Christa Wallart

Junior Investment Consultant Fiduciary Advice, PGGM

'The pool from which employers can draw is getting smaller and smaller.'

What impact is the tight labor market having on you?

'The labor market shortage is strongly felt within the financial sector, especially in specialized positions. Attracting talent is a challenge, partly due to the high demands and the variety of skills needed in the sector. Add to that the fact that there is an increasing demand for diversity of thought, which means that the pool from which employers can draw is getting smaller and smaller. All of this requires targeted efforts, such as breaking through traditional patterns in recruitment and selection and actively creating an inclusive work environment. In the sector as a whole, you see organizations investing more in personal development, growth opportunities and flexible working arrangements to attract and retain talent.'

What makes working in the asset management sector appealing to you?

'The financial sector, and the pension sector in particular, appeals to me because of the combination of complexity and social relevance. As an investment consultant, you play an active role in advising on the strategic direction of the investment portfolio, something that directly influences the future of millions of Dutch people. The goal is therefore to ensure a good pension within a liveable world. Every day is a challenge to find the right balance between sustainability, risk and long-term returns within an ever-changing economic, political and social context.'

Ilse Ballast

Client Manager Fiduciary Advice, MN

'There must be opportunities for advancement.'

What makes working in the asset management/pension sector appealing to you?

'Our fiduciary service model is based on a close and trusted collaboration with our clients, with investment advice that strengthens their identity as a fund. In my role as client manager, I make sure - together with my colleagues - that our largest client PMT is continuously informed of all developments that are important for the management of their portfolio. We advise the pension fund on the strategic investment portfolio and other investment-related issues. Together with the pension fund, we always try to come up with innovative and sustainable solutions. In that context, the route to the new pension system is very important and challenging because it involves new material, on which a lot depends and which therefore attracts a lot of interest. Because of my responsibilities, I also have many internal contacts. This puts me right in the middle of the dynamics of asset management for one of the largest pension funds in the Netherlands. After more than eight years at MN, this still fascinates me every day. It is especially the variety of issues, from responsible investment to advice on specific investment categories, that makes my work so interesting.'

How can an employer be/remain attractive to young talent?

'New generations of professionals want a work environment that reflects the spirit of the times. There must be opportunities for advancement, people must be able to continue learning, and have their own responsibilities and autonomy. Employers must move with the times, for example by using AI and other new technologies.

A contemporary employment conditions policy, a diverse and inclusive culture, room for growth and development, and good secondary facilities such as flexible working from home arrangements: that is the standard today.'

Julian Plag

Analyst, EMEA Institutional Client Business, BlackRock

'The challenging environment is important to me.'

What impact has the tight labor market had on you?

'When I started at BlackRock in 2024, I had applied to many other companies. It was a challenging period because I regularly heard nothing back. A striking example was an international bank that only let me know eight months after my application that I hadn't gotten the job. This illustrated to me how difficult it can be to find a job.

Nowadays I see that friends and acquaintances, despite their bachelor's and master's degrees, have a lot of trouble finding a job or an internship. This emphasizes how competitive the labor market is and how important it is not only to have a good education, but also to gain relevant experience and network as much as possible.'

What makes working in the asset management sector appealing to you?

'The challenging environment, in which I can continuously learn and grow, is particularly important to me. In addition, the sector is constantly changing, with new developments and trends in the field of private markets and the pension transition, which require adaptability and innovative solutions. This keeps the work fascinating and varied.

In addition, I find it rewarding to see how the industry helps clients achieve their financial goals. The personal aspect of the work, where long-term relationships with clients are built, makes it extra special.

Finally, the asset management industry offers excellent career opportunities. There are many opportunities for professional growth and development, both within my current role and in other positions within BlackRock.'

Bibianne van Teylingen Bakker

Office Manager, AF Advisors

'Our generation prefers to work for something we enjoy and where we can make an impact.'

What makes working in the asset management sector appealing to you?

'A speech therapist in the asset management sector? That's not something you hear every day. My career began in speech therapy, but my passion for organizing and marketing brought me to AF Advisors. Here I discovered how versatile this sector actually is. As office manager and marketing manager, I learn from my colleagues every day and see how sustainable investments can make the world a little greener. That social aspect really energizes me. For me, working in this sector is about making an impact, continuing to learn and working with people who are enthusiastic about what they do. What also appeals to me is that almost no one here has the same background. Whether you come from a background in speech therapy, data analysis or engineering, if you can do something and you know how to do it, you are encouraged to apply your skills. This diversity makes the work even more fun and challenging.'

How can the asset management sector better respond to the tight labor market?

