Sluggish y-o-y senior hiring growth remains as companies focus on existing assets 
Explore the evolving trends in the Real Assets sector with our Q3 2023 report. Delve into the 17.8% increase in senior hiring and the significant year-on-year changes across subsectors like Asset Management and Advisory/Brokerage. Uncover the regional nuances and the varied demand landscape in this insightful analysis.
 
Senior level hiring increases by around 17.8% in Q3 2023 compared with the same period last year but continues to slip through the year, having peaked in Q1
After a second quarter this year that saw senior hiring increase by around 18% year-on-year, Q3 has seen hiring increase by almost the same amount. The

<div><strong>Sluggish y-o-y senior hiring growth remains as companies focus on existing assets <br></strong></div>
<div>Explore the evolving trends in the Real Assets sector with our Q3 2023 report. Delve into the 17.8% increase in senior hiring and the significant year-on-year changes across subsectors like Asset Management and Advisory/Brokerage. Uncover the regional nuances and the varied demand landscape in this insightful analysis.</div>
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<div><strong>Senior level hiring increases by around 17.8% in Q3 2023 compared with the same period last year but continues to slip through the year, having peaked in Q1<br></strong></div>
<div>After a second quarter this year that saw senior hiring increase by around 18% year-on-year, Q3 has seen hiring increase by almost the same amount. The numbers overall remain low, and it feels like this is a sector that remains in the doldrums in the wake of the interest rate shocks of 2022. With better macroeconomic news now coming out of the US, it will be interesting to see if this causes senior level hiring in this sector to pick up a little in Q4 in that market, or whether hiring will remain cautiously low until rates start to go down in 2024.  <br><br></div>
<div>Meanwhile, this appears to be a sector that’s hunkering down and focusing on optimising its existing assets rather than risking investing in growth, as the data should attest.<br><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWMyK3EwWkpPUjEwNjlrRVgwVWdIejlEQ2gxN2NSMmlhNjBxcGt5aEg3UFozN0RYYVN3SXhhZ3lvaFAzWmhxcS90L0tLaDREd1Z4NVFxR1Rld242eEM4PQ=="></div>
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<div>Looking at the global senior level hiring data in aggregate, hiring in Q3 of this year seems more buoyant than the same period last year, but this is to some extent illusory. Yes, the trend in Q3 2022 was more obviously trending downwards, and the chart looks flatter, but the numbers this year are only a little better, and the overall trend remains down. <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVpkWnpNVC9nK0grMEpxK0xXem9kYVE3V2poUnhVb2RWZithTHNkZUZhbEtzRlMxTkhYZmZxcFJJdkMxeEZhem1pZVhIMURRTWFMaEp5aDF0N09UTCtJPQ=="></div>
<div>Compare the Q3 chart with the charts for Q2 and Q1 above, and this impression only increases. Again we can see that demand for senior talent peaked in Q1 and has been locked in a slow decline ever since, as the monthly trend chart below makes even clearer:<br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWQrQ1o5Z2ZxRU1uQlZSbWJVT2hOT3kxNVdEVDNwRjRuV3BnKytIeWx2TUxiSWF0dHM5eis1S1Nzd3Y5Qkt6RTJOcXRGZlQ3Y0JyOHNja01MY1ZIMTJNPQ=="></div>
<div>Despite a slight rally in demand in July and August, the overall trend is flat or negative, indicating a sector that remains cautious.<br><br></div>
<div>Breaking this down by region: <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVRmTUhZTUJvNENTd1BtUWNERjhYaXNPNmI2WmRPa1k4YXBjQUtJYmtPUitERFNFVmdRdUYrbG5SLzA3RlB0enBnUmhSMGs2THE3SU9ZSkEzSUNjaXRjPQ=="></div>
<div>We can see that demand has increased in each of the major regions year-on-year, but when we look at the quarterly trends over 2023 so far:  <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWMyK3EwWkpPUjEwNjlrRVgwVWdIei9rc1dSbHlRQmNaVlQxaWVqZnJwaWtRTFQ3cEg5MVJIZmhYRC90Ykk5U0UzNDVZN1h0V3hSTGQxM3IxL3p0M0lzPQ=="></div>
