It’s early June, an important time for the rising stars and achievers. Most companies will be conducting a performance review around now, so for the people who believe in paving their own success, Links’ has prepared an Asia market update series.
Over the following weeks, we will be publishing our mid-year market update for the various industries we cater to across Asia. Aimed to help you get a better grasp of the Asian market, our goal is to provide you the resources to be an influence in the business.
In fact, at the beginning of every year, we prepare our Asia Salary Snapshot, a salary guide for professionals in Asia that details market trends in recruitment and expected salaries for different positions within the industries we cover. We hope you find the following information useful and if you require any further information on these sectors or would like to discuss your talent acquisition strategy please do not hesitate to contact us to speak to one of our award-winning recruitment specialists in Asia.
Hong Kong
Job Vacancies & Hiring Intentions
There’s been a prolonged recruitment drive for experienced candidates across many of the international and regional investment banks in Hong Kong. From stable operation officers, to VP level candidates and above, the market has been driven by high value talents. The demand is especially high for revenues driving roles, with the market hungry for candidates with an extensive APAC experience.
Market Climate & Predictions
In Hong Kong, Chinese platforms continue to grow. However, Financial services firms have shied away from excessive hiring, making an effort to really build their teams with key hires.
Bonus payments has been relatively stable in Hong Kong, with the general understanding of movement once bonuses are received. With many candidates gearing towards new opportunities, financial services firms has generally been focused on making replacement hires in Q2 2018 which we predict to continue into Q3 of 2018, gearing more towards junior mandates.
Singapore
Job Vacancies & Hiring Intentions
In order to achieve greater efficiency and effectiveness, we see an increased demand in the market for compliance positions. This is mainly driven by the continuous changes in the MAS (Monetary Authority of Singapore) framework, with firms looking to the better equip themselves for the year to come.
Market Climate & Predictions
In Q1 2018, hiring for Finance & Operational positions was slow-moving, however there has been a demand for positions in Financial Analyst and Regulatory Reporting Finance hires in Q2 2018. This could be due to the MAS framework overhaul which would include enhancements to MAS 610 regulations.
For back-office hiring in Q1 2018, hiring demand for middle-level KYC and Client Onboarding Specialists continue to be eminent however in Q2 2018 there has been a rise in demand for senior-level KYC Specialists. Across Q1 and Q2 2018, we have seen a rise in conversions of contract staff within KYC and Client Onboarding to permanent employees as more banks are able to acquire headcounts for more permanent hires.
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If you’re looking for more insights into benchmark salaries in Asia, click below to receive our 2018 Asia Salary Snapshot.
