The Finance Whisperer

The 3 Best Jobs in Finance

For those who have recently shied away from applying to finance related roles due the current fluctuating state of the economy and the constant threat of layoffs, there is a light at the end of the tunnel for three particular roles within finance: mortgages, accounting, and financial analysis.  In a recent article, Beecher Tuttle reports that these three professions have seen an increase in hiring from entry-level to experienced professionals. 

Mortgages:

Thankfully, the housing marketing is beginning to stabilize and see growth again after the hard hit in 2008.  MarketWatch, a financial information Web site, reports that mortgage applications saw a 45% increase in the US in the beginning of January 2013.  With this, interest rates are at all time lows, which according to Randstad Finance and Accounting, a staffing firm, has brought about a demand for loan documentation specialists and mortgage underwriters.  Additionally, the stricter regulations following the financial crisis, have increased the intricacy of mortgage lending, and therefore, have required financial companies to hire an increasing number of professionals with the appropriate skill set.

Accounting:

Accountants continue to be in high-demand and accounting firms such as Ernst & Young (E&Y), perpetually look to supplement their workforce.  Specifically, E&Y looks to hire over 10,000 additional employees in the U.S. and 20,000 additional employees globally, before June hits.  Similar expansion can be seen at other companies, and is not exclusive to accounting firms.  Companies outside of accounting also look to expand their in-house accounting teams.

Financial Analysis:

As seen in mortgages, the implementation of more stringent regulations resulting from the financial crisis has led to an increased need for knowledgeable financial analysts in 2013.  Randstad reports that those with budgeting and forecasting skills are especially sought after.  Moreover, the number of job opportunities within this field should see long-term growth.  The Bureau of Labor Statistics reports that the number of financial analyst positions should rise by 23% in the next 10 years.

These jobs continue to see growth and opportunities, despite the unpredictable economy.  If you remain interested in finance, these are great roles to focus on when looking for job opportunities.  Best of luck!

Job Seekers, Rejuvenate your Search in the New Year

The New Year allows for a fresh start and whether you are currently unemployed or looking for a career change, a fresh start is a great opportunity to revive your job search.  However, with 12.2 million Americans currently unemployed, the competition to get the job offer is fierce.  In a recent Forbes article, Jenna Goudreau, speaks with certified career management coach, Carol Camerino, to gain tips on how to refresh your job search and get a leg up in this competitive job market.

1. Decide What You Are Looking For

Although this may seem like the most obvious question, it is often the most challenging.  You know that you want a new job, but what do you want it to be?  To answer this question, reflect on your strengths and weaknesses, like and dislikes, as well as which type of work culture you would like to be a part of.  Once you have answered these questions, you will be better prepared when asking others for help and advice in your job search.

2. Develop Your Skills

To make yourself a more competitive candidate, make a list of your relevant skills, i.e. speaking a different language or knowing computer programming, and then determine how you will enhance these skills.  If you think of a relevant skill you have not yet required, take steps to gain this skill.  A few ideas to hone your skills are to participate in an internship or relevant volunteer program or, seek mentorship from members of your career network.

3. Overcome the Most Common Job Search Barriers

Every job seeker will face obstacles; narrow-mindedness, lack of organization, not setting enough time aside, but the most important thing is to know how to overcome these barriers.  When evaluating job opportunities, it is hard not to compare it to your current or former job.  Remain open-minded, the job may be different than the last one, but different is sometimes better.  Also, remember that disorganization can lead to decreased productivity.  Organize your work space and make a list of tasks that you need to accomplish.  Lastly, it is important to set aside significant time for the job search.  Although it may be tempting to tag along to the last minute lunch plans, treat your job search as a job.   

4. Revitalize Your Personal Brand

Prove that you are the best candidate for the job by evaluating and updating how you are portrayed both offline and online.  Offline, make sure your resume it up-to-date and make changes to the content as needed.  If possible, seek the advice of a mentor to make these changes.  Online, make sure you are displaying a professional online presence.  This professionalism should be seen across all social media platforms you are a part of, including Facebook, Twitter, and Pinterest.  Among other things, pay attention to grammar, pictures, and privacy settings.  Also, consider creating a blog or personal Web site to easily exhibit your relevant work experience.      

5. Be Prepared

Once you begin to schedule interviews, preparation is key.  For your interview, be prepared to discuss obstacles you have faced, how you overcame these obstacles, and final outcomes.  For each of these circumstances, think of stories to highlight your experiences and dedication to the job.  Stories help listeners to better relate to the experiences.  Keep in mind, to avoid sounding dull during the interview, don’t memorize these stories word-for-word, but instead keep key points in memory so that you can tell an engaging story.     

Good luck!

