It’s prime time for making a move, but recruiters say financial services job hopping is less evident than in previous years.

With most US investment banks announcing bonuses in December and January and paying in January and February, members of the banking fraternity who have pocketed a payout for the previous 12 months’ hard slog are usually keen to move at this time of year.

James Carss, director of banking and financial services at Hudson in Hong Kong, says moves typically occur mid-February, after the Chinese New Year (ie, now). And a recent poll of 347 Singaporean financiers by Ambition recruitment found 66% plan to look for new jobs once bonuses are paid.

So far, however, recruiters say the number of candidates flooding onto the market has been more of a manageable flow than an uncontrollable deluge.

Reduced and more realistic bonus expectations are likely to be a factor – leading fewer bankers to seek new jobs due to disgruntlement over low payouts.

"As the financial markets experienced probably the most difficult year in 2007 of the past five years, bonus expectations of candidates at the senior levels, especially within investment banking, were on the lower side of previous years," says Craig Brewer, manager for banking and finance operations at Robert Walters.

Brewer adds that candidates who received lower than average bonuses are being cautious when stating their reasons for leaving. In a difficult market, receipt of a low bonus can be a sign that a bank doesn’t value your contribution – hardly a great advertisement for a future employer.

The flow of candidates may yet pick up in the weeks to come as European banks’ bonuses hit employees’ bank accounts.

"There are still a few banks where bonuses have been announced but not paid out," says Michael Page International's Steve Parkes.