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Over the past five years, a career in banking has dropped five places to become the 35th most popular job choice for university graduates.
Deloitte’s Talent in Banking Survey 2013 found the popularity of having a banking career has waned following the 2008/2009 global financial crisis.
The report stated the finding was a wake-up call for banks, as graduates’ attitudes towards the sector are changing following the crisis and global regulatory pressures.
“Banks must respond decisively if they are to continue to attract the best graduates and it is in their interests to recognise these changing attitudes and highlight attractions other than pay,” Kevin O’Reilly, a partner at Deloitte, said.
The survey, which polled 108,000 business students from 1,350 universities in Asia, the Americas, Europe, the Middle East and Africa, also found those who are still keen on a career in banking rank training and development as the top job attribute, ahead of financial earnings. They also expect to move on from their banking job within the first three years.
“Many students appear to be planning a multi-stage career. Applicants want to work for banks because they are seen as a good place to lay the groundwork for a future career… it may be necessary to transform the career paths they (banks) offer graduates,” O’Reilly said.
However, the banking profession was not the only one to perform badly on this year’s list. Manufacturing and engineering’s popularity fell by twice as much as banking. Meanwhile, sectors such as software and computer services have gained in popularity.
Leading the list was a career in accounting, which managed to stay on top, despite falling six places.