Believe it or not, finance jobs are making a comeback. But the geography for job opportunities in the field has shifted. New York is no longer the best place to find a job in finance -- San Francisco has taken the top spot, according to a new study.
Recent data from the Bureau of Labor Statistics has revealed signs of a potential turnaround in the financial services sector, and the number of finance-related positions in the U.S. started to gain momentum in March and April after monthlong declines and volatility in the sector. On the heels of this trend, Accounting Principals, an accounting and finance staffing provider, has identified the top seven cities to find a job in finance today. The list is based on internal data from its branches around the country, and takes into account the volume of job openings in the past quarter.
San Francisco came in on top due to a variety of factors, including the city's proximity to Silicon Valley, its large venture capitalist community and the fact that it has one of the highest concentrations of Fortune 500 companies in the U.S.
In particular, the growth of the technology sector in Northern California has caused a hiring ripple effect in the region, allowing other sectors -- such as financial services -- to benefit from the growth. Among the jobs most in-demand for full-time employment in the area are finance managers, assistant controllers, controllers, and accounting managers. Someone has to keep track of all the money that all those techies are making.
Coming in second for finance jobs was Denver, a city that's seen job growth in the financial sector due to the region's many booming oil and gas companies and improving manufacturing sector. While a variety of financial services positions are available in the region, there's a strong need for certified talent in the area, including professionals with CPAs, CTPs and MBAs. The war for talent for these professionals is heating up and the most in-demand candidates will be those with experience and skill sets in the areas of taxes, cost accounting, treasury, and renewable energy finance.
San Francisco and Denver are followed in order by Paramus, N.J.; Chicago; Portland, Ore.; Nashville, Tenn.; and Miami."Many of the top candidates in these cities are now seeing multiple offers from multiple employers," said Janette Marx, senior vice president of Accounting Principals. "This presents a stark difference from the employment landscape just a year ago.
"Given that finance and accounting positions are not directly revenue-generating positions like sales," she said, "an uptick in demand for these professionals indicates that businesses are starting to grow again and they have increased confidence in the economy."
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