Around the World: Job Switchers in China Expect 30 Percent Pay Bumps

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Want a 30 percent pay rise each time you change companies? China is the place

Pay increments for those switching jobs won’t be great in Hong Kong and Singapore this year, with 15 percent considered near the top end. But if you’re moving in mainland China, expect to be a lot better off at your new employer. [Hong Kong]

Investment banks in the UK expect to hire 2,700 graduates this year, on median salaries of £45k

Strangely, perhaps, investment banks in the UK are both hiring more graduates and paying their graduate hires more. A report out today from the graduate research company Higher Fliers suggests leading investment banks expect to hire 2,700 graduates this year, an increase of 5 percent (or 123 people) from 2011. [UK]

Here’s how your career could actually benefit from banking-sector cost cutting

The current round of belt tightening at banks is reshaping the employment market beyond the obvious redundancies and recruitment freezes: behold the rise of the interim manager in Asia. [Singapore]

Equity researchers in the Gulf need to seriously start considering their career options

With trading volumes on GCC stock markets in the doldrums for some time now, demand for quality equity research has dwindled… This is all part of a longer term trend to cut costs in equity research in the Middle East. Previously, regional institutions were looking to relocate their research teams to lower cost locations. Arqaam Capital has built a team in Beirut, EFG Hermes hired in Jeddah and Lebanon is generally viewed as a more cost-effective location to base research teams. [Middle East]

IT contractors are accepting rate cuts with grim resignation, but seeking new opportunities anyway

IT contractors in investment banks hoping to secure a slight rate rise by switching jobs are likely to be disappointed – firms are demanding to see current rates before signing off on new hires to ensure they don’t overpay. However, there are signs that contractors are still willing to move roles, even if money isn’t the main motivation. [UK]

How to ask for a pay rise when your bank has frozen hiring and is sacking your colleagues

With not as many external vacancies around as last year, you could be stuck in your current job and have to negotiate with your boss if you want a pay rise. Here’s a guide to handling those awkward internal salary discussions. [Japan]

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