Salary Report 2014 Hong Kong

Transcription

Salary Report 2014
Hong Kong
Table of Contents
Banking, Finance & Accounting
3
Sales, Marketing & Retail
7
Human Resources, Secretarial & Administration
12
Temporary & Contract
15
Contact Us
Main Line: +852 3915 0211
Email:
Debbie Matson, Managing Director - [email protected]
General - [email protected]
Address:
Website:
20/F Wyndham Place, 40-44 Wyndham Street, Central, Hong Kong
www.linksinternational.com
2 | Links International Salary Report 2014
2014 Salary Report
About Banking, Finance & Accounting Division
Links International’s Banking, Finance & Accounting team recruits for industry-leading financial institutions,
banks and multinationals. We have excellent market knowledge within these spaces and a roster of active job
seekers across key roles including:

Front Office - Analyst, Associate (ECM, DCM & Corporate Finance), Private Banking Assistant

Middle Office - Change Management, Client Services, Fund Accounting, Vendor Client Servicing

Back Office - Corporate Actions, Income Processing, Settlements

Accounting - Accounting, Audit, Financial Control, Financial Planning, Financial Planning & Analysis
We have a rich and deep database of candidates in this market. The team also uses research and networking
techniques to identify and then proactively approach high-caliber candidates from competitors in areas where
positions are typically hard to fill.
Banking & Financial Services
Market review

The trend for outsourcing continued in the past twelve months, most financial institutions have now
outsourced or off-shored the majority of their transactional capacity as the operational cost of doing
business was too high and the infrastructure too inflated in Hong Kong.

As a result of financial institutions outsourcing, Links was excessively involved in volume hiring across the
third party service providers and custodian banks that we work with, particularly in the post trade
processing and fund servicing areas.

Demand from buy-side and private banking clients has remained consistent with language and in-depth
technical skills being particularly sought after. We successfully placed experienced private client assistants
into international banks and also fund administrators into traditional and alternative asset managers.

Outflows at the Analyst and Associate level from investment banks into boutique firms continues. We saw
junior employees seeking a more unconstrained environment with better work-life balance.

Many of our client banks have been active in target areas. Risk and compliance remained buoyant, while
vendor and change management have both been
areas in which we have seen increased focus.
“We were involved in volume hiring
across the third party service providers
and custodian banks… particularly in
the post trade processing and fund
servicing areas.”
Trends

Banks remain vigilant around profit and operating
margin. This trend affects staffing and will
continue.
2014 Salary Report

Banks are watching their operating margin but still
hiring. The majority of the Asian-centric banks have
clearly stated their aims to hire this year, especially the
Chinese banks. The suspension of IPO’s in China has
“The majority of the Asian-centric
banks have clearly stated their aims
to hire this year, especially the
Chinese banks.”
been lifted; there is a huge pipeline of anticipated
business, most banks overcut their transactional ability
before and are expected to make multiple hires in the
following months.

Areas where we expect to see real growth this year include collateral management, client on-boarding,
compliance, equity derivatives, the insurance sector, investment banking – ECM, DCM & corporate finance,
third party service providers, vendor client services and wealth management.

There has been a surge in demand for equity derivatives products during the second half of 2013, this is
expected to continue and will result in increased hiring in 2014.

The insurance sector is expected to boom in Asia in 2014 due to the increasing affluence and financial
sophistication plus demand for non-life products.
Accounting & Finance
Market review

Recruitment activity within Accounting & Finance remained constant throughout the past twelve months
with strong demand across growth sectors including luxury retail, consumer goods and leisure & travel.
Links supported both start-up companies and mature businesses in making hires across all levels of
seniority and through our core areas of expertise including accounting, audit, CFO, financial analysis and
financial planning and analysis.
Positions in demand

In challenging times economically, minimum spend for maximum effectiveness is key. Consequently
Financial Planning and Analysis was an area in which we made multiple hires, with firms looking for
qualified professionals with the ability to interpret financial data to support the decision making process in
as cost effective a manner as possible.

With focus still on financial due diligence and also increased regulation, candidates with a background in
internal audit and control also remained in demand across most sectors.

Regional experience, language skills and a proven track record of working in local markets and with local
teams remain a priority to hiring managers, with a professional qualification a pre-requisite for most
positions.
2014 Salary Report
Recruiting trends

Cost reduction and control were still key trends in the past twelve months with firms looking to recruit
internally or through their own channels.

