What will job prospects look like for financial sector candidates in 2015? What will the hiring landscape look like for employers during the year ahead? If you’re a student about to embark on specific course of study and consequent career path, will the financial field offer everything you’re looking for as you approach graduation? And as they face this wave of new graduates, will hiring managers have to compete and plan ahead if they hope to attract top talent?
In brief summary, the numbers look promising for candidates and managers on both sides of the table. Hiring will rise at a fairly rapid rate as companies take on new staff to address increasing regulations, and investor bases are expected to rise as the economy recovers, which means more consumers will be searching for financial advisory services. Products are diversifying, investor options are becoming more complex, and emerging overseas markets will play a central role in both large and small scale investment decisions. All of these suggest growth for the industry.
Prospects for candidates also look positive. Between 2012 and 2022, the Bureau of Labor Statistics predicts a 16 percent rise in employment demand, which is slightly higher than average and compares well with the 11 percent growth expected across all industries.
Median salaries for financial analysts and financial service providers, including both business and personal investment advisory services, will hover between 75,000 and 80,000 annually. The top ten percent and the bottom ten percent of pay grades across the industry will vary widely, so candidates will need to engage in a strategic negotiation process to earn the base salaries and benefits warranted by their education, experience and skills.
Even though the hiring landscape will benefit financial candidates, employers will still hold an edge in the employment marketplace, since the number of candidates entering the field will be high and competition for available jobs is expected to be tight.
For more information on the state of the financial hiring and employment marketplace, make an appointment with the MA staffing and job search experts at Tech Needs.