Financial institutions in Singapore aim to create 1,800 new roles and 2,000 traineeships by June 2021

A survey conducted by MAS polled over 30 firms on their projected hiring for the next 12 months.
By: | December 3, 2020
Topics: News | Recruitment | Singapore

Financial institutions in Singapore aim to create 1,800 new jobs and 2,000 traineeships by June 2021, according to a survey conducted by the Monetary Authority of Singapore (MAS).

Some 880 of these roles will be in tech, and include jobs like application developers, application architects and business analysts.

The survey polled over 30 firms accounting for 40% of the financial services workforce on their projected hiring over the next 12 months from July this year.

“These roles are typically less complex and more rules-based… however, they pay less than intermediate and advanced tech roles and have not appealed to Singaporeans as much,” commented Ravi Menon, managing director of MAS, at a webinar organised by MAS and the Institute of Banking and Finance (IBF).

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“We hope more locals will take up these job roles, even if they are less paid, which also provide a pathway to the intermediate tech jobs, which are in demand,” he added. 

To help financial institutions hire mid-career citizens from other sectors, MAS and IBF have also rolled out an immersion programme involving training and attachments in areas like data analytics, cyber security, cloud computing and full stack development.