Robert here, writing from Tokyo, late Monday night, hoping you are laughing at my attempt at humor above.
So what is the latest on the general lateral market in Asia and the Middle East? Things have not changed much in the past six weeks, with many firms most definitely still interviewing on a fairly regular basis (although several big name firms are in temporary hiring freeze mode in Asia), albeit very selectively, and moving much slower than months ago in making offers. For example, this week I have an ’04 from the West Coast interviewing in Tokyo; an ’07 from NYC interviewing in Dubai; an ’01 from NYC interviewing in HK; an ’06 from NYC interviewing in Singapore; an ’06 from NYC interviewing in Moscow (well, it is Eurasia); an ’06 from HK interviewing in HK; and an’05 from NYC interviewing in HK. Only several months ago, most of these very impressive candidates would have offers in hand on the spot or within a few days of their interview, especially after already being pre-screened by me. Now, offer decisions are typically dragging out two weeks and sometimes much longer. Firms are also having multiple rounds of interviews, with the process continuing when the US based candidate returns home, by VC and / or phone calls (this was rare in the hotter market of earlier this year). Also, on a somewhat related note, we are noticing with our offers that some firms in mainland China and Singapore are wavering a bit on expat / cola / housing packages (offering less than they did earlier this year), but this is not at all happening in HK and Tokyo, where the packages are either the same or going higher (at many firms).
Tags: Hong Kong