FOREWORD

The BountyJobs mission is to help employers and agencies collaborate more effectively. We recognize that going out to search is only one piece of a company’s multi-faceted talent acquisition strategy. Because it is an expensive piece, talent acquisition leaders have to make critical decisions about when and how to send jobs out to search. We host the world’s largest marketplace for employer and agency collaboration, giving us the data to benchmark salaries, fees, and performance. We think this data is a necessary tool for teams working to make the most of their third party agency investment.

01 FOREWORD & EXECUTIVE SUMMARY

EXECUTIVE SUMMARY

In 2016, we shifted our annual report to focus more on data, and less on analysis. With that shift, there was a high demand for more vertical-specific data. Talent Acquisition leaders wanted to see how their company’s recruitment metrics stacked up against industry benchmarks.

In these quarterly reports, we’re focusing on the four most active industries in the BountyJobs marketplace. Financial Services is the third in our series; following our previous reports on Pharmaceutical and Biotechnology, as well as Information Technology. In addition to the more traditional banking and finance roles, this report also includes roles in a wide variety of job categories, including IT and Marketing.

— The BountyJobs Team

The Dataset

This report is focused on the 2016 activity of the Financial Services companies in the BountyJobs marketplace. From aggregate activity by employers to the geographic disbursement of jobs across the country, this section gives a picture of the data we used to curate this report.

Financial Services represents an industry as well as a job category with a variety of roles within different industry sub-categories. Because of this, we expanded how we normally look at data for vertical-specific reports to look at all of the roles that fall into Financial Services-related job categories.

In addition to sharing vertical-specific data, we’ve interjected some general market data for comparison. That way, you can see how your agency recruitment metrics stack up against those of other Financial Services companies, as well as the market as a whole. You’ll see that this industry tends to differ from the general market. This is useful information if you’re recruiting candidates from other industries—or if you’re new to recruiting for Financial Services companies.

56%COMMERCIAL BANKING

Financial Services sub-industry with the highest number of job

postings in 2016.

INTERNAL AUDITORFinancial Services job category

with the highest number of job postings in 2016.

13%

03 THE DATASET: AT A GLANCE

Average # of jobs posted in 2016 by Financial Services Employers.

37 Jobs 118 Jobs

Average # of jobs posted in 2016 by our 10 most active

Financial Services employers.

Highest # of jobs posted by a single Financial

Services employer in 2016.

417 Jobs

JOB POSTINGS: PUBLIC v. PRIVATE

BOUNTYJOBS FINANCIAL SERVICES JOB ACTIVITY

Market

FinancialServices

How do our employers determine the visibility of their Financial Services jobs?

PUBLICPublic jobs are posted and visible to our marketplace

of 10K+ agencies

PRIVATEPrivate jobs are posted

privately, visible to vendors by invitation only

35%

65%70%

30%BountyJobs accommodates employers that want to manage their existing preferred vendors, as well as those who wish to connect to new agencies.

Financial Services companies use their preferred vendors nearly two-thirds of the time, while posting their roles to the marketplace one-third of the time.

04 THE DATASET: AT A GLANCE

BY THE CALENDARWhat time of year do Financial Services employers go to external search? How does that compare to the market in general?

Market FinancialServices

Financial Services companies have an atypical hiring pattern that spikes in the summer and declines sharply in December. While hiring slows for many organizations near the end of the year, the steeper decline in the Financial Services industry may be related to books closing at the end of Q4.

BY KEYWORDWhich words appear most in Financial Services job titles?

05 THE DATASET: AT A GLANCE

BY SENIORITY LEVEL What is the breakdown of Financial Services jobs sent to search by seniority level?

NON-MANAGERIAL

68% 16%

MANAGER

7%

DIRECTOR

9%

VP OR C-SUITE

BY GEOGRAPHIC DISTRIBUTIONWhere are Financial Services jobs geographically located?

The majority of Financial Services jobs sent to search are non-managerial positions. Employers in this industry tend to look for highly specialized candidates for roles such as Auditors, Software Engineers, and Analysts.

