I had some time this weekend to analyze LinkedIn data. There are so many Compliance and Risk Managers who were laid off in New York City in the fall of 2019 and March 2020, etc. who are still unemployed. A couple of my former Prudential co-workers that had compliance jobs in NYC can’t find jobs. They have been applying for jobs in the financial services industry and outside the industry for months, and the response from recruiters and companies has been crickets. There are going to be thousands of compliance and risk managers that will be laid off in 2021 from all of these big banks that are downsizing all over the country. I have never seen anything like it. I was thinking when I got laid off from Wells Fargo, that I would just move to NYC and get another risk job. This is scary stuff!
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that seems weird. I get contacted by recruiters quite a bit for positions on LinkedIn and I'm not even in a big market like NY. Sounds like they're not giving you the full story, or they don't have the right type of experience in risk. Just look on any of the job sites, lots of job openings for mid-senior and senior jobs unless you're looking for a c-suite level of course that's always tougher. Seems like you're just trying to scare people. I could get a new job within weeks, only issue is that wells fargo, at least for my role, tends to pay more in both bonus and salary so I'd need to potentially accept a lesser wage or hold-out longer for the right role.
there's a ton of risk openings in NYC metro, maybe they just don't interview well.
Considering the state and federal unemployment benefits, I wouldn't be surprised if this was out of choice to just catch a break and relax, not having to work for some time. THere is plenty of jobs out there.
other problem is WFC pays better than JPM, Citi and BOA for similar roles, actually quite a bit more! It was shocking to say the least..
Back office roles like risk are being filled less frequently across the industry in high cost of living cities. Not at all surprising to me that the NYC market is tightening.
not a great year to be interviewing with Covid in general. Risk and compliance will be in great demand in big tech, they are guilty of many crimes and will be hammered.
I work in compliance and get contacted daily about positions on LinkedIn. No idea if salary is comparable, etc because right now not interested in following up but seems like there’s a pretty good market in CLT