asia`s talent gap salary and recruiting insights to bridge the

Transcription

ASIA’S TALENT GAP
SALARY AND RECRUITING
INSIGHTS TO BRIDGE THE DIVIDE
The 2015 Hays Asia Salary Guide
CONTENTS
4
Market Overview & Trends
5
Introduction
6
Salary Policy
12
Recruitment Trends
17
Employer Branding
19
Economic outlook
21
Salary Information
22 Accountancy & Finance
32 Banking & Financial Services
42 Insurance
47 Finance Technology
56 Information Technology
64 Life Sciences
67 Human Resources
71
Office Professionals
73 Contact Centres
74 Legal
76 Sales & Marketing
80 Supply Chain
83 Procurement
85 Education
86 Construction & Engineering
90 Architecture
92 Property
95 Manufacturing & Operations
102 Oil & Gas
ASIA’S TIGHT TALENT MARKET
TURNING CHALLENGES INTO OPPORTUNITIES
Christine Wright – Managing Director, Asia
Welcome to our 2015 Hays Asia Salary Guide. In the eighth edition of our
annual Guide, we’ve again sought the input of our clients across Asia. Added
to this are the insights we’ve obtained from filling permanent, temporary and
contract jobs in the past year. The result is a detailed and accurate picture of
salaries and recruiting trends at this point in time.
One of the most insightful findings in this year’s
Guide is the steady hiring expectations of employers,
which persist despite the talent shortage. Employers
in all five of our surveyed countries are seeing a gap
– some more significant than others – between the
skills that they are looking for and the skills available
in the local labour market.
This has not impeded recruitment plans though
and hiring intentions are strong in most sectors
and industries.
Despite this, candidates should not expect large
salary increases that reflect this level of demand.
Instead employers are offering extra benefits to
secure their preferred candidate. Performance-related
bonuses are also used to reward top performers.
For candidates, there are great opportunities
presented by the current market. Savvy job seekers
are taking advantage of Asia’s tight talent market to
secure roles offering career progression, which longterm will ultimately lead to a higher salary.
Our Guide also reveals that more employers are
hiring candidates in temporary and contract roles.
This method of recruitment is still young in much of
Asia, but employers and candidates alike are
increasingly seeing the benefits of such roles.
We hope you enjoy our enclosed salary and market
insights, and we look forward to working with you
in future.
Christine Wright
Thank you
We would like to express our gratitude to all those organizations who participated in the collection of data for this year’s
Guide. Your contribution has ensured that we can produce an informative document to help support your business
decisions.
Disclaimer: The Hays Salary Guide 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 guide 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.
MARKET OVERVIEW & TRENDS
As part of our Hays Asia Salary Guide, every year
we survey employers to gather their views on salary
policy, recruitment trends and economic outlook.
This year 2,361 organizations, representing 4,017,026
employees, took part in our survey.
Their insights reveal an environment where 27 per cent see a
more positive economic outlook on the horizon. 72 per cent
expect their level of business activity to increase in the year
ahead, and 64 per cent have already seen an increase in business
activity in the 12 months prior to the survey.
This positive environment explains why 44 per cent increased
permanent staff levels in the past 12 months, and why 48 per cent
expect permanent headcount to rise in the year ahead.
Across Asia 43 per cent of employers increased salaries in their
last review by three to six per cent. A further 21 per cent gave
increases of between six to 10 per cent, and eight per cent
increased above that level. At the other end of the scale, 22 per
cent gave their staff increases of less than three per cent, and the
final six per cent gave no increases at all.
There will be little change to the extent of salary increases in the
year ahead, with 41 per cent of employers intending to increase
staff salaries in their next review by three to six per cent. A further
22 per cent will increase between six and 10 per cent.
Country-by-country China remains the standout for salary
increases, as it was last year, with 50 per cent of employers
increasing salaries in their last review by between six and 10 per
cent, and a further 16 per cent above that level. Looking ahead,
employers will be slightly more generous, with a significant 20
per cent intending to give increases of more than 10 per cent.
Malaysia also saw some impressive salary increases. In
comparison salary increases in Hong Kong and Singapore were
more moderate, while employers in Japan continue to show
restraint when it comes to increasing salaries.
The majority of employers in Asia (83 per cent) continue to give
their staff benefits, with health the most popular benefit offered.
Interestingly, while China leads its Asian neighbours when it
comes to the extent of its salary increases, in terms of benefits it
is far more restrained.
Bonuses remain a popular method of rewarding staff; this year 51
per cent of employers across Asia said they will award bonuses to
more than 50 per cent of their staff. In the majority of cases these
bonuses are related to employee performance (80 per cent) and
employer performance (73 per cent), which shows that employers
are using performance-related bonuses to reward their top talent.
Just 11 per cent of employers said bonuses are guaranteed.
Almost one half (45 per cent) of employers said the skills
shortage has the potential to hamper the effective operation of
their business or department. Perhaps this is why overtime and
extra hours worked have increased in 31 per cent of organizations.
The demand for highly-skilled professionals is also one reason
why 54 per cent of employers have utilized a flexible staffing
approach in the last 12 months. The most popular approach was
the use of temporary or contract staff through a recruitment
consultancy. Over one quarter (26 per cent) of employers now
employ temporary or contract staff on a regular, ongoing basis.
Despite the focus on localizing the workforce in many countries,
65 per cent of employers will consider employing or sponsoring a
qualified overseas or expatriate candidate in skill-short areas. This
is indicative of Asia’s severe talent mismatch.
It also suggests that employers across Asia need to continue to
innovate in order to attract candidates in a tight labour market.
SALARY INCREASES
1. Average % increases from last reviews across all countries:
6% 22% 43% 21% 8%
MARKET OVERVIEW & TRENDS: SALARY POLICY
Nil
Less than 3%
From 3% to 6%
From 6% to 10%
More than 10%
By country:
8
5
16
50
21
China
4
6
13
64
13
Hong Kong
2 5
22
56
15
Japan
6
5
8
59
22
Singapore
3 9
48
Malaysia
6 | 2015 Hays Salary Guide - Asia
31
9
SALARY INCREASES
2. Intended average % increases for next reviews across all countries:
5% 24% 41% 22% 8%
Nil
Less than 3%
From 3% to 6%
From 6% to 10%
More than 10%
By country:
20
50
21
2 7
China
4
4
12
63
17
Hong Kong
4
20
59
14
3
Japan
5
3
10
54
28
Singapore
19
47
33
10
Malaysia
2015 Hays Salary Guide - Asia | 7
CANDIDATE SALARY EXPECTATIONS
In a separate survey we also asked our candidates what their expected salary increases were:
In your next review, what percentage increase do you expect to receive?
10% 19% 33% 19% 19%
Nil
Less than 3%
China
3 5
Hong Kong
10
Japan
30
Singapore
5
Malaysia
2 10
10
From 3% to 6%
32
16
From 6% to 10%
50
48
17
36
30
9
17
42
48
More than 10%
5
12
15
25
8
15
BENEFITS
3. Do you give benefits in addition to salary and bonus?
83% 17%
YES
NO
If yes, which of the following are provided?*
Across all countries:
59%
39%
Health
Life assurance
17%
16%
Other
Club/gym
membership
31%
30%
Car/car
allowance
Pension
9%
9%
Tax equalisation
Hardship
allowance
22%
Housing
allowance
5%
Private
expenses
*More than one may be applicable.
BENEFITS
Benefits provided by country:
China
Hong Kong
50%
37%
34%
24%
14%
48%
Life assurance
Car/car allowance
12%
21%
Housing allowance
14%
Club/gym membership
11%
11%
14%
Club/gym membership
7%
Hardship allowance
4%
Hardship allowance
Private expenses
3%
Private expenses
40%
13%
13%
Other
Club/gym membership
7%
4%
6%
Tax equalisation
Hardship allowance
Private expenses
Life assurance
58%
Car/car allowance
Housing allowance
18%
47%
Life assurance
Health
16%
Pension
17%
Housing allowance
Car/car allowance
24%
Other
23%
Club/gym membership
5%
Tax equalisation
20%
2%
Hardship allowance
Private expenses
Housing allowance
Other
Club/gym membership
18%
Tax equalisation
7%
64%
Pension
18%
5%
Health
Pension
15%
Tax equalisation
Malaysia
61%
37%
24%
Other
9%
Car/car allowance
51%
Housing allowance
Health
Life assurance
Pension
Tax equalisation
Singapore
25%
Life assurance
8%
9%
59%
Health
Car/car allowance
45%
Other
16%
62%
Health
Pension
31%
Japan
Hardship allowance
Private expenses
BONUSES
4. What percentage of staff will be awarded bonuses this year?
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
12%
15%
13%
9%
51%
Nil
Less than 10%
From 10%
to 20%
From 20%
to 50%
More than 50%
5. Are bonuses related to*:
80%
73%
11%
Employee performance
Employer performance
Guaranteed
5%
4%
Other
Hours billed
6. What percentage of staff salary do you intend to award as a bonus?
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
34%
44%
11%
11%
Less than 10%
From 11%
to 50%
From 51%
to 99%
100%
STAFFING
7. Over the last 12 months, have permanent staff levels in your department...
14%
42%
44%
Decreased
Remained the same
Increased
MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS
8. In the next 12 months, do you expect permanent staff levels in your department to...
7%
45%
48%
Decrease
Remain the same
Increase
9. In the last 12 months, have you used a flexible staffing approach?
54% 46%
YES
NO
If yes, please specify which one is most commonly used:
25% 45% 16% 9% 5%
EMPLOYMENT OF
PART TIME STAFF
TEMPORARY/
CONTRACTORS
CASUAL STAFF
JOB SHARING
OTHER
STAFFING
10. How often do you employ temporary/contract staff?
31%
43%
26%
Exceptional
circumstances/
never
Special projects/
workloads
Regular ongoing basis
11. In the next 12 months, do you expect your use of temporary/contact staff to...
13%
66%
21%
Decrease
Remain the same
Increase
12. Do skills shortage have the potential to hamper the effective operation of your business?
45%
50%
5%
Yes without a doubt
Yes there will be some impact
No
See the Hays Global Skills Index on the growing skills gap across the globe and the
pressure this is putting on skilled labour markets as the global economy recovers.
hays-index.com
STAFFING
13. In skill-short areas, would you consider employing or sponsoring a qualified overseas candidate?
65% 35%
YES
NO
14. Does your workplace allow for flexible work practices?
58% 42%
YES
NO
If yes, which practices do you currently offer?*
74%
46%
41%
16%
Flexible working hours
Flex-place
15%
14%
Career breaks
Job sharing
Part time employment
4%
Phased retirement
Flexible leave options
STAFFING
15. For which areas have you recently found it difficult to recruit?
Human Resources
Junior to mid
management
Senior
management
10%
10%
Junior to mid
management
Senior
management
Operations
15%
11%
Accountancy & Finance
12%
13%
Distribution
4%
3%
Banking & Financial Services
6%
3%
Purchasing
5%
4%
Sales
24%
18%
IT
15%
7%
Marketing
12%
12%
Technical
17%
9%
Engineering
19%
13%
Healthcare
3%
3%
Property/Facilities Management
4%
3%
Research & Development
8%
8%
Legal
5%
6%
Other
5%
3%
16. Is it your policy to counter-offer staff when they resign?
6% 45% 49%
YES
SOMETIMES
NO
17. Of those counter offered did they:
43%
4%
22%
Stay less than 3 months
Stay 3 to 12 months
Stay longer than 12 months
31%
Left anyway
STAFFING
18. Over the last 12 months has overtime/extra hours in your organization:
13% 56% 31%
DECREASED
REMAINED THE SAME
INCREASED
19. If increased, by how much per week:
45%
35%
20%
5 hours or less
5 to 10 hours
More than 10 hours
20. Are employees paid for these additional hours?
45% 20% 35%
UNPAID
*e.g. time in lieu
OTHER*
PAID
EMPLOYER BRANDING
21. Which factors do you think have the most impact on your employer brand?
Level of importance
No impact
Minor impact
Significant impact
Major impact
23
39
24
9
5
Some impact
Career path/training & development
3 4
34
40
19
The company’s financial health and stability
34
38
21
2 5
The company’s products or services
26
43
24
2 5
An individual’s ‘fit’ with the company’s vision, culture and values
12
39
37
2 10
Direct/indirect experience of the company
19
46
27
2 6
Salary and benefits
4
7
30
44
15
Work/life balance
MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS & ECONOMIC OUTLOOK
EMPLOYER BRANDING
22. How favourable do you think the market perception is of your organization according to these factors?
Organizational perception
Poor
Okay
Very Good
Excellent
11
35
36
13
5
Good
Career path/training & development
4
7
17
42
30
The company’s vision, culture and values
3 7
12
41
37
Direct/indirect experience of the company
3 9
37
41
10
Salary and benefits
4
11
38
Work/life balance
36
11
EMPLOYER BRANDING
23. What percentage of women do you have in management positions?
29%
ACROSS ALL COUNTRIES
By country:
36%
China
31%
Hong Kong
27%
19%
Japan
Singapore
34%
Malaysia
BUSINESS ACTIVITY
24. In the past 12 months has business activity...
14% 22% 64%
DECREASED
REMAINED
THE SAME
INCREASED
25. In the next 12 months, do you envisage business activity...
7%
21% 72%
DECREASING
REMAINING
THE SAME
INCREASING
BUSINESS ACTIVITY
26. What level of impact do the following key factors have in driving your level of business?
MARKET OVERVIEW & TRENDS: ECONOMIC OUTLOOK
None
Consumer/business confidence
5
Interest rates
27
Currency/forex rates
20
Capex investments
22
Projects driven by government
23
Current economic conditions
4 35
Ability to raise financing
23
Natural disaster restoration
30
Some
33
Significant
62
54
19
54
26
45
33
47
30
61
48
29
51
19
27. What is your perception of the general outlook for the local economy in the next 6-12 months?*
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
18%
55%
27%
Weakening
Static
Strengthening
*This data was collected during October & November 2014.
