We've been suggesting for a while now that hiring on Wall Street was gathering momentum, raising hopes that the good 'ole days were almost back. Bloomberg reports that hiring activity is indeed heating up at several big companies.

New York City boasted 429,000 financial jobs as of the end of May, up 6,800 from the end of February. That compares with the peak of 473,800 in August 2007. eFinancialCareers says it has seen a 75 percent jump in investment banking jobs posted on its site compared with a year ago. Bank of America, JPMorgan Chase, Citigroup, Goldman Sachs and Morgan Stanley all boosted their total headcount in the first quarter, "the first three-month jump since the start of 2009." Headhunters are no doubt in a frenzy.

This maybe a good time to improve your position or jump back into the game. The passage of the historic financial reform bill will add a little more clarity to what banks will face over the next few years, which perhaps offers management the confidence to start hiring aggressively.

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