Role Troll Finance Jobs

adam greish

roleroll

roleroll


If recent layoffs and pay cuts on Wall Street have you worried, a former Wall Street startup could help you stay ahead of the game.

Launched in June, Roletroll is a job-matching platform that matches your resume and interests with relevant job postings. Founder and former Wall Street quant Adam Grealish created the algorithm after the 2008 financial crisis put him out of work.

Months of manually searching for job openings got Grealish nowhere, so he decided to create a matching algorithm to find jobs that suited him. The project ended up landing him a job at Goldman Sachs in the summer of 2010.

The algo turned into a side project, but ultimately market conditions made it too good a project not to take on full-time. The need for matching algorithms was creating new opportunities in technology, while increased regulation was beginning to limit big banks” returns to Wall Street.

“Overall, the labor market was strengthening, we were coming out of eight percent unemployment. It was like businesses were starting to thaw in general,” Grealish said. “Having said that, in the banking sector in particular, the outlook was a bit bleak.”

Grealish was reluctant to leave Wall Street, but he says opportunities at the time pointed to Roletroll. LinkedIn was gaining traction and actually bought Role Troll competitor Bright.com earlier this year for $120 million. British competitor Jobandtalent has announced plans to move to the United States by early 2014.

Grealish likes to describe Roletroll as a “set and forget” solution, so users can passively keep tabs on the job market. Role Troll can also provide a handy point of reference when negotiating salaries. A Bank of America trader told Grealish that he uses it to uncover all the jobs in his space.

After uploading your CV, Roletroll sends you job offers based on your skills. It learns from the jobs you love and adapts to your preferences. You can also enter keywords and interests if you want to change careers.

After a while, Grealish noticed that Roletroll wasn’t just helping people find jobs, it was telling them things about the job market as a whole.

Roletroll data supporting dark reports that work in finance are very hard to come by right now. Over the past year, funding lists have decreased by 15%. Meanwhile, tech jobs are on the rise.

Role Trolls Chart

Financial quotes are down 15% year-on-year, while technology quotes are up 7%.

Troll role


Data from Role Troll also shows a shift in finance positions to San Francisco.

Role Troll Table 2

San Francisco adds more financial listings than other major cities, including New York.

Troll role


In August 2010, Grealish could see via his algorithm that the market was rising, coming out of the crisis. But after about three months, it went from a string of good games to next to nothing.

“Having solid data to back up what you hear and the rumors on the street is extremely valuable, especially for anyone in finance, [who have] somehow a quantitative or data-driven shift,” Grealish said. “Secondly, for users, it provides a unique insight, as the implications can be very different. Although there are age-old trends, offices hire from time to time because they need new people. It gives you a hyper-personalized view of the job market, which ultimately is all you really care about.”

For example, data from Roletroll shows that fixed income jobs are down 10%, but developer and quantifier jobs are outpacing the traditional trading role within the industry.

Role Troll Table 3

Development/quantity positions have increased by 5% this year, while trading positions have decreased by 23%.

Troll role


So far, the bootstrapped startup is reporting over five million individual job matches and over hundreds of thousands of individual matches. Grealish plans to monetize by offering a premium service for job seekers and advertising positions for paying companies.

So worse comes to worse, at least you can keep your options open. And know exactly when they are decreasing.

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