2011 financial services job market report

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UNITED STATES FINANCIAL SERVICES 2011 JOB CANDIDATES Insights and Analysis from Professionals, Recruiters and Hiring Managers Sponsored by: Brought to you by Monster Intelligence

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The Financial Services Job Conditions Report offers a comprehensive view of the Financial Services job market. This study highlights online job postings and candidate resume activity across the United States and focuses on Financial Services professionals and recruiters looking to hire Financial Services talent.Gain insight on online recruitment trends, supply and demand conditions, and how job seeker characteristics mesh against employer needs. Plus, see what Financial Services professionals reveal about their careers in Finance, job search obstacles, and most valued skills and qualifications.This report provides: * An overall look at Financial Services supply and demand, together with a comparison of job seeker characteristics and employer requirements * A look at recruiters and hiring managers and their plans for acquiring Financial Services talent in 2011 * Insight on Financial Services professionals and their careers, job search obstacles and valued qualifications and skills

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Page 1: 2011 Financial Services Job Market Report

UNITED STATES

FINANCIAL SERVICES 2011 JOB CANDIDATES Insights and Analysis from Professionals, Recruiters and Hiring Managers

Sponsored by:

Brought to you by Monster Intelligence

Page 2: 2011 Financial Services Job Market Report

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Copyright @ 2011 by Monster, Inc. All rights reserved. No part of this publication may be reproduced, stored in a retrieval system or transmitted in any form by any means, electronic, mechanical, photocopying, recording or otherwise without the prior written permission of Monster, Inc.

FINANCIAL SERVICES – 2011 JOB CANDIDATES Finance, accounting and financial services professionals should find 2011 a bit kinder than 2010, with finance hiring trends looking more positive than last year, industry experts say. Those who‟ve survived the economic storm will be out picking around the economic rubble, and looking to move up or just out of their current positions. “There are going to be opportunities for experienced financial professionals as people start to move from one position to another,” predicts Mark Koziel, New York City-based director of firm practice management at the American Institute of Certified Public Accountants. Among the specialists most in demand include: treasury, trading, internal auditors, forensic accountants, financial analysts, compliance specialists, mortgage loan servicers and investment managers. Monster leveraged more than 1.7 million Financial Services resumes coupled with online job postings for talent across the United States in order to gain insight into candidates and employers. Data is current through December 2010 unless otherwise noted. Additionally, Monster surveyed Financial Services professionals, HR professionals, and hiring managers to present a snapshot of activity within the United States on Monster. The surveys were conducted between November and December 2010. About the Sponsor:

Ajilon Finance - Ajilon Finance is a leader in specialized financial staffing and recruitment. We place premier accounting, financial and bookkeeping professionals in temporary and direct-hire positions. In addition, we also provide a wide range of finance consulting solutions to companies on a project or interim basis, including senior-level financial and operations expertise. Please visit www.ajilonfinance.com for more information.

Accounting Principals - Accounting Principals is a leader in the recruitment and placement of accounting and finance professionals. Accounting Principals offers a complete range of workforce solutions in accounting, finance, mortgage and banking through our nationwide branch network and team of experienced professionals. For more information, please visit www.accountingprincipals.com.

TABLE OF CONTENTS

Hiring Talent in 2011 3

Financial Services Talent 3

Career Talent 5

Education Talent 5

Experienced Talent 5

Job Search Conditions 6

Market Conditions 7

Market Overview 7

Online Recruitment Trends 9

Recruitment Activity 10

Hiring Conditions 11

Supply and Demand Analysis 12

Labor Performance Matrix 14

Career Level Requirements 16

Education Level Requirements 16

Experience Requirements 16

Job Type Requirements 17

Job Status Requirements 17

Qualifications and Benefits 18

Compensation 19

Conclusion 20

Monster Intelligence 20

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HIRING TALENT IN 2011 Financial Services Talent The following data analyzes the supply (resumes) of financial services professionals on Monster nationwide. It provides a current picture of key financial services job seeker availability in the United States. The top three financial services occupations in supply across the nation listed below accounted for more than one-half (62 percent) of the candidates.

