top of page
Image by Philip Strong
Latest Market Update
Overall Summary

Jan/Feb during Q1 2024 was largely “more of the same”. The market continued to be sluggish amidst economic and geopolitical concerns. However, we did see an improvement in March which we hope will be sustained.

The Crypto Space has started to gain traction after a long hiatus. We see roles (Python/C++ developers) beginning to open up in both Hong Kong and Singapore.

Most IT hires have been happening within the insurance and governmental sectors.

The Top Talent Pass Scheme is attracting more professional talent, particularly from mainland China, to come to Hong Kong. The government announced that more than 40,000 applicants have come to the city. We expect it to be one of the major sources of tech talent in the market.

Financial Services and Insurance

We recently wrote a report on Banking and Finance Technology recruitment analyzing trends across US/European and Chinese Investment banks. This report can be downloaded here in PDF format or please simply reply to this email and ask us for it. 

Insurance companies are announcing their business result and performance scores (which are used to calculate the bonus payout), firms are in general exceeding their business target with the highest up to 200. (100 would be 1x of the target bonus). 

While minimum permanent positions were opening up with banks, contracting positions have been active, albeit in a different volume than what we saw in 2022.

Other Sectors/Domain-Specific Trends

AI is probably the hottest topic, with clients and firms actively exploring use cases and technologies. We notice increasing use cases are developing across firms, and it will likely be the next major demand across the market.

Data would be the major backbone supporting AI innovations. We notice some firms are increasing their headcounts and investments in data-related technologies, including data warehousing, data lakes, and analytics.


Other Noteworthy Points

We have observed a significant interest in offshoring technology functions to lower-cost centers, including Vietnam, Thailand, Indonesia, the Philippines, and Malaysia. Depending on the bank and the individual responsible for this offshoring, there is a preference for one of these locations. Although India remains a major center, retaining talent there is proving difficult due to intense competition, with IT graduates often receiving multiple offers. Additionally, China appears to be off the table for many firms due to the current geopolitical situation. 

We are glad to announce that Seek has awarded us the Best IT Fintech Recruitment Firm Award for 2023-2024. We sincerely thank all our supporters and well-wishers for helping us achieve this recognition. 















We trust this insight will be of value to you. 

Best Regards,

Vince Natteri, Managing Director

(on behalf of the Pinpoint Asia Recruitment Team)

Number of market info found:


2 April 2024

Market Update Q4-2023

This year has been one of the slowest years for technology recruitment in the past 10 years.

9 November 2023

Market Update Q1 - 2023

We observed factors that created headwinds for tech recruitment..............

9 November 2023

Market Update Q2 - 2022

As the cryptic world of crypto started to lose steam during the.................................

9 November 2023

Market Update Q3 - 2021

The technology market has been red hot. We have been observing....................

29 December 2023

Market Update Q3 - 2023

The third quarter of 2023 saw the signs of the beginning of what could be

9 November 2023

Market Update Q4 - 2022

An acute talent shortage in Hong Kong and Singapore during the............................

9 November 2023

Market Update Q1 - 2022

The worsening COVID situation in Hong Kong continued to further stretch

9 November 2023

Market Update Q2 - 2021

Tech hiring boom continues: We have been experiencing another record..................

9 November 2023

Market Update Q2 - 2023

Compared to the first quarter of this year, the overall appetite..........

9 November 2023

Market Update Q3 - 2022

Hiring within technology at the crypto firms definitely slowed down during Q3....

9 November 2023

Market Update Q4 - 2021

It was definitely a candidate’s market! The quarantine..................

8 November 2023

Market Update Q1 - 2021

It feels like 2007 all over again: The demand for tech talent across....................

bottom of page