Hiring Banking Talent in a Tight Market

Some open roles can wait. Finance and banking roles usually can’t. When a controller, loan officer, or compliance position stays open too long, other employees take on extra responsibilities, important work gets delayed, and serving customers becomes harder. 

Qualified talent is hard to find, and competition for experienced banking professionals is strong. Employers who understand today’s market and move decisively are more likely to secure the candidates they want. 

Why Finance and Banking Talent Is Hard to Find Right Now 

Hiring in finance and banking has gotten more competitive in recent years. Here’s why. 

The industry is growing fast. Financial and professional services is now the leading driver of Montana’s economic production, generating more than 60 percent of the state’s real GDP growth last year alone.¹ As the industry expands, employers need to fill more roles every year, and they’re often competing for the same small pool of skilled workers. 

Pay is more competitive than in other industries. Montana’s financial and professional services sector paid an average annual wage of $73,610 in 2024, well above the statewide average of $60,037 across all industries.¹ Real wages in this sector have also grown faster than the state average since 2020, driven by tight labor markets and rising demand for specialized skills.¹ That means employers need to offer strong, well-benchmarked pay just to get noticed by qualified candidates. 

The right skills are hard to find. Many finance and banking roles require specialized training or credentials. Across the broader financial and professional services sector, Montana expects more than 6,700 job openings a year over the next decade, with about one-third requiring a certification or college degree.¹ Even roles without a formal degree requirement often demand real, specific experience, which narrows the candidate pool fast. 

Put it together, and it’s easy to see why finance and banking jobs are hard to fill. Strong wages drive up competition, and specialized skill requirements shrink the pool of qualified candidates even further.

How to Hire Finance and Banking Roles in a Tight Market 

A tight market doesn’t mean you can’t hire well. It means your approach has to be sharper than your competitors’. 

1. Benchmark pay before you post the role. If your pay falls below market, strong candidates will look elsewhere. Compare your pay to current wage data for the same role in your area before you post. Setting the right pay from the start helps attract stronger applicants and can shorten your time to hire.
2. Move quickly when you find the right candidate. Strong finance candidates don’t stay on the market long. If your hiring process takes weeks to clear interviews and approvals, another employer may get there first. Once you find a strong fit, move through your process as fast as you reasonably can.
3. Look beyond job boards. Many skilled finance professionals already have jobs and aren’t browsing listings. If you only post and wait, you’ll miss a large share of qualified candidates. Referrals, networking, and direct outreach are often the better path to passive candidates who’d consider the right opportunity.
4. Explain why the role matters. Pay isn’t the only reason people change jobs. Be clear about what the role involves day to day, how it supports the business, and what growth looks like from there. Many finance professionals want meaningful work and a real career path, not just a bigger number.
5. Expand your search area. If your local talent pool is thin, look beyond it. Remote or hybrid options can open the door to qualified candidates in nearby cities or states, giving you a wider bench to choose from.

Employers who combine these steps, competitive pay, fast timelines, and a wider search, tend to close the specialized hires that slower competitors lose. But even with the right approach, finance and banking hiring often benefits from outside expertise. A staffing partner who knows the finance and banking space can spot candidates with the right technical background, from compliance to lending, and reach passive candidates who wouldn’t respond to a job posting alone. 

Build Your Finance Team With LC Staffing 

Finance and banking roles are among the hardest to fill and the most expensive to leave open. LC Staffing recruits banking and financial services talent across Montana, Utah, and the broader Mountain West. Reach us through our contact form. Let’s start a conversation about building your finance team with candidates who fit both the technical bar and your culture. 

Reference: 

1. Montana Department of Labor and Industry. “Montana’s Financial and Professional Services Sector Sets Record, Driving Growth and Opportunity.” 2 Apr. 2026, news.mt.gov/Department-of-Labor-and-Industry/financial-professional-sectors-record-growth.