NEW YORK, NY--(Marketwire -06/25/12)- OneWire®, where finance professionals get hired, today revealed results of its May 2012 candidate survey, which asked financial services professionals about their views of the industry and its potential for recent college graduates.
The survey asked nearly 500 jobseekers in the financial services industry if they would encourage recent college graduates to enter the field, given the numerous changes in the industry over the last few years. Respondents were evenly split in their answers, with 51.5 percent saying they would recommend graduates join the industry and 48.5 percent advising them against doing so.
The 48.5 percent who responded negatively to this question were then asked a follow-up question about the biggest determinant of their answer. A plurality of respondents (40.6 percent) cited lack of job stability as the main reason for why graduates should not enter the financial services industry. More than one-fifth (21.1 percent) suggested the changed perception of the industry as their determining factor. Additionally, respondents indicated decreased compensation (14.5 percent) and increased regulation (10.1 percent) as their reasons for advising graduates against looking for jobs in the industry.
The 13.7 percent of respondents who selected "Other" were asked to provide a specific answer. While several suggested their reasoning was based on "all of the above," other answers put forth the competitive nature of the industry due to decreased hiring and the outsourcing of jobs overseas. Other answers included a lack of work-life balance, fewer opportunities for mobility and the risky nature of the industry.
"The results of the candidate survey were fascinating, indicating that half of current financial services candidates would recommend that new graduates avoid entering the field," said Brin McCagg, president and COO of OneWire. "As the leading reason is due to lack of job stability, it is clear that the effects of the economic crisis still resonate and have created the perception of volatility in the financial services job market. OneWire aims to improve this perception by ensuring financial professionals are matched to companies and positions for which they are most qualified."
OneWire is the premier destination for employers to connect with high quality finance talent. Employers use OneWire to source and recruit top finance candidates, and hundreds of thousands of job seekers use OneWire to get matched to relevant job opportunities and connect directly with hiring companies. OneWire's suite of cutting-edge sourcing tools and powerful matching technology help top financial firms, Fortune 500, and Global 2000 companies to attract, target, and hire the right finance talent. Candidates create detailed, confidential OneWire Profiles, which provide them with complete control and visibility throughout their job search. Our clients know that the right talent is a company's greatest asset. Hire the right finance talent, faster, on OneWire. Learn more at www.onewire.com.