Taiwan Banker: Analyzing and Enhancing the Appeal of Financial Careers through Data

The most valuable asset in the financial services industry is people. To attract increasingly scarce talent through innovative mechanisms, institutions must devise strategic solutions and effectively mobilize resources. Amid declining birthrates, Taiwan's industries broadly face challenges in talent acquisition, and the financial services sector is no exception. The primary source of new financial professionals is university graduates from social science-related departments. However, this talent pool is shrinking due to declining student populations and intensified competition from natural sciences and engineering graduates, who typically command higher starting salaries. Therefore, the financial industry must take more proactive measures—through innovative systems in talent recruitment, development, and retention—to ensure sufficient human capital to seize opportunities driven by global AI demand and Taiwan’s industrial growth and internationalization.

According to Ministry of Education statistics, the annual number of graduates from social and humanities disciplines (including social sciences, humanities, business, management, and law) has declined over the past decade, falling from 475,500 in 2015 to 328,200 in 2025—a 30.97% decrease. This trend stems not only from declining student numbers but also from shifts in students’ academic choices. For example, between 2015 and 2020, social and humanities graduates declined by 11.77%, while natural sciences and engineering graduates (natural sciences plus engineering and technology) declined by 10.27%—a relatively similar drop. However, from 2020 to 2025, the former declined by 21.05%, while the latter only decreased by 4.01%, indicating a growing preference for STEM fields.

For instance, among female graduates, the proportion from natural sciences and engineering fields rose from 12.09% in 2015 to 17.10% in 2025. Meanwhile, the share of female graduates from social and humanities disciplines dropped from 51.24% to 46.71%. Among male graduates, the proportion from natural sciences and engineering increased from 47.72% to 50.94%. In short, fewer than half of female graduates now choose social and humanities fields, while over half of male graduates choose natural sciences and engineering.

Beyond personal traits and interests, post-graduation salaries also influence academic choices. To understand employment trends and salary distribution among university graduates, Taiwan’s Ministry of Labor combines national labor retirement contribution wage data (regular monthly wages, excluding bonuses, allowances, and non-salary compensation) with Ministry of Education graduate records, tracking labor market outcomes for the past five years of graduates annually. For example, in 2016, there were 839,200 university-educated workers who graduated between 2011 and 2015, with an average monthly salary of NT$34,700.

Among social and humanities disciplines, graduates in law, education, social and behavioral sciences, and business and management had average salaries above the overall average of NT$34,700 in 2016. In 2021, only law and education graduates remained above the overall average of NT$38,200. By 2026, only law graduates exceeded the overall average of NT$47,900, while most disciplines surpassing this average are now in natural sciences and engineering. Over the past decade, social and humanities graduates have generally earned less than their STEM counterparts, with the gap widening. This suggests that salary disparities may be a key factor in the declining number of social and humanities students.

However, from an industry perspective, financial and insurance services remain highly attractive. In the 2016 statistics, graduates entering financial and insurance services had the highest average monthly salary at NT$41,800, slightly ahead of electricity and gas supply (NT$41,500). In 2021, financial and insurance services remained the highest-paying sector, with an average of NT$46,700, significantly above the second-place publishing, audiovisual, and ICT sector (NT$42,300). By 2026, due to faster salary growth in manufacturing and ICT, financial and insurance services ranked third, but their average of NT$53,800 still significantly exceeded the overall average of NT$47,900. In salary terms, financial services have been highly attractive to new graduates over the past 15 years—dominant in the first decade and still competitive in the last five years.

Graduate inflow statistics by academic field further reveal the evolving appeal of finance over the past 15 years. Among graduates from 2011 to 2015, 4.84% were employed in financial and insurance services in 2016. By 2021 and 2026, the proportion of recent graduates entering this sector rose to 4.86% and 5.43%, respectively. Thus, finance remains a popular career choice for new entrants. Particularly in social and humanities fields, the proportion choosing finance is even higher. In 2026, 16.8% of recent business and management graduates entered financial and insurance services. Similarly, social and behavioral sciences and law graduates also show high inflow rates. Notably, increasing numbers of graduates from mathematics, statistics, and information and communication technology fields are also entering financial services, reflecting the industry’s diverse talent needs and its ability to attract quantitative and technical talent.

Overall, despite a 10-year decline in social and humanities graduates, the financial services sector continues to offer strong salary incentives, attracting a high proportion of graduates. Moreover, with fintech development and cybersecurity demands, graduates with mathematical, statistical, and IT backgrounds are increasingly drawn to finance. Additionally, rapid advancements in AI tools have empowered social and humanities students to contribute meaningfully to fintech applications.

For example, on July 20, the Taiwan Academy of Banking and Finance (TABF) hosted the Asia Capital New Star Competition and a Financial Talent Matching and Career Exploration Day. In the competition, several teams—mostly composed of social and humanities students—used AI tools to rapidly build a web-based wealth management platform for high-net-worth clients. At the talent-matching event, TABF partnered with 16 financial institutions (Yuanta Bank, CTBC Bank, E.Sun Bank, Taichung Bank, Taishin Bank, Bank SinoPac, Hua Nan Bank, Mega Bank, Cathay United Bank, Citibank, DBS Bank, First Bank, HSBC, Chang Hwa Bank) to conduct career exploration and institutional engagement with hundreds of university students using AI-based aptitude assessments.

As a key institution for financial talent development, TABF not only provides comprehensive on-the-job training and continuing education but has also deepened its outreach to universities in recent years. By combining industry practitioners with academic training, and collaborating with financial institutions on career exploration and matching events, TABF aims to offer innovative solutions to Taiwan’s financial talent shortage. The primary goal of these initiatives is to expand the financial talent pipeline through deeper academic engagement and achieve optimal matching between students and financial institutions—an essential mission for TABF.

*The author is the President of the Taiwan Academy of Banking and Finance. This article is reprinted with permission from Issue 199 of Taiwan Banker magazine.