The Asia Chronicles: September China Placements /Asia Expat Packages
[Ed. note: This post is authored by Evan Jowers and Robert Kinney of Kinney Recruiting, sponsor of the Asia Chronicles. Kinney has made more placements of U.S. associates and partners in Asia than any other firm in the past two years. You can reach them by email: asia at kinneyrecruiting dot com.]
Evan here, writing from Miami, working from home base on the beach for a two week stay sandwiched between hectic Europe (London and Warsaw, of all places) and Asia (Hong Kong, Singapore and Beijing) trips. I will return to our Hong Kong offices for a few weeks starting this weekend and will also be in NYC for a couple of days this week.
Robert will be in HK next week as well. It is the third extensive China trip since June for both Robert (who also had a recent Europe trip) and me. Of course, Alexis, our resident HK recruiter, will be in town as usual. We have a packed schedule of mostly prospective partner candidate and law firm meetings on tap. We are also in town to help close a few placements and help with current interviews. It is probably going to be too busy to take the usual fun side trip (Bali or Thailand) this time around.
It has been a nice couple of weeks for our Asia team, with 5 of the US associate candidates for whom I was responsible being placed in HK / China (3 at firms, 2 in-house). I expect another associate candidate to be placed this week. Further, several of us are very close on partner placements in HK (in addition to successes in our other markets, which has also accelerated of late). Daniel Roark, our newest recruiter to become involved in our Asia business appears likely to close a very nice partner placement in China alongside Alexis Lamb. Our St. Petersburg, Russia and Miami based recruiter, Yuliya Vinokurova, is close on a couple of associate placements in Tokyo (the Russia biglaw lateral market remains extremely slow, but we remain very committed to that market and Yuliya will be in Russia for most of the next year). Our team-based approach continues to pay dividends and I’m happy to be leading such a good group.
To be sure, the biglaw lateral market in Asia is showing stuttering signs of improvement, but things are still much slower than the sizzling levels of mid ‘06 to mid ‘08. We are seeing a lot more interview activity recently (although the competition for such interviews is fierce, as selectivity remains extremely high), but not many of the top firms are urgently hiring (more are interviewing but moving slow with offer decisions). Some of the most attractive target firms remain on hiring freeze, but if current deal flow is sustained through end year, we expect such freezes to thaw.
***More after the jump.
The majority of the associate candidates we have placed since June have had 7+ month job searches. All of our placed associates this year have been extremely impressive. For new, similarly qualified associate candidates, we now expect much quicker job searches, but landing in Asia requires a long-term job search for many very solid US associate candidates who would have had multiple quick offers as recently as mid ‘08. We expect the Asia lateral market to continue to show steady improvement for the foreseeable future, but not get back to boom levels until the US biglaw markets fully rebound (and that could be months or years away).
It would be logical to assume generous expat packages have gone the way of expected end-year bonuses in ‘09. However, the US and UK firms in Asia that were paying competitive expat packages in ‘07 and ‘08 continue to do so in ‘09 and with plans to do so for the foreseeable future.
For years we have been helping our law firm clients draft expat policies, as well as survey the market for them. US firms in the Asia markets are mostly tight-lipped about their expat packages (different from some other expat markets, like Moscow for example, where there is more cooperation amongst firms) and it is impossible to know the details and numbers in most firms’ packages without being directly involved with those firms giving offers. Among the top US and UK firms in Asia, it has become well known in recent years that we at Kinney are the go-to source for such information in the market.
It is usually in markets that are in flux re expat packages that we get the most requests (for example, Singapore, mainland China and Dubai in ‘08) for only the basic numbers. In Hong Kong and Japan, where the competitive expat packages basic numbers have been established longer, the established top firms have come to us in recent years mainly for advice on extra benefits, such as private school tuition for associates’ children (still very much in flux and varied among firms in all Asia markets), while the new firms in the market look for the basic numbers.
However, in Hong Kong and Tokyo this year a number of established firms with always competitive expat packages have asked us to assess the market for them and advise on whether they should lower their expat base number, due to the downturn. In Hong Kong, a number of our candidates have had offers this year, notwithstanding the down market, and some of our firm clients have taking a serious look at their expat package number (not just for the offeree, but for the US practice in general) before giving an offer. In each case, the firm decided to either keep the same number or only slightly lower (while remaining in the competitive market range).
