A majority of U.S. banks plan to add staff this year even as they contend with increased compliance and health care costs, according to an industry survey.
The survey, conducted by Angott Search Group of Rochester, Mich., found that 94% of bank respondents plan to bring in more company employees within the next six months. Roughly one-third of those banks said that they are hiring for new positions while the rest said that they are looking to fill open ones.
Banks are particularly eager to bulk up in business lending, with 45% saying they are looking to hire commercial loan officers.
To be sure, many banks remain are trimming staff in an effort to become more efficient, but they remain eager to expand in targeted areas, such as wealth management and commercial lending. A case in point: 45% of the banks surveyed said they are looking to hire more commercial lenders.
Indeed, in some areas of banking, job candidates are receiving as many as four competing offers, Angott Search Group said in the report released Wednesday.
Brian Rhonemus, managing director of the financial services practice at Angott Search Group, said that banks are "cautiously optimistic" about the direction of the economy, but he noted that regulatory burdens and the Affordable Healthcare Act and causing some banks "to be extremely careful when hiring."