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Juniors taking over jobs at Standard Chartered in Hong Kong

Standard Chartered Hong Kong

Standard Chartered has a higher proportion of junior professionals in its ranks than any other global bank in Hong Kong, according to online profiles of bank employees.

We calculated the total number of staff profiles for 14 major foreign banks in Hong Kong. And for each firm we then worked out the percentage of employees within three categories of work experience: up to five years (junior); six to 10 years (mid-level); and more than 10 years (senior).

While our results are restricted to people who’ve chosen to make their profiles public, they broadly reflect the experience distribution across the banks.

The table below shows that Standard Chartered, in proportion to its overall headcount in Hong Kong, is a particularly keen recruiter of younger candidates.

People with between zero and five years’ experience (i.e. analysts and associates) make up almost a third (31%) of its local employee online profiles. The average is 24% across all the 14 banks we looked at.

Stand Chart also has the lowest proportion of experienced employees out of all these firms. Its 34% score in the 10-years-plus group is significantly below the sector average of 43%.

As ‘juniorisation’ – replacing expensive directors and MDs with their former subordinates – gathers pace in Hong Kong, Stan Chart appears to be ahead of the pack.

This is not surprising. Back in November 2015, the bank revealed plans to cut 15,000 jobs globally, predominately in Asia.

Since then Stan Chart’s axe has fallen mainly on management roles, while it’s continued to hire juniors, say recruiters in Asia.

Goldman Sachs, another firm which cut senior bankers in Hong Kong last year, has the second most junior-focused workforce in our table.

Image credit: Tempura, Getty

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