In 2025, the banking and financial services sector will continue to transform its internal processes, products and services to adapt to the changing economic and labour markets. While there are areas where we see offshoring and divestments which led to lower hiring activities, there are also pockets of bright spots driving hiring activities as the industry retains its robust position in Hong Kong.
Download the report to find out more about the key trends influencing the job market, in-demand technical and soft skills as well as the latest salary benchmarks to improve your talent attraction strategy.
front office hiring trends in banking and financial services
Corporate and transaction banks are showing signs of slowing, as employers now have more specific hiring criteria and are taking longer to approve new headcounts. At the same time, many senior professionals from investment banks are re-entering the job market due to global restructuring. Chinese investment banks continue to maintain a strong presence in Hong Kong and are focused on retaining their talent.
With fewer IPO deals and global restructuring, front-office hiring is likely to remain quiet in 2025, except for private banks and wealth management, which will see positive developments and active talent movement.
Additionally, tighter and more transparent regulations introduced in recent years have made Hong Kong more attractive to clients seeking assurance and safety. More relationship managers are moving from private banks to family offices and wealth management firms, reflecting a shift in financial activities. There is also an increasing demand for assistant relationship managers, who can expect better higher salary packages in 2025.
As hiring activity increases, employers are raising their expectations. Companies seek candidates with established client networks who can deliver results quickly. This pressure to deliver results quickly may discourage some candidates from exploring new job opportunities, even if they have the network, experience and technical skills to perform well.
Traders and portfolio managers are now expected to have programming and analytical skills to manage pricing, risk management, and trade management platforms effectively. Employers are particularly interested in candidates with expertise in data analytics and proficiency in data visualisation tools.
Employees can expect an organic salary increase of up to 5%, depending on their performance. However, professionals in front office roles are likely to seek salary increases of 15% to 20% when moving to new employers in 2024.
stability in middle and back office hiring
While many organisations are still in cost-management mode, further downsizing in middle and back office roles is unlikely. This stability is largely due to the completion of offshoring restructurings, which means companies are already operating with leaner teams.
This environment may encourage more professionals to seek new opportunities in 2025, as concerns about restructuring and instability associated with job changes diminish.
Hiring will be focused on ensuring operational efficiency, particularly in roles related to Credit Risk and Enterprise Risk, where the headcount is essential for managing loan volumes and ensuring compliance with new regulations.
Within compliance, cryptocurrency and digital assets firms are expected to invest in hiring senior compliance officers to navigate licensing applications and approvals. The ongoing compliance updates for digital assets will also increase talent demand for senior compliance professionals. Demand for talent for Anti-Money Laundering positions will remain high in 2025, especially for roles focused on Fraud and Sanctions.
The demand for Know-Your-Customer (KYC) professionals is anticipated to remain strong, especially in light of potential growth in the private banking and wealth management sectors. As financial institutions prepare to capitalise on these opportunities, skilled KYC professionals will be critical to ensure compliance with evolving regulations.
Employers are increasingly looking for talent equipped with specialised knowledge in Financial Reporting Review (FRR) and Securities and Futures Commission (SFC) reporting. Job seekers who are well-rounded and with practical experience are sought after to deliver on regulatory reporting and daily accounting operations.
download randstad hong kong’s 2025 job market and salary trends report
Our 2024 Job Market and Salary Trends report cuts through the complexity to deliver actionable insights and expert analyses from our business leaders in Hong Kong.
In our report, you can find the salary range to more than 100 banking and financial services jobs ranging across front, middle and back office roles in retail banking, private banking, commercial and corporate banking, investment banking and more. Download the report to find out whether your company is offering a competitive salary to meet talent salary expectations.
The report examines key talent expectations as well as current industry trends and salary benchmarks in the following industries:
- Accounting and finance
- Banking and financial services
- Business support
- Construction, property and engineering
- Human resources
- Insurance
- Legal
- Life sciences and healthcare
- Luxury and retail
- Supply chain and logistics
- Sales and marketing
- Technology
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