A Recruiter Speaks: Insider Info on the Job Market Thaw for Boutique Firms and Fortune 500

Contributed by Silvana Carpanelli Hayes of IvyExec

Thanks to the stalled economy, and what seemed to be a chronic freeze in the recruiting world, 2008 and Q1 of 2009 was a tough time for executive job seekers. Woeful economic indicators, soaring unemployment rates and seemingly endless waves of executive firings did little to improve the mood. But now we are finally seeing the little light at the end of the tunnel.

And so while 81% of highly qualified professionals still think the crisis is far from over, this recruiter has some good news to share: the job market is defrosting and coming back to life. The first signs of this new spring came around in August when many boutique firms started researching new hiring sources for newly created positions. VCs looking for research analysts in specific industries such as energy and healthcare gave new opportunities to several top tier candidates with investment banking backgrounds. These boutique firms are a haven for talented professionals making their way into corporate America. Los Angeles and San Francisco are two newer hotspots for opportunities in finance these days, as opposed to the traditional New York-based finance gig.

Additionally, hi-tech companies have been pursuing marketing professionals to expand into new initiatives. Several of the publicly-traded Waltham-based tech leaders are pushing their marketing departments to hire extremely qualified talent to incubate new initiatives.

Corporate America is also getting into the act, with leading companies seeking professionals to fill positions created due to the M&A activity. The titans are also looking to fill newer needs in fields such as Global Wealth Management.

Top Recruiter Tip: Be Flexible and Competitive

We’ve also seen increased location-specific demands, with opportunities emerging in the Midwest for MBAs willing to relocate and work for leading companies with headquarters in Minnesota and Wisconsin. In addition, the usual metropolitan areas have reactivated their hiring efforts, with a lot of movement in New York, New Jersey, Massachusetts, and West Coast cities such as Los Angeles and San Francisco.

The most important factor is the overwhelming competition out there, affecting both candidates and employers alike. Companies have been bombarded with résumés for candidates that indiscriminately apply for any position available; sorting through the mess take time, effort and increases internal costs dramatically. Qualified candidates, on the other hand, get lost in the overflowing inbox of most HR professionals. Companies are looking to recruiters and niche job-boards to help sort the mess out.

The good news is that job postings overall are effectively translating into interviews and hires. All indications point to a job market recovery. We predict that there will be a September rush for hires so executives should be prepared to leave the summer days behind and figure out their next career move.

Silvana Carpanelli Hayes is a senior recruiter for ivyexec.com. To see some of the statistical analysis conducted by Ivy Exec based on their 30,000+ members with graduate degrees read our MBA expert whitepaper.