) -- Expect Wall Street to be hiring in technology, sales and wealth management come 2011.
says that recruitment activity will improve on Wall Street next year. While there are currently 1,522 jobs opportunities in the U.S., hiring is currently greater in the UK and Asia, according to the study.
The recruiting firm says that now the economy has improved many financial services companies will be focusing on building up their sales staffs in equities, foreign exchange and derivatives.
As a result, job postings in sales have increased by 33 percent year over year, the study reveals.
As Dodd Frank is implemented, many Wall Street banks will also be hiring in their technology departments as they look comply with new regulations. Technology job opportunities are up 75 percent year over year.
Wealth management will also be a hot area as financial institutions diversify businesses and need more help managing assets.
"My interpretation on wealth management is as s the environment continues to get more stable it gives firms more confidence to consumers to build wealth and there will be real need in this area this year," said Constance Melrose, managing director eFinancialCareers North America.
JP Morgan Chase
are some of the financial institutions that have posted jobs on eFinancialCareers' site.
Even though these are the hot areas for hire Melrose says there will be continued hiring in banking. Currently, operations, fixed/debt income and capital markets are in demand. Of those operations hiring is the greatest in need. The sector has picked up 215 percent year over year.
Melrose also expects a lot of turnover in the New Year due to bonus expectations.
"We see half of the financial industry community expecting their bonuses to be up year over year. I think this will lead to turnover because not everyone will be rewarded at the levels they want," she says "Firms will have to show more differentiation in terms of how they award bonuses," said Melrose.
--Written by Maria Woehr in New York.
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