Finding a Finance job in Hong Kong

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  1. #1

    Join Date
    May 2012
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    10

    Finding a Finance job in Hong Kong

    Hi all,

    I am currently in Australia and about to move to Hong Kong in July (tickets are booked) so that I can be closer to my aging family. As a result I have been looking for work in Hong Kong for the last couple of months without much success.

    I am a trader/portfolio manager in the fixed income space, and have been working in the industry for about 6 years already. I was also born in Hong Kong so am a Hong Kong citizen. In terms of language, I speak English, Cantonese and Mandarin fluently. I also have 2 degrees in Commerce and currently studying Masters as well.

    Of some of the feedback that I have been getting from some headhunters, they are saying that most recruiters don't even bother with looking at your resume the moment they see that you're not physically in Hong Kong.

    In all honesty, I not saying I'm the best person for every job, but at the same time, I don't think that I am so unqualified that I am not even getting a call back (or being short listed) for some of the roles I am applying for.

    Since that there are obviously much more people on this forum who have gone through the same process and experience, I want to seek out some honest opinion and advice as to whether it really is my location that is making the difference or also what are the chances of me getting a job once I am in Hong Kong in July (if I haven't gotten one by then.)

    And if there are any other advice about moving to Hong Kong and job search it will be extremely appreciated.

    Thanks heaps!


  2. #2

    Join Date
    Nov 2007
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    I think with your experience, your PR status and your spoken languages that you should not have too many problems securing a job ONCE you are in Hong Kong.


  3. #3

    Join Date
    Oct 2005
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    14,414

    Yes location makes a big difference and regardless of how good you think you are you usually won't be considered for any roles till you're physically here.

    Start networking through LinkedIn etc if you haven't done so already.


  4. #4

    Join Date
    May 2012
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    10

    Thanks for the responses and advice, yes, I have recently joined Linkedin as well, haven't not used it before, not sure how important it really is to be honest, guess the job search scene in Australia is a bit different.

    Definitely don't think I am good, but at the same time, have questioned "I can't be SO bad right?" as so far, luckily, I haven't had that much trouble locating a job here (Sydney).

    Anyone have any insights as to why recruiters or companies don't bother with your cv/resume when they see that you're not there? And also, any insights as to expected income?


  5. #5

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    Oct 2005
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    They don't want to waste their time by contacting somebody that's not available for short notice interviews etc. And they usually regard overseas applications as speculative and not serious.


  6. #6

    Join Date
    May 2012
    Posts
    10

    Terrific, thanks Trebor and Jimbo for the insight...as much as I think that I should but at least able to land a role, it is worrying that I haven't received too many callback (think I've received like 4 in the last month..)..kinda hits you and starts making you worry whether there's something wrong with your credentials.

    In terms of sorting things out now, I understand that you're suppose to have passed the HKSI LE Papers 1, 4, 7 and 9 in order to register with then SFC? Have already enrolled in those exams to be done once I get there...hopefully that will improve my chances...

    Also planning to start calling directly about the role in about 2 weeks time to tell the recruiters that I am coming to Hong Kong and am keen...not sure if that will help...

    Another question that I have to bother people about...prior apologies...is what would be the expected into for someone in trading or portfolio management? Does anyone have any idea? Cause Australia's income is high...but then you pay a large portion of it in tax...so guess my expectations should be a bit lower.

    Thanks!!


  7. #7

    Join Date
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    http://www.classifiedpost.com/pdf/Cl...Index_2012.pdf

    This should give you an indication of expected salary.

  8. #8

    Trebor, I believe it's 17%. Not too shabby when you compare it with other Western nations, like Canada, where you can expect to pay between 30% and 40% if you're in a higher income bracket. Australia is quite low compared to other Western Nations.


  9. #9

    Join Date
    May 2012
    Posts
    10

    Thanks Trebor for the file, gives a much better indications.

    In terms of tax system in Australia, I currently pay about 35% tax effectively...the nominal tax amount is like 40% prior to tax returns and stuff, so it is quite high in my opinion, although still not higher than in the UK I think...not entirely sure

    Well...as much as I know where my expectations are...still means nothing until I finally get a job...

    Having sorted rental for the first month, it seems that the major expense is rental...because food and daily upkeep seems a lot more managable than in Sydney.


  10. #10

    I think another issue is that fixed income is not really a great skill to have in HK. Most funds are in credit/equity space and when you tell them you have traded credit, if it is not fundamental balance sheet analysis, they will most likely consider yourself not "fit" for the role. I am not saying there aren't many places for fixed income trading, but the positions are few and far between.


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