Sector specific experience is also in great demand, with candidate demand particularly high across growth
sectors.

Candidates with an Audit background are still selectively moving to positions within the commercial sector
with plenty of outflows into the financial services sector.
Salary trends

In our experience, candidates are typically receiving an uplift of between 10% and 15% when changing
jobs within the accounting sector with some in-demand skill sets receiving an uplift of 20%. We anticipate
the job market will continue to be quite active in 2014 and that pay increments will remain at the levels we
saw in 2013.
For more information, please contact Fraser Douglas, Managing Consultant at
[email protected] or call +852 3915 0252.
Salary Index
Banking
Position
Monthly Base Salary (HKD)
Operations
Head of Operations
80K - 150K
Corporate Actions
18K - 35K
Income & Redemption
18K - 37K
Settlements
18K - 40K
Middle Office
Head of Compliance
80K – 180K
Compliance
30K - 80K
Head of Risk
100K – 180K
Risk
40K – 120K
Head of Client Services
60K – 100K
Client Services
20K - 60K
2014 Salary Report
Head of Fund Accounting
80K – 140K
Fund Accounting
25K - 100K
Change Management
40K - 80K
Client On-boarding
30K - 80K
Vendor Client Servicing
25K - 45K
Front Office
ECM, DCM (Analyst, Associate)
30K - 75K
Private Wealth
Private Banking Assistant
20K - 50K
Accounting
Position
Financial Control
Finance Manager
45K – 80K
Financial Controller
50K – 100K
Financial Analysis
Financial/ Business Analyst
25K – 40K
Financial Planning and Analysis
Analyst
30K – 75K
Private Wealth
Private Banking Assistant
20K – 50K
2014 Salary Report
About Sales, Marketing & Retail Division
The Sales & Marketing team at Links International specializes in identifying the ideal talent across the functions
of sales, marketing, business development, communications, product management, merchandising, design,
CRM and general management within the luxury goods, consumer goods, professional services as well as retail
sectors. As a trusted recruitment partner to our retail clients, we also specialize in retail related positions from
senior frontline sales staff up to and including back office retail operation professionals. We focus on quality
client service by meeting all of our candidates, identifying their key skill sets and underlying motivators to
ensure they match each company’s unique culture and requirements.
Market review and trends

There has been ongoing strong demand for sales and marketing professionals in Hong Kong, Macau and
Singapore across most luxury and retail sectors. International retailers are expanding their vision to
include Macau and 2nd and 3rd tier cities in China.

Employers continue to look actively for strong retail senior frontline sales and back office retail operations
professionals. Experienced store managers and retail area managers are in particular demand.

We are seeing a growing trend of retailers welcoming candidates whose experience is not directly related
to retail. Many luxury brands as well as international mass market brands have lately hired candidates
from other service industries such as airline or hospitality.
Positions in demand

Employers are keen to seek out talent mainly in business planning, sales, digital marketing,
merchandising and brand management as they grow their brands in the region.

Demand for digital marketing professionals will increase across all industries as social media continues to
grow as a form of mainstream marketing and brands compete for consumer loyalty among the younger
generation.

Candidates with in-depth experience and proven track records developing South East Asia in luxury and
retail are particular valued.

Explosive growth in the Macau retail sector is generating demand for staff at all levels and driving up
store level and retail operational salaries.
Candidates

The battle for talent continues. Top performers with unique
skill sets and Chinese and English language skills will
continue to receive multiple offers and counter offer from
their current employer.
“…ongoing strong demand for
sales and marketing
professionals in Hong Kong,
Macau and Singapore across
most luxury and retail sectors.”
2014 Salary Report

Candidates value competitive salary packages but strongly value transparent career development
opportunities within the company, flexibility and work culture.
Salaries

The majority of Sales & Marketing candidates who changed jobs in the past twelve months received
salary increments of 12% to 20%. Bonuses are calculated based on individual and company
performance.

