Are you a young finance professional in Hong Kong deciding whether to make your first job move after your traineeship? You might very well want to stay put in the bank that hired you as a graduate, according to eFinancialCareers data.
We compared the amount of Hong Kong-based vacancies to the number of local CVs on our database in the one-to-three-year experience range across 18 finance job functions.
And we found that, depending on the sector, juniors in the city currently face competition from between 40 and 197 other candidates (as the chart below shows).
People in job functions towards the top of our chart will have more straightforward job searches than those at the bottom.
Young technologists will have the ‘easiest’ time finding a new job in Hong Kong – there are ‘only’ 40 Hong Kong-based candidates on our database for every available IT finance job in the territory.
Predictably, compliance is also high on our list. HSBC and Stan Chart, in particular, continue to recruit in large numbers. And as we reported in November, more compliance staff in Hong Kong are quitting their jobs because of long hours and unmanageable workloads.
Even in these functions, however, our table makes for sobering reading for job-seekers in their early to mid 20s.
While most global banks in Asia are maintaining their graduate hiring numbers and are heaping more responsibilities on their existing associates, ongoing cost constraints mean they are in no mood to externally hire many analyst or associates from other firms.
This is particularly the case in the sought-after front-office jobs which dominate the lower echelons of our table.
M&A juniors wanting to move banks face an average of 115 rival resumes. It’s even worse in derivatives – you’ll be up against 197 job seekers.
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