Skills Listed in the chart below are the top skills made available by financial services candidates on their Monster accounts. Computer skills, including Microsoft Word, Excel, and PowerPoint, dominate three of the top five skills with the remaining two - „soft‟ skills: Communication and Leadership.

Financial Analysts andAdvisors - 26%

Accountants and Auditors - 22%

Bookkeeping/Accounting/Auditing Clerks -15%

Financial Managers - 14%

Bill and Account Collectors - 6%

Loan Counselors and Officers - 3%

Tellers - 3%

Billing /Posting Clerks /Machine Operators - 2%

Payroll and Timekeeping Clerks - 2%

Other (Tax Examiners, Budget Analysts, Financial Examiners, etc.) - 7%

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In a recent Monster survey of more than 400 Financial Services professionals and 100 employers, respondents were asked “Which of the following "hard" skills are most in supply/demand when looking for the ideal finance job/candidate?” Hard skills are technical requirements of a job or activity that are teachable, often requiring on-the-job training or more formal education such as that provided by a college or university. Key Financial Services hard skills referenced by more than 40 percent of employer respondents included financial statements, forecasting, and Microsoft products. More than 36 percent of professional respondents included Microsoft products, financial statements, budget management, and forecasting.

Similarily, Financial Services professionals and employers were asked “Which of the following “soft” skills are most in supply/demand when looking for the ideal finance job/candidate?” Employees and employers agree that Problem Solving is a key success factor (more than 50 percent of respondents) however, employers also view Abiltiy to Work Underpressure, Work Ethic, Communication, Self-Direction/Self-Motivation, Teamwork and Time Management skills as critical as well, whereas working professionals find these skills less imperative to the job (fewer than 50 percent of respondents).

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The charts below give a detailed profile of Financial Services job seekers found on Monster including career experience, education level and work experience. Financial Services candidates found on Monster are typically mid-career with at least a bachelor‟s degree and more than five years of experience.

Career Talent Forty-seven percent of Financial Services job seekers in 2011 are mid-career. Twenty-nine percent are managers or above while 29 percent are emerging into today‟s workforce.

Education Talent Sixty-two percent of Financial Services job seekers in 2011 have at least a bachelor‟s degree. Twenty percent have an Associate degree or some-college.

Experienced Talent The majority (63 percent) of Financial Services job seekers have more than five years of work experience. The second largest group has two to five years of experience (20 percent).

Executive5%

Manager24%

Mid Career47%

Entry Level15%

Student9%

Career Level

Masters or Above19%

Bachelors43%

Associate/ Some-College

20%

High School10%

Certification-Vocational

3%

Education Level

More than 15 Years

10+ to 15 Years

7+ to 10 Years

5+ to 7 Years

2+ to 5 Years

1+ to 2 Years

Less than 1 Year

0% 5% 10% 15% 20% 25%

Years of Work Experience

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Job Search Conditions The primary reason Financial Services professionals are looking for a job is due to the layoffs that occurred and

continue to occur in the Financial Services sector.

The top four reasons Financial Services professionals are searching for a job include:

1. Layoffs occurring/occurred (24 percent)

2. Salary is not as desired (19 percent)

3. Seeking a career change (17 percent)

4. Limited or no potential for upward mobility (17 percent)

Factors less likely to drive candidates to look for a job were „relationship with a peer/manager‟, „graduation from school

or education program‟ and „healthcare benefits‟.

Candidates report that they are finding success in

meeting their expectations and requirements. Forty-two

percent are finding „Good‟ to „Excellent‟ conditions,

which is encouraging news in this rebounding sector.

Those respondents that reported „Average‟ to „Poor‟

conditions were asked “What makes it challenging

looking for a job”. The two primary reasons

professionals had a difficult time finding finance

positions were „getting an employer or recruiter to

contact them‟, „finding a job that matches what they

want (e.g., salary, locations, etc.)‟ and „too few jobs‟.

From Monster‟s recent survey to Financial Services

professionals, the majority of respondents (72 percent)

are most comfortable with going to online job boards to

search for opportunities and post their resume.

