Singapore was far ahead of its peers in demand for financial and banking executives during March, according to the Monster Employment Index, released by Monster.com today. The country reported double-digit annual growth of 28% in March, a 16% improvement from the previous month’s year-on-year growth of 12%.
The Monster Employment Index (MEI) is a monthly gauge of online hiring activity across Singapore, Malaysia and the Philippines, tracked by Monster.com. It comprises data for overall hiring activity in each country, as well as specific data in the banking and finance sector.
The Philippines’ year-on-year growth was identical for both February and March, at 15%, recording no change in demand for finance professionals. Malaysia made an impressive recovery in March by reporting 15% annual growth, reporting a 24% increase from the previous month’s year-on-year decline of 9%. Malaysia experienced a sizeable boost in finance and banking opportunities during the month of March, recording a 3% annual growth. This figure represented a 16% improvement from the annual decline of 13%.
“The banking industry has undoubtedly been transformed by many digital and regulatory innovations, but it is currently at a point where banks and financial institutions must consider how to implement these changes on a long-term basis. In other words, banks must make sustainability a part of their long-term strategy, and figure out how these technological changes contribute to the bank’s overall development in the long run. As a result, banks are looking to hire young financial experts who have previously worked in fintech, artificial intelligence or regulation,” said Abhijeet Mukherjee, CEO of Monster.com – APAC and Middle East. “Financial executives with foresight and the ability to see the bigger picture will be preferred by recruiters. Now is the time for prospective talent to brush up on tech skills if they want to join the world of banking, as financial institutions are hiring for roles where tech is one of the main – if not the central – focus of the job.”
Launched in May 2014 with data collected since January 2011, the Monster Employment Index is a broad and comprehensive monthly analysis of online job posting activity in Singapore conducted by Monster Singapore. Based on a real-time review of millions of employer job opportunities culled from a large, representative selection of online career outlets, including Monster Singapore, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide. Monster has taken due care in compiling and processing the data available from various sources for Monster Employment Index, but does not guarantee the accuracy, adequacy or completeness of any information and is not responsible for any errors or omissions or action / decision taken or for the results obtained from the use of such information.