Risk Management

Risk Management

Selby Jennings: A specialist talent partner for risk management

Selby Jennings is a leading specialist talent partner for Financial Sciences & Services. Our global risk management team provides permanent, contract, and multi-hire recruitment from our offices across three continents.

Following the global financial crisis, risk management has become increasingly important over the last decade to help protect financial markets and prevent firms from experiencing further fines and sanctions. Risk functions have shown significant support for the introduction of innovative technologies, with 95% of employers and 69% of candidates believing data science, artificial intelligence (AI) and the cloud can improve departmental efficiency.

From streamlining processes and upskilling workforces to staying cutting edge by employing flexible work models, we advise enterprise leaders on when to strike and how. We provide expert insight to risk management professionals on benchmarking benefits packages and salaries and assist them through their career moves.

Whether youโ€™re interested in securing the very best risk management talent or youโ€™re a professional looking for risk management jobs, the Selby Jenningsโ€™ risk management team delivers exceptional talent to industry-leading clients and candidates.

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Benefits of working with Selby Jenningsโ€™ global risk management team

We are a specialist talent partner. Among the many benefits of working with Selby Jenningsโ€™ global risk management team are:

Experience

We have nearly 20 years of experience as a leading talent partner in Financial Sciences & Services.

โ€‹Network

A vast, global network of the best, in-demand professionals, working with the worldโ€™s largest financial institutions to innovative fintech start-ups and beyond.

Knowledge

Our award-winning talent specialists offer bespoke, tailored guidance on the latest hiring trends and industry news to help you achieve your goals.

Risk Management Jobs

Risk Controller (m/f/d)

Seeking an experienced Risk Controller to join a team in Frankfurt, Germany for one of our clients in an international bank. You'll be responsible for identifying, assessing, and mitigating risks across our international operations, ensuring compliance with regulatory standards and enhancing our risk management framework. Responsibilities: Developing and customizing guidelines and related documents, providing guidance on all inquiries pertaining to risk control. Maintaining ongoing surveillance of the bank's risk landscape. Conducting routine assessments of key risk types and ensuring alignment with risk tolerance thresholds. Compiling quarterly risk reports for review. Crafting and executing operational protocols for risk control guidelines. Qualifications: Bachelor's degree in finance, economics, or related field. Proven experience in risk management, preferably in banking. Strong understanding of financial markets and products. Advanced level in English and German. If you meet the requirements above and are interested in this exciting opportunity, please submit your application today. Our client offers a competitive salary and benefits package, as well as opportunities for career advancement within a dynamic and innovative international bank. For further information, please apply here or get in touch at: +4930166340768

โ‚ฌ70000 - โ‚ฌ90000 per annum
Frankfurt (Oder)
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Risk Controller - IRRBB (f/m/d)

We have a current opportunity for a Risk Controller (IRRBB) on a permanent basis. The position will be based in Frankfurt am Main. For further information about this position please apply. Responsibilities include: Operating Group-wide models to quantify market price risks and conduct stress tests, particularly concerning interest rate changes and credit spread risks within the banking book. Developing and implementing methods for measuring market price risk and executing stress tests, with a specific focus on interest rate and credit spread risks and associated sub-risks. Analyzing interest rate and credit spread risks in the banking book, both from a present value and income-oriented perspective, and effectively reporting the findings. Contributing to projects aimed at implementing prudential requirements, such as EBA guidelines on interest rate risk, for both present value and income-oriented viewpoints. Qualifications: Degree in mathematics, physics, economics, or related fields. Strong knowledge of market risk management and regulatory frameworks. Proficiency in MS Office; familiarity with Ambit Focus system and programming a plus. Analytical mindset, communication skills, and eagerness to learn. Advance level in German

Negotiable
Frankfurt am Main
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IT Audit Manager

Job Title: IT Audit Manager - Tech Company Location: Hong Kong We are currently hiring for a prominent technology company based in Hong Kong. We are searching for a highly skilled IT Audit Manager who will assume a pivotal role in overseeing the internal audit function, ensuring adherence to industry standards, and identifying areas for enhancement. This is an exceptional opportunity to join an innovative organization that values collaboration, professional growth, and forward-thinking approaches. Responsibilities of the IT Audit Manager: Foster and maintain strong relationships with business units to develop a comprehensive understanding of their strategies, plans, products, processes, performance, and risk-related issues. Plan, lead, and manage IT and/or operational audits, reviews, and special projects, while ensuring compliance with departmental and professional standards and timely completion of assignments. Communicate audit findings and recommendations to management, utilizing both technical and non-technical language, and produce well-crafted and reviewed audit reports. Monitor the progress and accomplishments of the internal audit plan and track the implementation status of recommendations. Actively participate in the annual audit planning process, including conducting assessments of IT applications and infrastructure controls. Requirements for the IT Audit Manager: Prior experience in IT audit obtained from an accounting/consulting firm, sizable organizations, etc. Preferred certifications include CA, CPA, CIA, or CISA. Demonstrated professional expertise with diverse experience across various IT areas, such as IT audit, IT governance, technology risk management, service integration, and project management. Exceptional skills in project management, planning, and execution. Strong analytical, critical thinking, and creative problem-solving abilities, with excellent influencing, negotiating, and report-writing skills. Up-to-date knowledge of recognized IT frameworks, emerging risks, and regulatory requirements. Ability to identify and assess complex IT risks and controls and relate them to the broader business environment. Collaborative approach to working with internal audit colleagues and management, while maintaining a proactive and engaging demeanor during audits. If you are seeking a leadership role and the opportunity to make a substantial contribution to a dynamic team within a pioneering technology company, we would be thrilled to receive your application.

