The financial services industry is the backbone of global commerce, providing the tools and infrastructure needed to support economic activity. It encompasses a broad range of sectors, including banking, insurance, investment management, real estate and financial advisory services. The size of the financial services market is expected to see strong growth through 2028, reaching nearly $45 trillion.An array of complex dynamics is helping to fuel that growth, from increasing investment activity, including by individuals, to rising demand in emerging markets for financial services like banking and insurance. Technological advancements such as generative AI and blockchain are reshaping traditional financial services and accelerating the rise of fintech companies by enhancing automation, improving security and enabling more efficient transactions. Regulatory complexity is also driving up the need for compliance, risk management and other specialized services inside and outside of the industry.In line with these trends, research for the 2025 Salary Guide From Robert Half found the demand for various finance and accounting professionals is escalating as companies prioritize staffing for strategic advisory, risk, technology and compliance jobs. However, we also learned that 93% of hiring managers in financial services are facing challenges finding skilled candidates for these and many other positions.Based on additional findings from Robert Half’s workplace research and other sources, signs are pointing to the skilled talent shortage in financial services persisting for at least the next several years. Here’s a closer look at what employers and job seekers should know about the evolving talent needs of this complex and growing industry.
The employment outlook for financial services jobs
The BLS projects employment in business and financial occupations will grow faster than the average for all occupations through 2033. That’s about 963,500 job openings annually, on average. Robert Half’s workplace research shows that growth is already a top factor influencing hiring decisions for more than half (59%) of U.S. employers in the financial services industry. Sixty-eight percent of hiring managers surveyed said they are expanding their teams and recruiting talent for both new and vacated positions, while 28% of respondents reported they are focused on hiring only for vacated roles.Notably, the BLS cites employers’ need to replace workers leaving their roles permanently as another driver for hiring through 2033. What’s contributing to attrition? Financial services is a high-pressure industry, so stress and burnout are likely at the root of many employee departures. Recent research from software firm Calm found that 36% of workers in finance feel stressed or anxious more than half or nearly all of the time.Additionally, an aging workforce is creating a wave of retirements in financial services, including at the leadership level. The upside for workers is that this trend is opening the door, especially for mid-career professionals, to step into more strategic roles. It also underscores the need for employers in financial services to amplify their leadership development and succession planning efforts. Robert Half’s workplace research shows that more than a third (33%) of employers in finance and accounting are already facing succession planning challenges due to the retirement of key employees.
Recruiting challenges in financial services—and how employers are responding
Other factors increasing the need for skilled talent in financial services are exacerbating the shortage of in-demand professionals available for hire in the industry. For example, as we explain in our 2025 Salary Guide, financial institutions are focusing their hiring strategies on business growth and technology integrations. That, in turn, is creating greater demand for candidates with experience in advanced data analytics and AI-powered technology systems, especially in areas like regulatory reporting and fraud detection. This talent is already in short supply in the labor market.Meanwhile, the industry’s widening embrace of AI is leading many financial services firms to invest more in staffing their technology teams. Robert Half’s research for the Demand for Skilled Talent report found that AI implementation is one of the top priorities for finance and accounting leaders this year. Employers in the financial services industry are adding AI-related roles such as AI financial analyst, AI auditor and AI compliance analyst to their finance teams.What are employers in financial services doing to overcome skills gaps in AI and other areas within their organization? Top strategies include implementing cross-training programs (58%), offering voluntary professional development (56%) and reskilling team members (43%), according to our research. We also learned that 74% of firms are increasing their use of contract talent.
Hiring tips for employers in financial services
To attract the best available talent, employers in financial services need to be prepared to offer competitive compensation, and potentially pay above market rates for some roles. Emphasizing career growth potential, underscoring opportunities to learn new skills and engage in meaningful work and highlighting how technology-driven transformation makes it an exciting time to work in the industry are other ways employers in financial services can succeed at recruiting in-demand talent.Organizations should also strive to accelerate the hiring process. In a competitive labor market, a prolonged recruitment process can deter top candidates. Employers should aim to streamline interview cycles and decision-making red tape while maintaining rigorous standards for evaluating potential hires.Presenting the right mix of offerings can also make all the difference when hiring in-demand professionals in financial services. For example, research for our 2025 Salary Guide found that most workers today want remote work options or, at least, the opportunity to have a flexible schedule. More than half (81%) of professionals in the finance and insurance sector said having the flexibility to work where and when they want is a major factor in their decision to accept a job offer.Considering how workers in the financial services industry can experience high levels of work-related stress, it is not surprising that many place a premium on flexible work, which can help them achieve a better work-life balance.
What financial services job seekers need to know
The financial services industry offers many paths for building a rewarding career, from working at fast-growing fintech companies to joining teams at large firms with well-known brands and long histories. The industry’s focus on digital transformation and commitment to environmental, social and governance (ESG) initiatives make it particularly appealing to those who want to be at the forefront of change and engage in work that can make a positive impact.While the demand for skilled talent in financial services is high, employers are still selective when hiring employees. Job seekers who show strength in the following areas will likely find they have an advantage when competing for many types of roles:Technology proficiency, including skills in data analysis, AI and machine learning, and cybersecurity. Many employers are also seeking candidates with experience working with enterprise resource planning (ERP) systems, which integrate core processes like financial management, reporting and compliance and help support data-driven decision making.Regulatory knowledge, including anti-money laundering (AML) laws, data protection laws like the European Union’s Global Data Protection Regulation (GDPR), Securities and Exchange Commission (SEC) rules, tax regulations and International Financial Reporting Standards (IFRS).Communication skills, such as the ability to explain complex financial concepts and data findings clearly and effectively to clients and stakeholders.Possessing in-demand certifications like the CPA or Chartered Financial Analyst (CFA) designation can also significantly boost the marketability of candidates seeking financial services jobs.
Keep pace with hiring and salary trends in financial services
Access the Salary GuideThe financial services industry is evolving rapidly as companies work to blend traditional strengths with leading-edge technology innovations. To understand the impact of this evolution on hiring trends and challenges in financial services, employers and job seekers can look to Robert Half’s Salary Guide for insight. The guide also provides average starting salaries for many roles in financial services, including in financial planning and analysis (FP&A), internal audit, regulatory reporting, risk analysis and compliance.
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