Like Tree320Likes

The Decline of Expat Bankers

Closed Thread
Page 1 of 47 1 2 3 4 9 ... LastLast
  1. #1

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,964

    The Decline of Expat Bankers

    A pretty good article in Bloomberg covering many of the reasons why it is difficult for unaccomplished expats / fresh grads and even mid-tier professionals, to get a job in the finance industry.

    “Young junior bankers without language skills are so rare these days,” said Quinlan, 33, who now runs his own financial consulting firm.

    Most global banks have tried to bring in Chinese power brokers. Many of these bankers are not only bilingual but also bicultural -- products of elite Western universities who can move seamlessly between China and the global Wall Street. Many also bring deep connections to China’s leadership and state-owned enterprises. Now mostly in their 40s and 50s, they include Morgan Stanley’s Wei Sun Christianson and Credit Suisse Group AG’s Janice Hu.

    For the most part, divisional and regional leadership roles in Hong Kong are still held mostly by expatriates. But a new generation of Chinese financial pros, most with language skills and many with top degrees, have filled the lower ranks -- and seem destined to rise.
    https://www.bloomberg.com/news/artic...a-deals-beckon

  2. #2
    Original Post Deleted
    I dont understand why you think this is so funny. Its happening across all industries, so each of us might be hit by this process.
    shri and HK_Katherine like this.

  3. #3

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,964
    Quote Originally Posted by bargfeldstegen:
    I dont understand why you think this is so funny. Its happening across all industries, so each of us might be hit by this process.
    But you're right, seeing this across all sectors with very very few exceptions at the moment. "Might" implies uncertainty. I think it is more of a question of how soon. Even English teachers will need to be bilingual, if that is not the case at the moment.
    kpelszyn and Fiona in HKG like this.

  4. #4

    Join Date
    Oct 2014
    Posts
    4,188
    Quote Originally Posted by shri:
    Even English teachers will need to be bilingual, if that is not the case at the moment.
    I think there's no chance of this happening anytime soon. There is one teacher at my kid's kindy who is a bilingual English teacher - she speaks with a slight accent but her English is completely fluent - and the local parents don't like her. I looked at another kindy and heard a similar complaint about another bilingual English teacher.

    The people who are genuinely bilingual with no accent in English and Chinese can get better paid jobs than teaching.
    Titus likes this.

  5. #5

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624
    Original Post Deleted
    For one, this new breed of applicant, is, as highlighted by the article, mostly Chinese.

    Nothing wrong with that except it makes HK even more Chinese in a certain way and lose it's international aspect.

    We have plenty top Chinese guys here with Kellogg or Wharton degrees. They are NOT westernized one bit. Yes on the surface, they are, but ultimately they remain for most, proud Chinese.

    Again, nothing wrong with that, it's supply and demand - It may be better it may be worse but it certainly remove some international aspect to the profession.

  6. #6

    Join Date
    Dec 2002
    Location
    薄扶林
    Posts
    47,964
    Nothing wrong with that except it makes HK even more Chinese in a certain way and lose it's international aspect.
    After a few drinks, conversations tend to lead to one common line of thought - "ethical diversity".

    Perhaps it is cultural.. I tend to think it is. Perhaps it is that immigrant mentality and the rush to become successful.. again, I think it is.

    I think this applies to all professions.

    (I know I'm going to get slammed... but...)
    Fiona in HKG likes this.

  7. #7

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624
    Quote Originally Posted by shri:
    After a few drinks, conversations tend to lead to one common line of thought - "ethical diversity".

    Perhaps it is cultural.. I tend to think it is. Perhaps it is that immigrant mentality and the rush to become successful.. again, I think it is.

    I think this applies to all professions.

    (I know I'm going to get slammed... but...)
    I may be drunk already but didn't get your point?
    juanalias likes this.

  8. #8

    Join Date
    Jun 2004
    Location
    HK
    Posts
    14,624
    Original Post Deleted
    It's a big world. They will get job elsewhere, like we did,

  9. #9

    Didn't need a CV to get a banking job. And they call the young generation entitled?

    I think this guy has just taken things for granted. It just means, if one doesn't want to lose out, one should learn Chinese. Off to Chinese camp in Taiwan for my two boys.

    shri and kpelszyn like this.

  10. #10

    Join Date
    Aug 2013
    Posts
    800

    That's why our kids are in local school, till secondary that is.

    Skyhook and chingleutsch like this.

Closed Thread
Page 1 of 47 1 2 3 4 9 ... LastLast