3 Observations about this Job Market- From a New Recruiters Point of View.
After a little over a month as a recruiter within the Finance and Accounting industry, there are a few things that have really surprised me that I'd like to share with my network briefly:
1.) Candidates are REALLY undervaluing themselves in this market.
I have been talking to great candidates with backgrounds in the Big 4 Public Accounting firms, great work experience out of school, well-spoken, and are asking sometimes 20-30% under what their value is from a compensation perspective. But they don't know because they are so intrenched in their day-to-day value at their current firm. This brings me to my next observation...
2.) Candidates REALLY undervalue the benefit of a conversation.
I am shocked sometimes at the response I get when I speak to a great candidate on paper, and I get them on the phone only to blow me off or think I am of no benefit to them.
I get it, the recruitment market is hot right now, and strong candidates are likely being reached out to left and right from recruiters like me. But when you discredit an opportunity to grow your network, and see what opportunities are available to you, you are just giving yourself a disservice. Not to mention Michael Page works with some of the most reputable and prestigious financial institutions in the world.
3.) There are open roles everywhere- but not enough candidates to fill them.
We are in the midst of a booming economy- there are more job openings than ever before, with a number of large institutions and firms looking to expand and grow their business. The issue- the supply of qualified candidates is extremely limited. We are seeing employees in record numbers leave their jobs in search for new career paths or entrepreneurial journeys.
So by natural laws of supply and demand, the low supply in quality candidates vs. the high demand of them is causing an increase in the price of their product. (I.E. their salary)
So if you are reading this and are considering making a move and are not sure- my advice?
Go get your bag. Make a jump. Learn something new. There's no better time than the present to make a change for yourself for the better. You never know what it might lead to.
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