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Hiring Trend: Administrative Professionals in the Banking/Finance Industry

As the year comes to a close and we look back on the past four quarters, many employers—including both our clients and industry specialists—are taking the time to assess hiring trends of the past and future. One of the trends that picked up in 2014, and is expected to proceed well into 2015 and beyond, is the need for administrative professionals in the banking and finance industry.

Year over year, our recruiters have seen a 78% increase in job orders for administrative professionals with a number of our banking and financial services clients. “Specifically, we are seeing an influx of temporary roles for Administrative Assistants, Executive Assistants, and beyond,” says Erica St. Pierre, Director of Corporate Accounts at The Execu|Search Group. “As demand is rising, there doesn’t seem to be enough supply to meet it, although there are multiple benefits to working in one of these roles.”

Specifically, administrative professionals employed in banks and financial services firms can enjoy such benefits as:

  • Great work-life balance
  • Internal mobility and room for career growth
  • Exposure to high-level executives
  • The opportunity to sit in on high profile meetings with business leaders

This is especially the case in temporary assignments; many organizations are hiring employees for temporary-to-permanent roles  for a variety of different reasons, which include having the abilities to assess an employee’s cultural fit with the organization and their abilities to complete the task at hand. For the right candidates, these positions can often result in a long-term placement, and offer a foot in the door for those looking to break into the industry.

New grads with degrees in economics, finance, business, marketing, or another related discipline can use these temporary roles to break into the financial services industry, while those with prior experience in the field can sharpen their skill set and possibly secure a longer-term opportunity. Those with tangential experience in a corporate setting can often segue their skills and experiences into one of these roles in order to achieve greater growth potential and upward mobility.

“Many make the mistake of believing that they need to be analysts or traders in order to qualify for these roles, but you don’t necessarily need to be an expert with numbers or have a prior understanding of market trends,” says Jaimee Cascione, Director of The Execu|Search Group’s Office Support division. “A driven administrative professional with notable experience in the support function would excel in any industry, including financial services. To be successful in the financial space, you do not need to come in with industry knowledge, but more so the knowledge of how to provide unparalleled support to an executive or team..”