'I think that the image that many people have of the sector does not always tell the whole story. Sustainability and innovation are playing an increasingly important role, but these themes are often unknown to potential new colleagues. By collaborating with colleges and universities, offering traineeships and sharing personal stories, you can show how inspiring this sector is. It is also important that companies offer room for development and listen to ambitions. Our generation prefers to work for something we enjoy and where we can make an impact, in combination with a good work-life balance. That makes the sector more attractive to new talent and future-proof.'

Anne-Sophie Zoutendijk

Asset Manager, ABN AMRO MeesPierson

'The sector must raise its profile in places where young talent can be found.'

What makes working in the asset management sector appealing to you?

'Working in the asset management sector appeals to me because I can share my interest in financial topics with clients. It gives me satisfaction to help them and offer them financial peace of mind. The variation in client groups and the constant learning make my work dynamic and challenging, as the market is constantly changing. These changes give me the opportunity to develop myself and broaden my knowledge.

I also appreciate working with experienced colleagues from whom I can learn a lot. The mix of young and more experienced employees contributes to a good working atmosphere and offers diverse perspectives. This allows us to respond to different customer needs, such as helping young entrepreneurs with innovative ideas and retirees with questions about asset transfer.'

How can the asset management sector better respond to the tight labor market?

'To better respond to the tight labor market, the sector must raise its profile in places where young talent can be found, such as in schools and on social media. I have noticed that there is a lot of ignorance about what asset management actually entails. This often leads young people to choose more well-known financial professions, such as consultancy. During my internship I discovered that private banking and asset management are not as stuffy and old-fashioned as I had previously thought.

Max Wassenberg,

Quantitative Risk Consultant, Probability & Partners

'The phenomenon of job title inflation is becoming increasingly prominent.'

What is the impact of the tight labor market on the financial sector?

'The tight labor market is an ongoing concern in the Netherlands and is leaving its mark on almost all sectors, including financial services. Companies are finding it increasingly difficult to recruit and retain qualified personnel. Employees are now often approached by recruiters with more appealing job titles, making the phenomenon of job title inflation increasingly prominent. The tight labor market leads to higher wage costs, increasing workloads and challenges in realizing growth ambitions. At the same time, the demand for financial expertise is growing due to the complexity of regulations and technological innovations.

To better respond to these shortages, the financial sector can invest more in automation and digital solutions.

Technology can take over repetitive tasks and speed up other tasks, shifting the focus of employees to valuable and strategic activities. Think of advanced analysis tools or AI-based customer interactions. This also offers opportunities to reduce the workload and make the work more appealing.

Companies in the sector can also intensify their training programs and partnerships with educational institutions. By attracting and training talent at an early stage, they can ensure a continuous influx of qualified professionals. Flexible working conditions, such as hybrid working and targeted career development, are also essential to attract and retain talent.

The financial sector has the potential to act as a forerunner by cleverly combining technology, talent development and flexibility. This will not only address the shortage, but also lay the foundation for sustainable growth in a changing economy.'

Marente de Vries

Pension Plan Management Advisor, detached at Shell Pensioen Bureau Nederland

'Lifelong learning should be the order of the day in every organization, without bickering about study hours as office hours.'

What makes working in the pension sector appealing to you?

'I actually blundered into the Dutch pension sector (I needed a job). It was a great choice because the pension sector is incredibly dynamic and interdisciplinary. Pensions are political, social and personal. Although working people in the Netherlands rarely think about their pensions, the pension sector thinks about it for them. The basis for every pension fund is always the participant. Without participants there would be no pension fund, no political interest and – in my opinion – no stable society. This central role in our society intrigues me. It is fascinating to consider pension issues with colleagues who have extensive knowledge and expertise in the legal, communications, financial and actuarial fields.

The Wtp is shaking up the pension world, and I see the sector innovating. Not in the basics, but in the how. How can we make pensions more understandable? What can we do to make pensions more relatable? And how can we invest in such a way that everyone benefits? These are great questions to think about every day.'

How can an employer be/remain attractive to young talent?

'For me, the most important thing is good working conditions that are also focused on knowledge development. Lifelong learning should be the order of the day in every organization, without any fuss about counting study hours as office hours. Do you want to learn and grow? Great, let's make it happen! You know more and can do more, and so can we. With an employer like that, I am motivated to seize opportunities and enjoy going to work every day.'

Sarah Raymakers

Analyst, The New Amsterdam Group

'Success does not only depend on what is on your resume, but also on the relationships you build up over the years.'

What impact is the tight labor market having on you?

'When I look at my surroundings, I see that companies are becoming increasingly creative in attracting talent due to the tight labor market. Many companies now offer flexible working hours and opportunities to work remotely. The recruitment process also seems to be starting earlier and earlier. By organizing in-house days or networking events via community platforms for students, companies are appealing to a younger target group. In this way, they are trying to attract talent at an early stage of their career.'

