The world is in the grip of an economic downturn which in turn is leading to soaring unemployment rates. We should understand clearly that Finance jobs have always been a preferred career choice amongst the masses. Despite current economic situations surveys show that nearly three-quarters of all job seekers in the financial services sector believe they will be gainfully employed by the year end. More than 50% of these people also believe that they will receive compensation either at par or higher than present amounts in the finance sector.
What we need to bear in mind is that the finance sector is one of the hardest hit as the economy struggles to get back on track. Despite this there is an air of optimism amongst finance professionals in the job market.
Let us review some of the biggest hurdles one faces in landing a job in the financial sector. We can summarize as follows:
– Many companies have instituted a hiring freeze – no new hires for the year or that particular financial period.
– Competition is exceedingly high – the finance sector, remember is one of the top job choices for people.
– Insufficient experience for the finance jobs available – the current trend is for companies to seek professionals who can turn business around – not every one has this high level of experience and expertise.
Okay! Let’s move on from hurdles to the mood set of the finance job seekers. The mood surprisingly is very buoyant and optimistic despite the tough road ahead. Surely you know that you have many challenges ahead of you in your chosen field of finance due to the current market situation. Don’t let this be a deterrent in any way. Continue to hold fast to your aspirations and seek the goals you have set for your self.
What about the younger generation who have chosen finance job as their career path? Let us look at the finance graduates who are emerging into the finance job market. They feel it is a good year to be graduating and a strong need is felt for continued education with the industry changes that are being made every year.
Financial planning and non-banking sectors are seeing the highest recruits presently. He feels the recent volatility in the mortgage industry and the decline in the housing market will have some impact going into fall, but overall says it appears to be stable. Most recruiters are cautiously optimistic in the present economic conditions.
Some Tips to Succeed in the Finance Job Market
As finance professionals seeking a job in present economic conditions, here are some tips you can act upon to push yourself ahead of the competition.
Tip #1: Improve and Update your Skills Set – the basic thing that will put you ahead of the competition is to have a skills set that is better than your competition.
Tip #2: Polish Your Resume – presentation of your resume is very important and can effect a decision on whether you get the job or not.
Tip #3: Register with Finance Recruitment Consultants – the top recruitment houses is always in the know of the jobs available in the market. Register your resume with the best agencies for your finance job.
Don’t give up on your personal goals and aspirations. Fight for what you believe is the chosen career path for you and make a success. Markets will turn around as governments work overtime to bring about this change.