Jessica O'ConnorMore than half of UK adults said they would not consider working in the financial services industry, according to research from specialist lender Market Financial Solutions (MFS).
The independent survey of 2,000 UK adults found that 55% of people would not consider a career in financial services.
Among those unwilling to work in the industry, 33% said they felt they lacked the necessary skills or qualifications.
A further 26% viewed the sector as too corporate or rigid, 25% considered it boring, and 24% believed the work would be too stressful.
Some respondents also highlighted a lack of understanding: 10% said they do not know what careers are available in the sector, while 8% said they are unclear on what ‘financial services’ actually encompass.
The research also suggested a generational divide. While 60% of adults aged 18 to 34 said they would consider a financial services career, this fell to just 29% among those aged 55 and over.
Paresh Raja, CEO of Market Financial Solutions, said: “The UK has a world-leading financial services sector, with over a million people across the country employed in this industry. But our research shows that financial services companies are still facing some serious challenges when looking to attract and retain the best talent.
“Clearly, many people outside the sector deem financial services to be too confusing, rigid or stressful to consider working in it. For me, the data highlights that the industry needs to do more to educate people about the opportunities the sector can provide them, particularly given the sheer breadth of exciting roles available in all sorts of finance companies.
“We need to break down the barriers and show people that financial services careers can be exciting and rewarding, no matter their background, qualifications, or personal ambitions.”
