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Firstly, let us clarify something. Executive search and headhunting is not restricted to the Banking and Financial sectors, although it is indeed prominent within these markets. Headhunting came about from the simple fact that the best people for the job are most probably already employed at another company, probably a competitor to the one that wants to employ them.
Headhunting is not about prizing someone out of a job quickly to fill a vacancy it is about building long term relationships with both candidates and clients to build trust so that when it comes to filling a vacancy or finding a candidate a job, you can offer objective advice and deliver the best solution to client and candidate alike. You'll need to be an expert in the market that you are working in, so that you can offer help, advice and guidance to people looking to make their next career move.
Investment Banking, Capital Markets, Financial Services. All are markets that you could find yourself operating in if you are interested in a career within Executive Search and Headhunting.
Larger companies will have various teams who cover all aspects of the market. Smaller firms will focus on a particular sector, or more on a specific area such as front office trading and analytics for example.
Recruitment within in this field behaves in a similar fashion to the financial market. It was affected badly by the recession, however with financial markets on the up; recruitment activity within this sector is seeing an increase as well. Finance was the first and hardest hit; however it is now the first and fastest to recover. Companies are keen to recruit the best people once again so that they do not miss out on what is now a more rewarding market.