Latest Blogs
INDIRECT TAX MARKET SURVEY – have you completed the questionnaire yet?
It’s that time of year when BLT gather data for our Indirect Tax Market Report and Salary Survey, that’s due for publication at the beginning of 2018. Always an interesting read, the report will include information on global Indirect Tax recruitment trends in the last year, information about sector differentials, data on gender diversity, working patterns as well as salary bandings and benefits information.
The report is only as accurate as the data we receive, so for that we need your help!
To ensure you receive your copy on publication, do take a moment to complete the short survey at the following link. All information received will of course be treated in the strictest confidence, and will be used purely for the purpose of compiling the data for the survey.
Of course the more responses we get, the more comprehensive and accurate the report will be – so a huge thank you in advance for everyone’s input.
You can find the link to the survey here.
Best regards
BLT’s Indirect Tax Team
BLT: Indirect Tax Partner/Director Recruitment
Well what an unusual couple of years it’s been. The Brexit referendum, Trump, economic uncertainties, and often terrifying news here in the UK and abroad – all have been causing havoc with making predictions for the future. Invariably, the first question that we get asked at BLT is ‘What’s been the impact on the Indirect Tax job market?’ – and its not been a simple question to answer.
Certainly, some areas of the market have been affected by the ups and down of the last couple of years: the numbers of junior VAT hires taking place, the regularity of Indirect Tax contracts, in-house roles on mainland Europe/Switzerland all spring to mind as examples.
Conversely however, it’s been a very different story at the more senior end of the spectrum. A large number of professional services firms have been busy positioning themselves for the future, by investing in (and securing) top Indirect Tax talent at often very senior levels. Did you know that we at BLT have effected more Partner and Director Indirect Tax hires in the last two years than ever before?
Some examples of BLT placements since 2015:
- VAT Partner, Top 10 firm, London
- VAT Partner, Compliance/Technology, Big 4 firm, London
- National Customs Partner, Top 10 firm
- VAT Partner, Southern Region, Top 10 firm
- VAT Partner, Dubai, Top 10 firm
- VAT Partner, GCC region, Top 10 firm
- VAT Director, M&A, Big 4 firm London
- VAT Director, Technology, Big 4 firm London
We’d go so far as to say that there haven’t been many Indirect Tax appointments at this level in the professional services firms that have taken place without our involvement.
We’re confident that our clients and those we have helped move have gained great value from the BLT experience, and from a personal perspective, we’ve found working on such hires a hugely enjoyable and professionally rewarding experience – we’d love this trend to continue into 2018 and beyond.
So if you’re an existing Indirect Tax Partner or Director thinking about your future career direction, or just simply want a sounding board, do get in touch so we can show you what we’re made of.
To discuss hiring senior talent, the number to call is + 44 (0) 207 405 3404 and speak to Guy Barrand or Emma Wade (email vat@blt.co.uk)
Management Consultant → Search Consultant: A well-trodden path – by Tariq Siraj
A broker, consultant, strategist and relationship manager walks into a bar. She takes a seat, orders a drink and chats away to the barman. Actually scrap that, it’s not a bar it’s the HQ of a Fortune 500 firm, the drink is a glass of water and the barman is the COO. It’s not a joke – it’s a true story.
Where am I going with this? Well the first obvious point is that the broker, consultant, strategist and business developer are all one person. The second point is that there’s clearly a very successful business developer hiding amongst that skill set too.
The big question is, what does she do? The truth is I don’t know. She could be a management consultant, she could work at a high end insurance broking house, she could be moving up the chain at a private equity firm, or she could be a headhunter/search consultant.
The parallels and strong links between management consulting and search are long-standing and very clear; the skills are eminently transferrable and there is fundamental requirement to be able to contribute on many levels:
Both are polymaths – even if what they know about many areas is on a superficial level, both are commercially minded, both identify opportunities, develop new business, diagnose problems, deliver what is promised, build sustainable relationships, and develop strategic plans for the road ahead.
Both must have that natural gift for talking and yet must be a world-class listener. Both must become a trusted sounding board, councillor, advisor and partner. Optimist and pessimist, yes-man and naysayer.
Moving from management consulting into search – and vice versa – is a well-trodden path. There are many search firms set up by ex-consultants, Directors or Partners of the Big 4 and major strat houses.
The ex McKinsey consultant who set up one such example in Singapore is clear about his motivations:
“When I worked at McKinsey my colleagues complained that the recruiters who rung them didn’t know the consultancy market. They’d ask the wrong questions – often about PowerPoint and Excel skills. I thought I could help consultants peruse their career ambitions”
He spotted an opportunity, but he also spotted the clear transfer of skills.
