By Aoibhinn Mc Bride
While Big Tech has suffered some major blows in recent years and its workforce have subsequently had to deal with mass layoffs across the board, the finance industry as a whole has remained steady, despite soaring inflation and talk of recession.
Unsurprisingly, this has filtered down to the next generation and recent grads are now eschewing tech and veering towards the financial services industry instead.
That's according to a recent report by the CFA Institute which found that 25% of graduates now rank finance as the top career sector. Comparatively, finance took the number five spot in 2021.
Tradition trumping innovation?
Two of the main reasons behind this shift in popularity boil down to traditional values that don't typically spring to mind when you think of Gen Z workers.
Job stability and the desire for a six-figure paycheck are motivators. Finance salaries have remained high at the major firms and some grads can expect to make $200,000 on Wall Street in their first year out of college.
Additionally, Gen Z aren't as phased by the return to office orders being ushered in by many of the accounting giants as their millennial peers. A study by McKinsey found that only 29% of Gen Z workers want to work remotely, however over half of millennials prefer working remotely.
This correlates with data compiled by Unispace which established that Gen Z are more likely to rely on the traditional structure of the office to foster a sense of belonging in the workplace with 81% saying they feel disconnected from their peers when working from home, despite being digital natives.
Whatever stage you are at in your career, if you are looking for your next opportunity within the accounting industry, the Accounting Today Job Board is the ideal place to focus your search. It features thousands of jobs across the country, including the three below.
Senior Subcontracts Administrator, ENSCO, Inc., Springfield
ENSCO Inc.'s Procurement Department manages all aspects of the company's subcontracts efforts for systems integration, research and development, and engineering programs in support of its U.S. government, commercial, and international customers. As Senior Subcontracts Administrator your responsibilities will include supporting developing requests for proposals, analyzing proposal responses to ensure compliance with customer flow-down requirements, negotiating terms and conditions for NDAs, teaming and subcontract agreements, monitoring of subcontractor payment milestones and performance, addressing performance and/or funding issues, and maintaining contractual documentation and file information. You will also be expected to collaborate with the company's corporate functions including contracts, procurement, finance and program management personnel, and external entities addressing business risk and contractual matters. Find out more here.
Corporate Accountant, Accounting Policy & Special Projects, ACV Auctions, Buffalo
ACV is a technology company that has revolutionized how dealers buy and sell cars online. The Corporate Accountant will play a pivotal role in supporting the financial health and integrity of ACV. This role is responsible for managing and reconciling financial transactions, preparing and examining financial records, and ensuring compliance with accounting principles and regulatory standards. Precision and attention to detail are vital in maintaining accurate financial data, facilitating timely reporting, and supporting sound financial decision-making within the company. As such, you will actively and consistently support all efforts to simplify and enhance the customer experience, drive strategic initiatives in the accounting department and independently manage multiple priorities requiring accounting technical acumen and sound business judgment. See the full job description here.
Accountant, SAIC USA. Inc, Birmingham
SAIC is seeking an Accountant to join its team in Birmingham, Alabama. In this role you will forecast cash flow positions and ensure that sufficient funds are available to meet ongoing operations. You will also be required to process weekly and semi-monthly payment runs, including electronic checks and wire transfers while also responding to payee inquiries about remittance and payment status. Maintaining contacts with banks in the U.S. and cash pools in international locations along with managing external and internal loan activities, including renewal and interest payments is essential. You will also maintain a system of policies and procedures that provides an adequate level of internal control regarding treasury activities and be responsible for the SAP material sales view setup and sales invoice issuance. Get more details here.
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