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Hong Kong vs Singapore: Which is best for front-office banking jobs?

Hong Kong has been hit by banking sector redundancies over the past six months, but it is still a better location than Singapore for most people seeking a revenue-generating banking job.

We went through the eFinancialCareers jobs database and found the number of vacancies in Singapore and Hong Kong across nine key front-office functions. We then converted each function into a percentage of the combined total of front-office jobs in both cities.

The chart below shows how Hong Kong (in green) compares to Singapore (in blue) for front-office openings – the higher the percentage, the more vacancies there are in that field in that city.

The figures reveal that Hong Kong is maintaining its traditional dominance in all but two of the sectors we looked at.

Hong Kong capital markets jobs, for example, make up 6% of overall advertised roles, compared to just 3% for Singapore positions in that area. Hong Kong was the world’s top IPO market in 2016.

Unsurprisingly, private banking and corporate banking vacancies are high in both cities, but Hong Kong pips Singapore even in these roles. “Singapore lacks the mainland Chinese client base that fuels turnover and demand for relationship managers in Hong Kong,” says a Hong Kong-based recruiter.

If you’re a candidate in FX or commodities, Singapore is still the best place to base yourself, according to our jobs data. As we noted earlier this month, however, Singapore may be capturing more global market share in FX, but the rise of electronic trading means that’s not translating into a buoyant job market.

Image credit:CasarsaGuru, Getty

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AUTHORSimon Mortlock Content Manager

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