Financial services professionals are confident in their job security despite being negative about the economic outlook, according to a new survey by Selby Jennings. Over half (57%) of global respondents feel confident in keeping their jobs over the next six months, despite the majority (62%) foreseeing a worsening economy over the next year.
The results are from the Selby Jennings Job Confidence Index, which measures confidence in the labor market. The index reports on 900+ professionals’ confidence in the economy, holding or getting a job, compensation and bonus, and whether the normal push-and-pull factors have changed.
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Key findings include:
- The majority (62%) of professionals predict a worsening economy over the next 12 months.
- Job security remains stable, with over half (57%) of global financial services professionals feeling confident about keeping their jobs over the next six months.
- Half (49%) of professionals are satisfied with their current job.
- Despite a negative perception of the job market, one third (33%) are planning to leave their job within six months.
- 2 in 5 financial services professionals say their compensation is likely or highly likely to increase. However, the majority (70%) say that career progression opportunities, not compensation, would persuade them to seek new employment.
The Selby Jennings Job Confidence Index surveyed over 900 financial services professionals via an online survey. It ran from March to May 2020.