In Hong Kong, you can expect US$50,000 to US$80,000 expat package (for an associate without children) at the competitive firms (with vast majority of firms in range being below 70k). This is the same range as ‘07 and ‘08, but some of the few firms in the 70s have dropped to 60s. Only one firm has 80k package, where in ‘08 there were three.
Keep in mind that in ‘07 and ‘08, while the range of competitive expat packages was rising in HK, a number of major US and UK firms had no expat packages, paid expat on case by case basis, and / or were just starting to pay competitive packages in ‘08 (out of necessity in order to compete for candidates). Some, but not all, such firms dropped their efforts to have competitive expat packages as soon as the Asia markets slowed in fall ‘08.
In Tokyo, there has not been nearly as much hiring as in HK this year, but a number of firms have asked us to access that market as well. As in HK, we are finding most firms with competitive expat packages are not lowering. Tokyo, though has always had a much larger range of competitive expat packages than HK, from ‘07 to now being about US$80,000 to US$135,000. As recently as September ‘08, we know of a few firms that substantially raised their expat packages in Tokyo.
In mainland China, the range continues to be US$40,000 to US$65,000. Although taxes are higher in BJ and SHG than HK (even US residents / citizens in HK get to take advantage of the IRS not taxing first 86k of income and up to 114k of housing costs), the cost of living is lower than HK and expat packages are traditionally lower. Some firms pay same package in mainland and HK and others pay about 20% less in mainland.
In Singapore, there have traditionally not been any expat packages. This is because back in the day that most overseas posts were considered hardships for employees of companies and firms (thus the creation of expat packages), Singapore was considered to be too nice of a climate to fall under a category of hardship. In the recent boom market it became very difficult for firms to recruit for their Singapore offices when candidates also had offers from Hong Kong, due to the expat package issue. We were assisting a number of firms drafting new expat policies for Singapore in mid to late ‘08, but when the market crashed most firms in Singapore indefinitely postponed such efforts. As it stands now, in Singapore you can expect expat packages of around US$20,000 to US$40,000, and at most firms it is done on case-by-case basis. A higher percentage of firms in Singapore offer no expat packages than is the case in Hong Kong / China and Japan.
In the UAE, most firms do not have an expat package. Those that do are mostly on a case-by-case basis and not more than US$30,000. As with Singapore, while the market was still red hot in ‘08, US (not so much UK) firms in Dubai asked us to asses the market and help them formulate competitive expat packages. These efforts in Dubai were also put on hold in earlier this year when the Dubai market crashed. In the UAE, keep in mind that non US persons pay zero income tax (even in tax havens like HK and Singapore, there is around 15% income tax) and thus firms can recruit Brits, Canadians, Aussies, Chinese, for example, who are of course thrilled with no income tax and not too concerned with expat packages. Also, in the UAE, similar to Moscow, the majority of complex transactional work is done under UK system, thus another reason that some (but not all) US firms and most UK firms prefer UK associates over US associates (causing less leverage for expat packages).
Please note that in Asia and other overseas markets, the vast majority of US firms that pay expat packages do so for all of their US associates, regardless of whether US citizen or resident (and tax windfalls for non US persons in tax havens such as HK and Singapore).
While we know this information is important to many associates (and that’s why we make it a point to know more about it than anyone else), we firmly believe that the expat package should not be considered as important as the career opportunity and platform obtained. As a general rule, we recommend not putting much weight on expat package number when comparing two offers that are less than US$20,000 apart. I look forward to the chance to talk to candidates considering Asia about these details as well as other factors that might ultimately deserve more weight.
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Evan,
What does an expat package typically include? How do they add up to US$50,000 to US$80,000 in HK or China? Thanks.
Thanks
1, the packages are usually a lump sum cash figure that is added to each of your paychecks (pro-rata) of course) during the year. There are also other benefits that you would expect on top of the cash figure, such as health insurance, etc. A small minority of firms breaks the number down into different categories and reimburses for actual expenditures in such categories (such as housing), but the vast majority of expat packages nowadays is cash lump sum and it does not matter what you spend it on (for example, if a relative charged you no rent for an apartment in HK, you would still get the same package as colleagues who were paying for housing).