Negotiable
Hong Kong
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Deputy Chief Audit Executive

A large regional bank ($85B AUM) in the Southeast is looking to bring on a Head of Internal Audit to further build out their Audit function in a period of high-growth. The role can sit in several different locations within the Southeast, including but not limited to Dallas, TX, Atlanta, GA, Charlotte, NC, New Orleans, LA, Memphis, TN, Florida, etc. The bank is looking for a highly skilled Audit Director to oversee their IT, loan and deposit operations, and all fiduciary functions. You will work with the CAE and senior stakeholders to provide valuable insights on risks impacting the organization, develop the annual Internal Audit Plan, and lead managerial direct reports. Additionally, you will play a key role in developing the bank's strategy to successfully take their growth to the next level. Responsibilities: Strategize to maintain and improve internal audit quality and efficiency Oversee and coach direct reports and corresponding teams Work collaboratively with the CAE and senior stakeholders Oversee and contribute to the annual Audit Plan development Qualifications: Bachelor's Degree or advanced degree preferred 10+ yoe in Audit 6+ yoe in management CPA, CIA, CISA certifications required strong communication, conflict resolution, and leadership skills strong technical skills Knowledge of IT Auditing, lending operations, banking operations, and wealth management highly preferred

Negotiable
Dallas
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Senior Auditor- Risk Management

A leading Canadian-based bank headquartered in Chicago is looking to hire a Senior Auditor to assist senior management in executing audits for the Risk Management line of business, which includes conducting risk assessments and evaluating internal controls to ensure compliance with regulatory standards. The Senior Auditor will report to the Internal Audit Manager to execute and participate in all phases of risk-based audits in accordance with the annual audit plan, assist on ad hoc projects, and collaborate with and occasionally lead internal audit team members. The role will be 1-2 days in office per week and can sit in either Chicago, New York City, Boston or Atlanta. Responsibilities include: Perform work under the direction of the Internal Audit Manager, which can include individual or multiple audit assignments and leading audits Conduct risk assessments and process reviews to determine areas of high-risk and appropriate controls Review the effectiveness of internal control design and identify gaps Document audit procedures and review audit work papers Qualifications: Bachelor's Degree in Accounting, Finance, Risk Management or related field is required CPA, CIA, CFA, or MBA or progress toward obtaining these certifications are preferred 3+ years of relevant experience Experience working in an Internal Audit department or public accounting firm Banking industry experience and exposure to Risk Management (Enterprise Risk Management, Operational Risk Management, Model Risk Management, Third Party Risk Management) preferred Strong analytical, written/verbal communication, interpersonal, and relationship building skills

US$90000 - US$120000 per year
New York
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Macroeconomist - Scenario Analytics

One of the top American Investment Banks in the New York area is looking to bring a strong Macroeconomist onboard to develop macroeconomic scenarios used in stress testing for the firm. This is a role that gets direct exposure to the Global Head of Scenario Analytics and offers a fast-track for upward career trajectory. This role will largely be responsible for developing assessments of risk and generating scenario analysis to be presented to senior stakeholders and business heads, while translating these assessments into scenarios that will impact portfolio drivers for the firm. This is a business-facing role that will collaborate with stakeholders and senior decision-makers on all macroeconomic scenarios and forecasting. Although this role will work with the econometric and scenario design modeling teams and an understanding of these models is required, this role will not be responsible for the hands-on modeling itself. The firm is ideally looking for someone who has around 5-10 years of experience in the industry either from a central bank or private sector working as an economist, and with a higher education degree relevant to Economics or Econometrics. Excellent communication skills and the ability to articulate logical reasoning is required in order to effectively communicate with the stakeholders and senior management. Responsibilities: Providing assessments of emerging macroeconomic and market risks Working with firm wide macroeconomic research to assess firm-wide risk exposures Develop macroeconomic scenarios and forecasting used in stress testing Assess risk drivers including market risk factors as well as economic variables Daily collaboration with senior stakeholders and management Qualifications: PhD or Master's degree in Macroeconomics, Econometrics, Economics, etc. Prior experience developing forecasts with macroeconomic forecasting models 5+ years of experience in macroeconomic research and forecasting Excellent communication skills Benefits Hybrid Schedule Full Insurance Benefits 401K

