Another route into finance for Hong Kong students

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Another route into finance for Hong Kong students

If you’re a Hong Kong resident and new graduate looking for a route into finance then the Hong Kong Monetary Authority’s banking talent programme could be worth considering.

The HKMA and the banking industry launched the programme last year to provide fresh graduates with short-term work opportunities, with a view to alleviating the impact of the COVID-19 pandemic on the supply of young talent to the banking sector.

The programme is being offered again to upcoming fresh graduates this year through offering six-month work opportunities and professional training starting September 2021.

The training involves a series of organised induction seminars offered by the HKMA, in collaboration with the Hong Kong Academy of Finance and the Hong Kong Institute of Bankers (HKIB). It covers a wide range of topics including bank operation, treasury markets, capital market, insurance and wealth management industry, fintech, green and sustainable banking, central banking, as well as career paths in the banking industry.  

This is in addition to any in-house training provided by the participating firms. Students also get the opportunity to attend industry-specific training courses, such as the professional training under the "Enhanced Competency Framework" offered by the HKIB, the programme will cover a part of the course fee as an incentive to encourage learning.

The HKMA will start recruiting in May for the 2021 programme, with details made available on the designated website of the programme administrator, the Hong Kong Institute of Bankers (HKIB), when the 2021 programme is officially launched.

Meanwhile, as a result of the pandemic, the 2020 Programme for recruited graduates (2020 Programme) has also been extended until 31 August 2021 in cases where participating firms still have jobs to fill.

The programme is open to Hong Kong residents, who are graduating from a Bachelor's degree programme in 2021. 

Around 9,750 applications were received for the 2020 programme, according to a spokesperson for the HKMA, although since applications were made directly to individual participating firms, some graduates probably lodged more than one application. Following a screening process, usually involving interviews, with participating firms, 370 jobs were offered to the successful applicants. The jobs were six months in duration, with a monthly salary of HK$12,000. Last year the list of participating banks included BNP Paribas, Citi and UBS. This year it will be revealed when jobs are posted in May 2021.

Photo by hiurich granja on Unsplash

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