Singapore's 23-year-old bankers could be better off in Hong Kong
If you’re a young banker in Singapore, it might be worth considering a move to Hong Kong.
Selby Jennings, the recruitment firm, has pegged the salaries (bonuses not included) of investment bankers from analyst to MD level in both cities – and at every level, Hong Kong comes out on top.
The discrepancy is biggest at the bottom of the pyramid. Analysts in Singapore can expect to earn between $104k and $148k (all figures in USD, by the way), whilst their equivalents in Hong Kong can see pay packages between $130k and $208k.
The spread tightens slightly further up the ladder, with Singapore’s vice presidents expecting a salary between $237k and $281k, whilst Hong Kong bankers expect a salary between $208k and $299k. Again, bonuses aren’t included.
The benefits of being a banker in the Bay might come with some drawbacks, however. It’s well known that bankers in Hong Kong work more. There’s more pay discrimination against women – and the city is (somehow) more expensive than Singapore.
But if it’s bragging about the bottom line that you want, and to hell with all of that other stuff – well, move to New York, says our compensation report.
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