|
|
           |
|
|
|
AsiaYou are here: Destinations > International > Asia
The Asian market is the shining light of all international markets, with firms predicting growth in the corporate, capital markets and finance sectors in the second quarter of 2010. However, as in the Middle East, international firms in Asia have absorbed many lawyers from other jurisdictions. When recruiting Australian and New Zealand lawyers, the firms have returned to a restricive application of recruiting criteria. Lawyers are expected to have high academic results, quality transactional practice experience and the ability to speak the local language. We predict this recruitment market will have solid levels of activity in 2010.
About ChinaThe Asian market generally has recovered significantly following the global slump. China in particular has recovered strongly, so much so that there are fears that the Chinese market is overheating. Keen to avoid their own real estate price bubble, the Chinese are taking steps to slow growth.
Whilst a very positive sign, economic growth in China does not translate to an abundance of roles for foreign lawyers in mainland China. This is because the international firms in China still have relatively small offices (compared with their UK/US offices). Furthermore, there is a strong preference for lawyers who have strong written and spoken Chinese language skills. Salaries are strong in Shanghai in areas of demand such as M&A and property but are less strong in other areas. International lawyers in China tend to be more experienced (most opportunities are for lawyers with 5 years’ experience or greater) which is another reason overall salaries in Shanghai and to a lesser extent Beijing, tend to be higher than in Hong Kong.
Mahlab has strong relationships with most international and Australian Firms in China, both in Shanghai and Beijing. A Mahlab consultant can answer further questions or give you an outline of the necessary steps to secure your ideal position in China.
Click here to have your Frequently Asked Questions about working in China answered.
About Hong KongIn Hong Kong, an improved finance sector is yet to translate to significant banking and finance deal flow, although there is definite improvement which is expected to continue. Corporate deal flow on the other hand has picked up in 2010 creating a demand for mid level corporate lawyers with M&A, IPO or private equity experience, particularly those with Chinese language skills. Firms prefer litigators to be admitted in Hong Kong but there are certainly opportunities for top tier litigators in Hong Kong. Other areas of demand include funds, regulatory litigation and employment law.
Click here to have your Frequently Asked Questions about working in Hong Kong answered.
|