Financial Services Market Data Report 2017

JW Michaels Compensation, Compliance / Risk Management, Executive Search, News


The JW Michaels & Co Financial Services Market Data Report 2017 is now available!

The data appearing in this compensation report were collected by comparing invoiced placements made by JW Michaels during 2017. The report presents compensations grouped by size and type of firm as well as by job title.

“We believe that educating our constituents on the current compensation levels in the areas we serve will help our clients to be more informed when they decide to hire a candidate,” states Jason Wachtel, managing partner at JW Michaels & Co. “This report will also help our executive job seekers make better career decisions.”

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10 Commandments for First 90 Days of Your New Job

JW Michaels Compliance / Risk Management, Job Applicants, Practice Areas

Congratulations! You made it past the interview process and landed the new position you’ve been eyeing. Now that JW Michaels has connected you to your new company, it’s time to create a notable first impression and set up habits that will lead to ongoing opportunities within the company. Although the following tips are crucial the first few months on the job, carrying them through beyond 90 days is just as important.

  1. Seek a Mentor

A mentor is a valuable asset to have when learning the ropes of a new company culture. Seek a mentor who has once held the position you’re in now, and they can help guide you. Gracefully accept their tips and advice on how they did things in the position, then make the position your own and leave your own mark on the company. The most important aspect of a mentor is forming a long-lasting bond that is mutually beneficial.

  1. Be Willing to Go the Extra Mile

It goes without saying that showing your employer you’re willing to go the extra mile for the greater good of the team will get you noticed. By establishing your willingness to stay late, take control on projects, be a team player and prove your worth in the first few months on the job, it will be clear you’re someone they want on their team in the future.

  1. Avoid Office Cliques

Office cliques and office politics can sometimes lead you down the wrong path. It’s never good to be associated with any kind of negativity, so avoid it at all costs. Be polite and friendly when confronted with gossip, but always decline to participate.

  1. Participate in Team Bonding

Participating in team bonding will allow you to form relationships and comradery with your colleagues, proving further that you’re a team player in all aspects. If invited to an office kickball game or even an after work happy hour, join in and put your best professional foot forward.

  1. Be Accountable for Mistakes

Mistakes are inevitable, especially the first 90 days on the job. The best way to recover from them is to be accountable and learn from them. There’s always a learning curve associated with a new job, so don’t be too hard on yourself when mistakes are made.

  1. Make Short-Term Goals

Make short-term goals for yourself starting on the very first day. By the end of your first 90 days, your career path should be clear to you. Do you want to stay in this position for the long-term, or work towards climbing up the ranks? These are questions you should have answered 90 days in.

  1. Ask Questions

Don’t be afraid to ask too many questions. The clearer your job description is to you, the more you can excel at it. No one will assume you have all the answers right away; it takes time to get adjusted to a new role and new companies. Stay on your toes and ask the questions you need to be great at your job.

  1. Get Involved

Get involved. Introduce yourself. Stay motivated, learn, listen, observe and perform. The first 90 days on the job is the time to form team bonds, show what you have to offer and let your hard work and talent speak for itself. Remind your employer why they wanted to hire you in the first place.

  1. Stay Organized

Organization is a large factor in achieving success. Without staying organized, you can get in your own way and sabotage yourself on deadlines or other commitments. Find a rhythm and keep yourself accountable, especially in the first few months while you’re just getting started.

  1. Leave Your Comfort Zone

This is one of the best pieces of professional – and personal – advice. Get uncomfortable and push yourself to be the best you can be.


At JW Michaels, our Executive Recruiters combine practical expertise, industry intelligence, and a passionate commitment to source the finest candidates who meet – and exceed – the exacting requirements of our clients. We’re all about helping our clients become smarter, stronger, faster, and more profitable, by providing them with the most valuable asset a company has – intellectual capital. And we help our candidates find career opportunities, and make smart decisions, to facilitate their professional and personal growth. 


