Demand for money-related jobs is picking up quickly, according to a new survey from CareerBuilder and the related moneyjobs.com, which reports that 35 percent of employers in the financial services sector will be adding positions in 2014. In fact, Kevin Knapp, chief financial officer for Career Builder, says the financial services sector is enjoying a growth rate above that of other occupations.
That’s good news for job seekers, especially given that CareerBuilder also found that one in five people working in the financial services field plan to switch jobs this year. The growth, Knapp says, is a direct result of the stock market improvement and monthly job creation, which has improved since the height of the Great Recession.
Knapp says another factor is at play, too. Financial professionals help companies stay on top of their own finances, which is a top priority in the wake of the recession. “We sense that both American households and businesses are more conscientious than ever about their bottom lines, and are consequently looking to skilled professionals to achieve their respective financial goals. The list of the fastest-growing occupations in this sector, including personal financial advisors and financial analysts, reflects that demand,” he says.
Knapp recommends that those looking for jobs in the financial services sector “proactively reach out to companies they would most like to work for,” in addition to keeping track of online job listings. “Today’s best-run companies recruit year-round in anticipation of future needs and set up talent networks in which interested candidates can submit their résumés for consideration for upcoming opportunities. This tactic is overlooked by many job seekers but is becoming an increasingly important way companies connect with motivated talent,” he notes.
Even mid-career professionals can take advantage of these opportunities, he adds. “Many employees in non-financial roles are exposed to finance-related tasks during their day-to-day work and develop basic financial skills,” Knapp says. Supplementing with additional training or certifications can help them turn that experience into a new job.
The CareerBuilder and moneyjobs.com website reports that these seven financial services jobs will grow particularly fast in the coming year:
1. Credit analysts, who earn a median hourly rate of almost $30, added almost 5,000 jobs over the last three years and will continue to enjoy above-average job growth in 2014.
2. The number of financial analysts, who bring home a median hourly rate of $36.82, grew 7 percent over the last three years.
3. Actuaries, who analyze financial risk, earn a median rate of $45 an hour and experienced a job growth rate of 6 percent between 2010 and 2013.
4. Personal finance advisors earn a median hourly rate of just over $32 and experienced 6 percent job growth over the last three years.
5. Credit counselors earn almost $19 an hour, and the number of positions grew by 5 percent between 2010 and 2013.
6. Financial examiners, which make sure companies and other entities obey the requirements and laws related to financial management, earn a median hourly rate of $36.44. The field grew by 5 percent between 2010 and 2013.
7. Accountants and auditors, who work on maintaining proper financial records, bring home $30 an hour. The field grew by 5 percent over the last three years.
For more on the best business jobs, visit the U.S. News Best Business jobs list, which includes market research analyst, accountant and financial advisor.