Is financial services the right career choice for recent college graduates?
By Jeffery Hoyle
Emphasis Marketing & Communications
Trevor Ferguson is a recent college graduate armed with his Bachelor of Science in Business Administration with an emphasis in Finance, Trevor is ready to take the financial services world by storm. But are his career aspirations realistic in today’s unstable economy?
In a recent survey conducted by OneNote®, one of the nation’s premier job search websites catering to the financial services industry, 48.5 percent of the 500 individuals surveyed recommended graduates look into other professions. However, 51.5 percent said they thought a career in financial services was a great choice for those new to the work world. This split was fairly even, considering the changes in the industry over the last few years.
"The results of the candidate survey were fascinating, indicating that half of current financial services candidates would recommend that new graduates avoid entering the field," said Brin McCagg, president and COO of OneWire.
The largest percentage that was against a financial services career (40.6 percent) cited instability in the market as their primary reason for their point of view. Next on the cons list was interpretation in the consumer market. Many (21.1 percent) felt that the industry still had somewhat of a stigma attached to it that would be a negative to new job seekers. A decrease in compensation schedules was the next reason given for not entering into the business. And an increase in regulation was given as the final reason in the survey.
Still, a slightly larger percentage felt that a career in the financial services realm could be beneficial both as a profession and as an income generator.
And what of our eager college graduate Trevor? Well, at present, he is set to start at a local brokerage house to begin the career of his dreams. Will success follow? Only time will tell, so stay tuned. You might be hearing about this kid someday.