Job decisions in finance swayed by basics

Bonuses remain key to retention, but the highly structured incentives may be behind a preference for jobs with clear promotion prospects and a better base.

When it comes to remuneration and career trajectory, Hong Kong’s financial sector workers are highly aspirational. Employees will jump ship after a few years if the numbers don’t add up and career progress stalls, according to a survey by recruitment firm Selby Jennings.

Bonuses, under intense scrutiny since the financial crisis, remain as relevant to as ever, especially senior bankers at large financial institutions, but restrictive structures have dented their appeal for some.

In a market report conducted early last month, Selby Jennings polled 10,000 employees in front-, middle- and back-office positions at Hong Kong financial institutions to determine what factors motivate their employment decisions.

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