The Skill Gap in Bangladesh’s Financial Sector: Employer Expectations, Graduate Competencies, and Mitigation Strategies (Published)
This paper analyzes the skill gap among fresh graduates entering the financial sector of Bangladesh from the employer’s perspective and suggests possible mitigation strategies to reduce the gap. This study analyzes the difference between employers’ expectations of skills that a graduate should possess, and the actual skills and competencies fresh graduates have. Three skill categories: soft skill, technical skill, and personal attributes of graduates have been used to analyze the skill gap. Data for the study was collected through a survey from professionals in the financial sector of Bangladesh. A quantitative research approach was followed. Data was analyzed using mean and standard deviation, paired sample t-tests, independent sample t-tests, and regression analysis. The findings suggest that there is a significant gap between employer expectations and the actual skill levels of graduates across all three skills categories. The gap is most prominent in personal attributes such as time management and professional ethics. For graduates, soft skills are found to be more important than technical skills. According to employers, structured and on the job training and mentoring programs help mitigate graduate skills gap. To match classroom learning of graduates with the skills requirement, deeper industry academia collaboration is needed. The findings of this study can be useful for universities, students, employers, and policymakers in improving graduate employability and organizational effectiveness in the financial sector.
Keywords: Employability, Training, financial sector of Bangladesh, graduate skill gap, industry academia collaboration