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Hope you’re well and enjoying a successful and productive 2015.

We wanted to take the opportunity to keep you apprised of what is going on in the IT recruitment market.



Market's general performance

 
Interesting market info:

  • The rise of FinTech: We see many Finance Technology startups opening up in Hong Kong. Companies that are well-funded and headquartered in the US have been opening up offices in Hong Kong. Commercial Banks see this as a threat to their business and have been investing in R&D to retain their competitive edge. The banks are better financed but suffer from stronger regulation whereas the startups aren’t as capitalized but are not overly regulated either

  • Introduction of e-cheques and peer to peer payment technologies: 9 banks are supposed to participate in HKMA’s e-cheque system which is launching this December. Peer to peer payments using something like the Octopus card or a mobile phone is also on the cards. This could mean that banks could be developing mobile apps and other online technologies to facilitate this. Technologies used in this initiative are usually J2EE/J2ME related and iOS/Android related

  • Internal Social Networks for banks: Many banks are investing in their own internal Social Networks for communication. Something that they can use for sharing information across a large number of staff and something they can use to train new staff

 
Trending technologies and hot roles:

  • C#.NET/Java: Many Investment Banks and Securities Trading firms are hiring C# guys now, more so than before. This is because the new .NET 5.0 Framework is a cross platform framework that can run on Linux servers too. This means that companies don’t have to have separate Windows servers to host applications, which in turn is making .NET-based programs more ubiquitous. Java knowledge also adds value as the back end for existing applications are usually written in Java

  • Risk and Regulatory roles: Due to increased and new regulations, banks have been hiring in the IT risk space, especially in the Technology Risk Assessment area. We have seen banks look for experienced and senior level people in this area

  • Networking roles: A lot of the banks are investing in low latency network architecture. Ideally, someone with knowledge of IT Security and low latency networking topology design. We’ve seen several new projects being rolled out in this space

  • Quantitative Development, HTML5, C++: Other roles that continue to be in demand are quant roles where the candidates can implement their own strategies using C++ (previously separate teams used to do that). HTML5 continues to wage war on VBA-based spreadsheets. C++ and low latency development for that speedy competitive advantage has also been a sought-after skill-set

General state of the job market:

  • Banking Technology : There was certainly news of downsizing among European banks within IT in Hong Kong (resulting from a global downsizing initiative). Some of the local banks also started to slowly hit the brakes following the crisis in China. Some have moved development teams to Shenzhen. However, it’s definitely not all gloom and doom. American banks continued to hire across Associate-VP level roles. Contracting roles have been on the increase as well

  • Insurance Technology: Tech roles within the Insurance space continued to remain active. This has also been as a result of certain acquisitions made by global Insurance Firms. They are in the midst of consolidating and integrating technologies

  • Retail Technology: Our Commerce and Retail clients have largely been quiet in terms of hiring and roles that we have been seeing are mainly replacement roles. This area may improve only when China’s situation improves


Career Tip:

Proof check your ‘Thank you email’ to the hiring manager

  • Candidates wanting to leave a long lasting impression with the hiring manager they just interviewed with tend to send ‘thank you’ emails to them. However, some of those letters are simply copied and pasted from the internet or are full of mistakes. No email is better than a bland, insincere or plagiarized email. If you want to send one, be sincere about it, genuinely express what you liked about the role and proofread your email for mistakes before sending it!

Hope you found this information useful. Please do contact us should you need more information.

If you are thinking about a change, check out our latest hot jobs!

Vince Natteri,
Managing Director
     


Pinpoint Asia | Specialist IT Recruitment
Suite 406, Tower 2, Lippo Centre | 89 Queensway,
Admiralty, Hong Kong
Main: +852 2375 5000 | http://pinpointasia.com/

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