DBS and J.P Morgan top choice of banking employers: survey

Meanwhile, Goldman Sachs only ranked fifth despite competitive compensation.

JP Morgan and DBS Bank are the top employers for banking professionals, according to a study by eFinancialCareers.

The survey, which polled 509 candidates, ranked JP Morgan as the top employer, with 13% choosing the bank. DBS followed as the choice of 12% of the candidates. 

The remaining companies were split between local and global names, with Standard Chartered placing third (6%), followed by BlackRock (5%).

Goldman Sachs only ranked fifth despite being recognised as the highest payer by over half (53%) of candidates. This indicates that a high salary doesn’t always appeal to candidates, the survey said.

Candidates perceived local banks as less likely to offer competitive pay, with 7 in 10 naming DBS Bank and OCBC.

However, the Bank of Singapore (30%) performed better, receiving nearly as many "strongly agree" responses as JP Morgan (31%) and more than UBS (27%) when rating the company based on compensation.

Whilst local banks were rated lower for pay, Bank of Singapore (38%) and OCBC Bank (36%) had the highest candidates ‘strongly agreeing’ they offered robust training and development programmes for professional growth. 

According to candidates, training programmes are a crucial advantage for them, with UBS (94%), Barclays, and Standard Chartered (90% each) topping the list.

Goldman Sachs (65%) and BlackRock (74%) lagged in the survey in terms of perceived training and development for employees.