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THE 2011 HAYSSALARY GUIDESHARING OUREXPERTISESalaries and recruiting trends across Asia.
2 | Salary Survey 2011
Contents
Section One - Market Overview & Trends5 Market Overview & Trends6 Top employment issues for 20117 Salaries8 Bonuses9 Benefits10 Overtime11 Staffing
Section Two - Salary Information14 Accountancy & Finance15 Commerce & Industry - Financial Executives18 Accounting Support19 Banking Industry - Financial Executives20 Professional Practice - Financial Executives
21 Banking22 Front Office24 Middle Office25 Back Office26 Retail & Corporate
27 Insurance
31 Finance Technology
34 Information Technology35 Development36 Infrastructure37 Business39 Information Technology - Telecom
41 Pharma
44 Human Resources
46 Office Professionals
48 Legal
50 Sales & Marketing
52 Supply Chain
53 Education
54 Construction55 Construction56 Engineering
57 Architecture
58 Property
61 Manufacturing & Operations61 Logistics62 Automobile63 High-Tech64 Heavy Industry
66 Oil & Gas67 Operations & Production68 Project Development70 Other
Thank you
We would like to express our gratitude to all those organisations who participated in the collection of data for this year’s survey. Your contribution has ensured that we can produce an informative document to help support your business decisions.
Disclaimer
The Hays Salary Survey is representative of a value added service to our clients and candidates. Whilst every care is taken in the collection and compilation of data, the survey is interpretive and indicative, not conclusive. Therefore information should be used as a guideline only and should not be reproduced in total or by section without written permission from Hays.
15,000+PEOPLE PLACED IN PERMANENT JOBS EACH YEAR
10,000+TEMPORARY AND CONTRACT STAFF ENGAGED EACH WEEK
950+ CONSULTANTS IN ASIA PACIFIC
45 LOCATIONS ACROSS THE REGION
34+YEARS OF EXPERIENCE
Salary Survey 2011 | 3
4 | Salary Survey 2011
DRIVING ORGANISATIONAL PERFORMANCE THROUGH PEOPLE
“�The�mobility�of�people�across�the�region�for�the�right�career�is�definitely�on�the�increase.�A�critical�success�factor�for�any�organisation�in�the�coming�year�will�be�how�effective�they�are�at�driving�organisational�performance�through�people�and�that�success�factor�is�the�same�for�all�of�our�clients�across�the�Asia�Pacific�region.”
Nigel�Heap,�Managing�Director�of�Hays�Asia�Pacific
Salary Survey 2011 | 5
SECTION ONEMARKET OVERVIEW& TRENDS
79 per cent of employers across Asia would consider employing or sponsoring a qualified overseas/expatriate candidate in skill short areas
6 | Salary Survey 2011
“Skill shortages, salary pressure, overseas recruitment and social media are amongst the top issues that will dominate the employment market in 2011.”
TOP ISSUES FOR 2011MARKET OVERVIEW & TRENDS
Asia’s jobs market is now very active with healthy levels of movement. However a shallow pool of talent in many specialist areas is the biggest threat to growth, which is why the ability to overcome skills shortages will become the defining characteristic of the employment market in 2011.
It is also the catalyst for many of the other issues we expect to dominate in 2011, like salary pressure, the growth of counter offers and recruiting from overseas.
Skill shortagesWe saw the first signs of skill shortages in 2010, particularly in the financial services, IT and finance technology areas. There is also a shortage of bilingual candidates with higher level English skills in both China and Japan.
Various strategies to help overcome the skills shortage will be explored in 2011; and every success will tighten the candidate market further, which will have consequences for all employers looking to recruit.
Salary pressureThere is no doubt that professionals with skills in demand will expect a healthy salary increase in 2011. Employers will need to reconsider salaries in order to attract and retain the best candidates.
Return of the counter offerCompanies are expected to dig deep to retain their top talent in the face of a tightening candidate market. A successful counter offer involves more than just money – employers need to make sure they address the underlying issue of why their employee decided to look for a new job in the first place.
Recruiting from overseasDespite widespread agreement that employers will need to recruit migrants to meet the growing list of skills in demand, there remains a lot of reluctance about this particular strategy for helping to overcome skills shortages.
Recruiting from overseas can be an uncomplicated process, and it is one that, properly done, yields good results.
Attraction and retentionIn order to attract and retain talent, more employers are using bonus schemes, health and life insurance, gym memberships, stock options or education benefits. However it is time to get more innovative and consider the implementation of solid career development plans as well.
Social media’s influence growsWe expect the use of social media checks to become more mainstream in 2011. No longer will it be just the savvy employers that use social media to cross-reference a candidates’ employment history or evaluate potential employees. The lines between social and business sites have blurred and social media profiles will be viewed just as often as an employer searches a candidate’s name via Google.
But more than this, we also expect this publicly-available information to be used not just when recruiting, but when employers consider promotions and succession planning. So in 2011 it will be not just job seekers that need to ensure their online profile remains professional, but all employees.
Salary Survey 2011 | 7
SALARIESMARKET OVERVIEW & TRENDS
The highest increases are expected in China next year with 51% intending to increase salaries between 6-10% and 33% by more than 10%.
China recorded the highest increases with 68% of employers raising salaries between 3-10%, and 22% by more than 10%.
When you next review, by what percentage do you intend to increase salaries?
By country:
Nil to 3%
3% to 6%
6% to 10%
Greater than 10%34%
41%
16%
9%
Nil to 3%
3% to 6%
6% to 10%
Greater than 10%
0
20
40
60
80
100
10%
China Hong Kong Japan Singapore
38% 71% 32%
23%
11%11%
45%41%
24%
51%
22%
10%5% 6%
Nil to 3%
3% to 6%
6% to 10%
Greater than 10%
18%
50%
22%
10%
Nil to 3%
3% to 6%
6% to 10%
Greater than 10%
0
20
40
60
80
100
7%
China Hong Kong Japan Singapore
23% 58% 18%
51%
13% 15%
9%
59%
7%
62%
33%
5%
31%
4% 5%
On average, by what percentage did you increase salaries in your last review?
By country:
8 | Salary Survey 2011
MARKET OVERVIEW & TRENDS
Almost half the respondents from Hong Kong intend to pay more than 15% of the salary as a bonus.
All respondents reported an intention to pay bonuses to more than half of their employees.
BONUSES
Are bonuses related to:
None
Up to 10%
10% to 20%
20% to 50%
Greater than 50%
7%8%
10%
11%64%
Up to 5%
5% to 10%
10% to 15%
Greater than 15%22%
8%
25%
45%
0
20
40
60
80
100
5%
Hours billed Firmperformance
Guaranteed Other
89% 10% 27%
What percentage of staff do you intend to award a bonus to this year?
On average, what percentage of staff salary do you intend to award as a bonus?
Salary Survey 2011 | 9
MARKET OVERVIEW & TRENDS
78% of all respondents give their employees benefits in addition to salaries and bonuses.
Health is the number one benefit, provided by 65% of employers surveyed.
BENEFITS
If yes, which of the following do you provide?
Hong Kong
Singapore
78% 22%
Yes No
0
10
20
30
40
50
60
70
80
59%
Health Housingallowance
Lifeassurance
Pension
49% 47% 33%
0
10
20
30
40
50
60
70
80
73%
Health Pension Housingallowance
Lifeassurance
58% 31% 31%
0
10
20
30
40
50
60
70
80
71%
Health Lifeassurance
Pension Housingallowance
63% 60% 37%
0
10
20
30
40
50
60
70
80
63%
Health Car Lifeassurance
Housingallowance
52% 47% 29%
Do you give any benefits in addition to salary/bonus?
Top benefits by country: China
Japan
0
10
20
30
40
50
60
70
80
Hou
sing
allo
wan
ce
Pens
ion
Hea
lth Life
assu
ranc
e
Har
dshi
pal
low
ance Tax
equa
lisat
ion
Clu
b /
gym
mem
bers
hip
Car
/ c
aral
low
ance
Priv
ate
Expe
nses
Oth
er
10 | Salary Survey 2011
MARKET OVERVIEW & TRENDS
52% of staff are not paid for these additional hours.
More than one third of respondents reported an increase in overtime.
Increased
Decreased
Remained the same37%
7%
56%
OVERTIME
Are employees paid for these additional hours?
< 5 hours
5 - 10 hours
> 10 hours32%
49%
19%
Paid
Unpaid
Other30%
52%
18%
Over the last 12 months has overtime/extra hours in your organisation:
If increased, by how much per week?
Salary Survey 2011 | 11
MARKET OVERVIEW & TRENDS
Permanent staff levels have increased for 51% of respondents and 55% expect levels to increase again in the next 12 months.
Two thirds of those employers that utilised a flexible staffing approach hired temporary staff through an agency.
STAFFING
In the next 12 months, do you expect permanent staff levels to:
If yes, please specify:
Increased
Decreased
Remained the same
51%
10%
39%
50% 50%
Yes No
Increase
Decrease
Remain the same
55%
5%
40%
0
10
20
30
40
50
60
70
80
35%
Part-timesta
Casualsta
Temporary /Contractor
Other
25% 66%
JobSharing
13% 7%
Over the last 12 months, have permanent staff levels in your department:
In the last 12 months, have you utilised a flexible staffing approach?
12 | Salary Survey 2011
MARKET OVERVIEW & TRENDS
STAFFING
12 | Salary Survey 2011
In the next 12 months, do you expect your use of temporary/contract staff to:
Regular, ongoing basis
Special projects
Exceptional circumstances / never
23%
47%
30%
Hum
anre
sour
ces
Acc
ount
ancy
& fi
nanc
e
Ban
king
Sale
s
Mar
ketin
g
Engi
neer
ing
Prop
erty
/fac
ilitie
sm
anag
emen
t
Ope
ratio
ns
Dis
trib
utio
n
Purc
hasi
ng IT
Tech
nica
l
Hea
lthca
re
Res
earc
h &
deve
lopm
ent
Oth
er
Entry to middle management Senior management
0%
5%
10%
15%
20%
25%
30%
Increase
Decrease
Remain the same26%
11%63%
How often do you employ temporary/contract staff?
For which areas have you recently found it difficult to recruit?
Is it your policy to counter-offer staff when they resign?
79% 21%
Yes No
Yes
Sometimes
No
7%
64%
29%
In skill-short areas, would you consider employing or sponsoring a qualified overseas/expatriate candidate?
SECTION TWOSALARY INFORMATION
In general, salaries increased an average of 3 to 6 per cent in the last review. The outlook is positive for candidates with further increases earmarked for 2011.
Salary Survey 2011 | 13
14 | Salary Survey 2011
“It is critical that employers identify which sectors will be in demand so they can plan their recruitment accordingly.”
CHINACandidates are clearly more confident about the accountancy and finance job market in China compared with the past two years. As a result there will be more movement which will help keep supply and demand balanced.
We expect that many large multinationals may localise their senior management team in China over the coming year. This will lead to an increase in replacement hires for positions such as Finance Controller, Finance Director and CFO. Senior candidates with both China and overseas work experience will be highly sought after for these roles.
As the global economy rebounds, China maintains its position as one of the hottest markets for foreign investment. This will result in steady flow of employment opportunities over the next year. Candidates with sound understanding of IFRS or USGAAP in particular will be highly sought after.
Those who have the proven ability to implement good internal controls and best accounting and finance practice to retain shareholders’ interests and confidence will also be in high demand.
Candidates with both a professional services and industry accounting background are also sought. Most employers are willing to pay 10 to 15 per cent higher than common market rates for such skills sets.
Year-end salary increments are common in China, with average increases of around 8 to 10 per cent within most companies. This will have a strong impact on this year’s job market and salary ranges.
There is an oversupply of accountancy and finance candidates in China so if you wish to advance your career within this area, a CPA (or equivalent accounting qualification) is extremely important.
It has also become extremely important to improve not just your technical skills but management and people skills such as communication, coaching and leadership.
Economic growth has seen companies expand rapidly so candidates who are adaptive and willing to work hard to help set up finance operations will be rewarded financially.
HONG KONGThe market in Hong Kong steadily improved in 2010 following a difficult year in 2009. Companies grew headcount as Asian markets continue to perform well relative to the global picture, although it was done with an air of caution.
With increased confidence from both employers and candidates, we expect a buoyant market for accountancy professionals in 2011. Many companies have indicated they are budgeting for headcount growth and some have started the process to source good candidates in anticipation. It is critical that employers identify which sectors will be in demand so they can plan their recruitment accordingly.
We saw high demand throughout 2010 for technical accounting and control skills such as financial reporting (IFRS), risk and controls as well as operational risk. This was driven by the industry requirement for more extensive internal and external regulations, and will continue through 2011.
There is also high demand for candidates experienced in management reporting and product control in key growth areas of business in Hong Kong, like equity derivatives.
In 2010 salaries increased on average 10 to 15 per cent and we expect this to continue in a similar way in 2011. There will be some higher increases for specialist roles or positions where the candidate pool is very limited.
Think carefully about your longer term career plan and use a good agency to facilitate your search in a professional way. Avoid job hopping too frequently as this is viewed negatively by employers. Make sure you judge companies for yourself, rather than relying on hearsay in the market.
JAPANWhile 2010 was a year of recovery, remnants of the 2009 economic crisis still lingered. An over-abundance of job seekers and a shortage of job opportunities led to a highly competitive hiring market. As the global economy rebounds and investment in Japan increases, 2011 is set to deliver more opportunities to candidates.
Most mid-management or executive-class finance candidates moved to new companies during the hiring frenzy of 2006 and 2007. With the general executive tenure period of three to five years now due to expire, there will be an increase in movement amongst these candidates in 2011.
As a general trend, replacements for critical positions in foreign-capital company finance departments (i.e. Accounting Manager, Division Analyst / FP&A Managers) will always be in demand due to the general ebb and flow of human capital movement.
Salaries are expected to increase as the general economy recovers and the surplus of post-2009 meltdown job seekers decreases.
Candidates should invest in themselves. Try to aim for accounting credentials (Nissho Boki 1 or USCPA) and study English (800+ for TOEIC). Also stick within your industry and specialty when conducting your job search. Successful job seekers will stick to their strengths and build upon experience.
SINGAPORE2010 was a good year to be a jobseeker in Singapore, particularly within the banking sector. The Singapore economy bounced back strongly from the recession of 2009 and, with Singapore being such a prominent financial services centre, candidates benefitted from the banks hiring aggressively during the first three quarters of the year. This recovery was mirrored in many industrial sectors and as such recruitment within oil and gas, real estate, IT&T and FMCG was also relatively buoyant compared to 2009.
The market slowed down toward the end of 2010 as candidates began to consider their bonuses and attention turned to 2011. However, despite the uncertainty in European markets, the expectation is that Singapore will continue to grow and that recruitment will pick up again in the first quarter of 2011.
The main skills in demand for 2011 will continue to be regulatory, risk, compliance and audit related, although the expectation is that there will be good career opportunities across the board for talented candidates as the upward curve continues.
The recovering recruitment market has meant that salaries have slightly increased over the year, with companies trying to retain top talent, who can often hold multiple offers. Moreover, in the banking sector there has been a push towards a larger fixed component piece and a smaller bonus.
If you have realistic goals, you can be optimistic that 2011 will offer you the chance to progress your career and undertake new challenges.