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honest job applicants

Research Finds 1 out of Every 6 Job Applicants Lie on Resumes

JW Michaels Compliance / Risk Management, Executive Search

Employers should keep their eyes peeled for resume fraud now more than ever in 2018, new research will support. The findings of a Trends and Insights Report by AuthBridge found one out of six job applicants lie on their resumes, a 50% increase from 2016.

The applicants were found to mostly lie about employment related information (12.14%), followed by address (6.67%), references (3.35%) and educational qualifications (1.56%). The report also found males were more likely to lie than females, with 15.71% male candidates found guilty of fake information on their resumes vs. 13.09% of women.

More evidence to support resume fraud comes from the findings of a poll on employees from staffing firm OfficeTeam.  Forty-six percent of employees said they know of applicants who have lied on their resume. The most common lies reported were once again embellishments about educational credentials, as well as stretching employment dates to cover up career gaps and exaggerating about skills.

Hiring managers should be proactive about this resume fraud epidemic, and the following are examples of how to catch applicants in resume lies:

  • Follow up with references
  • Ask for documents that support claims
  • Background checks
  • Use behavioral interview techniques

JW Michaels is a leading executive search firm committed to providing specific recruiting needs of top-tier financial services, accounting, legal, technology, and business institutions. Our clients consist of investment management firms, hedge funds, investment banks, law firms, and Fortune 500 companies in every industry. We help place compliance officers, general counsel, patent counsel, IT, legal, accounting, and risk management executives. We are dedicated to your executive search.

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What Recruiters Really Want to Know When Asking Non-Traditional Questions

JW Michaels Compliance / Risk Management, Job Applicants

Every recruiter or interviewer has a different style, but interviewees should be prepared for it all. As a job applicant, your goal should be to demonstrate you’re forward-thinking, adaptable and a problem solver throughout each phase of the interview process both verbally and non-verbally. When recruiters or interviewers ask a candidate a non-traditional question, the way the applicant answers that question can reveal noteworthy information about their personality.

Standard interview questions usually uncover information about a job applicants’ work history, but non-traditional questions often uncover how they will perform on the job, which leads to finding out if a job applicant is the right fit. Below are a few examples of non-traditional questions a recruiter might ask that will uncover a job applicant’s organizational style, ability to fit in with the team and their creativeness.

• What are the first few things you do when you get to work?
• Are there any types of personalities that get under your skin?
• What do you read on a regular basis?
• If you could do anything for a living, what would it be?
• What’s your favorite movie and why?
• Who is your favorite superhero?

Companies often find themselves in situations where interviewees don’t live up to their expectations when it comes to job performance, and that might contribute to the applicant simply mastering the art of a traditional interview. For instance, rehearsing answers to questions they know recruiters want to hear. Traditional questions can help weed out the job pool, but they aren’t always the best predictors of how applicants will be once they land the job.

So what’s the point in asking a non-traditional interview question? The short answer is it helps assess the type of personality the job applicant has and whether they’re the right fit for the job or the company culture.

For example, asking “if you had the ability to choose any super power, what would it be?” is an odd question to ask in such a serious setting. The real takeaway isn’t the applicants’ answer, it’s the thought process behind it. Posing this type of question will likely catch the applicant off guard, which in turn can bring personality traits to light that wouldn’t have otherwise presented themselves. Are they quick to blurt out any answer? Are they carefully constructing a meaningful answer? Are they enthusiastic, or shrugging off the question completely? These different scenarios will play out, which will reveal their personality and help recruiters or interviewers gauge how they problem solve or deal with swift changes in the job.

Quirky, non-traditional questions will uncover traits like how adaptable you are, how well you can solve real business issues, and your managing style. Perhaps mixing traditional and non-traditional questions can help prevent recruiters and interviewers from hiring the wrong candidates, and reveal the right candidate for the job sooner.

