With more baby boomers retiring in 2015 and 2016, there will be a substantial gap to be filled in financial department positions. The bureau of Labor Statistics estimates over 50,000 analyst and advisor jobs will be available between now and 2016. Here’s what you need to know.
Most popular locations across the U.S. If you take into account demographics, quality of life, salary and cost of living, a few cities take top honors as the most popular areas for hiring analysts and advisors. If you’re looking for a job, PrideStaff Financial wants you to be aware of these financial leaders.
- New York City- it’s no surprise that NYC takes one of the top spots in the country for recruiting in finance. With an estimated average salary of $116,000, there is much to like about living in one of the most vibrant cities in the nation. However, city living does get expensive and you may have a hefty commute, so you need to plan ahead when preparing to work in this area.
- Portland, Oregon- ranking in the top 5 has an average salary of $107,000. Portland is slowly becoming a financial Mecca, producing more financial jobs than most other cities.
- With its rich history and improved cost of living, Houston, Texas takes the next spot. An average salary of $93,000, you can live comfortably in this financial hub. As the housing market improves, so too has Houston’s draw for financial jobs.
- At $89,000 a year, San Diego, California has become increasingly competitive when it comes to financial job growth. Ranked in the top 15 for in demand jobs, San Diego has hired or created thousands of advisor and analyst jobs in the last two years.
“Trending” skill sets for analyst/advisor positions.
Financial careers have evolved into much more than the number crunching, paper trail accountants. With consultant positions, payroll advisors and IT wizards being hired in droves, the financial sector has learned to adapt to its environment. Advisors and analysts are being asked to do much more than understand Microsoft office and excel. According to Wanted Analytics, these positions require understanding and keen knowledge of modeling, forecast analysis, business development, variance analysis, risk management, and PowerPoint. Among these, Risk Management has become increasingly important. With healthcare and fraud departments increasing in companies, so has the increased demand for understanding risk and risk management planning.
Plan for the future.
With such high demand for future positions in analytics and financial advising, it is important to plan ahead for career success. Analysts can work in junior or high level capacities and this niche often opens many other career doors. If you want to position yourself for the best possible opportunities then plan ahead and set your goals now. For undergraduates looking into this field, computer science, economics and business are all favorable for junior level positions. For senior level positions, it is wise to obtain an MBA. Most highly sought after analysts and advisors have taken this step. Additionally, you can take the series 7 or 63 exams to show your competency in analytics, accounting practice and investment terminology.
Where can advisors work?
When considering a job in advising or as an analyst, make sure to look closely at where these jobs are hired. Both advisors and analysts primarily work for banks, insurance carriers, commododies brokers, and investment firms. However, with recent legislative changes to healthcare law, more hospitals and phsycian practices are now hiring these positions as well.
In a market steady with opportunity and growth, you need to be aware of current trends and future demand. PrideStaff Financial has highly qualified recruiters ready to assist you in your future planning. Contact us to learn how we can help you find your next job in financial advisoring or analytics.