SALARY INFORMATION: SALARIES & SECTOR OVERVIEWS
MONEY TALKS
WIN THE RACE
TO SECURE
TOP TALENT
ACCOUNTANCY & FINANCE
The economy in China is expected to
return to growth this year, which will
create a range of hiring opportunities for
skilled and experienced accountancy and
finance professionals.
An exception is the temporary market
where rates are expected to rise in line
with increasing recruitment activity. Higher
salaries and benefits are already being
used to entice the best candidates away
from other temporary roles and even
permanent roles.
While the start of 2014 was tough for
candidates looking for a new role, the
seeds of a slowly recovering Chinese
economy started to sprout mid-year and
continued to grow into late 2014.
Candidates in greatest demand in the
financial services sector include Regulatory
Reporting Analysts, Financial Regulatory
Reporting Managers, Financial Controllers,
Financial Analysts and Tax Managers.
Conditions are now on track for increased
recruitment activity and even salary
increases this year.
In the commercial sector, Financial Planning
& Analysis Managers are highly sought.
Employers are looking specifically for
professionals with strong analytical,
interpersonal and communication skills who
can adapt to fast changing environments.
SALARY INFORMATION: ACCOUNTANCY & FINANCE
CHINA
In Tier 1 cities such as Beijing, Shanghai
and Guangzhou, the recruitment focus will
be on the services sector as manufacturing
continues to shift to Tier 2 and 3 cities.
Demand will be strong for Finance
Directors, Financial Controllers, Financial
Planning and Analysis Managers,
Commercial Managers/Business Finance
Managers and Internal Control Managers.
A growing number of multinational
corporations are locating their accounting
shared services centre in China and are
also adding to hiring activity. Candidates
in particular demand include those with
proven project management and process
improvement skills and business process
outsourcing or shared services experience.
Candidates securing roles in demand can
expect slight salary increases but should
manage their salary expectations carefully.
Despite the improving economic and
recruitment conditions, organizations will
continue to keep a sharp eye on costs this
year. As a result, candidates with good
business acumen and a solid track record
of assisting organizations to improve
business performance and achieve cost
savings will be in greatest demand.
In the banking sector, the complexity of
the products is creating strong demand
for Internal Auditors to work on treasury
and markets audits. Recruitment demand
is spread across local, regional and
international banks.
While permanent hiring is not expected to
match the pace of temporary hiring this year,
more permanent accountancy and finance
roles are being created by organizations
regionally headquartered in Hong Kong. This
increased hiring is strongest in the retail,
property and technology industries.
We also expect to see a lot more candidate
movement and recruitment activity in the
securities, brokerage and investment
management space. In addition, there is
increased demand for experienced
accountancy professionals to work in
companies regionally headquartered in
Hong Kong despite the more general trend
for companies to offshore accounting
support functions to low cost centres.
Interestingly, we expect salary increases for
accountancy and finance professionals in
Tier 2 and 3 cities to pick up pace this year
as employers attempt to attract experienced
candidates away from Tier 1 cities.
Chinese banks and financial institutions are
looking to recruit highly skilled regional
CFOs who are trilingual in Cantonese,
English and Mandarin. As these candidates
remain in short supply, professionals from
Hong Kong appropriate for these roles can
command premium rates.
HONG KONG
JAPAN
Overall, Hong Kong employers are
expected to take a conservative approach
to salaries in 2015 as controlling costs
remains a major focus.
The Japanese recruitment market remains
strong with the current shortage of
candidates expected to continue this year.
This will place upward pressure on
permanent salaries as well as rates for
temporary staff.
Demand is being driven by the growth of
established companies increasing
headcount, including creating new roles
and an increasing number of new
companies starting up and hiring teams.
Despite this dynamic labour market and a
continuing candidate shortage, employers
remain highly selective when it comes to
making a new hire. This cautious approach
is characterized by a drawn-out and
extended recruitment process as
employers search for a candidate who
matches a long list of requirements.
DEMAND IS BEING DRIVEN BY
THE GROWTH OF ESTABLISHED
COMPANIES INCREASING
HEADCOUNT, INCLUDING
CREATING NEW ROLES
In terms of staffing demand, Financial
Planning & Analysis (FP&A) professionals
are highly sought after, especially bilingual
talent. Also in demand are Financial
Analysts in the early part of their career.
The strongest candidates are receiving
multiple offers, which in turn is driving up
salary and benefit packages. Salaries for
FP&A professionals are particularly
competitive and we expect this to
continue in the year ahead.
Given the shortage of talent employers are
turning to temporary placements to fill
vacant roles, including permanent
positions. This has made sourcing enough
temporary staff a major challenge for
employers in Japan. Not surprisingly this
intense competition for talent has seen
rates for temporary staff rise, a trend that
we expect to continue in the year ahead.
There is no doubt that the year ahead will
be another challenging one for sourcing
talent. As a result new sourcing strategies
will need to be devised and employers
will need to offer competitive salaries.
Employers most likely to succeed will
be those willing to take a more flexible
approach to their search criteria while also
speeding up their selection process.
SINGAPORE
MALAYSIA
With positive hiring intentions for both
permanent and temporary staff in
Singapore, the salary market is set for
another good year for candidates.
Malaysia’s accountancy and finance
recruitment market remains buoyant
across all sectors, which has led to
increasing base salaries for quality
candidates who are changing roles. This
trend will continue in the year ahead.
We expect the high use of contractors and
temporary staff to continue, which will
keep upward pressure on rates. We have
also seen more Singaporeans view
temporary assignments as an attractive
employment option given the higher pay
rates and the quality of assignments on
offer. This trend has only increased the
competition for candidates who are
available to fill permanent jobs.
For employers, the complex labour
conditions in Singapore have forced many
to add more contract roles into their longterm workforce strategies. Off shoring
some functions to low cost centres
continues to be used too and we predict
this trend will increase this year.
Within professional practice, downward
pressure on audit fees and the increasingly
competitive nature of the market has led
many firms to diversify and move into
new, lucrative business areas. Salaries for
roles in these new areas are on the rise.
In banking and financial services,
candidates in corporate governance remain
in growing demand, namely Internal Audit,
Financial Control and Regulatory Reporting
professionals. As a result, salaries are rising
for these candidates.
In commerce and industry, corporate
governance candidates are attracting large
premiums but salaries elsewhere in the
sector have remained fairly steady. Rather
than raising base rates, employers are
instead increasing performance related
bonuses, share options and other incentives.
Overall, employers will continue to favour
candidates with regional and international
experience. Banks in particular want new
hires that can help with their plans to
internationalize their organizations. Not
surprisingly, candidates want to join
organizations with a global company culture
that offer mobility and opportunities to
develop international experience.
BANKS IN PARTICULAR
WANT NEW HIRES THAT CAN
HELP WITH THEIR PLANS TO
INTERNATIONALIZE THEIR
ORGANIZATIONS
Best in Finance & Accounting Recruitment, Asia
CFO Innovation Awards
2012, 2013 & 2014
Business-focused finance professionals will
continue to be in demand this year as
organizations look to develop the
capabilities of their finance departments.
As a result, candidates need to be able to
demonstrate their commercial acumen
during the recruitment process and
explain how they have used their skills to
add value in past roles.
The continued expansion of Malaysia’s
shared services sector has created growing
demand for management-level accountancy
and finance candidates and this will
continue this year. Shared service centres
are increasingly turning to the commercial
arena to obtain the core finance skills
required to move up the business value
chain. Employers plan to further develop
their technical financial processes and
analytics functions by hiring more
professionals with these skills. Candidates
who have held roles such as Finance
Manager, Finance Controller and Finance
Director are in particular demand to take on
senior roles and help lead these efforts.
‘In China we expect
salary increases for
accountancy and
finance professionals
in Tier 2 and 3 cities to
pick up pace this year’
SALARY INFORMATION: ACCOUNTANCY & FINANCE
The race to secure the top talent this year
will increase the need for employers to act
quickly when they recruit. This however is
a particular challenge given the candidate
short market and government rules about
how long an employer must search for
local talent before sourcing a candidate
from outside Singapore.
Other factors influencing the recruitment
market in Malaysia include the
government’s plans to introduce a new
goods and services tax in April 2015,
continuing work by banks on their business
and credit risk strategies linked to Basel II
and Basel III, and the rollout of a new
investment platform that will broaden the
role of Islamic banks from credit providers
to investment intermediaries.
