IT Professionals Drift Towards Hedge Fund Start-Ups and Better Pay

February 6, 2011 Debbie Jacobs Hedge Fund News

ReThink Recruitment recently publicized that IT developers have been leaving investment banks and drifting towards a new surge of hedge-fund start-ups.

The hedge funds have been able to recruit the professionals with the promise of 80,000-100,000 euro salaries, with an additional 100% guaranteed bonus. Banks, on the other hand, have been forced to limit and even defer bonuses a well as pay only a small percentage in cash, making the hedge fund offer even more appealing.

Head of Financial Services at ReThink Recruitment Fhamid Malik sais “IT is critical to competitive advantage in the financial services industry, so banks will need to find innovative ways to retain staff if they are to compete in this escalating arms race… The trading process of many of these funds is now so IT-dependent that they are increasingly taking the lead role,” he added.

Hedge Funds, IT Developers, ReThink Recruitment,

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