Category Archives: Economics

Financial Advisors Congress 2015 Part 2: Jonathan Ravelas and the economy of the Philippines

Jonathan Ravelas is the First Vice president and Chief Market Strategist of BDO Unibank of the Philippines
He educated everyone about the economy of the Philippines today and related it to the upcoming election next year. He also cited the relevance of it in terms of our economic growth. All statements came from the speaker.
I definitely agree to one of the professor when he said  “Whoever becomes the next president, our economy will still continuously grow”. – Bernie Villegas

“Develop markets like the US, Europe and Japan are struggling and having an under growth of 1-2%, while emerging markets like the Philippines is growing with 5-6%”.

“Before China is growing 10-14% but this won’t happen for such a long time and you are currently seeing them decelerating to 5-6%”.

“World growth is growing between 3-3.5% a year and we are expecting this within the next 2 years, but this is the new normal.  Before financial crisis our world growth is 4-5%”.
“Major economies (US, Europe and Japan) should grow 1-2% near the world growth”.
“Philippines have a stellar performance of growth since 2010”.

“There’s so much money right now in the economy today. The average yield for the investors should be higher than inflation rate, minimum return average 5yr inflation plus 1.5 % which represents real interest rates.   It is equal to 5.5%”.

“The Philippine peso performed very well against its peers in South East Asia, their currency depreciated 20% while Philippines lost 5% only”

“GDP is the speedometer of the country today and we are growing at least 5-6%”.

“Our growing population is only 2%. Thanks to the evolution of mobile phone because we don’t hold our partners anymore. 150x is the average times you hold your phone compare to your partner that’s only 10x average”.

“Inflation has gone down to 0.4% last September”.

“Election means there will be so much spending and that will increase inflation”.

“We noticed that weaker peso will lead you to Super Malls. Bigger peso will boost the economy”.

“Rising interest rates is just around the corner”.

“The Philippines is the sunniest economy in Asia since 2010”.

“BPO is creating a lot of activities in the economy”.

“The proliferation of call centers will create communities and will move the growth in Visayas and Mindanao. The real estate, malls and infrastructures are moving in the Visayas and Mindanao region. Luzon is contributing 60% growth”.

“There’s a lot of growing population and middle class that will create consumer spending”.

“Kapag malakas ang piso our malls have 1,510 people na naglalakad in SM. Pag mahina piso marami asa SM 1572 people”.

“The govt invested into the K12 program, the first graduate of K12 soon will be the ideal workforce. Over the next 2-3 years sila na ang magbibigay ng demand and will get job asap”.

“There are 8-10millions OFW’s that sends 23 billion a year, while 1.3 million full time employees the IT-BPO also known as call center industry delivers 16-17 billion in the economy”.

“The Social cost of the family lessens the risk of crime, staying here in the Philippines will create jobs and boost the economy because all your spending is here”.

“Food retail and constructions should be really good investments”.

“Majority of the stock market peaks after 36 months of the president”.

“The pillars of our growth are because of these: Growing population, growing middle class, Strong IT-BPO industry and OFW remittances”.

“The best time to enter the market is now. Correction is the best time”.

“As long as there is a smooth transition of power it doesn’t matter. Appreciate the fundamentals food retail and construction invest more and pray harder”.

“We were the Bahamas when General Luna was still alive. We are moving towards becoming a leader in the industry. Filipinos are long term investors, Philippines are like a bamboo coz it sways and flexible every time”.

“Think about the President that you will vote. He/she should be doing 3 things like a CEO. He needs to think about the overall health of the company and shareholders, the growth of the company and sustainability”.

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Filed under Economics, Financial Advisors Congress, Speakers

