According to the latest LinkedIn data, financial advisors have become a hot commodity. The role tops our latest list of jobs with the fastest-growing demand, beating out in-person positions (including retail sales specialists, store associates, and tellers) that employers are rushing to fill as the United States and many European countries continue to lift pandemic restrictions.
The surge in financial advisory roles may not come as a surprise. Millions lost their jobs over the past year and a half and are facing financial hardships, while many of those who stayed employed have concerns about their retirement plans, college expenses, and homeownership dreams.
While there may be promising signs that the pandemic is receding, financial anxieties are far from over. “We’ve been getting a lot of clients,” Pam Capalad, founder of the financial advisory firm Brunch & Budget, recently told The New York Times, “who say, ‘I really need to think about this now.’ Either the pandemic was a wake-up call and it really turned their finances upside down, or people got through it OK and now they’re saying, ‘I need to figure out what is next for me.’”
If you’re a talent professional wondering what’s next in the recruiting industry, read on for the full lists of the most in-demand jobs and the jobs with the fastest month-over-month growth. This post has been updated every month for the past year to help talent leaders and recruiters make hiring decisions, manage expectations, and better understand the competitive talent landscape.
Demand for financial advisors may be surging, but the talent pool is shrinking
Demand may be up for those who can make sense of our dollars and cents, but recruiters in the financial services industry have long known that these roles aren’t necessarily easy to fill. Even before the pandemic, there were troubling signs of a talent shortage.
In the United States, a 2019 survey indicated that nearly 40% of the country’s financial advisors were planning on retiring by 2029 and that the industry was being hit hard by automated financial advice. Also in 2019, the United Kingdom’s prognosis for potential retirees was closer to 60% and Australia saw thousands of financial advisors leave the profession due to new regulations, certification standards, and other factors.
Jobs with the fastest-growing demand
Roles with greatest month-over-month increase in LinkedIn job posts (April 2021 to May 2021)
- Financial Advisor (+249%)
- Retail Sales Specialist (+170%)
- Store Associate (+167%)
- Customer Assistant (+152%)
- Product Designer (+105%)
- Solutions Engineer (+95%%)
- Automation Test Analyst (+90%)
- Technical Project Manager (+88%)
- Teller (+78%)
- Sales Director (+60%)
Today, the shortage continues. In Canada, for example, a recent report from the Ontario Securities Commission noted that there just appears to be less interest among younger generations in becoming a financial advisor.
So what’s a recruiter to do? If you’re coming up short in your search, look for potential hires with transferable skills or roles that financial advisors often have earlier in their careers. Our data, for example, indicates that many financial advisors were once salespeople and customer service representatives (likely working on their financial certifications on the side) — jobs that similarly need good communication skills, an ability to interpret wide spreads of data, and a head for numbers.
Still wanted: Drivers, nurses, and web developers
Although the world has made progress in the fight against COVID-19, some roles that rose to the top of our in-demand role lists early in the pandemic appear to have staying power.
Open positions for drivers continue to grow, as ride-sharing apps struggle to fill their ranks and consumers continue to have an appetite for buying online and seeing packages appear at their doors. In the United States, nurses are in high demand and short supply, an imbalance driven by the needs of an aging population and the return of non-emergency treatments in many hospitals that had scaled back due to COVID. And tech roles in engineering and web development are as popular as ever, as companies continue to accelerate their digital transformation initiatives.
Jobs with the most demand overall
Roles with the most LinkedIn job posts
- Software Engineer
- Store Associate
- Registered Nurse
- Animal Groomer
- Project Manager
- Retail Salesperson
- DevOps Engineer
But in hopeful news, in-person retail positions that had disappeared from our lists during the pandemic continue to make a comeback. Three retail positions (salesperson, store associate, and retail salesperson) are in this month’s top 10 list of jobs with the most demand overall. Industry experts are optimistic that retail sales in the United States will rebound to prepandemic levels, with the National Retail Federation even predicting “the fastest growth that we’ve seen in this country since 1984.”
Unemployment is high in many countries around the world, but companies are struggling to hire. As The New York Times points out, there are many reasons for this seeming contradiction: Workers still have concerns about their health and safety, many parents are still lacking adequate childcare, and employees everywhere are reconsidering their careers and priorities after a year of lockdowns and turmoil.
This is, of course, a challenge for talent professionals. But it’s also a great opportunity to create a fairer and more equitable workplace. It’s a time to rethink how employees are compensated, where and when they work, and who is targeted early in the recruiting process. And as workers are rethinking their career paths, it’s also an opportunity to meet candidates where they are and implement a skills-based hiring approach.
Based on global LinkedIn data on all premium job posts in April 2021 and May 2021. The most in-demand jobs are those with the highest number of job posts. The jobs with the fastest-growing demand are those with the biggest percentage growth in the number of job posts, from April 2021 to May 2021. Jobs with fewer than 1,000 job posts in April 2021 were excluded from this analysis. Common previous roles for financial advisors are based on job transitions over the last 36 months, according to members' LinkedIn profiles.