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Finance Trends That May Affect You
Now is a good time to launch a career in finance. Firms have more openings and are paying more than in recent years, as they seek to reach a global, diverse market.
Globalization
Probably the biggest trend in finance, as in much of
the rest of the economy, is the growing global perspective.
Firms increasingly seek a worldwide market. Recruiting and
even training often take place across borders, as in the case
of Benjamin Robbins, who trained in London for his Manhattan
job with Deutsche Bank (translation: "German Bank"). In fact,
London is probably the fastest-growing financial center in
the world right now. According to The Financial Times,
Columbia Business School graduates head to London in numbers
second only to those staying in Manhattan. Fancy a hop across
the Pond? DiversificationYou already knew about diversifying your investment portfolio, but in terms of the human capital firms now seek, diversity is increasingly important. Investment banking may still be one of the most traditional sectors, but commercial banks are leading the move towards hiring more women and minorities as they try to reach out to an increasingly diverse client base. Some elite investment banks even have internships or scholarships aimed at recruiting minorities.ExpansionBottom line: the sector is currently expanding. Robert Half International reports starting salaries will be increasing by up to 3.8 percent in finance and accounting this year. Some sources predict a skilled-labor shortage as baby boomers begin to retire, which is good news for current and recent college students, since the financial services demand their advanced training. |
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