What Is The Employment Outlook For Jobs In Finance?

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Staff Writers
Updated September 4, 2020

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Finance Jobs Outlook

It's an exciting time to be a job seeker in search of fast-paced finance jobs. Experts at the US Bureau of Labor statistics are predicting that many positions within this line of work are poised for sustained future growth. For many of these jobs, they expect to see expanding employment options up until about the year 2024. Some finance jobs have a more promising outlook than others do. Let's take an in-depth look at the employment outlook for jobs in finance.

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The Employment Outlook for Financial Analysts

Experts at the US Bureau of Labor Statistics expect to see both strong growth and strong competition in the future when it comes to financial analyst jobs. As of 2015, financial analysts were earning annual salaries of $80,310. There are more applicants than available jobs in this niche thanks to the attractive pay rates and the perception that this line of work is respectable and rewarding.

Experts predict that there will be 12 percent more financial analyst jobs in 2024 than there were in 2014. There are multiple reasons they expect to see growth in this occupation. For starters, new financial products and trading opportunities are being introduced to the marketplace at a fast pace. New, emerging world markets are adding more complexity to the menu of investment choices. Analysts are needed who can help their colleagues and clients understand and navigate the investment opportunities that are becoming available in other geographic locations and at home.

The Employment Outlook for Financial Examiners

The job title of financial examiner is one that pays well, with an annual median salary of $78,010 as of 2015. Banks and mortgage companies need to hire increasing numbers of these professionals to ensure they are compliant with current and ever-changing financial regulations. Because financial regulations in the USA have evolved at such a quick pace in the recent past, experts at the US Bureau of Labor Statistics are predicting a whopping 16 percent rate of employment growth in this line of work.

While the federal government does have a history of employing financial examiners, the employment outlook for government work in this occupation is not favorable. So if this career path appeals to you, it's preferable to tailor your academic credentials and work experience in a way that would appeal to hiring managers at financial institutions.

The Employment Outlook for Financial Managers

Financial manager is one of the most financially rewarding and desirable job titles. In 2015 in the USA, managers in the finance industry earned median yearly pay of $117,990. It's no surprise that there's fierce competition for these highly sought-after jobs.

This is one niche where experts at the Bureau of Labor statistics are not expecting to see strong growth. Their projection is for a 7 percent rate of growth, which is about the same as their average growth projection for all employment niches.

This is a role where demand for jobs is significantly greater than the number of job openings. If your goal is to become a financial manager, you could distinguish yourself from other candidates by obtaining a graduate degree, becoming certified and / or gaining business management experience while you are working on earning your undergraduate degree. It would be beneficial to seek employment with a corporation that offers a management trainee program while you are working on earning your bachelor's degree.

If you're wondering whether or not a career in finance would be worth pursuing, we hope these insights are helpful to you in making your decision. As you've no doubt inferred from the data posted above, finance jobs can be expected to pay well; however, you'll have to develop your expertise and credentials to qualify for the best positions, despite strong future growth projections in the finance sector.

See also:Top 19 Cheap Online Finance Degree Programs (Bachelor's)

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