Although we're well into the first quarter, 2014 is still only beginning. January may be prime time for hiring, but in many industries, hiring is still continuing to ensure this year is a success. One particular industry that is making hiring a top priority is the financial services sector. For those seeking a career in the financial services industry or a change of pace from their current position, this is an excellent time to make the move.
Exploring hiring trends
According to its latest survey on hiring trends in the fields of finance and accounting, CareerBuilder (along with its finance microsite, MoneyJobs.com), found that 35 percent of the financial services hiring managers and HR personnel surveyed had active hiring plans in 2014. This constitutes an 8 percent increase from 2013, when only 27 percent of hiring managers surveyed were planning on increasing their head counts.
More remarkably, this figure is also 11 percentage points above the national average of businesses across all industries expecting to hire.
"As the market has recovered, funds are raising capital again," says Michael Cooke, Partner and Executive Vice President of The Execu|Search Group. "That, combined with the more stringent regulatory environment, is forcing the alternative investment marketplace (including Fund Administration) to continue to build up their back office infrastructure. New funds are launching, and their growth has led them to institutionalize their back office sooner than expected, and older, more established funds have been very successful in taking on capital as well. As a result of these combined factors, more professionals are being hired in the accounting, operational, and compliance areas."
Optimal financial positions
The list of positions cited as having the most growth potential in 2014 included credit and financial analysts, accountants, and financial examiners such as auditing professionals. Hiring growth for credit analysts and financial analysts will be highest, at 9 and 7 percent respectively, with 4,973 credit analyst jobs and 16,956 financial analyst jobs added to the economy from 2010 to 2013.
In fact, accountants and auditors were named some of the hottest jobs of 2014 by Salary.com in January. Specifically in the business and financial services industries, the positions as a group were projected to enjoy a total of 17% growth this year. As a result, those looking to land a job in any of the above occupations should enjoy a degree of flexibility when looking for a new position.
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