SECTOR OVERVIEW
ACCOUNTANCY & FINANCE
Salary Survey 2011 | 15
Commerce & Industry | Financial Executives Accountancy & Finance
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • These salaries do not include bonuses • Top of range in MNC’s implies regional role • Salaries are represented in local currencies • Job titles in global organisations vary greatly from European/American/North American companies• SME - Small to medium enterprise; MID - Medium to large; MNC Multinational companies
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
600 - 800 800 - 1,000 1,000 - 1,600
1,000 - 1,400 1,100 - 1,800 1,200 - 2,800
10 - 15 12 - 20 15 - 25
180 - 240 230 - 320 300 - 500
350 - 450 450 - 600 600 - 800
600 - 800 720 - 960 840 - 1,350
8 - 12 10 - 15 12 - 18
150 - 180 175 - 250 240 - 280
250 - 350 350 - 500 400 - 600
500 - 600 540 - 700 620 - 850
8 - 10 10 - 12 12 - 15
90 - 125 110 - 150 120 - 170
170 - 250 270 - 350 350 - 500
360 - 480 450 - 520 520 - 660
7 - 10 10 - 12 10 - 15
75 - 95 90 - 120 110 - 150
100 - 200 150 - 250 250 - 350
300 - 396 330 - 420 390 - 520
6 - 8 6 - 10 8 - 10
55 - 80 65 - 85 80 - 100
150 - 220 150 - 250 250 - 350
360 - 450 400 - 520 470 - 600
8 - 10 10 - 12 10 - 15
75 - 90 85 - 110 95 - 130
80 - 120 90 - 150 120 - 250
240 - 360 320 - 450 360 - 580
5 - 8 6 - 8 7 - 10
60 - 80 80 - 100 90 - 120
Finance Director / CFO
Financial Controller
Senior Finance Manager
Finance Manager
Assistant Finance Manager
Senior Management Accountant
Management Accountant
SME
SME
SME
SME
SME
SME
SME
MID
MID
MID
MID
MID
MID
MID
MNC
MNC
MNC
MNC
MNC
MNC
MNC
16 | Salary Survey 2011
Accountancy & Finance Commerce & Industry | Financial Executives
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • These salaries do not include bonuses • Top of range in MNC’s implies regional role • Salaries are represented in local currencies • Job titles in global organisations vary greatly from European/American/North American companies• SME - Small to medium enterprise; MID - Medium to large; MNC Multinational companies
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
100 - 200 150 - 220 220 - 350
340 - 420 370 - 500 460 - 560
5 - 8 6 - 8 6 - 8
75 - 90 85 - 110 95 - 130
80 - 120 100 - 150 150 - 220
216 - 330 250 - 350 330 - 480
4 - 6 5 - 6 5 - 7
60 - 80 80 - 100 90 - 120
80 - 120 120 - 160 160 - 250
280 - 360 320 - 480 420 - 540
4 - 6 5 - 8 6 - 8
60 - 80 80 - 100 90 - 120
580 - 650 600 - 750 800 - 1,200
620 - 820 780 - 1,100 860 - 1,500
10 - 15 12 - 16 15 - 20
140 - 180 175 - 250 240 - 320
320 - 450 450 - 600 650 - 800
450 - 680 600 - 750 680 - 1,050
8 - 12 10 - 15 12 - 20
80 - 130 110 - 150 130 - 190
150 - 180 180 - 220 220 - 250
400 - 500 480 - 600 500 - 680
5 - 7 5 - 8 6 - 8
70 - 95 90 - 120 120 - 150
Senior Financial Accountant
Financial Accountant
Financial Analyst
Tax Director / Head
Tax Manager
Tax Accountant
SME
SME
SME
SME
SME
SME
MID
MID
MID
MID
MID
MID
MNC
MNC
MNC
MNC
MNC
MNC
Salary Survey 2011 | 17
Commerce & Industry | Financial Executives Accountancy & Finance
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • These salaries do not include bonuses • Top of range in MNC’s implies regional role • Salaries are represented in local currencies • Job titles in global organisations vary greatly from European/American/North American companies• SME - Small to medium enterprise; MID - Medium to large; MNC Multinational companies
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
450 - 600 550 - 700 650 - 800
660 - 850 700 - 1,200 1,000 - 1,500
8 - 12 10 - 15 12 - 18
130 - 160 150 - 210 250 - 350
200 - 300 300 - 450 400 - 500
450 - 550 520 - 750 720 - 1,000
7 - 10 8 - 12 12 - 15
75 - 95 100 - 150 150 - 200
180 - 250 250 - 300 300 - 350
240 - 400 360 - 520 450 - 650
5 - 7 6 - 8 7 - 10
60 - 75 70 - 100 90 - 125
350 - 450 400 - 550 550 - 750
500 - 600 580 - 750 800 - 1,200
10 - 12 12 - 15 15 - 18
90 - 120 110 - 150 140 - 220
250 - 350 350 - 450 450 - 600
400 - 450 420 - 650 600 - 840
8 - 10 10 - 12 12 - 15
75 - 95 100 - 150 150 - 200
120 - 200 150 - 280 200 - 400
200 - 320 320 - 480 360 - 580
5 - 7 6 - 9 8 - 10
60 - 80 80 - 100 90 - 120
Head of Internal Audit
Internal Audit Manager
Assistant Audit Manager
Senior Treasury Manager
Treasury Manager
Treasury Accountant
SME
SME
SME
SME
SME
SME
MID
MID
MID
MID
MID
MID
MNC
MNC
MNC
MNC
MNC
MNC
18 | Salary Survey 2011
Accountancy & Finance Commerce & Industry
Notes• Typical Salary Range in ‘000 (excluding Japan which is stated in millions) • These salaries do not include bonuses • Top of range in MNC’s implies regional role • Salaries are represented in local currencies • Job titles in global organisations vary greatly from European/American/North American companies• SME - Small to medium enterprise; MID - Medium to large; MNC Multinational companies
Financial Executives
Accounting Support
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
N/A N/A 800 +
650 - 780 680 - 900 1,000 - 1,500
8 - 12 10 - 15 12 - 16
130 - 160 140 - 200 200 - 300
N/A N/A 600 - 800
480 - 620 580 - 800 800 - 1,000
8 - 10 8 - 12 12 - 15
100 - 130 120 - 180 170 - 220
N/A N/A 400 - 600
380 - 500 420 - 580 440 - 700
6 - 8 7 - 10 8 - 12
80 - 100 95 - 125 110 - 180
220 - 300 220 - 360 280 - 460
5 - 7 6 - 8 6 - 8
45 - 60 55 - 75 65 - 90
Head of Compliance
Senior Compliance Manager
Compliance Manager
Compliance Specialist
Graduates
Support
SME
SME
SME
SME
MID
MID
MID
MID
MNC
MNC
MNC
MNC
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
90 - 160 45 - 100
156 - 280 N/A
4 - 6 3 - 5
45 - 60 35 - 45
45 - 65 45 - 65 45 - 55 45 - 75
150 - 260 190 - 250 210 - 384 240 - 360
3 - 5 3 - 5 5 - 7 3 - 5
25 - 35 25 - 35 25 - 38 25 - 38
Assistant Accountant
Accounts Receivable Accounts Payable
Graduate Accountant
Credit Control Bookkeepers
Salary Survey 2011 | 19
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies • Investment banking salaries are at the higher end of ranges stated; consumer banking at the lower
Banking Industry | Financial Executives Accountancy & Finance
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
1,200 - 2,000 900 - 1,600 600 - 1,000
1,400 - 2,800 1,200 - 1,800 750 - 1,100
15 - 30 12 - 20 10 - 18
280 - 550 180 - 280 160 - 220
450 - 750 300 - 500 N/A
600 - 850 380 - 500 1,200 - 1,800
10 - 16 7 - 10 15 - 25
110 - 180 75 - 120 250 - 340
800 - 1,000 600 - 800 400 - 600
1,200 - 2,000 850 - 1,200 600 - 850
20 - 35 15 - 20 11 - 16
Financial ServicesFinance Director/ CFO Financial Controller Senior Finance Manager
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
600 - 1,100 320 - 450 1,550 - 2,100 700 - 1,000
10 - 18 6 - 10 12 - 25 12 - 18
120 - 190 60 - 90 250 - 340 170 - 240
N/A N/A N/A 800 - 1,200
550 - 850 320 - 440 1,100 - 1,800 650 - 1,000
10 - 15 8 - 12 20 + 13 - 22
100 - 150 70 - 95 230 - 320 160 - 220
650 - 900 800 - 1,200 N/A N/A
400 - 600 950 - 1,200 650 - 800 380 - 500
10 - 15 15 - 18 8 - 12 6 - 10
70 - 110 220 - 290 120 - 180 60 - 90
300 - 450 N/A N/A N/A
350 - 480 190 - 270 190 - 270 190 - 350
10 - 14 5 - 8 5 - 8 6 - 10
N/A 30 - 50 30 - 50 30 - 50
Finance Manager Assistant Finance Manager Tax Director/ Head of Tax
Head of Compliance/ Risk
Senior Compliance/ Risk Manager Compliance/ Risk Manager
Tax Manager Tax Accountant Head Internal Audit Senior Audit Manager
Audit Manager Assistant Audit Manager
Dept Head Product Control
Senior Product Controller
Product Controller Senior Treasury Manager Treasury Manager Treasury Accountant
Compliance/ Risk Specialist Accounts Receivable Accounts Payable Credit Control
20 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Accountancy & Finance Professional Practice | Financial Executives
Audit
Advisory Practices
Tax
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
220 - 290 300 - 450
5 - 8 7 - 12
55 - 65 65 - 85
220 - 290 300 - 450
6 - 8 8 - 12
55 - 65 65 - 85
220 - 290 300 - 450
5 - 8 7 - 10
55 - 65 65 - 85
Tax Consultant Senior Tax Consultant
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
550 - 800 800 - 1,100 1,200 +
10 - 16 12 - 18 18 +
80 - 120 120 - 180 200 +
550 - 800 800 - 1,100 1,200 +
10 - 18 12 - 20 20 +
80 - 120 120 - 180 200 +
550 - 800 800 - 1,100 1,200 +
10 - 15 12 - 18 15 +
80 - 120 120 - 180 200 +
Tax Manager Senior Tax Manager Tax Director
Manager Senior Manager Director/ Partner
Senior Associate/ Assistant ManagerConsultant
Manager Senior Manager Director/ Partner
Senior Associate/ Assistant ManagerConsultant
SECTOR OVERVIEW
Salary Survey 2011 | 21
“Hiring peaked early in the third quarter of 2010 and for the first time since before the financial crisis banks hired individuals that were not their first choice.”
CHINAMany international banks witnessed consistent growth and favourable market conditions in China during 2010. As a result many have decided to increase their presence here in 2011 – or are at least contemplating it.
Strong market players are keen to expand their retail banking network. Thus candidates with a solid background in retail banking sales, operation and build networks are in huge demand.
Given favourable government policies and the issue of RMB business licenses, financial institutions are focused on corporate banking, trade finance and corporate loan products. Candidates with such skill sets usually find it quite easy to secure employment.
Due to the expansion of businesses and the lesson learned from the global financial crisis, regulators and banks are placing additional focus on risk monitoring and internal control. Consequently demand has risen for candidates in credit risk, market risk, operational risk control and internal audit, with attractive remuneration packages provided.
International financial institutions are interested in utilising their overseas products and networks to develop derivative products which are underdeveloped within China. They are aiming to provide onshore and offshore services to companies as well as high net worth individuals. Candidates, particularly those from overseas markets, with excellent knowledge in treasury products, equity products, foreign exchange products, sales and product design are in demand.
Overseas candidates will also be targeted for roles in private wealth management. Banks are keen to develop this market in the coming year and these candidates are in short supply locally.
Employers are willing to pay top salaries to attract top-end skill sets. Salaries have increased on average by 20 per cent for candidates who are taking new career opportunities within the financial services industry.
The year-end performance bonus is a common form of compensation. The average middle and back office bonus is around 15 to 25 per cent of the base salary, while in front office it is highly performance and target related, with various ways to calculate it.
Banking and financial services employers have very high expectations of a candidate’s professionalism due to the nature of the industry. Fluent English is a must in order to perform well within the sector and a good understanding of China’s Banking Regulatory Commission requirements will also add value.
HONG KONG2010 was a year of strong recovery for Hong Kong’s banking market. From early in the first quarter onwards there was an improvement in hiring levels, with high demand for front office traders and in middle office areas like risk and compliance.
Demand rose following the payment of bonuses at Chinese New Year, particularly in corporate finance and structured finance. In addition, corporate banking and wealth management picked up significantly with hiring activity evident across most of the major banks.
Employers have approached 2011 with confidence and so we expect an increase in hiring activity as the middle and back office start to meet the demand created by the front office. Candidates have also become more confident to move to new opportunities, and this will increase overall movement within the market.
With the improving economic climate, budgets have risen as have salary levels - by an average of 20 per cent.
Hiring peaked early in the third quarter of 2010 and for the first time since before the global financial crisis banks hired individuals that were not their first choice. This is a sure sign we are heading into a candidate short market. This will result in higher salaries and the need for incentives to be offered.
JAPANRecruitment activity within Japan’s financial services market finally slowed down in the last quarter of 2010 after a relatively good year. This cyclical trend typically happens at the end of the third quarter and early fourth quarter within finance each year, with 2009 the exception.
During 2010 a growing number of candidates received multiple offers as well as very competitive counter offers from their current companies (especially Japanese houses). This trend is expected to continue as long as candidates are strong and the recruitment market is as active in 2011 as it was in 2010.
There has been a lot more activity within the fixed income and credit space (front, middle and back office), as opposed to equities.
There are reports that a number of hedge funds will be set up in Tokyo in 2011. Various professionals, including Analysts and Fund Managers, will be highly sought after as a result.
Most firms are taking a cautious approach to their hiring plans as they aim to link headcount increases with revenue growth. However, there will be the usual movement around bonus season, as well as some selective hiring of new roles as firms seek to strengthen areas of their business.
In early 2010 a number of houses increased base salaries under the expectation of lower performance bonuses for the year. We expect salaries to continue to increase in 2011 due to the heavy regulations on bonuses from the US.
One noticeable difference from previous years is that hiring processes take longer. So if you are interested in looking for a new role, we suggest you start early rather than wait until bonuses are paid.
SINGAPOREThe market continues to strengthen and competition for expert candidates will increase in 2011. There will be continued demand for suitably qualified and experienced banking professionals, especially in the areas of private banking, credit risk management, compliance, commodities trading, structured finance, trade finance, valuations and pricing, and capital controls.
We expect no significant movement in salaries this year, apart from areas where there are specific shortages of talented banking professionals. Increases in 2010 ranged from between 10 to 30 per cent, with some adjustment the result of minimal salary increments in 2008 and 2009.
Although the market is definitely improving candidates should remain realistic in their salary expectations and ambitions for their next role. Play to your strengths and be able to demonstrate an ability to be commercial and hands-on in your approach.