Keep in mind that the expat package numbers can go up substantially for associates with children, especially school age children (some firms reimburse for private school tuition, although most firms that pay expat packages do not yet have policy on school tuition because it is not something typically dealt with due to most associates not having children at that age).
Is it easier to land in HK than mainland China? Or are there just as many positions in mainland as HK?
Do the expat packages apply even if the lawyer is a Chinese citizen if he/she is US qualified? Does this change if the lawyer is switching firms from another firm in Hong Kong?
5, The answer is yes, at most firms. All of the firms that pay competitive expat packages in HK / China pay them to both US and non US persons (as I mentioned in the post I think). A small minority of those firms pay smaller expat packages to non US persons (about 20% less).
The key to whether you receive an expat package (at a firm that pays expat packages) is whether you are truly a US associate coming from a major firm and not simply US qualified. There are plenty of US qualified associates in the HK / China market who are not considered US associates at their respective firms (are paid on local PRC or HK rate at such firms). A JD helps, but I have placed a number of LLMs as US associates in HK / China. If you are currently a US associate at a top US or UK firm and seek to lateral to or within the HK / China market, then you will be considered a US associate hire and receive the US comp package, which includes NYC rates and at the competitive firms, an expat package.
4, HK has more US attorneys, but the mainland market is growing in that regard. It is still a bit easier to land in HK though, just based on the number of positions available at a given time in both HK and mainland.
evan, have you put on a few pounds? i usually think that you're real hot in the pics you post but, on this one, not so much.
thanks,
michael p.
Do you know of any US patent lawyer gigs in HK? I get the feeling that most of the HK positions for US expats are in corporate.
8 - right on
He was never hot, but you're right, this close up is rough
Steve
I am a non-native Korean speaker. Would this be at all helpful in obtaining an Asian posting? I imagine there would be plenty of native Korean speakers competing for these positions....
I've been at 2 biglaw firms at am currently in-house but am considering a move to HK/Singapore/Seoul.
9, that is true. There are some IP groups in China and some firms looking to eventually add or expand IP groups, but it is not a hot hiring area by any means. It is getting easier each year to land an IP spot, but still very difficult. In '07 and earlier, most IP lawyers looking to move to China had to switch to corporate (which was in itself more possible, due to firms being so understaffed then in HK / China, in global boom market, in corporate). Over the next 5 years, I expect it to continue to get marginally easier each year to land in IP in China. Will be a while though before most US firms there have IP practices. Outside of M&A, cap markets, finance, some US firms are looking to diversify into other areas, but IP is not at top of drawing board plan for new practice area at most firms. Some of even the better global IP practice US firms in China have turned down opportunities in the past year or two to bring on board major IP players in the China market, due to their still hesitation to build IP practice in China at this time.
thanks
Evan,
Are the ex-pat packages re-evaluated every year?
evan -- thanks for changing the pic. you look a lot cuter with your glasses.
xoxo,
michael p.
Hi Evan,
Michael P. and Steve here. We were wondering if you're into the ménage à trois.
I can picture Evan driving around South Beach in his ferrari with his gorgeous wife, hitting the clubs and beaches, and laughing all the way to the bank that so many attorneys rely on someone in Miami to help them with Asia markets. I applaud him for what he has done, truly remarkable. I don't particularly like Evan but have much respect. I have met him and his wfie before in Shanghai when I considered using his services for my own recruiting needs, but found his ego and lecturing a bit too much to take. I don't think he would have put much time into focusing on my needs because he prioritizes the most prestigous firms. He does know the market though and talks a mile a minute about anything and everything. It shows how awful recruiters in Asia are that they can't beat out a guy who lives around the world.
Look at his pic, no way his wife is that hot.
Just for fun, I googled Evan and his facebook page came up. If that is his wife, she is pretty damn hot.
http://www.facebook.com/evan.jowers?_fb_noscript=1
Evan,
Is there any activity in Vietnam, whether firms based in Vietnam hiring or other offices (HK for example) looking for attorneys with Vietnamese language skills for Vietnam-related projects?
Evan,
Is there any activity in Vietnam, whether firms based in Vietnam hiring or other offices (HK for example) looking for attorneys with Vietnamese language skills for Vietnam-related projects?
21, I am not aware of any biglaw opening in Asia where Vietnamese language skills are important. Of course, there are the handful of international firms in Vietnam where such language skills would obviously be important but I don't work that market.
