This press release was orginally distributed by SBWire
London, UK -- (SBWIRE) -- 11/29/2022 -- 2022-23 is a great time to work in the financial sector, as recent figures suggest that median pay in the industry is high - and getting higher. £3.5k a month median pay comes in significantly above the UK average of £2k a month. However, this is just a drop in the ocean in many financial sector jobs where the monthly pay is actually many multiples of this. Given the positive pay figures that already exist - alongside the rises that are forecast - it's clearly a good time to work in the finance jobs market. This would suggest that anyone working in finance is particularly well placed to cope with inflation and the forecast recession.
However, there are also challenges inherent in the state of the financial jobs market today - in particular for those who are not yet in it or who are looking for new roles. The latest figures from the Office for National Statistics show that pay is increasing across the financial sector - but also that new jobs are not. The figures cover the whole of the financial services industry, including retail and wholesale banking. Brand new roles are not as plentiful in the financial sector as in other industries, according to these figures. However, that's not to say that the financial sector is shrinking or that jobs are disappearing, as they are in other sectors such as construction. In fact, in July this year, the financial sector had 25,000 more employees compared to the same month in 2021. The figures indicate that the financial sector simply isn't creating as many brand-new roles as other industries like information and communication (where three times the number of new jobs were created in the same time period). There are lots of influential factors to bear in mind here, such as demand for IT roles and the post-pandemic resurgence of industries like food services (where the highest number of jobs was created). The reality is that a wealth of opportunities exist for those seeking to tap into booming pay in finance jobs - and these are open to the right talent.
[How the company does something relevant to the topic] Data and insight are a crucial part of the service that Leathwaite provides, delivering market knowledge and understanding that drives better decision making. There are multiple factors affecting the finance jobs market today and any true perspective on the opportunities that exist needs to take these into account. With specific data products designed to help focus on areas of interest, business plans or industries, Leathwaite can better support clients in taking an important next step. Those products include a Leathwaite market analysis project (MAP) or Individual Due Diligence report. A MAP is a comprehensive, precise document that supports better informed and risk-weighted strategic decisions while Due Diligence reports offer independent assurance on specific criteria, such as management capability or technical ability. Both support empowered decisions that are data-driven.
[How the company carries out the particular service/product]. Finding the right financial officers can make or break a business - these roles really matter, which is why Leathwaite has made supporting them a priority since the firm was first established in 1999. Highly talented CFOs and finance leaders are transformative, as they can influence everything, from revenue growth to cost management. The team at Leathwaite has access to an extensive global network when it comes to connecting CFOs and boards with the best possible finance talent drawn from all over the world. Extensive experience means that the team understands how the "right" person is going to vary from industry to industry and according to the size and nature of the business. The team at Leathwaite has successfully partnered with organisations from innovative industry disruptors to international companies, always finding the right finance leadership and officers for each. The practice tends to focus on three specific areas when it comes to financial recruitment: Chief Financial Officers, Divisional Leaders (such as Finance Directors and Heads of Financial Control) as well as specialist leaders in vital areas like tax and investor relations. There is no common solution for each but the firm's bespoke approach ensures that productive connections are always being made.
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As the world's leading executive search firm for corporate functions, Leathwaite deliver an interconnected range of talent, business intelligence and advisory services from our strategically placed global offices.
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