US$160000 - US$190000 per year
New York
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Risk Analyst

A leading High Frequency Trading Firm is hiring a Risk Analyst to join the team in Palm Beach, FL. The firm primarily serves as an equity + equity options market maker with offices and clients across the United States, Europe, and Asia. They develop in house proprietary technology, and they are constantly innovating to keep their edge in the market. Currently the team in Florida is looking to make a growth hire on the risk team. This individual will wear multiple hats, as the firm is open to a variety of candidate experience. Ideally this hire will have experience with market risk and/or counterparty risk analytics to evaluate new and existing trading partners across multiple asset classes. Most importantly they are looking for a self-starter who wants to grow and learn in a flat organization. This role is not one-size-fits-all, so any motivated candidates are encouraged to apply. Requirements: Bachelor's required, Master's preferred 2+ years of market/counterparty credit risk experience Python/SQL/Excel proficiency Excellent written and verbal communication skills Previous exposure to equity options preferred

US$100000 - US$200000 per year + bonus
Palm Beach
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Middle Office Ops Specialist - FX

A leading proprietary trading company is expanding its presence in the energy sector and is actively seeking to strengthen its teams across the business. With over three decades of experience, the company utilizes sophisticated technology and skilled personnel to operate globally across various asset classes, including Fixed Income, ETFs, Equities, FX, Commodities, and Energy. The company trades with its own capital and assumes its own risk and has diversified into non-traditional strategies such as real estate, venture capital, and crypt assets. Responsibilities Perform daily trade support and implement enhancements for global macro trading businesses. Ensure accuracy in trade capture, position management, and inventory continuity. Conduct front to back reconciliation of life cycle events for various currency pairs including FX, FX Options, and FX Exotics. Monitor trade flow across electronic trading platforms and FX PB Platforms. Serve as a liaison between trading teams and counterparties to resolve booking, allocation, and clearing inaccuracies while also managing Live/EOD position reconciliation. Required Preference given to candidates with prior experience in FX Global Trading Support roles, including derivatives middle office or front office desk support. Familiarity with LATAM/Emerging Market FX is a plus. Proficiency in SQL, Python, and Power Query is ideal. Capable of autonomously analyzing issues and effectively communicating with the team to devise solutions. Demonstrated success in implementing process enhancements is required.

Negotiable
Chicago
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Experienced Manager Risk Management

Title: Senior Manager - Risk Management Location: Austria Join a boutique consultancy as a Senior Manager in Risk Management. They're seeking an energetic and visionary individual with vast experience in Management Consulting and/or Banking Industry, ideally with a focus on Risk Management. This role offers the opportunity to contribute to cutting-edge projects in risk, finance, and strategy. Key Responsibilities: Lead and contribute to projects related to ICAAP/ILAAP, risk appetite/limiting, stress testing, capital management, recovery/resolution, etc. Apply expertise in ESG or demonstrate a strong interest in ESG practices. Utilize quantitative background and analytical skills to drive data-driven insights. Collaborate effectively within a team environment, while also demonstrating autonomy in tackling challenges. Rapidly grasp new concepts and develop innovative solutions for complex issues within tight timelines. Communicate effectively in both German and English, including the ability to produce comprehensive professional reports. Flexibility to travel within Germany/Austria as required. Possibility of part-time work (60%-80%). Key Requirements: Minimum 10 years of experience in Management Consulting and/or Banking Industry, ideally with a focus on Risk Management. Strong proficiency in Excel; familiarity with R and Python is advantageous. Excellent communication skills and a collaborative mindset. Ability to thrive in a dynamic and entrepreneurial environment. Passion for developing client-specific solutions and contributing to the growth of our firm. Don't hesitate to apply to this exciting position!

Negotiable
Lower Austria
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Capital Manager

Job Title: Capital Management Specialist Lead Position Overview: Selby Jennings has partnered with a top commercial bank in Dallas. We are actively searching for an experienced individual for their Capital Management Lead position. In this position, you will play a pivotal role in our annual Capital Plan and monthly capital forecasting process. Your responsibilities will include analyzing and modeling for our Capital Planning process, preparing materials for board presentations, interpreting regulations, and collaborating on ad-hoc projects. Key Responsibilities: Model out and forecast the HCR as well as Parent Company's cash position, holding company, lead bank, and share count. Assist in analysis and modeling for the Capital Planning process. Perform model enhancements, maintenance, and documentation. Executive stress testing and scenario analysis for the bank's capital adequacy. Prepare supporting materials and analyses for the annual capital plan and presentations to stakeholders. Read and interpret regulations, transforming them into accurate mathematical calculations. Participate in ad-hoc analyses as directed by senior management. Qualifications: 3 to 4 years of relevant experience in treasury, stress testing, forecasting, regulatory reporting, financial analysis, or FP&A within banking or financial services. Regulatory capital experience is required. Bachelor's Degree in Finance or related field. Knowledge of or ability to learn regulatory capital regulations, including Basel III. Expert-level Excel skills, proficiency in Microsoft Office applications (Word, PowerPoint, etc.). Familiarity with banking systems (e.g., Hyperion, HOGAN) or ability to quickly learn such systems. Experience with S&P Global Markets Intelligence (formerly SNL Financial) and Workiva is a plus. If you are interested in the Capital Management Lead position, then please don't wait to apply!

