High redundancies in the finance and banking sector have turned many people to brokers, who provide job introductory services to banks.
Bank staff have to face huge pressure
In big cities, job search centres are blooming and along with them is a growing market of swindlers.
Those brokers offer positions in banks for charges of VND50-500 million (USD2,400-24,000). However, those willing to pay for such services often gain nothing in return as the brokers disappear with their deposits.
There are also many adverts on the internet where the brokers claim that they have acquaintances in bank sector personnel departments.
On Facebook, a broker even offered a 'VIP position' in a bank at VND500 million.
In 2012, Hanoi's Thanh Xuan District's police arrested Dau Thi Thu Ha for fraud. She offered two positions in a bank at USD7,000 per position and ran way after receiving USD3,500 as a deposit. Previously, Hanoi's Hai Ba Trung District's police also prosecuted and detained Dao Tuan Hung. At the price of USD8,000 per position in a credit facility, he ran away with a VND30 million of deposit.
The head of a bank personnel department said getting an interview for a bank wasn’t tricky but candidates needed to prove their value over several tough rounds of assessments. The candidates would have to face many interviewers.
Despite the desirability of these jobs, most of the employees said the jobs were not easy and they faced many risks and challenges. They also faced a high risk of unemployment because the banks are trying to reach the international standards.
A graduate N.V.T, said that after receiving a salary boost for successfully raising deposits, he had to later make do with a basic wage of VND3 million per month. Unable to achieve his targets, he then quit the job because of the pressure. After collecting bad debts and handing out leaflets, another graduate also decided to quit her job.
Meanwhile, the regular employees are facing unemployment amid the difficulties facing the banking sector.
Finance and banking is considered 'hot' choice for many students. Each year, tens of thousands of graduates seek jobs in the sector, despite the lack of opportunities.
According to the Institute of Manpower, Banking and Finance (BTCI), 32,000 students will graduate with finance and banking degrees in 2013, but only 20,000 will be recruited by credit facilities. In the next four years, the number of unemployed graduates in this sector will reach 13,000 graduates per year. They will have to face fierce competition.
The credit institutions have been asked to be more transparency about their activities so that brokers can no longer take advantage of the situation.