Commerce & Industry | Senior Finance
FINANCE DIRECTOR/CFO
SME
MID
MNC
China
700 - 1,000
800 - 1,200
1,000 - 2,500
Hong Kong
1,000 - 1,500
1,200 - 2,000
1,400 - 3,000
Japan
10 - 15
12 - 25
15 - 30
Singapore
190 - 260
260 - 320
320 - 620
Malaysia
240 - 420
300 - 720
480 - 900
FINANCIAL CONTROLLER
SME
MID
MNC
China
450 - 700
600 - 800
600 - 1,300
Hong Kong
660 - 840
720 - 1,020
840 - 1,350
Japan
10 - 15
10 - 18
12 - 20
Singapore
155 - 185
170 - 210
190 - 250
Malaysia
180 - 240
240 - 360
360 - 600
SENIOR FINANCE MANAGER
SME
MID
MNC
China
300 - 450
450 - 600
500 - 700
Japan
10 - 12
10 - 15
12 - 18
Singapore
95 - 125
110 - 160
130 - 180
Malaysia
130 - 180
180 - 216
168 - 240
FINANCE MANAGER
SME
MID
MNC
China
200 - 350
250 - 400
350 - 550
Hong Kong
455 - 530
540 - 600
572 - 720
Japan
8 - 12
8 - 14
10 - 15
Singapore
75 - 100
95 - 115
110 - 140
Malaysia
130 - 180
144 - 180
180 - 240
ASSISTANT FINANCE MANAGER
SME
MID
MNC
China
100 - 250
180 - 340
250 - 400
Japan
6 - 10
8 - 10
8 - 12
Singapore
60 - 75
65 - 90
80 - 100
Malaysia
84 - 102
102 - 120
120 - 138
SENIOR MANAGEMENT ACCOUNTANT
SME
MID
MNC
China
80 - 150
110 - 160
110 - 200
Japan
6 - 10
7 - 12
8 - 12
Singapore
80 - 100
96 - 120
115 - 140
NOTES
• Salaries are represented in local currencies
• Top of range in MNCs implies regional role
• SME - Small to medium enterprise
• Typical salary range in ‘000, excluding Japan which is
stated in millions
• Job titles in global organizations vary greatly from
European/American/North American companies
• MID - Medium to large
• Salaries do not include bonuses
• MNC - Multinational companies
MANAGEMENT ACCOUNTANT
SME
MID
MNC
China
100 - 150
120 - 200
130 - 250
Hong Kong
264 - 384
336 - 480
360 - 540
Japan
5-8
6-8
7 - 10
Singapore
55 - 75
65 - 95
85 - 108
Malaysia
84 - 102
102 - 108
108 - 120
SENIOR FINANCIAL ACCOUNTANT
SME
MID
MNC
China
130 - 180
150 - 190
160 - 250
Japan
5-8
6-8
6 - 10
Singapore
80 - 100
96 - 120
115 - 140
Malaysia
N/A
N/A
N/A
FINANCIAL ACCOUNTANT
SME
MID
MNC
China
100 - 150
130 - 150
130 - 180
Hong Kong
240 - 340
250 - 360
345 - 455
Japan
5-7
5-8
6-8
Singapore
55 - 75
65 - 95
80 - 108
Malaysia
84 - 102
102 - 108
108 - 120
FP&A DIRECTOR
SME
MID
MNC
China
N/A
N/A
800 - 1,200
Hong Kong
840 - 1,000
960 - 1,200
1,080 - 1,500
Japan
10 - 15
10 - 18
12 - 25
Singapore
162 - 192
180 - 220
210 - 250
Malaysia
N/A
216 - 264
360 - 420
FP&A MANAGER
SME
MID
MNC
China
N/A
N/A
300 - 600
Hong Kong
480 - 650
600 - 800
600 - 950
Japan
8 - 12
10 - 15
10 - 18
Singapore
85 - 115
110 - 135
130 - 160
Malaysia
130 - 180
120 - 192
132 - 192
FINANCIAL ANALYST
SME
MID
MNC
China
120 - 150
150 - 180
180 - 250
Hong Kong
280 - 384
360 - 480
360 - 540
Japan
5-8
6 - 10
7 - 12
Singapore
60 - 85
75 - 95
85 - 110
Malaysia
72 - 96
72 - 120
120 - 156
NOTES
stated in millions
TAX DIRECTOR/HEAD
SME
MID
MNC
China
600 - 750
700 - 900
800 - 1,500
Hong Kong
780 - 960
840 - 1,000
1,080 - 1,600
Japan
N/A
12 - 16
15 - 20
Singapore
120 - 150
150 - 200
200 - 300
Malaysia
N/A
200 - 240
240 - 360
TAX MANAGER
SME
MID
MNC
China
250 - 450
300 - 500
450 - 900
Hong Kong
480 - 720
620 - 840
720 - 1,080
Japan
N/A
10 - 15
12 - 20
Singapore
85 - 115
110 - 135
155 - 205
Malaysia
N/A
155 - 180
170 - 200
TAX ACCOUNTANT
SME
MID
MNC
China
110 - 160
130 - 210
140 - 260
Japan
N/A
5-8
6 - 10
Singapore
60 - 85
75 - 95
85 - 108
Malaysia
84 - 102
102 - 120
120 - 156
HEAD OF INTERNAL AUDIT
SME
MID
MNC
China
N/A
450 - 800
800 - 1,500
Hong Kong
700 - 880
720 - 1,200
1,200 - 1,600
Japan
N/A
10 - 15
12 - 18
Singapore
110 - 150
135 - 185
165 - 250
Malaysia
N/A
250 - 310
300 - 480
INTERNAL AUDIT MANAGER
SME
MID
MNC
China
N/A
350 - 450
450 - 700
Hong Kong
480 - 600
540 - 840
650 - 840
Japan
N/A
8 - 12
12 - 15
Singapore
85 - 115
110 - 135
130 - 160
Malaysia
144 - 180
150 - 200
200 - 240
INTERNAL AUDITOR
SME
MID
MNC
China
N/A
200 - 350
200 - 350
Hong Kong
450 - 540
420 - 600
540 - 660
Japan
N/A
6 - 10
7 - 12
Singapore
60 - 85
75 - 95
85 - 108
Malaysia
96 - 132
96 - 132
96 - 144
NOTES
stated in millions
HEAD OF TREASURY/
CORPORATE TREASURER
SME
MID
MNC
China
N/A
N/A
600 - 1,300
Hong Kong
840 - 1,080
960 - 1,200
1,200 - 2,000
Japan
N/A
12 - 16
12 - 18
Singapore
110 - 150
135 - 185
165 - 250
ASSISTANT AUDIT MANAGER
SME
MID
MNC
China
N/A
N/A
300 - 350
Japan
N/A
6-8
7 - 10
Singapore
55 - 75
65 - 90
100 - 120
Malaysia
78 - 102
84 - 108
102 - 120
SENIOR TREASURY MANAGER
SME
MID
MNC
China
N/A
450 - 600
600 - 900
Japan
N/A
12 - 15
15 - 18
Singapore
90 - 120
110 - 150
140 - 170
TREASURY MANAGER
SME
MID
MNC
China
300 - 400
400 - 500
500 - 700
Hong Kong
420 - 480
480 - 650
600 - 940
Japan
N/A
10 - 12
12 - 15
Singapore
75 - 95
85 - 115
110 - 130
TREASURY SPECIALIST
SME
MID
MNC
China
100 - 150
130 - 150
150 - 250
Hong Kong
N/A
N/A
N/A
Japan
N/A
6-9
8 - 10
Singapore
54 - 72
64 - 85
74 - 96
TREASURY ACCOUNTANT
SME
MID
MNC
China
100 - 150
130 - 150
150 - 250
Japan
N/A
5-8
7-9
Singapore
60 - 80
70 - 90
95 - 125
HEAD OF COMPLIANCE
SME
MID
MNC
China
N/A
500 - 700
600 - 1,300
Hong Kong
650 - 780
680 - 960
1,100 - 1,680
Japan
N/A
N/A
N/A
Singapore
110 - 150
135 - 182
165 - 250
Malaysia
N/A
250 - 310
300 - 480
NOTES
stated in millions
SENIOR COMPLIANCE MANAGER
SME
MID
MNC
China
N/A
400 - 600
600 - 800
Japan
N/A
N/A
N/A
Singapore
80 - 100
100 - 120
110 - 130
Malaysia
N/A
N/A
200 - 240
COMPLIANCE MANAGER
SME
MID
MNC
China
N/A
350 - 500
500 - 600
Hong Kong
380 - 500
420 - 600
480 - 800
Japan
N/A
N/A
N/A
Singapore
80 - 100
85 - 105
95 - 115
Malaysia
N/A
120 - 150
140 - 160
COMPLIANCE SPECIALIST
SME
MID
MNC
Japan
N/A
N/A
N/A
Singapore
60 - 80
65 - 85
80 - 110
PROJECT CONTROLLER
SME
MID
MNC
China
190 - 250
250 - 400
350 - 1,300
Japan
4-6
6-8
6 - 10
Singapore
145 - 165
155 - 185
175 - 200
PROJECT FINANCE MANAGER
SME
MID
MNC
China
N/A
220 - 400
350 - 600
Japan
7 - 10
8 - 12
8 - 15
Singapore
90 - 120
110 - 130
120 - 140
Malaysia
120 - 156
156 - 180
180 - 216
SHARED SERVICE CENTRE
Team Lead
Assistant Manager
Manager
Head of Shared
Service Centre
China
250 - 400
400 - 600
600 - 800
800 - 1,300
Hong Kong
N/A
N/A
N/A
N/A
Japan
N/A
N/A
N/A
N/A
Singapore
54 - 75
60 - 90
90 - 125
110 - 150
Malaysia
90 - 120
102 - 168
180 - 300
240 +
NOTES
stated in millions
Commerce & Industry | Accounting Support
GRADUATES
Assistant Accountant Graduate Accountant
China
65 - 120
55 - 100
Japan
3-5
3-5
Singapore
45 - 65
33 - 45
Malaysia
54 - 66
42 - 48
SUPPORT
Accounts Receivable Accounts Payable
Credit Control
Bookkeepers
China
40 - 65
40 - 65
40 - 55
40 - 70
Hong Kong
176 - 300
176 - 300
220 - 404
240 - 380
Japan
3-5
3-5
5-7
3-5
Singapore
38 - 60
38 - 60
40 - 60
26 - 40
Malaysia
30 - 54
30 - 54
36 - 60
N/A
NOTES:
stated in millions.
Banking Industry
FINANCIAL SERVICES
Finance Director/CFO Financial Controller
Senior Finance
Manager
China
1,200 - 2,000
900 - 1,600
600 - 1,000
Hong Kong
1,600 - 3,000
1,200 - 2,000
800 - 1,200
Japan
12 - 30
10 - 25
10 - 18
Singapore
300 - 500
200 - 350
150 - 275
Malaysia
420 +
240 - 390
144 - 210
Finance Manager
Assistant
Finance Manager
Tax Director/
Head of Tax
China
500 - 750
300 - 500
1,200 - 1,600
Hong Kong
650 - 950
420 - 540
1,400 - 2,200
Japan
8 - 15
7 - 12
15 - 25
Singapore
125 - 200
75 - 150
250 - 500
Malaysia
96 - 168
66 - 96
204 - 300
NOTES
• Salaries are representative of the total package value
stated in millions
• Investment banking salaries are at the higher end of
ranges stated; consumer banking at the lower
Banking Industry
FINANCIAL SERVICES
Tax Manager
Tax Accountant
Head Internal Audit
Senior Audit Manager
China
500 - 800
350 - 450
1,000 - 1,600
800 - 1,000
Hong Kong
650 - 1,200
400 - 600
1,700 - 2,500
800 - 1,200
Japan
10 - 18
6 - 12
12 - 25
12 - 18
Singapore
140 - 220
80 - 160
250 - 400
170 - 260
Malaysia
132 - 200
60 - 120
240 - 480
168 - 240
Audit Manager
Assistant
Audit Manager
Dept Head
Product Control
Senior
Product Controller
China
600 - 800
350 - 500
1,200 - 1,600
800 - 1,200
Hong Kong
650 - 950
350 - 500
1,500 - 2,500
900 - 1,500
Japan
10 - 16
8 - 12
18 - 20
12 - 16
Singapore
100 - 170
70 - 110
250 - 400
150 - 250
Malaysia
120 - 180
72 - 120
252 - 360
156 - 240
Product Controller
Senior
Treasury Manager
Treasury Manager
Treasury Accountant
China
650 - 900
800 - 1,000
350 - 650
150 - 350
Hong Kong
500 - 800
1,100 - 1,500
800 - 1,100
420 - 550
Japan
10 - 14
15 - 18
12 - 15
7 - 10
Singapore
75 - 150
200 - 300
150 - 225
75 - 150
Malaysia
84 - 160
216 - 350
120 - 216
72 - 120
Head of
Compliance/Risk
Senior Compliance/
Risk Manager
Compliance/
Risk Manager
China
1,000 - 1,500
650 - 900
350 - 600
Hong Kong
1,200 - 2,000
850 - 1,200
600 - 850
Japan
25 - 30
15 - 20
11 - 16
Singapore
200 +
180 - 200
150 - 180
Malaysia
300 - 480
168 - 300
72 - 168
Compliance/
Risk Specialist
Accounts
Receivable
Accounts Payable
Credit Control
China
150 - 350
60 - 120
60 - 120
200 - 400
Hong Kong
350 - 480
200 - 300
200 - 300
200 - 320
Japan
8 - 12
5-8
5-8
8 - 15
Singapore
130 - 150
50 - 75
50 - 75
50 - 90
Malaysia
120 - 240
34 - 66
34 - 66
36 - 66
NOTES
stated in millions
• Investment banking salaries are at the higher end of
ranges stated; consumer banking at the lower
Professional Practice
AUDIT
Consultant
Senior Associate/
Assistant Manager
Hong Kong
240 - 300
320 - 470
Japan
5-8
6 - 10
Singapore
35 - 45
50 - 70
Malaysia
54 - 84
72 - 120
Manager
Senior Manager
Director/Partner
Hong Kong
500 - 720
750 - 1,100
1,200 +
Japan
9 - 12
12 - 15
15 +
Singapore
75 - 100
100 - 150
180 +
Malaysia
120 - 144
144 - 200
240 +
ADVISORY PRACTICES
Consultant
Senior Associate/
Assistant Manager
Hong Kong
240 - 300
320 - 560
Japan
6-8
8 - 12
Singapore
35 - 45
50 -70
Malaysia
54 - 84
72 - 120
Manager
Senior Manager
Director/Partner
Hong Kong
570 - 920
920 - 1,200
1,200 +
Japan
10 - 15
15 - 18
20 +
Singapore
75 - 100
100 - 150
180 +
Malaysia
108 - 144
144 - 204
240 +
TAX
Tax Consultant
Senior Tax Consultant
Hong Kong
240 - 300
320 - 560
Japan
5-8
7 - 10
Singapore
40 - 75
60 - 90
Malaysia
42 - 66
60 - 84
Tax Manager
Senior Tax Manager
Tax Director
Hong Kong
570 - 920
920 - 1,200
1,200 +
Japan
10 - 14
12 - 16
18 +
Singapore
120 - 150
100 - 150
180 +
Malaysia
84 - 144
144 - 204
240 +
NOTES
stated in millions
BANKING & FINANCIAL SERVICES
CHINA
China’s banking market grew modestly
over the past 12 months and salaries
continue to trend upward.
SALARY INFORMATION: BANKING & FINANCIAL SERVICES
Over the year there were several peaks of
staffing demand and hiring activity. The
first was in retail banking. While
consumers were more cautious in their
spending pattern and the housing market
slowed in most major cities in China,
activity increased in the shadow banking
market as retail investors switched to
alternative investment channels.
Within corporate banking, banks
diversified their resources from the once
booming property development sector
and associated heavy industry. This
created additional job opportunities for
bankers with a diverse client portfolio.
Chinese regulators also encouraged banks
to diversify from an interest income
dependent model to a model that
balances interest and non-interest income.
This created more job opportunities in the
investment banking market.
WE SAW BANKS CONTINUE
TO CENTRALIZE THEIR BACK
OFFICE FUNCTION IN ORDER TO
IMPROVE MANAGEMENT AND
SAVE COSTS
In other positive trends, confidence levels
remain high in the corporate client market
and there are more success stories of
Chinese corporate listings in overseas
stock exchange centers.
We also saw banks continue to centralize
their back office function in order to improve
management and save costs. This created
more job opportunities, especially in the Tier
2 cities where labor costs are lower.