Negotiable
Dallas
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IFRS 9 Group Credit Risk Modeler

Title: Senior IFRS9 Credit Risk Modeller Location: Vienna, Austria In this exciting position, you will be based in Vienna and play a crucial role in developing cutting- edge credit risk models for a multinational bank and its subsidiaries. Your responsibilities will include gathering and analyzing data, crafting statistical models, and enhancing methodologies to ensure compliance with IFRS 9 standards and regulatory guidelines. Collaborating closel with a talented team, you'll drive initiatives related to IFRS 9 models and coordinate various activities across subsidiaries. Key responsibilities You develop IFRS 9 compliant credit risk models for both retail and non-retail segments You enhance existing methodologies in accordance with regulatory requirements You collaborate closely with colleagues within the Group Risk Modelling team and subsidiaries You steer and coordinate activities related to IFRS9 models, including training sessions and workshops Key requirements You bring substantial experience in Credit Risk Modeling or Validation, particularly in the context of IFRS 9 impairment considerations. Your educational background includes a degree in a quantitative discipline such as Statistics, Mathematics, or a related field. Your expertise extends to navigating regulatory frameworks concerning Credit Risk Management. You are proficient in handling data, you excel in tasks ranging from data preparation and quality assurance to transformation, statistical modeling, programming, and result presentation. You are adept with tools like MS Office 365, SAS, or R. You are fluent in English, both written and spoken, enables clear and effective communication. You thrive in roles where you can independently manage projects and coordinate efforts across various subsidiaries. Your commitment to teamwork is evident in your service-oriented approach, proactive nature, and unwavering accuracy. Your analytical acumen and strong sense of accountability set you apart.

Negotiable
Vienna
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Quantitative Risk Modeller

Role: Quantitative Risk Modeller Location: Paris, France Join our client, a dynamic risk management consultancy, and play a pivotal role in advising and supporting clients within the banking sector. Collaborate closely with clients and a team of seasoned professionals to craft tailored solutions, enhancing both your technical skills and entrepreneurial mindset. Key Responsibilities: Develop and validate diverse credit models, including rating, granting, and A-IRB models, in addition to IFRS9 provisioning models and portfolio analysis. Spearhead the integration of cutting-edge BI and Machine Learning tools for advanced statistical modeling. Provide invaluable support in defining and implementing stress testing methodologies. Ensure compliance with regulatory directives such as Basel III/IV, and contribute to prudential reforms. Conduct thorough reviews of model risk systems within the framework of Model Risk Management (MRM). Offer expertise on regulatory initiatives pertaining to climate risk management. Seize occasional opportunities to contribute to projects across European countries, based on mobility. Key Requirements: Graduate from a leading engineering school or university, specializing in quantitative finance or risk management (e.g., X, MINES, CENTRALE, ENSAE, ENSAI, Master ESA). Possess a minimum of 3 years of substantial professional experience in consulting firms or financial institutions in France. Proficiency in quantitative and statistical analysis tools such as SAS, Python, R, Matlab, and SQL. Demonstrate exceptional organizational skills, rigor, and autonomy. Fluency in both written and spoken French and English. Excited to embark on this challenging journey in risk management consulting? Join our client in Paris and make a significant impact in the banking sector!

Negotiable
Paris
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Risk Management News & Insights

Risk Management Salary Guide For Europe Image
hiring advice

Risk Management Salary Guide For Europe

Are you a Risk Management professional considering your next career opportunity? Or are you a financial sciences & services leader that requires strategic talent to join your organisation? The Risk Management Salary Guide by Selby Jennings can assist, equipping you with the essential knowledge and insights necessary to make well-informed decisions, whether that's helping you attract top talent to steer your business towards success, or benchmarking your compensation against your peers. Spanning entry-level positions to senior leadership roles, this salary guide also covers compensation differences across key European locations, including London, Germany, and Switzerland. With 20 years of experience as a specialist talent partner in financial sciences and services, our comprehensive Risk Management Salary Guide empowers hiring managers and professionals alike. โ€‹Download the 'Risk Management Salary Guide: Europe' today:โ€‹โ€‹Building Risk Resilienceโ€‹Discover the overall Risk Management talent landscape with our dedicated report, that includes deep industry insights into the current state of financial services risk management recruitment.Also interested in Risk Management compensation in the USA? Access our US version of the salary guide here.