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Market Conditions The past year has been one of recovery for the Financial Services occupation. The most recent job postings and resume data, as well as recruiter and seeker surveys, show positive signs and hint at a 2011 with slow and unsteady growth as the occupation and economy continue to rebuild.

Market Overview After almost two decades of strong performance, the Financial Services market started to erode in late 2006 with the unraveling of subprime mortgages. The credit crunch quickly followed, leading to the collapse of the housing market, the stock market, and the credit market in the U.S. and globally. Financial service companies were in a dire position. Firms that were once thought to be infallible, including Lehman Brothers and American International Group, Inc., required government intervention or life-saving mergers, else faced bankruptcy or closure. Globally, governments intervened with over $1 trillion of debt and equity capital. In the U.S., 717 companies received government funds, totaling over 7% of the U.S. GDP.

1

Currently the news is more positive as Financial Services jobs are growing, profits are returning, and many expect the momentum to continue. As an executive at a financial services search firm stated regarding recent $1 million compensation packages: “…the thaw has come and we‟re in catch-up mode.” 2010 was the first full year of recovery; it will take several more to strategize and rebuild as new regulations are enacted, confidence is restored, and the economy slowly and sporadically improves.

2

Financial Services Industry Employment in the Financial Services sector has followed the industry turmoil. As seen below, in November 2010, there were 5.6 million Finance and Insurance workers in the U.S., down over 530,000 jobs since its peak of 6.2 million in November 2006. The segment had an unemployment rate of 6.3% in November 2010, down from its high point of 7.8% in March 2010.

3

1 Oliver Wyman’s “State of the Financial Services Industry 2010”

2 Schwartz, Nelson, D. “Wall St. Hiring in Anticipation of an Economic Recovery.” New York Times. 7/10/10.

3 U.S. Finance & Insurance Workers and Unemployment Rate; Bureau of Labor Statistics

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Financial Services Occupations The chart below shows key Financial Services occupations, including both Finance and Insurance roles, and their forecast into 2018. Rebuilding after years of decline, Finance and Insurance occupations are forecasted to rise 5% from 6.0 million in 2008 to 6.3 million in 2018. The first two roles, Bookkeeping, Accounting and Auditing Clerks and Accountants and Auditors, rank in the top twenty U.S. occupations adding the most new jobs over the next decade. They are estimated to grow by 212,400 and 279,400, respectively.

Two smaller Financial Services occupations, not listed above, are among the fastest growing in the nation. Financial Examiners are forecasted to grow 41% (+11,100 jobs) and Compliance Officers, except agriculture, construction, health and safety and transportation, are estimated to grow 31% (+80,800 jobs). Each of these jobs supports the growing need for tighter financial regulation. Besides increased regulation, other factors leading to expansion of the Financial Services market and related occupations include the growing population, an expanding older population with more retirement funds under management, an increase in financial services products, and the continued globalization of financial markets. Financial Services employment should expand along with the rebuilding of institutions and the economy. However, recovery could be unpredictable at times as companies face the challenges of being successful in the new economy. Over the next year hiring may continue to be conservative. In fact, a recent survey of more than 100 Financial Services recruiters and hiring managers at Monster were asked “How many finance positions do they intend to fill in the next six months” and “What percent of the finance positions they expect to fill are new openings vs. replacement positions”. A majority of those hiring in the next six months are filling a limited numbers of roles (65 percent plan to hire less than ten positions) and very limited new roles (51 percent plan that less than ten percent of positions will be new).

Key Financial Occupations 2008 2018 % Growth

Bookkeeping, Accounting & Auditing Clerks 2,063.8 2,276.2 +10%

Accountants and Auditors 1,290.6 1,570.0 +22%

Tellers 600.5 638.0 +6%

Financial Managers 539.3 580.5 +8%

Bill and Account Collectors 411.0 490.5 +19%

Loan Officers 327.8 360.9 +10%

Sales Agents, Financial Services 317.2 346.7 +9%

Financial Analysts 250.6 300.3 +20%

Personal Financial Advisors 208.4 271.2 +30%

TOTAL ALL FINANCE OCCUPATIONS 6,015.3 6,336.9 +5%

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Online Recruitment Trends The Monster Employment Index (MEI) is a leading indicator of labor market trends as it tracks online recruitment activity by location, occupation, and industry. As seen below, each of the three indices noted here (National, Business & Financial Operations; and Finance & Insurance) have reported relatively stable trends in 2010.

