JOBS & CAREERS SPRING 2018 - 82
f you're a whiz with figures, finance could be the ideal career choice.
As well as making up around 12% of the UK's economic output, the
financial sector is a major employer, employing 2.2 million people in
roles from accounting to investments and pensions.
While London is the world's number-one global financial centre, twothirds of the nation's finance jobs are located outside the City, so there
are plenty of opportunities wherever you live. And don't be put off by the
uncertainty surrounding Brexit. Many experts remain optimistic that leaving
the EU could create new opportunities for the UK's financial services. Read
on to discover more about the types of job available.
Investments and pensions
People in these roles research the likely
performance of investment funds and
look to mitigate financial risk and
liability for their clients. Performance
measurement, investment support, risk
assessment, data management, trading
and stockbroking can all be part of the job.
Those who manage pensions for their
clients are often referred to as pension
scheme managers or pensions consultants.
There are a number of other related
roles that deal with wealth management
and financial planning, including
private client investment managers,
executives of life, pension and investment
providers and senior managers of life,
pension and investment providers.
Your role could also involve handling
claims and settling disputes, planning
new pension schemes and developing
existing ones, investing the company's
funds, reporting on the scheme's
financial performance, working with
actuaries, solicitors, auditors and trustees,
or marketing pension schemes.
What qualifications do I need? You
need a background in pensions or
finance, plus a qualification in pensions,
insurance or accountancy. You can start
as a trainee or administrator and work
your way up. Qualifications from a
professional body, such as the Pensions
Management Institute, may also help.
How much can I earn? Starting salaries
range from £22,000 to £25,000, rising
to £40,000 with experience. Highly
experienced investment and pensions
administrators can earn £40,000 to
£80,000. Salary packages may include
insurance, pension benefits and bonuses.
Banks and building societies
The sector's biggest employers, retail
banks, offer a range of positions, from
tellers to mortgage advisers and managers.
Work is typically in high-street
branches, although there are increasing
Diversity in banking
Many employers in the
finance sector have initiatives
to recruit more black, Asian
and minority ethnic (BAME)
employees into an industry
that's traditionally been
viewed as very white and very
male. Research carried out in
2015 found that women made
up only 14% of executive
committees in the financial
services sector. In response,
the government's Women
in Finance Charter was
introduced in March 2016 to
encourage financial services
8 2 /// J O B S & C A R E E R S
firms to commit to creating a
gender balance at all levels.
More than 160 firms have
signed the charter, which
requires firms to publicly
report on their progress.
Among the signatories is
Principality, the UK's sixth
biggest building society,
which signed up in July 2016.
"Diversity and inclusion is
central to our people strategy
and we are one year into a
five-year plan that focuses
on having a workforce that is
reflective of the communities
we operate in," says Rhian
Langham, the building
society's chief people
officer. "We are looking at
all areas of the employee
lifecycle, from the way we
recruit through to talent
management, and increasing
made up 14%
awareness and understanding
across our business."
Banking giants were
recently named among the
most inclusive UK employers
for LGBT people, according
to research carried out by
equality charity Stonewall.