Why Makati is the hardest executive market in the Philippines to recruit well
Searches in Makati are managed from KiTalent's Almaty hub, with support from our other hubs when the candidate pool crosses markets. Makati's 3.1% unemployment rate tells only part of the story. The city's daytime population of 4.2 million makes it feel vast. Its executive talent pool is not. The senior professionals who run the banks along Ayala Avenue, lead the Big Four accounting firms' Philippine operations, and manage APAC regional mandates from the Triangle form a remarkably tight community. They know each other. They know who is hiring. And they know when a search is being conducted poorly.
Standard recruitment methods produce especially weak results here. Job postings attract the visible minority. LinkedIn InMails disappear into inboxes already saturated by approaches from dozens of agencies competing in the same corridors. The leaders who matter most are the ones who do not respond to generic outreach. They are managing PHP billions in banking assets, building fintech compliance frameworks from scratch, or steering the green retrofit of an entire commercial district. Reaching them requires a different method entirely.
Forty per cent of the Philippines' total banking assets are managed from Makati-based headquarters. BPI, Metrobank, RCBC, and EastWest all operate from within a few blocks of each other. The Big Four accounting firms, 65% of foreign law firms practising Philippine law, and the country's leading asset managers occupy the same buildings, eat at the same restaurants, and sit on the same industry boards. This concentration creates a paradox. The talent is nearby, but discretion is non-negotiable. A clumsy approach to a CFO at Metrobank is known at RCBC by the following week.
Makati's economy is splitting in two. Premium, high-margin functions are deepening their presence in the Triangle and Rockwell. Commoditised back-office operations are migrating to Clark, Cebu, and BGC. The result: the executives who remain in Makati are more senior, more specialised, and harder to replace than ever. Traditional voice BPOs have downsized 15% since 2024, but AI-enhanced KPO operations have expanded, creating demand for a hybrid profile that barely existed three years ago. The supply of leaders who can run these operations is not keeping pace.
The mandates emerging from Makati's corporate headquarters have no historical precedent in the Philippine market. ESG and decarbonisation officers, now mandatory for listed companies, command salaries 40% above historical sustainability manager roles. Fintech compliance heads who understand both the National Payment Systems Act and BSP Circular 1159 are in single-digit supply. APAC regional tax directors managing OECD Pillar Two implications are being recruited from Singapore and Hong Kong rather than developed locally. These are not roles where a database search produces results.
This is why a Go-To Partner approach exists. Not to fill a single vacancy, but to maintain continuous intelligence on who holds which role, who is moveable, and what it takes to move them. In a market this concentrated and this competitive, the firm that already knows the talent pool before the mandate begins is the firm that delivers.