The Business & Financial Operations MEI follows job postings for occupations such as accountants, budget analysts, loan officers, and tax examiners. The index has gained 34 percent (+39 points) since its low point in July 2009.

The Business & Financial Operations trends are more positive than the National, as the U.S. MEI fell 3 percent (+4) in December while Business & Financial Operations rose 3% (+5) compared to a year ago.

The Finance & Insurance industry historically trails both the U.S. and Business & Financial Operations indices. Most recent results have been stable, though the December index dropped 6 percent (-3) from November and rose only 2 percent (+1) year-over-year. The index also hit its low point in July 2009.

The Monster Employment Index presents a monthly snapshot of employer online recruitment activity nationwide for 28 of the largest metro areas, and is generally regarded as a key indicator of demand in the labor market. The Index is based on a real-time review of millions of employer job opportunities culled from a large, representative selection of corporate career sites and job boards, including Monster. Using a baseline value of 100, the Index can be used to compare hiring trends across local markets and occupational groups. As such, a higher Index figure means stronger growth in online job availability.

Financial Services job postings within the Finance and Insurance sector across all major online job boards have reported positive expansion for the past seventeen consecutive months. The growth follows a difficult 2008 (postings down 15 percent) and first half of 2009 (postings down twenty percent) as a result of the economic and financial service turmoil. Most recently, job ads rose 26 percent in the fourth quarter following a 16 percent increase in the third quarter.

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Insurance Carriers

32%

Depository Institutions (Banking)

16%

Insurance Agents, Brokers, &

Service13%

Nondepository Institutions (Credit Agencies, Except

Banking)13%

Real Estate12%

Holding and Other Investment

Offices7%

Security and Commodity

Brokers7%

Finance & Insurance "New" Online Job Ads by Company Type, Jan '10 - Dec '10

Recruitment Activity On Monster, the vast majority (61 percent) of job postings from Finance and Insurance employers are provided by Insurance Carriers, Depository Institutions, and Insurance Agents, Brokers, and Service institutions. Insurance Carriers accounted for 32 percent of all Finance and Insurance job postings (Depository Institutions – 16 percent; and Insurance Agents, Brokers, and Service firms – 13 percent). The types of roles Finance and Insurance companies posted over the past year include roles primarily for Sales/Retail/Business Development (32%), Accounting/Finance/Insurance (20%), IT/Software Development (8%), and Customer Support/Client Care (8%).

Financial Services Job Postings by Category % Total Job Postings

Sales/Retail/Business Development 32%

Accounting/Finance/Insurance 20%

IT/Software Development 8%

Customer Support/Client Care 8%

Banking/Real Estate/Mortgage Professionals 6%

Administrative/Clerical 5%

Business/Strategic Management 3%

Medical/Health 3%

Marketing/Product 2%

Installation/Maintenance/Repair 2%

All Other 11%

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Hiring Conditions Monster recruiters surveyed indicate it takes time for recruiters to sort through the surplus of candidates and land ideal

employees. Nearly half (46 percent) of respondents expect opportunities to take an average of 31 to 60 days to fill a

position. Thirty-one percent anticipate it will take over 60 days and 23 percent plan for less than 30 days.

With the excess of candidates looking for work, it is no

surprise that recruiters are having a relatively easy time

finding qualified candidates. 72 percent of respondents

said their ability to find Financial Services candidates was

“Good” to “Excellent”.

Those few respondents that reported „Average‟ to „Poor‟

conditions were asked “What makes it hard to find

candidates”. The two primary reasons recruiters and hiring

managers had a difficult time recruiting for finance

positions were „an increased workload‟ and „insufficient

budget‟.

When looking at the challenges of the candidates

themselves, responses were few, but some hirers did note

there were „not enough candidates‟, „under qualified

candidates‟, and „compensation below candidate

expectations‟.

