Financial sector offering good career options

The UK financial sector is starting to enjoy a strong period following the rather uncertain last few years.

Therefore it could be a good time for people to think about pursuing a career in the financial services industry as firms look to expand and recruit new staff members.

The Office for National Statistics reported a fall in the number of financial sector employees in 2012-13, but there are signs of a recovery across the sector as UK economic situation improves.

In 2013, the total number of people employed in financial services in London had increased by 5.5 per cent since 2009 – and this is set to rise even further when the figures for 2014 are released.

TheCityUK recently produced a comprehensive employment survey of financial sector jobs and concluded the total number working in financial services in London in June 2014 was 703,900.

This was up 11 per cent up compared to 2009 and also the highest number on record – two per cent higher than the employment levels in the pre-crisis peak of 2007.

In particular, some financial areas have enjoyed a sharp rise in the number of vacancies on offer, with an increase in workforce sizes.

Accounting and management consultancy employment numbers increased by five per cent to 254,300 during the first six months of the year, while fund management employment was up by 4.5 per cent to 25,300.

In addition, the latest Recruitment and Employers’ Confederation (REC) and KPMG poll has identified finance and accountancy as being the sector with the second highest level of demand for staff.

This could lead to strong pay packages for those with the right skills who may be looking to switch jobs for more attractive rewards.

It will also mean that many employers could have to ensure they do more to retain current staff otherwise they could experience a skills gap.