Terrible tech talent shortages grip Hong Kong banking sector

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Terrible tech talent shortages grip Hong Kong banking sector

Talent shortages in Hong Kong banking technology have reached extreme levels across many job functions, new figures reveal.

Hong Kong banks are desperate to recruit and retain more technologists but they face increasing competition for talent from the likes of Alibaba, Tencent and Google. This is good news for tech candidates as the job market turns dramatically in their favour. But in which specific functions within banking technology will they face the most straightforward search for work?

To find out, we analysed our database across 17 key banking-tech sectors and compared the number of Hong Kong-based vacancies in each category with the number of local CVs.

In the sectors toward the top of the table below, candidates are currently enjoying ‘easier’ job searches. Engineers (only 0.3 resumes per opening), architects (0.8) and developers (2.2) are all in short supply in Hong Kong banking.

Within these broad roles, Python skills are highly sought after, says Vince Natteri, director of Hong Kong search firm Pinpoint Asia. “Python is becoming more popular both as a primary development language and as a language used by quants and analytics teams,” he adds. “Many banks also want Java developers, especially people who know Java 1.8 as it also has a function-language feature in it. The good Java guys are hard to find in Hong Kong.”

Professionals who can act as a bridge between technology and the front office might also want to take advantage of the current job market. If you work in product management, digital transformation, change and transformation, or program management, you will face fewer than three rival candidates during your job search, according to our database.

In comparison to non-technology jobs in banking, however, even the roles lower down our list are in high demand. There are only three local resumes for every Hong Kong-based cyber security job, for example.

Cyber and information security are both hot areas for recruitment in Hong Kong, with demand being driven not just by the threat of online attacks, but also by the need to comply with increasingly vigorous regulations.

Have a confidential story, tip, or comment you’d like to share? Contact: smortlock@efinancialcareers.com

Image credit: namussi, Getty

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