Asset Management Product Hiring Update
I have had a few conversations with heads of product recently who have asked for an update on hiring trends within product this year. I thought it would be worth sharing what I have observed in 2024.
A few highlights below:
· In Q1 we saw a massive lull in hiring for permanent staff across all areas of product. We also noticed some contractors having their assignments ended early.
· A number of product heads felt they had over-hired in the past 18 months and sometimes overpaid for talent.
· Q2 brought some hope, with some firms hiring within product management, often with regulatory experience as a priority.
· Alternatives still bucked the trend, with firms looking for real assets experience throughout 2024
· Q3 has really kicked off with hiring across multiple firms. Hiring managers have focussed on candidates who have “end to end” product experience.
· It's positive to see firms investing in their product development teams, this has been across both public and private markets.
· Most hiring managers are content with their teams, but are tending to replace with more junior team members who they can train rather than overpay.
All in all, most heads of product are making positive sounds, but they are all being extra careful when hiring, ensuring they get the right person.
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