BANKING
22 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are annual and represented in local currencies • Typical benefits include performance based bonuses
Banking Front Office
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Singapore
N/A 400 - 600 600 - 800 1,000+ N/A
400 - 500 500 - 750 800 - 1,200 1,300 - 1,800 2,000 - 2,300
7 - 11 9 - 13 14 - 25 25 - 35 30 +
70 - 90 90 - 130 140 - 210 220 - 300 330 - 350
N/A 400 - 600 600 - 800 1,000 + N/A
400 - 700 600 - 1,000 1,000 - 2,000 1,500 - 3,000 3,000 - 6,000
9 - 14 12 - 18 15 - 30 35 + 65 +
110 - 130 135 - 160 170 - 200 210 - 300 280 - 245
140 - 300 250 - 500 350 - 600 600 - 900 1,000 +
275 - 400 400 - 600 600 - 900 900 - 1,200 1,100 +
9 - 14 14 - 20 20 - 30 14 - 20 20 - 35
55 - 70 75 - 90 95 - 160 180 - 250 250 +
180 - 320 240 - 500 300 - 650 700 - 900 1,000 +
400 - 580 600 - 1,000 780 - 1,200 1,100 - 1,350 1,300 - 2,500
8 - 12 10 - 18 15 - 22 20 + 35 +
72 - 110 90 - 150 150 - 180 180 - 250 220 +
N/A 150 - 250 250 - 400 500 - 700 1,000 +
400 - 580 700 - 1,000 900 - 1,200 1,200 - 1,500 1,500 - 3,000
75 - 110 100 - 160 140 - 190 170 - 250 250 +
Analyst
Analyst
Research Analyst
Associate
Associate
Associate
Associate
Equity Analyst
Analyst
Analyst
Vice President
Vice President
Senior Equity Analyst
Senior Analyst
Senior Analyst
Director
Director
Assistant Portfolio Manager
Assistant Portfolio Manager
Assistant Fund Manager
Managing Director
Managing Director
Portfolio Manager
Portfolio Manager
Fund Manager
Project Finance
Leverage Finance
Asset Management
Private Equity
Hedge Fund - Investment
Hedge Fund - Execution
Hong Kong
Singapore
Hong Kong
Singapore
600 - 1,000 1,300 + 1,000 +
90+ N/A 150 - 200
1,500 + 400 - 700 750 - 1,100
180 + 180 - 250 250 +
Risk Analyst
Senior Quantitative Analyst
Risk Manager
Trader
Quantitative Analyst
Senior Trader
Salary Survey 2011 | 23
Front Office Banking
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are annual and represented in local currencies • Typical benefits include performance based bonuses
China
Hong Kong
Japan
Singapore
180 - 240 300 - 480 400 - 600 700 + 1,000 +
400 - 600 600 - 1,000 900 - 1,300 1,100 - 1,700 1,700 - 3,000
8 - 12 10 - 18 15 - 22 20 + 35 +
60 - 80 90 - 150 150 - 220 200 - 280 280 +
Analyst Associate Senior Associate Vice President DirectorCorporate Finance Mergers & Acquisitions
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
120 - 240 300 - 500 500 - 900 1,000 +
400 - 600 600 - 1,200 1,200 - 2,500 2,500 +
10 - 20 15 - 35 35 + 80 +
55 - 70 80 - 180 175 - 260 320 +
200 - 350 300 - 500 450 - 650 1,000 +
300 - 400 400 - 600 600 - 1,000 1,000 - 1,500
10 - 20 15 - 35 35 + 80 +
50 - 60 62 - 90 85 - 160 160 +
280 - 400 450 - 650 250 - 400 250 - 350
300 - 480 480 - 720 360 - 600 300 - 450
15 - 30 20 - 40 15 - 20 12 - 15
34 - 42 42 - 58 80 - 85 42 - 58
120 - 250 300 - 450 350 - 500 600 +
500 - 1,000 1,200 - 3,000 600 - 1,200 1,200 +
15 - 20 35 + 15 - 30 35 +
60 - 150 150 - 250 70 - 100 120 - 180
Entry-level Trader
Financial Sales
Wealth Manager
Private Banking Relationship Manager
Trader
Senior Financial Sales
Senior Wealth Manager
Senior Private Banking Relationship Manager
Senior Trader
Institutional Sales
Premier Banking Relationship Manager
Sales Manager
Head ofFinancial Markets
Head of Institutional Sales
Private Banking Client Services Officer
Sales Director
Global Markets
Financial Markets
Financial Planning & Wealth Management
24 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are annual and represented in local currencies • Typical benefits include performance based bonuses and education costs
Banking Middle Office
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
120 - 220 180 - 300 360 - 600 700 + 1,200 +
350 - 550 550 - 700 700 - 900 900 - 1,200 1,200 +
8 - 10 11 - 14 13 - 16 14 - 18 18 - 25
40 - 55 50 - 70 70 - 115 160 - 210 280 +
80 - 150 150 - 250 250 - 400 500 - 700 900 +
330 - 550 500 - 650 650 - 850 850 - 1,100 1,100 +
8 - 11 10 - 13 12 - 16 15 - 20 20 - 30
40 - 55 60 - 80 75 - 115 150 - 220 220 +
120 - 200 200 - 320 320 - 400 500 - 750 850 +
400 - 600 600 - 850 650 - 850 850 - 1,200 1,200 +
8 - 11 10 - 13 12 - 16 15 - 20 20 - 35
21 - 44 40 - 60 65 - 115 160 - 210 220 +
Credit
Risk
Compliance
Associate Senior Associate
Associate Vice President Vice President Director
Associate Senior Associate
Associate Vice President Vice President Director
Associate Senior Associate
Associate Vice President Vice President Director
Salary Survey 2011 | 25
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are annual and represented in local currencies • Typical benefits include performance based bonuses and education costs
Back Office Banking
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
150 - 300 250 - 350 450 - 650 750 - 1,100 1,100 - 1,500
310 - 400 400 - 550 650 - 850 900 - 1,300 1,100 - 1,800
7 - 8 8.5 - 12 11.5 - 14 15 - 20 20 - 30
40 - 55 55 - 70 80 - 120 150 - 200 220 - 280
80 - 100 120 - 180 200 - 350 250 - 550 800 +
250 - 350 380 - 480 540 - 650 800 - 1,100 1,000 - 1,400
7 - 9 10 - 15 15 - 25 30 + 65 +
40 - 50 50 - 65 85 - 125 100 - 150 200 - 267
Trade Support / Treasury Operations Money Market / FX / Derivatives / Capital Market
Funds Operations
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
320 - 400 380 - 570 600 - 840 750 - 1,100
7 - 10 8 - 12 10 - 16 15 - 20
45 - 60 60 - 75 85 - 130 150 - 220
60 - 90 80 - 150 180 - 250 200 - 350
180 - 250 200 - 300 300 - 400 350 - 400
5 - 6 6 - 8 7 - 9 8 - 12
21 - 28 30 - 40 36 - 50 42 - 60
150 - 300 250 - 350 800 + 900 +
260 - 360 320 - 500 500 - 650 650 - 900
7 - 8 8 - 12 10 - 15 15 - 20
40 - 55 60 - 70 85 - 130 150 - 220
Corporate Actions
Secretary / Admin Assistant
Documentation / Treasury Operations
China
Hong Kong
Japan
Singapore
90 - 110 110 - 140 140 - 180
300 - 320 320 - 360 400 - 600
7 - 10 8 - 12 10 - 16
30 - 45 50 - 65 65 - 75
Settlements
Analyst Senior Analyst Associate Director Director
Officer Assistant Manager Manager
Secretary Senior Secretary Personal Assistant Executive Assistant
Analyst Senior Analyst Associate Director Director Head
Analyst Senior Analyst Associate Director Director
Administrator Senior Administrator Manager
Business Development Manager
General Manager
26 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are annual and represented in local currencies • Typical benefits include performance based bonuses
Banking Retail & Corporate
China
Hong Kong
Japan
Singapore
China
Hong Kong
Singapore
China
Hong Kong
Singapore
80 - 150 540 - 1,000 300 - 480 500 - 700 (Retail)*
200 - 280 300 - 420 N/A 700 - 900
7 - 9 12 - 15 N/A 15 - 23
30 - 45 50 - 75 N/A 80 - 110
120 - 180 180 - 300 250 - 320 320 - 420
150 - 200 200 - 250 300 - 400 400 - 450
33 - 42 40 - 47 67 - 75 85 - 100
90 - 150 120 - 240 240 - 500 300 - 720
300 - 350 350 - 400 480 - 600 600 - 800
50 - 58 58 - 67 67 - 100 100 - 134
Branch Management
Residential Lending
Trade Finance
China
Hong Kong
Singapore
China
Hong Kong
Singapore
40 - 70 70 - 120 180 - 260
100 - 150 100 - 150 200 - 250
20 - 30 22 - 32 42 - 47
60 - 120 120 - 240 240 - 400
180 - 260 260 - 360 360 - 540
30 - 55 48 - 72 80 +
Branch Staff
Cash Management
Lending Officer Branch Manager Sub Branch Manager Regional/ District Manager
China
Hong Kong
Singapore
China
Hong Kong
Singapore
60 - 120 180 - 320 320 - 480 400 - 700 600 - 1,000 +
300 - 360 360 - 420 420 - 450 700 - 1,000 1,000 - 1,300
50 - 60 60 - 70 80 - 92 116 - 167 167 - 217
40 - 100 120 - 280 300 - 420 420 - 500 540 - 800
180 - 300 240 - 420 420 - 540 540 - 660 660 - 840
30 - 55 40 - 75 75 - 100 90 - 120 120 +
Corporate & Commercial Lending
SME Banking
Teller Customer Service Advisor Branch Supervisor
Assistant Relationship Manager
Relationship Manager
Senior Relationship Manager
Team Head Division Head
Assistant Relationship Manager
Relationship Manager
Senior Relationship Manager
Team Head Division Head
Sales Officer Assistant Manager Manager
Mortgage Assessor/ Credit Analyst
Senior Mortgage Assessor/ Credit Analyst
Mobile Lending Manager Senior Manager
Processing Officer Senior Processing Officer Team Leader Manager
*800+ (Corporate)
SECTOR OVERVIEW
Salary Survey 2011 | 27
“There was very little movement in salaries with most firms erring on the side of caution. 2011 however could well see increases ranging between 10 and 15 per cent.”
HONG KONGThe insurance market in Greater China saw an increase in recruitment activity in 2010. The two key reasons for this were replacement hires and the creation of new positions after the global financial crisis (GFC). Insurers, especially in life, continued to move forward with their growth strategies in Asia and are consequently up-skilling most departments, including product development, actuarial, finance, audit, project management and capital management.
There has been some restructuring in preparation for solvency II as well as the imminent changes in IFRS 4. As a result there will be continued demand for project managers, particularly in finance, operations, process re-engineering, product development and actuarial to help with operational changes. This demand is expected to continue until 2012.
Distribution will be another key area of growth and development. Therefore candidates with relevant experience will be highly sought for bancassurance roles, agency development and brokerage related roles.
Salaries increased around 5 per cent over the last year. Most insurance companies are still being quite frugal with increases ranging between 10 and 15 per cent.
While there has been a decline in big sign on bonuses, which were prevalent before the GFC, some of the most aggressively expanding insurers are offering contract rates at nearly 30 per cent above the standard increases. This is not the case for permanent offers, where the top-end offer currently sits at a maximum of 15 per cent above standard.
Candidates with local language skills and proven insurance experience can expect salary increases of up to 15 per cent this year, provided they have not already received a pay rise in the past 12 months. Overseas candidates also have the opportunity to pick up decent packages with relocation expenses support if they have direct insurance experience as well as proven experience in Asia.
All candidates should be aware that offers are being withdrawn from those who become too money orientated and push to drive up offers.
SINGAPORESimilar to Hong Kong, recruitment activities increased steadily in Singapore over the past year. While this was predominantly due to the confidence felt in exiting the GFC relatively unscathed, it was also the result of the increasing demography of an ageing population and growing income.
The market has been dominated by life insurance, which has been contributing to industry growth. In recent years however there has been an increase in general insurance and specialist areas such as marine, which now account for a small percentage of the total market.
Companies have become more reluctant to offer expat packages and sign on bonuses, with a view to retaining and nurturing local talent over the foreign workforce.
Upcoming regulatory requirements, particularly the technical provisions of Solvency II, will impact the actuarial space. Growth and business development will be a key strategy in 2011, with organisations looking to dramatically improve their position in the market. There is high demand for experienced individuals with agency/channel distribution, bancassurance and brokerage related backgrounds.
There was very little movement is salaries with most firms erring on the side of caution. 2011 however could well see increases ranging between 10 and 15 per cent for those individuals with the desired skills set.
Candidates with local market knowledge can expect to be in demand and may be fortunate enough to see salary increases of up to 15 per cent this year. Overseas candidates with proven experience in Asia will also see demand, although they should not expect lucrative relocation packages.
INSURANCE
28 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Insurance
Hong Kong
Singapore
Hong Kong
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Singapore
1,500 - 3,000 960 - 1,920 600 - 960 480 - 760
280 - 440 180 - 340 150 - 200 110 - 130
1,100 - 3,500 900 - 1,300 600 - 900 600 - 900
280 - 440 180 - 280 150 - 200 120 - 170
1,500 - 2,500 900 - 1,720 650 - 1,000 450 - 900
N/A 15 - 25 12 - 18 10 - 15
280 - 440 230 - 320 170 - 240 100 - 150
1,080 - 2,000 600 - 1,150 420 - 760 1,500 - 2,500
250 - 350 150 - 210 90 - 140 280 - 440
Department Head
Chief Distribution Officer
Chief Auditor
Department Head
Vice President
Department Head
Department Head
Senior Manager
Senior Actuarial Manager
Distribution/Agency Manager
Senior Internal Audit Manager
Manager
Actuarial Manager
Bancassurance Manager
Internal Audit Manager
Chief Compliance Officer
Actuarial
Distribution
Audit
Compliance / ORM
Hong Kong
Japan
Singapore
1,300 - 3,000 1,000 - 1,800 800 - 1,300 650 - 900 500 - 720
15 - 30 15 - 25 10 - 18 10 - 15 8 - 12
260 - 520 180 - 280 160 - 240 140 - 190 100 - 150
CFO Department Head Financial Controller
Senior Finance Manager Finance Manager
Finance
Salary Survey 2011 | 29
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Insurance
Hong Kong
Singapore
Hong Kong
Singapore
Hong Kong
Singapore
1,080 - 2,000 600 - 1,150 420 - 760 1,100 - 1, 600
190 - 320 110 - 180 80 - 120 260 - 320
1,000 - 1,600 1,000 - 1,400 500 - 900 450 - 600
160 - 240 140 - 220 90 - 160 85 - 110
1,200 - 2,500 900 - 1,200 720 - 1,000 500 - 800
260 - 400 180 - 240 130 - 190 80 - 120
Department Head
Transformation/ Program Manager
COO
Manager
Program Manager
Head of Operations
Assistant Manager
Project Manager
Operations Manager
Chief Underwriter
Business/Research Analyst
Office Manager
Underwriting / Claims
Projects
Operations
Hong Kong
Singapore
1,000 - 1,500 800 - 1,100 800 - 1,100 450 - 700 1,500 - 2,200
160 - 230 140 - 200 140 - 200 85 - 110 280 - 400
Manager Regional Manager
Assistant Manager
Business/ Research Analyst Head of Strategy
Strategic / Corporate Planning
Sales & Marketing
Hong Kong
Singapore
1,000 - 1,800 500 - 900
160 - 250 80 - 130
Business Development ManagerRegional Business Development Manager
30 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Insurance
Application Development - Front Office
Application Development - Middle / Back Office
Application Support - Front Office
Application Support - Middle / Back Office
Japan
Japan
6 - 9 7 - 10 8 - 15
6 - 9 7 - 10 8 - 15
Application Support
Application Support
Team Leader
Team Leader
Manager
Manager
Others
Management
Japan
Japan
Japan
Japan
10 - 15 10 - 15 8 - 13
8 - 13 10 - 15 10 - 12
13 - 18 13 - 18 13 - 18
15 - 20 18 - 20 15 - 18
Business Analyst (Back Office)
IT Audit
Infrastructure Manager
IT Director
Business Analyst (Back Office)
Service Delivery Manager
Development Manager - Front Office
CIO
IT Security/ IT Risk
Test Manager
Development Manager - Middle/ Back
Application Support Manager
Japan
Japan
Japan
Japan
7 - 10 7 - 10 7 - 10
7 - 10 7 - 10 7 - 10
8 - 12 10 - 15 7 - 10
8 - 12 10 - 15 7 - 10
C++/ Java/ C# Developer
C++/ Java/ C# Developer
Application Architect/Lead Developer
Application Architect/Lead Developer
Excel/ Visual Basic Developer
Excel/Visual Basic Developer
Development Manager
Development Manager
Database Developer
Database Developer
Main Frame Developer
Main Frame Developer
SECTOR OVERVIEW
Salary Survey 2011 | 31
“The past 12 months also saw the decline of expat packages. Many banks now simply offer a cash plus bonus arrangement as well as relocation costs.”
HONG KONG2010 saw a return to more traditional cyclical hiring patterns reminiscent of market conditions pre-global financial crisis (GFC). The year got off to a quick start with strong demand across a number of functional risk management, pricing and order management technology businesses.
The tail end of 2009 saw an uncharacteristically high number of department heads move out of several tier 1 firms on both a global and regional scale. This was responsible for a considerable amount of demand in the first part of 2010. For the first time since 2006 all tier 1 banks increased their Hong Kong technology headcount by a considerable percentage.
At the time of 2011 budget approval there was growing evidence that 2011 is likely to be a strong growth year.
The cost difference between Hong Kong and Singapore is not what it once was. There are a number of firms now willing to house engineering and software development staff in Hong Kong, which has not been the case over the past five years or so.
Demand is currently high for strong OO development staff and Project Managers. In fairness however all traditional functional profiles are in short supply.
Salaries have remained fairly flat with job moves and counter offers creating a natural boost in candidate demands. Given the renewed interest in overseas candidates across South East Asia, tax gains are off-setting increased salary demands for those relocating. This will change in 2011 as the market tightens and demand outstrips supply considerably.
Be realistic with salary expectations. Many candidates have received little to no increase over the past three years. This is obviously frustrating however it is a reflection of the market rather than your employer or personal performance.
JAPANTypically domestic firms and financial software vendors have a different recruiting cycle, however both were actively hiring throughout most of 2010. This competition meant that candidates received multiple offers and significant raises, something that did not happen in 2009.
There was strong demand in the areas of electronic trading, FIX connectivity and application support across all firms in 2010. We also saw the return of development roles in Tokyo. As always, there was strong demand for bilingual candidates but there were opportunities for English-only speakers as well.
Demand for electronic and automated trading experts will continue throughout 2011. There will also be an increasing number of business-facing roles creating demand.
In 2009, most candidates moved jobs or, if jobless, took offers for similar salaries or small decreases. Candidates were moving for stability and a long-term career path. While they are still a factor, candidates are also now expecting salary increases.
Control your resume. While it’s important to aggressively pursue roles that you are interested in, most major firms do not like to see the same candidate’s resume for several different roles.
Know your strengths and weaknesses. It’s very rare for any candidate to match every point on a job specification, even those who are hired. Understand when you go in for an interview which parts of the job fit very well and sell those points. Be honest about your weaknesses, but show how you have overcome them and learned new skills in the past.
SINGAPOREThe past year has been a story of two halves. There was continued hiring by most international banks as the need to gain a competitive edge heightened. There has been a focus on the wealth management and commodities space and this was reflected in staffing requirements. The first half of 2010 saw large-scale hiring across both infrastructure and development related positions.
