Quote:
Originally Posted by Unregistered
This month, two banks have retrenched its staff. One of them is doing it worldwide (a quick check on the internet will tell you which bank it is). The other bank is pulling its back and middle office out of Singapore (this is a smaller bank but those keeping in touch with business news will know).
All the indicators about the financial services show that its contracting.
I'm not saying that financial and banking sector is not lucrative. Some banks are expanding, yesterday a headhunter called me for a position in the sector. But my point is that one should evaluate the ups and downs of the industry carefully using concrete data and reasons.
I can't help but emphasize that sweeping hearsays from others (including the naysayers) do not assist but muddle the picture.
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Extracted from Robert Walters 2012 (
http://www.robertwalters.com.sg/file...urvey-2012.pdf) :
Hiring sentiment across the banking and financial services sector remained cautious as many of these firms ‘overhired’ in 2010 and the global economic climate became increasingly uncertain. Despite this, we saw notable demand for sales and relationship managers and credit nalysts in SMEs and corporate banking firms to drive revenue generation. Recruitment demand was also relatively high for professionals in transactional banking as these employers built on the strong fourth quarter of 2010. While some banks opted to fill vacancies by promoting existing staff internally, we saw continued demand for professionals with trade, sales and product expertise, especially for newer product offerings such as liquidity management and forex.