The popularity of a banking career among business students has fallen since the 2008 financial crisis according to the recent Deloitte Talent in Banking survey. The research was based on a sample of 108,000 business students from 1,350 universities in Asia, the U.S.A., Europe and Africa. In a nutshell, the survey revealed the following:
- Software and computer services sector rises in popularity unlike banking.
- Students considering a job in banking rate training and development more highly than pay and rewards.
- They plan a short stint at their first employer before switching jobs.
- Students considering a job in banking want a supportive and dynamic workplace - but don’t expect banks to provide it.
What business students’ attitude says to Banks?
The attitudes of business students towards working in banking represent the insecurity that the industry has underwent since the financial crisis appeared. Moreover, although applicants aspire to work in the banking sector because they consider it as an optimal choice on which to build a future career, students appear to be planning a multi-stage career as more than half expect to change job within three years.
As a result, Banks must not only give financial incentives (e.g. high salaries and bonuses) to candidates but also other incentives that will ensure job security and consistency as well as prospects for training and development.
Check out this Infographic to find more about this trend.
Source: Deloitte (www.deloitte.com)