Careers in Finance Hold Steady despite Global Turmoil

Today there are several students who are taking up the challenges and risks of starting up new ventures and startups. They are participating in finance as well as insurance jobs as well as in services related to the technical sector. For those who are on the verge of choosing a career and wondering how the global scene will influence careers in the near future, need not worry about facing stagnation in a career in finance.

Study findings at a premium university

There was a study conducted at Princeton University that showed that employees have increased about 200 percent of the alumni network of the university. Of the classes that graduated between the years 2006 and 2010 the technical services as well as professional and scientific jobs increased rate of hiring from seven to nine percent. The number has nearly doubled between the year 2011 and 2014. The rates of employment in insurance and finance held steady around eleven to twelve percent over the last five years. The choice of these sectors has gone down among the graduates, with only nine to fifteen percent choosing to work in finance related sectors. That is as per the data collected by the career services of the University.

Changes in career preferences

The directors of the university point out the change of preferences in graduation subjects among students from 2011.

  • There are students who take up specializations for consulting and finance, but they are not the majority percentage any more. As Princeton is a revered university, most financial companies recruit from the campus and hence the demand of the companies is already known among the students who comprehend and choose their specializations accordingly.
  • The main change that has come from being in the interest in startups. Most students are looking at being entrepreneurs and are concentrating on technology oriented startup ventures. The companies that belong to the scientific, technical and professional sectors are able to attract more of the youngsters due to the creative opportunities that lie which can be explored by these young minds. The college graduates are looking forward to doing meaningful work than simply doing a job from nine to five.
  • Today the tech companies and startups have increased and occupy a larger economic space in any country, especially the developed ones. With innovation, showing returns within a short time frame, more and more graduates are interested in exploring novel initiatives.
  • The other attraction is the ability to take on a responsible position early in one’s career. With an entrepreneurial role, youngsters are able to explore higher job responsibilities and gain job satisfaction, faster than in a strait jacket corporate scenario.

With startups being successful more often, many are willing to take the risks as against the comfort and security of a corporate job. However, with the global economy growth rate being a sign of concern as seen in the article on policy makers uncertain about the way forward, there might come a time when the startups flicker out in growth prospects and profits too soon and leave the young entrepreneurs turning to the corporate offices for the traditional job roles.

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