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Chicago Finance Jobs

Posted on May 27, 2008

Economic issues have forced the job security of the finance industry down. Between the credit crisis and the slump in the housing market, many companies have found it necessary to reduce the size of their payroll. Despite this, those looking for Chicago finance jobs will still be able to find new opportunities, according to Robert Half International’s Financial Hiring Index.

Through surveying local chief financial officers (CFOs), Robert Half found that 14 percent plan on continuing to create new finance jobs in Chicago through the end of the second quarter of this year. Only 5 percent of CFOs reported that they would be doing away with full-time positions. Although this means that the industry remains relatively stable, the hiring index shows that job growth will be more moderate for time being.

According to index, 41 percent of CFOs attributed their need to create new jobs to the fact that business is growing. This figure is up 11 points from Robert Half’s first quarter report. Another 34 percent of CFOs reported that the need to increase the size of their staff came from rising workloads.

Find the proper talent to fill vacant finance jobs may not be so easy for hiring managers. Chairman and CEO of Robert Half International Max Messmer says that “Sustained hiring in accounting and finance over the past several years has resulted in an increasingly shallow talent pool, and many employers continue to struggle to find professionals with the requisite skills.”

The number of new Chicago finance jobs will likely be greater than the national average. According to the index, only 9 percent of CFOs nationwide feel that they will be increasing the size of their staff between now and the end of the second quarter. Throughout the country an average of 5 percent of CFOs were expecting to do away with positions. A recent Robert Half press release says that this net 4 percent increase is down two points from first-quarter expectations.

Robert Half International has been tracking hiring activity in the finance industry since 1992. Results for the Financial Hiring Index were reached through telephone interviews with over 1,400 CFOs from across the country. The surveys were conducted by an independent research firm.