With that said, if you are native level fluent in English and have stellar law firm, practice, law school background, then your Vietnamese fluency could be a nice bonus for a US or UK firm in, let's say HK or Singapore, that does have Vietnam related work. It could then be a tie breaker between you and another equally qualified candidate, especially if you have strong connections in Vietnam and have worked there in a sophisticated professional capacity in past. It would just be a small bonus though...
14, technically they are at most firms (not for each individual but for the firm or US practice in general) and such language is sometimes in offer letter. In reality though, it is unlikely a HK firm that pays competitve expat package (in 50k to 80k range with most being in low 60s) will lower unless the entire market does (not happening any time soon). A few firms this year dropped from the top end 80k down to mid 60s. Also, a handful of firms that were not paying across the board competitive expat packages to their US associates, but instead were paying on case by case, have pretty much dropped them all together or at least lowered them substantially (similar to what they were doing before '08 anyways).
"Evan here, writing from Miami, working from home base on the beach for a two week stay sandwiched between hectic Europe (London and Warsaw, of all places) and Asia (Hong Kong, Singapore and Beijing) trips. I will return to our Hong Kong offices for a few weeks starting this weekend and will also be in NYC for a couple of days this week"
So you're in Miami for a two weeks stay, yet leaving for New York later this week followed by Hong Kong on the weekend. Am I the only one who finds this confusing, or is it bs?
24, I live in Miami (although I spend about 30% of my time in Asia). In NYC now for some meetings. The time elapsed between my recent Europe trip and upcoming China trip starting this weekend is about two and a half weeks. Usually when I am in US, I make fairly frequent NYC trips, sometimes in and out in same day, sometimes one or two nights. If you must know, I arrived to NYC yesterday afternoon, am heading back to Miami this evening and flying out to Hong Kong Saturday. Plan to be in HK for about 3 weeks, with side trips to BJ and Singapore, but could extend or shorten trip depending on various factors.
The above is not unusual for my schedule unfortunately,. Lots of travel and time away from home... But I enjoy what I do and believe that I need to be both in US and Asia for work (and of course need to be in US for my family). When I return to Miami, from upcoming Asia trip, at some point around mid October, I will probably be home about three weeks (with a few side trips to NYC) before heading to Dubai for a 10 day trip in early November and then another few weeks Hong Kong / China trip in later November. Plan to be home in Miami for the majority of December.
any mid-level project finance openings in China?
Have you cut down on travel at all, compared to last few years, considering the economy?
thanks Evan
evan = douche
28, project finance has stayed relatively busy through the down turn, at least compared to other practice areas. But PF groups in Asia typically move slow in hiring even in hot lateral markets. We have a few PF mid level openings (as well as junior and senior PF openings) but those groups are moving selectively and slowly to hire. We have candidates interviewing for these positions.
27, I have cut down on trips to Dubai and Moscow, for obvious reasons. Last year I spent about 10 weeks in Dubai, but only one trip there this year (although heading back there in November). I have not been to Moscow this year and was there last year for a couple of weeks. But still making same amount of trips to Asia, especially HK / China. A slow economy and lateral hiring market is no reason to stop working. It will always be up and down in recruiting, so can't get too excited about the highs or too down about the lows. In HK / China we have had a solid year in '09 thus far, especially good for us in the past 3.5 months.
be interesting
Evan,
Michael P. and Steve, here. The three of us should venture to Vietnam for a romantic get-away. What do you think about a little ménage?
Thanks,
Thanks for the post Evan
33, Evan here. Sure!
It is interesting that firms continue to pay expat packages in this market. Is this sustainable?
thanks evan
17 AND 19 = Evan. Hasn't anyone noticed how he does this in absolutely EVERY thread. Think I'm wrong? ATL, check the IP log.
thanks Evan
38 - exactly right
Commenter here, writing from Tahiti, sorry for not being able to write earlier, but I was traveling a lot in all-inclusive resorts in the Carribbean, and also have been working in and around Monte Carlo and Paris, and also made a quick stop to Antartica for vacay. If I don’t respond to your posts quickly next week, it’s because I’m sandwiching in a trip to Impenetrable Forrest, Congo and St. Louis. I’m really surprised my wife puts up with this. I suppose it’s because, as a former model, she’s used to the hustle and bustle of life.