Following the APEC Summit in November
2014, Chinese leaders pledged to curb
corruption. As a result, we expect to see
high levels of demand for compliance, AML
and KYC professionals in the coming years.
In addition, at both the 2014 APEC and
G20 Leaders’ Summits the importance of
the world’s excessive carbon emission
problem was emphasized. Consequently
we expect to see demand increase for
Bankers as well as private equity and
venture capitalist investors who specialize
in renewable and green energy.
Salaries are generally trending upward,
although in the year ahead the percentage
increase is expected to be more modest
than in previous years.
remain fairly stable since companies still
have strict budget constraints. Despite
this, employers still expect a high quality
hire and therefore the recruitment process
can be lengthy as they search for a
suitable candidate who matches all their
criteria at the price point they can pay.
JAPAN
HONG KONG
Corporate, retail and private banking
continue to dominate Hong Kong’s
recruitment market. As such, demand
remains high for Relationship Managers, and
in turn for risk and compliance professionals.
While corporate and commercial banking,
as well as transaction banking, are busy
areas, the shortage of highly-skilled
professionals at all levels remains a key
challenge for employers. Demand is
highest for candidates with both trade
finance and cash management product
knowledge, fluent Mandarin language skills
and a specialization in China corporate.
Within private banking we saw a
continued increase in activity over the
past year. In fact, the demand for
experienced Private Bankers is so high
that it now exceeds supply. As noted, in
the retail banking sector the demand for
experienced Relationship Managers
remained strong. However employers
faced not only attraction but retention
issues. This put upwards pressure on
salary packages as Relationship Managers
looked for the best offer.
Compliance remains a consistently busy
area for recruitment, especially within
AML/Sanctions. A new wave of fines and
sanctions led to more newly created jobs
in these areas. Meanwhile private banking
compliance professionals remain in high
demand but short supply, especially those
with fluent Mandarin language skills.
Market risk vacancy activity was relatively
stable in 2014. Increased trade with China
has led to demand for Corporate Credit
Risk professionals who speak Mandarin.
Growth within operational risk continued,
with interesting opportunities available for
professionals at all levels.
Looking ahead, while candidate demand
will continue to exceed supply, salaries will
Demand for talent continues to outstrip
supply in Japan’s active financial services
market. In most demand are bilingual
Japanese/English speakers, with the
majority of vacancy activity concentrated
at the Analyst and Associate levels.
Over the past year we’ve seen US banks
recruit in higher volumes than the year
prior. This vacancy activity has been
mostly at the Analyst and Associate levels.
There were a few instances of sign-on
bonuses, but these were very rare.
We also saw hiring extend through the
end-of-year period, which is traditionally
quiet and is thus a strong indicator of the
active year that 2014 was.
At the senior level vacancy activity also
increased. This was the result of replacing
departing staff as well as upgrades. When
firms recruit at this level, they offer larger
salary increases as well as guarantees or
sign-on bonuses to select candidates. This
trend will continue in 2015 as employers
look to secure highly-skilled professionals.
Competition for experienced talent will
remain at an all time high. Given that
candidate demand now outstrips supply,
employers are willing to relocate
candidates from foreign countries,
provided they have native level proficiency
in Japanese.
However they will not compete for
candidates based on salary. Unless a
candidate moves from a higher tier firm
into a lower tier firm, they are unlikely to
receive a large salary increase.
Candidates do however receive multiple
offers, as well as strong counter offers as
firms attempt to retain key people. In 2014
this had some upward impact on salaries.
Looking ahead, most employees expect to
receive at least a similar total compensation
package when they change jobs.
Like most large financial services hubs, the
focus of Singapore’s jobs market is risk,
compliance and controls. Consequently
the key salary increases have been for
controls focused professionals. Candidates
who are heavily involved in credit risk,
market risk, operational risk, KYC and
AML, as well as those in specialist areas
such as Dodd Frank, FATCA, EMIR and
MAS regulatory requirements, saw their
salaries increase due to the high demand
for their skills. Salaries for these
professionals are now marginally higher
than their non-controls counterparts.
Singapore’s private banking sector also
continues to experience growth. The
extremely strong demand for private
banking Relationship Managers has
resulted in a large salary increase. Given
Singapore’s small pool of private banking
talent, employers had to consider
Relationship Managers in other areas, and
thus salaries for non-private banking
Relationship Managers, such as those in
corporate banking, also increased.
AN EXTREMELY STRONG
DEMAND FOR PRIVATE BANKING
RELATIONSHIP MANAGERS HAS
RESULTED IN A LARGE SALARY
INCREASE
Within risk, Basel III preparations and the
establishment of a more cohesive control
in the current risk set up created high
demand for dynamic Risk Analytics, MIS
Credit Risk and Quantitative Risk
professionals. However such professionals
are in short supply.
Another trend was the recognition of
derivatives as a risk mitigation technique
that also economises on capital adequacy
requirements. As a result, most banks are
expanding their derivatives products,
specifically over-the-counter products,
and structures.
We also saw vacancy activity increase for
global market roles, as these functions
were migrated from other countries such
as Singapore and Hong Kong. This trend
has created job opportunities for local
skilled professionals. Transaction
management functions have also increased
as a result of new changes and migrations.
Another trend is the focus on growing
Islamic banking arms as well as catering to
more Islamic products. The Islamic financial
system, comprising the Islamic banking
industry, the Islamic money and capital
markets, and the Takaful market, is becoming
an increasingly important component in
Malaysia’s financial system and in the global
arena. This is also supported by the
Government, which is encouraging the
development of the Investment Account
Platform (IAP), a new Shariah-compliant
investment product in 2015.
Another interesting salary trend was seen
in trade finance. Given the strength of
Singapore’s trade finance market,
candidates usually receive a 10 to 15 per
cent increase in their base salary when
changing jobs. This trend is evident in
both the trade finance front office as well
as for supporting functions.
For all other financial services roles
salaries remain fairly stable, with only
minimal increases for select highlyskilled professionals.
MALAYSIA
Malaysia’s banking industry saw exponential
growth in 2014, both in terms of migrated
functions as well as diversification of
products. This mostly impacted risk,
treasury and global market functions.
‘Corporate, retail
and private banking
continue to dominate
Hong Kong’s
recruitment market’
SALARY INFORMATION: BANKING & FINANCIAL SERVICES
SINGAPORE
Front Office
CORPORATE FINANCE, M&A, ECM/DCM
Analyst
Associate
Vice
President
Director
China
250 - 500
500 - 750
750 - 1,200
1,200 - 2,000 1,800 +
Hong Kong
480 - 720
600 - 960
960 - 1,600
1,600 - 2,000 2,000 +
Japan
7.5 - 8
8.5 - 13
14 - 20
20 - 35
35 +
Singapore
70 - 90
90 - 130
130 - 220
220 - 350
350 +
Malaysia
36 - 60
60 - 108
108 - 168
168 - 216
216 - 300
ASSET MANAGEMENT
Sales
Senior Sales
Head of Sales Junior Trader Trader
China
240 - 360
360 - 600
600 - 900
400 - 600
600 - 800
Hong Kong
660 - 900
900 - 1,200
1,200 - 1,800
960 - 1,500
1,500 +
Japan
6-9
10 - 15
15 - 20
7 - 10
10 - 15
Singapore
40 - 60
60 - 100
100 - 130
60 - 80
80 +
Malaysia
42 - 78
78 - 120
120 - 180
42 - 72
72 +
Research
Analyst
Snr Research Head of
Analyst
Research
Assistant
Fund
Fund Manager Manager
Chief Fund
Manager
China
240 - 360
360 - 600
600 - 900
400 - 700
600 - 1,000
1,000 +
Hong Kong
300 - 420
480 - 720
780 - 1,200
660 - 1,020
1,020 - 1,400
1,400 - 2,100
Japan
7 - 11
10 - 16
15 - 25
8 - 12
10 - 18
18 - 25
Singapore
60 - 80
80 - 130
130
130 - 150
150 - 175
175 - 250
Malaysia
42 - 70
70 - 90
90 - 144
144 - 180
180 - 240
240 - 300
PRIVATE EQUITY
Analyst
Associate
Vice
President
Director
Managing
Director
China
250 - 360
360 - 600
600 - 1,500
1,500 - 2,500 1,800 +
Hong Kong
600 - 1,020
420 - 600
1,020 - 1,400
1,400 - 2,200 2,200 +
Japan
8 - 13
10 - 15
15 - 25
20 - 30
30 +
Singapore
70 - 100
100 - 150
150 - 180
180 - 250
250 +
Malaysia
52 - 87
87 - 100
100 - 170
170 - 216
220 +
HEDGE FUND - INVESTMENT
Analyst
Associate
VP
Assistant
Fund
Fund Manager Manager
China
250 - 360
360 - 600
600 - 800
650 - 900
1,000 +
Hong Kong
500 - 700
700 - 1,000
1,000 - 1,350
1,200 - 1,500
1,500 - 3,000
Japan
8 - 12
12 - 15
15 - 25
10 - 15
20 +
Singapore
80 - 110
110 - 140
140 - 180
180 - 250
250 +
Malaysia
40 - 54
54 - 108
108 - 156
156 - 228
228 - 264
NOTES
• Salaries are annual and represented in local currencies
stated in millions
• Typical benefits on top of salaries stated include
performance based bonuses
Managing
Director
Front Office
HEDGE FUND - EXECUTION
Risk Analyst
Quantitative
Risk Manager Analyst
Snr Quantitative
Analyst
Trader
Senior Trader
China
500 - 800
800 - 1,200
1,000 +
500 - 1,000 + 500 - 800
600 - 1,000 +
Hong Kong
400 - 700
720 +
1,000 +
1,500 +
400 - 800
800 +
Japan
10 - 12
12 - 15
12 - 15
15 - 25
15 - 25
20 - 30 +
Singapore
80 - 100
100 - 150
150 - 200
130 - 150
150 - 220
220 +
Malaysia
40 - 72
72 - 114
114 - 168
168 - 216
216 - 288
288 +
GLOBAL MARKETS
Junior Trader Trader
Senior Trader Desk Head
Quantitative
Analyst
Quantitative
VP
China
250 - 400
400 - 800
800 - 1,500
300 - 500
500 - 800
1,500 +
Hong Kong
300 - 540
600 - 1,200
1,200 - 2,500 2,500 +
600 +
850 +
Japan
8 - 10
12 - 20
20 - 30
30 - 40
8 - 12
12 - 20
Singapore
55 - 70
80 - 180
175 - 250
250 +
130 - 150
150 - 220
Malaysia
50 - 85
85 - 150
150 - 276
276 +
120 - 150
150 - 240
Quantitative
Director
Quantitative
MD
Associate
Structuring
VP
Structuring
Director
Structuring
MD
Structuring
China
800 - 1,500
1,500 +
300 - 500
500 - 800
800 - 1500
1,500 +
Hong Kong
1,200 +
N/A
500 - 800
850 - 1,000
1,400 - 1,600 1,800 +
Japan
20 - 30
30 +
10 - 14
15 - 22
22 - 30
30 +
Singapore
220 - 300
300 +
90 - 130
130 - 220
220 - 350
350 +
Malaysia
240 - 312
320 +
84 - 138
138 - 192
192 - 340
340 +
FINANCIAL MARKETS SALES,
INSTITUTIONAL, CORPORATE,
RESEARCH, HEDGE FUNDS
Associate
Vice
President
Director
Managing
Director
China
300 - 500
500 - 1,200
1,200 - 2,000 2,000 +
Hong Kong
660 - 1,000