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New Law Bars Employers in NYC from Asking about Salary History of Applicants

JW Michaels Compensation, Compliance / Risk Management, News

JW Michaels & Co. compliant with Local Law 67 of 2017 – New Law Barring Employers in NYC from asking about salary history of applicants.
JW Michaels & Co. navigates you through a critical new law prohibiting employers in NYC from inquiring about applicants’ compensation history.

As you may be aware, a New York City law broadly prohibiting inquiries into the compensation history of applicants for employment will go into effect on October 31, 2017. This ban includes inquiries from recruitment and staffing agencies acting as the agent for an employer.

The law will prohibit employers and recruiting firms (and their employees and representatives) from asking a job applicant about his or her “salary” history, and from relying upon the salary history to make placement, recruitment, and hiring decisions. Importantly, salary history is broadly defined and includes an applicant’s current or prior wages, salaries, bonuses, benefits, or other compensation.

Navigating New NYC Local Law 67 of 2017

This presents challenges for employers and recruiting firms not only to ensure that they are compliant with this new law, but also in devising new and creative strategies to gauge candidate performance and productivity, in order to make the most competitive compensation offers.

Employers in New York City will need to make critical changes to internal hiring processes and related employment documents, thoroughly auditing policies at all stages of the recruitment and selection process.

Rest assured, JW Michaels & Co. will operate in full compliance with this new law and can assist you with your hiring process to ensure that you are fully compliant as well.

JW Michaels & Co. Ensures Compliance With New Law

JW Michaels & Co. will no longer ask applicants and candidates for, or inquire about, compensation and benefits history; however, there are exceptions where we can provide information to employers with regards to compensation history:

  • If an applicant or candidate voluntarily and without prompting discloses compensation history to an employer or their representative, the law authorizes that employer or representative to consider the information in determining salary, benefits and other compensation for that applicant or candidate, and to verify that job-seekers compensation history. In such a case, after receiving the candidate’s consent, we can pass this information to clients, expressly indicating that the candidate voluntarily provided their compensation history, without prompting.
  • We will continue to discuss a candidate’s compensation expectations and a position’s targeted salary range. Similarly, we can ask a candidate to justify his or her desired compensation based on skills, experience, and training.
  • We can ask candidates about unvested equity or deferred compensation that a candidate may forfeit upon their resignation from their current employer.
  • We can ask candidates about any objective measure of the applicant’s productivity, such as originations, revenue, or other production data.
  • We can ask candidates about any competing or counteroffer.

Assessing Performance and Determining the Market for Compensation

Employers have often relied on a candidate’s prior salary history as a key factor in determining initial compensation offers. However, employers will no longer be able to rely on a candidate’s salary history, as that information will not be available. Employers will need to determine initial compensation offers on an assessment of a candidate’s skills, experience, and performance, and more importantly, the “market” compensation range for hiring requirements. That is where JW Michaels & Co. can add tremendous value.

JW Michaels & Co. is continually developing strategies to gauge a candidate’s skills, productivity, and performance, in addition to maintaining rigid standards in all of the above. We can provide you with qualitative and quantitative measures of a candidate’s performance. Our teams are skilled in gauging candidate productivity and reviewing past performance measures.

JW Michaels & Co.’s Partners and Senior Recruiters each have 10-30+ years of industry experience. We closely track compensation trends and have in-depth market knowledge into the marketplace. Given our market intelligence, we can provide detailed and accurate compensation data about a wide range of industries, functions, and seniority levels.

Should you have any questions or concerns, feel free to reach out to Justin M. Mandel directly by email at or call (646) 346-2457.

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Leader In Public M&A, Peter Harwich Joins Latham & Watkins LLP’s Global Corporate Department In NY

JW Michaels Compliance / Risk Management

peter.harwichLatham & Watkins LLP announced that Peter Harwich has joined the firm’s New York office as a partner in the Corporate Department and member of the Mergers & Acquisitions Practice. Harwich’s practice focuses on representing public companies in complex public and private M&A transactions, including spin-offs, joint ventures, and strategic alliances. He also has experience advising public companies on capital markets, securities law, and corporate governance matters.

