Depending on how you look at it, the future looks bright for finance professionals. Why's that? Well, there is an increasing sentiment of job security from those with a finance degree, but there have been high-profile staff cuts at big banks. So, who does the future look bright for? The future looks bright for new grads or those that are early in their careers.Job Security
In a recent survey by the Financial Times, four out of five respondents said they feel confident about their prospects for finding a job in finance. Furthermore, recent graduates working in finance report higher job security than their peers who are employed in other fields.
Among the respondents working in finance for three years or more (80%), 83% report that they feel secure or very secure in their jobs. How does this compare to other sectors? This figure is significantly higher than the 67% of respondents in other sectors reporting feeling secure in their jobs.
The sentiment of solid job security could be in part due to the companies graduates choose to work for. According to Fiona Sandford, executive director of careers and global business at London Business School, "more graduates...are interested in roles are larger companies, where a well-trodden career path is often more clear."
Good news: In a recent study by CareerBuilder, the financial services industry is the top industry planning to hire, with 52% of respondents planning on hiring permanent full-time employees. And according to the Bureau of Labor and Statistics, from 2010 to 2020 the majority of finance and accounting positions are expected to grow faster or as fast as average for all occupations.
Personal Financial Advisors - 32% expected growth, much faster than average
Financial Analysts -26% expected growth, faster than average
Accountants and auditors - expected growth of 16%, about as fast as average
Financial clerks - expected 11% growth, about as fast as average
Are you looking to hire finance talent? How about looking for a finance job? Here at Advanced, we offer staffing solutions for finance and accounting at a variety of levels, including controller, treasury, clerk, accounting, and risk and compliance. Contact us to discuss your finance staffing needs!