Thursday, October 13, 2011

eNewsletter: I'm an accountant, I hate my job

eFC.com
Hiring and pay trends in banking, finance and securities 13 October 2011
TOP STORIES
Candidate Blog: I'm an accountant, I hate my job, but seriously, I wouldn't know what else to do
I was born to be a lot of things, but being an accountant isn't one of them. In my heart of hearts I have always known this, but for some stupid subconscious reason, I have always ignored it. How many people faced with the same predicament of deciding on a profession upon graduating used “not really knowing what to do” as their guiding compass?
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I was nearly an MD at Credit Suisse, but I gave it all up to teach Pilates
I never grew up wanting to be a banker; instead my dream was to be a professional ballerina. Butt there were a lot of family expectations for me to go into banking and finance like the rest of my family. My grandfather, Leng Srisomwong, was the Governor of The Bank of Thailand and Finance Minister of the country, so there were hopes I would follow in his footsteps.
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RBC is hiring, but some private banks are firing
The refrain of Western firms wanting to beef up their wealth management units in Asia has been often repeated. The latest hiring announcement earlier this month comes from Royal Bank of Canada (RBC) and was made during an especially volatile time in the global financial system.
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There's no time machine to bring you back to 2010: Here's the (slightly ugly) truth about salary rises in Singapore
Candidates in Asia are probably wistfully wishing they could go back in time. Just a year or two ago, salary increases for those moving firms were a generous 20 or 25 per cent. Today, thanks to the global slowdown, pay rises across banking jobs in Hong Kong are about 10 or 15 cent, according to recruitment firm Astbury Marsden.
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Paying double: Salary wars in China could well go into overdrive in 2012, say mainland HR heads
The pay wars in China's financial sector, where many candidates get 30 to 50 per cent salary increases (sometimes even more), are not going away anytime soon. In fact, the prediction is that firms in China will have to fork out even more to attract and retain talent come 2012. That's according to the 10 senior in-house HR professionals from leading international banks and financial institutions who attended the inaugural eFinancialCareers roundtable in Shanghai.
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