Shanghai

not quite sure, but I'm under the impression that jobs in HK have global pay, but not for mainland cities like BJ, SH..
somebody can confirm, pls?

Mainland gets paid way less than HK.. I think it's because the cost of living is lower =(

Can someone who only speaks english get by in Shanghai? How many non natives speak Shanghainese?

There are still capital restrictions/controls within mainland China. Hong Kong isn't so restrictive.

I was there this past summer and I can tell from experience that it's impossible to survive without knowing Mandarin or Shanghainese. Usually Mandarin is sufficient. I have a HK background (cantonese) and still couldn't communicate. Most foreigners working there are at least somewhat competent in Mandarin if not absolutely fluent.

How different is Shanghainese from Mandarin?

very very

Mandarin is sufficient for SH and HK. Without Mandarin, forget SH. HK is possible but there isn't any point if you want to build a career and didn't know Mandarin.

Anyway, no point going to SH now. Pay is low. Not sure about bonuses but the IPOs are all happening HK.

Pay is definitely lower. Do not expect Wall Street bases+bonuses, unless maybe your firm agreed to pay you in American salary. If you get paid by American standards ANYWHERE in mainland China (excluding HK) you will live like a king.

Actually there is a pretty good reason why you would want to go to HK even if you jsut speak English. Taxes

I know enough people who have done it. also, it is WELL worth HK vs ~HK in the region, comp wise...

In china some banks such as GS offer global pay in the first year, but some didn't until the second year or third, UBS is an example.

Really? you mean in mainland china?

sorry, its not UBS, it's CREDIT SUISSE~~

Heard HK's living environment is much better than Shanghai, Shanghai can be chaotic.