Banking still a leading career choice despite crash

Banking remains one of the top three careers of choice for Irish business students, a new survey shows, despite its fall from grace in the aftermath of the recession and the rise in popularity of technology jobs.

The latest annual Talent in Banking survey, carried out by accountancy giant Deloitte, shows that software/computer services, FMCG (fast moving consumer goods) and banking are the top three most popular sectors among Irish business students.

The top five most popular employers — globally — identified by the 1,900 respondents are Google, Apple, Facebook, Disney and Coca-Cola.

Nearly 61% of respondents said a strong work/life balance is their top career goal, with a little over 50% identifying job security as their primary goal.

Almost 40% indicated the goal of having an international career.

While still a popular choice for some, banking’s lure has been on the wane of late — just over 12% favoured it in the latest survey as opposed to 14% last year — and Deloitte doesn’t seem to think that will change any time soon.

“The popularity of software and computer services is a reminder of the challenges banking faces in the digital age,” according to David Dalton, head of financial services at Deloitte.

“While many organisations in the sector are still figuring out the implications of the digital economy on their business, non-bank competitors, mainly tech companies and FinTech start-ups, are disrupting banking.

“Software and computer services companies are now not only challenging banks’ business model, but are also posing a competitive threat to them in recruitment.”