Salary in Banking/Finance

Work Working in Taiwan
1

Hi everyone!
I was wondering if someone could tell me the salary ranges in banking/finance in Taipei. Any feedback from a recruter or actually someone who evolves in this field would be greatly appreciated.
Note that I have 10 years of international experience in a reputable bank in London and Switzerland (I am not Taiwanese :). I am a cross asset product specialist so in sales, looking to find a job in the sustainability finance/green economy.
I am looking to settle in Taipei for a few years so thought I put the question here.
Also: no issue visa wise, everything is sorted already…
Thank you all!!!

1 Like
2

Do you speak Chinese?

It is going to be a requirement for 99% of jobs here.

3

There’s not really an international banking/finance industry here in Taipei and the banking/finance jobs are very local - will require fluency in Mandarin.

2 Likes
4

Then don’t waste your professional life in Taiwan’s finance sector.

6 Likes
5

Two ideas:

  1. There is a yearly salary report published (printed) , I’ll try to find it and post the related info here

  2. At least in trading, AFAIK you need Taiwanese certifications in order to trade, foreign ones are probably not worth anything here

1 Like
6

Some local banks here force their employees, even if not customer facing, to wear uniforms.

Not even tangentially relevant, I just thought it was funny.

Anyway I am no recruiter, but I have a couple of local data points, I’d start by dividing your wage earned in London by 4 to get you in the ball park.

Oh and then get ready for some serious overtime.

2 Likes
7

As someone who worked for a local bank here for 5 years I would say don’t waste your time, unless you getting head hunted for a CEO/CFO position.

Your better off in Singapore or if you speak Chinese to a decent level in Shanghai.

2 Likes
8

As someone still in local finance after almost a decade, I highly recommend looking elsewhere for meaningful opportunities.

9

Wow you guys are very pessimistic :grin:
There surely must be some opportunities in green or sustainable finance.
I will talk to a recruiter to have a better idea.
Any idea salarywise? Thank you @olm !

10

40,000 to 50,000 ntd a month.

If you are fluent in mandarin you will double that. But either way you will be working 40-50 hours a week with expected weekly socialising.

2 Likes
11

How does the “expected socializing” take place?

12

40-50k seems to be a stretch even without Mandarin fluency :anguished:
I have a call with some recruitment agencies, hope they will be more positive :grinning:

13

Unlikely.

14

Sitting in a restaurant with your colleagues as they talk and talk and talk and eat eta eat

Then you will be expected to join them on outings randomly to see famous part of Taiwan.

2 Likes
15

That’s surprising. It would probably depend on what kind of finance the OP is doing.

@Yas What type of finance and department did you work for in a bank?

Starting salary in financial services in London is about ÂŁ35-50k as an analyst not including bonuses. Why leave there?

16

Taiwan should really look at making major changes to their financial regulations. It’s archaic and very restrictive. I suspect it’s a major reason why it hasn’t developed much as an international hub for finance.

I still see people literally walk to a bank over the counter to trade stocks. It’s pretty Stone Age stuff in Taiwan.

3 Likes
17

Green or sustainable finance?? ha ha. Taiwan been saying it wants to be financial hub of Asia since the 1990s. Has it happened?
The only sustainable finance you’ll see is as being in IR for a locally listed firm.
Nearly all the IRs are focusing on setting up CSR and ESG for their firm and “showing” foreign investors how much they’re changing to international standards. Blah blah blah. All a dog and pony show.
And yes, if you are ON the trading desk/floor of any local/foreign securities firm, you need a Taiwan license. The test has been in english for nearly 2 decades.

1 Like
18

Hey Andrew!
Thanks for your reply! I am a product specialist so I can convert into many things like product sales or relationship management. But Id like to go towards sustainable finance or research.
Why leaving? Need to get out of my confort zone! And I have a working visa for taiwan. And figured Id can easily go to HK if I find a job there as opposed to staying in Europe and looking for a job in Asia remotely.

3 Likes
19

I see. So buy side working with AM firms is probably what you did from I understand.

I’m not too familiar with Taiwan, I’m the opposite and going to the UK going into PWM.

You might struggle with ESG products in Taiwan. I don’t think investors really care about those things in Taiwan.

2 Likes
20

Seconding this. I’ve found that even so called ‘international’ banks are anything but. I posted on this a few times that they would rather hire locals and pay them poorly than pay the rate for people that could help them project a more international image. They seem content to do so so I can’t imagine any change recently. There is talk every few years of becoming a financial sector powerhouse in Asia but nothing is ever done to try to become one.