Working on finance’s labour question

The latest survey by FPT University on more than 20,000 final-grade students revealed 23 per cent of them wanted to study in finance and banking areas in 2012, down 14 per cent against 37 per cent in 2011.

“The finance and banking sector outlook has significantly darkened in some recent years and that was why the number of students taking courses on finance and banking have declined not only in Vietnam but also in other countries like US and Europe,” said Standard Chartered Vietnam, Cambodia and Laos Legislation director Tom Nguyen.

Rosemary Gosling, a director at University of London International Programmes (London School and Economics and Political Science LSE) - where over 50,000 international students from countries around the world join finance and banking courses, however, said: “Students in finance and banking still have bright job opportunities after graduation. They can shift into working in insurance, one of developing areas with a huge demand for workers in Vietnam.”

In fact, scores of students believe finance and banking can ensure them a good pay.

“Before taking on finance and banking study, students need to understand the actual situation faces the finance and banking sector and define their suitable areas which could help elevate their potential,” said Nguyen.

For her part, Gosling assumed there were differences in the finance and banking area students should study before. For instance, in retail banking students need to be aware of market trends, while with investment banking students must have market analysis skills.

To effectively address human resources problem in the finance-banking sector and avoid a possible oversupply, Minister of Education and Training Pham Vu Luan said the ministry would sit together with the Ministry of Finance to get exact training numbers from relevant universities and compare them with actual demands.

“We will strive to detail human resources planning in each specific area which will then go public. That will be a basis to set out enrollment criteria for each training facility and each location,” said Luan.