thanks Commenter
38, for entertainment, I suppose I will actually answer your comment (at the risk of getting comments afterward asking why I would bother :-)
if you had to pick an annonymous comment to suggest I wrote myself, thanks for picking the one with me cruising around in the ferrari, partying on south beach.
the problem with my ferrari is that it does not exist. I don't spend a lot of time in south beach (and when I do it is usually for a nice dinner rather than to party). The much less flashier car that I do drive is more often seen a bit north of south beach in sunny isles, aventura, bal harbour area (where I live and have an office). I wish I had so much time in Miami to relax and party as 17 suggests, but don't seem to be in Miami enough (for example, in HK now and for next few weeks) and work long hours (especially in this still slow market) when home. The criticism of me in 17 is bs. I have met many people in Shanghai of course, but the whole ferrari and partying on south beach thing kind of gives this post away as bs.
19 has found my facebook page, sure enough (easy to do for anyone on google search I suppose), but why would anyone care? And why would anyone care about my wife's looks or anything else about her or my family for that matter?
I suggest that you take a look in the mirror and ask yourself why do you read through each AC post going back 18 months and then read through each posts' comments and analyse them (incorrectly though, as I don't recall posts like 17 and 19 before, although there have been references to my wife in past, probably as a result of my asking for those to stop). Seems like you are very excited about all this, but wouldn't you be better off just focusing on whatever it is you do? You obviously have an agenda, but it is a very childish one and you are not going to accomplish much by commenting here. Although a lot of folks seem to read the AC posts (based on emails and calls I get on daily basis), very few comment and take the obvious bs comments seriously and I can't understand why you would take such interest if you have no interest in the content of the posts.
Sometimes I wonder why we even allow comments. It is amazing that there are attorneys and / or law students that entertain themselves by making childish annonymous comments after varous posts at ATL. Usually when you see such comments on web after articles, you assume it is a 10 year old having fun, but all of the readers of ATL are presumably attorneys and law students. Funny, pathetic and sad...
(Sometimes I wonder why Evan chooses to communicate with prospective candidates through comment threads rather than just shutting off comments and allowing them to email or call him directly.)
44, I think its great that unlike the other sponsors, they have the guts to keep the comments open. lateral link did for a while but shut it off when the comments were brutal, much more than here. Sure, Evan gets some silly comments, probably from immature competition, but the comments are not so bad.
38, add 45 to your list.
45 - I'm still not sure what the point of having comments on Asia Chronicles is.
Evan, are you attending Super Return while in HK this week? I ask because you have not mentioned it, although you are coincidentally in HK and you wrote about being at Super Return in Dubai last year. I would like to know what the mood was like among the speakers and in general re the outlook for PE in China. Thanks.
47, I don't understand why you are obsessed about it. What is your motivation for reading the posts and then opening up the comments, leaving a comment wondering why there is comments, and then returning to the comments to reply with another comment wondering why there is comments. Even if you have some strange agenda, what could possibly be accomplished? And if the comments go away, what will you be doing with your free time? In reality, these posts are only intended for the very narrow audience of biglaw attorneys that are interested in the Asia markets. I am one of those and this blog is very popular among the persons I know who are similarly interested in the Asia markets. I think Evan is doing a great service for those of us who have had a hard time finding such info online. It is not just this blog, I have noticed Evan's quotes in articles over the years in New York Times, American Lawyer and various Asia legal industry related publications. He is a recognized leader and source of information in this niche part of the industry.
49 - I think the articles are great, so no need to set up a straw man argument defending the posts. It's the comments such as yours that I find worthless.
By the way, it should be "why there are comments," not "why there is comments."
Hope that helps.
- 47
@49: not our fault you're insanely jealous of Evan. Dork.
51, I think you mean: "not our fault you're insanely jealous of Evan (dork).
Evan, are India practices in HK or Singapore hiring lately? Also, are firms ok with LL.Ms with NYC associate experience and some India law firm experience?
@52: no, I didn't mean that.
-51
Me Chinese. Me want Big Paying Job in China!
We, the loyal readers of Asia Chronicles and the future Evan Jowers' of the world, salute the original Evan Jowers on becoming one of only 15 recruiters listed on the Lawdragon.com list of "100 Legal Consultants You Need To Know."