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Embracing Disabled Talent: Driving Success Through Inclusive Hiring in Europe

In today's evolving business landscape, recognizing and embracing diversity and inclusion is crucial. Despite progress, the potential of disabled talent remains largely underappreciated in Europe. Recent findings from our Selby Jennings poll shed light on the current state of affairs, with 55% of respondents admitting their hiring strategies lack provisions for candidates with disabilities. However, it is encouraging to note that 72% of workplaces have policies and practices in place to support employees with disabilities.The Missed OpportunityLack of Provisions and Representation: The finding that 55% of organizations do not have provisions for candidates with disabilities in their hiring strategies is a wake-up call. It indicates a significant missed opportunity to engage with a pool of talented individuals. Furthermore, the survey reveals that disabled individuals are particularly underrepresented in the banking and financial sector, with 78% of respondents recognizing the need for better representation. This highlights the need for a paradigm shift in how organizations approach hiring and inclusion.Policies, Practices, and Managerial Support: On a positive note, 72% of workplaces have implemented policies and practices to support employees with disabilities. This demonstrates an increasing commitment to inclusivity. Additionally, 73% of respondents believe their managers are equipped to manage employees with disabilities, indicating progress in fostering an inclusive work environment. However, it is important to ensure ongoing training and support for managers to effectively accommodate and empower their disabled team members.The Benefits of Complete InclusivityEmbracing complete inclusivity offers numerous advantages for businesses. First and foremost, it fosters a culture of equality, respect, and diversity. By hiring disabled talent, organizations can ensure they have a vast pool of skills, perspectives, and problem-solving abilities. This diversity drives innovation, creativity, and productivity, leading to better outcomes and a competitive edge. Moreover, a truly inclusive workplace enhances employee morale, engagement, and retention, as team members feel valued and supported.Embracing Disabled Talent - The Path to SuccessEmploying disabled banking and finance professionals can be a game-changer. Their unique insights, adaptability, and resilience brings fresh perspectives to financial institutions. By leveraging their talents, organizations can drive innovation, enhance customer service, and make informed decisions that cater to a broader demographic. Embracing this is a strategic move that positions businesses for long-term success.Taking Action - The Call for Inclusive HiringHiring disabled talent in Europe is not only essential for business success, but also for creating a more inclusive society. Embracing complete inclusivity brings diverse perspectives, encourages innovation, and engages the workforce. With the potential to access over 2 million candidates worldwide, Selby Jennings provides a unique opportunity to engage with talent from various backgrounds, including disabled professionals. By partnering with Selby Jennings, organizations in Europe can expand their reach, access a diverse pool of skilled candidates, and further enhance their inclusivity efforts. Request a call back today and together, we can build a prosperous future that celebrates the contributions of all individuals.

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insurance-and-actuarial

2023 Bonus Season Breakdown

Discover the latest analysis of bonuses and rewards in the Financial Sciences & Services industry, and how it impacts the talent market.Understanding bonus structure has become not only a critical aspect to businesses in attracting and retaining top talent, but also for professionals in knowing their true value.Analysing the rewards arrangement across the Finance and Banking industry, we surveyed over 2,000 professionals based in Europe to discover:What value their bonuses are Whether they are satisfied with their bonusKey drivers behind their bonus pay-outsPerformance metrics used to determine bonusesย Offering valuable insights to both professionals looking to benchmark themselves, and for businesses reflecting on their compensation strategies, both parties can take away a number of key considerations from this exclusive report. โ€‹Download your copy of the 'Bonus Season Breakdown' report by completing the form below:โ€‹

