HK vs Canada

Hi thanks for replying! Based purely on career progression, do you think it will be better to start my career in Canada or HK?

I didn’t work in S&T in HK (was in IB), so I can’t comment there specifically. But I would suggest trying to talk to S&T people in both markets (alum connects, maybe even look for Canadians, or even Americans. working in HK on LinkedIn).

I’ll speak a bit to my time in IB in HK. I worked for a U.S./global bank, but culture is really just dictated by whoever heads up the group and trickles down. Being in a global firm is probably still better pay and culture wise, but ultimately it can be different Toronto (which is relatively more chill vs the other cities). YMMV, but I found HK to be more harsh/‘severe’ vs NY (not necessarily hours, but more like verbal abuse, less “mentoring” or looking out for the next gen that show potential…). 
 

Ultimately, higher up you go, it’s more about relationships. So for me, someone that didn’t grow up in Asia, but is Asian, it would be difficult to build rapport with the other side of the table (which could be some rich execs of conglomerates, and maybe rich Asian families). The some MDs grew up in Asia and connected circles. In this regard, it might have been better if I was white while working in HK (you get the benefit of doubt / shielded from some things like expectations on language or whatever, even if you didn’t grow up there).

Finally, I felt like if I had stayed in HK longer, the harder it would have been to go back to US/canada. Cause your career or profile gets more “regionalized”. I also feel going HK —> US/Can is harder than US/Can —> HK. It was difficult interviewing for North American roles while being in HK.

Now, maybe a lot of things I mentioned won’t apply to you. Growing up in Asia, you’d have less culture shock perhaps. And maybe the relationship aspect is different in S&T depending on your desk.
 

I would also highlight NSL and its impacts on HK (people leaving, press/rights/freedom limitations, changing landscape, potential further impact on the city as a financial hub). But you may or may not care about that.

earthwalker7 IIRC worked in HK and China a long time. I think he’s PE, not S&T. But maybe he can comment.

Good points on everything except NSL. I think NSL is way overblown. As long as you are not parading around inciting revolution (i.e. telling people to set things on fire) or openly disparaging/mocking the Chinese leadership (i.e. wearing a very offensive T-shirt) you should be fine.

Eric Z

Fellow Canadian here. Grew up in China. Went to school in Canada, worked for a few years, went to business school in Europe and landed a PE job in London. Moved to an Asian based PE firm (got enticed away) and had work trips in HK.

HK has long hours and limited exits. Asia PE cuts base salaries because market is down and banking were shrinking so PE can just ride the market trend. This is unheard of at EU/NA PE firms. Btw I don't even work in Asia. I am based in London, still got a significant cut because it's firm wide. Between 2005 to 2018, Asia can grow out of any problems and there are huge opportunities, now the trend is going the other way.    

I would avoid working in Asia, but that's also down to my non preference of overly spiced /oily Asian food, Karaoke/Heavy Drinking. I enjoy the gym after work,  nature, French German Italian languages so may be I am just a mutant :)   

NOBODY can predict you would do better in one market vs the other. Your career and life has a lot of luck factor. Pick a place you see youself living. Always look forward instead backwards when things are bumpy.   

The OP is asking about S&T. The profit drivers for S&T are very different compared to IBD (and PE).