💡Job Market Trend - Jan, Feb 2024

A few updates that I would like to share in the banking and insurance industry.

💭 Salary review among banks and insurance firms range from 1-4% on average. Higher increments are more common in the insurance industry as they outperform banks in 2023 - 2024.

💭 Market is active but more in the junior to middle level. We see a bigger hiring demand in entry levels to managers levels as people relocated from Hong Kong to overseas. Director grades to C levels are relatively slow as the opportunity costs of switching is high for this group.

💭 Interview process has been quite slow. Clients like to compare candidates. However, there is a lack of good quality candidates in the market.

💭Organisation structure will become flatter. We have seen teams are getting leaner and candidates have to perform multi-functional roles. This trend will continue with the rise of technology and system automation.