The second half of the year saw a more conservative approach to hiring, with many banks deciding to take stock from a talent perspective. Instead employers opted for internal moves where possible and replacement hires for key positions, rather than aggressive growth. Management positions were the exception, with strategic hires continuing to be made.
Over the coming 12 months demand will continue for support based roles as more and more in-house developed trading applications are released. Specific business knowledge across commodities, financial markets and wealth management will also remain a focus alongside more niche ‘system led’ skill sets.
The number of management and project management positions will continue to increase as Singapore becomes more of a regional hub for top tier banks.
In terms of salaries, these remained steady in 2010 with average increases of 10 per cent. There have been exceptions, with certain banks offering good increases to attract specific top talent. The past 12 months also saw the decline of expat packages. Many banks now simply offer a cash plus bonus arrangement as well as relocation costs.
As Singapore becomes a financial hub, banks are looking for details of achievements in the resumes they receive. Taking the time to really think about and document the challenges that you have overcome, listing specific achievements and relevant work examples, will help your resume stand out from others. More and more employers are looking for candidates with business knowledge as well as IT skills and this will only increase.
FINANCE TECHNOLOGY
32 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are represented in local currencies
Finance Technology
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
350 - 800 350 - 500 300 - 500
15 - 20 15 - 20 15 - 20
80 - 100 80 - 105 75 - 100
375 - 500 450 - 650 550 - 750
12 - 18 15 - 22 15 - 25
70 - 90 80 - 140 120 - 180
500 - 750 500 - 850 1,200 - 1,800
16 - 28 16 - 28 20 - 33
110 - 190 100 - 150 180 - 250
450 - 900 575 - 1,000 550 - 1,250 450 - 850
18 - 28 18 - 30 17 - 27 15 - 24
130 - 180 120 - 200 100 - 160 90 - 140
700 - 1,000 1,200 - 1,800 850 - 1,400 850 - 1,750
16 - 30 22 - 50 20 - 35 20 - 35
120 - 200 185 - 260 185 - 260 200 - 300
350 - 550 500 - 700 500 - 750 450 - 750
16 - 24 18 - 30 15 - 25 13 - 20
90 - 170 110 - 160 80 - 120 70 - 120
Application Development - Middle / Back Office
Application Support - Middle / Back Office
Application Development - Front Office
Application Support - Front Office
C++/ Java/ C# Developer
Excel/ Visual Basic Developer
FIX Client Connectivity Developer
Database Developer
Application Architect/ Lead Developer
Development Manager Algo Developer Quantitative
Developer
Application Support Team Leader FIX Connectivity
Support Market Data Engineer
C++/ Java/ C# Developer Excel/ Visual Basic Developer Database Developer
Application Architect Application Architect/ Lead Developer Development Manager
Application Support Team Leader Manager
Salary Survey 2011 | 33
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are represented in local currencies
Finance Technology
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
500 - 1,000 500 - 750 500 - 1,400
15 - 25 14 - 23 18 - 30
135 - 195 85 - 150 N/A
600 - 840 600 - 860 800 - 950
15 - 40 13 - 20 15 - 23
100 - 160 100 - 150 130 - 220
750 - 1,250 450 - 850 650 - 950
15 - 30 12 - 14 13 - 20
130 - 170 70 - 95 100 - 150
600 - 1,200 1,500 - 2,150 1,000 - 1,500
25 - 50 25 - 50 25 - 50
150 - 220 190 - 270 140 - 190
960 - 1,500 2,000 - 4,000 700 - 1,000
25 - 50 40 - 100 15 - 28
220 - 350 360 - 580 140 - 195
850 - 1,150 600 - 900 720 - 1,500 480 - 840
16 - 30 16 - 30 18 - 30 12 - 18
175 - 250 140 - 200 200 - 280 85 - 125
Others
Management
Project Manager (Front Office)
Project Manager (Back Office) Program Manager Project
Co-ordinator/ PMO
IT Security/ IT Risk IT Audit Business Continuity Planning Manager
Business Analyst (Front Office)
Business Analyst (Back Office) Quantitative Analyst
Service Delivery Manager Tester Test Manager
Infrastructure Manager Development Manager - Front Office
Development Manager - Middle/ Back
IT Director Chief Information Officer Application Support Manager
SECTOR OVERVIEW
34 | Salary Survey 2011
“Web programming, such as PHP and Flash, is coming back into focus however there’s no doubt that .NET and Java are still the two main programming languages for developing enterprise applications.”
CHINAChina has become one of the top countries to outsource IT projects to. Consequently the IT market will continue to grow and in the coming year there will be many new jobs available. Big brands such as IBM, HP and Oracle have large recruitment plans and will utilise their R&D centres here in China to meet global demands.
Tier two cities will experience jobs growth as the Chinese government offers benefits to encourage investment in cities such as Tianjin, Nanijing, Chengdu, Dalian, Wuhan and Hangzhou. Many global companies have already set up their R&D centres or their shared service centres in such cities. This will create a lot more technical jobs in the next two years. However, the major issue they face will be sourcing candidates with suitable technical skills locally.
As a result, there will be a number of price wars between companies. Top candidates now see they are in demand and are requesting salary increases of 30 per cent and those with strong and unique skills will get such an offer.
In general, salaries have increased by 20 to 25 per cent for a new job offer. Companies are also looking at salary increases as a retention strategy.
There has been an increase in demand in all areas of IT. These are typically junior to mid-level roles. Within business areas, Sales Managers, Business Consultants and Project Managers have definitely increased in demand.
Oracle EBS is gaining popularity within the ERP area so experienced technical candidates will be needed. There is also increased demand for Web Product Managers and SEO Specialists.
Web programming, such as PHP and Flash, is coming back into focus however there’s no doubt that .NET and Java are still the two main programming languages for developing enterprise applications.
Within the infrastructure area, virtualisation and cloud computing are skills which are scarce.
Encouraging market conditions mean that good candidates may have a lot of offers to choose from. However, you shouldn’t choose offers based on salary. Instead look at the company’s culture, career progression and training opportunities to help you determine the right opportunity.
We suggest you try to specialise in a particular skill or technology. In China, a lot of candidates would prefer to move into a manager or project manager position where they can become less technical and less hands-on. However, there is a demand for candidates with strong technical skills on a specific technology.
Improving your English communication skills and getting IT certifications will also help you secure a role.
HONG KONGThe financial industry continued to recover over the last year and this is slowly having an effect on other markets, including IT. Companies were cautious in 2010, however hiring activity should improve in 2011 as businesses expand and new projects kick off.
There has been high demand for experienced individuals with financial systems knowledge. In the applications area, developers and those with expertise in implementing new ERP and BI systems have been in demand as many companies renew existing systems. On the infrastructure side, networking has been a hot area, along with project management and IT audit. In the applications area, developers have been sought.
Salaries have remained fairly stable within the IT sector as employers have been cautious of hiring new staff. Salary increments for those changing roles have been between 10 and 15 per cent, with an increase above this quite difficult to achieve.
If you are looking for a new role, we suggest you wait patiently in your current role for your next opportunity. The market is recovering, so there will be opportunities arising during 2011.
SINGAPOREMuch of the focus in 2010 was to align the IT business unit and to consolidate teams globally in order to create global competency centres. A lot of new projects and new bids were also completed. There will therefore be a lot of recruitment activity in the first three quarters of 2011 as most of these projects start their first phase of hiring and project implementation.
SAP professionals have been in high demand across various modules with a minimum two full cycle implementation. There has also been a demand for software architects across a range of industry domains.
Salaries have increased by 20 per cent. For exceptional candidates the increase has been up to 25 per cent. Project and contractual bonuses range from one to two months.
You can look forward to a lot of new opportunities in the ERP, development and infrastructure space. Be proactive and demonstrate your ability to multitask across your responsibilities. Also, most roles will require consulting experience.
INFORMATION TECHNOLOGY
Salary Survey 2011 | 35
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies • ^Contract rates in Singapore are quoted as a monthly figure
Development Information Technology
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
130 - 220 130 - 220 130 - 220
350 - 450 350 - 550 300 - 500
6 - 10 7 - 10 8 - 12
36 - 60 36 - 55 36 - 50
(3.2 - 5^) (3.5 - 5.5^) (3.8 - 5.8^)
160 - 300 150 - 280 160 - 300
500 - 600 400 - 550 450 - 600
8 - 12 8 - 12 8 - 12
48 - 75 50 - 80 66 - 90
(3.8 - 5.8^) (4.2 - 6^) (5.5 - 7^)
200 - 350 200 - 380 200 - 330 200 - 350
500 - 750 400 - 550 400 - 650 400 - 650
8 - 12 8 - 15 7 - 12 7 - 12
84 - 140 72 - 140 100 - 175 75 - 130
(7 - 11^) (6 - 12^) (9 - 14^) (6 - 12^)
220 - 400 300 - 550
900 - 1,500 1,000 - 2,000
8 - 15 10 - 16
90 - 160 130 - 280
(8 - 14^) (12 - 20^)
Analyst Programmer
Senior Analyst Programmer
Data Specialists
Management roles
MS.Net/ J2EE VB6/ ASP/ SQL/ Delphi/ C++
Oracle Forms/Reports
MS.Net/ J2EE VB6/ ASP/ SQL/ Delphi/ C++
Oracle Forms/Reports
Development ManagerDevelopment Team Leader
Data Architect Database Administrator Data Modeller Data Warehouse
Consultant
36 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies • ^Contract rates in Singapore are quoted as a monthly figure
Information Technology Infrastructure
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
150 - 250 150 - 250 150 - 300 250 - 450 250 - 500 N/A
450 - 600 450 - 600 480 - 660 650 - 800 900 - 1,100 360 - 480
8 - 12 8 - 12 8 - 12 8 - 13 8 - 13 N/A
36 - 60 40 - 70 78 - 130 84 - 150 100 - 180 48 - 60
(3.5 - 5.5^) (4 - 6^) (7 - 10^) (8 - 12^) (8 - 15^) (4.5 - 6.5^)
250 - 380 200 - 380 N/A N/A N/A N/A
480 - 600 450 - 660 500 - 700 400 - 550 480 - 600 350 - 550
8 - 12 8 - 12 8 - 12 6 - 10 6 - 12 6 - 12
48 - 82 66 - 130 54 - 90 40 - 70 45 - 120 48 - 90
(4.5 - 6.5^) (6 - 10^) (5 - 8^) (3.5 - 5.5^) (4 - 10^) (4.5 - 7.5^)
200 - 400 250 - 550 400 - 800
400 - 850 400 - 840 500 - 1,200
8 - 12 8 - 12 8 - 18
72 - 130 84 - 150 90 - 160
(5.5 - 8.5^) (6.5 - 10.5^) (7 - 12^)
WAN
Systems Administration
Management roles
China
Hong Kong
Japan
Singapore
200 - 300 220 - 450 N/A 250 - 380 200 - 380
500 - 600 600 - 800 600 - 800 400 - 600 480 - 660
6 - 10 6 - 10 8 - 12 8 - 12 8 - 12
66 - 110 80 - 120 72 - 120 72 - 120 80 - 140
(6 - 10^) (7 - 10^) (7 - 11^) (6.5 - 10.5^) (7 - 12^)
Technical Specialist
Cisco Engineer Voice/ Comms Engineer
Network Design
Technical Architect
Solutions & Enterprise Architect
NOC Engineer
Unix Admin Sybase/ Oracle/ MS SQL DBA
Storage Engineer
Voice Engineer
Network Engineer
Windows (Wintel) Admin
Security Engineer Security Consultant
Messaging Specialist
Unix Consultant
Pre Sales Engineer
Helpdesk Manager Network Manager IT Manager
Salary Survey 2011 | 37
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Business Information Technology
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
220 - 320 220 - 320 200 - 300
550 - 570 450 - 800 400 - 700
6 - 10 8 - 12 8 - 12
100 - 160 100 - 140 84 - 120
150 - 400 400 - 800 250 - 400
600 - 1,500 1,000 - 2,000 350 - 550
8 - 15 8 - 18 8 - 12
80 - 160 140 - 280 84 - 160
200 - 380 250 - 400 N/A 180 - 300
550 - 750 550 - 750 350 - 500 350 - 550
8 - 10 6 - 10 6 - 10 8 - 12
72 - 130 90 - 170 80 - 144 60 - 120
200 - 400 180 - 300 200 - 350 450 - 650
450 - 650 350 - 550 600 - 800 N/A
8 - 12 8 - 10 8 - 12 8 - 12
84 - 150 48 - 85 66 - 110 120 - 220
Analysis & Project
ERP / CRM
Technical Business Administration
Business/ Process Analyst Systems Analyst
PeopleSoft Technical PeopleSoft Functional Basis Administration SAP Analyst
Project Manager Project/ Program Director IT Audit
SAP Functional Consultant ABAP Developer Oracle Developer ERP Project Manager
38 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies • ^Contract rates in Singapore are quoted as a monthly figure
Information Technology Business
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
250 - 450 300 - 600 250 - 450 400 - 600
800 - 1,000 850 - 1,500 650 - 800 1,500 - 2,500
10 - 25 8 - 18 8 - 18 8 - 18
90 - 160 150 - 280 160 - 240 130 - 220
250 - 450 350 - 700 500 - 1,300 250 - 400
750 - 950 1,000 - 2,000 1,500 - 2,500 600 - 800
8 - 15 10 - 18 10 - 20 10 - 20
72 - 150 120 - 200 180 - 480 72 - 160
(7 - 13^) (12 - 18^) (15 - 30^) (8 - 12^)
250 - 450 300 - 500 400 - 600 250 - 450
350 - 550 450 - 700 N/A N/A
8 - 18 10 - 18 N/A N/A
84 - 180 140 - 240 175 - 250 300 - 600
(8 - 14^) (12 - 18^) (14 - 20^) (25 - 40^)
600 - 1,000 700 - 2,000 300 - 550 350 - 650
1,500 - 2,500 2,000 - 3,000 N/A N/A
10 - 18 10 - 20 8 - 18 8 - 18
220 - 375 280 - 550 90 - 220 140 - 240
Management roles
Business Development
Data Centre Manager
Service Delivery Manager
Client Relationship Manager
Professional Services Manager
IT Director Chief Information Officer Project Manager Director Network
Operations
Manager Senior Manager Sales Director Account Manager
Presales Consultant Presales Manager Technical Sales Manager Industry Consultant
Salary Survey 2011 | 39
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Information Technology
Singapore
Singapore
Singapore
Singapore
Singapore
Singapore
Singapore
72 - 130 84 - 140 60 - 120 72 - 140 84 - 150 90 - 160
72 - 140 72 - 130 66 - 120 84 - 160 86 - 130 90 - 150
72 - 140 84 - 140 72 - 110 90 - 155 72 - 130 80 - 160
72 - 130 66 - 130 72 - 120 84 - 160 84 - 140 90 - 180
84 - 110 66 - 120 60 - 110 84 - 150 84 - 130 84 - 160
84 - 130 74 - 120 66 - 120 84 - 160 72 - 130 84 - 150
84 - 110 72 - 120 66 - 120 100 - 160 90 - 140 110 - 180
Billing
CRM
SDP
OSS
BSS
VAS
EAI
Telecom | Development
Analyst ManagerBusiness Architect SupportIntegrationDevelopment
Analyst ManagerBusiness Architect SupportIntegrationDevelopment
Analyst ManagerBusiness Architect SupportIntegrationDevelopment
Analyst ManagerBusiness Architect SupportIntegrationDevelopment
Analyst ManagerBusiness Architect SupportIntegrationDevelopment
Analyst ManagerBusiness Architect SupportIntegrationDevelopment
Analyst ManagerBusiness Architect SupportIntegrationDevelopment
40 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Information Technology
Singapore
Singapore
Singapore
54 - 120 60 - 90 60 - 90 84 - 160 90 - 170 110 - 180
54 - 110 60 - 90 66 - 110 84 - 140 90 - 160 110 - 160
110 - 220 72 - 140 84 - 160 130 - 220 160 - 240 350 - 600
MPLS Network
Fixed and Mobile Network
BTS / Microwave
VAS Network
Analysis & Project
Management roles
Business Development
Telecom | Infrastructure
Telecom | Business
Singapore
Singapore
72 - 120 84 - 120 90 - 150
110 - 220 84 - 180 160 - 280
Singapore
Singapore
54 - 74 60 - 90 72 - 120 90 - 150
140 - 275 150 - 240 180 - 320 280 - 450
ManagerPresalesArchitect SupportIntegrationEngineer
ManagerPresalesArchitect SupportIntegrationEngineer
Industry Consultant
Technical Sales Manager
Presales Manager
Presales Consultant
Account Manager
Senior Manager
Field Service Engineer Senior Engineer Lead Manager
Engineer Senior Engineer Manager
Business Transformation Project Manager Project/ Program Director
Service Delivery Manager
Managed Services Manager
Chief Solution Architect Director Services
SECTOR OVERVIEW
Salary Survey 2011 | 41
“Many candidates who are happy in their current job may be encouraged to move to the next company with salary increases of at least 20 per cent.”
