The Council for Adult and Experiential Learning and JPMorgan Chase & Co. (NYSE:JPM) have launched a search tool aimed at helping fill thousands of positions that are available in New York City’s financial sector. BankingOnMyCareer.com will assist New Yorkers to find middle-skilled jobs in financial services. Since 2010 such financial services jobs have increased by approximately 6%.
Getting such jobs requires less training than an undergraduate degree but more training than what is offered by a high school diploma. At the moment there are 7,500 such jobs in New York.
“We want New Yorkers to know there are thousands of good-paying job opportunities in the financial services sector just waiting to be filled by middle-skilled workers,” JPMorgan Chase’s workforce initiatives head, Chauncy Lennon, said.
On the BankingOnMyCareer.com website some of the jobs available include an analyst for anti-money laundering which offers an annual salary of between $60,000 and $80,000. There are also positions for customer service representatives and the annual pay ranges between $28,000 and $36,000. Other careers include financial advisors and mortgage assistants.
Besides Council for Adult and Experiential Learning and JPMorgan, other partners in the search tool initiative include a nonprofit which represents business in New York known as Partnership for NYC and City University of New York. JPMorgan contributed $580,000 towards the project.
In the Big Apple, the financial services sector contributes approximately one million jobs, both directly and indirectly. Two years ago the sector contributed taxes amounting to $8 billion to the annual budget of the city. The financial services sector also represents approximately 39% of the economic output of New York City. This is about $276 billion.
To address the existing skills gap, the lender has committed $350 million towards diverse initiatives. This comes at a time when businesses in the United States are struggling to find employees in jobs that pay well but where a high-school diploma is not adequate. The chief executive officer of JPMorgan, Jamie Dimon, has previously raised concerns over the issue.
On Wednesday shares of JPMorgan Chase fell by 0.34% to close the day at $92.51