1,000 - 1,600 1,600 - 2,000 2,000 +
Japan
10 - 14
15 - 22
22 - 30
30 +
Singapore
90 - 130
140 - 220
220 - 300
300 +
Malaysia
60 - 132
132 - 228
228 - 312
312 +
RESEARCH/STRATEGY
(FICC & EQUITY)
Analyst
Associate
Vice
President
Director
Managing
Director
China
250 - 360
360 - 600
600 - 800
800 - 1,200
1,200 +
Hong Kong
360 - 600
600 - 840
840 - 1,500
1,500 - 2,100
2,100 +
Japan
8 - 10
10 - 15
15 - 22
22 - 35
35 +
Singapore
70 - 90
100 - 150
150 - 200
200 - 300
300 +
Malaysia
48 - 72
72 - 144
144 - 180
180 - 300
300 +
NOTES
stated in millions
Front Office
CORPORATE BANKING
Assistant
Relationship
Manager
Relationship
Manager
Senior
Relationship
Manager
Team Head
China
100 - 200
200 - 360
360 - 800
600 - 900
900 - 1,500
Hong Kong
200 - 300
300 - 600
600 - 900
900 - 1,300
1,300 +
Japan
6-9
10 - 14
15 - 18
18 - 22
22 +
Singapore
60 - 80
80 - 130
130 - 200
200 - 250
250 +
Malaysia
60 - 96
96 - 144
150 - 200
200 - 288
288 +
COMMERCIAL BANKING
Assistant
Relationship
Manager
Relationship
Manager
Senior
Relationship
Manager
Team Head
Department
Head
China
100 - 180
180 - 300
300 - 480
480 - 720
720 - 1,200
Hong Kong
180 - 300
300 - 550
550 - 700
700 - 1,000
1,000 +
Japan
5-7
8 - 12
13 - 15
15 - 20
20 +
Singapore
50 - 70
70 - 120
120 - 150
150 - 200
200 +
Malaysia
38 - 60
60 - 96
96 - 126
126 - 180
180 - 240
SME BANKING
Assistant
Relationship
Manager
Relationship
Manager
Senior
Relationship
Manager
Team Head
Department
Head
China
80 - 150
150 - 240
240 - 360
360 - 600
600 - 1,000
Hong Kong
180 - 250
250 - 500
500 - 600
600 - 900
900 +
Japan
5-7
8 - 11
12 - 15
14 - 18
19 +
Singapore
50 - 70
70 - 120
120 - 150
150 - 200
200 +
Malaysia
38 - 54
54 - 84
84 - 120
120 - 180
180 +
FINANCIAL INSTITUTIONS BANKING
Assistant
Relationship
Manager
Relationship
Manager
Senior
Relationship
Manager
Team Head
Department
Head
China
120 - 240
240 - 480
480 - 720
720 - 1,200
1,200 +
Hong Kong
200 - 300
300 - 600
600 - 900
900 - 1,300
1,300 +
Japan
6-9
10 - 14
15 - 18
18 - 22
22 +
Singapore
60 - 80
80 - 130
130 - 200
200 - 250
250 +
Malaysia
48 - 60
60 - 96
96 - 144
144 - 180
180 - 300
TRANSACTION BANKING
(CASH MANAGEMENT, TRADE FINANCE,
PROJECT & EXPORT FINANCE)
Assistant
Relationship
Manager
Relationship
Manager
Senior
Relationship
Manager
Team Head
Department
Head
China
120 - 240
240 - 360
360 - 600
600 - 1,000
1,000 +
Hong Kong
200 - 300
300 - 600
600 - 900
900 - 1,300
1,300 +
Japan
6-9
10 - 14
15 - 18
18 - 22
22 +
Singapore
60 - 80
80 - 130
130 - 200
200 - 250
250 +
Malaysia
38 - 60
60 - 120
120 - 180
180 - 216
216 +
NOTES
stated in millions
Department
Head
Front Office
FINANCIAL PLANNING &
WEALTH MANAGEMENT
Wealth Manager
Senior Wealth
Manager
Premier Banking
Relationship
Manager
Private Banking
Client Services
Officer
China
280 - 400
450 - 650
200 - 350
260 - 360
Hong Kong
300 - 480
480 - 720
360 - 600
300 - 450
Japan
7 - 11
10 - 12
8 - 12
7-9
Singapore
34 - 42
42 - 58
80 - 85
42 - 58
Malaysia
38 - 60
60 - 120
120 - 170
170 - 240
Private Banking
Relationship
Manager
Senior Private Banking
Relationship
Manager
Sales Manager
Sales Director
China
300 - 480
480 - 750
360 - 550
400 - 700
Hong Kong
500 - 1,000
1,200 - 3,000
600 - 1,200
1,200 +
Japan
8 - 12
12 - 15
15 - 18
18 +
Singapore
60 - 150
150 - 250
70 - 100
120 - 180
Malaysia
66 - 108
108 - 156
156 - 216
216 - 300
Middle Office
CREDIT RISK
Analyst
Associate
AVP
Vice President
Director
China
120 - 240
240 - 360
360 - 600
600 - 1,080
1,080 +
Hong Kong
N/A
400 - 600
720 - 900
900 - 1,200
1,200 +
Japan
7-8
8 - 10
11 - 15
15 - 20
20 +
Singapore
60 - 90
90 - 100
100 - 135
135 - 220
220 +
Malaysia
52 - 78
78 - 132
132 - 180
180 - 276
276 +
MARKET RISK
Analyst
Associate
AVP
Vice President
Director
China
120 - 240
240 - 360
360 - 600
600 - 960
960 +
Hong Kong
180 - 300
320 - 480
480 - 720
720 - 960
1,080 +
Japan
8 - 10
10 - 12
13 - 15
15 - 20
20 +
Singapore
60 - 90
90 - 100
100 - 135
135 - 220
220 +
Malaysia
78 - 108
108 - 156
150 - 210
210 - 276
276 +
OPERATIONAL RISK
Analyst
Associate
AVP
Vice President
Director
China
120 - 240
240 - 360
360 - 600
600 - 1,080
1,080 +
Hong Kong
260 - 380
380 - 650
650 - 900
900 - 1,010
1,010 +
Japan
6.5 - 8
8 - 10
11 - 14
15 - 20
20 +
Singapore
60 - 80
80 - 110
110 - 140
150 - 220
220 +
Malaysia
52 - 78
78 - 132
132 - 180
180 - 276
276 +
NOTES
stated in millions
Middle Office
COMPLIANCE
Analyst
Associate
AVP
Vice President
Director
China
120 - 240
240 - 360
360 - 600
600 - 1,080
1,080 +
Hong Kong
260 - 380
380 - 650
650 - 900
900 - 1,010
1,010 +
Japan
7- 9
8 - 12
13 - 15
15 - 20
20 +
Singapore
60 - 80
80 - 110
110 - 140
150 - 220
220 +
Malaysia
60 - 80
80 - 132
132 - 180
180 - 216
216 +
TRADE SUPPORT
Analyst
Associate
AVP
Vice President
Director
China
120 - 240
240 - 360
360 - 600
600 - 840
840 +
Hong Kong
N/A
N/A
N/A
N/A
N/A
Japan
6 - 7.5
8 - 10
10 - 14
15 - 20
20 +
Singapore
50 - 70
70 - 90
90 - 120
120 - 200
200 +
Malaysia
54 - 72
72 - 120
120 - 156
156 - 216
216 +
COLLATERAL MANAGEMENT/
CLIENT VALUATIONS
Analyst
Associate
AVP
Vice President
Director
China
120 - 240
240 - 360
360 - 600
600 - 840
840 +
Hong Kong
N/A
N/A
N/A
N/A
N/A
Japan
6 - 7.5
8 - 10
10 - 14
15 - 20
20 +
Singapore
50 - 70
70 - 90
90 - 130
130 - 200
200 +
Malaysia
54 - 72
72 - 120
120 - 156
156 - 216
216 +
CHANGE MANAGEMENT/
PROJECT MANAGEMENT
Head of Project
Business Analyst Project Manager Management
China
120 - 360
360 - 720
720 +
Hong Kong
N/A
N/A
N/A
Japan
8 - 12
13 - 18
20 +
Singapore
60 - 130
130 - 200
200 +
Product
Manager
Senior Product
Manager
Client Service/
Reporting
Specialist
Client Service/
Reporting
Manager
Head of Client
Service/
Reporting
Malaysia
ASSET MANAGEMENT
China
N/A
N/A
N/A
480 - 840
840 +
Hong Kong
600 - 780
780 - 960
480 - 720
720 - 960
960 +
Japan
7 - 11
10 - 18
8 - 10
10 - 12
12 - 15
Singapore
80 - 130
130 - 200
80 - 130
130 - 180
200 - 220
Malaysia
60 - 120
120 - 240
120 - 156
156 - 216
216 +
NOTES
stated in millions
Middle Office
PERFORMANCE MEASUREMENT/
INVESTMENT RISK
Associate/AVP
Vice President
Head
China
240 - 600
600 - 960
960 +
Hong Kong
N/A
N/A
N/A
Japan
8 - 12
10 - 16
15 - 22
Singapore
100 - 150
150 - 200
200 - 250
Malaysia
120 - 180
180 - 300
300 +
TRANSACTION BANKING CLIENT SERVICE
Officer
Associate
AVP
Vice President
Director
China
120 - 240
240 - 360
360 - 600
600 - 1,080
1,080 +
Hong Kong
180 - 300
300 - 420
420 - 540
540 - 660
660 +
Japan
6 - 7.5
8 - 10
10 - 13
13 - 18
18 +
Singapore
50 - 60
60 - 90
90 - 130
130 - 200
200 +
Malaysia
48 - 78
80 - 120
120 - 150
150 - 216
216 - 340
TRANSACTION BANKING
IMPLEMENTATION
Officer
Associate
AVP
Vice President
Director
China
120 - 240
240 - 360
360 - 600
600 - 1,080
1,080 +
Hong Kong
228 - 300
300 - 420
420 - 600
600 - 800
800 - 1,050
Japan
6 - 7.5
8 - 10
11 - 13
14 - 18
18 +
Singapore
50 - 70
80 - 130
130 - 150
150 - 220
220 - 300
Malaysia
48 - 78
78 - 132
130 - 150
150 - 220
220 +
INVESTMENT CONSULTANT
Analyst
Associate
Manager
China
240 - 360
360 - 480
500 +
Hong Kong
240 - 360
360 - 480
500 - 1,200
Japan
N/A
N/A
N/A
Singapore
60 - 100
100 - 150
150 +
Malaysia
54 - 72
72 - 162
162 +
PRODUCT MANAGEMENT
Analyst
Associate
Senior Associate/
Manager
China
220 - 320
300 - 360
360 - 480
Hong Kong
N/A
N/A
N/A
Japan
6-7
8 - 10
10 - 11
Singapore
50 - 70
70 - 100
100 - 180
Malaysia
50 - 70
70 - 120
120 - 180
NOTES
stated in millions
Back Office
CORPORATE A CTIONS/SETTLEMENTS
Analyst
A ssociate
AVP
VP
Director
China
120 - 240
240 - 300
300 - 500
500 - 800
800 +
Hong Kong
320 - 400
N/A
N/A
N/A
750 - 1,100
Japan
6-8
8 - 10
10 - 13
13 - 17
15 - 18
Singapore
40 - 60
60 - 80
80 - 110
110 - 180
180 +
Malaysia
42 - 66
60 - 100
100 - 150
150 - 180
180 +
DOCUMENTATION/KNOW YOUR CLIENT/
CLIENT O NBOARDING
Analyst
A ssociate
AVP
VP
Director
China
120 - 240
240 - 300
300 - 500
500 - 800
800 +
Hong Kong
260 - 380
400 - 650
650 - 900
900 - 1,200
1,200 +
Japan
6 - 7.5
8 - 10
10 - 13
13 - 18
18 +
Singapore
50 - 70
70 - 90
90 - 120
120 - 200
200 +
Malaysia
48 - 66
66 - 78
80 - 144
144 - 180
180 - 200
BANKING OPERATIONS
(TREASURY OPS, MM, FX)
Officer
A ssociate
AVP
VP
Director
China
180 - 240
240 - 300
300 - 500
500 - 800
800 +
Hong Kong
N/A
N/A
N/A
N/A
N/A
Japan
6 - 7.5
8 - 10
10 - 13
13 - 17
18 +
Singapore
40 - 60
60 - 80
80 - 120
120 - 180
180 +
Malaysia
40 - 60
60 - 78
78 - 132
132 - 180
180 - 200
TRANSACTION BANKING OPERATIONS
Officer
A ssociate
AVP
VP
Director
China
120 - 240
240 - 300
300 - 500
500 - 800
800 +
Hong Kong
180 - 300
300 - 420
420 - 540
540 - 660
660 +
Japan
6 - 7.5
8 - 10
10 - 13
13 - 17
18 +
Singapore
50 - 70
70 - 90
90 - 120
120 - 180
180 +
Malaysia
40 - 60
60 - 78
78 - 132
132 - 180
180 +
LOAN ADMINISTRATION/CREDIT OPERATION
Officer
A ssociate
AVP
VP
Director
China
120 - 240
240 - 300
300 - 500
500 - 800
800 +
Hong Kong
N/A
N/A
N/A
N/A
N/A
Japan
6 - 7.5
8 - 10
10 - 13
13 - 17
18 +
Singapore
40 - 60
60 - 90
90 - 130
130 - 180
180 +
Malaysia
36 - 60
60 - 84
84 - 120
120 - 168
168 - 325
FUND OPERATIONS
Administrator
Senior
Administrator
Manager
Business
Development
Manager
General
Manager
China
240 - 350
350 - 500
500 - 700
700 - 1,000
1,000 +
Hong Kong
250 - 350
380 - 480
480 - 840
800 - 1,100
1,000 - 1,400
Japan
6-8
8 - 10
10 - 12
8 - 12
15 +
Singapore
40 - 55
55 - 80
80 - 120
120 - 180
180 +
Malaysia
40 - 60
60 - 75
75 - 145
145 - 180
180 +
NOTES
stated in millions
Retail
BRANCH MANAGEMENT
Branch
Sub Branch Manager Manager
Regional/
District Manager
China
360 - 480
960 - 1,500
480 - 960
Hong Kong
520 - 720
620 - 800
700 - 900
Japan
N/A
9 - 12
12 +
Singapore
N/A
50 - 75
80 - 110
Malaysia
48 - 96
96 - 144
144 - 180
OPERATIONAL BRANCH STAFF
Teller
Supervisor
Operations Manager
China
60 - 120
120 - 240
240 - 360
Hong Kong
100 - 150
200 - 250
250 +
Japan
3-4
5-8
8 - 10
Singapore
20 - 30
42 - 47
60 - 100
Malaysia
N/A
N/A
N/A
RELATIONSHIP MANAGEMENT
Assistant
Relationship
Relationship Manager Manager
Senior Relationship
Manager
Sales Manager
China
120 - 240
180 - 300
240 - 480
360 - 600
Hong Kong
300 - 350
420 - 540
576 - 720
780 - 950
Japan
5-7
7 - 10
10 - 13
14 - 16
Singapore
60 - 100
100 - 150
150 - 200
180 +
Malaysia
36 - 60
60 - 132
132 - 192
192 +
MORTGAGE SPECIALIST
Specialist
Senior Specialist
Team Head
Region Head
China
120 - 240
180 - 300
300 - 600
600 +
Hong Kong
180 - 240
240 - 360
360 - 600
800 +
Japan
4-6
6-8
9 - 11
12 +
Singapore
60 - 80
80 - 100
120 - 150
180 +
Malaysia
72 - 96
96 - 180
180 - 264
264 - 396
INSURANCE AND INVESTMENT SPECIALIST Specialist
Senior Specialist
Team Head
Region Head
China
120 - 240
180 - 300
300 - 600
600 +
Hong Kong
180 - 280
360 - 500
700 - 850
1,000 +
Japan
4-6
6-9
9 - 12
13 +
Singapore
60 - 80
80 - 100
120 - 150
180 +
Malaysia
72 - 96
96 - 180
180 - 264
264 +
NOTES
stated in millions
INSURANCE
CHINA
Faced with slower economic growth and
wider and more complex regulation,
China’s insurance market is currently
rebuilding itself. Unsurprisingly then, one
of the biggest trends over the past year
has been the upsurge in the number of
M&A activities and transactions. This led to
high demand for skilled candidates with
solid experience in Strategy, M&A, PMO
and Investment. Consequently salaries for
these professionals increased.
