While international financial markets may be struggling, jobs on Wall Street have been fairly steady. In June, more than 14,000 jobs in New York's financial services industry were posted online. Although it is a slight decline from May's 4-year record high, this still represents a 1.2% increase over hiring demand during June of 2011. We thought it might be interesting to look at 3 things that Recruiters and hiring managers should know about recruiting on Wall Street.
Think traders are in demand?
Contrary to what you may think about Wall Street, brokers, traders, and financial analysts are not the most commonly advertised jobs. Instead, the most commonly advertised job title in the financial services industry in New York is Tellers. Personal Banker and Sales Service Specialists were second and third. With Commercial Banking accounting for about 42% of all jobs on Wall Street, it's not too surprising that most of the jobs are for banking careers.
Here are the top 5 job titles being advertised on Wall Street:
- Personal Banker
- Sales Service Specialist
- Teller I
- Branch Manager
New York may have the highest demand for financial services jobs, but they are still easier than average to fill.
You probably aren't surprised to hear that employers in New York have the highest demand for jobs in the financial services industry. More than 14,000 job ads were posted online in this sector during June 2012. This is almost twice the volume seen by Chicago, which had the second highest demand for this industry. However, Recruiters are actually likely to find jobs on Wall Street easier to fill that on average across the US. When considering the available talent supply, our Hiring Scale™ and candidate supply data shows that New York has a large pool to source from. It's estimated that over 550,000 people work in the financial services sector in the New York metro area. This means that Recruiters will likely have a large number of candidates to source from.
Hiring Scale for Financial Services Jobs on Wall Street
Find the best places to source talent – locally and nationally
Although jobs are easier to fill in New York than on average, the difficulty of each position will vary slightly depending on the skills needed and the number of potential candidates in the local workforce that meet those requirements. If you are struggling to fill a job on Wall Street (or a finance job anywhere in the US), our Hiring Scale can show you the locations with the best conditions for finding that talent – both locally and nationally. In these areas, there is less hiring demand by employers and larger talent pools, meaning there is less competition to attract candidates and Recruiters are likely to find candidates more easily.
Near New York City, the best locations to find candidates in the financial services industry are:
- Utica-Rome, NY
- Elmira, NY
- Glens Falls, NY
- Rochester, NY
- Dover, DE
Across the US, the best locations for sourcing candidates in the financial services industry are:
- Morgantown, WV
- Dalton, GA
- Spartanburg, SC
- Wheeling, WV
- Port St. Lucie-Fort Pierce, FL
Want to see how recruiting in your city compares to New York? Check out our online Hiring Scale! Just tell us where the job is located and what position or skills you are sourcing for, and we'll show you a Hiring Scale, average salary ranges, and who you are competing with for talent.
Already an Analytics user? Log in and search for the "Finance and Insurance" industry in your city to see hiring trends and competitive information.
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July 16, 2012 - wall-street-stocks.com
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