Work in this sector is more far-ranging than you may suspect, including everything from accountants and auditors to banking relationship managers and cybersecurity experts. In Westchester County, major employers include Mastercard, whose global headquarters are in Purchase, NY.
Read on for more detail on jobs, trainings, and opportunities in this sector.
3 Important Jobs
These jobs pay well and are set to grow between 2020 and 2030 in the Hudson Valley (Source: NYS Department of Labor)
1. Accountants and Auditors
What do they do? Accountants and auditors prepare and examine financial records.
- Required education: Bachelor’s degree
- Projected growth: 20.4%
- Entry-level salary: $67,544
- Median salary: $101,049
2. Credit Counselors
What do they do? Credit counselors advise and educate individuals or organizations on acquiring and managing debt. They also may provide guidance on credit issues and on budgeting, mortgages, or student financial aid packages.
- Required education: Bachelor’s degree
- Projected growth: 15.0%
- Entry-level salary: $52,455
- Median salary: $62,417
3. Budget Analysts
What do they do? Budget analysts help public and private organizations plan their finances. They work in government agencies, private companies, and universities.
- Required education: Bachelor’s degree
- Projected growth: 12.5%
- Entry-level salary: $73,402
- Median salary: $98,822
Q&A: Brian Huff, Market Executive, JPMorganChase
Which jobs are seeing the fastest growth and highest demand for new talent?
In the financial services industry today, we are seeing a need for strong financial analysts, risk management specialists and commercial bankers to support individuals and businesses alike as they navigate financial complexities and an everchanging market environment, all while ensuring they comply with rules and regulations.
What do people do in those jobs?
Financial analysts evaluate financial data to guide investment decisions and strategic planning. Risk management specialists identify potential risks and develop strategies to mitigate them. Commercial bankers work with business clients to provide customized financial solutions, such as loans and cash management services, to support growth and operational needs.
What training does it take to do these jobs, and where can people get it?
Financial analysts usually have a degree in finance, economics, or a related field, with certifications like Chartered Financial Analyst being beneficial. Risk management specialists often hold degrees in finance or business, with certifications such as Financial Risk Manager or Professional Risk Manager. Commercial bankers like myself generally have degrees in finance or business. Internships provide valuable experience, and training can be obtained through universities, professional organizations, and online courses. Networking is also crucial for career development in financial services.
JPMorganChase’s Westchester/Mid-Hudson Valley Market Leadership Team hosts events connecting employees with colleagues and executives from various lines of business, helping them explore opportunities and find mentorship. I’ve seen its impact firsthand: a Chase branch manager successfully transitioned to a commercial banker role by leveraging connections made at these events.
What kind of person does it take to succeed in the financial services field?
Success in financial services requires analytical skills, attention to detail, and strong communication. These skills are crucial for analyzing trends, advising clients, and crafting financial strategies. As a market executive for JPMorganChase’s Commercial Bank in Westchester, I prioritize candidates who embody these traits when building my team. Recently, I hired two candidates with diverse backgrounds — one a former military service member and the other a long-term banker. Despite their different paths, both are driven and accountable, bringing unique perspectives that enhance our team’s performance.
Links and Resources
Mercy University
Learn in one of the few trading room classrooms in the nation, which offers live Bloomberg technology and realtime market data. The B.S. in Business Administration: Finance degree offers finance/accounting and finance/economics tracks. A degree in Financial Accounting is also available.
SUNY Westchester Community College
The degree program in Accounting and Finance at Westchester Community College provides seamless transfer opportunities to local colleges, after which graduates find jobs in accounting firms, corporations, banks, and small businesses. Many become Certified Public Accountants.
Similar programs are available at many other local institutions of higher learning, including Iona University, Manhattanville University, and Pace University.
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