What Should Laid Off Financial Professionals Due Now?

Posted on September 18, 2008

Many financial professionals are concerned about layoffs with all the upheavel in the financial markets. The Fed had to step in to save AIG. Lehman Brothers is going to file bankruptcy and Alan Greenspan is calling this the worst economy he has ever seen. An article on ERE says that some Lehman, Merrill, and AIG employees are being bombared by recruiters.

In the video below, recruiter Deborah Marcus of the Gerson Group shares some tips with the Wall Street Journal's Sarah Needleman. Deborah Marcus said there is some demand in marketing and client interfacing roles. She says there are still some hedge funds and boutique investment banks looking to bring in new talent. Marcus also talks about using a focused network of contacts as opposed to casting a wide net. She also says workers may want to consider other sectors outside of the financial industry. Job seekers may also want to look at opportunities overseas.