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private-wealth-management

How to Make the Perfect Job Offer

โ€‹Finding the perfect candidate for your latest role can be a long and arduous road. Once you have found the employee with the skills you need and an attitude which will fit perfectly within your team, it is time to make your job offer. In a perfect world, you will get an enthusiastic acceptance. However, if you are hiring in a busy sector, or trying it, is likely you may have to negotiate salary and other benefits before you can seal the deal.Competition for talent is fierce. The pressure is on for hiring managers to secure the right candidate by offering an attractive compensation package before they accept an offer from a competitor. The aim of a salary negotiation is not to find a compromise where both parties are dissatisfied but find a balance where you both come out feeling valued, and enthusiastic about moving forward. Negotiating salary can be a tricky business that requires a high level of strategy.โ€‹Set your limits before you advertise the jobSalary negotiations can be complicated - planning will give you an obvious advantage. Before you even start interviewing your candidates, you need to choose the right salary to advertise, including the upper limit to where you are willing to negotiate for an exceptional candidate.Your lowest salary offer should still be in line with industry standards, with your upper limit reserved for excellent candidates who will offer extra value to the role. Donโ€™t include your upper salary limit in any of your job advertising or recruitment efforts. There are several elements to consider when deciding on monetary compensation, including:The seniority of the position on offerโ€“ how many people will they be managing? Will they be heading up important projects?The current labor marketโ€“ will this be a difficult or easy position to fill?The current performance of your companyโ€“ how much can you afford to pay a new candidate?The skills required for the job โ€“ are they rare? Do you need a specific combination of hard and soft skills?The salaries of others in the companyโ€“ is the upper limit offered still within the bracket you have set for others at this level?Your locationโ€“ are you based in an expensive city or area where more compensation is needed to make up for elevated living costs?The best way to avoid negotiation is to ensure your initial offer is attractive and fair compared to benchmarks within your industry. Use online tools such as PayScale and Glassdoor to look at salary benchmarks for similar roles within your sector. Remember that it is likely your candidate will also be using these tools to make their own comparisons.It is also vital to keep within existing pay levels within your company. Going above these may help you secure a candidate but can lead to issues further down the line where other team members may feel undervalued and demoralized.Find out your candidateโ€™s current salaryThe candidate you are interviewing is under no obligation to tell you their current salary, but there is no harm in asking politely. This information is important when it comes to negotiating a salary. If their current salary is higher than your upper negotiating position, then it is time to question if they are the right candidate for you. This is best done early in the interviewing process. You can ask a candidate their desired salary in the interview to prepare for later negotiations and speed up the process. This allows you to root out candidates who are holding unrealistic salary expectations.Make a fair initial offerIf you want to avoid a lengthy negotiation period, make sure your initial salary offer is a fair one. Though it is not an official rule, it is a given that most professionals will be expecting at least a 20% pay rise when seeking a new position, particularly with the cost of living increasing. However attractive the position is and however great the benefits your company provides are, salary is still the main motivating factor for taking a role - you need to offer a fair package to a skilled candidate which remains within your company guidelines. Your offer needs to be a fair reflection of the candidateโ€™s experience and skills.Lowballing your candidate in anticipation of a counteroffer will only lead to your candidate regarding your company with suspicion, and you may gain a reputation as a timewaster. Salary negotiations should not be treated the same way as trying to sell a used car. Consider the long-term impact of the hire during your negotiations. Making a fair offer will help bring more value to your company in the long run through the work of an employee who knows that they are respected and valued.Conversely, offering a very high number to your candidate can come across as desperate and make your candidate second guess their decision to take up the offer. Your candidate will be aware of the value of their current skill-set, and a high overvaluation can lead to further suspicion and hesitation from the employee. Finally, ensure your initial offer is lower than your upper range, which should have been decided before the job was advertised, to leave room for negotiation.Highlight benefits beyond salaryIf you are aware of competitors in your market who can provide bigger salary packages than you, consider the benefits of working for your company beyond the wage. Depending on your candidate, some of these benefits can be very attractive in helping improve the employeeโ€™s quality of life. If you are unable to completely match a salary request during a negotiation, there are other benefits you can offer that may entice a new employee to join. These could include:Additional or unlimited annual leaveโ€“ a generous holiday offer, including the recent trend amongst start-ups to provide unlimited leave, shows a level of trust and value.Flexible workingโ€“ Allowing employees to work from home one day a week or schedule their work around their lives