The labor market in banking at the beginning of the year: what gets blocked, what is being sought, and what is NOT publicly said

At the beginning of the year, the labor market does not enter a blockage. It enters an evaluation phase. In banking and financial services, this stage is less visible publicly, but extremely active behind the scenes.

On the surface, the messages seem discouraging: announcements about restructurings, exits from the market, budget freezes, or candidates saying they can no longer identify new opportunities within the system.

The reality, however, is slightly different.

The need is not blocked. The decision is suspended.

According to the McKinsey Global Banking Annual Review 2025, 2026 is described as a year of selective execution, not of expansion or prolonged analysis: strategic directions are already set, and the pressure now shifts toward operational clarity, individual accountability, and leadership alignment with new priorities.

This explains why many roles are discussed but not published; tested but not approved; existing as a need, but not yet as an active mandate.

This dynamic creates the perception of a “frozen market,” even though decisions are in progress.

Why senior leaders perceive the market as blocked

The data confirms this tension:

• recruitment processes for senior roles are longer and more fragmented;
• a significant share of management positions are explored confidentially;
• role approvals go through more layers of validation than in previous years.

Not due to a lack of trust in candidates, but due to increased decision risk.

In regulated industries such as banking, management mistakes are costly, and organizations prefer fewer moves, but better calibrated ones.

What types of roles are being searched for quietly

According to the Antal Europe Hiring Report 2025, during recalibration periods, demand does not disappear, but concentrates on system-critical functions:

• Risk & Compliance,
• Internal Audit,
• Finance with a business partner role,
• Transformation, data, governance.

The key difference is that these positions are not aggressively promoted publicly, do not have standard job descriptions, and are explored through direct conversations and executive search mandates.

What is NOT publicly said about this period

1. Restructuring does not mean a lack of hiring
   In many organizations, reducing certain areas creates space for more specialized and more senior roles.
2. Senior professionals are not rejected, but evaluated more deeply
   Decisions are slower because the stakes are higher.
3. Access matters more than applying
   For senior roles, informal channels, reputation, and positioning are decisive.

Why this context favors executive search

In such periods, traditional recruitment reacts too late. Executive search operates differently:

• it anticipates the need,
• tests the market before a role becomes “active,”
• creates a space for reflection for boards, not just shortlists.

For candidates, the message is clear: the absence of job postings does not mean a lack of opportunities, but their movement into less visible channels.

Conclusion

The labor market in banking is not blocked. It is in strategic waiting mode. Those who understand this mechanism—whether candidates or organizations—will have a real advantage in the months ahead.

If you are a senior leader and want to understand where you stand in a market that seems quiet but is moving beneath the surface, or if you represent an organization seeking clarity before making a critical management or niche-role decision, we can have a focused conversation about context, options, and the right next steps.

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