China’s fintech sector suffers from a severe shortage of qualified professionals according to a new report from recruitment company Michael Page.
According to Michael Page’s “2018 China Fintech Employment Report” 92% of fintech enterprises surveyed responded that China currently faces a severe shortage of fintech professionals.
The report from Michael Page covered the three major cities of Beijing, Shanghai and Shenzhen, and surveyed a total of 734 employers and professionals.
85% of employers surveyed said that they had experienced recruiting difficulties, while 45% said that the biggest recruitment difficulty they faced was sourcing personnel for specialist positions.
92% of industry professionals nonetheless said that the future prospects for the fintech sector were bright, while 38% said that ensuring the supply of high-quality personnel would be the key factor for advancing the industry.
60% of survey employers said that they primarily favoured home-grown talent in China, while 39% favoured candidates who have undergone training abroad.
40% of respondents said that the hottest fintech positions were in big data, 32% pointed to artificial intelligence, while 12% said risk management.
The report also found a high level of staff turnover, with 47% of fintech sector professionals indicating that they had changed jobs in the past 12 m months.