SOURCE: OneWire

OneWire

December 16, 2009 08:00 ET

Finance Job Seekers Remain Upbeat About Career Prospects Despite Longer Than Expected Job Search

According to OneWire.com Survey, 68% of Job-Seeking Finance Professionals Are Confident About Finding Employment Within Next Six Months, Even as 79% Report That Their Job Search Is Taking Longer Than Expected

NEW YORK, NY--(Marketwire - December 16, 2009) - As the economy begins to show signs of a recovery, about two-thirds of job seekers in the financial services sector are confident that they will be employed within the next six months. This optimism exists even as 79% of job seekers acknowledge that their job search is taking longer than they had initially expected.

These responses, from a recent survey of job-seeking finance professionals, suggest a continued resilient attitude amongst finance job seekers eager to land a new job following the worst economic downturn in decades. The survey was conducted by OneWire.com, a hiring and career management tool for the finance industry.

In addition to being upbeat about career prospects, many finance job seekers are also remaining optimistic about compensation, with 58% expecting the total compensation of their next position to be the same or higher than their most recent position. Even with this expectation in mind, 57% of respondents noted that they would consider accepting a position that pays less than their most recent finance-related job.

"Finance job seeker confidence has remained roughly the same since OneWire.com conducted a similar survey six months ago," said Skiddy von Stade, chairman, OneWire.com. "At that time, we had just begun to see firms start to test the waters in terms of hiring. Since then, there has been a steady uptick in hiring activity and we remain cautiously optimistic that this trend will continue through 2010, with the most in-demand fields including leveraged finance, restructuring, corporate finance, asset management, capital markets, mergers and acquisitions, and compliance."

As the sector begins to increase hiring, job seekers appear to be somewhat flexible in the positions that they are willing to take to keep their careers on track. 39% report that they are willing to settle for anything related to their field while only 19% note that they are holding out for a specific position or title. 41% said that they are being somewhat selective as they look for their next opportunity. Flexibility aside, 41% of respondents shared that they did not believe finance to be as desirable a career path as they thought just two years ago.

"It will be a while before we see a full rebound in the finance sector," said von Stade. "Nevertheless, there are absolutely jobs available for qualified seekers who can stand out from the crowd and show hiring firms that they have what it takes to help keep their business strong and moving forward."

As unemployment in the sector remains high, finance professionals are also turning to each other to get a leg up on their job search. 79% of survey respondents reported receiving more invitations to connect online with alumni or peers over the past six months than in previous years. 94% of respondents confirmed at least some use of networking tools.

The OneWire.com survey was administered online November 6 - December 4, 2009. Respondents who took the survey had to indicate that they were currently searching for a finance-related job. OneWire.com is a career management tool that precisely and efficiently connects finance professionals with hiring financial firms to help them network and achieve career goals.

About OneWire.com

Founded in 2008, OneWire.com is the first online career and recruitment management tool that precisely and efficiently connects finance professionals and companies. Powered by a patent-pending match algorithm, OneWire.com helps candidates achieve career goals, and enables hiring managers and recruiters to precisely and immediately connect with the most qualified finance professionals, reducing expenses, wasted time and inefficiencies. For more information, please visit www.onewire.com.

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