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Financial and
Professional Services


Making Business Work for You

Financial & Professional Services is the sector with the largest number of employee jobs in Wales.  It is particularly strong in South Wales with financial centres in Cardiff, Swansea and Newport. Wales’ reputation is strong in this sector.

Wales’ Financial and Professional Services sector includes:

Retail Banking
Wealth Management
Advisory Services
Corporate Services
Lending
General Insurance
Life Insurance
Legal jobs
Human Resources
Architects
Asset Finance
Pensions
Accountancy
Tax Services


Businesses would not be able to work without finance and professional services, from day to day banking, insurance, tax advice, lending and pensions, to architects, lawyers and human resources. These services help to support businesses to improve productivity


Over 50% of financial and professional services businesses are self employed 
(WG Priority sector stats 2016)

Wales will need over 50,000 people in Finance, Insurance and Professional Services by 2022
(Working Futures, 2014-2024)

Business, Professional Services and Information Technology (IT) are expected to be the strongest growing UK jobs by 2024
(UKCES, 2016)

Wales aims to be the most competitive region in the UK for Financial and Professional Services outside of London by 2021 
(Welsh Government, 2016)






Nearly 8.5% of the workforce in Wales is employed in the sector.
 That’s 1 in every 12 jobs
(Welsh Government, 2015)

 


Employment Hotspots

Cardiff

 42,000

 

Swansea
13,200

 

Newport
7,900

 

Flintshire
6,100

 

Wrexham
6,000

 

Rhondda Cynon Taf
6,000

 

Bridgend
5,600

 

The Vale of Glamorgan
5,000

 

Powys
4,900

 

Carmarthenshire
4,900

 

Monmouthshire
4,800

 

Gwynedd
4,000

 

Denbighshire
3,500

 

Conwy
3,300

 

Neath Port Talbot
3,300

 

Caerphilly
3,100

 

Torfaen
3,100

 

Ceredigion
2,800

 

Pembrokeshire
2,300

 

Merthyr Tydfil
1,900

 

Isle of Anglesey
1,400

 

Blaenau Gwent
1,100

 

Source: Welsh Government, 2015

Half of Wales' 140,000 skilled Financial and Professional Services workers are based in the Cardiff region.
(Business Wales, 2016)


Wales has become the European centre for web enabled customer comparison sites with headquarters for Moneysupermarket.com, Go Compare and Confused.com
(Welsh Government, 2016)


In South East Wales
25%
of Financial Services
training is ‘on the job’ only.
(LSIP, 2016)



Meet the Employers

These are some of the Financial and Professional Services employers in Wales:

HSBC
Bangor Commercial Centre


Admiral
Cardiff, Swansea, Newport


Deloitte
Cardiff 

Money Supermarket
Flintshire


Legal  & General
Cardiff


Lloyds
Cardiff


Principality
Cardiff


What can I earn?

Salaries can vary depending on your experience, the employer and where you live. Higher salaries can be awarded for more senior positions. Salaries also vary for self-employed workers.

Job Salary range dependent on experience (£)


£13,000 - £23,000


£13,000 - £35,000


£14,500 - £23,500


£15,000 - £28,000


£16,000 - £32,000


£16,000 - £55,000


£18,000 - £32,000


£18,000 - £33,000


£19,000 - £80,000


£20,000 - £45,500


£20,000 - £60,000


£20,000 - £80,000


£22,000 - £55,000


£22,000 - £75,000


£22,500 - £60,000


£22,500 - £60,000


£23,000 - £70,000


£23,000 - £150,000


£24,000 - £75,000


£25,000 - £55,000


£25,000 - £70,000


£30,000 - £60,000



Source: CASCAiD, 2015


 

Getting in

The Financial and Professional Services sector has jobs at all levels, from those suitable for school leavers to higher skilled jobs that require a degree or higher level qualification.

Apprenticeships are a great way of getting into the Financial and Professional Services sector. You can start at an entry level or can work towards a higher level degree as part of your apprenticeship.

