Put your money on growth in finance work
By Susan Ricker
A recovering economy doesn't mean that all areas of hiring are slow. In fact, hiring in financial services occupations is likely to pick up in 2014, according to a new survey from CareerBuilder and MoneyJobs.com -- CareerBuilder's job site for finance and accounting professionals.
As businesses continue to regrow and establish more savvy ways to operate, they require smart financial minds to bring their business back. From financial analysts to accountants to credit counselors, there are a variety of ways that finances need to be monitored and moved, and workers are needed to fill these roles.
Hiring is up in financial services
Financial services occupations are needed by all industries for their expertise in budgets, finances and spending. And there's high demand for their help. In a nationwide survey of financial services hiring managers and human resources professionals, 35 percent of financial services employers are increasing full-time headcount this year compared to 2013 -- 11 points above the national average and up from 27 percent in 2013.
"Job growth in financial services is expected to outpace job growth for all occupations in 2014," says Kevin Knapp, chief financial officer for CareerBuilder. "This is good news for job seekers in the sector, whose skills will be in-demand across a range of businesses and occupations that typically offer highly-competitive wages."
Top financial services jobs for 2014
The following list of financial services occupations each grew at least 5 percent from 2010-2013 and are projected to grow faster than average growth for all jobs in 2014.*
Total employment in 2013: 63,449
Added 4,973 jobs from 2010-2013, up 9 percent
Median hourly earnings: $29.36
Find a job as a credit analyst.
Total employment in 2013: 257,055
Added 16,956 jobs from 2010-2013, up 7 percent
Median hourly earnings: $36.82
Find a job as a financial analyst.
Total employment in 2013: 22,586
Added 1,369 jobs from 2010-2013, up 6 percent
Median hourly earnings: $45.04
Find a job as a actuary.
Total employment in 2013: 227,974
Added 12,417 jobs from 2010-2013, up 6 percent
Median hourly earnings: $32.11
Find a job as a personal financial adviser.
Total employment in 2013: 28,579
Added 1,521 jobs from 2010-2013, up 5 percent
Median hourly earnings: $18.96
Find a job as a credit counselor.
Total employment in 2013: 30,117
Added 1,568 jobs from 2010-2013, up 5 percent
Median hourly earnings: $36.44
Find a job as a financial examiner.
Total employment in 2013: 1,311,816
Added 67,614 jobs from 2010-2013, up 5 percent
Median hourly earnings: $30.21
How to join the field
If you're considering joining the financial services industry, or are angling for a new position, it's good to know the field's standards. According to the Bureau of Labor Statistics, most finance jobs typically require a bachelor's degree in a finance-related subject, such as accounting, finance or economics.
Many workers also have certifications or licenses from industry-specific authorities, such as the Financial Industry Regulatory Authority, the main licensing organization for the securities industry. It requires licenses for many financial analyst positions. According to the BLS, "Most of the licenses require sponsorship by an employer, so companies do not expect individuals to have these licenses before starting a job."
For instance, for financial analysts, the BLS says, "Certification is often recommended by employers and can improve the chances for advancement. An example is the Chartered Financial Analyst certification from the CFA Institute, which financial analysts can get if they have a bachelor's degree, four years of experience and pass three exams. Financial analysts can also become certified in their field of specialty."