Are Hong Kong and Singapore countries/markets really so comparable?

As an expat who has lived in Hong Kong and now Singapore I am often asked which I prefer; and indeed how similar they are. I wanted to put an end to this long-running debate and flatly suggest that whilst there are many similarities to these two global financial hubs they are indeed more different than they are similar!

Yes, they both are islands; and yes the majority of their business is through financial services and exports. Whilst our Morgan McKinley businesses are very similar and closely linked in sector and in size, I find that culturally the two countries are incomparable.

Singapore certainly has a better pollution record and most of its high rise towers have views across the island, unlike Hong Kong. Having said that, the east coast of Singapore is a good example of a booming shipping industry with many tankers parked within touching distance its beaches (many an expat is afraid of dipping in these waters for this reason) and the Indonesian forest burning in late summer creates a smog, but it’s still not a patch on the murky air of Hong Kong.

While Singaporeans officially speak Mandarin and the Hong Kong Chinese speak Cantonese, English is widely spoken in both locations. However, the standard is generally higher in Singapore – it’s more difficult to get around Hong Kong without knowing a word of English.

Some might say that Singapore is a boring place, with little to do, and a rather clinical feel, compared to its more vibrant neighbors – however this is definitely not the case.  Singapore is an arts and cultural club with plenty to do and a relaxed atmosphere. Its transport system and legal framework are incredibly sound and the standard of living is voted as one of the best across the globe. I have to admit family life in Singapore is indeed a dream, and although Hong Kong has the weather seasons (something I miss), the humidity in Singapore is not a patch on the sticky feel of summer in Hong Kong.

One thing’s for sure both economies are in growth mode again and low interest rates and problems in Europe have seen the two countries develop their economies at a similar rate – they are both extremely open and competitive markets.

In banking, Hong Kong has traditionally been viewed as an equities hub, whereas Singapore holds the large sway of debt and fixed income markets. On the same note the majority of the front office sits in Hong Kong, and the infrastructure and controlling (back office) hubs typically sit in Singapore.

Our Hong Kong and Singapore teams work hard to attract global talent and as key financial centres they are both in constant competition with each other. As you can see, I for one prefer life in Singapore but would be interested to hear others’ views on their experience of living and working in these two great but very different locations.

Career advice, career opportunities, Expat, Financial Services, Hong Kong, international careers, Singapore

It’s Sunday afternoon. Suddenly you have that sinking feeling…tomorrow’s Monday. Do you dread Monday mornings? If so, you may be in the wrong job.

Where do you start?

If you were about to embark on a road trip you would probably check your car’s engine and make sure the MOT is up to date. You would have a destination in mind and would plan your route on a map. Starting a job search is much the same. It involves assessing your talents, skills, interests and values, and knowing what you would like to achieve before you retire.

Begin with the end in mind

Ask yourself the big questions. What do you want to achieve?  How would you like to be remembered? What will you say to your grandchildren about your successes in life? What were the highlights? This will give you the road map to you getting your dream job.

Perform your own MOT

Gathering information about yourself will give you knowledge and power. Ask your friends and family to give you feedback on yourself. Understanding what makes you get up in the morning and what is important to you is essential to narrow down and target potential employers. This is a lifelong process and your goals may change as your personal circumstances change. There are many questionnaires and tools available on the internet that may also assist with your self analysis.

Look back… not in anger

Everything you have done in work, education, sports, leisure, etc. required at some point or another, activities you loved and some you did not. How much satisfaction you derive from your work is directly linked to the percentage of activities you enjoy. Think about what you do well. When did you exceed your own expectations? What was the last challenge you overcame? How did that make you feel? Understanding your accomplishments, your value set and your strengths will give you the edge when meeting prospective employers.

Investing in this self analysis, even if it means extra time and effort, will help you eliminate those jobs that are not a good fit. There is a direct correlation between job satisfaction and the quality of one’s personal life and emotional health. Understanding yourself will help you “sell” yourself for the right job. Best of luck!

Career advice, career move, career opportunities, career plan, career switch, dream job, international careers, job satisfaction, job search, new job advice

So that’s it – you have made the decision to develop your career in a new country. All you need is to get that job.

First get your CV dusted off…easy. Then do your research and explore your options.

Where are you going to? Been there before?

The easiest option is if your employer has a presence there, explore opportunities internally. Put your hat in the ring and get your boss on side; he or she could be your best ally in navigating the internal maze. What if there is no vacancy? Why not create one for yourself? Do market research, identify a gap, do a business plan, sell it!

If you have to go solo, research the job market:
• Find out which sectors are recruiting and likely to see high levels of business activity in the near future
• Look into which businesses are recruiting and in what areas and levels to see if there could be an opening for you
• Determine where you might be able to fit in and add value
• Position yourself to stand out from the crowd.

The best way to do this if you are looking at moving internationally is to get a locally based reputable recruitment firm on side. They will be a great source of information regarding the jobs market, salaries, cultural norms and life there. They will also assess your chances of finding a role. It’s in their interest!

Meanwhile use your network, job boards and directly contact companies of interest. Locate the decision makers in your area and approach them for advice and potential opportunities.

Then think about how you can make yourself available, especially if you’re moving from one side of the world to another. You have more chances of securing a role quickly if you physically take yourself to the country you’re targeting. It will show determination and commitment and employers can only be impressed. Contact them prior to your arrival and request meetings. People will be happy to meet you since firstly, you made the effort, and secondly, it doesn’t cost them thus lessening their risk.

However if you cannot travel across the world, find ways of being available e.g. phone calls at convenient times if they are on a completely different time zone; using video calling or finding out if they or a colleague are travelling to where you are currently based for an initial meeting.

Potential employers will appreciate your efforts and hopefully you will find the right opportunity to develop your career in a new country.

Career advice, career change, career move, international careers, job search, jobs abroad