Hong Kong's Latest Approach in Talent Development

Amidst the emigration wave, the government is putting more resources in talent development HK and its promotion. The following programme was jointly launched by the Hong Kong Monetary Authority and the banking industry in April this year, which aimed to nurture more talents to enter the banking industry and to expand the talent pool. 

The Banking Graduate Traninee Programme 

This programme will provide over 120 job opportunities in fintech, green and sustainable finance, and GBA business for recent university graduates.The graduate trainees recruited under the Programme will receive relevant professional training by banking institutions, which is aimed to help lay a solid foundation for the young talents’ long-term career development.

Eligibility: Hong Kong residents graduating with bachelor’s degree or above, from local or overseas universities in 2021 or 2022

Job opportunities: Employment generally starts from 1 September 2022, or according to arrangement by the hosting institutions

Training: Trainees will receive in-house training provided by the banks they work in; they can also pursue relevant professional qualifications, e.g. Enhanced Competency Framework for Banking Practitioners on Fintech, with sponsorship from their banks. These trainees may also participate in the B.E.S.T. Certificate Programme provided by the Hong Kong Institute of Bankers (HKIB) and specialised training seminars organised by the HKMA for free during the first year of employment, with relevant costs fully subsidised by the HKMA.

Salary: 50% of the trainees’ monthly salary will be covered by the HKMA, subject to a cap of $6,000 each month

If this first graduate trainee programme becomes a success, one can expect the same programme to be held in coming years. In recent years, many banking talent programmes are launched to retain talents that are leaving at a high speed. We do not know how effective the results are, at least not yet, but we may keep an eye on Hong Kong’s talent development trend.