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No permanent fix

Published on Sunday, 29 Sep 2013


Christopher Aukland is regional director at Michael Page in Hong Kong

"Investment banks remain very cautious about increasing permanent headcount in IT and operations, with most hiring being for replacement. We have seen an increase in temporary hires for banking back office roles in 2013 in an effort to cut headcount and costs. Where permanent headcount has been added in IT, this has typically been in niche areas.

"Operations continue to be relatively quiet this year and we are still seeing banks moving their back-office operations to cheaper locations such as Singapore and India.

"Base compensation in Hong Kong in IT and operations has remained consistent in 2013, with salary increases in line with the overall market. Professionals in IT and operations typically expect salary increments of between 10 to 15 per cent when changing roles, and high performers with in-demand skills are expecting up to 25 per cent."

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