6 months down and 6 months to go – 2025 so far has followed very few of the typical hiring trends we usually see, but then again, neither did 2023 or 2024. So, welcome to the new world order of hiring trends.
Q2 was busier but the hiring flood gates didn’t quite throw themselves open in the dramatic fashion we had hoped for or expected.
In the face of continued fundraising challenges driven by extremely cautious LPs, funds have had to focus on investing time in understanding what investors want and need in their GPs.
This in turn is driving change for finance and operations. The landscape is evolving – with reporting and data heavy roles being considered for outsourcing/offshoring, firms are prioritising talent that can demonstrate an ability to use their technical knowledge to create more efficient processes, utilise technology and create smart solutions to pre-emptive challenges.
Q2 bought more opportunities to the market, with a roughly even split between fund finance positions (mainly 3-5 years PQE) and corporate accounting (1.5 – 4 years PQE). The majority of corporate accounting roles seemed to be through organic growth rather than attrition, with roughly a 50/50 split of fund finance positions being a result of movement in the market VS growth.
Bonuses seemed to perform well this year for finance, however, there have been several conversations that have left my jaw on the floor with bonuses either not paying out or payment dates being pushed back.
The Senior Finance market continues to be the most challenging I’ve seen, although there seems to be much more opportunity floating around currently, there is still very much a sense that firms are lacking confidence to make offers, with many processes taking months to reach conclusion.
The good news is that firms are adapting the these more challenging conditions and we are starting to see a light at the end of the tunnel – we are now a couple of years into these tougher fundraising conditions and funds are making headway. The general feel in the industry (certainly at the top) is that the persistence is paying off but are staying vigilant and dynamic should investor priorities shift.
Looking ahead to H2
What we have seen in the last couple of years is far busier H2s. Hiring budgets haven’t disappeared, but where to deploy them have been held in suspense thanks to the everchanging geopolitical landscape such as US politics, global conflict and our own home grown political standings.
Be ready.
I am in danger of sounding repetitive, but what continues to be high priority for firms are professionals who bring more to the table.
- Strong sense of how technology can influence business decisions
- Using meaningful data to also influence business decisions
- Becoming subject matter experts
Finance professionals should be spending time planning how to add the following skills to their CV to ensure more chance of success in progressing:
- Upskill in modelling – coding and programming macros and using VBA
- Understanding the value of business intelligence platforms such as PowerBI, SAP business intel and Tableau, extending that into understanding how it can plug finance into wider business
- Continuation of honing technical accounting skills
- Consistently appraising where automation can help free up time to focus on business facing activities
Hiring Managers/Talent Managers
There is what feels like an abundance of candidates right now, but don’t lose sight of fundamentally ensuring you strike the right balance between the skillset you need for the role and demonstrating the growth opportunity for professionals you hire. We are still seeing high levels of counter offers and offer rejections where roles aren’t offering progression in compensation or day to day role.
Advice to hirers:
- Don’t lose sight of the individuals and their ambitions
- Offer transparency in what the business can offer from a progression perspective
- Consistency in communicating process updates – processes are taking much longer naturally with the volumes of applicants, keeping your shortlist informed goes a long way
- Offer constructive feedback – act quickly with good / positive news, and just as quickly with not so good news
