Career CPR: I'm an Asian i-banker and Australian permanent resident but I just can't get a job here. Help!

8 June 2011

2 minute read

Career CPR: I'm an Asian i-banker and Australian permanent resident but I just can't get a job here. Help!

Review this candidate's problem and provide some solutions in the comments box below.

His dilemma

"I am an Asian investment banker with 10 years' experience in Malaysia and an Australian university degree. I became an Australian permanent resident last year but haven't got any interviews with investment banks or boutique advisory firms. Headhunters tell me it's tough for Asian bankers because we don't have the client networks and deal portfolios of local candidates.

Is there any chance that investment banks here would be interested in the generic skills that an Asian banker can provide at the initial stage of a deal? I believe that domestic relationships can be built over time."

Core competencies listed on his CV

· Mandate origination and management of transactions of up to US$3.0bn in value.

· Advisory on deal structures and strategic analysis for mergers and acquisitions.

· Structuring of debt capital funding via bonds or syndicated bank lending, acquisition finance, initial public offerings and equity placements for listed corporations on the Malaysian Stock Exchange.

· Lead discussion of presentation decks or pitch books on equity and debt funding for corporate clients.

· Project management in a deal lifecycle from acceptance of mandate to completion, including procurement of necessary internal approvals.

· Develop and sensitise financial models for deal structures.

Our expert's take

Luke Heath, chief executive, Chandler Heath Executive Recruitment, provides some advice.

· Apply to the big four accounting firms' corporate finance departments.

· Approach the major banks to work in Islamic finance.

· Apply to non-financial companies in the ASX 50 to join their corporate finance/strategy teams

· Network with senior alumni from your Australian university who now work in the financial sector.

· Make sure your CV is clear about your personal contribution to deals. This can be done within the main body of the resume or as an addendum page listing deals and contribution.

· You are a permanent resident with a range of transferable skills. Don't pitch yourself as an "Asian banker", but rather a banker with "extensive Asian experience".

What do you think? What types of roles should this candidate apply for? Let us know below.

If you'd like your own career dilemma to be published (anonymously) on eFinancialCareers, please email apac.editor @efinancialcareers.com.

AUTHORSimon Mortlock

Content Manager

Br
Brandon
12 August 2011
I agree with David (26 June 2011) that you will find it very hard to find a job here....especially if you count on recruiters (the big name ones especially; that said I have had good experiences with the boutique recruiters and I recommend getting in touch with them). I haven't had good experiences with the bigger name ones; after awhile it seems to me that they don't actually know what the jobs entail and are just regurgitating and talking up the JD that their clients provided them. just to re-emphasise my point - look on Seek and you'll see advertisements for recruiter jobs being pitched as sales jobs, which means that placements to them are transactions and they just want to fill the orders from their clients. Job fit, culture fit and all the hiring hoo haa that recruiters ask you when you speak to them? I think it's BS. At the end of the day companies and bosses want people with a good work ethic and who will get the job done. Period. Better off contacting the companies direct or going through industry contacts.
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Al
Alan
6 July 2011
Yes, many from Asia have failed to find jobs here. But there are also those who have succeeded.
You need to find those who are open minded (both recruiters and employers) and willing to give you a fair go. Heck, the term "fair go" is supposedly Australian...
I second solution's comments, i.e. don't let yourself be bitter.
Remember it has been done before and it still can be done. The only question is how badly you want it.
If you are well connected in Asia you might want to see if you can wrangle enough funds to start a small PE fund specialising in managing Asian monies seeking to invest in Australia. The other frustrated iBankers with Asian exp will flock to you...
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Da
David
26 June 2011
My observations : you will find it very hard to get a job here in Australia.
The best for you is to try somewhere else,since most of the jobs in Australia are Clients service anyhow.
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Gr
Grace
25 June 2011
You need the grace of God dude :)
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pi
pistol2011
21 June 2011
Sad to say, your Malaysian experience does not count much in OZ, unless you experiences were gained from NY, London or even HK or Singapore then the chances of getting employed in similiar capacity is higher. There's a lot of Asians working in the banking industry here in Oz so race is not the problem. However, as a new comer to the country (especially someone with Asian background - with the exceptions of Australian born Asians), you are probably being judged from the cultural fit perspective more than anything (of course communication skills play a big part as well) hence you really need to sell your niche and empahsis your 'soft skills' than the competency skills (unlike Asia). Lastly, you might have to lower your expectation to start low but you could go far after a few years exposure in the Oz market or so-called the 'local experience'.
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