using a flexi-time structure is particularly attractive to those with children.Professional developmentโ€“ If there are opportunities for the candidate to take on additional training, learn new skills or start a new progressive career track, there is more long-term value in taking the role offered.A positive company cultureโ€“ If the candidate is coming from a toxic or high-pressured atmosphere where they experienced burn-out, it may be an important and attractive prospect to work in an office with a supportive and positive atmosphere. Statistics such as staff retention rates and testimonials from other employees can help support the representation of your culture.Perks- such as free gym membership, funding for travel into work, subsidized lunches, attractive office facilities, and social opportunities.These can all be compelling reasons for your ideal candidate to choose your role, even if the salary isnโ€™t what they expected. These benefits can help employees save money, cut down on stress, and enjoy their role. This provides compensation which focuses on quality of life - which can be very appealing during negotiations.Offer alternative monetary benefitsIf you are facing troubles in salary negotiations and it looks like you may lose the candidate who will bring the most value to your company, it is worth considering offering additional monetary benefits. These can include:Performance-related bonusesโ€“ agree to pay a bonus if certain targets and milestones are hit.Commissionโ€“ some roles can benefit from a commission rewards system, where the employee is compensated for business and leads generated for your company.A signing bonusโ€“ a one-off signing bonus rather than a higher salary bracket is often a great way of satisfying both parties. It shows enthusiasm for wanting to onboard the candidate quickly while saving your company on payroll in the long term.A later salary negotiationโ€“ if you are unsure about offering a higher salary bracket now, you can promise another negotiation over salary after a probation period, on completion of a training course or if a performance target is hit. It is vital that you do follow up on this promise, as you do not want to lose the trust of your new staff member.Shares or profit-sharingโ€“ get your candidate invested in the success of your company by offering shares as part of the job offer.The importance of feedbackProvide succinct feedbackYour feedback is the most important part of your communication with a rejected applicant. Good interview feedback needs to be succinct, considerate and honest. It is often the case that there was nothing particularly wrong with the candidate, but there just happened to be another candidate with more relevant experience or stronger skills. Stating this to a candidate should not offend their feelingsโ€”itโ€™s the reality of job hunting in a busy and high-quality labour market. You donโ€™t want to provide a lengthy critique which kicks your applicant when theyโ€™re down, but providing constructive and specific feedback will also be useful for your candidate.Request and value feedbackAnother way to show respect to a candidate and gain a brand advocate is to ask for feedback on your interviewing and hiring process. You have given your honest and succinct feedback, respect that hiring is a two-way street and request some feedback on their experience. You can do this either in your phone and email correspondence, or set up a feedback survey to collect data from several rejected candidates. Requesting feedback shows you value and trust the opinions and viewpoints of the candidate, alongside providing you as a hiring manager with useful insights on how you can further optimize and structure your recruitment and candidate search process.Be honest about future opportunitiesIn some cases, you may be rejecting a candidate you have a genuine interest in hiring in the future. Maybe they werenโ€™t quite the right fit for the current role, but they may slot into your future growth plans. If this is the case, tell them. However, do not finish a job rejection on a false promise if you know you have no interest in hiring the candidate now or in the future. Only invite a candidate to apply for future roles if you think they would be a good cultural fit in your company in the future. Inform them if their details will be kept on file within your company for future positions.Gaining a brand advocate in a rejected candidateEnding a job rejection on a positive note is no mean feat, but it is the first step in nurturing and maintaining a good relationship with the candidate and gaining a brand advocate. You want to keep qualified candidates of exceptional quality active within your talent pool, and maintaining positive communication with a rejected candidate may save you on hiring times and costs at a future date. Stay in touch with rejected candidates, either via email or professional social media such as LinkedIn. Follow up on their progress, and congratulate them when you spot they have landed a new job.You can keep up communication through inviting rejected candidates to events or seminars hosted by your company, a networking opportunity for both you and your candidate. You can also ask to add the candidate to your email newsletter database, or suggest they follow your company on social media so they can stay informed on hiring and growth. Treat candidates as you would like to be treated. Keeping up positive, timely, succinct and direct communication will gain you a brand advocate and a new addition to your passive talent pool.These guidelines can help to negotiate and extend the perfect job offer that's impossible to refuse. Once the offer is made, this isn't the end of the process -the ball still remains in the candidate's court. As a talent specialist with a well-garnered candidate portfolio, we are a one-stop solution for all your talent needs. Contact us today and we can help in the job offer process.โ€‹View and download your free printable version belowโ€‹

