Competition Intensifies for Tech Talent in US Financial Services Market
DHI Group, announced today that eFinancialCareers, the trusted specialist financial services platform, has released The Financial Services Tech Job Report as it celebrates its 20-year anniversary. The report analyzes technology job postings from financial services organizations across the first seven months of 2020 and includes the fastest growing locations, employers, occupations and skills for three of the primary global financial markets: United States, United Kingdom and Singapore. In sharing these insights, eFinancialCareers is proud to lead the finance-tech recruitment space by partnering with the world’s most respected financial organizations to provide unique industry insights and efficiently place best-in-class professionals.
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Globally, technology professionals have been a top hiring priority for all major financial services organizations in recent years. In the US, financial services tech hiring in early 2020 trended positively, with most cities hiring above 2019 volume. As COVID-19 spread, the pandemic understandably created uncertainty, causing employers to slow their immediate hiring needs. However, despite the far-reaching effects of the pandemic, including a closed economy, the data indicates areas of year-on-year positivity in several US cities and prominent tech occupations.
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Desired Occupations & Skills Speak to Upcoming Competition for Talent
Throughout 2020 thus far, software developer, business analyst, application developer, senior software developer and systems engineer all topped the list for the most sought-after occupations. A wide range of occupations ranking at the top of the list suggests that employers are maintaining focus on their product development roadmaps, as well as maintaining systems and infrastructure.
“US financial institutions have had to prioritize positions they considered most vital to their organization amidst the uncertainty of 2020, especially to support teams that historically have less experience working remotely. Since employees are now settled into remote work or planning a return to office, the range of positions in demand has expanded, speaking to the innovation and competition taking place in the financial sector as the demand for technologists continues to increase,” said Art Zeile, CEO of DHI Group, parent company of eFinancialCareers.
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