In theory, junior bankers are hot no matter where in the world you’re based. But exactly what opportunities are available to analysts and associate in Singapore partly depends on which part of Singapore financial services you’re working in.
We’ve looked at some of the key job sectors on the eFinancialCareers database and worked out the percentage of vacancies listed for candidates with only one to five years’ experience. The jobs towards the top of the chart are currently most in need of mid-20s talent.
Overall, front-office functions in Singapore – derivatives, capital markets, and commodities for example – have the largest proportions of junior vacancies.
Big investment banks typically have the most hierarchical structures in place to enable young employees to rise up the ranks. Analysts and associates have also been among the least affected by redundancies in Singapore this year.
The most junior friendly job is fixed income (including sales, trading and research) reflecting Singapore’s status as an Asian hub for the function and the ongoing need for talent.
Equities also ranks highly. The sector has been savaged by job cuts in Singapore, but these have disproportionately fallen at the senior end.
And the front-office dominance of our chart isn’t confined to the sell-side – hedge funds and private equity both appear in the top half. As we reported earlier this month, it’s becoming increasing difficult for seniors to move to the buy-side in Singapore.
Some of the supposedly most buoyant job sectors in Singapore banking aren’t at all in need of people with one to five years’ experience.
Only 6% and 5% of risk and compliance vacancies respectively are for candidates in the junior bracket.
These figures suggest that banks are looking for more experienced governance staff who can manage relationships with regulators and front-line departments.
Junior back-office and tech professionals in Singapore will also struggle in the current job market. These sectors bring up the rear of our chart as banks continue to offshore lower-level jobs.
And while Credit Suisse is building its junior ranks in private banking, our chart shows that overall young relationship managers are finding it fairly difficult to change jobs. Young corporate banking RMs who haven’t built up a big client base face similar problems.
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