Alvin Tan on increasing hiring of polytechnic graduates in financial sector

The Monetary Authority of Singapore (MAS) aims to increase the number of polytechnic graduates who take on full-time permanent jobs in the financial sector by more than 80 per cent, from about 160 entering the sector in 2021 to at least 300 by 2025. This is under the Polytechnic Talent for Finance Scheme which was launched in April 2023 to encourage financial institutions to train and hire more polytechnic students and graduates. The apprenticeship track under this scheme is expected to contribute the bulk of the targeted increase. It incentivises financial institutions to develop apprenticeship programmes that provide a clear path for deserving apprentices to be placed in university graduate-equivalent roles upon completion. After polytechnic graduates join the financial sector, they can tap upskilling opportunities available to all financial sector professionals under MAS’ Talent and Leaders in Finance Programme. MAS Board Member Alvin Tan said this in Parliament on Wednesday (May 10) in reply to MPs’ questions.

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