Retail candidates received approximately 10% to 18% salary increase. For 2014, retail candidates will
continue to expect increments of 15% or above. Top candidates can expect at least 20% salary
increment.
For more information, please contact Carolina Mendes, Managing Consultant at
Salary Index – Hong Kong
Sales & Marketing
Position
No. of yrs experience
General Manager
10-15
100K – 150K+
Marketing Director
10-15
80K – 100K+
Marketing Manager
5-8
40K – 50K
Marketing Executive
2-4
20K – 23K
CRM Manager
8+
50K – 60K
Assistant CRM Manager
5-8
30K – 40K
Commercial Director
10+
65K – 85K
Commercial Manager
5-8
45K – 60K
Business Development Director
10+
50K – 65K+
Business Development Manager
5-8
35K – 45K
Wholesale Director
10+
60K – 70K
Wholesale Manager
5-8
30K – 50K
Brand Manager
8+
40K – 60K+
Assistant Brand Manager
5-8
27K – 35K
PR/ Communications Manager
5-8
35K – 45K
Merchandising Manager
8+
55K+
Senior Buyer
5-8
30K – 50K
Buyer
3-5
20K – 30K
Training Manager (Regional)
8+
40K – 50K
Luxury/Retail
2014 Salary Report
Assistant Training Manager
3-5
25K – 35K
Design Manager
5-8
40K – 50K
Design Manager
3-5
25K – 35K
Demand Planning Manager
5-8
45K – 55k
Visual Merchandising Manager
5-8
40K – 50K
Visual Merchandiser
3-5
25K – 35K
10-15
100K – 150K+
Head of Sales and Marketing
10+
80K – 120K
Marketing Director
10+
80K – 100K
Marketing Manager
8-10
40K – 50K
Brand Manager
5-8
30K – 50K+
Assistant Brand Manager
3-5
20K – 30K
Category Manager
8+
30K – 50K
Assistant Category Manager
5-8
20K – 30K
Sales Director
10+
80K – 130K
Sales Manager
5-8
40K – 70K+
Key Accounts Manager
5-8
26K – 32K
Business Development Director
Services
Business Development Manager
10+
80K – 100K+
5+
45K – 60K
Marketing Manager
5+
40K – 50K
Client Relationship/ BD Executive
2-4
20K – 25K
Fast Moving Consumer Goods
General Manager
Professional and Business
Media and Advertising
Group Account Director
9+
60K+
Account Director
7+
40K – 50K
Associate Account Director
6+
30K – 40K
Account Manager
3-5
20K – 30K
General Manager
10+
70K – 100K
General Merchandising Manager
10+
50K – 65K
Merchandising Manager
5-8
30K – 40K
QC/QA Manager
5-8
35K – 45K
Logistic/Supply Chain Director
10+
50K – 60K
Customer Service
3-5
20K – 25K
Shipping and Logistics
3-5
15K – 25K
Trading and Manufacturing
2014 Salary Report
Tech and Telecommunications
Senior Manager, Marketing
10+
65K+
Marketing Manager
6-8
35K – 45K
Assistant Marketing Manager
5+
25K – 32K
Sales Manager
5+
30K – 40K
Sales/ Account Manager
2-4
15K – 25K
Inside Sales Account Manager
5+
25K – 35K
Note: All salary ranges are represented in terms of basic salaries exclusive of bonuses, stock options or other
variable incentives. Salaries will vary depending on industry.
Retail – Sales Operations Level
Position
Mass Market
Assistant Shop Manager/ Supervisor
15K – 18K
Store Manager
20K – 23K+
Floor Manager/ Department Manager
23K – 26K
Retail Operations Manager/ Area Manager
30K – 40K
Luxury Market
Assistant Shop Manager/ Supervisor
20K – 25K
Store Manager
25K – 38K
Retail Operations Manager/ Area Manager
40K – 60K
Salary Index – Macau
Position
Monthly Base Salary (MOP)
Sales Associate/ Sr. Sales Associate
1-3
9K – 11K
Assistant Store Manager/ Supervisor
3-5
15K – 18K
Store Manager
4-6
17K – 25K
Retail Operations Manager/ Area
5+
28K – 40K
Mass Market – Store Level
Manager
2014 Salary Report
Luxury Market – Store Level
Sales Associate/ Sr. Sales Associate
1-3
11K – 17K
Assistant Store Manager/ Supervisor
3-5
20K – 25K
Store Manager
5-7
28K – 40K
Retail Operations Manager/ Area
6+
40K – 60K
Visual Merchandising Manager
5-8
35K – 45K
Visual Merchandiser
2-5
20K – 30K
Retail Training & Development Specialist/ Manager
5+
35K – 50K
Manager
Retail Operations
Note: All salary ranges are represented in terms of basic salaries exclusive of bonuses, stock options or other variable incentives.
Salaries will vary depending on industry.
Human Resources, Secretarial and Administration
2014 Salary Report
About Human Resources, Secretarial and Administration Division
Regarded as the number one provider of Human Resources, Secretarial and Administration candidates in the
Hong Kong market, our clients value the team’s proactive strategy in identifying talent coupled with our
personalized approach to understanding clients’ needs. We provide our clients advice and guidance across
compensation and benefits, market updates and trends.

