Hiring in Financial Services Expected to Rise in 2008

Half of financial services firms plan to increase professional hiring in 2008.

Less than one-third (29%) of financial firms planned on flat hiring and only 19% expected lower hiring in 2008, according to the “2008 Financial Services Talent Acquisition Survey” by Claymore Partners, an executive search and consulting firm specializing in the financial services arena.

The most in-demand positions by financial institutions in 2008 are information technology and sales positions. Information technology positions were also viewed as the most difficult function to fill by financial institutions despite the use increasing use of outsourced and offshore technology resources, Claymore said, in a press release. Additionally, financial services firms say they have difficulty filling the finance function.

Nearly all (90%) of respondents indicated that the impact of the credit crisis on their 2008 hiring plans would be slight or have no impact. The only place where hiring appears to be impacted is in specific investment banking and mortgage firms, as well as areas that are deeply and directly impacted by the credit crisis. Those firms are reducing hiring plans in specific areas, Claymore says, but the impact does not seem to be wide spread at this point.

The 2008 Financial Services Talent Acquisition Survey was sent to over 350 human resources executives from leading financial service institutions across the USA. For more information on the findings from the survey, please contact Steven Landberg at slandberg@ClaymorePartners.com.