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Summer update from GGR!
We know it’s been a while, and hope everyone is having a great start to the summer ⛱. As you probably felt, it was an extremely busy hiring market for the first half of the year (for context, we had 50% more placements in H1 2022 vs. H1 2021).
And then it started to slow….Over the past month, we have felt the market softening and it seems that everyone is just twiddling their thumbs waiting to see what the next 6 months hold (for more context, we are currently working on about half as many roles as we were at the beginning of the year and several companies have put their hiring processes on pause).
All to say - know that regardless of what happens and through the ups and downs -we are here for the long haul and will be around!
Time for some updates. TLDR (with more info below):
New roles & market POV 📈 While the public markets are highly volatile and there is uncertainty, lots of great companies are still hiring top talent.
New team member! 🧑💻 We’ve added a new talent partner and are now a team of 7….meet Bernadine.
(belated) Compensation Survey data 🤑 check out a sneak peek of the results
As always, we’re always happy to chat and be thought partners, coaches, and counselors (as well as recruiters) – send us a note and let us know how you’re doing!
❤️ Phil and the Golden Gate team
GGR welcomes Bernadine!
Bernadine recently joined Golden Gate Recruits as a Talent Partner, and we’re so excited to have her on board! She started at McKinsey, worked in PE at Charlesbank, and most recently was at Harry’s on their Strategy & Ops team.
Bernadine graduated from Penn but is actually from the Philippines originally, and now living in LA. She loves to hike, climb, and check out music and art. Her email is firstname.lastname@example.org, and she’d love to chat :)
Open Roles & Quick Market Thoughts
There’s a lot of uncertainty in the markets both public and private, and we’ve seen layoffs start to stack up in the startup world across company types, sizes, and stages. That said, we’re seeing companies with strong trajectories continue to prioritize hiring and take advantage of strong talent available on the market.
While we expect hiring overall in startups to soften over the rest of the year, we aren’t seeing anything like the April 2020 full stop. We encourage candidates to be more vigilant than ever in talking to companies around financials, runway, and equity dynamics in light of valuation adjustments - and think critically about the sectors and business models that they’re considering.
In times like these, the best companies are both thoughtful about their spend but also take advantage of finding amazing talent that otherwise wouldn’t be available and on the market.
Here are a handful of the exciting roles we’re currently working on, but we’ve got even more to check out on our Openings page.
GGR Compensation Study
Everyone has been asking us about compensation for the past 6 months….
Between Fall 2021 and Spring 2022, the market was wild. Candidates had unseen leverage in a hot startup funding environment, and most companies were willing to pay whatever it took to get key business hires through the door. We noticed the largest increase in compensation within a few month period that we’ve ever seen: 10-20% increase in base compensation over a 6 month period.
Since April/May of this year, we’ve noticed a stabilization where compensation is no longer constantly on the rise. Just remember that this is normal. For job seekers, remember that compensation should increase ~5% per year - not 40%. We shall see what the rest of 2022 holds!
Second, a bit delayed, but we wanted to highlight some of the results from the Compensation Study we ran earlier this year for 2021. We had just under 500 people respond so far and are sharing a few of the main takeaways from the study below ⬇️.
A big THANK YOU to everyone who filled it out. You should have received the full data set in your email already. If you haven’t received the full dataset and filled it out, please let us know.
For those who haven’t yet, you still can! Once you do, you’ll get instant access to our 2020 compensation study and then we’ll send you the 2021 data.
Here's the link to the survey ➡ 2021 GGR Comp Survey
❤️ Phil and the Golden Gate team