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Finance

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Finance could be the ideal career path for you if you have strong communication and numeracy skills, a methodical approach to work, and an interest in business.

There are many different routes into the industry, from school leaver programmes and Modern Apprenticeships to graduate and postgraduate training programmes.

Scotland is the second largest financial centre in the UK after London, and one of the leading financial centres in Europe. It’s also one of the world’s largest fund management centres. The financial and insurance services sector employs around 86,200 people in Scotland.

What areas can I work in?

Finance includes: accountancy, banking and building societies, financial planning, insurance, investment management and pensions.

The industry includes a wide range of different careers and areas of work including: sales, customer service, IT, financial advice, management, administration and business support.

What kind of companies can I work for?

Financial services workers operate in many different industries and organisations, from local government to chemical engineering plants.

Types of companies directly relating to the finance industry include:

What’s the job market like?

The main centres for the industry in Scotland are Glasgow, Edinburgh, Perth, Stirling, Dundee and Aberdeen.

Glasgow and Edinburgh are our two most important financial centres. Edinburgh has large banking, pensions and investment management sectors. Glasgow has particular strengths in insurance and accountancy.

In 2015, there were 36,700 financial services jobs in Edinburgh and 23,400 jobs in Glasgow.

According to analysis of graduate vacancies with the UK's top employers, by High Fliers Research, there is a decrease in recruitment targets for 2017. For accounting and professional services the target is down by 8.4%, for banking and finance it is down by 2.5 % and for investment banking, down by 3.2%.

However, Working Futures, a ten year study by the UK Commission for Employment and Skills, suggests that total employment in financial services in Scotland is expected to grow in the period 2012-2022. It states that there will be 47,500 job opportunities, including new posts (expansion demand) and existing posts required to be filled due to people leaving the industry.

Facts and figures

Want to find out more?

Depending on the area of finance you want to go into, you can find useful information on education, qualifications and careers on the following websites: ICAS; Chartered Banker; the Chartered Institute of Public Finance and Accountancy; and the Chartered Insurance Institute

Sources

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