Looks like we're in similar boats here. Here's my cut and past from another post regarding looking for IB, Asset Management incl Hedge Fund or PE work in HK:
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Originally Posted by nation
Qualified ACA with 10 years financial services experience (Big 5 followed by various Fund Managers - Sydney, London, HK, SG and Tokyo) and am now here looking for work. My experience is mainly on the finance side, various functions and project based. My background covers a broad cross section at more senior levels with little specialisation in one particular area. Financial services hiring here is very active at the moment, unfortunately the majority of hiring on the finance side is at the more junior levels or are the bog stock control/reporting roles. That and the multinational banks are really looking to place square pegs in square holes so very little opportunity to cross sell your skills unless you go for the smaller boutique financial houses. Also regardless of their immediate needs and what you can offer down the track a lot of employers seem more than happy to wait months for the right candidate to hit the ground running. They're really looking for someone to do the "same @#%& different environemnt" so are not overly entrepeneurial in their hiring approach. But then again that mentality is no different in the other worldwide financial centres.
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Jimbo - now that's an incredibly surprising response from a Big 4. I presume you interviewed for audit. Given the increasing compliance costs, increased scrutiny on audit, SOX etc and given that the Big 4's are seen by the majority as a stepping stone to careers in industry (and hence the global shortage) they aren't exactly in the position to be dictating needs beyond qualifications. It seems all locations (HK, NY, London, Tokyo) are screaming out for auditors and it's not uncommon for them to be advertising externally covering visas and relocation costs. Hope your interview wasn't with HR
Rapid - I don't think there's a third problem that you're alluding to. Simple reality is it's all about fit having regard only to your practical experiences. I too am struggling with the job hunt and the short sighted approach adopted by employers. But like I said above this is a norm given the industry I am in. As for the language I have yet to have anyone raise my lack of Cantonese and Mandarin as an issue. Having said that I am only targeting foreign firms or those with a strong global presence.
Esquire - Based on what you've said the Big 4s would be ideal for your wife. They may comment on her lack of Mandarin (given their HK clients current or future China presence) but given their desperation of quality accountants (they are constantly having to replenish staff for those leaving for industry in the first 5 years or upon qualifying) I doubt this will be an issue for them. Iit's this short staffed desperation and lack of senior level staff that means the working environment here in HK will be similar to that in NY.