Tips for Getting a New Job in 2013

The New Year brings new resolutions, and if you’re one of the many who has resolved to look for a new job, you’re not alone.  According to TheLadders, January to March sees the biggest jump in job-seeking activity and in a new study by Right Management, they found that out of all employees surveyed, 86% will be looking for a new job in 2013.  That’s a 26% increase since 2009!  As we head towards January, now is the perfect time to begin planning and preparing for the job seeking season.  In a recent Forbes article, Jenna Goudreau, speaks with TheLadders job search expert, Amanda Augustine, to provide you with a few tips to get you ready for January.

1. Google Search Your Name

It is important to monitor your presence online and observe how the web portrays you.  This way you can take steps to ensure that you are presented in the best light.  Make sure to modify online profiles and update privacy settings.  Also, know the top results when you search your name, so that you are prepared to answer any questions about the search results in an interview. 

2. Have a Good Understanding of Social Sites

The 4 big social sites are Facebook, LinkedIn, Twitter, and Pinterest.  These sites can be extremely helpful in enhancing your professional presence online.  Here you can display work experience, provide links that pertain to your career, and highlight important business news to showcase your knowledge and business savvy.  85% of recruiters say that seeing a candidate’s online presence, can influence their hiring decisions in a good way.

3. Dress to Impress

How you look and what you wear can have an effect on a recruiter’s impression of you.  Within a blink of an eye, a person will judge if you are capable and intelligent.  This is relevant for both your in-person and online presence.  During an interview, make sure to dress in a classy and appropriate manner.  Online, make sure your profile picture is professional. 

4. Get a Smart Phone

Having a smart phone and therefore, easy access to your e-mail, allows you to make the most of your time.  You not only have a quicker response rate to recruiter inquiries and interview requests, but you can also easily conduct additional job searches during your free time.  Save a copy of your resume on your cell so that you can send out your resume to recruiters at a moment’s notice.   

Best of luck in your job search!

Recent College Grads: the Best Way to Land a Job in 2013 May Be Through an Internship

Recent college graduates and students have been especially hard hit by the current mediocre state of the economy; 54% of this population is either unemployed or underemployed.  Luckily, there seems to be a new path to take when trying to secure a job: the internship.  In a recent Forbes article, Jacquelyn Smith, discusses a new survey which examines the transition rate of internships into full-time jobs in 2012.  The study, carried out by Internships.com, from December 1^st through December 4^th, 2012, surveyed over 7,300 students and recent graduates, and more than 300 individuals within human resources.

The study found that in 2012, 69% of companies with 100 or more employees extended a full time job offer to their interns.  In other words, approximately 7 in 10 interns were hired full-time!  The internship allows employers to evaluate the intern beyond a simple job interview.  It also gives students and recent grads the opportunity to try out a career.

The hiring forecast for interns appears to be even brighter for 2013.  Of the companies surveyed, 53% plan to hire more interns in 2013 compared to 2012.  Additionally, the number of internships offered is expected to grow: 36% more employers offered internships from 2011 to 2012 and an even greater growth percentage is predicted from 2012 to 2013.  As a way of the future, 33% of companies hired virtual interns in 2012.  From 2011 to 2012, this was a 20% increase.  Virtual internships are giving students an opportunity to gain valuable work experience aside from just after class and summer vacation when it is extremely competitive to gain an internship slot.

Now is the time to look for an internship.  It will give you the chance to decide if the career is right for you, gain valuable experience, and get a leg up on your peers in a competitive job market.  Best of luck!

The Most In-Demand Jobs of 2013

Happily, a new year brings new jobs.  For those on the hunt for a job, this is exciting news!  However, job openings will not be distributed evenly across sectors and for some occupations; it will be easier to find a job than others.  In a recent Forbes article, Jacquelyn Smith, discusses a new study which examines the 18 top jobs that require a bachelor’s degree in 2013.  The study, conducted by CareerBuilder and Economic Modeling Specialists Intl. (EMSI), uses the EMSI labor market database to determine the professions which added the most jobs from 2010 to present.  The database captures over 90 national state and national employment resources.  The study allows those looking for jobs to identify where career opportunities lie.  Based on the results of the study, it becomes apparent that many of these opportunities lie within technology and engineering.  This highlights the increased need for innovation and the growing demand for technologically savvy people in today’s business world.  Marketing and sales also see a growth in opportunities as people look for new ways to increase their revenues and increase the reach of their brands.  Additionally, there are an increased number of production-related and business operations support opportunities as U.S. industries work to bounce back from the recession.  Please see below for the complete list of 2013 top jobs:

