Singapore and the Philippines dominated the Banking and Finance industry with their impressive demand for talent in this field. Both countries displayed massive double-digit growth for August. These findings are the result of the latest Monster Employment Index (MEI), a monthly gauge of online hiring activity across Singapore, Malaysia and the Philippines tracked by Monster.com. It comprises data of overall hiring activity in each country, as well as specific data in the banking and finance sector.
Singapore reported a colossal 23% year-on-year annual growth for the month of August, a 3% increase from the 20% recorded in July. Not far behind was the Philippines, recording a 21% year-on-year growth during August. So far, the country has displayed a positive growth trend, as the figure reported in August was a 3% increase from July’s 19%. Malaysia also recorded double-digit figures for August – however, they were negative. The annual decline of 21% reported in the same month signifies a 5% decline from the 16% negative year-on-year growth in July.
Leading with an abundance of opportunities in the Finance and Accounts sector, the Philippines recorded a 31% year-on-year growth for August. The country performed well in the preceding months as well, clocking in 28% during July. Singapore witnessed a 7% annual growth in the availability of Finance and Accounts roles for August. July saw Singapore record the same annual growth of 7%, which might suggest stagnation for opportunities in the field.
The introduction of several regulatory reforms and non-traditional financial entities has caused much disruption for conventional financial institutions. However, all of these developments are positive and come with great potential. An indication of this is the flurry of hiring activity occurring in APAC countries, especially those which are home to the regional headquarters of international banks and organisations,” said Abhijeet Mukherjee, CEO at Monster.com – APAC and Middle East. “The financial industry is an exciting place to be in at the moment. Executives with cross-disciplinary knowledge and skills will fare better when proving their worth in the job market.”