CHINADemand is high for quality healthcare treatment and products, particularly in major cities like Shanghai, Beijing and Guangzhou. Western products and methods are also viewed more favourably than they have been in the past.
There has been a major spike in diabetes which has led to record breaking sales of pharmaceutical, device and diagnostic products. There has also been record breaking sales in surgical devices, implants and equipment in line with the influx of cars and the reality that this will likely lead to more car accidents.
Clinical operations has become one of the most important functions for healthcare companies in China. This is in part a result of the SFDA’s (State Food and Drug Administration) insistence that all pharmaceutical and devices that are invasive to the human body must pass clinical trials before they can be sold in China.
Unable to ignore the huge potential of the China market, many major healthcare companies not only complied but also decided to set up their global R&D centres in China. This has led to a massive demand for R&D, scientific and clinical research talent that is greater than the existing talent in China.
Companies are looking overseas for Chinese nationals who have travelled away for work in the same segment. This trend is expected to continue and to accommodate this demand Hays Pharma continuously utilises our global reach to source high quality candidates to work in the China market.
There is also a shortage of Biostatisticians, Data Managers and Drug Safety Managers.
Salaries for lower level hires still offer companies a cost savings, but middle and senior management salaries are now on par with most developed economies.
Long-term retention plans as well as sign on bonuses are becoming the norm. Many candidates who are happy in their current job may be encouraged to move to the next company with salary increases of at least 20 per cent.
For those in sales and marketing, serious growth is expected in rural areas. These locations may not be as glamorous a place to live when compared to other areas, but they present the best opportunity to make a name for yourself.
R&D candidates with solid skills will find abundant career opportunities in China. However if you are currently working overseas, do not expect a comparable salary; you will earn more if you stay overseas. You need to consider the long-term benefits of getting into the R&D segment early in China when companies are growing and candidates can grow with the company into bigger, more influential and, of course, higher paying roles in the future. Candidates with Chinese language abilities are given priority.
JAPANHiring freezes were lifted in 2010 and there was an increase in the number of staff budgeted for. When recruiting, employers were looking for qualified and bilingual candidates for both commercial and R&D roles.
The number of total jobs available increased as a result of more investment by both established companies and new startups. Medical device companies, biotech startups, and contract related organisations have been particularly successful.
In order to maintain strong ties to the medical community, many pharmaceutical companies decided to focus on their team of medical liaisons. As this role is vital to communicating with key opinion leaders and medical professionals, pharmaceutical companies have had to adjust their hiring practices to ensure they secure the best talent.
The number of key product launches continues to increase which is creating greater demand for regulatory affairs and quality assurance candidates. Employers have emphasised their need for candidates with experience within their current fields. This is most obvious when it comes to relationships with regulators and experience with NDA approvals.
Additionally, there has been an increase in demand from a number of contract research organisations. They seek Clinical Development Project Managers, Clinical Research Associates, Data Managers, Biostatistics Managers, and Biometrics professionals. This trend is expected to continue as the CRO market matures in Japan.
The increase in product launches has also led to an increase in demand for medical representatives. Although the majority of employers prefer to have candidates with relevant experience, more employers will now consider those with any related sales experience.
SINGAPORESingapore’s life sciences industry experienced a buoyant 2010 in terms of continued inward investment and number of live jobs. There has been an increase in companies hiring in South East Asia generally. As the levels of wealth within the middle classes of these countries increases so does the spending on healthcare and an increasing number of companies are taking advantage of this upward trend. In Singapore the bio-manufacturing space leads the way with a growing number of job vacancies as companies s fight for the limited talent available.
However, with the announcement in late 2010 that a major pharmaceutical company plans to shut its R&D facility in Singapore with a loss of 130 jobs, it hasn’t all been positive news. This continues a trend of businesses taking advantage of lower costs and a larger market in China as well as the major company re-structuring we witnessed in 2010.
Salaries continued to increase between 20 and 25 per cent for roles where skills shortages are most acute. Senior level roles within clinical R&D remain a challenge to fill from the local talent pool. Despite this, employers are reluctant to offer expat packages so the difficulty in attracting talent from other regions to Singapore remains.
As pharmaceutical companies look to Asia and the emerging markets as part of their overall growth strategy, we are witnessing rising demand for people who understand how to strategise regional product entry and price setting. This will lead to more openings for candidates experienced in Market Access, Government Affairs and Health Economics. Until now these activities have often been undertaken by business unit heads and marketing professionals within Asia, but more companies are seeking out specialists within these areas.
Tighter regulatory controls will continue to ensure that Regulatory Affairs and Quality Assurance professionals remain sought after.
Flexibility is key within this candidate short market. We advise you to enter into any new job discussions with an open mind and not to expect salary increases above 20 per cent. Do not price yourself out of an attractive opportunity as there are still exciting times ahead.
PHARMA
42 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are represented in local currencies
Pharma
Technical
China
Japan
Singapore
350 - 650 650 - 1,000 260 - 520
10 - 16 12 - 25 8 - 15
60 - 85 140 - 190 N/A
Commercial
China
Japan
Singapore
China
Japan
Singapore
China
Japan
Singapore
China
Japan
Singapore
1,500 - 3,000 700 - 1,200 100 - 200 150 - 300 250 - 450
20 - 35 12 - 30 6 - 12 8 - 12 10 - 18
150 - 250 120 - 180 35 - 45 50 - 80 70 - 100
400 - 700 200 - 450 100 - 180 400 - 650 600 - 1,200
12 - 20 8 - 15 6 - 10 10 - 20 15 - 25
104 - 115 50 - 70 30 - 45 60 - 85 90 - 120
N/A N/A 1,000 - 1,700 250 - 400 150 - 250
10 - 16 10 - 16 11 - 17 10 - 15 8 - 11
100 - 120 65 - 95 240 - 264 70 - 90 60 - 70
110 - 220 220 - 450 450 - 1,300 800 - 1,500 550 - 1,000
8 - 14 12 - 25 15 - 35 18 - 30 16 - 22
70 - 100 130 - 160 180 - 250 210+ 120 - 150
Business Development Manager
Business Development Director PR/ Corp Comm
Country Manager Sales Director Medical Rep Account
ManagerArea Sales Manager
Good Clinical Practice Manager
Good Manufacturing Practice Manager
Business Unit Head
Drug Safety Manager
Drug Safety Senior Specialist
Medical Affairs Officer
Medical Affairs Manager
Medical Affairs Director
Research &Development Director
Regulatory Affairs Director
Regional Sales Manager
Product Manager
MarketingAssociate
Marketing Manager
MarketingDirector
Salary Survey 2011 | 43
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are represented in local currencies
Pharma
Technical
China
Japan
Singapore
China
Japan
Singapore
China
Japan
Singapore
China
Japan
Singapore
280 - 750 130 - 250 400 - 600 200 - 450 450 - 1,000
8 - 14 15 - 30 7 - 10 8 - 12 N/A
80 - 100 50 - 60 100 - 120 N/A N/A
80 - 150 250 - 400 80 - 200 250 - 450 N/A
6 - 10 10 - 12 6 - 10 7 - 12 7 - 10
50 - 60 60 - 70 60 - 70 120 - 150 N/A
50 - 150 150 - 200 200 - 450 450 - 1,000 150 - 300
8 - 12 10 - 14 12 - 16 14 - 24 6 - 8
50 - 60 60 - 70 70 - 90 150 - 200 40 - 60
100 - 250 250 - 500 600 - 1,300 250 - 600 150 - 350
6 - 8 8 - 10 10 - 18 8 - 12 6 - 12
50 - 60 60 - 80 100 - 150 150 - 250 50 - 70
Regulatory Affiairs Manager
Regulatory Affairs Staff
Quality Assurance Manager
Corporate Affairs Manager
Corporate Affairs Director
Clinical Research Associate
Senior Clinical Research Associate
Clinical Research Manager
Clinical Research Director Study Monitor
Data Management Specialist Data Manager SAS Programmer BioStatistic
ManagerInformation Services Specialist
Scientist Scientist Leader Head Scientist Physician Medical Writer
SECTOR OVERVIEW
44 | Salary Survey 2011
“Competition is fierce at the senior end of the market, especially within financial services. Managers are looking at talent from a regional basis.”
CHINA2009 was a tumultuous year for the corporate world and certainly for HR functions across China. With many organisations folding after the global financial crisis, China was barely pushing forward, being propped up by the massive domestic consumption market.
Economic conditions began to improve in 2010 and businesses are now sensing a much more positive vibe. Consequently over the next 12 months there will be hiring across various industries and for a range of functions.
Several MNCs are beginning to utilise contract solutions for roles like Talent Management and Staffing Managers.
Salaries continue to increase with ranges between 10 to 40 per cent in general for our HR candidates placed.
Top HR candidates as well as stable, seasoned middle managers and specialists continue to be in demand.
Professionals with deep HR execution experience, such as Office/HR system start up and exposure to multi-sites/cities and geographies, are viewed in a more favourable light by potential hiring managers, who can be based out of Shanghai.
Verbal communication skills as well as influencing skills remain the very tenet of soft skill requirements in all hiring for middle managers and upwards.
HONG KONGEmployers are adopting a more involved recruitment process by including not only direct line managers but also colleagues to ensure the chemistry is right across teams. This is a valuable process as it contributes to the longevity of a new employee and it instils a sense of pride amongst existing employees who feel they are part of an important recruitment process.
Salaries remain fairly static at the junior to middle end of the market. Those candidates who have shown stability in their CV’s are in a more competitive position to achieve a salary increase.
At the senior end of the market salaries are competitive as there are few active senior level HR experts in the market.
There has been a steady increase in demand for learning and development (L&D) professionals as employers utilise such techniques in staff retention.
Competition is fierce at the senior end of the market, especially within financial services. Managers are looking at talent from a regional basis rather than focusing purely on candidates in Hong Kong.
Demand is high for HR professionals that have experience developing talent management initiatives. Employers are keen to utilise such programmes as a platform for attracting and nurturing their talent across their business.
Compensation and benefits (C&B) is another key focus area for employers as candidates are placing a greater emphasis on work/life balance and will seek other benefits outside of high salaries. Employers are seeking experienced candidates who can bring new ideas and creativity to ensure their packages attract and retain top talent.
Be selective in your choice of employer and ensure they can match your expectations in terms of job scope, workplace culture and career development opportunities. This will help to ensure you stay long term with a company and lower the chance of you leaving earlier than expected.
Employers are becoming increasingly frustrated by candidates who are interviewing everywhere for the next salary increase. It is important to demonstrate a true interest in both company and job.
JAPANIn 2010 the market stabilised in Japan and there was a steady flow of replacement hires, as well as newly created roles. Headcount that was lost one to two years ago has reopened as companies seek to re-build HR teams.
We expect the demand for bilingual HR professionals to continue throughout 2011. The increase in activity, combined with a candidate-short market, results in candidates receiving multiple offers, increased counter offers and increasingly competitive packages.
HR salary ranges remained consistent from 2009 to 2010, with new joiners receiving only small to moderate increases. We expect base salary ranges to stay level in 2011, however bonus and other incentives may increase to reward good performers.
L&D Specialists are currently in demand as companies re-focus on talent retention and development. There is also increased demand for C&B Specialists as companies seek to upgrade this function.
Although the demand for HR professionals has been steadily increasing, the interview process is still long and the requirements are high. Not only are selections based on experience, employers are looking closely at a candidate’s personality and their fit with the company. On the other hand, in this skills short market, top candidates can still expect multiple offers.
SINGAPOREThere were increased HR activities and demands in all industries in 2010, but in particular within the Banking and Finance space, which was fairly flat in 2009. The commerce & industry sector is also experiencing massive growth as new roles are created due to the change in economy. Demand within the public sector has also steadily increased.
Despite the pool of available candidates decreasing, employers are still very specific about their recruitment needs.
There has been a noticeable increase in talent management and L&D roles as organisations are focused on staff retention as a result of the upturn in the economy. A growing number of regional roles are still being created as organisations move their headquarters to Singapore.
C&B will be an area of focus in 2011 as salaries increase and budgets are completed.
Salaries increased a small amount in the second half of 2010 although companies are still passing on candidates if their expectation is a little bit higher than the budget. Such employers believe there is a wealth of excellent candidates seeking new challenges who are not expecting high increases on their current salaries.
Overall employees can look forward to improved salary prospects into 2011 as in some cases there have been bonus and increase freezes over the last couple of years.
While we advise you not to expect huge increases in salaries in 2011, you will find a substantial increase in opportunities available. Employers remain cautious and many will only employ a candidate from the exact industry background or salary bracket. This situation is likely to change this year so we advise you to be patient.
HUMAN RESOURCES
Salary Survey 2011 | 45
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are represented in local currencies
Human Resources
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
140 - 350 300 - 600 600 - 1,600
N/A 480 - 850 850 - 1,400
10 - 12 12 - 22 N/A
60 - 75 75 - 85 85 +
70 - 200 120 - 250 200 - 700
175 - 300 300 - 650 650 - 850
4 - 7 5 - 9 9 - 12
40 - 60 60 - 85 85 - 150
120 - 200 220 - 600 300 - 800
216 - 400 400 - 800 840 - 1,300
8 - 12 8 - 12 8 - 12
45 - 60 60 - 85 85 - 150
150 - 300 350 - 800 500 - 1,200
240 - 500 500 - 840 840 - 1,200
7 - 12 7 - 12 7 - 14
50 - 60 60 - 85 85 - 180
100 - 300 170 - 1,000 300 - 1,300 500 - 1,000
216 - 380 380 - 700 700 - 1,000 800 - 1,200
6 - 9 8 - 12 N/A 8 - 15
35 - 60 60 - 85 85 + 100 +
Human ResourcesDepartment Head(2-5yrs)
Department Head(5-10yrs)
Department Head(10+yrs)
L&D Officer(2-5yrs)
Recruitment Coordinator
L&D Manager(5-10yrs)
Recruitment(5-10yrs)
L&D Manager(10+yrs)
Recruitment(10+yrs)
Compensation & Benefits (2-5yrs)
Compensation & Benefits (5-10yrs)
Compensation & Benefits (10+yrs)
Generalist(2-5yrs)
Generalist(5-10yrs)
Generalist(10+yrs)
Organisational Development
SECTOR OVERVIEW
46 | Salary Survey 2011
“Financial institutions that took the major hit and let a lot of PAs and EAs go have steadily rehired. This trend will continue in 2011.”
HONG KONGGenerally, Hong Kong’s office professional market has rebounded and employers are eager to replace headcount after the financial crisis. Demand for Executive Assistants (EAs) and Personal Assistants (PAs) in particular is high and this will continue throughout 2011. There are a number of multinational companies expanding or restructuring which is driving this demand further.
The number of candidates actively looking for new opportunities has increased as they feel more confident with the market and are now seeking higher pay.
Although most companies are actively hiring EAs and PAs, they are still very conscious and prudent with their budget for office professionals. Companies will only compensate candidates according to their years of experience and qualifications. Furthermore, with the large pool of candidates available in the market, candidates can only expect to receive an average of 5 to 10 per cent pay increment compared to their last drawn salary.
With the expansion of markets into mainland China, there is high demand for candidates with strong English competency who are also equipped with high proficiency in Mandarin.
In the financial sector there are many temporary roles for EAs and PAs within special project teams. Assistants are needed to help coordinate and provide administrative support to business managers. Candidates with experience supporting a group of managers will be favoured for these roles.
Candidates with specific industry or department experience are also highly regarded. For example, an investment bank will tend to choose candidates who have previously worked with the bank or have experience in another similar investment bank. Such a background is considered important as companies want candidates who can adapt quickly into contract roles.
Permanent roles are available at the senior level to provide one-on-one support to a CEO or senior managers. Companies are more stringent with their recruitment process for permanent roles and candidates with a proven record of job stability and relevant experience are sought.
Although the market has shown strong signs of improvement, it is important for EAs and PAs to be careful when job searching; try not to move away from your past industry experience. If you stay within a particular industry you will present yourself as a stronger candidate with value-adding knowledge and skills.
It is also critical to continuously improve and develop your language capability and software skills. Undertake secretarial and administrative courses in order to advance your career and get more opportunities within the office professionals industry.
Stability is an area of particular focus for employers. It is essential that you research and fully commit to companies to avoid frequently moving around as this will hamper your chances of securing a position in the future.
