Trends related to different areas of study and job markets can be easily identified by the general perception of people. Most of the people determine their careers by means of these trends. In current time, studies involving business administration, specifically in the areas of finance are considered productive and for this reason most of the people are oriented towards this job. With the advent of different software related to accounting and finance, the tasks in this field are facilitated and the people can easily conduct their day to day activities. However, with the passage of time it is also identified that job market announcing finance related vacancies is reaching towards the maturity stage and there are very limited opportunities available in the financial sector. The reasons are described as follows:
Graduates in Finance Field
As described earlier, people follow the trends. For this reason most of the students have selected finance as their major subjects and when they successfully graduate in this subject, they expect to get jobs instantly. However, very limited companies prefer fresh graduates and they want experienced professionals to be hired in their finance department. There is a large number of graduates available in job markets whereas the opportunities provided to them are very limited. Hence the demand and supply gap creates unemployment and it can be said that jobs in the financial sector are declining.
Implementation of Software
There is various accounting software which has provided ease to the finance managers to perform their tasks instantly. The software further eliminates the needs of more accounting professionals and now a person can easily operate the entire software with ease. Hence the technological advancements have further reduced the level of jobs in this specific field.
Unemployment as a Major Threat for Workers
Job opportunities are created whenever the current workforce has a high turnover rate, or the companies intend to flourish. The unemployment rate is very high and the workers prefer not to leave jobs unless they find better opportunities. Unemployment is one of the major threats for the workers and therefore they prefer not to leave their jobs. Hence the demand and supply gap of the workers has created the gap for employees especially in the financial sector. Hence it can be concluded that the scope of jobs in areas of finance is very limited. Before selecting any career, a person must understand the scope of available jobs and their growth potential, in order to proceed successfully.