Recruiters noted the top five Finance sectors with planned hiring include:

1. Corporate Finance (43 percent)

2. Financial Planning (27 percent)

3. Insurance (17 percent)

4. Sales Agents (15 percent)

5. Investment Banking (14 percent)

From Monster‟s recent survey to Financial Services recruiters and hiring managers, most respondents (83 percent) are

most comfortable with going to online job boards to source candidates.

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Supply and Demand Analysis A comparison of Monster Job Seekers seeking employment in the Financial Services segment compared to the volume of job postings from Financial Services companies reveals higher supply of candidates than in other U.S. states in areas such as Texas, Georgia, Maryland, North Carolina, Florida, Ohio, and California denoted by the darker green areas in the map below. Recruitment for candidates in lighter green areas such as Maine, West Virginia, and Minnesota may be more competitive where the ratio of resumes per job posting is lower than in other areas nationwide.

The types of roles these candidates are seeking span a wide range of areas with the highest volume targeting Administrative/Clerical opportunities followed closely by Accounting/Finance/Insurance.

Financial Services Job Seekers by Category % Total Job Postings

Administrative/Clerical 16%

Accounting/Finance/Insurance 15%

Customer Support/Client Care 10%

Sales/Retail/Business Development 8%

Banking/Real Estate/Mortgage Professionals 6%

IT/Software Development 5%

Business/Strategic Management 5%

Human Resources 5%

Medical/Health 4%

Marketing/Product 3%

All Other 33%

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The remainder of this report will focus on key financial services professions and how supply and demand measures up when recruiting for this multifaceted talent pool.

The supply and demand for Financial Analysts/Advisors and Accountants/Auditors lead activity for this sector with nearly half of job seeker and recruiter activity for this segment. Twenty-six percent of the talent pool and twenty-one percent of opportunities are for Financial Analysts/Advisors. Twenty-two percent of the talent pool and twenty-six percent of opportunities are for Accountants/Auditors. There may be a slight advantage towards hiring Financial Analysts/Advisors.

Listed below are the top 20 out of over 200 Financial Services job titles in which job seekers are interested. These 20

job titles accounted for fifty-nine percent of the Financial Services talent.

# Job Titles (1-10) # Job Titles (11-20)

1 Financial Analyst 11 Teller

2 Accountant 12 Reserves Analyst

3 Staff Accountant 13 Accounting Manager

4 Call Center Representative - Financial Services 14 Financial Analyst - Operations

5 Accounting Clerk 15 Business Manager

6 Bookkeeper 16 Sr. Financial Analyst

7 Controller 17 Accounting Clerk III

8 Medical Billing Clerk 18 Finance Manager

9 Sr. Accountant 19 Accounts Receivable/Payable Clerk

10 Accounts Payable Clerk 20 Accounts Receivable Clerk

Job S

eekers

Em

plo

yers 1. Accountants and Auditors, 26%

2. Financial Analysts/Advisors, 21%

3. Financial Managers, 16%

4. Bookkeeping, Accounting, and

Auditing Clerks, 11%

5. Bill and Account Collectors,6%

6. Loan Counselors and Officers, 4%

7. Tax Examiners, Collectors, and

Revenue Agents, 4%

8. Billing and Posting Clerks and

Machine Operators, 3%

9. Payroll/Timekeeping Clerks, 3%

10. Financial Specialists (Other), 2%

● ● ●

1. Financial Analysts/Advisors,26%

2. Accountants and Auditors, 22%

3. Bookkeeping, Accounting, and

Auditing Clerks, 15%

4. Financial Managers, 14%

5. Bill and Account Collectors,6%

6. Loan Counselors and Officers, 3%

7. Tellers, 3%

8. Billing and Posting Clerks and

Machine Operators, 2%

9. Payroll/Timekeeping Clerks, 2%

10. Financial Specialists (Other), 2%

● ● ●

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In reviewing the top 20 Financial Services job titles posted on Monster.com from January 2010 to December 2010, a majority were for Accountant roles. The top 20 (out of more than 200 titles) specific Financial Services job titles are listed below and account for fifty-two percent of the Financial Services opportunities:

