Introduction
Investment banks are constantly on the lookout for top talent, and there are two main ways to go about hiring: retained search and contingency search.
Retained Search
Retained search firms are hired by clients on a retainer basis, meaning that they are paid upfront regardless of whether or not they find a suitable candidate. This gives the recruiter a vested interest in finding the best possible candidate, even if it takes longer.
Retained search firms typically have a deep understanding of the investment banking industry and a wide network of contacts. They also have the time and resources to conduct thorough searches, including interviewing candidates, assessing their skills and experience, and providing feedback to the client.
Contingency Search
Contingency search firms are only paid if they successfully place a candidate with a client. This means that they are motivated to find a candidate quickly, even if it is not the best fit for the role.
Contingency search firms typically focus on high-volume recruitment and may not have the same level of expertise or network of contacts as retained search firms. They may also be less likely to conduct thorough searches, as they are only paid if they make a placement.
Benefits of Retained Search for Investment Banking Clients
Retained search offers a number of benefits for investment banking clients, including:
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Access to a wider pool of candidates: Retained search firms have access to a wider pool of candidates than contingency search firms, including candidates who are not actively looking for a new job.
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More personalized service: Retained search firms typically provide a more personalized service to their clients, taking the time to understand their specific needs and requirements.
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Higher quality candidates: Retained search firms are able to conduct more thorough searches and provide feedback to the client, which helps to ensure that they place high-quality candidates.
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Greater confidentiality: Retained search firms are typically more discreet than contingency search firms, which is important for investment banking clients who may be looking to hire for sensitive roles.
Why Choose Circle Square?
We are a recruitment agency that specialises in the financial services industry. Circle Square has a deep understanding of the investment banking sector, PE, VC and Corporate Development spaces and has a wide network of contacts, which allows us to provide our clients with access to the best possible talent.
Circle Square's has an experienced team of recruiters who take the time to understand their clients' specific needs and requirements before conducting a thorough search for suitable candidates. Circle Square also provides feedback to our clients throughout the recruitment process, which helps to ensure that we make a successful placement.
Conclusion
Retained search is the best way to go for investment banking clients who are looking for the best possible talent. Retained search firms have the time, resources, and expertise to find high-quality candidates for even the most challenging roles.
If you are an investment banking client looking for a retained search firm to help you with your recruitment needs, Circle Square is a great choice. Circle Square has a deep understanding of the investment banking industry and a wide network of contacts, which allows them to provide their clients with access to the best possible talent.
