Sales Agents, Financial Services

Job Outlook

Employment of securities, commodities, and financial services sales agents is projected to grow 4 percent from 2018 to 2028, about as fast as the average for all occupations. Services that investment bankers provide, such as helping with initial public offerings and mergers and acquisitions, will continue to be in demand as the economy grows. The United States remains an international financial center, meaning that the economic growth of countries around the world will contribute to employment growth in the American financial industry. An aging population and the decline of traditional pensions may boost demand for these workers, as individuals approaching retirement seek brokers to facilitate securities purchases.  However, continuing consolidation in the financial services industry is projected to slow employment growth for these workers over the next decade. In addition, automated trading systems have reduced demand for securities traders. Because simpler stock purchases can be made online without a broker, financial firms will focus on hiring sales agents with specialized areas of expertise and strong customer-service skills.  Financial regulation, including restrictions on proprietary trading, has shifted employment among traders from investment banks to hedge funds; however, this shift should not affect overall employment growth for the occupation.