New Jobs in Banking and Possibly Beyond

Recruiters know that hiring practices are complicated things to predict.  A company may continue hiring new employees even when facing great pressure from public media or private investors.

A curious, contemporary example of this potentially incongruous-seeming influx of hiring is currently seen in the actions of financial institutions.   Although the crash of the housing market disrupted business as usual for banks in this country, Bank of America and Wells Fargo are hiring an increasing number of employees.

Bank of America, for instance, hired new 4,000 employees this year.  Wells Fargo offered 4,900 workers jobs with their company.  Recruiters may guess correctly that some of these new jobs are in response to the new regulations of the financial industry.  Other positions are in keeping with the banks’ traditional lines of work.

Perhaps this growth in hiring in large banks will enable the creation of other new jobs. Hopefully, new jobs in the banking sector coupled with loosening lending standards will be a catalyst for other businesses.

Consumer and Small Business Banking exec for Bank of America, Joe Price, stated, “As one of the nation’s largest financial services providers, Bank of America is actively engaged in fostering the growth of small business. With the creation of this role, we are responding directly to what our customers have asked for – local small business experts who provide small businesses with the financial solutions necessary to sustain and grow their business.”