Thousands of students decide to major their degrees in finance and banking from universities ever year. Many of my friends are seeking opportunities to work in a bank. Professional experienced candidates that I interviewed tell me that working in a banking sector is strongly preferred. Of course, there are a lot more.
This is the personal trend of people seeking jobs in Cambodia. Both fresh graduates and experienced people give credits to those who get employed in bank. Seriously, whatever it costs them doesn’t matter providing that they gain an opportunity to work in banking industry.
Candidates are more likely to choose to work in a bank if they are offered two or more opportunities at the same time. In some cases, to build career in this sector professional experienced employees are willing accept offer that is equal to their current earning, or even lower rank in term of position title.
Why banking sector can attract and maintain their talented employees well?
Here are the 8 common reasons I often hear from fresh graduates and experienced staff when they are looking for jobs:
1. Image of bank
In Cambodia, the image of banking industry has tremendous impacts on how you are socially accepted. When people ask about your job, you are proud to introduce yourself to other people that you work in a bank and they appreciate your career. What’s more, people like to build professional network with you when they know that you work in banking sector, and so do your neighbor.
2. Professionalism matter
Working in bank shapes your professionalism. At work you learn how to do things in professional way in term of communication, dressing up, behavior, language choice etc. These rules and regulations teach you to be professional with both internal team and customer relationship. Another thing is being a staff at bank, you also need to be professional with your private life; otherwise, it affects the company’s reputation.
3. Challenging working environment
It is said that if you want to challenge your career, come to work in bank. To handle your roles well, you are required to be talented and highly productive in what you are doing. For instance, you need to manage your heavy work effectively for both quantity and quality, so the ability to meet deadline is serious when you join this industry. Besides that, you need an ability to learn new things quickly and have good problem solving skills etc.
4. Standard policy
All banking institutions in Cambodia apply standardized policy to all employees including management levels. The system of operating work is fair and transparent, which means like everyone else you have the same opportunities to be rewarded for good work, or punished if you do unwanted things that is not compliant with the policy.
5. Outstanding pay and benefits
Similar to international companies, compensation and benefit structure offers staff competitive wage and benefits compared to other industries or local private company. In addition to high basic pay, financial motivation includes state and private insurance, medical care and hospitalization, year end-bonus, staff loan, 13th salary, 14th salary, and 15th salary based their policy.
6. Job stability
With competitive job market, bank is the most trusted industry that ensures employees’ job stability. Unlike other companies, bank has strong financial status to ensure the sustainability of business operation and growth. The risk of bankruptcy is much lower than other industry, so you feel warm to commit long-term working in bank.
7. Opportunity to grow
Because the industry has shown big increase, you have more available opportunities to grow your career. Internally, while business is growing, it also creates new space for you to be promoted to hold new roles or position. Or you are offered learning opportunities by working in other departments. Besides, there is budget for staff development and advancement to learn professional courses that help increase productivity so on and forth.
8. Networking in banking industry
Last but not least, working in bank you have chance to know people and build professional network with them. One way for networking you can build good communication and relationship in the company and other branches throughout the country. For external networking, chance to know other professional people is to join events and banking association.
Because banking sector increases sharply in the country, Cambodian employees are flocking to join and build their career within this industry. Working in bank build your professional image in society. For excellent advantages, it provides you with great pay, plus outstanding other benefits. Also, you can challenge yourself if you have opportunity to work in banking sector.
Why do you want to work in bank?