Financial services professionals are confident in their job security despite a negative economic outlook, according to a new global study by Selby Jennings, Phaidon International Group’s brand targeting the financial services industry.
More than half of global respondents, 57%, feel confident in keeping their jobs over the next six months, despite 62% foreseeing a worsening economy over the next year.
However, 75% of US financial services professionals surveyed are still willing to consider relocation for a new career opportunity. Regional analysis revealed that much of this willingness is to move within the professional’s current region, perhaps out of a city center to more suburban areas. Those willing to relocate expect a new employer to play a large role in relocation; with 64% expecting assistance with moving expenses.
The survey found 49% of financial services professionals are satisfied with their current role, and 33% of respondents are even planning to leave within the six months. In Europe, only 43% indicated satisfaction with their current role, and 42% are considering an exit. And 70% of professionals globally reported career progression, not compensation, as the most important motivational factor.
The inaugural Selby Jennings Job Confidence Index engaged more than 900 experienced financial services professionals worldwide. Professionals were surveyed in the APAC region from February to March, and in the US and Europe from March to April. These survey periods roughly coincided with the timeline of the Covid-19 outbreaks in the respective regions.