8 Reasons why Call Center Agents should earn more

I’m studying the IT-BPO industry for almost half a decade now. I was a part of it. Many people still ignoring how much this industry contributes today into our society. This private sector is too young but making this nation more beautiful and fun.  I heard a couple of people why IT-BPO employees (Call center agents) keeps on earning large amount of money compare to others while just sitting around in front of a computer and talking to someone over the phone. But they don’t know the cost of being a call center agents or working in this beautiful industry. Here are the justifiable reasons why call center agents earn more.
Image source Data Bazaar
1.    This industry is the biggest driving force of the economy – We are bankable as a country and the workforce is totally designed for it. BPO industry is the largest contributor to our economic growth aside from remittances from our OFW’s. According to Department of Trade and industry, that this is the fastest source of employment and revenue. BPAP, an organization that monitors every IT-BPO company that by 2016 with the support of the government the revenue can reach up to 20-25 billion dollars. Considering that this industry will have 1.3 million full time employees by 2016.  
Image Source
2.   Real Estate won’t boom too much – Imagine the country without IT-BPO industry; you won’t see too much rising condo on the city today. Real Estate development is so hot right now because of offshore companies leasing those office buildings. Most of the clients of that real estate companies are from IT-BPO industry as well, who is maneuvering our country to become the new tiger of Asia.  The generous employers of call center agents also help IT-BPO employees start investing to condo units, foreclose properties and increase their assets while young. 
Image source from Zipmatch
3.  We are getting a lot of curses over the phone – Where can you find a person who went to college and ended up listening to the rant of another person over the phone multiply it sixty times per day? That’s how a normal scenario of BPO voice agents nowadays.  The Vampires are the shock absorbers of many irate customers of overseas companies. It’s hard for us to just listen and don’t take those curses personally. It is draining sometime but it will take a lot of conscious effort not to retaliate to the other person knowing you are being recorded over the phone.  Where can you find a job aside from BPO industry wherein people are shouting and cursing at you for the next 8 hours and you don’t feel so drained?
Image Source Jared Wellman
4.   We are exchanging our day job over our night job – 6 years of night job, that’s going to take out your health from you. We are so called Batman and Vampires. We have an abnormal sleep patterns because of the time zones that we follow since we are catering people from western world. Our safety and security is being on the line every single night as we go to work. 
Image Source Pinterest
5. We are all professionals – Majority of IT-BPO employees were nurses, teachers, former entrepreneurs, IT’s, PT’s, psychology license, business ad, marketing and communication science graduate. We deserve the same treatment with other industry experts and look at the way we adapt with the change in the management. A quarterly transition with the grading system and performance metrics keep us on our toes. A globally competitive group of people is making a wave to help our nation grow more economically.  
Image source the hoarding project
6. We are making a difference indirectly to other nations – Currently as of this writing the Philippines is the number 1 in  Voice and rank number 2 in Non Voice when it comes to outsourcing destination . No wonder because we are the 3rd largest nation in geography that can speak fluent English. That very skill can make a long way. Filipinos are adaptable that’s why we can easily mimic the accents of every nation. As of the moment my workplace can cater 20 thousand calls per day and since there are currently 1,100 BPO sites in the county right now and projected 1.3million full time employees by 2016 (Source: BPAP) we can help at least 22 million people a day. 803 billion help every year. We are consistently putting the Philippines as the universal soldiers of customer service.
Image Source RCM Central
7. We are too educated to ignore– The skill sets of the IT-BPO employees like technical, language, effective communication and right attitudes is superb. In addition to it with process specific expertise, knowledgeable groups in innovation, we can beat and eat the competition. Other industries are doing their job but you can’t ignore the fact that BPO agents are super agents because of multiple disciplines we acquired in the past. With the help of coach, trainers and environment of excellence we are all recognizable.
Image source Wisconsin
8.  We are under valued compare to our counterparts from the United States.
Are you serious?  As of July 25, 2015, the average salary of a call center agent in the US is 27,000 thousand dollars a year 1,188,000 php  (
According to Payscale. Com,the average Filipino Customer Service Representative only earns 203,569 php or  4626.56 dollars a year. The reason why offshore companies will go to the Philippines is not just to invest but to cut cost. Expenses are too heavy especially when the company is expanding. They can see that this country is a goldmine, they can get a cheap labor but the quality of the customer service is good to great. Again, skills will follow when attitude of the employees are willing to learn. That’s why BPO employees should get more perks and benefits from the offshore companies. The more employees felt that they are appreciated they will stick more to the company.
Image source Roseville

Your finances will be in a bad situationif you don't stop chilling with the wrong people (17)

David Isaiah Angway is a RFP and a financial consultant for IT-BPO-Banking, HealthCare Industry and Manpower Agencies. He is a conference speaker and was featured in ANC On the money, Bloomberg TV Philippines. He is also columnist at BusinessMirror, Rappler, and MoneySense magazine. He is a licensed nurse and a former Senior Fraud Specialist of the largest bank in the world, JP Morgan Chase & Co.

He is the CEO and founder of WinLongTerm Financial Consultancy, helping young urban and educated millennial (Gen Y). It sets and achieves their long-term financial goals by empowering them through behavioral finance.

For more information and concerns subscribe to Facebook page or contact me at, here’s also my mobile number 0925-787-7796

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Filed under BPO Industry, Call Center, Economics, Finance, Growth