It's September, summer is over and any bank which still has budget to hire will want to use it before the end of the year. If you aspire for a new banking job in 2019, now is therefore the time to circulate your credentials. To help ease the process we've identified some of this autumn's biggest hiring trends at big U.S. banks - and some of the curiously niche opportunities that are out there.
This is what you need to know.
There's a big push on algo expertise and electronic trading system development
If you want to get hired by a U.S. bank in Q3, you want to write algos or be an expert in trading technology.
Last month, Adam Korn, Goldman Sachs' head of co-head of engineering for its trading division, said the firm intends to hire 100 people to work on trading technology, mostly in New York and London and roles are already open. Goldman is currently looking for around 13 people to work on its trading systems in London (mostly equities) and for a similar number in New York. JPMorgan is hiring too - it wants a senior software engineer for its 40-person strong credit etrading technology team.
If you're not developing electronic trading technology, you want to be writing the algorithms that run on the systems. Goldman has two jobs in London and one in New York in its systematic trading teams which write "state-of-the-art trading algorithms for both internal and external clients." JPMorgan is hiring a New York-based algo execution quant for its 'linear quantitative research' group. Morgan Stanley wants an algo-writing VP. Bank of America is looking for an 'algo product platform specialist' for its quantitative strategies group and for someone in 'signal development' in the same group. Algos are basically where it's at.
Goldman Sachs wants someone to lead a new quantum computing team
Quantum computing may not be a reality yet, but Goldman Sachs seems to think it's coming soon. The firm is advertising for the 'Leader of a new quantum computing research team in R&D Engineering,' who will be tasked with working out how quantum computing could be applied across the bank. Applicants will again need to know algorithms, but this time it's quantum algorithms.
There are some interesting IBD jobs
It's not just about technology. There are even some exciting jobs in old-fashioned investment banking divisions. Morgan Stanley, which holds the top spot for defending companies targeted by activist investors is looking for an analyst to join its shareholder activism and corporate defense practice in New York. JPMorgan is looking for a vice president (VP)-level corporate banker to 'cover high growth Technology clients based in EMEA.'
Citi has plenty of roles in its innovation lab
Citi, meanwhile, seems to be building-out its innovation lab in the UK and Ireland.
The bank is advertising six senior innovation lab roles in Canary Wharf, including for a data scientist and React developer to 'build the next generation of systems for Citi’s markets businesses.' It's also looking for a head of innovation design in Dublin.
Outside of the innovation lab, Citi is also looking for an important person to work in its cloud projects. The bank's new 'cloud transformation lead' will work on the bank's 'highest-impact, highest-profile problems' according to the job description.
Morgan Stanley wants someone to totally redesign its New York offices
If you want something a bit more creative, Morgan Stanley wants someone to work on, 'a major Metro NYC Headquarters campus masterplan and revitalization project,' which will entail modernizing its midtown propertly portfolio, 'through to construction and commissioning of the building,' in order to help retain staff. This is about a lot more than just adding a few beanbags.
Photo by Anders Jildén on Unsplash
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