In the last few months of 2012, Wall Street went through a hiring slowdown. Many large financial organizations announced plans for layoffs. A year later, we wanted to review hiring demand for the financial industry in New York and see if jobs are returning. As it turns out, hiring in October 2013 was up 16% compared to October of 2012. At this time last year, demand had already started to fall in New York's financial sector as companies were announcing restructuring plans. However, in April of 2013, demand started to grow again and has been maintaining this positive growth. In October 2013, there were about 20,000 jobs available online in New York City's financial sector. Within finance, commercial banking had the most jobs available last month. This one industry accounted for over 30% of financial hiring.
Hiring Demand on Wall Street – 4 Year Hiring Trend
Below are the 10 occupations that were most commonly advertised on Wall Street last month. Not surprisingly, most of these are financial occupations. However, Management Analysts, Marketing Managers, Software Developers, and Computer Systems Analysts also made the list.
|Occupation||Volume||Year-over-Year % Change|
|Financial Managers, Branch or Department||2714||54.90%|
|Sales Agents, Financial Services||2023||21.10%|
|Insurance Sales Agents||558||-5.60%|
|Software Developers, Applications||524||49.70%|
|Computer Systems Analysts||504||46.50%|
Despite the high demand, we see that financial occupations on Wall Street are actually less difficult to fill than in other places across the US. The Hiring Scale scores these jobs at a 39 in the New York metropolitan area, and a 49 for the national average. Even though demand is rebounding, the local talent pool is enough to fill the local demand. With an estimated 230,000 financial professionals in the New York metro, Recruiters are likely to have candidates to source from. However, overall conditions may change based on specific skills or experience that is required for each individual job.
Hiring Scale for Financial Occupations on Wall Street
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