Is it a good time to move to Hong Kong?

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  1. #1

    Join Date
    Aug 2011
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    3

    Is it a good time to move to Hong Kong?

    I am on the verge of relocating from Kuala Lumpur to Hong Kong. I have almost accepted a software programming position at a leading European bank’s private-banking IT team in Hong Kong. The position, (“QA and release manager”) itself looks very interesting and comes with decent salary and benefits. When you throw in the allure of living in one of the trendiest cities on earth, it is really tempting to move there. However, with the sudden market meltdown seen in the past few days, I am getting more anxious about accepting the job offer and moving there.

    Would it be wise to move to Hong Kong now? What’s the ground reality in this sector (banking-IT) out there in Hong Kong? Have there been any unannounced lay-offs? Are banking-IT jobs more vulnerable, within banks, in bad times? They seemed to let a hint slip through that, in general, private-banking teams may not see brutal cuts in a downturn. Is that true?

    I know my questions may sound vague (or insane ) and unanswerable. Yet, any help to share useful information that can aid me in my decision-making will be highly appreciated.

     

    Thanks,

    Ian


  2. #2

    Join Date
    Oct 2005
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    14,414

    Too early to tell

    Within IT those on projects are most likely to get canned if any right now.


  3. #3

    Join Date
    Sep 2010
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    Tung Chung, Kowloon, Hong Kong
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    you better name the bank. Loads have and are in the process of relocating or outsourcing to places like Malaysia, Philippines, India for all of their IT work.


  4. #4

    Join Date
    May 2011
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    Where is your home country? The HKD is pegged to USD, which means there is a significant risk that your income will be worth less and less over the long time relative to your home currency.


  5. #5

    Join Date
    Aug 2011
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    Quote Originally Posted by DavidTC:
    you better name the bank. Loads have and are in the process of relocating or outsourcing to places like Malaysia, Philippines, India for all of their IT work.

    Thanks, sincw itmay not be right to name names, i will PM you...

  6. #6

    Join Date
    Aug 2011
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    Quote Originally Posted by TonyZ:
    Where is your home country? The HKD is pegged to USD, which means there is a significant risk that your income will be worth less and less over the long time relative to your home currency.
    I am from Malaysia. I thought about the currency risks too. My main reason for considering the offer is gaining international experience (and enjoying the benefits of staying away from typical asian parents, for a while ...