  • AAT Level 2 Certificate in Accounting
  • AAT Level 3 and 4 Diploma in Accounting
  • Level 3 Trainee Accountant Technician
  • Level 3 Finance, Risk and Investment
  • Level 4 Higher Apprenticeship

Search for Apprenticeships Find a course

Tip
Apprenticeships are a great way to get experience with an employer while you work towards qualifications. You can even study towards a degree as part of your Financial and Professional Services apprenticeship.

Tip
Remember to use Social Media! Many employers have their own Twitter, Facebook and LinkedIn pages so advertise jobs there. Just remember that they could also see yourTwitter feed or Facebook wall, so be careful what’s on there!

Companies in the sector create jobs requiring high skills. For more professional jobs within the sector, employers will look for a higher skill level so you might need a degree qualification.

The ‘big four’ accounting firms, PwC, Deloitte, KPMG and Ernst & Young are all in the top ten of the Times Top 100 Graduate Employers 2014. (Source: Times Top 100 Graduate Employers 2014-15). All have offices in Wales.

Here are are some of the degrees you could do:

  • BA (Hons) In Management and Business
  • BSc (Hons) Financial Planning, Investment and Risk
  • BA (Econ) Accounting in Finance
  • BA (Hons) Human Resource Management
  • LLB (Hons) Law
  • Architecture (BSc/MArch)
  • MSc Finance and Investment

Try our Career Search Find a HE course

Get Networking!

Networking and word of mouth are important in the Financial and Professional Services Sector. Get to know other people and businesses, face-to-face and through social media
Build your network of contacts to sell yourself and your ideas.

Network! Network! Network!

Get experience!

Get as much work experience as you can. Lack of general work experience is one of the top 3 reasons employers give for not employing someone.


55% Financial and Professional workers have the equivalent of a Level 4 qualification or above. 
For example, a Higher National Certificate (HNC)


 

Skills in demand

You will need to be well organised and have the ability to prioritise work.

Employers will look for candidates with the following skills:

  • Organisational Skills
  • Numeracy Skills
  • Ability to pay close attention to detail
  • IT Skills
  • Problem Solving
  • Time Management
  • Excellent Communication Skills
  • Confidence and the ability to make decisions
  • Ability to Prioritise
  • Being able to analyse and Interpret data

Businesses are using technology to respond to new regulations and changes in the market so be prepared to deal with change. Security is always a high priority in this sector and technology is used to protect individuals and businesses.

New in Sector..

Financial and professional services is a key sector, particularly in South Wales. Look out for jobs from new developments in the sector. Here are just a few of the latest developments:

  • Cardiff Central Enterprise Zone is a new 140 acre business district which will focus on Financial & Professional Services, ICT, Creative Industries.
  • Wrexham Gateway includes a new £15m Moneypenny Head Office.
  • The Welsh Actuarial Society was launched in September 2016 This aims to raise the profile of the profession in Wales.
  • Big data - collecting large data to analyse for the benefit of businesses.



Do I need Welsh Language skills?

If you work in Wales, being able to speak and write in both Welsh and English can give you an advantage in the workplace, particularly if you are working in Welsh speaking areas.

In the Finance, Insurance and Professional Services sector

 14%
of the people who work in the Financial and Professional Services workforce are Welsh Speaking
(Census, 2011)


What about the future?

Fastest growing Finance, Insurance and Professional Services jobs in Wales, shown in percentage of growth.

 Insurance Underwriters
37%


 Financial Institution Managers and Directors
31%


 Estate Agents and Auctioneers
23%


 Advertising Accounts Managers
23%


 Brokers
22%


 Call Centre Occupations
22%


 Property Managers
21%


 Finance Analysts and Advisers
20%


 Industrial Cleaners
20%


 Quality Assurance Professionals
20%


 Market Research Interviewers
19%


 Financial Managers
19%


 Purchasing Managers
19%


 Barristers and Judges
18%


 Buyers
17%


 Financial Accounts Managers
16%


 Advertising and PR Directors
16%


 Estimators and Assessors
16%



 Average overall predicted growth in Wales
4%


Source: Working Futures 2014-2024


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