Australian investment professionals are among the most pessimistic in the world in terms of future employment opportunities, with only 15 per cent expecting prospects to improve, according to a new survey by CFA Institute.
The 2015 Global Market Sentiment Survey revealed that Australia’s rising unemployment rate will hit the financial services industry, with a quarter of industry professionals expecting a decrease in employment opportunities.
CFA Society Sydney president Anthony Serhan said the findings indicate that Australian investment professionals must actively improve their chances of finding employment.
“Candidates who can demonstrate a competitive advantage, such as a better education, the right kind of on-the-ground experience and a demonstrated commitment to upholding high ethical standards will secure the best jobs and have the greatest chance of long-term success," he said.
“It’s up to the industry as a whole to place more emphasis on all three key factors: education, experience and ethics.
“The real conundrum lies not in what the survey reveals about market sentiment, but in finding answers to the question it prompts: what can investment professionals do to compete?”
The report also found much higher levels of optimism in other Asia Pacific jurisdictions.
Globally, professionals in both India and China expect employment rates to improve in line with GDP growth, with 77 per cent and 60 per cent of survey respondents respectively noting employment optimism.
“Chinese respondents anticipate GDP growth of 6.2 per cent and India 5.8 per cent, figures which far exceed the anaemic 1.6 per cent from Australians,” Mr Serhan said.
