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HK rewards bankers who stay amidst stringent restrictions

Finance workers who choose to stay in Hong Kong amidst stringent Covid restrictions are being presented with rewards such as promotions and big pay increases. Christine Houston, the managing director of executive search firm ESGI, which focuses on the finance industry, said that headhunters, executives, and employees across the finance and digital-asset industry are more in demand than they had been a year ago. Houston said that typically, finance workers in Hong Kong would get roughly a 15% “walking across the street money” pay increase to compensate for the risk of moving to a new employer, but now it's no less than 20-30%. Government data showed that the number of new visas issued to foreign financial-service workers fell to 2,569 last year, down almost 50% from 2018.

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