53 - Why not try Bangladesh?
48, I am not attending Super Return this week, but did time this HK trip to meet with a some of the PE partners that are in town. I have gone to the coference before in Dubai and HK, but this week did not have time.
53, Yes India practice hiring has picked up a bit. We have a few India background candidates interviewing now and one with offer. At present India background LL.M.s with some experience in both NYC (at top 10 firm) and India are getting interviews. Most of the activity is in Singapore.
Evan,
What practice areas are hiring for the India practice?
I am not from NYC 10 but from a regional firm with 200+ attorneys. 2 yrs. exp.
What expat+compensation package should one expect with my exp.?
Do I have a shot?
60 - why not try "the" Pakistan?
61- since 'the' in 60's post is referring to the practice and not India, it is OK to use 'the' in that context.
Why don't you get a life before you make fun of something that you don't completely understand. You moron!
62 - How can practice areas hire for the India practice? Since when does a practice area hire for a practice area?
60, India practice work is mostly a mix of M&A and cap markets. It is a very selective lateral hiring market in general, so would be challenging,if not impossible, getting interviews at top international firms in HK or Singapore without having great academics and top law firm experience (similar to trying to interview at same firms in NYC). thus if you are at a regional firm, then your work would have to be sophisticated and your law school academics very impressive. Also, most of those getting interviews for India pracitces in this market will have also had some previous experience in India at a top law firm there.
evan --
i did ok in lawschool and am familiar with india (i like curry food and watched slumdog millionaire). wanna hook me up with a job?
thanks,
mr. gupta
Dang, Evan had things right on in this article he wrote earlier this year for Asia Counsel magazine.
http://www.pbpress.com/index.php?page=index&block=article&id=DP7D7ID-XXMG33M-MMBBBBL-LLLLLLL
Evan, easily and unequivocally you are the purerst douchenozzle in the world. keep up the excellent work.
hi evan --
mark from miami, here. i did a short stint in hk in 2006, and read your posts primarily to learn what has/hasn't changed in that area since then. generally, i find your posts to be accurate. i certainly wish i knew a bit more about expat packages packages back then, but i doubt a u.s. firm sending an associate for secundment would pay any more even if it knew about these perks. i write today simply to say that you're real cute, and that i don't like trolls like michael p. and steve knocking on your glasses -- they look fab and so do you!
thanks for the good post!
mark
Evan, do you here talk from partners about the theory that China's gov may pull back liquidity after the 60 bday?
The nerdy Tokyo photo must be more than a year old. I saw Evan today working out at Pure on the escalators and he has long hair, kind of like the Russel Crowe look :-)
Unless you are an associate with impeccable resume, good luck getting represented by Evan. He mostly works with partner level candidates now. If you happen to catch him on the phone and you are not from top 10 firm, then he will probably give you a lot of helpful info on market, but push you off to someone else on his team. That is what he did to me, but I can't complain. I learned a lot from talking with him. I just don't see why he advertises so much for associate candidates when he only personally works with the best on paper. Most of his readers of the AC series he does not have time to personally represent so seems like a waste of resources and money. just my 2 cents.
Thanks 71 (I mean Evan).
72, Evan has placed and / or helped a lot of associates in Asia, so it is naive to not believe that any even marginally positive comments must come from Evan pretending to be a commentor. He placed me and a number of others I know in Hong Kong and mainland, a bunch at my firm. He is the best recruiter I ever worked with and it is not even close. I was refered to him and I have refered others. Nuff said.
Probably would be best if Evan just took the comments down because they will always be overrun with a juvenile competitor or two with agenda. What is the purpose of the comments anyways? So few readers ask substantive questions in the comments so it is a waste of time to read through them.
74 here, writing from Honolulu. I agree with 73, any substantive questions can simply be emailed to Evan directly.
Evan, what is the range in HK for partner level housing allowances?
75, it varies a lot more than with associates and is also at some firms more negotiable. In general though, at the competitive firms, it is 100 to 250k depending on the firm and partner level. Also, it is less often cash lump sum (as with associates), meaning it can be use it or lose it structure, and for US tax payers the allowance is often grossed up about 50%.
