Financial Industry Jobs: winners & losers for 2015

2015’s job scene would be led by a few major industries and Financial Service sector happens to be one of them. However, not all financial services jobs would be a part of this purple patch. Here is a prediction of job prospects for various financial services areas in 2015:

Cyber Security (UP) – 2014 would be a year remembered by various cyber security attacks such as the Sony Hack and the leaked pictures of celebrities, signaling towards a lack of talent in the industry. Thus, it is no surprise that 2015 would involve a rise in demand for cyber security experts with budgets rising by $2 billion. Senior ranks such as CISOs would also gain traction.

2nd Year Investment Banking Analysts (UP) – With investment banking analysts, the general career growth path usually includes moving into a specialization involving managerial positions and investor relations. Almost a third of the 2012 class has made a move towards private equity in the last year. The gap created by this move would be filled in 2015.

Boutique Banks (UP) – It is no secret that bulge bracket candidates are routinely hired by various middle market firms and boutique banks. Names like Zaoui & Co., Moelis & Co., and Centerview Partners belong to this list as well. In fact, current statistics reveal that 8 out of 25 of the investment banks at the top are boutiques. This migration would slowly rise in 2015.

Risk and Compliance (UP) – The most in-demand positions in this field include controllers, financial analysts, auditors and BSAs with skills like CFA, CGMA, CIA, CISA, CMA, CPP and PMP. Already, Citi, HSBC and Standard Chartered have created 10,000, 7,000 and 2,000 new jobs in this field respectively and this is all set to continue.

Big Data (UP) – In Banking, there are only 6.2 candidates available for every big data analytics and management job and the hiring has only begun. With the number of new IPOs experiencing a rise in the U.S, big data jobs would enjoy an uptrend in 2015.

FX Sales and Trading (Down) – With FX turnover falling down by 20% y-o-y as per reports in April 2014 and 16% overall, this industry is not faring well when it comes to job prospects. Because of trading getting increasingly automated and volatility of the FX market getting reduced, more job cuts can be expected in 2015 in this industry.

Prime Broking (Down) – 2015 is looking to be an era where people will play it safe and thus, an industry that is capital hungry cannot be expected to do well. Moreover, the cuts have already begun with Credit Suisse and Barclays both reducing the headcount. Prospects for 2015 don’t look good for prime broking.

Investment Banking Ops (Down) – Being a primarily back office job, the boom period of the banking industry is not trickling down to investment banking operations pros. The reason could be increased outsourcing to specialized 3rd party providers.

Medium and Small Hedge Funds (Down) – 2014 is the year when almost 889 hedge funds faced closure (until November). The hiring in this industry might have risen because increasing competition with banks and private equities but the prospects don’t look good in 2015.

Equity Derivatives Traders (Down) – With the revenues of the third quarter falling by 16% and the industry being increasingly automated, the added low volatility is hurting the prospects of this industry in 2015.

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One response to “Financial Industry Jobs: winners & losers for 2015

  1. Pingback: Muted Bonus Season on Wall Street & The City | Alpha Banker·

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