“We are excited by the continuous growth of our global Corporate Department and leading M&A practice, further positioning us to support multinational companies that are increasingly looking for an interconnected global platform with seamless deal execution capabilities in multiple markets,” said Marc Jaffe, global Chair of Latham’s Corporate Department. “Peter’s practice is perfectly complementary to our current platform and our vision moving forward.”

Harwich joins Latham & Watkins from Allen & Overy in New York. He earned his BA from Columbia College in 1988 and his JD from New York University School of Law in 1991.
Click here to read the full article.

About Latham & Watkins

Latham & Watkins is a global law firm with approximately 2,400 lawyers in its offices located in Asia, Europe, the Middle East and the United States, including: Barcelona, Beijing, Boston, Brussels, Century City, Chicago, Dubai, Düsseldorf, Frankfurt, Hamburg, Hong Kong, Houston, London, Los Angeles, Madrid, Milan, Moscow, Munich, New York, Orange County, Paris, Riyadh, Rome, San Diego, San Francisco, Seoul, Shanghai, Silicon Valley, Singapore, Tokyo and Washington, D.C. For more information on Latham & Watkins, please visit the website at

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Jeffrey Lewis Joins Norton Rose Fulbright As Partner in the Global Law Firm’s New York Office

JW Michaels Compliance / Risk Management

Jeffrey LewisNorton Rose Fulbright on Tuesday announced that it has hired Jeffrey Lewis, a patent litigator and past president of the American Intellectual Property Law Association, as a partner in the global law firm’s New York office.

“Having grown into one of the 25 largest law firm offices in New York, we are becoming an even more attractive destination for world-class lawyers seeking a global platform. Jeff will bolster our IP practice and provide patent litigation capabilities that our clients desire,” Daryl Lansdale, U.S. managing partner of Norton Rose, said.

Click here to read full article.

About Norton Rose Fulbright

Norton Rose Fulbright is a global law firm that provides the world’s pre-eminent corporations and financial institutions with a full business law service. With more than 4,000 lawyers and other legal staff based in Europe, the United States, Canada, Latin America, Asia, Australia, Africa, the Middle East and Central Asia, Norton Rose Fulbright aims to provide the highest possible standard of legal service in each of our offices and to maintain that level of quality at every point of contact. To learn more about Norton Rose Fulbright, visit:

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negative feedback

5 Tips on Giving Negative Feedback

JW Michaels Practice Areas

Recruiters all face times they need to give negative feedback, but the goal is to deliver it effectively and constructively. No one likes to be the bearer of bad news, but it’s inevitable at certain stages of the recruiting process. For a recruiter, an interview can be seen as somewhat routine, but job candidates often view them as stressful situations. If a job candidate requires help in certain areas of the interview, delivering productive feedback can help them change the trajectory of their career and potentially land them a position in which they can thrive once they make the changes. Below are 5 tips on giving negative feedback where it’s needed.

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Jason Wachtel Discusses What’s Next For Former FBI Director James Comey with The New York Times

JW Michaels Compliance / Risk Management, Executive Search

james-comeyIn the recent NYTimes article titled What’s Next for Comey? Probably Not ‘a Normal Job’, by Matthew Goldstein and Alexandria Stevenson, Jason discussed what’s next for former FBI director James Comey. With a résumé that includes top federal prosecutor, chief lawyer for both the world’s largest defense contractor and the world’s biggest hedge fund, and most recently director of the Federal Bureau of Investigation, would a position at a large financial firm, corporation or law firm be big enough for him?

“He is so high profile now that just a normal job is way beneath him,” said Jason Wachtel, a managing partner at JW Michaels & Company, a recruitment firm that specializes in placing lawyers at hedge funds and private equity firms. “Most of the hedge funds aren’t going to be big enough for him.”

Read the entire article here:

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