1. Software Developers (Applications & Systems Software): 7% Growth

70,872 new jobs since 2010

2. Accountants & Auditors: 3% Growth

37,123 new jobs since 2010

3. Market Research Analysts & Marketing Specialists: 10% Growth

31,335 new jobs since 2010

4. Computer Systems Analysts: 5% Growth

26,937 new jobs since 2010

5. Human Resources, Training, & Labor Relations Specialists: 5% Growth

22,773 new jobs since 2010

6. Network & Computer Systems Administrators: 5% Growth

18,626 new jobs since 2010

7. Sales Representatives (Wholesale & Manufacturing, Technical & Scientific): 4% Growth

17,405 new jobs since 2010

8. Information Security Analysts, Web Developers, & Computer Network Architects: 5% Growth

15,715 new jobs since 2010

9. Mechanical Engineers: 6% Growth

13,847 new jobs since 2010

10. Industrial Engineers: 6% Growth

12,269 new jobs since 2010

11. Computer Programmers: 3% Growth

11,540 new jobs since 2010

12. Financial Analysts: 4% Growth

10,016 new jobs since 2010

13. Public Relations Specialists: 4% Growth

8,451 new jobs since 2010

14. Logisticians: 8% Growth

8,522 new jobs since 2010

15. Database Administrators: 7% Growth

7,648 new jobs since 2010

16. Meeting, Convention, & Event Planners: 10% Growth

7,072 new jobs since 2010

17. Cost Estimators: 3% Growth

6,781 new jobs since 2010

18. Personal Financial Advisors: 3% Growth

5,212 new jobs since 2010

How to Decide if a Company is a Good Fit for You during an Interview

A job interview is not only an opportunity for the company to evaluate you, but also a time for you to decide if the company is a place where you would like to work.  During your interview, make sure to observe the company environment and employees.  Take a tour of the office and if possible, meet potential colleagues.  Is the office environment formal or informal; are employees friendly or standoffish?  It will give you a glimpse into company culture and help you to decide if you want to work there.  In a recent Forbes article, Jacquelyn Smith, highlights 9 things to pay attention to during the interview:

1. Employee Interaction

If you will potentially work with these people, it is important to know how the employees interact with each other and those outside the company, on a regular basis.  Do employees seem friendly, genuine, and helpful, or cold, rude, and unsupportive?  You should begin this observation the moment you walk into reception; does the receptionist greet you in a welcoming manner?  Do employees acknowledge you when they pass?  Keep in mind, people who enjoy the company and what they do, are often friendlier.

2. Answering Phones

How employees answer the phones, can be a reflection of company culture.  When answering, do people appear to be warm and charismatic or serious, robotic, and scripted?  A charismatic response often means that the company appreciates individual personalities and people enjoy working there.  Scripted responses can sometimes mean that the company environment is more restricting.  These evaluations can also be made when listening to the employees’ voicemails.

3. Body Language

Pay attention to how employees carry themselves in the office.  Do employees seem at ease or nervous?  Do people tend to appear uncomfortable when management is nearby?  Do employees walk with confidence and purpose?  Often, body language is more telling than what people say.

4. Pace of the Work Environment

Although the pace of the work environment can vary based on industry, it is still important to take notice.  Usually in a fast-paced environment, employees are always on the move and phones are constantly ringing.  This can indicate that there is additional pressure to keep up.  Will you do well in this type of environment?  You must decide at which pace you work best.

5. Organization

Are the company and its employees organized?  Some cues to look for: does the interview start on time; is the interviewer prepared?  If the interview begins late without a good reason or the interviewer appears unfocused and preoccupied with his or her phone, these are not good signs.  Lack of organization is not a good quality for a company.

6. Physical Office Environment

Is the office comprised of mostly cubicles or is the working space more open?  Do employees personalize their desks or do work areas seem bland?  If you have the opportunity, also take a look at common areas such as the bathrooms, conference rooms, and the lunch room.  Do the layouts encourage social interaction and creativity?  The physical office environment is often a reflection of the day-to-day culture of a company.

7. Employee Dress

Some offices require its employees to wear suits every day, while other companies allow for a more laid back wardrobe.  Which employee attire would you prefer? 

8. Supervisor Interaction with Employees

Although this is not always possible to observe during a job interview, if possible, see how supervisors work together with their employees.  Do the supervisors appear to be overpowering or open-minded?  This interaction can clue you in to the type of work environment you would become a part of.

9. Level of Busyness

Overall, do employees look busy and engaged?  Keep in mind, if employees look too overwhelmed and tired, this can be a sign that the firm is understaffed.  On the other hand, if employees appear bored and have a lot of free time, business might be slow.

Best of luck!

How to Use Feedback to Advance Your Career

Feedback is an important tool that leads to growth and innovation.  By both sharing and receiving feedback, you participate in an exchange of viewpoints that can lead to an improvement in work performance and to the next step in your career.  In a recent Forbes article, Glenn Llopis, discusses how to use feedback to advance your career.