69, There is of course some thought out there that China must pull back some liquidity (not all have this opinion) in order to stave off inflation and it is at least plausible that China may be waiting until after the Oct. 1 celebration to do this. As you probably know 60 years is a very significant cycle in China and more important than even the 50th birthday for the govt. When a govt. gets through 60 years, it is deemed to be a very significant event and bode well for its future. Analagous to the Olympics last year, China will want a lot of momentum and and happy population leading up to the celebration.
Some M&A and cap markets partners I know do think there is a chance that China may pull back liquidity after the Oct. 1 week celebrations. Some of these partners' clients have been rushing to do their deals before then.
However, most of the partners I talk to, especially that are more on HK IPOs than China IPOs, see a busy deal flow in HK / China at least til end year (not that they expect slow down in early '10, but just can't predict that far in this still slow global market).
Thanks Evan. What about housing for non-equity partners?
Evan, if you're going to pretend you're someone else doing the commenting, for God's sake at least change your script a little: When we see "agenda" and "competitor," we know it's you. Nuff said.
And yes, please do turn off the comments. Think of all the time you'd spend not having to defend yourself under various aliases.
79, yes those two words are rarely used ones in the English language, both being from a bygone era, so a dead give away. What about the word "the" that is always used in posts?
I know you are really excited about your discovery, but who is "we"? Do you really think there is a large audience out there even reading, much less caring about these comments, hanging on every word and analyzing for possible patterns going back two years, however laughable, as you do?
Yes, you are a troll and desperate competitor of Evan's and with a nonsensical agenda (oops, now I have per se given myself away as Evan pretending to be me, according to your logic :-).
Just think: if Evan turns off the comments then you will not have to return to them numerous times per day to analyze patterns and claim that Evan is secretly all the commentors.
I for one have a lot of respect for what Evan and Robert have done in the market here in HK. I know many others who feel the same. Hell, if you google him you will see all kinds of market info from him, not just on ATL. he has been doing this a long time going back to the greedy boards years ago and has been featured in all kinds of media for his Asia law firm industry knowledge (his photo on cover of New York Times when Asia crash hit last year is one example).
I used Evan for my move from Atlanta to SHG a few years ago. He helped me move in-house last year in BJ. He is more like an agent than a recruiter and is always available for career advice. I feel fortunate to have been refered his way by a friend.
I know Evan well, from way back in our Marines days and working in Russia together in mid 90s. Good guy. The slams here are just typical bs you would expect and I am sure he does not sweat it, but giving my props. 79 is hilarious and if you are a COMPETITOR with an AGENDA then I suggest you go to work because Evan works very hard (very long hours), has sky is the limit goals, and is a good person. He does not rely on this blog for the bulk of his success. His reputation gives him clients.
found this blog called Mid Level US Biglaw Associate in HK. In the blog this guy answers all kinds of questions about biglaw work / life in HK and also mentions that Evan placed him there and gives him high praises.
http://www.xoxohth.com/thread.php?thread_id=1059980&mc=113&forum_id=2&PHPSESSID=fkrqmhaak#12483482
What's going on with the Moscow market? Any hiring or at minimum some interviewing you are seeing?
84, Things are still very slow with hiring in Moscow, but not surprising. However, we are committed to that market because we see a biglaw lateral hiring boom (not a HK mind you, but strong market) there within the next few years. Yuliya is the person to talk to. She just opened a new office in St. Petersburg and has been running our Moscow office for some time. Yuliya@kinneyrecruiting.com. I was last in Moscow in July '08, just before the Russia market crash, and firms then had very strong needs for lateral US and UK associates, especially in M&A (mostly UK) and cap markets (mostly US). There have been a lot of lay offs since then unfortunately, but that market will come back. If you are an impressive corporate associate with a reason to be in Russia, then you can feel comfortable about your chances of moving there in '10 or '11. Just don't know when the hiring will kick in again. Obviously, price of oil has a lot to do with that economy.
78, In reality, non-equity partners are treated much like counsels at firms that don't have two tier partnerships. Usually counsels get associate expat / housing package. I do see exception when junior partner with decent book, and equity status at current firm, is brought in at non-equity for a year, to make sure clients follow. In such cases, housing is more like equity partner housing.
Of course, at counsel type level there is a higher percentage of attorneys with kids, so there could be significant additiaonal allowance for private international school reimbursement (not all firms do this and the ones that do also usually do it for associates).
thanks Evan. good post.