06Jun

Welcome back to #WeAreGreenKey, where we shine a spotlight on our powerhouse recruiting team. 

We chatted with Andrew List, Executive Director on the Financial Services team at Green Key. With 25 years of recruiting experience, Andrew elaborated on the collaborative nature of his team, becoming an expert within the finance industry, and the healthy work-life balance that recruiting allows him. 

How did you first get started in recruiting? 

Recruiting was my third career. I was originally a stockbroker and when I found myself out of work, I didn’t know where to go from there. I knew I was already good at sales, so recruiting came naturally. I knew some of the partners at Green Key from a prior agency and started here in 2013. Twenty-five years later in the recruiting agency, I can’t imagine doing anything else. 

What do you enjoy about recruiting for Financial Services? 

I’m good at building strong relationships, so being able to help clients and candidates is an awesome feeling. People trust me and that allows me to provide my input and advice for them. There are so many people I’ve known and communicated with since the beginning of their careers.  

What keeps you coming back to recruiting every day? 

Recruiting is a great career if you’re good at it and willing to keep trying your hardest. But what really keeps me coming back to recruiting is being able to provide a great life for my family and children. Having a healthy work-life balance at Green Key, and working for people I’m comfortable with, is what gets me up every day and feeling supported. 

What sets Green Key apart from other staffing agencies? 

We have the expertise. Specifically on the Financial Services team, we have people at the top who have all been doing this for 20+ years. I know that when I’m on the phone with a candidate, I can immediately establish my credibility. We also have the ability to chat with anyone by finding common ground and connecting with people on a personal level. For instance, if I’m talking with someone from Long Island, I can easily start up a conversation and find their story. 

What makes the Financial Services team successful? 

Teamwork across the board. I’ve never understood the business model where everybody is on their own. You don’t make as much money that way, nor is it productive or reputable. When you’re truly collaborative, as well as competitive, the more successful everyone is. We share our knowledge and database and that creates strong and trusted colleagues within the team. 

We also don’t micromanage. New hires will wonder, how do I become an expert in recruiting and Financial Services? The truth is, you have to immerse yourself in the industry. I can teach you parts of it, but the rest you have to learn on your own by talking to your candidates and clients and figuring out how things piece together. That’s how you become the expert. 

Wall Street Bonuses Are Shrinking This Year

About those year-end bonuses Wall Street bankers and traders were expecting just a few months ago: If they happen at all they’re going to be smaller than last year.

The compensation consulting firm Johnson Associates Inc. says the prolonged business shutdown, which has kept millions unemployed, is weighing on banks, which have upped their cash reserves anticipating the possibility of widespread credit defaults.

They’ve also taken a hit to lending and related activity, as consumers have dramatically reduced their spending.

With so many stores closed US consumers had few alternatives but to save. The personal savings rate soared to 33.5% in April, more than four times the 7.5% in April 2019. Savings, as a percent of disposable income, has since fallen to 19% in June, according to data from the government’s Bureau of Economic Analysis. But that’s still well above the pre-COVID rate.

According to a Bloomberg article, Johnson Associates predicts that bonuses and incentives for those in hedge funds, asset management and private equity will be lower by as much as 15%. Those in retail and commercial banking are looking at up to a 30% bonus cut.

“That is going to be a really troublesome finish of the year,” report author Alan Johnson, is quoted as saying.

For stock and bond underwriters and equity traders on the other hand are likely to get bigger bonuses. The Johnson Associates prediction is their year-end bonus will be 15% or even 20% above last year.

Underwriters have been kept especially busy as companies struggled to raise money to maintain payrolls and cover other expenses.

Traders, meanwhile, have worked to keep up with record volumes of transactions from investors trying to stay ahead of the highly volatile, but rising, markets.

Photo by Patrick Weissenberger on Unsplash

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