The ‘recruiter who doesn’t know the market’ is unfortunately an ever-present blight on the search industry. Unless it is an established and successful player in the market – at BLT we are in our 30th year and were pioneers of the UK management consulting recruitment sector – then there is clearly a need for more expertise and validity in this space – and huge amounts of money to be made.
And remember; even if you don’t know it yet, you already know how to do the job.
- Tariq Siraj
Is it worth paying over the odds for a special talent or a special brand? by Tariq Siraj
Even for non-football fans I’m sure the transfer of Brazilian football star Neymar from Barcelona to PSG in Paris caught your attention. It’s intriguing for lots of reasons, not least because the transfer fee of €222 million (£200 million, $265 million) is more than double the previous world record and at first glance completely ridiculous.
But it got me thinking; is it sometimes worth paying seemingly over the odds for a special talent?
Neymar clearly qualifies as such – he is by most expert’s view one of the best players in the world. PSG’s Qatari owners clearly agree and clearly think the investment is a sound one.
In respect to other transfer deals it seems crazy but in itself it may not be a bad piece of business.
Neymar’s commercial potential is huge; a good looking, likeable, media savvy young player with a ready-made set of fans across the world. It’s not just the transfer numbers which are staggering; he has over 32 million followers on Twitter and 81 million on Instagram.
He will sell an unbelievable amount of shirts, he will attract incredible levels of sponsorship to the club and create a buzz which should open up a legion of new fans for PSG in far flung places of the world and also attract even more footballing talent for the team going forward.
It seems these factors are just as important today as the football itself.
On that front, let’s not forget he is already a special talent who will thrive even further in a team where he is the star attraction with the prized number 10 shirt (something he would never be able to do at Barcelona while Lionel Messi can still walk).
All these factors combined suggest it may prove to be an interesting piece of business for PSG.
It also got me thinking of parallel situations in management consulting (I know, I know).
We see example after example of organisations paying ‘over the odds’ for individuals because they know exactly what PSG’s owners know about Neymar; that there is far more to some people than can be easily quantified in hard currency. The extra value a star Director or Partner may bring to a consulting outfit can be astronomical; new business, repeat business, improved culture, better managed practices, improved morale, unquantifiable contributions to the brand through speaking engagements, relationships built, written work, size of network…and the list goes on. Much like in football these days, there is so much more to consider than simply ‘how well will this person do their job?’
Sports teams have long brought in players from certain parts of the world precisely to open up commercial markets and fan bases in new geographies, with seemingly no consideration of sporting talent at all. Consulting firms have equally followed similar practices for many years; the right ‘face’ or the right language can connect a practice to a new part of the world.
Neymar’s case is clearly a special one as the numbers go beyond anything previously seen and this is a marriage of both talent and brand. The key question is whether this will set a precedent for ever-more big and bold moves.
What can we learn from Romelu Lukaku’s decision to join Manchester United instead of Chelsea?
The new Premier League season starts tonight with much to look forward to in the months ahead – if you haven’t joined the BLT Fantasy Football League there’s still time (League name: BLT Fantasy Football League
League code: 1520352-384577). After a flurry of transfer activity over the summer, one move in particular caught my attention – the transfer of Romelu Lukaku from Everton to Manchester United. It was widely expected that he would return to Chelsea, but Manchester United hijacked the move and snapped him up. Maybe the prospect of returning to the club who had sold him to Everton just didn’t appeal to Lukaku, or maybe he enjoyed living in the North West and wanted to stay there …… or maybe there was another reason.
Of course, we can’t believe all we read in the papers, but if press reports are correct, he chose Manchester United because they wanted him more. Apparently, he had one phone call from Antonio Conte while Jose kept in regular contact over the summer, presenting three different contract offers. The message was clear from Manchester United – we really want you to join!
Whether you’re a Premier League footballer, a junior analyst in the early stages of your career in management consultancy or a Director with a wealth of experience, choosing between two (or sometimes more) job offers can be daunting. There may be many items on your Wish List ranging from the obvious – the brand, the role, location, the type of work on offer, salary, future prospects – to the more subtle. When it comes to making the big decision people often base this on some of the softer factors – the people they have met, a feeling of belonging and as in Lukaku’s case ……..a feeling of being wanted. And often, it’s absolutely that feeling of being wanted which sways a final decision of which option to choose.
So if like Lukaku you’re starting a new job this autumn, good luck in your new role! If the summer holidays have got you thinking about making a move or if you’re looking to strengthen your team with a new hire, we’d be happy to help here at BLT.
- Catriona Cookson
