The chart above illustrates the sustained dip in hiring following the Covid outbreak, which lasted for three quarters from Q2 2020, before rebounding in Q1 2021. Job demand then surged until the summer of 2022, when escalating inflation and market instability triggered a decline in job moves from Q4 2022.
Since then, we’ve observed five consecutive quarters of muted hiring demand compared to previous years, culminating in a drop for EMEA Sales 2023.
We suspect this hiring decline was a reaction to dwindling mandates as asset allocators held back due to rising inflation and market instability. Many asset owners temporarily shifted allocations to liquidity products last year while deliberating on medium-term strategic reallocations – a move that proved challenging for anyone outside a select group of liquid strategies (money markets, short-dated bonds, ETFs, etc).
Consequently, hiring levels across the entire EMEA region plummeted to the lowest point we’ve recorded in two decades. The silver lining is that demand has roared back in Q1 2024, as asset allocators have finally begun to allocate decisively, prompting asset managers to revive long postponed hiring plans.
For more information about Distribution hiring trends within specific EMEA regions or
client segments, please contact us here:
Author: Rupert Reed Last edited 10th April 2024
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