Why your job search feels harder than ever
If your job search feels slower, harder, more frustrating, and unpredictable, you’re not imagining it. The job market for Financial Services professionals in 2026 has been tough so far.
In this short read, we will explore why that is—and what you can do about it.
Changing Business Models
Many firms are trying to work out how they can operate more effectively with fewer staff. They’re cautiously experimenting with the integration of AI to improve efficiency while reducing costs. However, the trade off is that it’s led to restructuring, layoffs, and, as a consequence, more competition for fewer jobs. Even great candidates are struggling to get their foot through the door.
Confidence
As both the war in Iran and broader geopolitical instability continue, confidence has been knocked. Many managers are hesitant and cautious about making new hires. While there are clearly opportunities in trading a volatile market, that alone may not be enough to justify meaningful additions to headcount.
Hiring methods have changed
The use of recruitment technology means that candidates are often at the mercy of algorithms, submitting countless applications for only a slim chance of speaking to a human being about a role. Unless you’re clued up about how to get your CV past applicant tracking systems (ATS), this can be a major barrier even for strong candidates.
The power of human connection
With those three factors in mind, what can you do to increase your chances of finding—and securing—your next job?
Richard N. Bolles wrote the seminal job search book ‘What Color Is Your Parachute?’ 'in 1970, in the teeth of a severe recession. He has updated it almost every year since. I strongly agree with his view that you’re more likely to land your next job through human connection.
So, how can you translate that into actionable steps that help you maximise the success of your job search?
Understand market trends - Identify where the major opportunities are and which skills are in demand now—and likely to be in the future. This will help you develop a clear career strategy.
Refine your messaging - Ensure your value proposition is clear, compelling, and immediately understood by your audience.
Meet people - Find ways to add value and genuinely help others. Exchange information and stay in the flow of what is happening—who is hiring, and who might be about to. The key thing here is to be sincere - don’t give in order to receive.
Build real relationships - Developing a professional network where you’re known and trusted is a lifelong endeavour. Relationships and trust often outweigh qualifications—although ideally, you want both.
Be systematic - Have an approach that ensures every person in your network is properly nurtured and maintained. Above all, as mentioned above, be genuine and authentic.
Use multiple channels - Relying solely on online applications, recruiters, or informal coffees is not enough. Diversify how you connect with hiring managers. In a world of AI, this can make all the difference.
At Career Mentor, we coach people who want to take charge of their careers. We work closely with our clients, helping them identify and remove invisible barriers. Each stage of the job search is optimised—leading to stronger outcomes and better opportunities. If you’re interested in a free, no-strings-attached Coaching Call, let’s talk. Use this link to book a call at a time that suits.