How can an employer be/remain attractive to young talent?

'An employer who wants to be and remain attractive to young talent must not only offer financial benefits, but also invest in the corporate culture and the development of its employees. This can be done by offering initiatives such as mentoring programs, training or the opportunity to develop new skills. I also see how important it is to not only give young people opportunities to learn, but also to offer them responsibility and support them in building their network. Ultimately, success often depends not only on what is on your resume, but also on the relationships you build over the years.

In my opinion, employers who recognize this and invest in it can really set themselves apart. They show that they are not only thinking about the short term, but also about the personal growth and long-term success of their employees.'

Mark van Schagen

Senior Portfolio Manager, CZ

'Highly hierarchical organizations are more likely to scare off young talent.'

What makes working in the financial sector appealing to you?

'What fascinates me so much about working in the financial sector is the way in which global and social developments come together here. Whether it's about a new president in the US, technological revolutions or a new pension system, all these developments influence the capital markets, and vice versa. This interconnectedness not only creates challenges, but also opportunities to realize change. This really appeals to me.

In the financial sector, I have the opportunity to make a real difference by investing in sustainable projects, but above all by fulfilling my core task: making capital yield the best possible return. If I do my job well, I contribute to a lower health insurance premium at health insurer CZ and a higher pension at pension fund SBZ. An enormous responsibility, but also an enormously beautiful goal.'

How can an employer be/remain attractive to young talent?

'Young people want to make a difference now. That is why an open and flexible organizational culture is the starting point for employers to be attractive to young talent. Such a culture not only offers young people the space to be critical and vulnerable, but also to take responsibility and show initiative. Committed, experienced colleagues play a crucial role in sharing knowledge, challenging, but above all encouraging.

Very hierarchical organizations do not fit in with such a culture and are more likely to scare off young talent. In that respect, I think that as a sector we can still learn something from the culture at technology companies, especially now that large financial institutions are starting to resemble them more and more.'

Max Kanbier

Consultant, Zanders Group

'The financial sector can improve considerably by offering a better work-life balance.'

What impact is the tight labor market having on you?

'It is important to note that the shortage is mainly affecting specific sectors and at certain job levels. Within the financial sector, I feel this mainly at the step just above young professionals. For me, the impact of the shortage is therefore most noticeable in my daily work. Because the number of medior colleagues, with 2 to 5 years of experience, sometimes falls short of the intended numbers, companies place extra responsibilities on the juniors. This offers us as young professionals wonderful opportunities to learn and grow, provided we seize these opportunities and are up to the task.'

How can the financial sector better respond to the tight labor market?

'During my studies, at the office and while participating in seminars, I noticed that the sector often shows a one-sided reflection of society. There is very little diversity in gender, cultural upbringing or education. It is essential to change this image, preferably as early as possible. For example, by motivating girls to study economics or econometrics at secondary school, the sector will be able to attract a broader range of talent in the future. In addition, the financial sector can improve considerably by offering a better work-life balance. Overtime is unfortunately the norm in many institutions. Companies that provide a pleasant and flexible work environment, where there is room for fun and personal interaction, enjoy loyal employees who want to stay in the sector for longer.

Conclusion

It appears that the young professionals we asked about their impression of the labor shortage within the asset management and pension sector are not themselves experiencing a 'war for talent'. They do see that the shortage on the labor market is strongly felt in specialized positions and among the generation just above them. However, this is not perceived as negative. In fact, the juniors are given additional responsibilities, which offers them wonderful opportunities to learn and grow.

They are happy to accept this intellectual challenge. In any case, they feel at home in the asset management and pension sector. It gives them the opportunity to learn continuously, offers them a variety of different types of issues and introduces them to global and social developments. 'The sector is incredibly dynamic and interdisciplinary,' says one. 'The constant learning makes my work dynamic and challenging,' responds another.

Furthermore, the young professionals emphasize the social relevance of their work. They feel they have the opportunity to make a real difference, for example with sustainable investment, but also with regard to the new pension system. They feel a sense of responsibility and applaud the impact their work can have.

To be and remain attractive to young talent in the asset management and pension sector, young people feel it is essential that employers invest in knowledge development. They must offer room for development and listen to ambitions, but also create room for fun and personal interaction.

A good work-life balance is the standard these days. However, more is needed to get loyal employees who want to stay in the sector for longer. Training courses in particular are mentioned, as well as opportunities to develop new skills and collaborations with educational institutions. Our young professionals want to be able to continue learning.

Furthermore, employers must move with the times by investing in automation and digital solutions. This even seems to be able to achieve a holy trinity. By cleverly combining technology, talent development and flexibility, the financial sector has the potential to act as a forerunner.