TAIPEI: Positions in the financial sector are returning to the hot-job list in Taiwan as the sector appears to be recovering well from the global financial crisis, an online employment broker said yesterday.

Driven by the recovery, many financial firms have abolished pay cuts for employees. The recent signing of memorandums of understanding (MOUs) on financial supervision and regulation with the mainland has also greatly boosted the sector's prospects, 1111 Job Bank said.

According to the results of a survey conducted by the job bank, approximately 40 percent of office workers are planning to enter the financial sector, mainly because they have an academic background or expertise in this area, are interested in the field, or are attracted to the higher pay.

Among the workers who intend to enter the sector or are already in the sector, more than 50 percent chose to work in banks, and 17 percent in the securities and futures industry, the poll showed.

Sixty-four percent of office workers said the signing of the cross-Straits MOUs has heightened their interest in pursuing a career in the financial sector, 85 percent of whom indicated an intent to work on the mainland.

The main reasons for choosing to work on the mainland are that career development there is better, mainland-invested firms have good prospects in Taiwan, and the mainland is more internationalized, according to the respondents.

Ho Chi-sheng, the job bank's director of public relations, noted that Taiwan and the mainland are about to open their financial markets to each other under the terms of the MOUs, which will result in an increased flow of financial talent across the Taiwan Straits.

Under these circumstances, people with professional licenses will have more career opportunities, he predicted.

The survey was conducted December 2-15 among 1,239 office workers and employees in the financial sector. It had a margin of error of plus or minus 2.41 percent.

China Daily/CNA

(HK Edition 12/17/2009 page2)