The new employment scheme offers basic pay, CPF contributions, comprehensive skills training, full-time employment benefits and a flexible working arrangement.
AIA’s Financial Associate Scheme (FAS) offers greater financial stability for individuals who want to pursue a career in financial services, including fresh graduates, mid-career switchers and stay-at-home-parents keen to return to the workforce.
Instead of commission-based income, recruits under the FAS will earn a base salary ranging from $2,700 to $8,000 per month and quarterly performance-based bonuses, as well as Central Provident Fund contributions, annual leave and medical benefits.
To equip candidates with the relevant skills and knowledge to succeed in the financial services industry, candidates will undergo a holistic skills training programme where they will receive job-specific training and gain a fundamental understanding of the life insurance industry. As part of their career development, they will also be placed on training programmes focused on helping them succeed in this career and towards the managerial path.
Mr Chin Chung Wen, Chief Distribution Officer of AIA Singapore, said, "The AIA Financial Associate Scheme is in response to feedback from many talents we engaged with – from fresh graduates to mid-career switchers – who are keen to pursue opportunities in financial sales advisory but hesitate because of existing financial responsibilities they already have."
"Another key group we established this scheme for is stay-at-home-parents and women who want to return to the workforce. We want them to feel empowered and confident to re-start their professional lives with AIA, and we believe that the career provides them the stepping-stone to make this happen. Creating a more conducive environment for women to re-join the workforce will also help address the tight labour market we are currently experiencing."
There are approximately 260,000 women in Singapore who are well-placed to return to the workforce. The recent White Paper on Singapore Women's Development, a whole-of-society review of Singapore women's development, also outlined the imperative of pursuing initiatives that enable more women to participate more fully in the workplace.
The creation of more than 500 new positions under this new scheme is aimed at expanding AIA's distribution capability.