CISI: Attitudes to financial services must change
A new report from the Chartered Institute for Securities and Investments (CISI) has suggested that attitudes to the financial services sector will need to be refreshed if firms are to attract the talent they need over the coming years.
CISI's study revealed that, especially among young people and students, the sector's stock is relatively low at the moment despite the possibilities of high remuneration it has always offered talented candidates.
The survey - carried out by YouGov - found a great deal of confusion over what a role in the sector would actually entail on a day-to-day basis.
Some 53 per cent of youngsters felt such a career would be 'boring', while 50 per cent expected it to be full of numbers. Only 24 per cent were confident they knew what kind of jobs the sector offered, with less than ten per cent keen to find a financial services role.
Technology, engineering, policing and healthcare were all identified as popular careers among the young respondents.
Simon Cuhane, Chartered FCSI and CISI chief executive, said poor numeracy skills are creating a "vicious circle" that puts potential applicants off financial services roles.
"This, in turn, seems to be contributing to a low level prejudice against financial services as a career amongst young people's key influencers, teachers and parents," he added.
More needs to be done to raise awareness of the diversity of roles available within the industry, suggested the chief executive.
"With some of the highest UK graduate salaries being available in the investment banking sector, we should not undersell to our young people the fact that financial services offers excellent opportunities for a good, exciting and rewarding career," concluded Mr Cuhane.
Given the importance of bringing in fresh talent to the sector over the coming years, particularly with concerns over a potential graduate skills gap beginning to arise, this is an issue firms need to be aware of.
While this shouldn't pose a problem when recruiting mid-career candidates, perhaps more could be done to connect with young graduates looking for a first or second job.
Signup to receive the latest discipline specific articles
Related articles
Teaser
GovernanceContent Type
Fintech
18/04/24
Summary
The role of risk and compliance in financial services As a sizeable, growing portion of the financial services sector, risk and compliance play a vital role in ensuring that firms conduct busine
by
David Clamp
Teaser
Executive SearchContent Type
General
18/04/24
Summary
Private equity (PE) is a growing industry that has always attracted ambitious top talent due to its high risk/high gain capital investment. Pre-covid, we saw the global private equity industry b
by
Tracey Alper
Teaser
Commerce & IndustryContent Type
General
18/04/24
Summary
What is financial contracting? Financial contracting refers to the practice of hiring finance professionals on a contractual basis to fulfil specific roles or projects within an orga
by
Kelvin Murphy
Related jobs
Salary:
£60,000 - £70,000 per annum
Location:
North West England
Industry
Insurance
Qualification
Fully qualified
Market
Financial Services
Salary
£70,000 - £80,000
Job Discipline
Internal Audit
Contract Type:
Permanent
Description
Internal Audit Manager - ESG & Operational, you'll contribute to external requirements & stakeholder expectations around ESG performance and reporting
Reference
BBBH180036
Expiry Date
01/01/01
Author
David ClampAuthor
David ClampSalary:
£150,000 - £170,000 per annum + Equity, Bonus and Benefits
Location:
City of London, London
Industry
Business Services
Qualification
Fully qualified
Market
Executive Search
Salary
£125,000 - £175,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is working with a Well-Established Listed B2B Infrastructure Consultancy Business
Reference
TA3249
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£180,000 - £200,000 per annum + exit bonus, benefits
Location:
London
Industry
Technology
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search has an opportunity for a Chief Financial Officer to join a high growth PE-Backed Tech-enabled business.
Reference
TA 3247
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£150,000 - £175,000 per annum + Equity, Bonus and Benefits
Location:
Yorkshire and the Humber
Industry
Business Services
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search has an exciting opportunity for a CFO to join a PE Backed infrastructure business
Reference
TA 3246
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£100,000 - £130,000 per annum + equity, bonus and benefits
Location:
Derbyshire
Industry
Transport & Logistics
Qualification
Fully qualified
Market
Executive Search
Salary
£125,000 - £175,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin Executive Search is working with a Multisite Distribution business in their search of an accomplished CFO
Reference
TA 3243
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£180,000 - £200,000 per annum + Equity, Bonus and Benefits
Location:
England
Industry
Professional Services
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin executive Search is working with an international PE-Backed Buy and Build Corporate Services Business.
Reference
TA 3244
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£150,000 - £175,000 per annum + equity, bonus and benefits
Location:
London
Industry
Technology
Qualification
Fully qualified
Market
Executive Search
Salary
£175,000 - £250,000
Job Discipline
Private Equity Executive Search
Contract Type:
Permanent
Description
Marks Sattin executive is working with a PE Backed, International Software business, going through a period of rapid organic growth
Reference
TA 3242
Expiry Date
01/01/01
Author
Executive SearchAuthor
Executive SearchSalary:
£25,000 - £28,000 per annum
Location:
Birmingham, West Midlands
Industry
Property and Infrastructure
Qualification
None specified
Market
Commerce & Industry
Salary
£25,000 - £30,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
After securing a new contract a housing association is looking for a new Accounts Receivable Clerk to join their Finance department. Needing someone experienced within Accounts Receivable clerk
Reference
BBBH180049
Expiry Date
01/01/01
Author
Olivia BalnaveAuthor
Olivia BalnaveSalary:
£24,000 - £27,000 per annum
Location:
Birmingham, West Midlands
Industry
Property and Infrastructure
Qualification
None specified
Market
Commerce & Industry
Salary
£25,000 - £30,000
Job Discipline
Part Qualified & Transactional Finance
Contract Type:
Permanent
Description
Are you in the market for a new role? Are you experienced within Accounts Payable? Specifically, within the housing sector?
Reference
BBBH180048
Expiry Date
01/01/01
Author
Olivia BalnaveAuthor
Olivia BalnaveSalary:
£35,000 - £42,000 per annum
Location:
Sheffield, South Yorkshire
Industry
Business Services
Qualification
Finalist / Newly qualified
Market
Financial Services
Salary
£40,000 - £50,000
Job Discipline
Newly Qualified Finance
Contract Type:
Permanent
Description
Are you passionate about making a difference in the lives of others? I'm working with a charity who are looking for a part-time Finance Manager.
Reference
BBBH180040
Expiry Date
01/01/01
Author
Dean FollandAuthor
Dean Folland