Many people typically put a hold off their job search during the summer months, but if you’re looking to start a new job in the financial sector, now is the time to start getting ready to apply. Why? According to Mitchell Peskin, Partner and Executive Vice President of The Execu|Search Group’s Financial Services division, there is a major uptick in hiring after Labor Day.

“Many companies have requisitions that they need to fill before the end of the year, so there is a major push to have new hires in these roles by the end of October,” explains Mitch. “As a finance professional, not only can you expect to have a variety of new opportunities available in the next few weeks, but competition can be relatively low was well. With many of your peers delaying their job search in favor of utilizing the rest of summer as their vacation, getting the ball rolling as soon as possible on your job search is integral to success. If you are even contemplating making a move in the near future, as the application/hiring process itself can take up to several months, it’s important to ensure you have taken the initial steps necessary to prepare yourself for the search. “

That being said, although the number of candidates applying for any given position may be lower than the demand for talent, this doesn’t mean that businesses are going to sacrifice quality for the sake of filling a position. As a result, here are some proactive steps you can take during the post- Labor Day weeks to ensure that you are staying competitive.

• Update your LinkedIn profile with your most current information. Not only will the hiring managers at the positions you’re applying for be viewing your profile, but an up-to-date LinkedIn profile that includes your relevant skills and work experience may help you be found by companies looking to hire.
• Participate in industry specific online forums and/or attend relevant industry events. As the financial services business is constantly evolving, it’s important to stay in touch with new industry trends. This will allow you to be aware of in-demand skills and industry knowledge that you should emphasize on your resume and during interviews. Similarly, employers are looking to hire prospective employees with a genuine interest in their area of specialization. Showing that you belong to industry associations and believe that professional development is important can help prove this.
• If you’re feeling a bit lost in the job hunting process, working with a recruiter may help. In addition to getting your resume directly in front of hiring managers, they can assist with anything from interview prep to salary negotiations and coach you through the process.
• Ramp up your networking efforts and reach out to those in your network. Since the financial sector is such a specialized industry, reaching out to colleagues, former bosses, and other connections may help you uncover unadvertised or very newly open positions that you may not have found on your own.

On a related note, if you know you want to make a move but fear that you’ll miss out your year-end bonus, don’t worry! While it’s a common belief that employees will not receive their year-end bonuses if they leave the company before December, Mitch advises candidates against waiting until the New Year. “Almost 90% of our clients are aware of this concern and will offer incentives for candidates to make the switch” he says. These incentives can range from delayed start dates that allow you to collect your year-end bonus to a “sign-on” bonus that compensates for the pay out the candidate might be missing out on.

“Historically, we see about 40-50% increase in new job offers in September and October,” notes Mitch. “Taking the opportunity to jump on this spike in new opportunities is smart career move if you’re looking to start a new job in 2015.”