with economic growth hovering over 6 percent for the past three consecutive years it's a great time to be working and earning in Bangladesh. From CEO packages being counted in lakhs, hefty bonuses for middle and senior management and lucrative benefits for junior management, corporate Bangladesh salaries for the first time after independence are going stratospheric. However, this is all confined to the banks in the private sector, telecom companies, local corporates and multinationals which accounts for one million employees or just about five per cent of the total workforce. It will clearly take time before the cascade effect starts benefiting the larger workers' community but signs are in place.

Also, for the first time, the graduates passing out of universities, there is not just ample opportunity but a variety of choice, and riches for those with talent. There was a time when there were few career avenues and fewer options, but with the private sector growing at a commendable speed, the country's job scenario looks better than ever.

Companies are finally realising that their competitive advantage will come from human capital and not physical infrastructure. Companies are now racing to shell out the moolah to keep employees happy.

Better jobs and fatter pay cheques have given birth to a new affluent middle class who are on a spending spree. One report says 5.3 million mobile handsets were sold alone in 2007-8 and the spending on travel and leisure, dinning and entertainment, automobiles and personal computer is significantly up. And as they shop they fuel the cycle of consumption, investment and job creation.

There was a time, not many moons ago, when one could only think of a house of one's own after retirement. The present day scenario is diametrically opposed to that: if you have a job at a private sector bank or a telecom company or a local corporate you can have your own apartment even in your early 30s.

Another key feature of corporate Bangladesh is its accommodation of women workforce, who were once considered as the 'inferior gender' is now on their way to changing the total landscape of the job market with their commitment, skills and thirst for performance. The country is indeed witnessing girl power: even in the upper echelon of the corporate ladders, women now have their footprints prominently etched.

Given the opportunity, our professionals have shown how they can excel: today most of the multinationals and foreign banks are headed by Bangladeshis which was unthinkable a decade ago.

For our June special story we tried to get a closer look at the corporate Bangladesh and understand its requirements and desire to achieve global standards.

So far banking industry in the private sector is the biggest creator of white collar jobs in Bangladesh. But what is encouraging is that with the rise of domestic consumption the local manufacturing industry is also creating huge job opportunities, and we feel that if government policies are on the right track, employment for those on the periphery will only multiply further. And the dream for a middle income country is certainly not at a distant horizon.

 

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Md. Abdul Alim

 

 
   

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