# Job Titles (1-10) # Job Titles (11-20)

1 Sr. Accountant 11 Medical Billing Clerk

2 Financial Analyst 12 Accounts Receivable Clerk

3 Staff Accountant 13 Tax Manager

4 Accounts Payable Clerk 14 Auditor

5 Accountant 15 Underwriting Profits Supervisor

6 Sr. Financial Analyst 16 Finance Manager

7 Accounting Manager 17 Payroll Clerk

8 Controller 18 Assistant Controller

9 Accounting Clerk 19 Sr. Tax Accountant

10 Bookkeeper 20 Credit Card Collections Specialist

Labor Performance Matrix The Labor Performance Matrix below and on the next page compares job posting and resume performance within the Accounting occupation clusters. The size of the circle represents the supply, based on the ratio of resumes per job from January 2010 through December 2010. A large circle indicates a large pool of talent in comparison to the demand, and a smaller circle represents areas where the demand may outweigh the supply.

How to Read the Matrix: Talent Surplus Not enough jobs to match supply Plan for increased volume of candidates Focus on skills migration Incubator Opportunities (Growth Areas) High growth potential High Performance High growth in jobs and talent Focus on keeping talent Talent Shortage Not enough talent to meet demand At risk for competition

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Talent Surplus

Bookkeeping Clerks is the only occupation in the Talent Surplus quadrant when compared to other Financial Services

occupations, showing less job opportunities to meet job seeker needs. Recruiters need to plan for additional time and

resources to help screen increased volumes of candidates and could consider retraining or other workplace

development programs to ensure the surplus of candidates are put to work.

Incubator Opportunities (Growth Areas)

The growth occupations span a wide range of Financial Services occupations. These areas are prime for candidate

and/or job opportunity expansion.

High Performance

There are three occupations in the high performance quadrant: Financial Analysts and Advisors, Accountants and

Auditors, and Financial Managers. There is an ample supply of both job postings and seeker resumes for these

occupations.

Talent Shortage

There are no occupations in the Talent Shortage area, showing the current surplus of talent – and lack of job

opportunities - in the Financial Services sector.

The matrix below summarizes occupational supply and demand from January 2010 through December 2010.

Talent Surplus High Performance Zone

Talent Shortage Incubator Zone

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In the following analysis, we compare talent demand (job postings) with talent supply (resumes) across a range of characteristics for key Financial Services occupations. The comparisons reveal the similarities and disparities between the available jobs and the searching seekers. This analysis provides direction for recruiters and employers in setting their expectations and development areas.

Career Level Financial Services recruiters are primarily seeking Experienced, non-managers candidates. A steep 89 percent of job postings are for mid-career talent compared with 47percent of available talent. Due to this imbalance, recruiters might have to be flexible in their experience requirement, either finding under or over-qualified candidates.

Education Level The Financial Services talent supply pool is fairly diversified while a vast majority of job postings (73 percent) are looking for candidates with at most a Bachelor‟s Degree. As there are only 43 percent of candidates with at most a Bachelor‟s Degree, many candidates will either be under or over-qualified, which could lead to frustration for both recruiters and seekers.

Experience level Similar to the other metrics, candidates are spread among the categories while job postings are relatively y concentrated. A high 41 percent of job opportunities are for candidates with 2 to 5 years of experience compared to the 20 percent of available seekers. Some recruiters will need to settle on candidates with more years of experience than desired which may lead to higher compensation for talent.

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Job Type Requirements While Financial Services job opportunities are primarily for permanent roles (68 percent), a much larger share (81 percent) of job seekers desires this type of work. The remaining 32 percent of job postings are for temporary/contract work; this relatively high percentage indicates companies are hiring cautiously as the industry and economy recover. Recruiters will most likely be encouraging candidates to settle for temporary/contract roles rather than their desired permanent role.

Job Status Requirements Ninety-eight percent of job postings are for full-time employment and only 2 percent for part-time, while 83 percent of candidates are open to full-time employment and 16 percent for either. Employers should have an ample pool of talent to meet their needs within these criteria.