31% of Financial Service jobs

posted in the BountyJobs Marketplace in 2016 were

located in Texas.

Texas had the biggest concentration of Financial Services jobs, in addition to the more traditional New York area and tech-heavy California.

HIGHEST CONCENTRATION

06 THE DATASET: AT A GLANCE

BY SUB-INDUSTRYWhat is the breakdown of Financial Services jobs by sub-industry?

BY JOB CATEGORYWhat is the breakdown of Financial Services jobs by job category?

56%

22%

22%

COMMERCIAL BANKING

MORTGAGE

OTHER• Securities• Credit Card Services• Investment Banking• Investment Management• General Financial Services

FINANCE & ACCOUNTING45% INFORMATION

TECHNOLOGY34%

SALES & MARKETING

ENGINEERING LEGAL

12% 2.3% 1.4%

Salaries & Fees

Jobs in the Financial Services industry have largely been declining over recent years. Technology and consumer preference has been replacing the need for many types of positions. For example, the use of automatic teller machines (ATMs) and online banking has eliminated many bank teller jobs.

Despite these job cutbacks, competition for skilled talent is still high. The skill gap for more analytical and technical roles is likely what’s keeping average industry salaries higher than the rest of the job market.

It’s important to note that Financial Services industry salaries have not followed any sort of predictable pattern over the past seven years. Perhaps this industry is more affected by political events and corresponding fluctuations in the economy.

For instance, Brexit in 2016 caused a significant drop in the stock market and is said to be responsible for a decrease in job opportunities in the financial sector. It’s entirely possible that this event—and the anticipation of it—caused an ‘employer’s market’ rather than a ‘candidate’s market’ by increasing the available workforce, causing salaries to drop in 2016.

08 SALARIES & FEES: YEAR-OVER-YEAR TRENDS

Financial Services salaries have remained higher than market averages, but the gap became a little narrower in 2016. We also see that agency fees have hovered around 22 percent in recent years, but came down closer to 21 percent in 2016. While agency fees have historically been higher than market averages, they are now about equal.

YEAR-OVER-YEAR SALARY AVERAGES

MarketFinancialServices

YEAR-OVER-YEAR FEE AVERAGES

Adjusted for Inflation

SALARIES BY BANDWhat was the distribution of salaries for Financial Services jobs?

09 SALARIES: LAST 12 MONTHS

| >50K

5%

| $50K – $100K

33%

| $150K – $200K

11%

| $200K – $250K

1%

| >$250K

<1%

SALARIES BY SENIORITY LEVELWhat were salary averages for Financial Services jobs by seniority level?

• Sr. Auditor, Credit Risk• Lead Software

Engineer

$101,174Non-Managerial

• Technology Risk Manager

• Sr. Project Manager, Mortgage

$122,884Manager

• Director, Accounting Policy

• Managing Director, Wealth Markets

$170,560Director

• VP, Wealth Management

• Chief Credit Officer

$109,219VP or C-Suite

$109,862AVERAGE SALARY OFFERED $320,000

HIGHEST SALARY OFFERED

| $100K – $150K

49%

POSTING VOLUME BY FEE CLASSIFICATIONWhat was the distribution of jobs posted relative to fees? How does that compare to the market in general?

10 FEES: LAST 12 MONTHS

FEES BY SENIORITY LEVELWhat were fee averages for Financial Services jobs by seniority level?

22%Non-Managerial

22%Manager

22%Director

22%VP or C-Suite

DISCOUNT MARKET PREMIUMBelow 20% Between 20- 25% Over 25%

Financial Services

Market 12% 32%55%

8% 87% 5%

Placement fees for Financial Services roles generally fall within 20 to 25 percent of the candidate’s first year

salary, which is a significant difference from general market usage. Fees also rarely fall below 20 percent or exceed 25

percent for these roles.