Human Resources and Administrative hiring has moved in a positive direction for the past twelve months.
We expect to see more active hiring within banking, retail, legal and pharmaceutical sectors in 2014.

Top-level employment of expatriates remains active for multinationals especially for HR business partners
and talent acquisition roles.

For the past six months, there has been a high demand for senior level legal secretaries to Partners and
Managing Partners in corporate and finance practice as investment projects picked up in the finance
industry. Launch of international law firms has also been generating demand for secretarial and support
staff, in particular for secretary to teams/ partners and office managerial positions.

We are seeing a growing trend of employers seeking HR professionals who are technology savvy in order
to manage HR e-systems and recruit using social media.
Positions in demand

Demand for HR business partners, office managers, legal secretaries and secretaries in general continues
to increase in 2014.

Employers continue to look actively for HR business partners especially for multinationals as they expect
HR to play a more strategic and consultative role to support the company goals.

Demand for legal support functions will remain stable in 2014 in line with additional fee earners (lawyers)
hired into firms in the region and the expansion of practice groups including Dispute Resolution,
Corporate and Investment Funds.
Candidates

“Demand for HR business
partners, office managers,
legal secretaries and
secretaries in general
continues to increase in 2014.”
Candidates with regional or China experience with English
and Chinese language skills are particularly valued as
companies globalize and expand into the PRC.

Interview process will take longer as employers seek talent
with not only the right experience and skills, but also a
cultural and motivational fit to support the company’s
long-term growth.
2014 Salary Report
Salaries

We anticipate that salaries will increase between 3% and 10%, where candidates from the retail and
professional services sector will have the highest salary increase. Companies will offer a yearend bonus
ranging from 1.5 to 2.5 months of base pay depending on individual and company performance.

For legal support, salary increase has remained stable ranging from 5% to 12%. Candidates value salary
increment and also other factors including bonus, annual leave, additional top-up MPF benefits, quality of
medical/dental coverage and insurance.
For more information, please contact Catherina Boh, Division Manager at
Salary Index
Position
No. of yrs
Monthly Base Salary
experience
(HKD)
10-15+
75K – 120K+
HR Manager/ Regional HR Manager
6-10
35K – 80K+
Senior HR Officer/ Assistant HR Manager
4-6+
25K – 35K
HR Executive
3-5
20K – 28K
Regional Recruitment Officer/ Recruitment Officer
3-5
25K – 35K+
6-10+
45K – 70K+
Regional Training Director
10+
60K – 80K
Training Manager
6+
35K – 45K
Training Officer
4+
20K – 25K
Regional Compensation & Benefits Manager/Director
10+
70K – 120K+
Compensation & Benefits Manager
5+
40K – 60K
Regional Organization Development Director
12-15+
70K – 130K
Organization Development Director
10-12+
60K – 100K
Regional Organization Development Manager
7-10
50K – 70K
Organization Development Manager
6-12
30K – 50K
Payroll Manager
8-10+
35K – 50K
Payroll Specialist
3-5+
18K – 28K
Visa/ Immigration Manager
6-8+
30K – 40K
Visa/ Immigration Specialist
3-6
18K – 25K+
8-10+
30K – 38K
HR Director/ Regional HR Director
Recruitment Manager/ Regional Recruitment Manager
Global Mobility Manager
2014 Salary Report
Global Mobility Specialist
3-5+
20K – 28K
Customer Service/ Call Centre Manager
8+
35K – 55K
Legal Recruitment Specialist
4+
30K – 50K
Knowledge and Information Manager
5-8
45K – 65K
Senior Legal Secretary
10+
35K – 50K
Legal Secretary
4-8
25K – 39K
Paralegal
2-4
20K – 28K
Senior Paralegal
4-10
28K – 60K
Legal Manager
5-10
35K – 60K
Company Secretary
5-10+
40K – 60K
Office/ Administration Manager
8-10+
40K – 60K
Facilities Officer/ Facilities Manager
5-10+
30K – 60K+
Senior Administration Officer
3-6+
25K – 35K+
Executive Assistant/ Personal Assistant to Management
8-10+
45K – 60K+
Secretary/ Team Secretary
5-10+
25K – 40K
Receptionist
3-8+
20K – 28K
Temporary and Contract
2014 Salary Report
About Temporary and Contract Division
Specialized in sourcing high quality candidates for temporary or contract assignment, we are a valued partner
to many global financial institutions, multi-national banks, luxury retailers, legal and professional services firms.
With our extensive knowledge in Hong Kong Employment Ordinance, we help our clients establish best
practices and ensure compliance.
We support our clients’ temporary staffing needs from administrative to managerial level and across the
functions of secretarial, human resources, accounting, marketing, event coordination, project management
and back and middle office banking positions. We have a strong database of candidates in this market enabling
us to identify the right candidate within a short time frame.

