As we predicted earlier in the year the job market in the financial service sector is vibrant but there is probably no net expansion in overall employment levels. The one factor that should not be ignored is the tremendous support that the job market has received from the extraordinary growth in the hedge fund industry.While most Funds are small and even the largest group employ at best a couple of hundred people the sheer number of funds and supporting firms or divisions in the traditional securities industry means that many an analyst, salesperson or investment manager that would otherwise have been unemployed is secure for now. This in turn supports salary levels for those in employment in firms that are not directly involved in Hedge Funds.
