Job confidence in finance sector defies negative economic outlook amid pandemic

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According to just-published survey of Hong Kong professionals, only 31% of respondents feel confident or very confident that the job market will improve. While this may result in less willingness to change jobs at the moment, many respondents still believe in themselves and their ability to find work.

The results also showed that if made redundant, about 50% of those currently in employment are confident in their ability to find a new role within three months.

The survey was conducted during February and March 2020 by Selby Jennings with over 140 financial services professional in North Asia. Most of the sample comprised of middle to senior levels professionals.

Despite the backdrop of an uncertain economic environment amid the COVID-19 pandemic, the research shows the majority of those in the financial sector are still receiving bonuses, while 40% of respondents still believe that they are likely or very likely to receive increased compensation in the next year.

“Asia is an important market for banks, financial institutions are not pulling out and they are in for the long haul,” said Abimanu Jeyakumar, head of Selby Jennings, North Asia

“They also know they need good people – those who can demonstrate the ability to add value in either a bull or bear market – to take them through whatever challenges lie ahead,” he added.

Full survey results can be found here.