To pc dir
A bit off topic. From your experience, does background or where you come from play a part in salary packages, i.e. when you offer someone is there a pay differential between someone from, say, London moving here versus someone from Mumbai or Manila coming here for exactly the same job or position. The assumption is both candidates from both regions are qualified to do the job.
Thanks.
I guess you are not Western for asking this and suspicious you are being short changed?
If not sorry for the presumption.
Ok, to answer. Short answer is there is no difference, you are paid according to the role.
Long answer is a bit different. If we want someone to come here from London they expect a housing deal, someone from Manila or India may be happy to come without one, they get what is required to convince them to move. That said if they both dug in and no-one would move without one (unlikely) race would not be a decider. Regardless the pay element would be the same. Also, all things being equal, if a guy in Manila or Mumbai (or Singapore for that matter) will work for us on a local deal then they will be preferred over a Westerner on the same pay who won't move without one (we just did this as it happens), again on your assumption they possess the same skills.
Asians also do get housing deals. In PC they tend to be people who we are moving from NY or London who have significant experience, same reason, they won't move here without one. Just did this as well as it happens.
Ultimately most of the people on housing deals are Caucasians as they make up the bulk of people in the biggest two financial centres and we need the experience. This isn't a package bias it is purely paying what it needs to hire the experience from where it resides. It is not because they are Caucasian, it is because they are in London or New York, won't move without one and have they experience we can't get without paying for it.
In summary, there is zero pay discrimination. If you looks at who has housing deals it is the senior Westerners as we can't hire the experience locally and where the experience is happens to be Western dominated. I fully expect in 5-10 years there will be almost zero housing deals at all (in PC anyway) as the local talent pool (or those willing to live as locals) will have developed to the extent we don't need to pay them, they are already much thinner on the ground. Westerners will still be equally welcome but paying their own way. It is all down to economics, supply and demand, more so in a bank than anywhere else.
