Finance Jobs Outlook Cautiously Optimistic for 2010

Skip to Navigation Skip to job search form Skip to page content

Need more options? Browse Jobs by Company, Date Posted, Job Title, and more job categories

Advice » Job Hunt Strategy » Company & Industry Research » Finance Jobs Outlook ...

Finance Jobs Outlook Cautiously Optimistic for 2010

By Dona DeZube, Monster Finance Careers Expert

Those who still had accountant jobs, banking jobs, finance jobs and investment banking jobs spent 2009 doing more than ever while sometimes being paid less than ever for their efforts. Whether you're ready to change jobs or you're unemployed, there's good news: Financial careers experts believe 2010 is going to be much better than 2009 for those in accounting, insurance, investment banking and finance positions.

"There are positive signs for the future," says Todd Steen, an economics professor and labor market guru at Hope College in Holland, Michigan. "The economy is going to come back eventually, and we're still going to need banks, financial advisors and mortgages."

Accounting Jobs Outlook

In accounting, companies will continue to be strategic about their hiring, but certain specialists will do well, says Dawn Fay, president of Robert Half International's New York district.

The most in-demand accounting jobs include tax accountant, International Financial Reporting Standards specialist, corporate governance and compliance specialists, business analysts and tax analysts. Financial analyst jobs should also pick up.

Finance Jobs Outlook

Within the broader scope of finance, demand will be solid for those who help companies cope with regulations, such as the Securities and Exchange Commission's move to increase oversight of managed investment funds.

Hiring of fund accountants, operations professionals and compliance experts will all pick up in 2010, according to James Langan, a partner with recruiter Winter, Wyman's Investment & Financial Services division in Boston.

And as the credit crisis continues to play out, financial services firms will be looking for credit managers and senior financial analysts in 2010, Fay says.

Buy-Side Outlook

As long as the Dow doesn't fall significantly, medium to large asset- and investment-management companies will shift from laying off to hiring in the first quarter of 2010, Langan says.

Firms that operated in early 2009 with a bare minimum of staff have already started hiring. "In late 2009, hiring was fairly active for sales, marketing and asset-gathering professionals," says Frank Carr, a partner with the investment-management practice of Battalia Winston Amrop, a New York City-based recruiter. As hedge funds' assets grow, those fund companies will hire more investment analysts and back-office people later in 2010, he adds.

A second trend influencing fund hiring is frustration over stagnant finance salaries, nonexistent bonuses and a lack of opportunities caused by promotion freezes. "It's amazing the number of people who work at these firms who cannot wait to make a move," Langan says. "That's going to cause open positions."

Investment Banking Jobs Outlook

After taking huge write-offs in 2008, Wall Street was posting surprisingly good numbers by the end of 2009. However, credit card firms, rating agencies and commercial banking struggled with poor results in 2009. Either way, your financial fortunes follow your company's fortunes in finance.

"If you were in investment banking your incentives and bonuses went up in 2009, and if you were in a credit card company or an asset manager, they went down," says Alan Johnson, managing director of Johnson Associates, a compensation consulting firm in New York City.

In 2010, those trends will likely reverse as the favorable trading spreads that fueled 2009 investment bank income disappear, while an improving economy should boost the credit card and commercial banking industry, he says.

Financial Planning Jobs Outlook

The market for financial services and insurance will expand in 2010, as consumers regain confidence in investment opportunities, says Frank Woodruff, CEO of Sapient Financial Group, a San Antonio-based member of MassMutual Financial Group.

When demand rises, companies will hire financial planners and insurance agents. At the same time, though, consolidation in the banking industry has led to layoffs in back-room and support operations in financial service sales operations, Woodruff adds.

TARP Jobs

Another area of finance that will see growth in 2010 is the troubled asset sector. The US government's Troubled Asset Relief Program (TARP) has created unique pockets of demand for professionals in accounting, finance, legal services and real estate, says Joe Burkhart, a sales director for Spherion, a Fort Lauderdale-based recruiter.

Battalia's Carr says professionals who can squeeze a profit out of buying and selling troubled assets will be in demand for one-off positions. "There are new funds coming up with new ways to take advantage of the dislocation, and there we could see hiring," he says.

It All Depends on the Economy

A final word of caution: Anyone trying to predict what the 2010 job market will look like is also making an assumption about what the economy will do. So while things appear to be looking up for financial services, these predictions could all change if the US economy falters for another year.

Articles in This Feature:

2010 Outlooks: Industry Hiring and Job Trends
2010 Hiring Outlook
Engineering Jobs: Hiring and Salary Outlook for 2010
Finance Jobs Outlook Cautiously Optimistic for 2010
2010 Government Jobs Forecast
2010 Healthcare Employment and Salary Outlook
Hospitality Jobs Hiring Forecast for 2010 outlook
Sales Jobs: Hiring Outlook for 2010
2010 IT Salary & Jobs Outlook
Temporary Jobs Forecast: 2009-2010

Rate this article:

Average rating:

Email to a friend

Join the Discussion

Latest Jobs

Business Development Manager / Outside Sales

CareersUSA

Posted: 5/23/2013

Winter Park, FL,...

