The Hiring Practices In Europe And The United States - Term Paper Example

The Hiring Practices In Europe And The United States The banking and financial sector in Hong Kong and Tokyo have become progressively more complex; the banks and financial institutions have developed derivatives and prearranged products legal teams to challenge their competitors. Tokyo and Hong Kong are strong hubs for capital market with many international financial institutions. These two cities have seen considerable banks and financial institutions move their branches and headquarters to supply the high demand for financial and banking services in the region. Tokyo and Hong Kong have a strong market for trade finance, and banks and financial institutions have been devising ways on how to feed this high demand. The results of capital requirements talks in Europe and United States have slowed down the hiring practices, not only in Hong Kong and Tokyo but also in the whole Asian region. Regardless of the healthy market in the region, the prevailing mood is that of moderation than that of development. Private Banks and financial institutions are lurching and tossing in this market. Several equity groups are doing well too. Tokyo and Hong Kong have a high population which has boosted the banking sector. In addition, the cities host more than 500 of the best companies in the world. The increased business activities have made the cities a hub for banking and financial services. There are numerous renowned financial institutions in the two cities which include; JP Morgan, Nomura, Barclays Bank, Bank of Tokyo-Mitsubishi UFJ limited, Okinawa Bank, Aozora, Aomori and Iyo bank. I started job hunting in Tokyo and Hong Kong after completing my Bachelor of Arts studies in Liberal International Studies in Tokyo. I had majored in International Business and thought it wise to look for a job while awaiting my graduation due in September 2012. As known, Japan is a digital country and nearly all its transactions and activities are done online. I did my job application online where I had to wait for confirmation. Each bank that I applied has an online human resource panel that screens and selects the best candidates for the job. In my first week in Hong Kong, I applied for a sales and marketing job with Bank of Tokyo-Mitsubishi UFJ limited. Bank of Tokyo-Mitsubishi UFJ limited is one of the best performing financial institution in the region. This bank offers credit, corporate and foreign exchange services to its clients. As according to policy, an individual has to wait for a response from the bank for not more than five working days. I received a feedback from the bank later after four working days that my application was declined. The response stipulated that the vacancy required a highly qualified person with a minimum master’s degree and with at least four years experience in the field. This did not weaken my spirits. On the next day, I applied for Aomori bank in Tokyo. The bank was in need of public relations officers who would assist the bank in introducing a new product into the market. Aomori is one of the developing banks in the city. Over the last two years, Aomori Bank has increased its market share by 10 percent and increased services and products it offers to the public. I received a similar response from the bank. They required highly trained personnel with at least five years experience in the field. In addition, the response suggested that I wait for job adverts for management trainees which I had higher chances of getting. My applications seemed to be fruitless. I could not give up for I knew I would find a company that would be interested in my services. I later applied for a corporate assistant officer job vacancy advertised by Okinawa Bank. Just like Aomori bank, Okinawa Bank is a developing bank that is well renowned for quality services and favourable terms. It has received numerous awards and recognition in Asia as one of the investment bank that considers its customers and clients. The assistant corporate officer’s role was to assist in outsourcing for clients to invest in the bank and take loans to further their business prospects. I later received a response that my resume had been screened and that after much consideration, I would be interviewed for the job. The job required a minimum of a bachelors’ degree and no work experience. I prepared myself for the interview, scheduled after two weeks, and tried to rehearse on commonly asked questions and the company information. Before the interview, I was well acquainted to the company history, progress and performance. Needless to say, the company had received several awards and universal recognition. On the interview day, I woke up early and prepared well for the great day ahead. I got to the bank in time and was the second to arrive. We were called by our names before being briefed on the order we would follow. We were six interviewees who had come for the interview. I was the third person and waited anxiously to meet the panel. My time came and I entered the interview room. I first introduced myself and presented my resume to the panel before offering a seat to me. I sat down, and one of the panel members posed a question me. He enquired whether I was conversant with the financial and banking industry in the region. From my studies, we had studied several financial and banking industries in the world and Japan was one of them. I was pleased to inform him that I was au fait with the industry and that I was well acquainted to banking. The other panel members posed numerous questions which I answered proficiently. After the interview, the panel promised to get back to us after several days. We all went home with hopes that we would clinch that position. Later after some days, I got my response. The report indicated that I was well qualified for the job but the company got a more qualified individual with some experience which was an added advantage. I still did not give up and applied for a job at the Barclays bank. Barclays bank is one of the best performing banks not only in Japan but also in the world. It has been awarded severally and received numerous recognitions across the globe. It offers credit and savings facilities to its clients. The increased business activities in the country had contributed to the augmentation of the banking sector which contributed to the company growth and expansion. In addition, the bank has many employees who perform different tasks and responsibilities. The bank’s employees include the cashiers and sales and marketing personnel. On application, I received a notification that the company did not have any vacancy at that time. Though the company was in the process of development and expansion, it felt that it had enough workforces to facilitate its growth. After my puny efforts to secure a job with one of the financial institutions, I still went ahead to apply for more job opportunities in the banks. I applied for a job with JP Morgan Bank Company. JP Morgan Bank Company is one of the renowned banks in the Asian region that offer high quality services to its clients and offers its credit services at favourable rates. I applied for a job vacancy and uploaded my resume too. I received a response that it would be confirmed to me after the company’s final decision. The application was not successful too. The company responded by implying that it had no vacant positions and that they would get back to me if any position emerged. Many one of many days had gone without any of my applications being successful. By this time, I thought of quitting. As I went through bank name I encountered Nomura Holdings Bank limited. It is a constituent member of Nomura Group, a holding company with indirect and direct subsidiaries and related firms in Japan and foreign countries. Nomura Holdings is one of the best performing companies in the Asian region. It has received numerous awards and received recognition not only in Asia but across the globe. I applied for a job vacancy and later it was confirmed to me that I had satisfied the screening requirements and that i would be informed on the interview date. The interview day was confirmed and prepared well for the interview. I made sure that I was well acquainted to the company information and any other relevant information that would assist mi in the interview. I got up early that day to be in time for the interview. At the entrance, the guard warmly welcomed me by bowing and opening the door. As noted, Japanese business culture is replicated by respectful and customer oriented customer service. I enquired about the interview room and he willingly directed me, which was at the far end of the building. Everyone seemed extremely busy in the offices. I walked to the interview room where there were other interviewees were waiting. In an orderly manner, we were called to be interviewed by the panel. After the interview, the company confirmed that I had been selected as a management trainee. I was happy work with to get an opportunity Nomura Holdings Bank limited. From my few days’ interaction with numerous bank company executives, I established that banking and financial industry in Tokyo and Hong Kong are lucrative and growing. The banks in Hong Kong and Tokyo follow similar banking system as the rest of the world. The cities have commercial banks, savings banks, trusts banks and credit banks. Some of the banks offer all or some of the services mentioned. In addition, the banks offer money exchange services to foreigners and visitors. Read More