01 Jan 2016 17:24 IST

Wall Street’s in-demand positions next year

Plunging oil prices and the Fed rate hike are creating opportunities for some categories of bankers

Job cuts and smaller bonuses dominated Wall Street related headlines this year, but pockets of industry are still booming. Plunging oil prices, the Fed Reserve’s first rate increase in seven years and the caving of junk-rated debt are creating opportunities for certain categories of bankers and traders, says Bloomberg. Analysts, recruiters and executives consider these to be the best jobs to have in 2016:

Oil and gas bankers, as the oil sector is ready for the next wave of consolidation;

Restructuring bankers: Rising defaults, wider spreads on high-yield debt and rising interest rates mean restructuring desks have a big year ahead;

Rates traders, because trading in government bonds and related instruments will remain strong in 2016 as the Fed tightens monetary policy while the European Central Bank loosens it;

Electronic trading personnel, as banks need traders and quants to create and tweak platforms that help clients make and manage bets across assets and markets;

Financial technology: Next year, more banks will unveil pilot programmes that automate investment management and make use of technology based on bitcoins blockchain, the software ledger that can speed up financial transactions.

Corporate Finance: While investors have shown heightened skittishness this month about holding risky corporate debt such as leveraged loans, some areas of corporate financing are expected to flourish next year.

Wealth management: Top-producing financial advisers have never been more in demand. The steady revenue and cross-selling opportunities of wealthy clients are highly valued by banks grappling with higher costs for trading businesses.

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