Banking job not so hot

BEFORE the global financial crisis, banking was, without qualification, a highly sought-after career. In the post-crisis world, however, markedly fewer fresh graduates rate it as a top career choice.

A new survey released yesterday by JobsFactory, a campus recruitment specialist, found that banking and financial services remain the most popular industry among fresh graduates.

However, the percentage of graduates who rated it as their first choice has shrunk by 10.8 per cent compared to last year. The financial sector has suffered a blow to its image as a result of the recent global financial crisis - blamed largely on the lack of regulation in the finance industry.

JobsFactory's annual survey, which polled 3,010 respondents from September to last month, showed a significant drop in the rankings of financial institutions, with only four banks in the top 10 - DBS Bank, which leads the pack at No.6, Citigroup, Barclays Capital Global Services and Deutsche Bank.

Last year, six banks were within the top 10, and three were among the top five employers. All financial institutions have fallen out of the top five positions this year, and Barclays is the only bank which has risen in the rankings from 11th to 9th position, said JobsFactory.

JobsFactory director Lim Der Shing noted that most banks have not hired aggressively in the past year, and have retrenched staff to cut costs. 'The effects of the economic crisis have most probably diminished the appeal of the financial industry considerably,' he said.