Thinking of a career in finance?

by Justin on Dec 12, 2008

Think again.

With the recent financial crisis and subsequent layoffs, there is massive oversupply in the finance industry.

"Sydney headhunters are experiencing a wave of new interest as the global financial crisis impacts on the CBD." - Source

Applicants for jobs in the Australian financial industry are streaming in from the US, UK and around Australia thanks to wave after wave of layoffs. I'd also predict that engineers will be in huge oversupply as well - so to all of those commerce/engineering students (of which there are many thanks to the mining boom), I'd consider a different profession, at least until the commodity prices stabilise and we're out of recession. It's not a good industry to be going into during a downturn!

Finally, I'll leave you with this - as Paul Krugman described it, the "...truth about economists and the financial crisis".

Economists and the financial crisis
Economists and the financial crisis
 

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