Financial Services Market Data Report 2017

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

2017-MARKET-DATA-REPORT

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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CCO at Citadel Departs to be General Counsel of RA Capital

JW Michaels Compliance / Risk Management, News

Originally published by HFM as CCO at Citadel’s Aptigon departs after just 10 months.

Natasha Kassian, CCO of Citadel multi-manager unit Aptigon Capital, has left the firm after just 10 months to join RA Capital Management as general counsel and CCO, HFM Compliance has learned. Kassian joined Citadel in May 2017 after more than five years with Millennium Partners where she was deputy CCO.

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privacy compensation trends

Trends in Privacy Law Compensation

H. Lawrence Brown Compensation, Compliance / Risk Management

There is a strong need for in-house mid-to-senior level corporate privacy protection counsel. Our data trends indicate that compensation packages have increased significantly over the past few years. Base salaries are up, sign on bonuses have become more common, and equity packages are more aggressive.

The Candidate profile

A rock star candidate should have at least five serious opportunities on their plate in this market. If you don’t, read on.

Hiring companies are interested in lawyers with a significant privacy focus for the long term. They are looking for not only applicants with demonstrated ability, but also those who are a match culturally, philosophically about data, and stylistically.

The ideal candidate is 6-10 years out of a top 50 law school (2008-2012 JD range). He or she is BigLaw trained, ready to make or has made the first jump in-house, and looking for a role to lead on projects but not to manage (for example counsel/senior counsel types who are not yet a general counsel).
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Privacy and Security Trends

4 Privacy Trends to Watch in 2018

JW Michaels Compliance / Risk Management, Executive Search, Job Applicants

We spoke with Stacey Brandenburg and Kandi Parsons, two Shareholders with ZwillGen who advise clients on privacy and security for technology-related matters. Stacey and Kandi shared their expertise with us on privacy trends that need our close attention this year.

What to Expect from the FTC

With the Federal Trade Commission (“FTC”) poised to receive a new chairman and three new commissioners, 2018 could be a year of heightened activity on privacy and security issues. While it is too early to know whether the new leadership will increase the Commission’s enforcement efforts, we can anticipate many issues to watch. Here are just a few:
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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.Read More

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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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interview

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.
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interview

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 jmandel@jwmichaels.com 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 www.lw.com.

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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: www.lw.com.

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