US Graduates Not Keen on Bank Jobs

Graduates in the United States are now less keen to find jobs in banking and financial sector after a series of major job slashing in the industry.

This is despite the industry’s capability in offering attractive and lucrative remuneration package for new graduates and job seekers.

The situation is in stark contrast to 5 years ago where banking was considered one of the hottest choice of industries by graduates.

More than 70,000 banking jobs were cut both in the United States and Europe stemmed from the crisis of finance and credit for the past 6 months. Citigroup, last year’s biggest banking group in the world, became one of the biggest victims, and in the 2008 list of largest banks in the world, the bank slumped from its previous no. 1 rank to a poor 7th.

Apart from the job cutting, it is becoming relatively more difficult to move up the corporate ladder for someone working in a bank today. There are also cases in the US where graduating students find their job offers withdrawn while the graduates were completing their final exams.

Banks from China are now emerging as the world’s biggest banks, spearheaded by the Industrial & Commercial Bank of China, ICBC and China Construction Bank, CBC.

2 Replies to “US Graduates Not Keen on Bank Jobs”

  1. More graduates are now less keen in having a career in the banking and finance industry maybe because they shift to the IT world. I believe this is true not only in the US but even in Asian countries like Philippines, India and Singapore. IT jobs offer a very lucrative salary, perks and benefits and some IT positions does not even require you to be a college graduate, take for example the world’s richest man Bill Gates. Jobs in IT also offers worker a very flexible working schedule, you can work home based minus the suit and tie and only in your pajamas.

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