What is the Employment Outlook for Careers in Finance?

If you’re interested in a future finance career, there is plenty of information out there that can help further educate your decision. One big question asked of this line of work, as it is asked of so many others, is that of longevity and security. What type of employment outlook does the financial sector appear to offer, now and in the future? To learn more, read on.

Job Security Aplenty

To cut straight to the chase, the current and future financial markets are absolutely saturated with opportunity, and that field of opportunity is expected to continue to grow exponentially. The reasons for this involve many factors including the never-ending financial needs of mankind as well as the projected future growth of world populations. We’ll get to more on these circumstances shortly, but for now, let’s look to the some of the types of careers encompassed here as well as their speculated growth going into the future.

According to the Bureau of Labor Statistics, virtually all careers in the financial sector will continue to see healthy growth. Through 2021, accountant and auditor positions will expand by around 13.1 percent. Through that same time frame, financial advisors are expected to multiply by around 27 percent. Financial analysts will multiply by 15.5 percent while those working as credit counselors, tax preparers, and loan officers will also see plenty of positive growth. Across the board, nearly all finance-related vocations will open up in such encouraging fashion. However, there are two exceptions in this overall wave of growth says the BLS. Expected to decline through the year 2021 are the vocations of insurance underwriters, tax collectors, and tax examiners.

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A Changing World Market

So, the news is in, and overall, it’s great for anyone interested in a finance career. But what is it that makes this the case? For those interested in the whys and hows of it all, the BLS gives some great insights to all this as well.

According to the Bureau and as touched on above, world populations will continue to grow, and with that growth in humanity comes the associated basic needs of finances, money, currency, exchange, and more. Despite their greatness, these are not the only reasons for such growth, however. The BLS also cites great change and evolution in many areas of finance as equally powerful drivers of this projected growth.

In short, new technologies involving exchange, security, and even cryptocurrencies have begun entering the scene. With these new financial elements comes the demand for many new finance workers. Additionally, old ways of handling finance have had to undergo many changes in recent times. Massive thefts, hacks, and other now-exposed vulnerabilities have fueled the need for change, and as a result, massive numbers of workers to help enact and maintain that change. All said, the financial world is growing and changing at a rate many believe is unprecedented at this point.

It’s always good to question the job security of a sector before diving all in with one’s career and future plans. In the case of today and tomorrow’s financial sector, those concerned with these kinds of questions certainly don’t need to be here.