There has been an ongoing demand for temporary and contract staff in non-banking sectors including
legal, professional services and luxury retailers. Hiring in the banking and finance sector has not been as
robust as other sectors but banks and investment banks still offer interesting contract opportunities for
candidates with excellent language and technical skills. Financial institutions are increasingly selective
and hiring a smaller pool.

Employers continue to value the ability to have a flexible option for staffing technically important but time
bound projects including integration, expansion and change management.

We are seeing a growing trend of employers hiring new employees on a temporary-to-permanent basis.
The temp to perm option gives a chance for both the employer and employee to assess job and cultural
fit. Also, we see employers using a contract option to initially hire a top performing candidate while
waiting to permanent headcount approval.

With many companies looking to expand in 2014, we foresee increasing demand in temporary and
contract staffing across all functional areas, particularly in the fields of human resources, accounting,
marketing and back and middle office banking operational positions.
Candidates

We are experiencing greater willingness from candidates to
consider temporary positions as a path to a permanent
placement with a preferred employer or target industry.
Candidates also utilize temporary and contract positions as
an opportunity to work in a new field where they may lack
directly transferable skills.
“We are seeing a growing trend
of employers hiring new
employees on a
temporary-to-permanent basis.”
2014 Salary Report

Candidates from the banking and finance sector are now more open to opportunities from the
non-banking sectors.
Salaries

Salary for temporary and contract staff will remain consistent in 2014.

For a temporary to permanent conversion, we saw wide variability in salary increases at conversion from
0 to over 25%, based on the employee’s performance and previous permanent job salary, and market
forces.
For more information, please contact Alice Chan, Managing Consultant at
Salary Index
Position
8+
50K – 70K
Project Manager
8+
45K – 60K
Business Analyst
2-5
20K – 30K
Sales Assistant
3+
25K – 35K
Compliance/ Legal Officer
2-5
20K – 35K
Trading/ Desk Assistant
2-3
18K – 25K
Operations - Settlements
1-2
15K – 25K
Operations - Corporate Actions
1-3
15K – 30K
Trade Support/ Sales Assistant
1-3
18K – 35K
HR Manager
8+
33K – 50K
Recruitment Coordinator
3-5
22K – 28K
HR Specialist
5-8
25K – 35K
HR Generalist
5-8
25K+
HR Officer
3-5
22K – 28K
HR Assistant
1-2
15K – 20K
C&B Specialist
3-5
22K – 30K
EA/ PA/ Senior Secretary – Banking
6+
30K – 50K
Team Assistant - Banking
3-5
20K – 35K
EA/ PA/ Senior Secretary – Non-Banking
5+
25K+
Team Assistant – Non-Banking
2-4
15K – 20K
Legal Secretary
3+
22K – 33K
HRIS Analyst
2014 Salary Report
Office Manager
5+
30K+
Administrative Assistant
1-3
15K – 22K
Receptionist
2+
15K – 22K
Finance Manager
8+
35K+
Financial Analyst
3-5
25K – 33K
Accountant (Qualified)
5+
40K+
Assistant Accountant/ Accountant
5+
25K+
Accounts
Clerk
(Non-Qualified)
Payroll Specialist/ Manager
2-4
15K – 20K
5+
25K – 38K
Payroll Assistant/ Officer
2-4
15K – 25K
Marketing Manager
8+
45K+
Marketing Assistant
1-3
18 – 25K
Events Manager
6+
28K – 40K
Events Coordinator
3-5
22K – 33K

Salary Report 2014 Hong Kong

Transcription

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