SALARY INFORMATION: INSURANCE
In the sales and distribution field,
particularly the traditional channels of
agency, bancassurance and corporate
sales, insurers are not automatically
increasing salaries in line with normal
incremental or inflationary raises. Instead,
they are recruiting local candidates with
reduced salary expectations, or limiting
expatriate talent to short contracts. This
trend is expected to continue, and thus
salaries for senior roles will remain at
current levels over the year ahead.
In the middle office, Tier 1 cities such as
Beijing and Shanghai are attracting more
talented candidates from financial
institutions and banks, and salaries are
expected to increase by between 15 and
20 per cent. Salary increases will be most
notable in financial risk management and
regulatory compliance since good talent in
this area remains in high demand and
short supply.
Turning to the back office, salaries in life
insurance companies are expected to
remain steady this year. However, we are
also seeing high demand for experienced
Underwriters and Insurance Brokers with
sharp business sense and a proven track
record. Such candidates will impress hiring
managers if they can demonstrate their
talent to drive business.
Another trend that will impact salaries this
year is the increasing number of local and
international companies that are setting
up operations in the Shanghai Pilot Free
Trade Zone. We expect to see a higher
number of hires in this zone in Shanghai.
Furthermore, using Shanghai as a
benchmark, Free Trade Zones will be
launched in other cities in coming years.
As a result, more companies will establish
operations in these zones and demand will
increase for experienced general insurance
and reinsurance professionals. This will
lead to salary increases as organizations
seek to attract and secure the top talent.
HONG KONG
Hong Kong’s insurance industry
continued to grow in 2014. With major
European economies remaining in
recovery mode, Asian markets instead
attracted greater investment.
While this is positive news for the local
market, a huge challenge for employers
remains in the form of Hong Kong’s
shortage of highly-skilled professionals. As
a result of this skills shortage, overseas
candidates are relocating to Hong Kong to
join the insurance workforce in specific
functions, especially in the actuarial,
accounting and finance areas.
In other trends, significant regulatory
updates around investment products and
sales processes led to increased demand
for compliance professionals. In this niche
space there is a shortage of talent and
thus organizations are offering above
market rates for suitable candidates.
Another trend of note is the growth of the
High Net Worth business line. Key insurers
forecast business potential in this sector,
and it is seen as a solution to current
challenges in the investment linked
business resulting from the
implementation of new regulations. As a
relatively immature business line, there is a
shortage of strong talent in this field, and
premium salaries are being offered to the
top candidates.
DESPITE OVERALL GROWTH
AND TALENT SHORTAGES, BASE
SALARIES ARE ONLY EXPECTED
TO INCREASE SLIGHTLY FOR
MOST PROFESSIONALS
In 2015 we will see further expansion in
South East Asia’s key emerging markets.
With Hong Kong a major regional hub for
leading insurance companies, we will see
continuous demand for candidates with
solid regional experience and a wide
scope of insurance knowledge.
Despite overall growth and talent
shortages, base salaries are only expected
to increase slightly in line with inflation for
most professionals. The exception will be
the industry’s high performers, who will
receive significant financial rewards in the
form of a performance bonus.
JAPAN
The key trend in Japan’s insurance
industry in 2014 was the polarization of
salaries. Mergers and restructuring saw a
number of firms, particularly foreign
companies, increase salaries for highperforming employees who they wanted
to retain. At the same time, employees
whose productivity failed to match their
salaries were made redundant.
Mergers and acquisitions also led to high
demand for project management,
operations, and strategic/corporate planning
professionals. As a result, these candidates
received a slight increase in salary.
Another trend of interest was the high
demand for talent in both the alternative
distribution and direct marketing sales
channel. Companies that previously relied
on insurance agents as their main sales
channel changed their focus to direct
marketing or mass marketing sales. As this
trend continues we expect salaries to
increase for highly experienced specialists
in these areas.
Overall salary growth remains stable,
which continues the trend of recent years.
We expect this to remain the case in 2015,
for all bar actuaries, product development
and underwriting candidates. Given the
high demand and short supply of these
specialists, they will be able to continue to
command higher salaries than their
insurance colleagues in other functions.
‘Overall salary
growth in Japan
remains stable, which
continues the trend
of recent years’
INSURANCE
SINGAPORE
Singapore’s insurance industry grew
steadily in 2014 and we expect this to
remain the case in 2015. Consequently,
salaries will rise across most segments.
One of the biggest trends in 2014 was the
continued growth of Singapore as a
regional hub. This led to increased
demand for specialist and sophisticated
underwriting and claims professionals in
energy, construction, aviation, credit and
surety. Competition will remain high for
these professionals in 2015 as global and
local insurers, Lloyd’s syndicates,
reinsurers, and brokers all develop their
business in the region from Singapore. As
a result, these candidates can expect a
notable salary increase in 2015.
A MAJOR TREND IN 2015
WILL BE THE CONTINUED
RESTRUCTURING OF THE SALES
AND DISTRIBUTION LANDSCAPE
IN SINGAPORE
A major trend in 2015 will be the
continued restructuring of the sales and
distribution landscape in Singapore.
Initiatives from the Monetary Authority of
Singapore’s Financial Advisory Industry
Review (FAIR) will impact the business
operations of existing sales and
distribution professionals, especially in the
mass market segment. This, however,
presents opportunities for professionals in
both agencies and bancassurance teams
with strong qualifications and experience
who can conduct sophisticated and high
value financial planning. Such
professionals can expect their salaries to
rise in response to the shortage of suitably
skilled local talent.
expertise as well as multi-channel,
including digital, distribution.
In terms of staffing demand, risk and
finance strategy planning professionals are
needed across the industry. In the risk
segment, the entry of foreign players
means there are strong intentions to
advance risk management to a global
standard. This will impact finance teams as
the current market outlook requires them
to impose a financially-aware mindset in
non-financial business units within the
institution. Demand for top-level finance
strategy professionals as well as Finance
Reporting Managers has significantly
increased compared to previous years.
The market is also expecting growth in the
motor segment, resulting from the lifting
of the motor insurance tariff in 2016. The
government will allow general insurers to
vary premiums based on the risk profile of
individual vehicle owners. This will be
supported by a strong increase in the
hiring of Underwriters.
In other trends, life insurance saw a hike in
demand for agency distribution
professionals at the senior level, while in
general insurance more Business
Development Managers were recruited. On the Takaful side, the Islamic Financial
Service Act requirement for composite
Takaful Operators (TOs) to legally separate
their general and family businesses by
2018 is expected to drive consolidation in
this market. This will be most evident
among smaller TOs with insufficient scale
to justify the additional investment in
separate licenses, especially in respect to
their general Takaful business.
MALAYSIA
Moving forward, it is expected that this
will result in greater sophistication for the
domestic industry through product
innovation, pricing and risk-management
SALARY INFORMATION: INSURANCE
Malaysia’s insurance industry witnessed
dynamic changes in 2014, resulting from a
number of mergers and takeovers of local
insurance institutions by global insurers.
INSURANCE
ACTUARIAL
Chief Actuary
Department
Head
Senior Manager Manager
Associate
China
900 - 2,000
600 - 1,200
400 - 650
200 - 400
120 - 200
Hong Kong
900 - 2,600*
960 - 1,900
600 - 960
400 - 600
200 +
Japan
20 - 30
15 - 30
13 - 20
10 - 18
5-8
Singapore
260 - 440
180 - 340
140 - 180
120 - 150
50 - 90
Malaysia
240 - 420
180 - 300
120 - 180
72 - 120
54 - 72
DISTRIBUTION
Chief Distribution Chief Agency
Officer
Officer
Head of
Bancassurance
Head of
Alternate
Distribution
Head of Sales
Development
China
1,500 - 2,800
1,000 - 1,500
900 - 1,500
1,000 - 1,500
800 - 1,400
Hong Kong
1,500 - 2,500*
1,200 - 1,800
1,200 - 2,000
1,100 - 1,600
1,100 - 1,700
Japan
15 - 30
15 - 30
15 - 30
15 - 25
15 - 25
Singapore
270 - 450
270 - 350
200 - 280
220 - 280
220 - 280
Malaysia
280 - 360
280 - 360
192 - 264
192 - 264
192 - 264
AGENCY
Agency Director Senior Manager Manager
China
600 - 1,000
400 - 700
240 - 400
150 - 240
90 - 150
Hong Kong
840 - 1,200
720 - 900
480 - 600
360 - 480
300 - 360
Japan
15 - 20
12 - 18
8 - 12
7 - 10
5-8
Singapore
140 - 190
140 - 180
110 - 140
70 - 100
40 - 60
Malaysia
156 - 216
96 - 144
60 - 96
38 - 48
33 - 38
BANCASSURANCE
Department
Head
Assistant
Manager
Bancassurance
Officer
China
700 - 1,200
500 - 800
300 - 500
200 - 300
150 - 200
Hong Kong
900 - 1,500
720 - 900
480 - 600
360 - 480
300 - 360
Japan
15 - 20
12 - 15
10 - 12
6 - 10
5-7
Singapore
270 - 450
200 - 250
120 - 150
80 - 120
40 - 60
Malaysia
240 - 324
180 - 240
96 - 180
60 - 84
36 - 54
ALTERNATE DISTRIBUTION
Channel Director Senior Manager Manager
Assistant Manager
China
800 - 1,500
500 - 750
300 - 450
200 - 350
Hong Kong
840 - 1,000
600 - 720
480 - 600
360 - 480
Japan
15 - 20
12 - 18
10 - 14
6 - 10
Singapore
155 - 250
120 - 150
90 - 120
70 - 80
Malaysia
168 - 240
168 - 150
72 - 108
42 - 60
FINANCE
Chief
Financial
Financial Officer Finance Director Controller
Senior Finance
Manager
Finance
Manager
China
1,000 - 2,200
700 - 1,300
600 - 1,000
500 - 800
300 - 500
Hong Kong
1,000 - 3,000*
1,100 - 1,400
900 - 1,200
600 - 900
400 - 600
Japan
15 - 30
15 - 25
15 - 20
12 - 18
10 - 16
Singapore
240 - 500
190 - 250
145 - 240
140 - 180
100 - 150
Malaysia
360 - 420 +
300 - 360
180 - 300
120 - 180
84 - 120
NOTES
stated in millions
* Salaries for these job titles vary greatly due to the nature
of the role and whether the remit is local or regional
Assistant Manager Agency Officer
INSURANCE
AUDIT
Chief Auditor
Audit Director
Senior Internal
Audit Manager
China
800 - 2,000
650 - 1,000
500 - 800
250 - 450
Hong Kong
900 - 2,500*
800 - 1,600*
600 - 900
400 - 600
Japan
15 - 25
15 - 18
12 - 15
10 - 14
Singapore
280 - 450
220 - 320
150 - 250
90 - 160
Malaysia
300 - 440
220 - 300
130 - 220
72 - 140
COMPLIANCE/ORM
Chief Risk
China
900 - 2,000
Hong Kong
1,500 - 2,600*
Japan
10 - 20
Singapore
180 - 220
Malaysia
300 +
UNDERWRITING LIFE
Chief
Underwriter
Director
Assistant
Manager
China
700 - 900
500 - 700
350 - 550
200 - 350
150 - 300
Hong Kong
1,000 - 1,600*
900 - 1,100
700 - 850
550 - 650
300 - 450
Japan
18 - 25
15 - 20
10 - 15
8 - 12
6-8
Singapore
320 - 450
250 - 300
150 - 200
100 - 140
70 - 90
Malaysia
300 - 440
220 - 300
130 - 220
72 - 140
54 - 80
UNDERWRITING GENERAL
Chief
Underwriter
Head of
Business Line
Assistant
Manager
China
800 - 1,200
700 - 900
500 - 700
250 - 450
150 - 250
Hong Kong
1,000 - 1,600*
900 - 1,100
700 - 850
550 - 650
300 - 450
Japan
18 - 25
15 - 20
10 - 15
8 - 12
6-8
Singapore
320 - 450
250 - 300
150 - 200
100 - 140
70 - 90
Malaysia
300 - 384
240 - 312
156 - 240
96 - 156
66 - 96
CLAIMS LIFE
Head of Claims
China
500 - 700
450 - 600
300 - 400
200 - 300
Hong Kong
800 - 1,200*
650 - 750
450 - 600
350 - 450
Japan
15 - 20
12 - 15
8 - 10
6 - 10
Singapore
220 - 320
130 - 200
125 - 190
90 - 100
Malaysia
216 - 300
120 - 216
84 - 132
54 - 84
NOTES
stated in millions
Internal Audit
Manager
Assistant
Manager
INSURANCE
CLAIMS GENERAL
Head of Claims
Head of
Business Line
Assistant
Manager
China
600 - 1,000
500 - 600
450 - 500
