Bank Bonus Time & Job Hunt...

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  1. #1

    Join Date
    Jul 2008
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    Bank Bonus Time & Job Hunt...

    Hi all,

    Can anyone tell me what month the majority of the banks pay their bonuses? I'm in HK job hunting at present but most of the agents I have visited seem to have very little (sometimes nothing) to offer at the moment, saying things will probably start to pick up around bonus time. Do you agree this is likely to be the case? I really just want to get some interviews so I can prove myself, but this seems more of a challenge than I had expected (I don't have a work visa).

    Any suggestions?? I'm on quite a tight budget so time is of the essence really, as I can't afford to hang around in HK forever looking for something if I'm not making any progress.

    Cheers!

    Last edited by newsense; 19-01-2010 at 08:09 PM.

  2. #2

    Join Date
    Aug 2009
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    2,711

    most bonuses are paid in feb, march and april


  3. #3

    Join Date
    Aug 2005
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    before Chinese New Year (This year CNY falls on Valentines Day).


  4. #4

    Join Date
    Jun 2004
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    HK
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    depends where the bank is from but usually:
    US banks in Jan Feb
    Europe Banks in Feb / March
    Japanese Banks not before March
    Aussie Banks not before April /May
    and If I am not wrong Rothschild pays in June.

    that is a broad descriptions...there are always exceptions


  5. #5

    Join Date
    Jul 2008
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    186

    Thanks for the replies... seems like quite a broad timescale between different banks which wasn't exactly what I wanted to hear! Nevermind, will just keep plugging away with the applications I guess!


  6. #6

    Do you mind if I ask newsense, did you arrive in HK on a tourist visa for the purpose of looking for work?


  7. #7

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    Location
    Gulf Region, ex Mid-Levels
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    Newsence - be aware that getting a visa alone will take you 4-6 weeks from the bank and you supplying all the information required by the immigration department. My feedback is also that employers are less fussy now on the language front, but are looking for local experience and client relationships.

    When a company sponsors you, they have to show to the satisfaction of the immd that they were unable to recruit locally (ie Citizens and PRs first). When filling out the form (form the employers side) I had to list all the local candidates we interviewed first.

    PM me if you want to discuss offline.


  8. #8

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    Jul 2008
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    186

    Brace4Impact, yes I did. To cut a long story short, I was offered a transfer back in 2008 with my company in the UK, which was then withdrawn following the economic downturn and headcount restrictions, so I decided to go it alone and look for work here. In terms of job hunting on a tourist visa, none of the recruitment agencies have raised this as being an issue - it's certainly a better option than looking from outside the country I think (aside from internal transfers).

    FTH - thanks for the information. I was aware of the 4-6 weeks waiting time, that's why I'm keen to get to some interviews asap! Yes I think you're right with your observations - language doesn't seem to be a major barrier, but local experience is more of a problem I think. I have been through two rounds of interviews for one job (the only interviews I've had so far) which went very well I believe (awaiting result at the moment), but I did get the impression their major concern was my lack of local experience and they constantly referred to the local market as being 'very different'. So all I could really say in response to that was that is exactly the reason I wanted to move over to Hong Kong (which it was)! I'm keeping my fingers crossed anyway!

    You mentioned the application form, can I ask was that for a finance position or another industry? I got the impression that if the bigger banks are willing to take on an overseas candidate for a position, there isn't likely to be too many issues with the visa application as it is fairly commonplace for such companies. Would you agree, or is it possible I might experience issues on that front as well? I'm hoping not as I seem to have enough things standing in my way already!


  9. #9

    Join Date
    Jul 2008
    Posts
    186

    FTH - If I were offered a job, is it necessary to be in HK for the entire period during visa processing, or can you leave HK and come back after a few weeks?

    Cheers


  10. #10

    Join Date
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    Leaving is the normal approach.


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