<div>We can see from the charts above that senior hiring in the Americas is really driving the overall global trend. The sharp fall in demand in the Americas in September is due partly to data issues, but we will keep an eye on how this develops in Q4. <br><br></div>
<div><strong>Which sub-sectors saw the most senior hiring in Q3 2023?<br></strong></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVdLNDVuc3YvYW02WWRNTlZ4Z1lrKzc5RENMc2xJT2o3Zm9qVmRMakZWaGsweEdpSXZQUXBzMVVoWFdoOTJuQ1FTZVhIMURRTWFMaEp5aDF0N09UTCtJPQ=="></div>
<div>Taking a deeper dive into which sectors have seen the most senior hires in Q3 this year, it’s hard to separate out the subsectors with most demand. Compared this with the chart for Q3 2022, where Investments stands head and shoulders above the other subsectors, where demand was negligible.  <br><br></div>
<div>
<figure class="attachment attachment--preview" data-trix-attachment="{" data-trix-content-type="image"><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWNrSUk1akpYZU1hY05aaml1NFZsbDQvaTA4YUhJbGNjY1RmTTgyWEQxdXdYb3hmQU1HTUtHYVU2djZDQ2lkL2JjVU5SNXZobHR2d2x2TEFwZTJxcnl3PQ=="><br>
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 <br><br></div>
<div>Indeed, looking back at Q2 and Q1 2023, we see that demand is highest in Asset Management in both quarters – though of course this peaks in Q1. As demand for senior talent in Asset Management has eased throughout the year, so has overall demand taken a dip, as the other subsectors are not seeing enough demand to make up the gap – a trend that makes a lot of sense given the macroeconomic context already discussed. <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWVwdWlYUDF5ZHhTd3d2MmROKzBHMTQyTm1kd1lUYlZlT0ZyeFYyOWtSSmR4Tk9VNGRLdldLS1RrNHVlalJZZEk3b0ZrMkJBVnFrRGhmNGo2WVZRL0ZVPQ=="></div>
<div>Comparing subsector demand for senior talent in bar chart form, we can see that the senior talent market in Q3 2022 was dominated by the Investments subsector. Year-on-year, although it remains a significant proportion of overall demand, the numbers are way lower – down by around 84%. That said, demand in almost every other sector is way up, with Development, Asset Management and Advisory/Brokerage all significant. <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWZMc3U5TGlWbVRzK0t3Z2t6NG5waCtPek5TSWZHNk5zZHE1NVdxdnFtdVJIUmVGdERFNHFwRThZOXdNanFIUlg1SkxZTWFidkFPUU15NXkyRmdzN0I0PQ=="></div>
<div>Comparing the quarters shows us again that demand has been more evenly spread throughout the year compared with 2022, and that demand within Asset Management really peaked in Q1. That said, demand was really vibrant across the board at the beginning of this year, before settling down. This very much has the appearance of a market that’s waiting for circumstances to change before taking any significant talent relate risks. <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVczSDBLa25pNCtoSVU5aHVxd3gyUGYyN09xVmREZWNCYTZreFdjSnVQWS92OHlYRTRDV2I4bElxWWQxS1ZZcTVzWDc1YU42U3VZWEgzWTZEWENoVC9nPQ=="></div>
<div>The pie charts above reiterate just how dominant the Investments subsector was in terms of demand for senior talent in Q3 last year, while Q3 this year looks much more diverse in terms of demand, having three almost equal frontrunners in place of just one all-conquering one. <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWJ3OUYzNnQ4ejEvQzNjSDBlUno0SUlycXFuVjIyb282OXd0QWZwbXBvYnhSWHpUTWUweWJwc0dIcks4RWlTUWFYNDVZN1h0V3hSTGQxM3IxL3p0M0lzPQ=="></div>
<div>Comparing proportional demand for senior talent between the three quarters of 2023, we can see that this mix has remained relatively consistent throughout the year, with the relative decline in demand within Asset Management being the standout trend.  <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVhZTTM5M2pvUWc0QlBDK0hZNTNMejhtWVFtUVRJNVlnUytUQy9rWk5pTU5yVnJ5WlcvbHJoNTBKZkRuaWU2bSsrODlrc0V3MXdrYmM4TTlQS1BYNHBrPQ=="></div>
