Difficulty breaking into banks
It is difficult to say whether job trends in the Hong Kong banking industry remain positive or not. It is easy for those with a proven track record in the industry to find a job, although it is difficult for professionals or university graduates to break into.
Employers are not prepared to hire people with potential if they do not have experience to match. Those with a couple of years’ experience in the industry are advised to complement this with relevant postgraduate studies depending on what field they are in, such as a CFA or MBA qualification.
Because the Hong Kong banking industry is still being affected by the economic downturn in the US and Europe, it benefits greatly from the mainland market. Chinese banks have actively increased the scale of their operations in Hong Kong and have been hiring high-calibre talent to set up and develop their teams here.
The mainland is also the major export market for Hong Kong’s banking services. The Bank of China announced in 2010 that it was going to issue renminbi bonds with a maximum value of 20 billion renminbi before the end of 2012. This has given Hong Kong a significant role in the renminbi bond market.
Sharmini Thomas, regional director, Michael Page International
As told to Chiu Po-sze