Why Financial Services Technology Firms Struggle to Hire AI Talent in France

For firms in the financial services technology sector, moving to or opening a branch in France is harder than you imagine. Unless, of course, you understand the deep nuances of the French developer and engineer market. 

We sat down with Anna Blyth, our Principal Consultant in Quantitative and Software, to discuss what makes the French market so unique. 

Why are firms in the financial services tech sector struggling to hire French talent? 

“There are two main reasons, the first being that, believe it or not, most recruiters operating in the French market don’t speak French. Although most candidates will speak English well, approaching them in their own language is a huge advantage. Some will literally reject approaches from even very prestigious recruitment firms because they don’t speak French. 

“Because I was raised in France and speak French fluently, this automatically broadens my access to the best talent. It’s this kind of specialist approach that makes Selby Jennings so effective. 

“The second challenge is cultural. French candidates with the AI and ML experience you need will often come from outside the finance sector and there’s a certain level of reluctance to even consider roles in this area. Their skills are transferable so it’s nothing to do with ability, it’s more to do with certain assumptions about what the finance industry represents. 

“If a candidate has been working at a high level in the tech industry and then is approached about a role at a hedge fund, there’s a chance they’ll conjure up an image of The Wolf of Wall Street. To those already inside the industry, this may sound silly, but unfortunately this is a real phenomena. 

“This is why I’ve heard other recruitment firms, with an outstanding role at a hedge fund, can contact a prime candidate and struggle to even get past the pleasantries.” 

What is the solution to getting candidates to consider roles in financial technology?  

“It’s absolutely possible. It just needs a carefully considered approach. 

“First of all, I speak to these candidates in French. That immediately gets you over the trust hurdle and gives you the space to have a proper conversation. That way, even if there is some suspicion of the financial industry, you have the opportunity to reassure them and promote the benefits of the specific company offering the role. The team, the dynamics, the different things that make the firm a great place, all of these things matter to the candidates.  

“Once you can get the candidate to consider this properly, a lot of the objections disappear. I’ve literally had candidates who outright rejected a direct approach from the firm, but were willing to speak to me instead, and eventually took the role. 

“If you’re hiring for anything related to AI and ML I would recommend using a recruiter who is fluent in French. They can communicate with the candidates more comfortably and correct any misconceptions they might have about the firm. 

“The other important element to consider is the “soft” elements of the role. French workers value work-life balance, and taking regular family vacations and leaving work a little early to collect their kids from school is normal. These can often be dealbreakers to candidates, so if you can offer a work culture that supports this mindset, this goes a very long way.  

“Keep in mind that the strongest AI and ML candidates are rarely looking for work, so employers need to “sell” all the positive elements of the role.” 

What other unique elements of the French talent pool do employers need to be aware of?

“The candidate pool is much smaller than what you may be accustomed to. Compared to the UK, for instance, the number of hedge funds and financial institutions is much lower which means you’re often going to be looking for engineers outside of the industry. The quality of candidates is there but expect to be interviewing people who may not have specific experience in finance. 

“Hedge fund experience is even rarer. There just aren’t enough of these companies in France right now to provide anything other than a very limited talent pool. 

“On the one hand, this might mean you have to dig a little deeper and pay a little more for hedge fund experience. But on the flipside, there is less competition overall for these candidates.” 

How can firms hiring for French ML and AI talent gain a competitive advantage?

“I know it’s expected but use a recruiter. Even if you have someone in house who is fluent in French, some candidates just won’t engage because they’re nervous about moving into the financial sector. The name of your firm alone may, unfortunately, put up a barrier. 

“Selby Jennings tackles this problem head-on with talent specialists, such as me, not just in the industry but also in the region. This is why I can engage with candidates and get them to a point where they’re ready to listen to what I have to offer. I also offer coaching to candidates to help them demonstrate the technical skills they have.” 

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