Business Development Manager / Outside Sales

CareersUSA

Posted: 5/23/2013

Plantation, FL, ...

Business Development Director / Outside Sales

CareersUSA

Posted: 5/23/2013

Boca Raton, FL, ...

Business Development Manager / Outside Sales

CareersUSA

Posted: 5/23/2013

Newark, DE, 1971...

Housekeeper - Hotel

CareersUSA

Posted: 5/23/2013

Horsham, PA, 190...

Want more personalized results? Update Your Profile

View All Latest Jobs

Browse Advice

Job Hunt Strategy

Resumes & Letters

Interviewing

Salary & Benefits

In the Workplace

Career Development

Featured Advice Resources:

Browse All Articles in this section

Rate this article:

Average rating:

Monster Advice Forums

Looking for Answers?

Get them on our boards:

Resume Tips
Job Search Advice

All boards

Join the Discussion

Monster Communities

Teaching Community: Where teachers meet and learn.
ArtBistro: Create and connect.
Excelle: Networking for the career-minded woman.
Nursing Link: Where nurses call the shots.
More Monster Communities

Monster Partners

Scholarships: Scholarships, financial aid and more ways to pay for school.
Education.org: Find top campus and online degree programs.
Military.com: Military portal for the US Army, Navy, Air Force, Marine Corps and Coast Guard.
Financial Aid: Scholarships & financial aid.
Staffing for Government Jobs: Staffing and hiring solutions for federal government agency jobs.
More Monster Partners

Job Hunt Strategy

Six Ways to Make a Recruiter Hate You

If you want to blow your chances with recruiters -- and, by extension, with the companies they work for -- here are six perfect ways to do so.

Resumes & Cover Letters

Rev Up Your Resume to Relocate

Hoping to relocate? Get the ball rolling on landing the right job in the right location with these expert resume and cover letter tips.

Interviewing

100 Potential Interview Questions

Interview questions can run the gamut. You probably won't face all 100 of these, but you should still be prepared to answer at least some of them.

Salary & Benefits

10 Questions to Ask When Negotiating Salary

Most of us aren't natural negotiators, but asking these 10 questions during salary negotiations can help you get everything you deserve.

Attracting Candidates

Facebook for Employers: Make Friends, Not Fans

Recruiting? Go where the talent is. See why recruiters have befriended social networks.

Employee Sourcing

Employment Index

November Monster Employment Index Grows 13% Year-Over-Year, Tenth Consecutive Month of Positive Annual Growth.

Interviewing Candidates

Improving Interview Skills: Learn from the Experts

What’s the key to a great interview? According to experts: Practice, practice, practice.

Workforce Planning

Enhance your Small Business Marketing Strategy with Social Media

Social media. It’s everywhere. But how can it help you? Learn how to utilize social media even monetize it.

For Seekers

Campus and Online Degrees: Advance your career and earn more with an online degree.
Free Salary Wizard: What are you worth? Find out and negotiate a better salary.
Research Careers: Get information on jobs and career paths to help guide your choices
Questions & Answers: Find answers to all your career related questions -- powered by Yahoo! Answers
Resume Distribution Service: Our distribution service puts your resume right in the hands of recruiters.
Resume Writing Services: Our experts will craft a keyword-rich resume that stands out in the crowd.
More Career Resources

For Employers

Career Ad Network: Target your job posting to more candidates on thousands of websites.
Hire Right Background Checks: Explore our background check packages to improve the quality of your hires.
Hiring Home Page: Find the best candidates for your business with Monster hiring solutions.
Job Postings: Find the right solution for your hiring needs. Starting at $99.
Power Resume Search: Monster's new search technology precisely matches people with your jobs.
Resource Center: Find staffing insights, labor trends, HR best practices and more.
Target Post: Connect with skilled, hourly and administrative candidates for only $99.

Social Media

Jobs on Twitter: Find jobs in your area and industry.
Monster Careers: Tune into our career advice and discussions tackling a wide range of topics and industries.
Monster Corporate & PR: Stay up-to-date on the latest news. Get the 'Who', 'What', 'When', and 'Why' on all things Monster related.
Monster Customer Service: Got a Monster question? We've got the answer. Whether you're a job seeker or employer, we can help you find the answers you need.
Monster for Employers: Find advice on hiring.
Follow Us: Check out our many pages and stay connected with the latest industry news, events, career advice and job openings.

Are You An Employer?

Top Articles

Most Popular Jobs

Additional Resources

Finance Jobs Outlook Cautiously Optimistic for 2010

Email to a Friend

Related Articles:

Latest Jobs

Browse All Articles in this section

Browse All Articles in this section

Browse All Articles in this section

Browse All Articles in this section

Browse All Articles in this section

Browse All Articles in this section

Looking for Answers?

Popular Questions & Answers

Popular Job Searches

Monster Communities

Monster Partners

Job Hunt Strategy

Resumes & Cover Letters

Interviewing

Salary & Benefits

Attracting Candidates

Employee Sourcing

Interviewing Candidates

Workforce Planning

For Seekers

For Employers

Social Media

Other Links