Hiring trends in Hong Kong
In 2017, banking and financial services sector is expected to face challenges on the back of complex global economic and monetary conditions coupled with a slowing Chinese economy. Further layoffs and changes in strategy are expected at certain global investment banks as they commit resources to core business lines.
The rising demand for new innovative technology and cyber security, a by-product of the more stringent security regulations and stronger awareness in the market, are the main drivers of the exponential growth of the fintech sector in Hong Kong. The general talent shortage of specialists in fintech, mobile development, e-commerce, big data and cyber security will create a buoyant hiring demand for these talents.
In the legal/compliance sector, there is a growing need for lawyers to help companies in previously unchartered territory such as P2P and mobile financing, which involve challenging regulatory matters across multijurisdictional platforms.
Overall, we anticipate salary levels to remain broadly flat for most industries in 2017.