In 2024, the global finance industry has been characterized by a series of complex factors and employment shifts caused by advances in AI-powered fintech. In particular, there’s been a noticeable shift towards high-skilled, technology-driven roles, whereas the demand for low-skilled, routine roles has been steadily declining.
The finance industry, like many other market segments today, is still going through a digital transformation that displaces some jobs while simultaneously creating new career opportunities. The gap between low and high-skilled professions keeps increasing, as many finance corporations worldwide face dire talent shortages.
So, which finance professions were in highest demand in 2024? And which roles have the best prospects for future career development? To answer this, we decided to take a look at the global job search history in our recruiting database to see which positions the recruiters around the world were looking to fill in 2024.
Chief Financial Officer
Employment growth: 6% (for all C-level execs in the US)
Typical educational requirements: bachelor’s or higher degree in finance, accounting, or industry-related field
Traditionally, the CFO’s chief responsibilities include financial strategy planning, risk and liquidity management, and ensuring compliance with regulatory standards. Today, however, the profession, like many others, is going through a transformation. The increased focus on leveraging data analytics and funding for ESG (Environmental, Social, Governance) initiatives creates the demand for a new generation of CFOs who can effectively collaborate with other C-suite leaders – often, across the entire globe.
Notably, CFOs aren’t the only executives in high demand – in our previous analysis of most in-demand jobs in mid-2024, C-level positions ranked second on the top ten list, preceded only by technical IT leads. Considering that the digital transformation brought on by AI advances is still in progress, this makes perfect sense because businesses of different sizes need to scale their operations and are on the constant lookout for leaders to oversee this change.
In case with the CFOs, the growing market demand is stimulated by the ever-evolving regulatory frameworks and the move toward mandatory reporting, which make the position of a CFO a more challenging role than ever before.
Accountant
Employment growth: 9.4% (global projection)
Typical educational requirements: bachelor’s or higher degree in accounting
The globalization of businesses that spurs the demand for C-level executives also highlights the shortage of skilled accountants who can operate in multiple jurisdictions. While the global job growth projection stands at 9+%, regional disparities in this field are vast. The US Bureau of Labor Statistics, for example, predicts a 6% increase in accountant roles by 2033, whereas UK-based analytics suggests that almost half of the UK firms are struggling with hiring new talent.
However, the lack of certified accountants is not the only reason for this struggle. According to the Association of Chartered Certified Accountants, most small and medium-sized businesses find it challenging to maintain full-time accountants due to budget constraints. For many firms, automation software has become a functional solution, whereas accounting work that requires a human perspective is largely outsourced. Outsourcing often results in high employee turnover, which also explains why accountants are such a popular recruiting request.
Besides, the ongoing evolution of enterprise-level accounting software and mandatory ESG regulations emphasize the need for continuous learning and other soft skills, primarily resilience – another workplace trend many professionals find difficult to keep up with.
Tax Director
Employment growth: n/a
Typical educational requirements: bachelor’s or higher degree in degree accounting or finance
Another occupation that has been heavily affected by the globalization of businesses and the need for enhanced reporting in different jurisdictions. Just like CFOs who need to navigate the ever-changing regulatory landscapes, tax directors are constantly pressured by the introduction of new reforms, such as the EU’s Anti-Tax Avoidance Directive or OECD’s Base Erosion and Profit Shifting (BEPS).
The ever-evolving advances in automation and reporting alleviate some of these challenges, but they cannot fill in the expertise gaps that call for strategic thinking and a thorough understanding of the market specifics. Besides, as jurisdictions worldwide require near-instant electronic reporting, the need for professionals who can oversee proper software usage is increasing. So, once again, the hiring focus shifts from sheer tax reporting experience to multi-skilled expertise with an understanding of rapidly evolving software.
Besides, many companies worldwide are still re-evaluating their post-pandemic supply chains and are looking for more favorable tax jurisdictions. Expectedly, this spurs the demand for expert financial guidance and asset allocation.