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Qualifications and Benefits As employers look through reams of resumes, the most important qualifications Financial Services professionals place the greatest importance on when applying for opportunities is years of work experience (73 percent) and type(s) of work experience (70 percent) followed by soft skills/business knowledge. Recruiters on the other hand value education when filtering through Financial Services candidates. When asked “What were the most important qualifications in recruiting accounting talent”, hirers responded education (71 percent) and advanced degree (68 percent) followed closely by examples of work and soft skills/business knowledge.

Listed below are the most important factors Financial Services professionals consider when evaluating a job opportunity. Note that these characteristics have been influenced by the recessionary economy and corporate scandals over the past few years, as „stability of position‟ and „company‟s reputation‟ rank in second and third, respectively. Recruiters were also asked how they would rate the same list of factors in terms of their importance to recruiting talent. The top three items were the same, though ordered: salary, company‟s reputation, and stability of position.

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Compensation Compensation expectations for recruiters and candidates are in fairly close alignment giving encouragement that recruiters can easily satisfy a potential recruit‟s salary expectations. The median salary offered in 2010 was $64,000 and the median salary candidates were seeking was $50,000. (Please note these salary requirements may represent total compensation for some job seekers and only a base salary for others.) The majority (fifty-two percent) of Financial Services job postings on Monster offer a salary ranging from $20-60,000 (twenty-eight percent, $20-40,000; twenty-three percent, $40-60,000). Similarly, most (sixty-five percent) job seekers expect to earn between $20-60,000 (thirty-two percent, $20-40,000; thirty-two percent, $40-60,000). The most significant disparity is at $60,000, where a higher percentage of recruiters offer greater salaries than candidates are requiring. Sixty-seven percent of Financial Services job seekers expect to earn less than $60,000 though only fifty-three percent of employers plan to offer less than $60,000.

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Diversify Your Recruitment Strategy in 2011

As the nation emerges Recruiters should keep in mind the following points when planning for the next 12-months.

Network to strengthen your brand: Networking has always been a fundamental aspect of establishing a presence

and sourcing candidates. Today's recruiters must actively network across the Internet to get a more holistic view of the

applicant. With Monster’s 20 network communities integrated into its core site, experts are better able to help individuals

access advice from industry experts and keep on top of trends. These communities also offer employers access to a

pool of targeted candidates.

Play a smart matching game. Have processes and paper work in place, be diligent about screening, and communicate

frequently with hiring managers. Many recruiters are using technology to help quickly match candidates to jobs and

eliminate unqualified applicants. Monster’s semantic 6Sense™ search technology powers our Power Resume Search

application, sorting and ranking candidates so the best are at the top. Using these types of sorting programs, recruiters

save time and money sourcing candidates that precisely match their positions.

Spend accordingly. As budget managers remain cautious, leverage as many benefits as possible that attract and

retain employees yet require minimal investment. Keep on top of what is most important to job seekers by leveraging

Monster’s free online resources at the Resource Center (http://hiring.monster.com.) The site offers actionable reports

and webinars covering the most current issues facing not only job seekers, but recruiters as well.

Monster intelligence As the premier digital employment solution, Monster has consistently maintained a leadership position in defining and driving innovative products and services to champion digital recruitment. We see tremendous value in providing our clients, the online recruitment industry, and the public at large with analysis on both job seeker and employer behaviors, as well as general employment market trends. In direct response to our customers‟ needs for strategic human capital intelligence, Monster created an initiative, entitled Monster Intelligence, that is focused on providing business leaders and HR Executives real-time insight into market trends that will guide them in future recruitment planning. As a market leader, Monster is uniquely positioned to provide strategic information on employment trends to Corporate Executives and Hiring Managers. These tools provide our customers with views into the labor market and comprehensive information to further their employment strategy. More details are available at the Monster Resource Center at: http://hiring.monster.com/hr/hr-best-practices.aspx. We welcome your insight and comments on the monster intelligence reports and encourage you to let us know your thoughts by providing feedback at [email protected] Monster is the primary source of information for this report; it should only be interpreted as a definitive activity report on Monster and its subsidiaries. Monster‟s in-depth data-driven approach improves on typical survey-based methodologies by dramatically increasing the depth and breadth of information collected as well as by capturing actual behavior rather than intended behavior. Data is current through December, 2010 unless otherwise indicated.

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