Performance

Once you’ve determined salaries and fees, when can you reasonably expect to see resumes, interview candidates, and hire your new employee? Comparing your company’s data against industry benchmarks can be useful to help you measure your agency performance and identify areas for improvement. If, for instance, your first interviews take longer than the industry average, consider running an intake session to become better aligned with your agencies.

Keep in mind, however, that benchmarks are averages for jobs with wide ranging characteristics. There are a variety of factors that affect search activities and performance metrics. Some factors may be out of your control, such as a scarcity of talent in your area. Beyond that, every company’s hiring process is unique, and your performance metrics should reflect that.

12 PERFORMANCE

BOUNTYJOBS RECRUITMENT TIMELINE

FIRST AGENCY INTRODUCTION

Median amount of time it takes for an agency to

raise their hand to engage on a Financial

Services role.

FIRST AGENCY ENGAGEMENT

Average number of days until an approved

agency begins their search for a Financial

Services role.

FIRST RESUMES RECEIVED

Average number of days for an actively engaged

agency to begin submitting candidates for a Financial Services

role.

FIRST INTERVIEWS CONDUCTED

Average number of days to set up first interviews for a Financial Services

role.

3 days 7 days 27 days9 min

AGENCY PERFORMANCE STATISTICS

Average # of candidates submitted per Financial Services position

Average number of agencies invited on a private Financial Services position

14 Candidates

10 Agencies

8 Agencies

Average number of agencies invited on a public Financial Services position

How does agency performance and engagement compare from the

market to Financial Services?

Market Average: 2.5

Market Average: 8.7Market Average: 11.75

Financial Services roles typically command a higher number of agencies working on open roles. As well, the number of agencies directly invited to work on private roles far outnumbers the Market Average. This is due in part to the confidential nature of these roles.

13 PERFORMANCE: TIME TO FILL

TIME TO FILL

A variety of factors affect time to fill (TTF), including title, salary, seniority level, and scarcity of talent in a particular role. For example, time to fill increases by 15% for roles with C-suite, VP or Director in the job title, and 41% for roles with salaries of $150,000 or higher.

We’ve selected a sample of actual Financial Services jobs filled on BountyJobs in 2016.

PRINCIPAL QUANTITATIVE

ANALYST

Salary: $126KTTF: 64 Days

MANAGING DIRECTOR,

TRANSACTION BANKING

Salary: $300KTTF: 51 Days

MANAGING DIRECTOR,

INTERNAL AUDITS

Salary: $225KTTF: 113 Days

TRADE ANALYTICS MODEL

DEVELOPMENT LEAD

Salary: $158KTTF: 97 Days

DIRECTOR, APPLICATIONS

ANALYST

Salary: $190KTTF: 65 Days

VICE PRESIDENT, WEALTH

MANAGEMENT

Salary: $118KTTF: 40 Days

14 PERFORMANCE: BEST PRACTICES

BOUNTYJOBS FINANCIAL SERVICES RECOMMENDATIONS

Focus on Fees:

While most placement fees fall into the 21%-22% range, you can utilize premium fees to stand out to the best agencies for your critical, time-sensitive roles.

Create Strong Offers:

Average Financial Services salaries dropped last year, so you can attract the best talent to your organization with strong offers –including salary & benefits.

Reach New Talent Pools:

Use one tried-and-true specialist agency, one new agency, and one generalist agency on each search.

Consider Offering Relocation:

Many Financial Services employees may face job instability due to Brexit. Entice them with your opportunity by helping them relocate.

1 2

3 4

Financial Services is a highly competitive industry and specialized labor is in high demand. Below are 4 best practices to increase the effectiveness of employer/agency collaboration.

BOUNTYJOBS RETAINED SEARCH: All Your Direct-Hire Placements Under One Roof

BountyJobs takes the pain out of managing retained search engagements by allowing you to track and manage all your direct hire placements in one location. We’ve added retained-only features to keep those critical job searches moving smoothly - including automatic, milestone triggered progress.

Looking for more information about BountyJobs or the datacontained in our Marketplace? Please contact us via email atinfo@bountyjobs.com or phone at 212-660-3960.

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