Do CAs have a demand in the banking sector

Career prospects in the banking world: The bonus is a long way off

Despite the corona crisis, job prospects in the Swiss banking industry are intact. However, many employees will have to make financial cuts. In order to develop further, many want to complete an online training after the home office experience.

More than half of Swiss bank employees still work from home. Many employees also know that things will be different after their return to the office: three quarters of them are aware that rationalization will be necessary and 80% will have to be satisfied with a lower bonus or no bonus at all. Nevertheless, there have never been so many bank employees who would return to work in the financial world today. These are some of the results from the 9th online survey on career prospects in the Swiss financial sector. The representative survey of a total of 1,180 people was carried out by the industry portal, the Swiss communications agency Communicators and the Swiss Finance Institute (SFI).

More social skills are required

The requirements of the job are clear to most bankers. With advancing digitization, IT skills (around 75% of all respondents named) and willingness to change continuously (68%) are in demand - be it in the job profile, at the workplace or through smart work concepts. In the increasingly complex world of work, social skills are also essential (59%).

As can also be seen from the survey results, almost one in five respondents (23%) did not receive any bonus in 2020, and with the same number of employees (22%) it was lower than in 2019.

Banking more attractive again

Overall, 5% (previous year: 6%) of the survey participants now consider the career prospects in the Swiss financial sector to be "very good", while 50% (previous year: 46%) describe the prospects as "good". In a longer-term view of the survey results over the past eight years, according to the surveyors, there is a clear upward trend (in 2012: "very good" 2%, "good" 29%).

It is also interesting that around a third of finance professionals now recommend college and school leavers to move into banking-related areas such as independent asset management, fund sales and brokerage, while 27% recommend hiring in banking. That is significantly more than in the previous year (23%).

Wanted: knowledge about retirement provision

In order to get fit for tomorrow, bankers today want to train in the subjects of IT / Fintech (73%), Compliance Management (49%) and old-age provision / pension funds (42%). The relevance of provision has increased significantly compared to the previous year. At that time, only 35% of those questioned expressed interest in the topic. The survey participants see the best career opportunities in IT (67%), in legal & compliance (55%) and in private banking / wealth management (39%). According to the respondents, the back office (68%), retail banking (52%) and investment banking (44%) offer fewer opportunities.

After working from home, significantly more online courses

With a view to their further development, the respondents prefer attending topic-specific seminars (48%) as well as lectures and conferences (45%). Thanks to their most recent experience in the home office, three quarters of bank employees (74%) want to take advantage of online courses and distance learning offers in the future. A year ago it was only 61%.

It is also noticeable that the focus is now more on actual training content or on focused training modules than on formal confirmations in the form of diplomas or certificates. This can be seen in the fact that the demand for CAS / DAS / MAS courses was only mentioned by 22% of those surveyed, after having been significantly higher at 32% a year ago. The opposite development can be seen in the case of non-exam offers, which are cited by 21% of the survey participants today, compared with only 16% a year ago.

Fewer jobs and lower fixed wages

More than 60% of the survey participants assume that in five years there will be fewer or even drastically fewer jobs in the financial sector. In addition, more than half of the respondents assume that fixed wages will fall slightly (51%) or even drastically (10%) in the next five years. And with the bonus, 80% of bank employees expect a falling (50%) or a drastically lower (30%) bonus over the next five years.

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