Financial Manager
Employment growth: 17% (US projection)
Typical educational requirements: bachelor’s or higher degree in finance, business administration, or an industry-related field
Depending on the company size and business specifics, a financial manager may oversee small departments or be responsible for long-term financial strategy development. Similarly to occupations already discussed above, globalization, the digital transformation of businesses, a focus on high-tech skills, and the need for almost real-time reporting stimulate the demand for financial managers with a deep understanding of AI-powered automation, evolving regulatory frameworks, and preferably – a specific industry they work in.
In the last few years, the demand for financial managers with tech skills has grown exponentially; however, estimates on further occupational growth differ, especially when regional disparities come to light. The US Bureau of Labor Statistics indicates an impressive 17% growth, but Deloitte’s UK Financial Markets Regulatory Outlook projects more modest numbers – potentially even a slight decline in the number of job opportunities.
According to our data, business demand for qualified financial managers remained steady throughout late 2023-2024. However, similarly to the situations with accountants, small and mid-sized businesses are often limited by their budgets, which reduces the number of high-level finance hires and forces companies to either outsource some of their work or consolidate different financial roles within an organization.
Financial Analyst
Employment growth: 9% (US projection)
Typical educational requirements: bachelor’s or higher degree in finance, business administration, or an industry-related field
Similarly to other professions on this list, financial analysts are responsible for long-term company development, projecting revenue, and reporting. However, this job is closely linked to market research and analytics, along with the construction of feasible financial models for each market a company operates in. Not surprisingly, present-day financial analysts must work directly with data and AI-based tools to evaluate large data sets more efficiently.
But since market intelligence is more than just crunching numbers, the demand for analysts with specific industry knowledge is steadily increasing. And even though automation can cope with some of the financial analyst’s job responsibilities, high-level analytical and advisory skills are in great demand across multiple industries, from retail to tech.
Of course, the actual job opportunities will differ depending on market saturation. Traditionally, developed markets offer fewer opportunities with lower volatility rates, whereas developing regions can offer increased growth with proportionally increased volatility.
Methodology
For this analysis, we have collected all searches made over our database between November 2023 and October 2024, inclusive. Further, we separated all the searches relating to the finance industry and counted the number of searches for each unique job title. Thus, we’ve determined the top five most popular finance-related job queries in 2024 and listed them in this post, ranked from high to low. Since our findings are based on the results of a single database primarily used by recruiters and business developers, they may not fully reflect the situation in some narrow market segments. However, the findings are in line with the general state of the global finance industry in 2024.
Information about typical educational requirements was taken from publicly available sources, mainly job boards and career advice sites in the US and Europe. Since this statistic does not take into account job location, additional requirements may apply if presupposed by local labor laws. Notably, while a bachelor’s or higher degree in finance or business development is a standard requirement to qualify for a finance job, many employers prefer at least a master’s degree. Also, when aiming for a C-level position, first-hand knowledge of the specific industry is usually a must.
Information about job growth was also obtained from publicly available resources. Primarily, these figures are based on predictions from the US Bureau of Labor Statistics and private research bodies that analyze global market statistics. So, once again, these estimates may not fully reflect the employment prospects when narrowed down to a particular market or location. However, they are a good indicator of the general market situation in the global finance industry.
Conclusion
While this post is based on our internal database findings, it is a good reflection of the current employment situation in the finance industry. As most routine tasks are getting automated, the demand for high-skilled experts with a thorough industry understanding keeps growing. The situation is set to continue in 2025 and, possibly, beyond because today’s digital transformation of business is still gaining momentum.
At the same time, this article presents a global analysis without consideration of regional specifics. If you would like to find out which markets offer the best career opportunities for qualified experts, check out our analytics on the best cities for finance jobs around the world. Similarly to this post, it analyzes factual recruiters’ searches, filtered by location rather than by job title. And, of course, check in for more industry updates on our blogs – with today’s economic pace, more news is on its way!
