Although FinTech is a niche market, the first is to approach larger, more established tech companies, whilst the second is to identify those operating in the startup environment. Benefits and challenges accompany each of these employers and your level of professional risk as an employee will vary significantly also. A startup may pose an elevated level of initial risk until the business becomes more established in the market, however, over the long term may reap a higher return.
Big Company or Startup?
Well established companies provide the security of size and stability. They usually attract larger projects with greater complexity as well as higher billing clients. Ordinarily, in line with this, you could also expect them to offer greater financial compensation for work performed. Larger entities usually pay staff like clockwork and provide a significant amount of structure within each role and across the organization. The entire experience working in a larger firm ordinarily results in feelings of working in a challenging, yet comfortable and stable environment.
Startups on the other hand can provide more diverse opportunities for interesting work that may not necessarily directly align with your prior work experience. The scope in role and exposure is likely to be incredibly broad, fewer ‘hands on deck’ means each ‘hand’ must undertake a broader and more significant scope of work. The camaraderie of working in a small but high performing team, working towards strengthening and advancing a business is both inspiring and exciting. Entrepreneurs are some of the most interesting and inspiring people depending on where the startup industry, it may not be in a position to offer the highest salary or the most reliable position description. Startups usually creative environment which can offer a greater degree of flexibility in the structure of your salary package or working hours.
Where to now?
Where possible, it’s wise to make the decision about your preferred type of employer before embarking on your job hunt journey. The preparation and your presentation will be slightly different, depending on the type of companies you target.
To assist you in identifying the characteristics of an organization that are important to you, it’s essential to consider such aspects as the size of the company, culture, benefits and career advancement opportunities. What do you personally relate to best when it comes to these options, and to which do you feel most aligned?
Once you establish the types of companies you prefer to work for, there are three primary methods of how to target them best; applying directly, using your network to generate leads or engaging the services of an experienced recruitment consultant. The type of vacancies that are currently being publicly advertised may influence your method of contact. If you identify an advertised vacancy advising candidates to submit a resume directly, then do so. If a recruitment consultant has been appointed to manage the process, contact the nominated recruiter in the first instance.
These days, many companies advertise vacancies directly on job boards or professional social media platforms. Whilst there’s no harm in applying if a vacancy catches your eye, it can potentially pose a risk to your visibility for the role. Employers usually receive a huge number of candidates for each advertisement they place which means your application can be easily overlooked.
On the flip side, the benefit of liaising directly with an employer means you can use their contact details to your advantage. Ring and personally introduce yourself and provide a memorable conversation. If only one person on the employer side is charged with hiring, you’re more likely to receive clearer and more constant messaging about the recruitment process.
2. Leveraging your network
Networking is everything. Often successful candidates report networking was key to their job seeking success and undoubtedly, it very much is. However, in this case, your existing network would need to be so well structured that it contains the exact contacts necessary to acquaint you with businesses that have the right type of vacancies. However, timing is everything. In order to be successful, your network must know the right people, at the right company, at the right time!
3. Engaging a recruitment consultant
Engaging a specialized and experienced recruitment consultant can be one of the most rewarding way to landing your next role. A capable consultant will provide you with a great experience and one where your part in the recruitment process is clearly mapped out for you. The recruitment consultant is responsible for presenting your application to any prospective employer as well as communicating the benefits of hiring you.
It’s in the best interests of the consultant to persuade employers to recruit you and therefore a truly good agent will represent only the best talent in any given market. As a job seeker, you can expect them to present the role to you and also provide extensive and tailored coaching before you attend a job interview. It’s their responsibility to obtain feedback from the client and if successful for final job stage, assist you in negotiating an appropriate salary package. Effectively, engaging the services of an expert recruitment consultant is like having an additional party batting on your team.
Targeting job search in the right way is most critical to your future career success. Whichever method you use, careful planning and adequate preparation is required. Always be well prepared to leave the best impression for prospective employers to maximize your job search success.
Mukul Kohli is a Senior Associate at Datasearch Consulting, a leading executive recruitment firm specialising in the Financial Technology & Market Data sectors.
You can download their FREE comprehensive guide on “The Complete Guide to Hiring Fintech & Data Talent - 5 Proven Steps to Secure the Best Candidates Possible” here Alternatively you can view the Datasearch Consulting website or contact them directly on firstname.lastname@example.org for a confidential discussion.
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