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Hiring in EMEA Sales Fell to Record Lows in 2023

The chart on the right 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 last year’s unprecedented drop.

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 they deliberated

on medium-term strategic re-allocations – 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 longpostponed

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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