47% of Hong Kong finance professionals say jobseeking is now easy
Market sentiment is pointing to a positive outlook again and this was confirmed with the results of a recent global poll of over 2,300 finance professionals and jobseekers in over 10 countries. Just over 500 professionals were surveyed in China, Hong Kong and Singapore and among those surveyed almost half Hong Kong finance professionals claim that it is easy for them to find a new job in the current climate. The Finance Careers Survey conducted by eFinancialCareers indicating a positive market outlook, with finance professionals in Hong Kong also optimistic about their salary and bonus packages, 46% expecting an increase this year.
According to the survey, finance professionals in China are the most optimistic about job prospects out of all countries surveyed, with 57% of respondents believing that it would be easy for them to find a job in finance and 69% of them expecting their salary and bonus packages to improve this year.
In light of economic recovery, the majority of finance professionals surveyed globally are not concerned with redundancy. With Asian economies recovering faster than expected from the global economic crisis, finance professionals in the Asia Pacific region are least concerned with redundancy compared to other geographies surveyed. Corresponding to the increase of market optimism across the region, 81% of finance professionals in Hong Kong, 82% in China, and 80% in Singapore are not concerned about redundancy in the current economy.
“With renewed market optimism and rising salary and bonus expectations among employees across the Asia Pacific region, the finance recruitment market is becoming more candidate-led,” commented George McFerran, Head of Asia Pacific, eFinancialCareers. He added, “Candidates who were reluctant to move during the global financial crisis are now more confident about changing jobs.”
The survey revealed that over half of finance professionals surveyed globally would consider relocating abroad for work, with respondents in China most likely to move overseas for work. Respondents in Singapore, 62%, and Hong Kong, 53%, are more reluctant to move abroad than their China counterparts.
McFerran added, “As the market becomes more fluid, we expect increased movement of finance professionals in Hong Kong. There are several work drivers that jobseekers will consider when applying for a new role including, salaries and packages, career advancement opportunities, and workplace condition. Out of all countries surveyed, Hong Kong finance professionals are most concerned with remuneration and benefits as they consider pay the most critical work driver, followed by opportunities for promotion, and work-life balance.”
Other factors that finance professionals will take into account when applying for a new job include a company’s CSR practices. According to the survey, 88% of Hong Kong finance professionals would consider a company’s reputation in the industry, followed by its policy and values on work-life balance and employee relations (69%) and a company’s reputation in the community (41%). However, only 23% of finance professionals in Hong Kong will consider a company’s policy and values on ethical, green, and sustainability issues when changing jobs.
Survey key findings at a glance
Hong Kong finance professionals say they:
- Can easily find a new job in the current climate (47%)
- Expect their salary and bonus packages to increase this year (46%)
- Are not concerned or do not feel strongly about redundancy in the current economy (82%)
- Will consider moving abroad for work (53%)
Paul Arkwright
Publisher