300 - 400
200 - 250
Hong Kong
750 - 1,200*
700 - 800
650 - 750
500 - 650
300 - 450
Japan
18 - 25
10 - 15
8 - 12
6 - 10
5-8
Singapore
220 - 320
170 - 210
130 - 200
125 - 190
90 - 100
Malaysia
220 - 320
168 - 220
120 - 170
84 - 120
60 - 84
PROJECTS
Program Head
Senior Project/
Assistant
Program Manager Project Manager Manager
Business
Analyst
China
900 - 2,000
700 - 1,200
400 - 600
250 - 350
180 - 350
Hong Kong
950 - 2,500*
700 - 1,000
450 - 650
320 - 450
200 - 350
Japan
12 - 20 +
10 - 18
8 - 12
6 - 10
5 - 10
Singapore
250 +
180 - 250
140 - 180
90 - 130
60 - 80
Malaysia
300 - 420
240 - 300
156 - 240
84 - 156
56 - 132
STRATEGIC
Program Head
Program
Manager
Assistant
Project Manager Manager
China
1,000 - 2,500
700 - 1,000
400 - 700
240 - 350
180 - 400
Hong Kong
1,200 - 2,800*
720 - 1,200
600 - 960
360 - 540
240 - 420
Japan
12 - 20 +
10 - 18
8 - 15
6 - 10
5 - 10
Singapore
230 +
180 - 230
140 - 180
90 - 130
60 - 80
Malaysia
300 - 420
240 - 300
156 - 240
84 - 156
56 - 120
OPERATIONS
COO
Senior Manager
Manager
Assistant
Manager
China
1,000 - 2,500
700 - 900
300 - 500
180 - 240
Hong Kong
900 - 2,500*
700 - 950
500 - 700
300 - 450
Japan
15 - 30
10 - 15
8 - 12
6 - 10
Singapore
200 - 250
140 - 200
90 - 140
70 - 90
Malaysia
420 +
216 - 320
120 - 216
72 - 120
MARKETING
Head of
Products
Senior Product
Development
Manager
Product
Manager
Assistant
Manager
China
700 - 1,000
300 - 600
200 - 350
150 - 240
Hong Kong
900 - 1,400*
700 - 900
450 - 650
300 - 450
Japan
14 - 20
10 - 15
8 - 12
6 - 10
Singapore
170 - 300
120 - 150
100 - 150
70 - 80
Malaysia
180 +
120 - 168
96 - 120
72 +
NOTES
stated in millions
Business
Analyst
FINANCE TECHNOLOGY
HONG KONG
The candidate market in China is buoyant
and this year the war for talent will
intensify further in key areas. We expect to
see greater focus placed on salaries and
benefits to help employers attract new
hires and retain their existing talent pool.
One of the biggest trends in Hong Kong’s
finance technology jobs market is the
growing demand for hybrid candidates
who have both a business and technical
background. As a result of cost cutting,
employers are looking for candidates who
can take on a role with dualresponsibilities across business and
technology. This trend will continue in the
year ahead.
Since 2013 China has been a primary market
for offshore Centre of Excellence
establishments. Big brands and international
investment banks have set up technology
centres in China and have recruited
candidates with Core Server Side C++ and
Core Java. We have also seen increasing
demand for System Programmers with skills
in scripting languages such as Python, Perl
and Shell Scripting and, amongst big brand
employers, Scala. This trend will continue.
Finding the right candidate will remain a
challenge. This year’s Hays Salary Guide
reflects the use of increased salaries as a
way of attracting high calibre candidates
to fill the growing number of roles on offer.
As well as increasing salaries, employers
will now consider candidates from
overseas, including from non-Chinese
language backgrounds, in order to fill their
vacancies. However, as recruiting from
overseas is more expensive and takes
more time, candidates must meet very
specific criteria including prior experience
working in finance technology.
Looking ahead, China’s finance sector will
continue to experience consistent growth.
Employers include foreign multinationals,
local firms and a growing number of new
comers including local and global fund
management firms and trading firms.
With positive hiring intentions, demand
will remain high for Programmers and
Quant Developers with C++ skills, strong
logical thinking abilities, algorithm coding
skills and the ability to build high
frequency trading systems. Candidates
with experience working with leading
firms are being targeted and even
poached, and thus employers must
develop robust staff retention strategies.
Demand for infrastructure technology
professionals will remain stable. We will
continue to see a modest increase in
production support roles as more
companies view this function as a cost
effective move.
Employers are also placing a high value on
candidates who have good soft skills such
as interpersonal and communication skills
and who can work effectively with internal
stakeholders and external clients to advise
them on technical solutions.
The so-called ‘through train’ stock connect
scheme between Hong Kong and
Shanghai has also generated demand for
candidates. Java Developers were in
demand in the lead up to the November
2014 launch and we expect the gradual
integration of the two systems to generate
additional hiring activity across
development and other systems
integration jobs.
In other trends, Data Analysts are in
increasing demand, especially those with a
proven track record of analysing big data
to detect patterns useful to understanding
future markets. Candidates need to be
adept at obtaining data from a wide
variety of sources, from social media to
internal business reports. Data Analysts
are also helping companies achieve
greater cost efficiencies.
Hong Kong’s changing regulatory
environment is driving demand for
Business Analysts to assist financial
institutions to understand and comply
with new regulations as well as develop
tighter internal controls of regulatory
reporting and tracking.
We have also seen growing demand for IT
Security specialists, especially those with
Certified Information Systems Security
Professional (CISSP) credentials. This
demand is driven by the rising volume of
business carried out over the Internet and
the resulting need for greater privacy
protection. We have also seen a particular
increase in the number of Security
Consultant roles available. Candidates
must have outstanding security knowledge
and good interpersonal skills as roles
involve a lot of client facing work,
including presales consultations.
JAPAN
2015 will be another good year for finance
technology candidates in Japan, with
demand pushing up salaries for select roles.
The upgrading of IT infrastructure remains
a priority for many companies in Japan,
which is creating continuing demand for IT
Business Analysts, Project Managers and
Quality Assurance experts.
BAs with strong skills analysing business
processes and systems are in particularly
high demand as firms strive to develop
more efficient processes and assess their
existing business model and how to
integrate it with technology.
In an interesting trend, companies that
started new projects in late 2014 to
enhance technology systems opted to hire
local Development and Application
Support candidates rather than utilize
offshore options.
In other trends, Japan’s stable and
profitable insurance sector has been very
active in hiring a range of technology
candidates to carry out system upgrades
to meet global standards. We have also
seen candidates from the securities sector
move into insurance to fill well-paid roles.
Insurance firms have been willing to pay
higher salaries to fill senior roles and even
waive normal bilingual requirements to
secure the right candidate.
Candidates with relevant experience in
systems development life cycle (SDLC)
management and the delivery of vendor
solutions will remain in high demand this year.
Banks and insurance companies have also
been hiring across Security, IT Risk and IT
Audit for compliance projects and we
expect this trend to continue. Financial
institutions must meet new standards set
by the Financial Services Agency and the
Bank of Japan and integrate any new
compliance measures with existing policies.
Internal IT Support Engineers are also
being hired in both permanent and
temporary roles to support new IT systems
and infrastructure. Candidates with strong
SALARY INFORMATION: FINANCE TECHNOLOGY
CHINA
FINANCE TECHNOLOGY
technical support experience who can
keep a cool and logical head under
pressure are in highest demand.
Finally, in the IT infrastructure arena
Network Engineers and Voice Engineers
have been in high demand and there has
been some hiring of Helpdesk and
Desktop Customer Support professionals.
SINGAPORE
IT security, digital/e-commerce and Agile
development will be the key hiring
hotspots for the year ahead. These three
areas generated strong recruitment
activity in 2014 during what was an
otherwise steady year for hiring.
Demand for IT security professionals has
increased in line with regulators
introducing higher standards for managing
customer data and keeping it secure in the
face of rising cyber attack threat levels.
Meanwhile, fierce competition has broken
out amongst employers in the retail and
private banking sectors to hire the best
digital and e-commerce specialists to help
devise new ways to win and keep
customers. This will continue in 2015.
In fact a technology arms race is building
as banks strive to customise products and
improve the customer experience in an
effort to stand out from competitors.
While the pressure is intense in such
workplaces the rewards for candidates
include competitive salaries and the
chance to work on innovative projects.
SALARY INFORMATION: FINANCE TECHNOLOGY
Digital and CRM/analytics specialists will
also be in high demand this year to help
realise plans by all the main banking
groups in Asia to develop and expand
their online presence. To do this, banks
need staff who can master complex
analytics tools that help them understand
their customers better.
The introduction in 2014 of the Fair
Consideration Framework to promote local
hiring wherever possible provided another
challenge for banks in Singapore. Given
the candidate short market, employers
now need to balance hiring the best local
talent with hiring the best candidate as
quickly as possible.
In contrast, offshoring remains a popular
option for banks filling lower level
transactional roles. Singapore is seen as a
medium cost location and any proposal to
base these roles locally requires wellsupported justification.
Looking ahead, Singapore will remain a key
regional hub with many banks choosing to
locate their headquarters and their client
facing technical roles here. For this reason
we expect Agile Developers building
applications in C++, Java and Python to be
another area of demand this year.
MALAYSIA
Malaysia’s finance technology industry is
still booming but critical candidate
shortages and government restrictions on
hiring candidates from outside the country
will continue to pose challenges for
employers this year.
Strict policies set by Malaysia’s National
Bank, Bank Negara, limit the amount of
international hires a financial institution
can make. This has presented a number of
hiring challenges including a shortage of
candidates able to take on niche software
development roles and a greater need for
companies to look at retention strategies
as local talent eye higher salary packages
in other parts of Asia and the world.
utilise the latest technology tools to
manage large data migration projects such
as Hadoop, SSIS, SSRS, Python, and R
Programming. We expect demand for
these skills will continue in the year ahead.
Mergers and acquisitions (M&A) have taken
place across the financial services sector in
most developed nations, including
Malaysia. This includes both cross-border
and domestic mergers, in both the banking
and insurance industries. This activity is the
result of globalization and the
development of information technology,
which has led to a more competitive
financial systems market and organizations
attempting to position themselves as major
players in Southeast Asia.
Looking ahead, many employers are still
considering whether or not to enhance
their technology systems this year or
maintain their existing legacy systems
instead. Upgrades will create a huge spike
in demand for a range of candidates
including Project Managers, Business
Analysts and IT security specialists.
Candidates in demand include Project
Managers and Program Managers to drive
projects related to banking applications
and banking and insurance operations.
However, there is a shortage of candidates
with the necessary leadership skills and
technical background. Candidates for
these roles are also expected to have a
good command of English and strong
analytical thinking abilities.
IT security specialists are sought to help
financial firms devise systems to protect
data with cloud and virtualisation
technologies. IT security professionals are
also needed to implement and monitor IT
security policies.
