Link to the royalty-free image taken from the public Lensa Twitter profile
Kyiv City, Ukraine, July 4, 2023 – Whether you’re currently unemployed, looking to change companies, or seeking to make a career change, 2023 is as good a time as any to be exploring the job market. Companies across all sectors of activity are experiencing record-high employee quit rates. And, due to a combination of factors – the digital revolution, the residual effects of the COVID-19 lockdown, and a subsequent shake-up of the job market – the US market is undergoing a labor shortage that, in some industries, translates to two available jobs for every one person seeking employment.
However, industry experts are predicting hiring slowdowns to take effect in the latter half of 2023. So, if you’re looking to make a move, strike while the iron is hot. This doesn’t mean you should jump on the first chance that comes your way. It’s best to be prepared, set expectations in accordance with industry standards and trends, know your value and your priorities, and act prudently.
With all that in mind, in this article, we’ll take a look at the popular AI-powered US-market job search portal, Lensa, how it can help you find a job in finance, and which positions are poised for long-term viability and which positions are not.
What Is Lensa
When it comes to finding your dream job in finance, you’re not going to want to go it alone. And you don’t have to. With the popular online AI-powered jobs search engine, Lensa, you have at your fingertips a combination of the latest in artificial intelligence and machine learning technology and a dedicated staff of friendly professionals – all at your disposal to steer you toward finding and landing the job you love.
The process is fast and simple – and completely free for job seekers. You simply upload your resume. For best results, make sure your resume is AI-friendly, meaning it is compatible with ATS technology (application tracking system).
Once your resume is uploaded to Lensa, select a few filters that define your priorities, and the machine learning algorithms will match you with jobs you are not only likely to get but that you are likely to excel in too.
The Prospect of the Finance Industry in 2023 and Beyond
We won’t sugar-coat it for you, the outlook for the finance industry in 2023 and beyond is not all sunshine and roses. Rising interest rates, continued political tensions, and a steady increase in global inflation all conspire to suggest that investments will be on the decline. However, on the other hand, these challenges will also mean that financial institutions and concerned individuals will need competent and creative professional guidance perhaps now more than ever.
There is much uncertainty in the financial markets in 2023. Tech stocks might tumble, and much of the latest market thinking from the world’s finance experts is admittedly gloomy. But there will also be winners in these scenarios. And there will undoubtedly be new financial products created and tested that will shake things up in ways we cannot yet see.
So, while 2023 and the foreseeable future don’t project to be easy times for financial institutions, the need for creative out-of-the-box solutions should be on the rise as should the need for talented financial experts, too.
Types of Finance Positions Trending in 2023
Link to the royalty-free image bu Jonathan Chng
Not all jobs are created equal. Here is a short list of which positions industry experts are predicting will continue their upward trend in 2023 and beyond.
In contrast to decades such as the 1980s or the 2000s, we are not living in a high-risk high-expenditure financial climate. Instead, financial institutions and the businesses they work for are seeking to be more prudent, favoring efficiency and security over high-risk-reward transactions. This mindset favors financial experts whose roles pertain to developing budgets, searching for greater efficiency, and monitoring performance in relation to budgets.
Financial controllers are compliance-oriented. They have excellent communication and interpersonal skills as well as leadership qualities. They also possess a strong academic background – most positions require at least a master’s degree in accounting or a similar field.
Personal Financial Advisor
The U.S. Bureau of Labor Statistics projects a whopping 15% growth in the need for personal financial advisors in the decade. This is a growth rate far above other occupations in the field. They also project over 30,000 job openings for personal financial advisors – and that is a per-year projection.
Personal financial advisors can expect to earn between 90k and 120k annually. And this position offers a lot of room for growth as many personal financial advisors have gone on to hold other positions such as CFO or financial controller, later on in their careers.
It is easier to get a job in finance as a personal financial advisor than many other positions as the academic background requirements are not as strict. Generally, a personal financial advisor is expected to have a bachelor’s degree, and requirements for prior experience are not as rigorous either.
The growth rate for the position of data scientist in the US – according to the U.S. Bureau of Labor Statistics – is a staggering 36%! This is thanks, in large part, to the flexibility of this position. Data scientists are needed in the finance industry just as they are needed in healthcare, manufacturing, and nearly all other industries that use data (the list of which is growing larger and larger each quarter).
A job as a data scientist offers flexibility as well as the possibility to integrate other industries down the line. The need for data scientists is expected to increase as the threat of fraudulent data and data protection continue to be priorities for companies across all sectors of activity.
In a Nutshell
When it comes to the US labor market, the leverage is clearly on the side of the job-seeker. However, the window for that favorable situation is closing – and this is especially true in the finance industry. The time for action is now. Use the AI-powered online job search engine, Lensa, to improve your chances of finding and landing the job of your dreams in finance.
Organization: Lensa, Inc.
Address: Kyiv City, Ukraine