Why is the turnover rate small but large?

The turnover rate in the finance industry can be small or large depending on the specific sector within finance and the economic conditions at a given time. Generally, the turnover rate is small in the finance industry because of the nature of the work and the high level of expertise and education required to be successful in the industry. Finance professionals often have specialized knowledge and skills that are not easily transferable to other industries, which can make it more difficult for employees to leave their current positions. Additionally, the finance industry is known for offering competitive salaries and benefits, which can make it more attractive for employees to stay in their current roles. This, in turn, can lead to a lower turnover rate. Furthermore, the finance industry often has a more established and traditional corporate culture, which can also contribute to lower turnover rates as employees may be more likely to stay with their current employer for longer periods of time. On the other hand, the turnover rate in finance can also be large in certain sectors due to the fast-paced, high-pressure environment of the industry. For example, investment banking and trading roles often have higher turnover rates due to the long hours, high stress, and demanding work environment. Additionally, the finance industry is heavily influenced by market fluctuations and economic conditions, which can impact the stability of certain roles and lead to higher turnover rates during periods of economic uncertainty. Overall, the turnover rate in the finance industry can be both small and large depending on the specific role, sector, and economic conditions. While certain factors such as competitive salaries and specialized skills can contribute to a lower turnover rate, the demanding nature of certain roles and the influence of market conditions can also lead to higher turnover rates in the industry.