Does Sectorism Exist?

Whilst Sectorism doesn’t officially exist as a word in the Oxford English Dictionary, the theory is that it is extremely real and is as prevalent as ageism and sex discrimination according to a recent survey by FD Recruit; the leading recruitment specialist  of FD and CFO Directors.

The Economic down turn over the last few years has meant competition for places within the job market has hit an all time high meaning employers can be increasingly choosy when filling a new job vacancy, so the question on everyones lips is ‘is it impossible for experienced senior executives to change sector?’  Research by FD Recruit the leading CFO & Finance Director recruitment specialists seems to suggest that it has become extremely difficult for senior executives.  FD Recruit Surveyed over 300 senior Financial Executives and found that over 97% felt that sectorism existed in the current job market place. One candidate who wanted to change job sectors stated he had made over 300 job applications all for roles that he was highly qualified for, however has never attended an interview as his experience has proved to be too niche.

Phil Scott Director at FD Recruit agrees with this theory. “Only two in ten of our assignments are from clients who are open to candidates from varied sectors. These are mainly from companies who are in niche industries and do not have any competitors in their catchment area so are forced to cast out the net. Whilst clients state that personal chemistry is important if they are from one of the common sectors in most circumstances they will not have to look outside of their sector. Phil goes on to say “that this statistic is probably made worse when they are paying us a recruitment fee.  Many clients state that if they weren’t being choosey then they probably wouldn’t be speaking to a specialist like us and they would invest in advertising themselves. They approach us as we have an extensive network of Finance Directors and are able to satisfy a tight recruitment brief, so in some respects we are the victim of our own success”

When Phil was asked what advice he would give to anyone wanting to change sector; his reply was “I’d say that it’s important to use your own network. A personal recommendation can bump you up the queue and circumnavigate the fact that you may not tick all the boxes however you are an ideal candidate for the role”.

The overall advice is if you are unemployed and under pressure to get a job then stay within or as close to your sector experience as possible. If you are determined to move sectors then be patient, it makes sense to do this from an employed postion where you are free from personal financial stresses as it can take a while.