Thursday, September 13, 2012

Best Cities in Asia to Find a Job in Finance

Best cities in asia for finance job, financial analyst, tokyo, shanghai, hong kong,
 Asia has became a major spot for expats especially in the Financial industry, despite the current global turmoil growth in asia continues to be steady. Four major cities in Asia rank among the top 10 financial centers in the world and major investment banks are hiring especially for entry level position, Citigroup, HSBC, Barclays, Nomura, Barclays are all hiring in their asian branches, moreover the asian hedge fund industry is also expanding.
According to the Global Financial Center Index which ranks the top 75 financial centers, Honk Kong (3rd), Singapore (4th), Tokyo (5th) and Shanghai (6th) are in the top 10 and give us an idea of the current opportunities in Wealth Management and Investment Banking in asia.

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Hong Kong: 3rd best financial center in the World

Hong Kong  between western influences and China"s wealth is a global financial spot and can be compared to London and New York, indeed more than 80% of the the best banks in the world have  already an office there and the the local stock exchange is the second biggeest after the stock exchange of Tokyo.
Risk management is the new trend in Hong Kong, along with the global crisis, FRM and CFA Chartered Financial Analyst applicants are highly considered.
The competition is tough and thousands of applicants are throwing their resume as the city has became the first choice for expats in Asia, moreover foreign investment banks have started for few years already to hire local candidates and being a foreigner is not gonna open all the doors anymore.

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Singapore (4th)

The place to be in Asia for investment banking, the city-state of Singapore is the perfect place if you like everything to be neat and precise, indeed it will cost you 200 singaporean dollars to spit in the street, all the big IB are there and there is a serious shortage of skills in risk management, compliance and audit, FRM and CFA certifications are highly appreciated. Singapore counts 5 million people and 1 million of them are foreigners so you can guess that this is an interesting place to consider if you are looking for a job in Asia. Most of the openings are for people with 3 to 5 years experience and being already there will significantly increase your chances of getting a job as most of the recruiters only considers people who are already resident. The constant growth of Singapore has made it the city with the highest number of millionaires in the world.

Tokyo (5th)

Unlike its neighbors  Tokyo has more difficulties to bounce out of the crisis and to cope with its deflation, but it has recovered quite well from the past tsunamis and is an example of stability and strengths.
Japan is quite present in investment banking, firms like Mizuho or Nomura are considered as financial giants and are still continuing to hire across Japan and Asia, most of the new positions like in Hong Kong and Singapore are for risk management especially since Japan has tightened his trading limits, but being honest finding a job in Tokyo has became much harder, especially for non-japanese speakers. Moreover an attractive salary package in Tokyo is not so attractive as it has been ranked this year again the most expensive city for expats in the world, while 1000 dollars will pay you a penthouse in Bangkok, it will only get you a 10 sq meters room in Tokyo.


Shanghai (6th) 

Shanghai is the newcomer in the ranking, as an emerging market it has made to the top of the ranking only since few years, the shanghai stock exchange is also among the top 10 largest stock exchange in the world, and the place for some of China g'siant firms IPO.
They are looking for talented people with a global perspective of finance, especially in the trade finance and branch banking in order to offset the lack of experience in those domains from locals.

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