The finance industry now ranks as the top career choice for Gen Z job candidates in the US, according to a report by Glider AI. The organization found that 56,478 jobs remain open across major US financial institutions, signifying demand for roles that span the spectrum from technology to sales.

Citing the CFA Institute’s research, the report noted the finance industry moved upward from its fifth-place position in 2021 to the top career spot in 2023.

Two factors have contributed to finance claiming the No. 1 spot, according to the report. They are the reported employee burnout in the healthcare industry and overhiring and mass layoffs by tech companies.

“While finance is not immune to market challenges, the perception of how the industry mitigated recent challenges is seen positively among Gen Z,” according to the report.

The organization noted the heightened popularity of a career in finance among Gen Z creates a significant challenge for recruiters focused on the finance industry. According to the report, as more candidates look to the finance industry, many talent acquisition executives are beginning to embrace new hiring strategies, including skills-based hiring, AI-driven recruitment and skills empowerment.