SINGAPOREThe need for secretarial support has increased over the past 12 months after the large number of redundancies in 2009. Financial institutions that took the major hit and let a lot of PAs and EAs go have steadily rehired. This trend will continue in 2011.
We expect employers to continue their focus on temporary recruitment, while there is also a trend of recruiting candidates on a temporary basis to trial them in the role before offering a permanent position.
Salaries will increase in 2011 and there will be more demand for quality candidates as the market continues to improve. Candidates will also be looking at what else companies can offer, for example work/life balance, flexibility and bonus structures.
There is and will continue to be a strong demand for Senior Secretaires, particularly with a commercial background, as companies increase headcount. Team Administrators with strong computer skills who are organised and adaptable will also be required.
Executive Assistants are sought by the finance and legal industries, while corporate Receptionists with stable administration experience will be required.
Office Mangers that can take on a range of skills, from stock take to administration, personal assistant duties and overseeing entry-level staff, are also highly sought after.
Companies look for adaptable administrators with strong skill sets who can multitask and support more than one department. Up-skilling your computer package skills and maintaining a stabile career history are important to hiring employers.
OFFICE PROFESSIONALS
Salary Survey 2011 | 47
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are annual and represented in local currencies • Typical benefits include performance based bonuses
Office Professionals
Japan
Singapore
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
2.5 - 5 3 - 5 N/A N/A
20 - 25 25 - 30 30 - 35 35 - 50
N/A 96 - 120 120 - 180 120 - 180
N/A 3 - 4 3 - 5 3 - 5
15 - 20 20 - 22 22 - 30 30 - 35
216 - 300 300 - 384 384 + N/A
4 - 4.5 4 - 5 5 - 8 5 - 8
25 - 35 35 - 45 45 - 60 50 - 60
Legal Support
Banking & Finance Support
Property & Construction Support
Japan
Singapore
Japan
Singapore
4 - 6 4 - 6 4 - 6
30 - 35 35 - 40 40 - 45
4 - 6 4 - 6 4 - 7
30 - 35 35 - 40 40 - 45
Administration
Secretarial
Hong Kong
Japan
Singapore
Hong Kong
Japan
Singapore
120 - 144 180 - 240 N/A 300 - 600 120 - 216
2.5 - 4 3 - 4 4 - 6 5 - 8 4 - 6
25 - 35 35 - 45 45 - 60 60 - 120 30 - 45
120 - 180 144 - 180 180 - 360 240 - 420 420 - 540
3 - 5 3.5 - 6 4 - 7 4 - 7 6 - 9
25 - 30 30 - 40 40 - 50 40 - 60 60 - 80
Admin / Specialists
Reception
Administration Assistant (6-12mths)
Secretary (up to 12mths)
Administration Assistant (12mths+)
Secretary (12mths+)
Project Admin Assistant (3yrs+)
Secretary (3yrs+)
Office Manager
Personal Assistant/ Team Assistant
Project Coordinator
Executive Assistant(for 1 person)
Document Controller
Facilities Administrator
Project Secretary/Administrator
Contracts Administrator (Residential)
Site Secretary/ Administrator
Client Liaison (Residential)
Data Entry Operator
Switchboard Operator
Legal Secretary (up to 2yrs)
Sales Coordinator
Receptionist (up to 12mths)
Legal Secretary (2-4yrs)
Records Officer
Receptionist (12mths+)
Legal Secretary (4yrs+)
Medical Secretary
Receptionist/ Admin Assistant (12mths+)
Legal Personal Assistant
Hong Kong
Japan
Singapore
420 - 800 420 - 800
5 - 7 5 - 7
40 - 70 40 - 70
Investment Banking Personal AssistantSpecialist Finance Personal Assistant
SECTOR OVERVIEW
48 | Salary Survey 2011
“Corporate finance and IPO candidates will be in heavy demand as more listings come onto the Hong Kong stock exchange.”
HONG KONGHong Kong’s legal job market was still quite stagnant in the first quarter, with some sporadic hiring and growth. However in the second and third quarters there was a definite increase in the amount of activity across various sectors.
The market slowed down slightly toward the end of 2010. While this is traditionally a quieter time, it was exacerbated by employers taking longer to present a job offer. Many employers are still opting to take a cautious approach to their hiring after the global financial crisis.
Moving into 2011, there are signs that there will be continued growth and recruitment needs. Firms across the legal spectrum continue to create new roles as their needs increase. Corporate finance and IPO candidates will be in heavy demand as more listings come onto the Hong Kong stock exchange. Strong employment and litigation lawyers are sought as there is a skill shortage in both of these areas.
Generally, salaries have increased between 10 to 15 per cent. This is a consistent rise across international and local firms.
CHINAAlong with the rest of the world, the Chinese legal market suffered from the economic downturn throughout 2009. Despite this, China is in a unique situation as international law firms are still trying to establish new offices in the market. This saw a degree of buoyancy remain in 2010 as firms looked to acquire dissatisfied and under-used partners and lawyers from their competitors. Local firms also opened offices in smaller cities in anticipation of a positive 2011.
Due to the national and international nature of the market, Chinese candidates with international exposure, either gained professionally or academically, are in high demand. Many firms now require trilingual candidates for their roles, particularly for junior positions. Firms are realising that the more senior positions can be filled by ‘star’ candidates. These candidates will not possess all of the language skills but will come from top tier international law firms.
As with the previous year, litigation and arbitration candidates with around 3 years PQE are in demand. There is also an increased need for capital markets lawyers as the international market continues to bounce back. There is still a surplus of candidates and as such, only candidates from high profile firms are progressing to interview stage.
SINGAPOREAs with Hong Kong and China, Singapore’s legal market remains rather cautious as the region continues to climb out of the global recession. The market is still dominated by large local firms and in keeping with the rest of the region, there has been an increase in hiring activity for the litigation departments of these firms and the market as a whole.
As well as a surge in litigation activity, Singapore can still count on its strong pipeline of mining and power projects. Many of the roles focus on the Indonesian and South East Asian markets and, as predicted last year, are at a junior level as firms seek to strengthen depleted teams.
Advice to all legal candidatesDespite an increase in recruitment activity, candidates should remain patient. We advise you to take your time and only select relevant, attractive roles. Once you have selected their roles, be prepared for lengthy recruitment processes as law firms are still being selective.
You should also remain flexible, both in terms of work and location. Law firms are increasingly willing to look at candidates who would consider changing their practice areas given the shortage of lawyers across certain sectors.
LEGAL
Salary Survey 2011 | 49
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Professional Practice Legal
Hong Kong (Internationally Qualified)
Singapore
China
Hong Kong
Japan
Singapore
Hong Kong (Internationally Qualified)
Hong Kong (US Qualified)
Singapore
Hong Kong (Internationally Qualified)
Hong Kong (US Qualified)
Singapore
Hong Kong (Internationally Qualified)
Hong Kong (US Qualified)
Singapore
China
Hong Kong
Japan
Singapore
1,210 + 1,760 + 726 - 1,320
220 - 440 275 - 550 66 - 110
220 - 350 270 - 400 350 - 500 450 - 650
1,100 - 1,400 1,200 - 1,700 1,400 - 1,900 1,450 - 2,200
8 - 9 8.5 - 9.5 9.5 - 10.5 10 - 11
100 - 180 120 - 200 140 - 250 160 - 300
198 - 572 634 - 900
369 - 572 1,072 - 1,320
55 - 71 66 - 110
792 - 1,056 855 - 1,089 924 - 1,155 1,042 - 1,386
1,078 - 1,375 1,158 - 1,430 1,210 - 1,512 1,540 +
77 - 132 88 - 165 99 - 176 110 - 187
1,124 - 1,518 1,478 - 1,993 1,518 - 2,204 1,597 - 2,402
1,716 + N/A N/A N/A
121 - 242 154 - 275 176 - 308 198 - 330
45 - 100 60 - 120 70 - 140 90 - 170 115 - 200
620 - 800 700 - 950 760 - 1,000 870 - 1, 100 950 - 1,200
5.3 - 6.3 5.8 - 6.5 6 - 7 7 - 8 7.5 - 8.5
55 - 80 60 - 100 70 - 120 80 - 140 90 - 160
Salaried Partner (Junior)
Salaried Partner (Senior)
Professional Support Lawyer
5 years PQE
Paralegal
1 year PQE
5 years PQE
6 years PQE
2 years PQE
6 years PQE
7 years PQE
Newly qualified
3 years PQE
7 years PQE
8 years PQE
4 years PQE
8 years PQE
Newly Qualified 1 year PQE 2 years PQE 3 years PQE 4 years PQE
Private Practice
In House
SECTOR OVERVIEW
50 | Salary Survey 2011
“Candidates with direct sales experience and a proven track record in generating revenue will be highly sought after in 2011.”
CHINAChina’s sales and marketing industry started 2010 slowly after many businesses had cut their advertising budgets. In response to the apparent instability of positions within agencies, candidates preferred client-side roles. But by the end of 2010, the market started to pick up. Most agencies now have aggressive expansion plans in place for 2011 after streamlining their operations during the recession.
Luxury brands have continued unabated with their expansion plans, primarily in second and third tier cities. This is expected to continue at the same frenetic pace.
Salary increases in the advertising industry typically averaged between 25 and 40 per cent. Moving forward we expect there to be fierce competition for candidates that were retained during the recession and who have seen their value rise. As such, the industry will continue to experience high staff turnover.
Positions with luxury brands are highly coveted by candidates and as a result these roles often have rather static salary offerings. The hotel industry has a similar inelasticity with regard to salaries since candidate supply exceeds demand. This is expected to continue in 2011.
In advertising, a wide range of skills are in demand. Those with digital expertise are in the highest demand. This is followed by candidates with healthcare advertising expertise given the boom in pharmaceuticals. We also expect a skills shortage of Regional Account Directors to emerge in 2011.
In luxury brands and consumer goods, the demand continues for Boutique Managers and Merchandising Managers. The hotel industry is seeking Sales Directors, Directors of Food and Beverage, Front Office Managers and GMs for new hotels.
If you receive an offer from a competitor, especially in the advertising field, you need to be aware that your new scope of responsibilities will probably be more extensive than it was two years ago. Companies have discarded their pre-recession complacency and are now focusing heavily on productivity.
We advise candidates to have solid, verifiable references that can be checked by potential employers. The job-hopping that was virtually ignored by employers prior to the recession is now questioned far more thoroughly.
HONG KONGThe market slowly recovered throughout 2010 and the signs are relatively encouraging for 2011. The financial services sector was the first to recover and momentum in this sector is now strong, with a focus on CRM and online marketing. Within insurance, those candidates with experience in rebranding, investor relations and IPO projects have been in particular demand.
We expect steady growth in 2011, with sourcing, digital marketing and consumer analytics the key areas to watch.
Steady salary growth is expected in 2011 as the market rebounds and becomes candidate short. In our post-global financial crisis market, candidates are not as willing to change employers; they want to repay the loyalty shown to them by their employers. This is a direct contract to past trends, where candidates would not have hesitated to move for a 10 to 15 per cent salary increase. Today however candidates are more likely to base their decision on the company, financial security and long-term opportunities.
Demand will rise for online technical candidates, including data specialists, graphic designers, CRM specialists and online marketing experts. Consumer analytics is also expected to experience growing demand as companies focus on researching consumers before major campaigns and take action to review the result afterwards.
If you are looking for a new role, we advise you to research opportunities carefully and ensure that your resume clearly defines all your relevant and significant achievements.
JAPANThe economy is slowly improving so businesses want to fully benefit from any increase in spending. Therefore sales and marketing hiring continues to gradually increase, although the process is slower than before the global financial crisis. Employers are now putting extra resources into finding and hiring candidates and this trend will continue throughout 2011.
There has been little movement in salaries, with some increasing by 5 to 10 per cent, and others dropping by 5 to 10 per cent. It will be a similar situation in 2011 as costs continue to be very carefully managed.
Having said this, the best candidates are starting to receive multiple offers, and consequently employers will need to become more competitive if they are to secure the top talent.
Candidates with direct sales experience and a proven track record in generating revenue will be highly sought after in 2011. A limited number of marketing roles are also starting to become available after two years, but the requirements are very high, with a strong preference on bilingual communication skills.
There is also more demand for senior Japanese salespeople who have 15 to 20 plus years of experience. The preference here is for professionals with limited job changes and bilingual communication skills.
Improve your English skills wherever possible. Be patient and flexible throughout the process and give as much availability as possible for interviewing and meeting your recruiter. Also, make sure to be very well prepared – study the company and job specifications as much as possible.
SINGAPOREThe idea of designed in the West and built in the East is being challenged as the self-sufficient Asian markets parade strong domestic demand, intellectual knowledge and human capital wealth. The ‘smart global executive’ has recognised that while every global market stopped simultaneously in 2008, the same cannot be said for the recovery. South East Asia and the greater APAC region have responded strongly with corporations placing significant importance on securing the right talent for their executive ranks.
With a pool of executives wishing to reposition themselves internally or with a new employer, the corporations hold the balance of power. As a result salaries have remained fairly static with only slight increases on occasion. This conservative environment is expected to continue throughout 2011.
The demand for specific talent will continue across all vertical markets. In 2010 demand was highest for junior sales and marketing executives, with front line sales executives gaining the most attention as corporations sought to reclaim market share.
In 2011 we expect the next wave of investment to focus on the $200,000 to $400,000 salary bracket, as much needed people management professionals are reinstated. Towards the end of 2011 we expect to see demand rise in the Regional and General Management market of $400,000 plus.
We advise candidates to be patient. Firms are highly specific in their requirements and committed to ensuring the success of their new hires.
SALES & MARKETING
Salary Survey 2011 | 51
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are represented in local currencies * With bonus
Sales & Marketing
Salary Survey 2011 | 51
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
Japan
Singapore
500 - 700 N/A 120 - 200 1,000 - 1,300
800 - 1,200 N/A 280 - 500 1,000 - 1,400
10 - 15 N/A N/A 15 - 40
180 - 300 100 - 200 45 - 80 300 - 450
220 - 300 200 - 330 N/A 200 - 270
400 - 600 480 - 650 N/A 300 - 550
6 - 9 N/A N/A 6 - 8
75 - 140 80 - 140 150 - 200 90 - 180
500 - 650 300 - 450 200 - 250 250 - 350
520 - 800 380 - 600 260 - 400 300 - 500
N/A 10 - 15 6 - 9 5 - 14
1,200 - 2,000 350 - 450 100 - 200 240 - 480
1,000 - 1,800 500 - 700 450 - 700 450 - 700
14 - 20 6 - 9 8 - 9 6 - 14
200 - 350 N/A 90 - 180 75 - 180
220 - 320 240 - 440 N/A N/A
480 - 800 400 - 700 N/A N/A
7 - 10 7 - 10 N/A N/A
90 - 180 80 - 150 90 - 160 80 - 160
330 - 450 250 - 400 220 - 350 N/A 150 - 220
450 - 700 350 - 450 350 - 500 N/A 360 - 480
5 - 7 5 - 8 6 - 9 N/A N/A
90 - 120 90 - 120 N/A 125 - 220 80 - 150
N/A N/A N/A N/A 4 - 8
200 - 500* 130 - 280* 100 - 250* 200 - 380* 90 - 140*
Marketing Director
Direct Marketing Manager
Group Account Director
National Sales Director
Marketing Communications Manager
Marketing Manager
Channel Manager
Account Director
Sales Operations Manager
Public Relations/ Communications Manager
Marketing Executive
Global Brand Manager
Account Manager
Sales Manager
Internal Communications
Country Manager
Product/ Brand Manager
Advertising Account Manager
Business Development Manager
Corporate Communications
Merchandising Manager
Regional Sales Director
Visual Merchandising Manager
Regional Sales Manager
Service Delivery Manager
Regional Sales Executive
Category Manager
Global Sales Executive
Customer ServiceManager
Sales Executive
Marketing
Advertising
Sales
Communications
Retail
SECTOR OVERVIEW
52 | Salary Survey 2011
“Employers will need to factor in inflationary pressure and increased candidate expectations when budgeting for new hires in 2011.”
SINGAPOREThe hiring of supply chain professionals gathered pace in 2010 following the sharp rebound in the global economy. In the second half of the year companies were filling key positions to ensure quality delivery of products and services. In most cases, companies were recruiting for regional roles responsible for supply chain planning and decision-making leveraging on Singapore’s position as a regional logistics and distribution hub.
With Singapore’s excellent infrastructure and investor-friendly government initiatives, the sector is expected to expand next year. New jobs will be created as more companies invest in manufacturing and logistics activities.
