Viscous Circle - Finance Experience

[Scrag Meister]

As someone else said liquidity, it isn't flowing like it has, there are currently well experienced contractors who have the financial experience looking for roles, so the banks can be choosy.

Why would any firm in whatever business given all other things are equal not choose a person experienced in their sector over a person who is not.

[SimonMac]

Well I managed to secure an interview with a "finance institute", not an IB but I think if I get the job it will certainly be classed as Finance Experience for future roles

[realityhack]

One of the main reasons for this - particularly in IBs, is they're looking for people who understand the systems, typical challenges and the language/terms used in that sector.

What's the point of hiring a lead developer, designer, architect, BA or PM who doesn't know what yield curves, liquidity risk management or structured investments are? You'd spend half the contract trying to bring them up to speed. More applicable in roles that require that high-level view... so I see the OP's point that there are some roles that are more abstract... but in my experience those sorts of roles are outsourced to technology/implementation vendors.

[darmstadt]

I've worked in numerous banks, including IBs, and other financial organisations yet have not one inkling about financial systems and it makes me laugh when on the phone that they like the fact that I've worked at them all until I say that I have no knowledge of what they want. The areas that I work in require absolutely no knowledge of these systems apart from the fact they need to be secure and available 24x7 which when trying to point out to an agent falls on deaf ears.

[DS23]

It is a sticky situation, I'll give you that...