Q1 2017
January-March
BUSINESS & FINANCE OCCUPATION GROUP Oakland County
Business & Finance
Introduction Jobs in the Business and Finance occupation group can be found in nearly every type of business and industry. These workers need strong mathematical and accounting abilities along with project management and planning skills. Workers in this occupation group are in high demand in southeast Michigan.
Online Job Postings
Job Posting Analysis Online job postings for occupations related to Business and Finance grew by 311 ads from 3,053 in the final quarter of 2016 to 3,364 jobs in Q1 2017, a 10 percent growth. While in general, postings for this group have remained quite high, there has been some volatility in the exact number of ads.
Data: Burning Glass Technologies Analysis: Workforce Intelligence Network
Employment Over Time Quarter 1 2017
Employment Analysis Employment of Business and Finance workers increased to 42,209 workers between 2016 and 2017, a 10.6 percent change. While this occupation group has not yet surpassed 2004 levels of employment, growth has been strong and consistent since 2010. It is likely that this pattern will continue due to the steady number of postings. Data: EMSI Analysis: Workforce Intelligence Network
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Human Resource Specialists most in-demand job
443 newly employed individuals Business & Finance Top Jobs Quarter 1 2017
Analysis The top jobs in Oakland County remained relatively uniform with the previous quarter. Employer demand remained particularly high for human resource specialists (533 postings). Other top positions within the industry group include management analysts (452 postings) accountants (399 postings), and financial analysts (307 postings). Data: Burning Glass Technologies Analysis: Workforce Intelligence Network
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10% In-demand education: Bachelor's degree
Business & Finance Education and Experience Business and finance employers overwhelmingly prefer workers with a bachelor’s degree. Among postings specifying education requirements, 78 percent list this as a desired qualification. Another 20 percent of jobs desiring only a high-school, vocational training, or an associate’s degree, provide more flexibility to potential employees. Only 38 of the 2,595 job ads desired seek graduate or professional degrees. Of the job postings stating a specific level of experience, just over half (1,088) of employers prefer between 3 and 5 years of relevant work. Following closely, entry level positions (0 to 2 years) comprised 37% or 810 of the overall postings in finance. About 12 percent of employer’s desire candidates with 6 or more years of experience, and are likely seeking to fill supervisory or management roles.
increase in employer demand
In-Demand Areas of Study • • • • •
Business Administration and Management Accounting Finance Engineering Human Resource Development
Educational Attainment
Data: Burning Glass Technologies Analysis: Workforce Intelligence Network
Experience Required
Data: Burning Glass Technologies Analysis: Workforce Intelligence Network
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In-demand Certifications: CPA, Series 7
In-demand degrees: Business Administraiton, Accounting
Business & Finance In-Demand Skills The most often advertised baseline and specialized skills for Business and Finance occupations demonstrate that Oakland County employers seek workers with well-rounded foundational skills along with expertise in a specific, specialized skill. In addition to knowledge in accounting or financial analysis, Business and Finance professionals need to also have strong communication, writing, and problem-solving skills.
Technical In-Demand Skills • • • • •
Microsoft Office Accounting/Budgeting Customer Service Project Management Purchasing
Job Type • • •
Temporary: 6.0% Full-time: 60.1% Part-time: 1.5%
Foundational In-Demand Skills • • • • •
Communication Skills Writing Organizational Skills/Detail-Oriented Problem Solving Planning/Research
Certifications Required Certified Public Accountant (CPA) Series 7 Mortgage License American Board for Engineering and Technology (ABET) Accredited • Project Management Certification (E.G. PMP) • • • •
Data: Burning Glass Technologies Analysis: Workforce Intelligence Network 4
Highest-paying profession: Management Analysts
Business & Finance Wages
Average advertised salary: $61,262
Advertised Wages in Job Postings Quarter 1 2017
Annual salaries varied among the 533 online job postings which advertised wage data, but were generally on the high end. 64 percent of these offered over $50,000 annually, and the mean real-time salary posted was $61,262. Median wages for topposted occupations this quarter were also all over $20 hourly.
Data: Burning Glass Technologies Analysis: Workforce Intelligence Network
Wage Data from Bureau of Labor Statistics 2016
Data: EMSI, BLS Analysis: Workforce Intelligence Network
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