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What’s the easiest banking job to get in Hong Kong?

Which is the easiest banking job to get in Hong Kong?

Easy as

If you work in private banking in Hong Kong, be thankful. Regardless of your seniority level, you should have an easy time getting a new job in the city – at least compared to your counterparts in other areas of the front office.

We’ve analysed our database to find Hong Kong CVs across eight front-office functions and then compared these results to the job openings we currently have on our system. The charts below, which cover four levels of experience, will give you an indication of whether your job search will be cinch or a struggle (the lower the number, the fewer people their are for each job).

In the seven-to-10-year and 10-to-15-year ranges (associates and directors to managing directors at most banks), private bankers face fewer rivals than anyone else – with just three and six resumes per vacancy respectively. These results confirm that Hong Kong’s long-standing demand for (and shortage of) relationship managers (RMs) is showing no sign of abating, especially at the mid and senior levels where RMs’ client connections are longer established and more valuable to banks.

Even private bankers with one-to-three or three-to-seven years’ experience enjoy a relatively buoyant job market in Hong Kong – their sector is the second and third best respectively in which to search for work. Private banks, including industry leaders UBS and Credit Suisse, are hiring in the city, which serves as a wealth hub for growing numbers of Chinese millionaires and billionaires. But because the supply of new RMs hasn’t kept up with this growth, candidates are thin on the ground.

Looking across front-office banking in Hong Kong, you’re best placed to move jobs right now as an associate or vice president (VP) – all eight front-office functions at both these levels have fewer than 20 resumes per vacancy. As we’ve already reported, investment banks in the city are retaining or even bolstering their middle ranks, even as they trim more senior staff.

Which candidates face the hardest job search in Hong Kong? The fourth chart shows a huge glut of CVs (61 for every position) at director level in…equities. The function has been ravished by job losses in Asia at banks including BarclaysDeutsche Bank, BNP Paribas, CLSANomuraCIMB and Jefferies. Costly, underperforming directors have been disproportionally affected by these cuts.

The first chart serves as a warning to junior bankers looking to move firms before they’ve clocked up three years’ experience. There are more than 20 analyst CVs per job opening in all eight sectors – while impatient young bankers may want to job hop right away, it’s easier to do so once you’ve reached associate rank.

Image credit: dewpak, iStock, Thinkstock

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