Last year’s tight labor markets are given marketing and distribution professionals in alternative investments a lot more job mobility and the opportunity to earn a higher paycheck.
According to Sasha Jensen, founder of eponymous executive search firm Jensen Partners, compensation skyrocketed for these professionals, including those in junior roles.
This comes alongside more movement generally in the industry. With increasing competition among alternative investment managers for investors’ capital, firms are in search of the right employees to raise funds. What’s more, long-established and new alternatives firms have started launching new products and strategies — meaning there are more jobs for the taking.
“The Great Resignation in our universe just meant multiples of new hiring,” Jensen said. But it’s not as though companies are struggling to find top talent.
“It’s extraordinarily competitive,” Jensen said. “The minute that one person leaves, there’s a new hire straight there.”
Jensen noted that demand for specific technical marketing roles is high right now. Job candidates need deep product knowledge for the specific sectors they are targeting, whether that is environmental, social, and governance strategies, infrastructure, or cryptocurrencies.
Candidates with experience in insurance solutions or as heads of consultant relations are particularly in demand right now, Jensen noted.
Jensen has been tracking data on people moves since 2016 — 6,500 job changes in total — using algorithms to aggregate these career changes. According to Jensen, more than two-thirds of those have come in the last two years, with a record of 2,654 moves in 2021 alone.
According to Jensen, the firm has hired 18 data scientists in the past two years to stay on top of this hiring data. They have created “a number of algorithms,” including ones that search LinkedIn, and track 900 alternatives managers. When a person leaves or gets hired by one of those managers, the firm receives a notification, according to Jensen.
So far in the first quarter of 2022, Jensen said the data scientists have tracked more than 600 moves.
And for these job-hoppers, the compensation is sweet.
In total, she estimated that firms boosted payouts for these pros by between 20 and 40 percent.
“A lot of global heads of marketing called me in frustration, saying they’d have to pay their team more,” Jensen said. “I think it’s been a long time coming. Founders of firms value people who are raising the money for them to manage.”
She added that it’s unfortunate that the compensation increase took place in such a short time frame. Another boost like that isn’t likely for the coming year.
“I think compensation will plateau in 2022,” Jensen said.