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"98% of equities recruiters are rubbish. Here's how I find the good ones"

I work in cash equities sales trading, as do many of my friends. I'm approached by recruiters a lot, and 98% of them are rubbish. 

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They all have the same approach. First, they'll ask whether I want to make a move. If I say that I do, they'll let me know which firm they're supposedly representing. 

 

I say supposedly because in many cases, recruiters don't actually have the mandate to fill a role: they're simply trying to find candidates they can present to the hiring firm in order to make some money. This is the situation with most of the recruiters who approach me now. 

There is, however, a way of sifting the recruiters who are genuine. I ask them who their contact is, and who the hiring manager is at the firm they're claiming to represent. I've been around for longer than 90% of recruiters and in most cases I will know the person behind the search. If they're evasive and say it's HR, then I know they don't have the actual mandate. 

It becomes difficult when even the good recruiters don't want to give their contacts away. This can often be the case, making it a bit of a cat and mouse game to persuade them to validate. The end client often asks for anonymity until a candidate is offered an initial interview. 

As a candidate, though, I want to know who the client is. The last thing I want is a recruiter who "shops" you around. Word can potentially get back to your current employer, with significant consequences.

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Photo by TUAN ANH TRAN on Unsplash

 

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AUTHORGeorge Hunt Insider Comment
  • Gl
    Globe spoiler
    5 June 2024

    ...most of the recruiters are more interested in " your previous salary" and "your salary expectations". ....this will determine how high their commision shall be...

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