At the end of 2010 Singapore’s unemployment rate was 2.1 per cent so the labour market will remain tight in 2011. As a result upward pressure on wages will persist. Candidates in current roles are commonly requesting increases of 15 to 20 per cent on base salaries before considering a change in jobs. Employers will need to factor in inflationary pressure and increased candidate expectations when budgeting for new hires in 2011.
Demand will be high for experienced supply chain professionals in the pharmaceutical, aviation, oil and gas and petrochemical industries as these sectors gain momentum with the ongoing developments of the Tuas Biomedical Park, Seletar Aerospace Park and Jurong Island (phase 2).
Procurement professionals in oil and gas, heavy industrial and FMCG sectors will also be sought.
Candidates are advised to moderate salary expectations in 2011 due to the uncertain economic outlook and recovery in the EU and US. In particular, hiring activity in the oil and gas, pharmaceutical and industrial sectors is expected to remain high throughout 2011.
SUPPLY CHAIN
Supply Chain
Warehouse / Distribution
Transport
Supply Chain
Japan
Singapore
Japan
Singapore
N/A 4.5 - 6 4.5 - 7 N/A
75 - 90 24 - 30 30 - 48 18 - 30
12 - 15 8 - 12 4.5 - 7 N/A
60 - 80 60 - 80 24 - 36 75 - 90
Contract/ Account Manager
Operations Manager
Warehouse Coordinator
Transport Manager
Stock/ Inventory Controller
Import/ Export Clerk
Storeperson
Contract/ Account Manager
Japan
Singapore
4.5 - 6 N/A N/A
36 - 60 48 - 60 36 - 60
Japan
Singapore
Japan
Singapore
5 - 7 9 - 15 6 - 8 6 - 10 15 - 20
48 - 72 60 - 90 36 - 60 36 - 54 180 - 240
12 - 15 8 - 12 8 - 10 5 - 7 6 - 8
60 - 80 60 - 80 60 - 80 36 - 48 40 - 60
Supply Chain Analyst
Operations Manager
Supply Chain Manager
Distribution Manager
Supply Chain Planner
Transport Manager
Demand Planner
Warehouse Supervisor
Supply Chain Director
Warehouse Manager
Transport Coordinator Fleet Manager Fleet Controller
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are represented in local currencies
SECTOR OVERVIEW
Salary Survey 2011 | 53
“As a result of growth in the higher education and early years sectors, employers are taking steps to retain existing staff as well as attract qualified teachers.”
China2010 was a good year for China’s education market. The higher education sector in particular experienced strong growth as Chinese students continued to seek further education with universities abroad which has carried on creating a high demand for pre- university centres offering a western style curriculum.
We expect this trend to continue in 2011. But growth will not be focused within the higher education sector alone. The early years sector is also expected to grow in 2011, with more private education providers opening either on their own or as part of a joint venture with existing Chinese schools and universities. This will be noted in both 1st and 2nd tier cities.
The expansion of China’s education sector has created a demand for school leaders as well as qualified teachers in the most popular subjects of mathematics and science. Curriculum advisors are also required.
Employers are also looking for professors in response to Hong Kong’s higher education undergraduate degree lengthening from three to four years as of 2012.
As a result of growth in the higher education and early years sectors, employers are taking steps to retain existing staff as well as attract qualified teachers. Consequently some employers are offering salary increases of up to 10 per cent.
China’s popularity is increasing within the international talent pool. A growing number of teachers now believe they can make a good life in China. These teachers are aware that their career can continue to develop and no longer consider a role in China as a short-term option for solely one to two years. We do however strongly advise any teacher without a teaching qualification who is looking for a position in China’s secondary education sector to become qualified.
EDUCATION
Education
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the base salary only • Salaries are represented in local currencies
Early Years
Secondary
Primary
China
China
China
China
236 - 464 236 - 464 278 - 434
130 - 465 130 - 465 150 - 465
236 - 700 200 - 600 130 - 550
130 - 550 250 - 1,500 130 - 550
China 236 - 495 200 - 465 130 - 465 130 - 465
Manager/ Head Teacher Deputy Early Years Teacher
Literacy (English) Coordinator
Numeracy (Maths) Coordinator SEN Coordinator
Head Teacher Deputy Head Teacher Head of Year
Subject Specialists Bursar & Bursar/ Business Director SEN Coordinator
Head Teacher Deputy Head Teacher Key Stage 1 Coordinator
Key Stage 2 Coordinator
54 | Salary Survey 2011
“Expatriate packages are becoming a thing of the past for certain employers that look for local talent to fit in with their tendering budget.”
SECTOR OVERVIEW
HONG KONG & CHINAOver the past year the construction industry has built momentum and is now close to the levels of 2006/2007. This is driven mainly by major infrastructure projects, for which construction teams are due to peak in 2011. Given increased investment on old and new developments in China, there has been a substantial increase in the number of projects coming online. This is most notable within retail (both shopping malls and luxury interiors), hospitality, large-scale mixed-use and corporate interiors.
As other parts of the globe still struggle with their economic recovery, many companies see Asia and particularly China as an area for growth and expansion. Consequently, as a general rule candidates who have strong exposure and understanding of the China market are highly sort after.
The demand for specialist infrastructure construction and engineering professionals within tunnelling, planning and geology is high as more infrastructure projects begin the early stages of construction.
Engineers and Project Managers with exposure to retail in China or Hong Kong are highly sought after at all levels. Project Directors and Project Managers with experience completing large mixed-use developments in China and with the necessary language skills to work directly with the client are constantly in demand.
Salaries began to level in 2010. In areas where demand is high there have been increases of between 5 to 15 per cent.
After the economic downturn employers became more stringent in their recruitment practices and are only taking on candidates who have all necessary requirements. Language and specific geographical experience are key factors in most instances. Consequently there are few job opportunities for expatriates. However this trend is likely to change in 2011 as projects become critical and skill shortages intensify.
If you plan to explore your options in 2011, ensure you are moving for the right reason, not just monetary. Look at the long-term opportunities. If you switch employers frequently you are likely to find it more difficult to secure your desired job and a pay increase in future.
SINGAPOREWhile building construction has steadied, civil infrastructure, in particular Singapore MRT (Rail) projects, has become the driver of Singapore’s construction market. Projects funded by the government will continue for years to come and so it is a hot sector in Singapore, although neighbouring Asian markets are competing for talent.
Demand is constant for infrastructure, rail and tunnelling professionals. This exists at both the commercial and construction levels. The main focus of employers continues to be Estimators, Station Managers, Tunnel Managers and C&S Design Engineers.
A steady demand for candidates means an increase to salaries and bonuses. Expatriate packages are becoming a thing of the past for certain employers that look for local talent to fit in with their tendering budget. It’s common for end clients to award primarily on the cheapest price, which means overheads are reduced. This has a knock-on effect on output.
Employers are increasingly willing to negotiate for certain roles. Some employers are also starting to realise that candidates are continuing to relocate, and that this will leave a gap in the market. Employers will need to reassess what they can offer candidates to attract them when this gap widens.
Candidates should look at the bigger picture and consider career advancement opportunities and internal transfers, since an internal transfer is a realistic opportunity. Overall, our advice is that it is important to move for the right reasons.
CONSTRUCTION
Salary Survey 2011 | 55
Notes• Typical salary range in ‘000 • Salaries are representative of the total package value • Salaries are represented in local currencies
Construction
China
Hong Kong
Singapore
N/A 120 - 144 360 - 480
400 - 840 240 - 360 420 - 840
80 - 95 40 - 55 60 - 75
Construction Civil
Construction Building
Construction Development
China
Hong Kong
Singapore
China
Hong Kong
Singapore
N/A N/A 144 - 180 N/A 325 - 390
N/A 360 - 480 480 - 600 650 - 1,000 640 - 1,000
48 - 75 45 - 60 55 - 80 85 + 80 - 110
360 - 520 180 - 240 N/A N/A N/A
1,000 - 1,200 720 + N/A 480 - 1,000 480 - 1,000
105 - 155 90 - 140 50 - 65 75 - 96 70 - 100
China
Hong Kong
Singapore
China
Hong Kong
Singapore
China
Hong Kong
Singapore
China
Hong Kong
Singapore
120 - 144 360 - 480
240 - 360 400 - 840
40 - 45 66 - 85
N/A N/A 144 - 180 N/A
N/A 300 - 420 480 - 540 600 - 950
48 - 75 45 - 60 65 - 85 85 +
325 - 390 360 - 520 180 - 240 N/A
600 - 840 840 - 1,000 640 - 1,200 480 - 840
75 - 100 100 + 90 - 135 72 - 111
390 - 520 390 - 480 360 - 420 480 +
640 - 1,100 600 - 1,000 540 - 840 1,100 +
120 - 180 95 - 140 115 - 160 195 +
Foreperson Site Engineer Project Engineer
Design Manager
Project Manager
Senior ProjectManager
ConstructionManager
Resident Technical Officer Planner Estimator
Contracts Administrator/ Quantity Surveyor - Senior
Contracts Administrator/ Quantity Surveyor - Entry-level
Estimator Contracts Administrator/ Quantity Surveyor - Entry-level
Contracts Administrator/ Quantity Surveyor - Senior
Foreperson Site Engineer Project Engineer Design Manager
Project Manager Senior ProjectManager
ConstructionManager Planner
Development Manager Project Manager Business Development
Manager Development Director
56 | Salary Survey 2011
Notes• Typical salary range in ‘000 • Salaries are representative of the total package value • Salaries are represented in local currencies
Engineering
Design Consultancy - Building Services
Design Consultancy - Civil & Structural
China
Hong Kong
Singapore
China
Hong Kong
Singapore
China
Hong Kong
Singapore
China
Hong Kong
Singapore
N/A 168 - 192 N/A 168 - 216 240 +
240 - 420 360 - 540 200 - 280 300 - 480 444 - 600
30 - 42 42 - 60 30 - 36 48 - 72 72 - 96
N/A 168 - 192 N/A 168 - 216 240 +
240 - 420 360 - 540 200 - 280 300 - 480 444 - 600
30 - 42 42 - 60 30 - 36 48 - 72 72 - 96
336 - 384 360 - 420 360 - 420 420 - 480 N/A
504 - 720 420 - 840 660 - 960 960 + 420 - 660
96 + 72 - 96 96 - 120 120 + 78 - 96
336 - 384 360 - 420 360 - 420 420 - 480 N/A
600 - 840 480 - 900 720 - 960 960 + 420 - 660
102 + 84 - 102 96 - 120 120 + 78 - 96
CAD Design Drafter CAD Manager Graduate Design
Engineer Design Engineer Senior Design Engineer
Principal Design Engineer Project Manager Associate/ Senior
AssociatePrincipal/ Director
Resident Engineer
CAD Design Drafter CAD Manager Graduate/
Design Engineer Design Engineer Senior Design Engineer
Principal Design Engineer Project Manager Associate/ Senior
AssociatePrincipal/ Director
Resident Engineer
SECTOR OVERVIEW
Salary Survey 2011 | 57
“Companies regained confidence in their inflow of projects and hence were proactive in their recruitment activities.”
ARCHITECTURE
CHINAThe market picked up significantly in 2010 and by the end of the year there was relative stability in hiring activity. 2011 will be another auspicious year with an abundance of projects coming in from China’s urbanisation policies and economic growth.
Candidates at the upper-middle and senior level have been requesting increases of 25 per cent when moving from one company to another. Candidates at the junior to middle level, with 5 to 10 years of work experience have even higher expectations, starting at 35 per cent and extending to above 75 per cent. While this is explained by several factors, including the sharp rise in property prices in Shanghai, it has alarmed employers who are also having trouble retaining staff. Supply is not keeping up with demand and candidates are making the most of their opportunities.
In keeping with the general nature of projects in China, architectural candidates experienced with high-rise buildings and large-scale mixed-use projects are in high demand. In both architecture and interior design, there is a wealth of office and retail projects.
The hotel industry is also booming, with grand plans from hotel developers. This has created great demand for designers with hospitality experience.
Make sure your portfolios clearly show your design experience. This means including examples of your individual contributions to projects, for example working drawings rather than renderings.
Despite demand outstripping supply, employers are still cautious about hiring. Those candidates with 5 to 10 years experience may want to be careful about pricing themselves out of the market – some of the best firms are conservative about salaries but offer the best training and potential for skills development.
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Architecture
China
Hong Kong
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
120 - 300 300 - 500 500 - 720
270 - 390 390 - 660 660 - 960
50 - 62 65 - 85 72 - 96
40 - 80 60 - 150 150 - 450 550 - 720 700 - 850
240 - 320 320 - 440 440 - 680 680 - 1,080 1,080 - 1,800
3 - 5 3 - 6 6 - 9 9 - 12 12 - 16
30 + 35 - 55 72 - 96 100 120 +
36 - 60 40 - 110 120 - 300 280 - 400 290 - 490
180 - 265 265 - 420 420 - 500 580 - 780 420 - 660
2 - 3 3 - 5 5 - 7 7 - 9 N/A
28 + 40 - 48 60 - 84 72 - 96 50 - 75
360 - 700 60 - 150 72 - 200 180 - 360 480 - 660
780 + 200 - 380 270 - 390 390 - 780 780 +
9 - 11 2.5 - 5 N/A N/A N/A
120 + 30 - 42 45 - 55 62 - 80 120 +
ArchitectureGraduate Architect
Architect (2-5yrs)
Architect (5-10yrs)
Associate/ Senior Associate
Principal/ Director
Graduate Interior Designer
Interior Designer (2-5yrs)
Interior Designer (5-10yrs)
Senior Interior Designer Project Manager
Design Director CAD DrafterLandscape Architect (2-5yrs)
Landscape Architect (5-10yrs)
Director Of Landscape
Urban Designer (2-5yrs)
Urban Designer (5-10yrs) Principal Urban Designer
SECTOR OVERVIEW
58 | Salary Survey 2011
“The market will continue to stabilise over the next year and there is likely to be increased investment from overseas. This will help create more opportunities across the region.”
HONG KONG & CHINAThe property market steadily picked up throughout 2010 and is now returning to the hiring levels of 2006.
As a result of China’s strong economy, many second and third tier cities are looking to grow and improve their infrastructure. People with solid China experience in the property arena are a hot commodity.
There are also many multinational companies undergoing expansion, so corporate fit-out projects will continue to generate demand in this sector. There has also been an increase in hotel and retail led projects as developers and operators push for market share within the region.
Corporate real estate professionals are in demand across the board. Senior level candidates from property management leasing and investment who have had exposure to retail and hotel developments in China are highly sought after.
With the economy on the rebound we have seen a slight increase in salaries over the last 12 months. On average, these increases have been between 5 and 10 per cent. With economic conditions continuing to improve further increases are likely, particularly in areas of high demand.
JAPANIn Japan, the property market finally started moving forward with investment and hiring really picking up mid-2010. Unfortunately this hasn’t equated to a rise in salaries, with most companies still working to a restricted budget. However given the volume of roles starting to come through, this is likely to change in 2011.
Candidates are no longer in fear of losing their jobs and are open to moving for a better opportunity. The top talent will receive multiple offers and competitive counter offers from their current employers.
There has been a sharp spike in demand for Acquisition and Asset Managers. There has also been a number of foreign real estate investment companies launch offices in Japan.
This is the best the market has been for three years, so if you are considering a move now is definitely the right time.
SINGAPOREThere were fluctuations in the property market in 2010. The first quarter provided some hope that we were officially out of recession and there were a number of positions created at the junior level. Unfortunately the sector could not prolong the optimism in the second and initial part of the third quarter, and there was dip in hiring. Business did however return to normal in late 2010, which prompted several companies to begin expansion plans and new companies to set up their base in Singapore.
The market will continue to stabilise over the next year and there is likely to be increased investment from overseas. This will help create more opportunities across the region.
While there wasn’t much hiring in 2010, there were salary increases of between 10 and 20 per cent for those positions that were open. Employers were reluctant to release well performing employees, and many attempted to retain staff with a counter offer of a higher salary.
Salary ranges will be fairly similar in 2011.
Project management candidates with experience in the commercial interior fit-out space are highly sought after. There will also be huge demand within the hospitality space.
