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Real Business : Autumn 2008
So which industries will be most in need of finance professionals in the future? Gottliebsen says the biggest driver of change over the next 20 years will be the role of carbon and cheap energy. "The successful industries will be those that succeed in trans- ferring from carbon to non-carbon energy," he says. Globally, Hammond believes energy, raw materials, leisure and entertainment, sport, medicine, finance and government will be the industries most in demand of finance and accounting professionals. In Australia, Salt says: "I'd want to be in transportation, warehousing and logistics, information, entertainment and communi- cations, medical technology, biotechnology, energy and resources." He says a sector may and regulations governing business, and a changing of the guard in financial hubs. "The financial centres will be Hong Kong and London," he says. "New York will have declined by that time." Salt agrees that China will be centre stage. "The growth in financial jobs will be in Shanghai, Hong Kong and Dubai," he says. He also predicts the emergence of a financial base in Eastern Europe. "With the opening up of Russia, it's probably going to be Moscow," Salt says. "There needs to be a financial services hub that speaks Russian and com- municates with the vast and growing popu- lation that controls extraordinary resource bases, and which currently must rely on capital markets in other cou ntries." emerge that no one has even thought about yet. Salt advises graduates to prepare to transition in and out of industry sectors. There are 123,000 working accountants in Australia, a figure that is growing at a rate of 3000 per year. "There's no let-up in the demand for skills in the management, manipulation, sorting and measurement of money," says Salt. "It's a good, global business to be in and the skills are extraordinarily transferable." Not that finance professionals should get com- placent, warn the experts. "We've had a time of huge asset appreciation," says Gottliebsen. "In the next five years, we're going to see a downturn of some magnitude." Gorton says this is all the more reason to stock your toolkit with the skills employers will most value in the down times. "In a more candidate-competitive market," she says, "it will be all about your commercial skills, communication skills and your ability to analyse the financials and com- municate those to the business." n n Think global. You could be working in London or Hong Kong but still live in Australia, and vice versa. n Read the business press to keep on top of industry information and look for new growth sectors. Check out free sites such as www.businessspectator.com.au n Don't take a job for the sake of it or for the name of the company. Be strategic about your career. Look for opportunities to develop skills in communication, analysis and understanding commercial operations. n Prepare for a downturn. Equip yourself with the skills employers value and don't be afraid to jump industry sectors. FUTURE-PROOF YOUR CAREER NET GAINS CPA Australia president Alex Malley FCPA and leading futurologist Ray Hammond discuss how technology will affect finance in the future www.cpaaustralia. com.au/links?1017_24819 We provide: • FREE UK MOBILE SIM & A-Z GUIDE • Work permits & sponsorship • Employment options & advice • International relocation services • FREE personalised webspace It’s never too early to think about your overseas experience. MyOE assists professionals wanting overseas experience. We exist to make your OE hassle free, and best of all it’s totally FREE! www.myOE.com/realbusiness