According to the latest Monster Employment Index, online hiring sentiment of banking professionals in Southeast Asia remained stable in October, maintaining its positive growth streak across all three markets. The Monster Employment Index (MEI) is a monthly gauge of online job hiring activity by Monster.com. The Index tracks industries and occupations with the highest and lowest growth in online recruitment, which also includes data points from the Banking and Financial sector.
Singapore exhibited the highest growth in BFSI sector hiring, recording 17% annual growth in October. Malaysia reported a 9% rise, while the Philippines saw an 11% jump annually in October. While looking at the demand for Finance and Accounts roles, growth trajectory remained uneven across this sector. Similar to last month, demand for Finance and Accounts talent in Singapore plunged 8% year-on-year. While both Malaysia and the Philippines displayed a positive growth sign with 3% and 5%, respectively, in October.
“While hiring in this sector has been stable, employers and banks will remain cautious when controlling the headcount, due to constant tech disruptions. Professionals must note that this fast pace of change in their industry means new skills may date rapidly,” said Sanjay Modi, Managing Director at Monster.com – APAC and Middle East.
“The payments industry across Southeast Asia has been in constant flux and demand for professionals, especially experts in Fintech and compliance, will remain hot. Recruiters will look out for more strategic thinkers as technology skills continue to gain more prominence. To stay relevant and be future-ready, professionals in this industry must remain agile and be flexible with their skill sets to constantly meet the needs of the evolving economy.”
The Monster Employment Index is a monthly gauge of online job posting activity, based on a real-time review of millions of employer job opportunities culled from a large representative selection of career websites and online job listings across Singapore, Malaysia and the Philippines. The Index does not reflect the trend of any one advertiser or source, but is an aggregate measure of the change in job listings across the industry.
Malaysia Highlights
• Monster Employment Index Malaysia charts eight percent growth between October 2016 and 2017.
• Year-on-year, IT, Telecom/ISP and BPO/ITES exhibit the steepest growth among sectors; whereas, Retail registers the most-notable decline.
• Software, Hardware, Telecom professional exhibit highest annual growth in demand among job roles.
Singapore Highlights
• Monster Employment Index Singapore declines two percent in October 2017 from the year-ago level.
• BFSI sector leads among the industry groups; whereas Government/ PSU/ Defence dips the most on-the-year.
• Among job roles, Health Care witnesses the most-notable annual growth in demand.
The Monster Employment Index is a broad and comprehensive monthly analysis of online job posting activity in Singapore, Philippines and Malaysia conducted by Monster India. 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, Monster Philippines and Monster Malaysia, the Monster Employment Index presents a snapshot of employer online recruitment activity nationwide.
