8 Fastest Growing Financial Services Jobs: 2014

ThinkAdvisor parses BLS data to find out where the hiring is likely to be through 2022—with good news for financial advisors

Most of the jobs, surprisingly, from BLS’ predictions just two years have lower growth estimates. Most of the jobs, surprisingly, from BLS’ predictions just two years have lower growth estimates.

For those looking for a job opportunities in the financial services sector, the Bureau of Labor Statistics has data that can help you decide what type of job has the best prospects.

We last looked at the sector in 2012 when the BLS released 10-year forecasts for jobs based on 2010 data. This year, the agency updated its forecasts to reflect 2012 numbers.

About half the jobs in the category will keep pace with or outstrip the economy as a whole, which is expected to create about 11% more jobs from 2012 to 2022. One occupation, insurance underwriter, is forecast to contract.

But, and this might be suprising considering the economy is stronger now, the new BLS forecast is lower than its estimates from two years earlier. Only one even equaled the earlier prognostication.

(Related ThinkAdvisor story: Top 10 Best Jobs of the Future: 2014)

Here then are the financial services jobs grouped by the BLS and ranked from lowest projected job growth through 2022 to highest.

New Jersey home damaged by Hurricane Sandy. (Photo: AP)

8. Insurance Underwriters

Employment change 2012-22: minus 6% (plus 6% forecast for 2010-20, from BLS’ 2010 prediction)

2012 Annual Median Pay: $62,870 

Education: Bachelor’s degree

Number holding job: 106,300

The outlook has grown markedly worse for this occupation and the reason is laid at the feet of automation. Fans of “Mad Men” won’t be surprised that computers are gobbling up jobs.

Budget Analysts 

7. Budget Analysts

Employment change 2012-22: 6% (10%)

2012 Annual Median Pay: $69,280

Education: Bachelor’s degree

Number holding job: 61,700

While budget analysts will be needed to provide their expertise to a complex task, government spending constraints will keep expansion is this occupation below that of the overall economy.

Financial Managers 

6. Financial Managers

Employment change 2012-22: 9% (9%)

2012 Annual Median Pay: $109,740

Education: Bachelor’s degree

Number holding job: 532,100

Although growth is expected, the competition will be stiff. Those with a Master’s degree might have an edge.

Insurance Sales Agents

5. Insurance Sales Agents

Employment change 2012-22: 10% (22%)

2012 Annual Median Pay: $48,150

Education: High school diploma or equivalent

Number holding job: 443,400

The BLS says changes in federal law could create even higher demand for agents needed to sell health and long-term care and health insurance.

Real Estate Brokers and Sales Agents (Photo: AP)

4 (tie). Real Estate Brokers and Sales Agents

Employment change 2012-22: 11% (11%)

2012 Annual Median Pay: $41,990

Education: High school diploma or equivalent

Number holding job: 422,100

The recovery of the real estate market after the bursting of the housing bubble in 2008 bodes well for those who want to help others find a place to live.

Traders at their post on the floor of the NYSE. (Photo: AP)

4 (tie). Securities, Commodities and Financial Services Sales Agents

Employment change 2012-22: 11% (15%)

2012 Annual Median Pay: $71,120 

Education: Bachelor’s degree

Number holding job: 354,600

The growth of investment banking means there’ll be an opportunity for jobs. They’ll also be plenty of competition, so an advanced degree and certification will be helpful.

Financial Analysts

2. Financial Analysts

Employment change 2012-22: 16% (23%)

2012 Annual Median Pay: $76,950

Education: Bachelor’s degree

Number holding job: 253,000

Growth in the number of financial products and knowledge of geographic regions and their investment prospects will cause an above average increase in positions.

Personal Financial Advisors 

1. Personal Financial Advisors

Employment change 2012-22: 27% (32%)

2012 Annual Median Pay: $67,520 

Education: Bachelor’s degree

Number holding job: 223,400

An aging population and longer life spans make this the fastest growing occupation among financial services jobs.

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