Jobs in Demand Right Now
With all the talk of layoffs, recession and companies filing for bankruptcy, which professions are still in demand? Demand for the jobs below continues to remain strong, even during a struggling economy.
Government
The Obama administration has made government jobs hot again, with would-be job seekers flocking to the nation’s capital in droves. The government is looking to fill hundreds of thousands of jobs in almost every division from the Department of Homeland Security to the Internal Revenue Service. Eighty percent of these positions fall into five categories: security, protection, compliance and enforcement; medical and public health; accounting, budget and business; engineering and sciences; and program management/analysis and administration.
For more information, visit:
whitehouse.gov
usajobs.gov
Personal Financial Advisors
Personal financial advisors are projected to be among the 10 fastest-growing occupations. The job entails helping clients achieve long-term financial goals. Initial years in the role are primarily spent building a client book through cold-calling, networking and personal relationships. Once a book of business is established, a financial advisor retains clients by providing sound advice in an array of topics, from saving for retirement (e.g. mutual funds, 401K, etc.) to life insurance.
Potential firms hiring include Edward Jones, Northwestern Mutual and AXA Financial Advisors.
Financial Analysts
Strong financial statement analysis, valuation and financial modeling skills continue to be in demand for valuation, accounting and consulting firms, investment banks, private equity groups and many other financial firms. Even in a down economy with less deal activity, these skills are required for projects that entail analyzing stocks, industries and pitching for potential work.
Click here to learn how to build Earnings Projection, DCF and LBO models from scratch.
Employers regularly cite Excel proficiency among the most desired skills for junior finance professionals. The ability to use Excel to manage data and analyze information continues to be in demand. Beyond the basic functions, Excel has many advanced tools to accomplish this, including macros and sensitivity and “what-if” analysis tools.
Click here to learn advanced Microsoft Excel functions.
Technology
IT executives polled separately by IT staffing and consultancy firm Robert Half Technology and staffing firm Bluewolf revealed that the need for specific IT skills doesn’t lessen because the economy is bad.
Desktop support, network and Windows administration, database management, telecommunications support and wireless network management were considered the hottest areas according to the above polls.
Web site design and development skills were also cited as being in demand. For many positions, including some quantitative finance jobs, programming skills (e.g. C, C++, etc.) are desirable.
Sales
Companies still tend to look for great employees that can generate revenue, even in a slow economy. It is one of the areas many companies continue to invest in even as they scale back in other areas. According to CareerBuilder.com, there are currently more than 100,000 sales positions advertised on its web site.
Sales skills are often – though not always – transferable across industries. Employers tend to favor sales reps with industry-specific experience for the sale of highly technical products. For less technical industries, if you excel at developing relationships and generating commissions, you can probably apply those skills to another firm or industry.
Green Jobs
The growing attention to and the adoption of new alternative energies, such as wind and solar power, is propelling job growth in this industry. Engineers are not the only ones benefiting from industry growth. Those with job skills ranging from accounting to project management are being hired to help firms adopt new green initiatives, including carbon emissions reduction, and create more environmentally-friendly products.
Restructuring
A combination of the credit crunch and a recessionary economy has led thousands of companies to file for Chapter 11 bankruptcy. As a result, demand for these skills has surged in the past year. In anticipation of the surge, many companies have established restructuring practices or beefed up existing practices. These companies represent lenders and borrowers in Chapter 11 reorganizations.
Are your skills still in demand? Consider taking some time during this downturn to retool and acquire new skills. Take steps to strategically re-position yourself for when the market rebounds.
As usual, Bankingorbust, LLC is here to help you through this tough period. Our team has compiled valuable resources to help you find and succeed at a job in investment banking.
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