Hong Kong brokers are offering a 20 percent premium to attract financial professionals amid a business expansion driven by market-friendly policies.
Professionals with five to eight years of experience are the most sought-after, according to the Hong Kong Economic Journal.
There is a shortage of mid-level financial professionals after the 2008 financial crisis forced cost cutting across the industry, Chris Tse, chairman of the Institute of Financial Planners of Hong Kong (IFPHK), is quoted as saying.
IFPHK chief executive Dennis Lau says the manpower shortage extends to banks, insurance companies and asset management companies,
Vacancies in accounting, finance and advertising have risen 29 percent in the first quarter from the previous year, according to headhunter Robert Walters Plc.
Tse says companies should introduce more family-friendly policies such as family medical insurance and study opportunities to attract and retain high-caliber staff.
Also, training should be given top priority to enable companies to seize market opportunities such as the upcoming Shenzhen-Hong Kong stock trading link.
Only about 4,700 out of more than 80,000 financial sales executives have a CFP (certified financial planner) qualification.
The Hong Kong government has set aside HK$100 million (US$12.9 million) for a training program for financial professionals.
Translation by Vey Wong
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