[ash12006]

Hi

Thanks for reading my post.

What would be an average salary for a middle office role in international bank in hk? approx 6 years operations experience

Thanks

[hknt]

Between HK$500,000 to HK$900,000 per annum, depending on the bank and your experience.

[Mat]

European bank will be more on the lower end while US bank will be more on the higher end.

The range is wide but I think quite correct

[steviem71]

would agree with the range but would expect the US banks to be at the lower end as they don't tend to value their middle office people as much as the European banks do

[Mariposita]

When I recently got an offer for a middle office role (credit derivatives) at a US investment bank it was HK$400,000 per annum. This was for an entry-level position since I'm a relatively fresh grad (worked 1 1/2 yrs at a law firm).

[pin]

With six years experience isn't HK$900,000 a year a bit low?

I always thought the banking industry paid pretty well and the salary range that's been given seems to be quite low esp to my profession (law), which I always thought paid a lot less than the banking industry.

However would a banking job include housing allowance, etc. Also what's the situation re bonuses?

[Mat]

Originally Posted by pin

With six years experience isn't HK$900,000 a year a bit low?

I always thought the banking industry paid pretty well and the salary range that's been given seems to be quite low esp to my profession (law), which I always thought paid a lot less than the banking industry.

However would a banking job include housing allowance, etc. Also what's the situation re bonuses?

Legal Capital Market usually gets obscene salaries here in HK (same range as the one given below for a fresh grad or 1 year exp)
.
The range 500.000-900.000 is quite correct for Middle Office in IB with around 5 years exp.

Bonuses vary a lot and it can make a big difference.

[urbanoxide]

I think as far as banks are concerned, the biggest factor affecting pay in the 5 or so years of experience bracket is not foreign-vs-local bank, front/middle/back office, or your years of experience, but whether you're hired locally or from overseas.

These days you'll find fresh undergrads hired in the US/UK and brought here as IBD analysts or what not, making total comp packages surpassing those of junior managers at local commercial banks.

[freeier]

don't really agree with the last comment. havent' seen that many US/UK employed IB analysts these days, and many of them taken in using perked up local packages.

middle office are not paid like front line staff.
but even front line staff probably are also getting that kind of package with 5 years experience, but the difference are the bonuses.

[pin]

Wow, that's a real insight. Always thought IB employees (graduate in general regardless of if they are front, middle or back office) would always be on top of pecking order.

The way it works in the UK (and thought would have worked elsewhere) in terms of professional pecking order is:

- IB
- Management consultant
- Lawyer
- Accountant

My package coming over to HK, as junior lawyer (i.e. less than three years post qualification experience) is towards the top end of the range given above (I'm not trying to boast, its just I would expect someone in an IB with six years experience to be on much more).

Naturally the bonsus would be a major factor, but now even law firms are being much more generous with their bonuses.