The financial services jobs market continues to struggle as the sector loses almost 1000 jobs a month to more cost effective offshore hubs, such as Asia and New Zealand.
Combined, the big four banks have about 20,000 full-time overseas roles supporting areas such as technology, mortgage processing and call centres, according to The Fin.
One industry consultant estimates these jobs have risen 10- 20% for ANZ, Commonwealth Bank of Australia, National Australia Bank and Westpac Banking Corp over the past four years.
The Financial Review reported the average processing job in the Philippines costs $50,000 cheaper compared to the Australian counterpart.
“It’s been a really troubled area for a couple of years now, said Nina Mapson Bone, Chandler McLeod’s general manager of NSW recruitment.
Chosen excerpts by Job Market Monitor
via 1000 Australian Finance Jobs Are Sent Offshore Per Month | Business Insider Australia.
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