Professionals in financial services and accounting are more confident than ever regarding potential growth in the industry in the coming years. This means that now is one of the most ideal times for hopeful candidates to start their job search in the industry.
Confidence is high among both lower-level employees and decision-making chief financial officers alike, revealing the wealth of opportunities available for interested professionals. According to the Bureau of Labor Statistics, financial employment jumped by 15,000 jobs in July, the most recent month for which data was available. On the year, this segment has added a total of 120,000 positions.
Additionally, around 61 percent of CFOs in the financial services industry reported they plan to make hires in the next six months, according to Accounting Today, with a 3.5 percent increase in employee compensation expected over the next year. Job security is also high in the sector – only 28 percent of CFOs reduced their workforce at all in the past year.
"Our Accounting/Finance division has observed a 38% uptick in demand for job orders from clients year over year, which means the demand for qualified candidates is that much greater," explains Gary Grossman, Partner and President of The Execu|Search Group's Accounting/Finance recruiting division. "We haven't seen a trend like this since 2008, and as the economy continues to grow stronger in the metropolitan area, the demand for candidates will also continue to rise, and higher compensation will follow."
With such high optimism and reports of hiring increases, now may be the ideal time for any prospective candidate in either financial services or accounting to find a more desirable role. Only 15 percent of current workers lack confidence in finding a new job, while more than 30 percent believe more jobs are available as a whole in the industry – and those numbers have rapidly risen in recent months. As a result, contacting financial recruiters may lead to major dividends – when so many positions are increasingly becoming available, meeting with employment experts can help land a qualified candidate with a worthwhile, fulfilling and competitive position.
Hiring will be the highest for mid-career professionals, entry-level college graduates and skilled technical workers, which is further good news for job seekers – it means the industry as a whole intends to expand. As growth does not appear to show signs of slowing down in the near future, candidates looking to improve their resumes have nothing to lose from gaining additional certification in their fields. Whether they work toward their CPAs, specialized skills or even their Master's degrees, the current opportunities in the field mean any moves they make will likely be very positive.
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