Industries on the Spotlight

Have you ever wondered how some specific industries are reshaping? Or what are the top-paying positions or the regular entry-level path? Even though most industries follow their own rules and trends, it’s worth analyzing some of the labor market's most influential and lucrative sectors.

This week’s edition spotlights the healthcare, finance, and tech industries, so stay tuned to learn more about their current state.

Getting started in the finance industry

The finance industry is an old-reliable industry in which many professionals can thrive even if they don’t have a related degree. Despite the idea that you should have a super specific profile or years and years of experience to land a lucrative position, truth be told, whether you’re a recent graduate or a career changer, there are many options you can explore to start a career in this sector.

One of this industry’s main attractions is its outlook for the coming years. According to the Bureau of Labor Statistics, jobs in finance will grow faster than the average for all the labor market occupations. From this year until 2033, it’s expected to have approximately 963,500 new job openings per year. Pretty promising, right?

If the finance industry is attractive enough, but you don’t know how to start, here are some tips you can follow to get started in an entry-level job.

• Seek an internship
• Expand your knowledge with relevant courses
• Find a mentor in finances
• Get guidance from a recruiter in the finance industry

On top of defining a strategy to learn and apply your knowledge about finances, you have to explore and select the right entry-level position. For your choice, we recommend considering your current skills, career development projection, financial needs, and expectations.

Some common, well-rewarded entry-level positions in finance are financial analyst, accountant, and loan officer. If you want to explore more roles to start your career path in this industry, check the following article in our blog.

What’s the outlook for the healthcare industry?

Since the COVID-19 pandemic, there’s been a lot of expectations about the healthcare workforce and how it’ll evolve in the years to come. All of the workers in the first line of defense had to deal with many stressful scenarios that ultimately led them to experience burnout or even retire from the industry.

Truth be told, this concern comes from way before the pandemic. Since ten years back, many organizations have pointed out how challenging it’s become to find and retain healthcare professionals. With the pandemic, this situation got worse, whether it's because of the rising demand, a decrease in new professionals, or an increase in current healthcare workers shifting to a different industry.

What makes this situation a bit paradoxical is that the healthcare industry's projected growth for the current decade is much faster than the average for the rest of the occupations in the U.S. Therefore, we could argue that the root of this talent shortage is more related to recruitment and a tighter candidate pipeline.

So, how can companies and public health organizations tackle the worker shortage? The best way to find an effective solution is to approach the issue from different angles. For starters, employers and hiring managers must address the problem and then implement some of the following actions to increase their workforce:

• Improve healthcare training and education
• Foster career development for current healthcare workers
• Improve work conditions and compensation

If you want to learn more about the worker shortage and the outlook for the healthcare industry, dive into this blog post from our Knowledge Center.

Thriving in the tech industry

The fact that most of a company's processes, the labor market, and an individual’s daily life have shifted to the digital landscape has turned the tech industry into one of the most rewarding sectors for new and experienced employers.

Whether you’re a recent grad looking to establish yourself in the industry or have years of experience in a different sector and are planning to transition to a more rewarding role, the tech industry offers many starting points for individuals with the right skill set and certifications.

In addition to the almost 377,000 job openings projected per year for the current decade, the tech industry offers a median annual wage ($104,420) much higher than the average for all occupations in the U.S.

Similar to the finance industry, while challenging, making your way into the IT sector is not an impossible assignment; rounding up your profile with the specific abilities and knowledge, as well as making the right connections, will set you up for success in landing the right tech job for you.

Here are some of the best tech jobs you could apply without a related degree or background:

• Data analyst
• UX/UI designer
• Web developer
• Project manager
• Technical writer

If you are interested in one of these positions or want to discover a few more, check out this blog post to learn about their main requirements, average salary, skills, etc.

Remember you can find more industry-related insight and read more about the latest labor market trends in our corporate blog, The Knowledge Center