1.   Offer Feedback on a Regular Basis

Consistent feedback is often something provided by strong leaders.  By offering insight on your experiences, you provide a varying perspective and an example of how others can improve their work performances.  By providing this feedback on a regular basis, it is taken as more sincere and fosters trust in your working relationship.  It should be noted that the feedback you provide should have others view you as a source of growth and learning, not as a micro-manager.

2. Willingly Accept Feedback from Others

No matter your level at work, there is always room to grow.  Just as you provide feedback, you must willingly receive it.  It is important to listen and view the feedback of others as an opportunity to learn, gain a new perspective, and improve your personal work performance.  Welcoming the feedback of colleagues can be a major contributor to career advancement. 

Both constructive and celebratory feedback can foster communication and new ideas.  Whether giving or receiving feedback, it is important to use it effectively and not only apply the feedback to the current situation, but also see how it can improve the management of day-to-day job responsibilities.  Moreover, use it as an opportunity to both grow as an individual in your current role and to open your eyes to unseen career advancement opportunities. 

The Number of Finance Jobs Increases

During a time when the economy is uncertain and the unemployment rate is high; finally some good news about jobs!  In a recent article, Beecher Tuttle reported that despite the ongoing economic crisis and highly publicized news of layoffs, the finance sector continues to grow and the number of financial jobs continues to increase.  This was concluded after Richard Florida of The Atlantic, reported his analysis of the job market.  Florida found that from 2006 to 2011, the percentage of finance jobs within the US job market increased from 4.4% to 4.8%. 

Moreover, financial professionals are seeing higher wages.  From 2006 to 2011, the finance sector’s share of wages in the US market increased from 6.8% to 7.3%.  During this same time period, the average year-end wage within finance increased from $60,000 to $68,740.

Despite current economic conditions, the financial industry continues to expand, leading to not only more finance jobs but higher wages.  These findings shed a positive light on the future of finance.  If you are looking for a job, now is a great time to apply!

The Future of Business Schools

As people remain uncertain of the economy and await the upcoming political election, it has become apparent that times are changing.  These changes can also be reflected in the business school arena.  Prior to the financial crisis of 2008, many business schools solely aimed to produce an abundance of graduates ready for Wall Street.  However, in a recent Forbes article, Dorie Clark highlights that business schools have had to change their directions to cater to the evolving career paths in the financial world. 

A few schools leading the pack in this change of direction are Stanford University, Massachusetts Institute of Technology, Harvard University, and Babson College.  These schools are among the most entrepreneurial colleges in the nation and they have realized that they must foster adaptability and creativity, rather than the previous mindset that centered primarily on management skills.  Although management skills remain important, start-ups to Fortune 500s are seeking candidates that are entrepreneurial and who possess an innovative way of thinking.  Moreover, many business schools are beginning to embrace a global perspective.  They are teaching that you must take what you learn locally, to make a difference globally.  Entrepreneurialism will be the impetus of change and professionals with this skill set will be the leaders of the future.

Questions to Ask Before Accepting a Job Offer

Congratulations!  You beat out the competition and received the job offer.  You should be nothing but proud of this accomplishment.  But in your excitement, don’t forget to look before you leap.  Whether you have one or several job offers to consider, before accepting anything, there are important questions that you should ask.  In a recent Forbes article, Susan Adams called on Anita Attridge, a career coach for The Five O’Clock Club, to discuss the 3 must-ask questions.

1. Which future career opportunities are available to me?

Before taking a job, it is important to think about your future.  Ask about the opportunities you will have for career advancement at the company.  Did those that came before you take on additional responsibility and get promoted?  Is it possible to transfer into different areas of the company such as product development or finance?  Or perhaps this job is seen as a launching point and you are expected to get hired by competitors after you have done your time.  If possible, find out what people previously in this position are now doing.

2. Do you provide training and/or development programs for employees?

Some companies expect you to learn on the job and quickly adapt to the new environment on your own.  Other companies provide training and development programs which can teach you the skill set necessary for success and ease the transition.  Training programs can be helpful especially for those beginning entry-level positions.  Before accepting the offer, you should know which type of company you will be joining so that you can either adapt accordingly or decide it is not for you.

3. How is my performance measured within the first 90 days of employment?

You should have a clear understanding of what is expected of you during the first three months of your job.  If the company does have a training program, you may have a grace period that allows you to learn and adjust.  Or you may be thrown into the thick of it immediately.  Also, it is important to determine how you will be evaluated, whether it is through metrics and quotas, quality of work, or both.

Receiving a job offer is an exciting time but it is always important to take a step back and evaluate your options.  These questions will allow you to have a full grasp of expectations and opportunities before making your final decision.  Best of luck!