Accounting giant Ernst and Young will be hiring hundreds for accounting jobs in Chicago.

The company is recruiting for all experience levels and will be looking for to fill a variety of positions.

Chicago Mayor Rahm Emanuel announced the jobs on Tuesday and said the firm will kick off its hiring strategies as soon as possible.

Ernst and Young vice chair and managing partner Tony Anderson called Chicago a “great home and engaging market” for his company.

The firm hopes to have all positions filled by June.

The announcement is sure to boost the number of Illinois jobs.

Recently Ernst & Young LLP announced that it has been named among Consulting magazine’s “Best Firms to Work For” for 2011. Ranked on the list for the first time ever, the firm has the highest debut at 11th place among the list of consulting companies. The results are based on a survey of more than 13,000 respondents representing approximately 350 organizations.

Ernst & Young LLP also ranks third in the “Multi-Service firms” category, one of six different types of firms including Multi-Service, Operations Management, Human Resources, Strategy, Financial Advisory and IT Consulting.

“We are proud to have received a number of ‘Best Of’ honors, but the Best Firms award is especially meaningful because it’s based on the responses of our people,” said Bob Patton, Ernst & Young LLP’s Americas Advisory Vice Chair. “Our people culture is truly our ‘bottled lightning’ that sets us apart and drives our success. It underscores the commitment our people have to delivering exceptional client service and reinforces the pride our people have in making a difference for each client.”

With the shutdown of Ravenswood Bank, it appears more financial jobs in Chicago were eliminated.

The Chicago-based lender was just acquired by Northbrook Bank and Trust. According to a statement posted on the FDIC website, the Ravenswood aquisition was worth about $270 million in deposits and two branches.

The failure cost the FDIC’s deposit-insurance fund $68.1 million.
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Nearly 1,000 Chicago area jobs will be lost at two of the city’s top companies. Click here to see profiles of more top companies.

About 900 jobs total will be cut at Discover Financial Services and ArcelorMittal, according to an article by the Chicago Tribune.

Discover plans to cut about 500 jobs, mostly at the company’s headquarters, to help better align its cost structure. The layoffs are expected to effect all departments within the company, but not many will involve employees who deal with customers. The company currently employs less than 3,000 workers in Riverwoods, a Chicago suburb, and has about 12,000 workers throughout seven states.

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Despite problems on Wall Street and in other corners of the country, people are finding many opportunities for Chicago finance jobs.

According to a recent article in the Chicago Tribune, finance jobs in Chicago have remained strong-and even continue to hire new employees-despite the fact the city’s unemployment rate rose to 6.8 percent in June. Job postings for trading firms in the city can offer salaries as high as $600,000, while the average Chicago wage equals $45,710.

Mesirow Financial, based in Chicago, has entered discussions with more than 30 traders, bankers and investment managers. The firm also recently hired executives who previously worked for Bear Stearns Co., including the head of the company’s municipal bonds desk.

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Economic issues have forced the job security of the finance industry down. Between the credit crisis and the slump in the housing market, many companies have found it necessary to reduce the size of their payroll. Despite this, those looking for Chicago finance jobs will still be able to find new opportunities, according to Robert Half International’s Financial Hiring Index.

Through surveying local chief financial officers (CFOs), Robert Half found that 14 percent plan on continuing to create new finance jobs in Chicago through the end of the second quarter of this year. Only 5 percent of CFOs reported that they would be doing away with full-time positions. Although this means that the industry remains relatively stable, the hiring index shows that job growth will be more moderate for time being.

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