Is it unwise to choose job-hopping when the market is bad?

While practitioners in the global financial industry are discussing the potential impact of Britain's withdrawal from the European Union on the financial industry, the sharp drop in the share price of European banks has once again hit public confidence in the industry. In recent years, due to the policy tightening of local regulators and the influence of the global market, foreign-funded financial institutions in China have experienced fatigue. Although the business development of some institutions in China is still good, the global cold winter still has a considerable impact on the business development of local branches in China. The freezing or even reduction of staffing of major foreign banks directly leads to the decrease of employees' confidence in the industry and brain drain.

In the first half of this year, employers represented by foreign banks were obviously more cautious in recruitment. Not only are there few new positions in the market, but even the replacement positions have to be reviewed and evaluated by the Asian regional headquarters before they can be reopened. What's more, some positions may change from senior ranks to intermediate positions, or become increasingly popular outsourcing contracts. From the practitioner's point of view, our customers often reveal that "the frequency of receiving headhunting calls is greatly reduced" or "more opportunities are provided outside the industry".

So in such a market situation, is it the most ideal to choose a conservative perspective? The answer is not certain. First of all, from the market point of view, the global crisis does not mean that all financial institutions have lost confidence in China and even the Asian market. For example, although Standard Chartered Bank began to lay off employees worldwide last year and made some organizational changes in China, in fact, Standard Chartered Bank, which is very focused on the Asian market, has more than 65,438+000 vacancies in Singapore, Hong Kong and China, and even added jobs.

In addition, Swiss bank opened a new branch in Shanghai last year and remained optimistic about the wealth management business market in Shanghai, so it still showed a healthy development trend in China.

Finally, some small and medium-sized commercial banks with relatively stable domestic business will also have some corresponding needs to consolidate their domestic business and create some middle and senior positions.

From the practitioner's point of view, although the salary increase observed in the market is not as optimistic as that in the prosperous market, it is not a bad thing to keep an open mind to try if there are some opportunities for career promotion or new learning opportunities.