Transfer from London to HK
Hi,
I am first year analyst working in FO in London Top BB, really enjoying my job and what I am doing. But I have my girlfriend working in HK, and really want to stay with her.
I don't really want to give up my career, but don't want to do long distance anymore neither.
My group has a small team in HK, and I think asking for country transfer would be the best solution. But I'd like to have some advice.
What's the best timing for asking? Who I need to speak with first?
In case the transfer is not possible, does it mean that I need to quit or I can keep doing what I am doing in London?
Hi,
One thing to keep in mind is that, especially at the more junior levels, your mobility across teams will be a lot higher. Unless you can speak fluent Mandarin, I'd keep an open mind to moving to a product team rather than coverage (especially at BBs, Mandarin is more expected).
Now on your questions:
1) The best time is after you have established a strong internal reputation. Do what you have to do for your relationship, but my advice is to wait until a year or two after having started, and work like hell to be top bucket. Potential recipient teams will strongly prefer an internal candidate with a great reputation versus hiring externally (they will read your internal reviews and speak to your managers (who they probably trust) for references, it's lower cost and lower risk). It sounds like you have other priorities, but if you move halfway through a year expect to lose most of your bonus - your old team won't pay it and your new team aren't going to bat for you in the performance committees.
2) I advise speaking with your current team head. They will (obviously) find out at some point, and they are the most important decision-maker. As mentioned, the new team will want their reference, and even if they don't, your team head can likely block this. If they find out you spoke to HR or another team overseas, there's a chance they take it badly.
3) I think it's unlikely that you are stopped from doing what you are doing. Your managers / team head are human, and given your reason (relationship, not just travel or disliking team members, etc.), I'd hope they'll understand and it'll be a question of when and not if. You might be seen as a flight risk though which *might* have a negative impact (first in line to be let go if there's a round, lower bonus, etc.), so I don't want to dismiss this entirely.
Good luck - last piece of advice here is that life is too short to not try to be with your other half.
Thanks a lot for your comment: that’s super useful. I do speak fluent mandarin since it’s my native language, so that should be fine. I was thinking of asking it formally after one year and half-ish? Definitely not now, but maybe mentioning about it now with people more close in the team? Think most of them know already about my situation, but I’ve been saying that I much prefer London instead of HK as city (which is true).
The Mandarin language ability will help a lot and will compensate I think (if you need it) for not necessarily being top bucket, so that's super helpful.
One year and a half seems fine, although you will probably kill your second year bonus if that's a concern. Be aware that if the conversation goes well, it might be a few months before headcount opens up in a potential recipient team, visa (if you need it) goes through, etc.
On the team point, you can read your team better than I can of course (plus the added disclaimer that I'm literally a random person on the Internet so make your own decisions, etc.), but I don't think mentioning it to anyone but the team head is a good idea. This is a serious decision and, like resigning, the respectful and formal thing to do is to raise it with them first. If by "people more closer in the team" you meant other analysts / associates you trust, fine. But if you're mentioning it to the friendly VPs / SVPs / EDs / MDs, don't. If one of my analysts told me he / she wanted to move team, I wouldn't know what to do with that information, and I wouldn't want that problem. On one part I'd be sympathetic and want to help, but on the other I (A) can't really do anything except tell HR, which I wouldn't do without consulting the team head; and (B) would feel an obligation to the team head as we might have a flight risk. You might get lucky if someone in your team knows of a Hong Kong vacancy in another bank, but I think the downsides outweigh the benefit.
For the record and off-topic both London and HK are great cities, but for starting a family HK can be nosebleed expensive (that said tax is so much better).
Based on the most helpful WSO content, here are some insights and advice for your situation:
Timing and Approach for Asking for a Transfer:
Best Timing:
Who to Speak With First:
In Case the Transfer is Not Possible:
Additional Tips:
By following these steps and maintaining professionalism, you can navigate the process of requesting a transfer effectively. Good luck!
Sources: Want to get me on the phone? Here's how - a networking overview., https://www.wallstreetoasis.com/forum/trading/qa-1st-year-bb-london-rates-trader-taking-your-questions?customgpt=1, Want to get me on the phone? Here's how - a networking overview., 10 Friendly Reminders While Networking for SA Programs (from a BB Analyst Perspective), What I Wish Every First Year Analyst Knew
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