Culture at Japanese Banks?
Looking to get some insight into the Japanese banks / funds operating in the US. How does the culture, hours and compensation compare to US banks?
Looking to get some insight into the Japanese banks / funds operating in the US. How does the culture, hours and compensation compare to US banks?
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Been back in Asia for the last 10 years so wanted to share some thoughts about corporate culture in here. I am an Asian based in Southeast Asia and previous was in US for 10 years.
Japanese - very strict hierarchy mainly because it is still run by major trading houses that dates back to WWII. Most financial service companies are still owned by those trading houses. Although they are moving aggressively into Southeast Asia, which is controlled by Singapore office, they are still focused on risk minimization rather than profit maximization. Good long term business partners to have but need to follow their templates.
Chinese (Hong Kong) - former British colony, local Hong Konger (Honkies) are being pressured to perform by their new mainland China's bosses. In order to show that they are different from mainland Chinese, your typical Honkie banker is most likely resort to speaking English and boost his western education background. Similar to their Japanese counterpart in risk minimization, but Hongkies are most likely to resort to extreme passive-aggressive tactics as within their family units, women actually take charge of all the major decision making power.
Chinese (Mainland) - every mainland banker starts with a lot of drinking. They focus a lot of principles and personal feelings and refuse to focus on steps or processes - unlike their Japanese and Honkie counterparts. Spend a lot of time on drinking sessions to set up framework agreement rather than binding contracts. Flexible, practical and pragmatic but you never know whether you get a good deal from them. The word on the street is that you can never beat the Communists.
Thai - extremely suspicious of others. Very lazy to get things done - most of them don't want to leave Bangkok to cover other markets. Very comfortable and happy with their lives. Lies a lot in the beginning, fun crowd with endless KTV sessions, but once they trust you as a friend - they like to stick to things and very consistent. Loyalty is highly prioritized and valued like the Japanese but much easier to deal with, and flexibility is between (more than) Japanese and (less than) Chinese Mainland.
Singaporean - it is like a loud New Yorker in the US with a bunch of people from the Midwest. Claimed to be the smartest in Asia but continued to be sandwiched between either siding with their former ally - US or the new rising power - China. A bit PMS like their Hong Kong counterpart but more liberal and open - if you can get over their Singlish accent. Your Singaporean banker is more like your ABC (American Born Chinese) bros, a true banana - yellow on the outside - a bit white inside - but tell that to his face and he will never admit it.
Malaysian - if you find your Singaporean bankers to be too stuck up but you are short of budget to hire bankers, look no further than crossing the boarder for a Malaysian banker. More morally flexible in dealing with emerging markets, still more competent than the Thai but will get shit done. Less PMS than Singaporean, but you will never know what your fellow Malaysian banker is pulling up his hidden sleeves. Look no further than Jho Low who was involved in 1MDB scandal involving even Goldman Sachs.
Korean - lots of swearing. Although very similar to Japanese and can mistaken the two for most Southeast Asians, they are very different. Koreans are known to be much more blunt and less refined. Perhaps it was due to Korean wars, and due to long history of corrupted governments and big business relationship during the earlier stage of economic development, my personal feeling with Korean is their extremely workaholic and brute violent. Screaming, throwing chairs and physical abuse at the work place is considered the norms.