<div>Breaking down the senior hires regionally, the biggest point of note is how many more subsectors make senior appointments in Q3 this year when compared with the same period last year. It’s also worth noting that there was very little talent activity in EMEA or APAC in Q3 2022 when compared with Q3 of this year. So in terms of overall demand and regional demand, this year does look a lot healthier, even if the figures remain low. <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWFYeW8ySUpiMUhhSGZKd0hFeUJVYVc5Q3hGUnozKzRSLzg2OU1Va3gyYkdRRVBCMmF0aDlKdTQ3VHdxVVN4NDg4STJsNzNGSGYrWHVTVW9vaTJacm5FPQ=="></div>
<div><strong>Not much improvement in the top 10 positions year-on-year<br></strong></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVluNk1seXRoODV4cVArVUpWZ0VkNEtlUkRqa3JpMDcrODhXNXhSR2QxOFNCRk9kZFlzQUpIakhYMDkwMkg3clZuMEd5MFF5NHJOSE5EQ0RqanFWNnlnPQ=="></div>
<div>Having seen signs of increased vitality within the talent market in this sector, the chart above must give us pause once again. Here we see the numbers for the top 10 roles remain low, suggesting a dearth of strategic hires at the top level globally. <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVhkT0hCMUMrL0RIQlNYZHIxck9iWjVicURHQldPbEpsWTBPRDRiZFJNWDA3V01IYTQ2UVMyRVNzcG04R0FBQjl3YmNod1BTSDMveWsyNFBpQktWWlE0PQ=="></div>
<div>In fact, when we break down those figures on a regional basis, we see that there are several of the top positions with no hires whatsoever in APAC or EMEA, which again suggests a lack of vitality. This seems to reiterate the impression that the Americas region is the one to watch, and that it will lead global sentiment going forward.  <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVRjVkovN2h0VWVEZkVuVzlXZ3BiYVNTSm4veUx6UVdkem5nTmxOeEV4aEZ3R09ZNkxkdWxBNFFHWWphK0phVmg1aWd6U1BGNUYrd1FubWt5d0dFWHlJPQ=="></div>
<div>On a quarterly basis, we can see that demand for these senior roles has remained low even in Q1 when demand for senior talent was at its highest. And again broken down by region:   <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVJUUnVxU3IxZFhHcXRSOERaK1ZIYkpXNEY0ZzBMSm45N3NYS2xtNGRKNTB6VldEaWorL1BpaGVNWHd3c09HOTIzclZyOGExV1JoVkp0MnBGYzVvWmdZPQ=="></div>
<div>We see that the Americas has really been driving the trends throughout this year. <br><br></div>
<div><strong>Senior hiring trends within companies in Q3 2023<br></strong></div>
<div>Taking a deeper dive into which companies have been hiring the most senior talent shows us a lot of movement and very little consistency when it comes to the companies themselves, with not a single name appearing in both years. <br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVg0bzBCVUpBVGtXckNrS2lTVUQ1WVJFUHdGaVdhSVJ2cWhsdUpXQ243K0JoRjlIZ1BhVkd0WmhvdSt2UDQ4R3hIb3pzaDdwU28xWURaZ2ljMFRWbUEwPQ=="></div>
<div>These charts suggest a market where the biggest players are not taking any risks when it comes to hiring, although when we break this data down by subsector, again we see a fair amount of diversity of sector demand not just in Q3 of this year when compared with the same period in 2022:<br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZVVrdHUyOGlSZ3pWVG5iNEhIU0IyYVRNVUtEZndEaG1zNmhnM1RlTDFFWFJiTUxMSngwdHVudXhMcmRMdHNjVHY3ZEtyNDFMTHBXV2tiS3dQdTNucXZvPQ=="></div>
<div>But also when comparing with Q2 and Q1 of this year:<br><br></div>
<div><img src="https://api.talnt.sh/v1/images/THlRa0hvQ2NqaytmZGg0Ukx6aTlHWmQ0MDI5VHdUWmJ0NjlDRjlCZ1JYWjdpU2dvZHdyWE4zMmgzWWtoTFFJS3JadGovamNyY2xsbWdRSVo3RUpZZWNxVFpTc1JmRkoxNGkxRW56cHhMUnBsc25GNEhRanpQTWtZNk95Z1p1QTA3RUVXWFJFUTJzRUNLMXc1OTVBWXBiWFg5c1diRHVPUkJCdlFtNGE0Nk9NPQ=="></div>
<div>The numbers overall may have looked healthier earlier in the year, but the data suggests that the market has rarely been more diverse when it comes to subsector demand. In that sense, the market signals are decidedly mixed, and we wait to see if the trends in Q4 comes out any clearer. <br><br></div>

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Real Assets Hiring Pulse: Navigating Q3 2023s Talent Trends

Real Assets Hiring Pulse: Navigating Q3 2023s Talent Trends

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