These days, algorithmic trading development is a 'hot area' within the banking sector. So, when algorithmic trading development roles come up, corporations access the best and brightest candidates - no matter where they reside - to ensure they hire the best person.
Jim Cook from search firm Derwent Executive is currently looking to place an algorithmic trading developer in Hong Kong and is searching for candidates both locally and offshore. "My client is successful at attracting local talent in Hong Kong but because they happen to have an Australian track record, they also have a good chance of pulling people from Australia," says Cook.
While these types of roles are advertised, Cook says that in his experience, companies that have these types of roles on offer tend to hire search businesses to find the best candidates. "Companies would use us because we are able to approach relevant candidates directly on their behalf - it is a far more effective way of looking as these roles require specific skills or are in high demand".
Cook adds that although some offshore job opportunities still offer expatriate contracts, local packages are far more common (especially if candidates are changing companies). In regards to expatriate packages, they are generally given as an internal employee to be relocated rather than a new person coming into the business - even if they have been approached.