While it is common for MBA graduates to pursue
corporate banking jobs after completing their studies, many may choose to expand their horizons by moving abroad. The number of countries to choose from is endless, but many may find the allure of China irresistible. For those who decide to move to a Chinese city, the life of a corporate banker in Hong Kong can be an incredibly rewarding experience. The booming economy long synonymous with the city has naturally affected the
corporate banking industry and many opportunities are available for the right candidates.
Life as an expat in Hong Kong can be exhilarating. The city is known for its tourist attractions, food scene, and nightlife. Coupled with interesting and challenging work assignments, it is an excellent place to live in and build a career with the multitude of banking roles available, including
commercial banking jobs. There is a large expat community of people from all over the world, so you can be sure you will make some new and interesting friends. Naturally, there is plenty to do and see, and experiences you can’t have anywhere else.
But be careful not to allow the glow of the city to detract from work. While all work and no play can be less fun, the work certainly matters. Investment banking is known for its high-stress environment, and Hong Kong is one of the most important financial centres in the world. Career opportunities certainly exist, and have grown over the years, but make no mistake, it is extremely competitive. As a general rule, you should be able to speak Cantonese or Mandarin, in addition to English. Previous experience is important as well, and if you don’t have any, it’s best to simultaneously gain experience working in corporate banking and begin learning the language.
Although the traditional roles of corporate banking exist, such as
commercial relationship manager jobs, in some shape or form in Hong Kong, including investment banking, treasury and cash management, and trade finance, you should be aware that the industry is still developing. The financial markets in China and the rest of Asia are young in comparison to more developed economies in the eastern hemisphere, and who you know (instead of what you are capable of doing) still plays a large role in closing deals. The longer you stay in the region, the more opportunity you will have to build a large network of clients and connections.
While the potential for growth in corporate banking in Hong Kong remains high, the opportunities can vary in prestige, and may be tougher for expats, especially when in competition with returning locals. However, longevity is key, as becoming an expert in the local industry can make all of the difference in having a job at a bank or having a more lucrative career in banking.
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