PROPERTY
Salary Survey 2011 | 59
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Property
China
Hong Kong
Japan
Singapore
China
Hong Kong
China
Hong Kong
Singapore
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
350 + 500 + 750 + 800 +
240 - 380 400 - 770 750 - 1,100 1,200 - 2,200
9 - 12 12 - 15 15 - 16 16 - 20
60 - 72 72 - 108 96 - 140 144 +
600 + 600 + 700 + 900 +
300 - 500 500 - 800 850 - 1,100 1,200 +
240 + 360 + 660 + 750 + 800 +
200 - 300 300 - 500 500 - 1,000 900 - 1,300 1,300 - 1,800
30 - 40 40 - 72 72 - 90 100 + N/A
280 + 450 + 250 + 380 + 450 +
470 - 750 750 + 180 - 290 300 - 600 550 - 900
N/A N/A 6 - 9 8 - 14 14 - 17
60 - 84 84 + 48 - 60 66 - 108 120 +
500 + 150 + 280 + 450 + 700 +
900 + 180 - 300 300 - 550 470 - 750 750 - 1,100
N/A 5 - 8 8 - 14 14 - 20 20 +
144 + 36 - 48 60 - 84 84 - 108 108 +
PropertyManager (2-5yrs)
Manager(5-10yrs) Senior Manager Head Property
Management GM Property Management
Centre Manager - Retail (5-10yrs)
Centre Manager - Retail (10+yrs)
Facilities Manager - soft services (2-5yrs)
Facilities Manager - soft services (5-10yrs)
Facilities Manager - soft services (10+yrs)
Facilities Director (10+yrs)
Leasing Manager (2-5yrs)
Leasing Manager (5-10yrs)
Senior Leasing Manager Leasing Director
Asset Manager(2-5yrs)
Asset Manager(5-10yrs) Senior Asset Manager Asset Management
Director/ Head
Property Investment Analyst
Property Investment Manager
Property Investment Associate
Property Investment Director
60 | Salary Survey 2011
Notes• Typical salary range in ‘000 (excluding Japan which is stated in millions) • Salaries are representative of the total package value • Salaries are represented in local currencies
Property
China
Hong Kong
Japan
Singapore
300 + 450 + 500 + 700 + 780 +
144 - 360 420 - 600 600 - 960 960 - 1,200 1,200
5 - 7.5 7.5 - 10.5 11 - 16 14 - 20 20 - 22
36 - 60 60 - 84 72 - 108 108 - 150 160 +
Property
Property - Client Side
China
Hong Kong
Japan
Singapore
China
Hong Kong
Japan
Singapore
300 + 450 + 700 + 900 +
260 - 390 400 - 800 750 - 1,000 1,000 +
8 - 10 10 - 15 15 - 20 20 +
N/A N/A N/A N/A
240 + 350 + 400 + 700 +
240 - 360 400 - 650 650 - 1,050 1,000 +
4 - 6 6 - 9 9 - 11 N/A
45 - 60 60 - 84 84 - 120 144 +
Acquisitions Surveyor/ Manager (2-5yrs)
Acquisitions Surveyor/ Manager (5-10yrs)
Senior Acquisitions Surveyor/ Manager Acquisitions Director
Quantity Surveyor - Unqualified (2-5yrs)
Quantity Surveyor - Qualified (5-10yrs)
Senior Quantity Surveyor - Qualified
Quantity Surveyor - Qualified Director
Project Coordinator
Assistant Project Manager Project Manager Senior
Project Manager Projects Director
SECTOR OVERVIEW
Salary Survey 2011 | 61
“With demand increasing, employers are willing to offer higher salaries as well as better packages to attract and retain good candidates.”
CHINAWith the support of several Government-initiated projects, more and more companies are strengthening their presence in the Chinese market. Almost one third of employers successfully completed their hiring needs in 2010 with many even adding 10 per cent more headcount. The employment market was more active than the previous year and even involved some executive level hires.
With demand increasing, employers are willing to offer higher salaries as well as better packages to attract and retain good candidates. The salary increment for each new hire is also higher than 2009. The typical range will be between 25 and 30 per cent higher in 2011.
China is gradually moving from low-cost to high-quality manufacturing, so candidates with state-of-the-art operation knowledge and management skills are highly sought after. Lean and Six Sigma tools are now applied by more and more industries in China.
There are many large-scale plants moving from tier one cities to tier two and three cities. Candidates may need to be more flexible about the working location.
MANUFACTURING & OPERATIONS
Logistics Manufacturing & Operations
Notes• Typical salary range in ‘000 • Salaries are representative of the total package value • Salaries are represented in local currencies
Shipping
3PL
Logistics (Forwarder)
Management roles
China 800 - 1,500 1,000 - 2,000 1,000 - 2,000 1,000 - 2,000
China
China
China
40 - 60 60 - 100 100 - 250 250 - 500 500 - 1,000
45 - 80 80 - 150 150 - 300 300 - 600 600 - 1,500
20 - 50 50 - 100 100 - 250 250 - 500 500 - 1,000
GM CTO COO CEO
Coordinator Supervisor Manager Director Vice President
Engineer Supervisor Manager Director Vice President
Engineer Supervisor Manager Director Vice President
62 | Salary Survey 2011
Notes• Typical salary range in ‘000 • Salaries are representative of the total package value • Salaries are represented in local currencies
Manufacturing & Operations Automobile
China
China
90 - 135 135 - 180 180 - 375 375 - 750
80 - 135 135 - 225 225 - 375 375 - 800
China
China
China
China
90 - 120 120 - 225 225 - 450 450 - 900 900 - 2,000
90 - 150 150 - 225 225 - 450 450 - 900 900 - 2,000
90 - 180 180 - 270 270 - 450 450 -1,000 1,000 - 2,000
90 - 150 150 - 225 225 - 375 375 - 900 900 - 1,500
China 750 - 1,000 900 - 1,200 1,000 - 2,000
ProductionEngineer Supervisor Manager Director Vice President
EngineeringEngineer Supervisor Manager Director Vice President
R&DEngineer Supervisor Manager Director Vice President
Sourcing & PurchasingEngineer Supervisor Manager Director Vice President
Management roles
Supply Chain
GM COO CEO
Engineer Supervisor Manager Director
QualityEngineer Supervisor Manager Director
Salary Survey 2011 | 63
High-Tech Manufacturing & Operations
Notes• Typical salary range in ‘000 • Salaries are representative of the total package value • Salaries are represented in local currencies
China
China
China
60 - 130 130 - 180 180 - 320 320 - 700
80 - 150 150 - 200 200 - 350 350 - 800
800 - 1,500 1,000 - 2,000 1,500 - 2,500 2,000 - 5,000
China
China
China
China
80 - 150 150 - 200 200 - 350 350 - 800 800 - 1,500
90 - 160 160 - 220 220 - 380 380 - 800 800 - 1,500
100 - 160 160 - 240 240 - 400 400 - 1,000 1,000 - 1,800
60 - 130 130 - 180 180 - 350 350 - 800 800 - 1,200
ProductionEngineer Supervisor Manager Director Vice President
EngineeringEngineer Supervisor Manager Director Vice President
R&DEngineer Supervisor Manager Director Vice President
ProcurementEngineer Supervisor Manager Director Vice President
PlanningEngineer Supervisor Manager Director
Quality
Management roles
Engineer Supervisor Manager Director
GM CTO COO CEO
64 | Salary Survey 2011
Notes• Typical salary range in ‘000 • Salaries are representative of the total package value • Salaries are represented in local currencies
Manufacturing & Operations Heavy Industry
China
China
China
China
China
36 - 120 84 - 144 180 - 480 360 - 800 800 - 1,500
36 - 120 84 - 144 180 - 480 300 - 540 480 - 800
36 - 120 84 - 144 180 - 480 300 - 600 480 - 800
48 - 150 96 - 216 240 - 600 420 - 800 800 - 1,200
36 - 120 84 - 144 216 - 760 300 - 800 600 - 1,500
China 600 - 800 700 - 1,200 1,000 - 2,000
ProductionEngineer Supervisor Manager Director Vice President
EngineeringEngineer Supervisor Manager Senior Manager Director
R&DEngineer Supervisor Manager Senior Manager Director
Sourcing
Quality
Engineer
Engineer
Supervisor
Supervisor
Manager
Manager
Director
Senior Manager
Vice President
Director
Management rolesOperation Manager GM CEO
Salary Survey 2011 | 65
Notes• Typical salary range in ‘000 • Salaries are representative of the total package value • Salaries are represented in local currencies
Manufacturing & Operations
China
China
China
China
1,000 - 1,800 1,200 - 2,500 1,500 - 2,300 1,500 - 2,500
90 - 125 135 - 200 180 - 400 450 - 700
80 - 120 135 - 240 225 - 500 455 - 1,000
1,000 - 1,800 1,500 - 2,000
China
China
China
China
China
China
50 - 70 90 - 120 180 - 250 350 - 600 800 - 1,200
90 - 200 90 - 200 200 - 500 450 - 800 900 - 2,000
60 - 100 100 - 200 200 - 450 400 - 800 800 - 1,800
120 - 200 150 - 250 225 - 500 500 - 1,000 900 - 2,000
25 - 60 60 - 100 100 - 250 250 - 500 500 - 1,000
60 - 150 150 - 225 225 - 400 500 - 900 900 - 1,800
Operation / Production
Production
Coordinator
Engineer
Supervisor
Supervisor
Manager
Manager
Director
Director
Vice President
Vice President
Sourcing
Engineering
Engineer
Engineer
Supervisor
Supervisor
Manager
Manager
Director
Director
Vice President
Vice President
R&D
Sourcing & Purchasing
Engineer
Engineer
Supervisor
Supervisor
Manager
Manager
Director
Director
Vice President
Vice President
Management roles
Supply Chain
Quality
Management roles
GM
Engineer
Engineer
GM
CTO
Supervisor
Supervisor
COO
Manager
Manager
COO
CEO
Director
Director
Automation
Aviation
SECTOR OVERVIEW
66 | Salary Survey 2011
“A boom is predicted in 2012 as the oil price is expected to reach the heights of four to five years ago. Therefore it is likely to be a very strong year.”
CHINAWith ongoing exploration programs both onshore and offshore combined with new projects being developed, the oil and gas job sector is primed for growth in 2011.
China will benefit from major work in the region with projects such as Gorgon being earmarked for design and fabrication here. The large EPCM companies are increasing their utilisation of China as an outsourcing engineering design centre particularly for projects in the Middle East, Africa and Central Asia.
The Chinese shipyards continue to position themselves to take on the Korean and Singaporean yards and have had recent success with the award of two jack-ups to be completed in Dalian. Successfully completing this type of project for global drilling companies will reassure the international market that China can match the quality of its regional competitors.
The established majors are all actively exploring with a particular focus on onshore reserves in Central China. International players that are new to China are exploring the South China Sea following up on some major recent finds in the region.
Demand for skilled Chinese workers internationally is increasing as companies identify China as a talent pool of educated and skilled workers who have experience working for International companies and English language skills.
This growth has led to an increased demand for talent and companies continue to look locally rather than bring in expats. With this increased demand comes the subsequent increase in salaries. This is also heavily influenced by the high salaries that are being offered to Chinese candidates to relocate overseas. While the salaries in China don’t match those being offered in places like Singapore, they are not too far behind and steadily increasing.
The key attribute for all Chinese candidates to attract larger offers from international companies is good communication skills in English. There is a large talent pool of candidates working for national companies who limit their options because of a lack of English.
SINGAPOREThe oil and gas industry remained reasonably steady in 2010 compared to many other regions which are still suffering after the global financial crisis. A boom is predicted in 2012 as the oil price is expected to reach the heights of four to five years ago. Therefore it is likely to be a very strong year. This applies to the South East Asian region with Malaysia, Indonesia, Thailand and Vietnam all expected to experience growth in 2011.
While vessel activity remained low during the last quarter of 2010 and the first quarter of 2011, it will boom mid way through the year as will the shipyards with renewed orders to undertake after the first quarter. ROV operations will also pick up.
There has been a steady increase of local companies looking to repatriate personnel back to Singapore. This does not seem to have affected expat packages as salaries and benefits remain strong and only look set to increase in 2011.
Subsea controls and pipeline engineering personnel remain difficult to find with the number of subsea and deepwater operations still steadily increasing worldwide. ROV personnel will be in demand come the end of the first quarter with a renewed focus on operations.
Senior project controls and drilling/exploration personnel will remain in demand especially towards the third quarter of 2011 onwards as companies start to readily recruit for the up-coming boom in 2012.
Local salaries remain steady although as the market continues to soar it is predicted that there will be a steady increase in salaries and benefits as companies again start to compete for qualified personnel.
OIL & GAS
Salary Survey 2011 | 67
Notes• Typical salary range in ‘000 • Salaries are represented in local currencies
Operations & Production Oil & Gas
Geologist
Petrophysicist
Reservoir Engineer
Petroleum Engineer
Well delivery
Drilling Supervisor
Production Management
Logistics
QAQC
Maintenance
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
50 - 100 200 - 300 300 - 500 700 +
100 120 - 150 160 - 200 200 - 250
50 - 100 200 - 300 300 - 500 600 +
100 120 - 150 160 - 200 200 - 250
50 - 100 200 - 300 300 - 500 600 +
100 120 - 150 160 - 200 200 - 250
50 - 100 200 - 350 350 - 500 500 +
100 120 - 150 160 - 200 200 - 250
50 - 100 150 - 250 250 - 450 450 +
100 120 - 150 160 - 200 200 - 250
100 - 200 200 - 400 400 - 600 600 +
100 120 - 150 160 - 200 200 - 250
50 - 100 200 - 400 400 - 500 500 +
60 80 - 100 110 - 130 140 - 180
50 - 100 100 - 200 200 - 300 300 +
60 80 - 120 140 - 160 170 - 190
50 - 100 200 - 300 300 - 400 500 +
60 - 80 90 - 110 120 - 130 140 - 160
50 - 100 200 - 300 300 - 400 500 +
60 - 80 90 - 110 120 - 130 140 - 160
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Manager
68 | Salary Survey 2011
Oil & Gas Project Development
Notes• Typical salary range in ‘000 • Salaries are represented in local currencies
Project Manager
Project Engineer
Contracts Engineer
Commercial Manager
Commissioning Engineer
Business Development
Project Controls Manager
Estimator
Planner
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
China
Singapore
50 - 100 200 - 400 400 - 600 600 +
120 - 140 150 - 180 190 - 220 240 - 260
50 - 100 200 - 300 300 - 400 500 +
120 - 140 150 - 180 190 - 220 240 - 260
50 - 100 200 - 300 300 - 400 500 +
120 - 140 150 - 180 190 - 220 240 - 260
50 - 100 200 - 400 400 - 600 600 +
120 - 140 150 - 180 190 - 220 240 - 260
50 - 100 200 - 400 400 - 600 600 +
120 - 140 150 - 180 190 - 210 200
50 - 100 200 - 400 400 - 600 600 +
120 - 140 150 - 180 190 - 220 240 - 260
50 - 100 200 - 400 400 - 600 600 +
120 - 140 150 - 180 190 - 220 240 - 260
50 - 100 200 - 300 300 - 400 500 +
100 - 120 140 - 160 170 - 190 200 - 250
50 - 100 200 - 300 300 - 400 500 +
100 - 120 140 - 160 170 - 190 200 - 250
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Salary Survey 2011 | 69
Project Development Oil & Gas
Notes• Typical salary range in ‘000 • Salaries are represented in local currencies
Procurement
Cost Engineer
Bid Manager
China
Singapore
China
Singapore
Singapore
50 - 100 200 - 300 300 - 400 500 +
100 - 120 140 - 160 170 - 190 200 - 250
50 - 100 200 - 300 300 - 400 500 +
100 - 120 140 - 160 170 - 190 200 - 250
100 - 120 140 - 160 170 - 190 200 - 250
Graduate
Graduate
Graduate
Senior
Senior
Senior
Lead
Lead
Lead
Manager
Manager
Manager
70 | Salary Survey 2011
Oil & Gas
Notes• Typical salary range in ‘000 • Salaries are represented in local currencies
* Includes Civ/Struct/Mech/Elec/I&E
Discipline Engineers*
Subsea
Pipelines
Marine/Naval
Safety Engineer
HSE
ROV Management
Field Engineer
Field Technician
China
Singapore
Singapore
Singapore
China
Singapore
Singapore
China
Singapore
Singapore
China
Singapore
Singapore
50 - 100 200 - 300 300 - 400 500 +
100 - 120 130 - 150 160 - 180 200 - 250
120 - 150 160 - 200 220 - 260 300 +
120 - 150 160 - 200 220 - 260 300 +
50 - 100 200 - 300 300 - 400 500 +
120 - 150 160 - 200 220 - 260 300 +
120 - 150 160 - 200 220 - 260 300 +
50 - 100 200 - 300 300 - 400 500 +
120 - 150 160 - 200 220 - 260 300 +
120 - 150 160 - 200 220 - 260 300+
50 - 100 200 - 300 300 - 400 500 +
80 - 100 120 - 130 140 - 160 170 - 200
80 - 100 120 - 130 140 - 160 170 - 200
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Graduate
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Senior
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Lead
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Manager
Salary Survey 2011 | 71
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