It was a good year for bonuses in Hong Kong.
More than half of Hong Kong finance professionals received a larger bonus in 2010 than 2009, and the average bonus was 25% larger—nearly double the 13% average increases in Singapore and Australia, according to a survey by eFinancalCareers. In the U.S., bonuses were down 5%.
Still, the survey found a third of Hong Kong finance professional were dissatisfied with the amount, and 45% are looking to change firms. (Another 13% are looking for new positions within their existing companies.)
“Widespread bonus dissatisfaction amongst Hong Kong professionals will likely fuel post-bonus turnover across the city’s finance industry,” said George McFerran, head of Asia Pacific for eFinancalCareers, a London-based job recruitment site. There’s major hiring across all business sectors within finance in the region, he said.
The big bonus winners in Hong Kong were on the sell side, where bonuses on average were 48% larger than on the buy side, and in the front office, where bonuses were five times those in middle or back offices.
The survey polled 6,364 finance professionals, including 1,016 in Hong Kong, with the rest in the U.S., UK, Australia and Singapore.
More than half of Hong Kong finance professionals received a larger bonus in 2010 than 2009, and the average bonus was 25% larger—nearly double the 13% average increases in Singapore and Australia, according to a survey by eFinancalCareers. In the U.S., bonuses were down 5%.
Still, the survey found a third of Hong Kong finance professional were dissatisfied with the amount, and 45% are looking to change firms. (Another 13% are looking for new positions within their existing companies.)
“Widespread bonus dissatisfaction amongst Hong Kong professionals will likely fuel post-bonus turnover across the city’s finance industry,” said George McFerran, head of Asia Pacific for eFinancalCareers, a London-based job recruitment site. There’s major hiring across all business sectors within finance in the region, he said.
The big bonus winners in Hong Kong were on the sell side, where bonuses on average were 48% larger than on the buy side, and in the front office, where bonuses were five times those in middle or back offices.
The survey polled 6,364 finance professionals, including 1,016 in Hong Kong, with the rest in the U.S., UK, Australia and Singapore.
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