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Professionals school grads on finance jobs in recent survey

A recent survey conducted by Job search engine OneWire polled finance industry

A recent survey conducted by Job search engine OneWire polled finance industry professionals, and asked for their perception of the field and if they would advise recent grads to go into their field, according to a statement.

OneWire's May 2012 candidate survey polled close to 500 people looking for finance jobs and asked them if they would recommend that recent graduates enter the sector given the changes it has undergone in the last few years.

The number of people advising for people entering the field and the fraction of respondents advising against was very similar. More-than half, or 51.5 of participants, indicated they would recommend recent graduates enter the sector, whereas 48.5 percent advised against.

Of the individuals who advised against the recent grads joining the sector, 40.6 percent specified lack of job stability as the motivator for their recommendation. The second-largest reason cited for not going into the industry was a different perception of the industry, which was identified by 21.1 percent of respondents.

The next highest-ranking cause for avoiding the finance sector was declining compensation, which was cited by 14.5 percent of participants. A little more than one-tenth, or 10.1 percent identified more stringent regulations as their motivation for suggesting that recent graduates look into different industries. The 13.7 percent of respondents who selected "other" as their reason for avoiding the sector were asked to explain.

Some indicated that they advised against new graduates from working in the industry as a result of all the factors cited by the various respondents. Others noted the competitive nature of working in the industry due to layoffs and outsourcing, an inadequate work-life balance and decreased opportunities for mobility.

"The results of the candidate survey were fascinating, indicating that half of current financial services candidates would recommend that new graduates avoid entering the field," Brin McCagg, president and chief operating officer of OneWire, said in the statement. "As the leading reason is due to lack of job stability, it is clear that the effects of the economic crisis still resonate and have created the perception of volatility in the financial services job market. OneWire aims to improve this perception by ensuring financial professionals are matched to companies and positions for which they are most qualified."

The New York Times recently reported that of the four 2012 valedictorians of Dartmouth College, three were heading to finance positions. This was interpreted by some as evidence that finance is still alluring to top students getting out of school.