There have been recent reports that many of Wall Street's biggest banks and investment companies will be cutting jobs in the coming months. Even though the BLS reported job gains in the financial services sector during September, the banking industry still faces tough times. We wanted to see what recent demand has been like in New York's financial services sector. Are banks still hiring and what are they looking for?
As it turns out, hiring in the first part of the year was looking strong. The number of available job ads being posted online grew each month until May. Since then, demand in the financial services sector in New York City began to decline. In September, there were a total of 13,000 jobs available online, a 2% decline from the same time last year.
Hiring Demand on Wall Street – 4 Year Trend in the Financial Services Sector in New York City
You would probably expect a lot of finance related jobs to be the most in-demand in this area and they are dominant in the below list of most advertised occupations last month. However, marketing, technology, and administrative or support functions are also highly advertised. Of these occupations, Insurance Sales Agents grew the most – up 60% in September 2012 compared to September 2011.
- Financial Managers, Branch or Department
- Sales Agents, Financial Servives
- Load Officers
- Insurance Sales Agents
- Financial Analysts
- Marketing Managers
- Management Analysts
- Computer Systems Analysts
- Customer Service Representatives
We also looked at the types of tools, technologies, and skills that are most commonly required in financial services jobs located in New York. Many of these are not surprising. However, we noticed that there are 2 technology skills – Java and SQL. These appear before other more common financial related skills, like portfolio management or financial planning.
- Risk Management
- Project Management
- Microsoft PowerPoint
- Microsoft Office
- Time management
- Sales experience
- Product development/management
- Oracle Java
- Structured query language (SQL)
- Self starting
Find out how hiring in the financial services sector of your city compares to Wall Street with the Hiring Scale. Tell us where the position is located and what specific job or skills you are recruiting for and we'll show you how hard-to-fill that position is, average salary information, and who you are competing with for talent.
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