Thursday, August 30, 2012

Newsletter: You really are a wage slave

eFC.com
Hiring and pay trends in banking, finance and securities 30 August 2012
TOP STORIES
The Runaway MBA: A financial career does not allow you any freedom; you are truly a wage slave
While in business school I forgot to enjoy the immense freedom that does not exist when you are working. A financial career does not allow for freedom without typecasting you as lazy or “not smart”, which I now recognise as being completely ridiculous.
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A DBS VP tells us what it's really like shifting from Singapore to Shanghai
Communication is one of the challenges. Although I am a Chinese Singaporean and speak the language fairly well, I could say one thing and it might mean something else to the Chinese nationals. In addition, things cannot be taken at face value. You need to read deeper to get a better understanding. It is not easy to win the trust of the Chinese, but once earned, it means stronger relationships and the opening of doors.
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Nomura will cut jobs in Asia: Hong Kong, not Singapore, will likely bear the brunt
Impending job losses at Nomura will hit its overseas operations, particularly equities and investment banking, with Asia taking its share of the cuts.
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Even CFOs and COOs are accepting short-term roles in Asia
We've written about contractors in banks before, and as this niche market continues to mature, so has the need for veteran talent. Meet the new breed of C-level contractors.
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Private banking in China is slowing down, but there is hiring beyond the big four
Private banking recruitment, the erstwhile buoyant sector in Asia, is seeing signs of a slowdown. It's even affected China, where economic growth has slowed down to about 8 per cent.
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