How many jobs are available in finance in 2023 | Stats

Though the finance industry is regarded as the pillar of global business, many people tend to wonder how many jobs are available in finance.

By attracting people looking for challenging and fulfilling employment, the finance industry has a lot of employment opportunities.

This is because of its wide range of career pathways and prospects, addressing the question of how many jobs are available in finance.

This article explains how many jobs are available in finance, how to get them and also why the finance industry is the fastest growing industry today. Keep reading to learn.

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How many jobs are available in finance?

The Bureau of Labor Statistics estimates that in the year 2023, there are about 95,000 jobs available in the financial industry, reflecting the question of how many jobs are available in finance.

The finance industry is witnessing rapid expansion and is poised to continue doing so in the years to come, indicating a promising job market.

Finding the appropriate match is crucial for achieving professional success within the finance industry because there is a wide array of distinct employment options available.

Whether you choose to work for an investment bank, a large corporation, the government, or academia, the finance industry offers diverse avenues for career growth.

As for the future of those working in finance, job prospects tend to improve with experience, although the outlook may vary depending on the specific position held.

In terms of geographical distribution, California, Texas, New York, and Florida emerge as the top five states for employment in the financial sector, with each state witnessing the employment of over 100,000 individuals at some point in 2023.

Furthermore, on a global scale, financial management or insurance firms employ approximately 1 million people, underscoring the magnitude of employment opportunities in the finance industry.

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Why The Finance Industry Is the Fastest Growing Industry

The labor market has a perpetual need for financial professionals, highlighting the ongoing query of how many jobs are available in finance.

The financial sector has consistently shown strong growth and adaptability in the face of shifting economic conditions. 

The financial sector is anticipated to keep growing in 2023, based on numerous publications and market analyses. 

The constant need for finance professionals is fueled by elements including technological development, regulatory shifts, and growing economic interconnectedness on a worldwide scale.

In a highly regulated industry, there is a need for those who can work with numbers and are knowledgeable about the most recent legislation.

The current economic condition has a huge impact on both the need for financial specialists and the amount of work they complete.

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Statistics of some finance jobs in 2023

1.Financial Analysts

When assessing investment prospects, doing financial research, and offering insights for decision-making, financial analysts play a crucial role. From 2022 to 2023, the Bureau of Labor Statistics (BLS) forecasts a 5% growth in employment for financial analysts. 

This corresponds to almost 24,000 brand-new job openings in only the United States.

2. Accountants and Auditors

Maintaining financial records, ensuring compliance, and evaluating financial data are all tasks that require the expertise of accountants and auditors. 

In the same time period, the BLS projects a 4% growth rate for these positions, creating an anticipated 61,700 new job vacancies.

3. Financial Managers

Risk management, investment strategies, and financial planning are all within the control of financial managers in corporations. 

By 2023, the BLS projects that there will be about 104,700 new job openings in the field of financial managers, a 15% growth rate.

4. Personal Financial Advisors

Individuals and families can get advice from personal financial advisors on investing, retirement planning, and asset management. 

The BLS predicts a phenomenal 15% growth rate in this industry, creating about 32,400 new job opportunities.

5. Financial Technology (Fintech) Professionals

The need for fintech expertise is growing as financial technology advances quickly. 

These people are experts in fields including data analytics, blockchain, cybersecurity, and electronic payments. 

Fintech employment growth statistics for 2023 may vary, but numerous reports point to a favorable trend and substantial demand for these positions around the world.

6. Tax Associates

Tax associates assist both individuals and corporations with the documentation and preparation of their federal and state income taxes. 

The majority of these professionals, also known as tax preparers or tax specialists, are employed by accounting and financial services companies, while some work independently. 

Tax associates are responsible for preparing and submitting tax returns and other related paperwork.

By 2023 to 2030, it is expected to increase by 6%.

7. Equity Research Analyst

To produce reports for investors, an equity research analyst investigates publicly traded companies. 

They assist investors in making wiser stock market judgments by utilizing their financial skills. 

For the purpose of assisting investors in making wiser selections, equity research experts produce studies about various businesses and industries. 

They assist investors in making wiser stock market judgments by utilizing their financial skills.

By 2023 – 2030, it is expected to grow an average of 6%.

8. Investment Banking Analyst

By accumulating market research and building financial models, an investment banking analyst participates in initial public offers (IPOs) and follow-on offerings. 

To determine whether a company is a good candidate for an IPO, they also simulate the financial results of the business. 

An analyst’s job is to investigate businesses and markets in order to find investment opportunities.

The BLS estimates an increase of 4.2% from 2023 – 2030

Some emerging finance jobs in 2023

There are always new employment chances opening up as the finance sector develops. 

Impact Investing, cryptocurrencies, financial consultancy, and sustainable finance are a few of the significant sectors anticipated to rise in 2023. 

In the advancing financial industry, these growing jobs offer interesting opportunities to those who are wondering how many jobs are available in finance.

Skills and Qualifications in Demand for finance jobs in 2023

Employers place a high value on particular talents and qualifications in order to succeed in the competitive financial job market. 

These include a solid grounding in financial analysis, data analytics, familiarity with regulatory frameworks, competence with financial tools and software.

An individual curious about how many jobs are available in finance should possess essential skills such as strong communication and problem-solving abilities.

The possibilities for employment in finance can also be greatly improved by credentials like Certified Financial Analyst (CFA), Certified Public Accountant (CPA), and Chartered Financial Analyst (CFA).

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FAQs

Conclusion 

For individuals with the necessary skills and certifications and want to know how many jobs are available in finance, the financial sector is expected to increase in 2023 and present a wide range of employment prospects. 

Finding how many jobs are available in finance can be determined by referring to industry reports, labor market data, and job listings specific to the finance sector.

Those also contemplating a career in finance should anticipate a promising employment market due to strong growth estimates in industries like financial analysis, accounting, financial management, and personal financial counseling. 

In addition, those who are versatile and accept technology changes may find interesting career opportunities with the rise of fintech and other cutting-edge sectors.

References 

• Gcu.edu – how many jobs are available in finance?
• Indeed.com – How many jobs are available in finance?

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