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How to Decide if a Job Offer is Worth Taking

โ€‹Landing a job offer is a great achievement and it can be tempting to grab it with both hands, particularly if youโ€™ve been focused on the interview process for some time. Yes, crafting CVs and cover letters, researching companies and positions, preparing presentations, and attending interviews are all time and energy consuming parts of the process, especially for senior-executive level roles, but there are important considerations to be made before you make a concrete decision on one offer.You spend the majority of your day at work, and even outside of your time on the clock, your job will inevitably have an impact on your personal life, too, and even that of your family. For example, the length of your commute, the number of holiday days, and the flexibility the role offers will all affect your quality of life, and so itโ€™s imperative that you accept a job offer for all the right reasons.โ€ฏEven your dream job role will have positives and negatives, and it is worth taking some time to consider the offer and what it means for your finances, your work-life balance, and your future. In this guide, weโ€™ll walk you through the questions you should ask to help you decide if a job offer is worth taking, and how to decide whether to accept, reject or negotiate the role offered. If you are in the fortunate position of being able to consider several offers, this article can also help you with making your choice on which offer to accept.โ€ฏAm I happy with the salary offered?One of the headline aspects of a job offer to be considered is the salary on the table. Depending on where you are with your career, the salary should reflect your skill set and general value within the current labor market, and should ideally be at least 10% above your current salary package, otherwise the move may not be worth it. Use websites such as Glassdoor to research equivalent salaries and make sure youโ€™re getting offered the right amount. Obviously, there is so much more to consider when thinking about a job, but if the salary is lower than you expected, you may want to consider negotiations. If the base salary is lower than you would like, your overall salary may be boosted with bonuses and/or commission, or you may be offered a salary package with perks such as subsidized health care or childcare. This is an opportunity to work out a package that suits you as an individual.The role may offer you a salary that is initially disappointing but puts you on a guaranteed and exciting career track with a larger reward in the near future. Also consider the satisfaction of the job if you are offered a big step-up in pay. What demands will this new role put on you? While an impressive new wage can be attractive, it may weigh lightly against the additional stress and pressure that comes from an increase in responsibility. Itโ€™s good to be challenged from a new role, but not at the expense of your long-term happiness, so itโ€™s important to find the balance between financial compensation and quality of life.What are the benefits?Alongside the salary, look at the break down of benefits and perks offered by the new position. If these arenโ€™t outlined fully in your job offer, request the full details from the hiring manager. Some companies offer bumper benefits packages, which can be considered as valuable as your initial salary package.โ€ฏLook at the following benefits when evaluating a job offer:โ€ฏAnnual leave - is there a generous allowance for paid time away from the office?โ€ฏDoes the role have a good pension? What is the employer contribution to your pension?โ€ฏHow good is the health insurance provided by the company? What does it cover, specifically?โ€ฏDoes the role provide large money-saving perks, such as a company car, subsidized childcare, or paid memberships?How will the role affect my work/life balance?Work/life balance is extremely important not only to your happiness, but also to your health, relationships, and even your success within your role. Consider the responsibilities of the role - are the day-to-day tasks stimulating and satisfying to you? Do they encompass the positive aspects of your previous role where you experienced success and growth? Will they challenge you to develop new skills/areas of expertise or are the tasks simply outside of your expertise or interests? Think of how the job will slot into your life, and how much control you will have over your work/life balance within the role.โ€ฏA large element to consider is whether the role offers flexible working, which may be particularly important if you have children. A role that allows employees to build their hours around their family obligations and provides regular opportunities to work from home can be far more appealing than a role that pays more but provides no flexibility. The commute also needs to be considered when evaluating a role for work/life balance. Is the role in a hard-to-reach location? Will you be dealing with daily traffic jams? Is the role reachable by public transport? How much will the commute cost in train tickets or petrol and parking? A job that requires a lot of travel can be exciting but can have a negative impact on your work/life balance as it can be tiring, costly, and time-consuming. If a lot of the role is spent โ€˜on the roadโ€™, you will need to consider how this will affect your quality of life long-term.Am I a good cultural fit?Hopefully, during your application and interview process, you will have had a taste of the company culture at your potential new organization. Review the businessโ€™s employer branding materials, their social media accounts, and testimonials on sites such as Glassdoor for more information. Your work environment is one of the most important factors to consider when deciding whether to accept a job offer. You will be spending around 40 hours a week there, so think carefully about whether that prospect makes you excited or anxious. Regardless of the job title, salary, or perks, accepting a job offer from a company where you will be glad to spend your time is whatโ€™s most important to your health and happiness.Lean into your intuition and consider any potential red flags you may have identified. In some instances, it may be appropriate to request another visit to the office to talk to team members before saying โ€˜yesโ€™ to the offer, or you may request another more informal chat with your manager to ask any lingering cultural questions. This may help you to get a good sense of the types of personalities within the company, and find out how the office operates and where you would fit in. Are teams encouraged to work collaboratively, or do they tend to work as individuals? Is there good camaraderie within the team? How do they support each other? Ask for examples to get the best understanding.โ€ฏCan I work well with my peers?The people you work with, and indeed those you report to, can make or break a role. It is vital to your overall enjoyment of your job that you are working with people who bring out the best in you, as well as a team that will be receptive to your attempts to bring something new and beneficial to the company.When considering a job offer, try to find out who you will be reporting to and who will be reporting to you. It is likely that the former will have been involved in the hiring process, but if you havenโ€™t met them, you may want to arrange a meeting or a phone call to discover more about their leadership style while you consider a job offer. Ask what would be expected of you in terms of delivery and performance and run through a typical week within your team. If the ideas and working style of those around and above you donโ€™t run alongside your own you may want to reconsider taking the job offer and keep on looking.Does it advance my career?Youโ€™re already on the job hunt, so your career progression will naturally be on your mind at this point. You may have an offer for a role that advances your career immediately, but the move could be a bad decision in the long term. Does the current job offer allow for further growth of your skills and talents? Or are you moving into a position that may lack the challenge you need in order to develop? Itโ€™s a good idea to investigate the training and networking opportunities provided by the role. Do you have time in your role to learn new skills, or attend sector conferences that will keep you informed of trends in the market? Does the business have a budget reserved for career development and further education of its employees?โ€ฏLinkedIn is a good website to research this. You can look into the career paths of current and former employees and see how those within the company have progressed either internally or through new roles. You may want to reconsider a job offer for a role where there is little progression or growth, or from a company that has no immediate growth plans, or any career development programs. On the other hand, you may wish to include this in your negotiation process.Am I happy I got the job?Now you have considered the salary, the benefits, your work/life balance, the culture, your colleagues, and your career development goals, the final element to consider is your general โ€˜gut feelingโ€™ when it comes to considering the job offer. Are you ecstatic to get the offer, or do you have your reservations? If you are reading this, thereโ€™s probably a reason you are taking your time to make a decision. Of course, there may be more personal factors at play that may incentivize you to accept a role quickly, but it is worth taking your time to consider how the prospect of starting this new position truly makes you feel.โ€ฏNo job offer will be perfect, but it is important to trust your gut when an offer comes through, even if it just sparks some more honest negotiations. If you are unhappy with the lack of flexibility within the role or have doubts about opportunities for development, it may be better in the long-term to turn down the offer. Trust your instinct and intuition. If something is telling you taking the role is a bad idea, write up a list of pros and cons and weigh them up. Moving jobs is a big decision that affects many aspects of your life and steers your future. A bad gut feeling may be leading you to something better suited.

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