Along with IT security experts, we are also
seeing strong demand for audit and
compliance professionals within
infrastructure
Last year we saw critical candidate
shortages develop, particularly in niche
areas such as Cobol, SAP, Life400,
POLISY400, and for candidates who can
‘The upgrading of IT
infrastructure remains
a priority for many
companies in Japan,
which is creating
continuing demand’
FINANCE TECHNOLOGY
MANAGEMENT
Infrastructure
Manager
Development
Manager
IT Director
CIO
China
400 - 800
400 - 1000
700 - 1,200
1,000 - 2,500
Hong Kong
750 - 1,500
750 - 1,400
1,000 - 1,800
2,000 - 4,000
Japan
15 - 18
15 - 25
20 - 50
25 - 70
Singapore
150 - 300
150 - 300
200 - 400
350 - 600
Malaysia
150 - 240
150 - 300
250 - 500
350 - 600
SUPPORT FUNCTIONS
Application
Support
Team Leader
FIX Connectivity Market Data
Support
Engineer
Application
Support Manager
China
200 - 400
400 - 600
200 - 400
600 - 800
Hong Kong
520 - 900
600 - 900
520 - 850
420 - 750
700 - 1,200
Japan
8 - 14
14 - 18
8 - 14
8 - 14
15 - 22
Singapore
60 - 120
115 - 260
80 - 160
80 - 200
120 - 260
Malaysia
80 - 120
120 - 200
120 - 200
160 - 450
150 - 270
OTHER
Quantitative
Analyst
IT Security/
IT Risk
IT Audit
BCP Manager
China
300 - 600
300 - 600
300 - 500
400 - 700
Hong Kong
600 - 1,400
600 - 1,000
570 - 900
800 - 1,000
Japan
10 - 25
12 - 20
10 - 20
12 - 20
Singapore
100 - 250
80 - 350
80 - 360
100 - 300
Malaysia
140 - 200
100 - 450
120 - 300
120 - 200
300 - 400
Project
Service
Co-ordinators/PMO Delivery Manager Tester
Test Manager
China
250 - 500
500 - 900
200 - 400
400 - 600
Hong Kong
550 - 820
750 - 1,300
450 - 780
660 - 1,000
Japan
6 - 14
15 - 25
8 - 15
10 - 25
Singapore
70 - 130
100 - 220
70 - 120
150 - 250
Malaysia
80 - 130
120 - 200
80 - 120
120 - 220
NOTES
stated in millions
FINANCE TECHNOLOGY
Business Analysts
CASH
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
330 - 550
600 - 950
920 - 1,400
1,200 - 2,000
2,000 - 2,800
Japan
8 - 12
12 - 15
15 - 20
20 - 35
35 +
Singapore
70 - 100
90 - 140
130 - 220
N/A
N/A
Malaysia
60 - 80
100 - 150
150 - 180
N/A
N/A
DERIVATIVES
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
1,000 - 1,300
1,300 - 1,600
Hong Kong
350 - 650
550 - 950
1,000 - 1,500
1,200 - 1,600
2,000 - 3,200
Japan
8 - 12
12 - 15
15 - 22
23 - 35
35 +
Singapore
90 - 120
100 - 140
130 - 200
N/A
N/A
Malaysia
80 - 100
110 - 150
150 - 210
N/A
N/A
ELECTRONIC TRADING
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
520 - 700
700 - 1,000
1,000 - 1,500
1,600 - 2,200
2,200 - 3,200
Japan
8 - 12
12 - 15
15 - 20
20 - 35
35 +
Singapore
90 - 120
120 - 150
150 - 240
N/A
N/A
Malaysia
100 - 130
130 - 170
170 - 250
N/A
N/A
NOTES
stated in millions
450 - 1,000
FINANCE TECHNOLOGY
Project Management
CASH
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
520 - 650
700 - 1,000
1,000 - 1,500
1,500 - 2,200
2,200 - 2,800
Japan
8 - 14
12 - 16
14 - 22
22 - 40
40 +
Singapore
N/A
90 - 130
140 - 200
240 - 280
300 +
Malaysia
N/A
110 - 150
150 - 200
240 - 300
320 +
DERIVATIVES
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
520 - 800
650 - 1,000
1,000 - 1,500
1,500 - 2,200
2,200 - 2,800
Japan
10 - 14
12 - 16
16 - 22
22 - 40
40 +
Singapore
N/A
90 - 130
150 - 200
240 - 300
300 +
Malaysia
N/A
100 - 150
160 - 250
240 - 300
320 +
ELECTRONIC TRADING
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
520 - 850
750 - 1,000
1,000 - 1,500
1,500 - 2,200
2,200 - 2,800
Japan
10 - 14
12 - 16
16 - 22
22 - 40
40 +
Singapore
N/A
110 - 150
160 - 250
250 - 400
400 +
Malaysia
80 - 100
140 - 170
180 - 270
300 - 500
450 +
NOTES
stated in millions
FINANCE TECHNOLOGY
Java
CASH
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
420 - 650
700 - 1,000
900 - 1,500
1,500 - 2,000
2,000 +
Japan
8 - 12
12 - 15
15 - 20
20 - 50
40 +
Singapore
60 - 80
90 - 140
175 - 220
220 - 300
280 +
Malaysia
80 - 100
100 - 140
160 - 220
220 - 350
300 +
DERIVATIVES
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
450 - 680
700 - 1,000
920 - 1,500
1,500 - 2,000
2,000 +
Japan
8 - 12
12 - 15
15 - 20
20 - 50
40 +
Singapore
70 - 90
90 - 140
175 - 220
220 - 300
280 +
Malaysia
80 - 100
100 - 150
160 - 220
220 - 330
320 +
ELECTRONIC TRADING
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
450 - 670
700 - 1,000
950 - 1,500
1,500 - 2,000
2,000 +
Japan
8 - 12
12 - 15
15 - 20
20 - 50
40 +
Singapore
80 - 100
100 - 140
175 - 220
220 - 300
280 +
Malaysia
80 - 100
110 - 150
160 - 240
240 - 320
320 +
NOTES
stated in millions
FINANCE TECHNOLOGY
C++
CASH
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
420 - 800
600 - 1,000
1,000 - 1,500
1,500 - 1,800
1,800 - 2,000
Japan
8 - 12
12 - 15
15 - 20
20 - 50
40 +
Singapore
60 - 80
90 - 130
160 - 220
220 - 300
280 +
Malaysia
70 - 90
100 - 140
150 - 220
220 - 320
300 +
DERIVATIVES
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
420 - 800
600 - 1,000
1,000 - 1,500
1,500 - 1,850
1,800 - 2,000
Japan
8 - 12
12 - 15
15 - 20
20 - 50
40 +
Singapore
70 - 90
90 - 140
150 - 220
220 - 300
280 +
Malaysia
80 - 100
100 - 150
160 - 220
220 - 330
320 +
ELECTRONIC TRADING
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
420 - 800
600 - 1,000
1,000 - 1,500
1,500 - 1,850
1,800 - 2,000
Japan
8 - 12
12 - 15
15 - 20
20 - 35
40 +
Singapore
80 - 100
100 - 140
175 - 220
220 - 300
280 +
Malaysia
90 - 110
110 - 150
160 - 250
240 - 330
320 +
DERIVATIVES
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
450 - 700
850 - 1,000
1,000 - 1,500
1,500 - 1,800
1,800 - 2,000
Excel/VBA/RAD
Japan
7 - 10
10 - 13
13 - 20
20 - 35
40 +
Singapore
60 - 90
90 - 150
150 - 220
220 - 300
N/A
Malaysia
80 - 110
110 - 150
160 - 230
240 - 330
N/A
NOTES
stated in millions
FINANCE TECHNOLOGY
C#
CASH
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
450 - 700
850 - 1,000
1,000 - 1,500
1,500 - 1,800
1,800 +
Japan
8 - 10
10 - 15
15 - 25
25 - 35
40 +
Singapore
60 - 90
90 - 135
140 - 220
220 - 300
300 +
Malaysia
70 - 100
100 - 150
150 - 230
230 - 320
320 +
DERIVATIVES
(ALL ASSET CLASSES)
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
450 - 700
850 - 1,000
1,000 - 1,500
1,500 - 1,800
1,800 - 2,000
Japan
8 - 10
10 - 15
15 - 25
25 - 35
45 +
Singapore
70 - 90
90 - 135
140 - 220
220 - 300
300 +
Malaysia
80 - 100
100 - 150
150 - 230
230 - 320
320 +
ELECTRONIC TRADING
Non-Officer
(Associate)
AVP
Senior Associate VP
ED
MD
China
150 - 250
300 - 450
450 - 1,000
1,000 - 1,300
1,300 - 1,600
Hong Kong
450 - 730
850 - 1,000
1,000 - 1,500
1,500 - 1,800
1,800 +
Japan
8 - 10
10 - 15
15 - 25
25 - 35
45 +
Singapore
80 - 100
100 - 140
150 - 220
220 - 300
300 +
Malaysia
90 - 120
110 - 160
170 - 240
240 - 350
350 +
COBOL
Non-Officer
(Associate)
AVP
Senior Associate VP
Malaysia
70 - 90
100 - 140
Mainframe, AS/400
150 - 200
ETL Informatica, Oracle PL/SQL, RDMS, Data Warehouse, SAS
BUSINESS INTELLIGENCE
Non-Officer
(Associate)
AVP
Senior Associate VP
Malaysia
70 - 90
100 - 140
NOTES
stated in millions
150 - 200
FINANCE TECHNOLOGY
Insurance
APPLICATION DEVELOPMENT
- FRONT OFFICE
C++/Java/
C# Developer
Excel/Visual
Basic Developer
Database
Developer
Japan
7 - 12
7 - 12
7 - 12
Application Architect/
Lead Developer
Development
Manager
Main Frame
Developer
Japan
8 - 15
10 - 20
7 - 12
APPLICATION DEVELOPMENT
- MIDDLE/BACK OFFICE
C++/Java/
C# Developer
Excel/Visual
Basic Developer
Database
Developer
Japan
6 - 12
6 - 12
6 - 12
Application Architect/
Lead Developer
Development
Manager
Main Frame
Developer
Japan
8 - 15
10 - 20
7 - 12
APPLICATION SUPPORT
- FRONT OFFICE
Application Support
Team Leader
Manager
Japan
6 - 10
8 - 14
8 - 15
APPLICATION SUPPORT
- MIDDLE/BACK OFFICE
Application Support
Team Leader
Manager
Japan
6 - 10
8 - 12
8 - 15
OTHERS
Business Analyst (Front Office) Business Analyst (Back Office)
Japan
7 - 13
7 - 13
IT Security/IT Risk
IT Audit
BCP Manager
Japan
8 - 13
8 - 15
10 - 18
Japan
7 - 15
Project Manager (Front Office) Project Manager (Back Office) Program Manager
7 - 15
12 - 25
Project Co-ordinators/PMO
Service Delivery Manager
Test Manager
Japan
6 - 12
10 - 20
10 - 25
MANAGEMENT
Infrastructure Manager
Development Manager
- Front Office
Development Manager
- Middle/Back
Japan
10 - 16
15 - 25
15 - 20
IT Director
CIO
Application Support Manager
25 - 70
40 - 100
15 - 25
Japan
NOTES
stated in millions
INFORMATION TECHNOLOGY
CHINA
China’s IT sector is booming as companies
look to harness the latest technologies
including web development, mobile,
business intelligence and big data to drive
expansion and help them deliver more to
their growing number of consumers.
SALARY INFORMATION: INFORMATION TECHNOLOGY
The increasing business and hiring activity
is pushing up demand for IT talent and
creating candidate shortages in some
areas. We have also seen the break out of
salary bidding wars in small pockets of the
market as employers vie for the best
candidates. We predict upward pressure
on salaries more generally this year across
a number of roles.
Candidates with strong technical skills in
Internet/web development and bilingual
fluency in English and Mandarin will
continue to be highly sought this year.
Roles in strong demand include UserInterface Developers, Front-end
Developers and Mobile Developers (iOS
and Adroid) with the hottest skill sets
being PHP, JavaScript, SaaS, Crawler, .NET,
Java and UI/UX.
We expect another big year ahead for
cloud technologies in China as companies
look for the best ways to store and then
access large amounts of data. This is
creating high demand for experienced
Cloud Architects and Engineers. And
employers have a particular interest in
finding IT professionals able to help them
meet the challenge of accessing data
stored across multiple clouds without
losing control of their information.
ROLES IN STRONG DEMAND
INCLUDE USER-INTERFACE
DEVELOPERS, FRONT-END
DEVELOPERS AND MOBILE
DEVELOPERS
Many organizations in China are also
investing in business intelligence and big
data capabilities to help inform their
business decisions. While it’s still early
days, companies are looking to ramp up
their capabilities but only if they can find
enough of the right IT talent. Sourcing
candidates from inside China is
challenging and consequently some
employers are now prepared to look
overseas. The demand for candidates will
only grow further this year, especially for
those experienced in using big data
technologies Hadoop, Hortonworks,
Teradata and Cloudera.
Meanwhile, China remains one of the world’s
preferred locations for manufacturing
operations with most MNCs still using SAP
for ERP. We expect the strong demand for
SAP candidates to continue, particularly
those with project management skills
coupled with good infrastructure and data
centre skills. It is essential candidates have
solid English language skills as most projects
are regional in reach.
In the wake of several high profile
information security breaches over the
past few years, the Chinese Government
continues to favour engaging local
companies in the interest of national
security to work on its own projects. This
focus on using Chinese IT companies will
continue this year, which will lead to
increased headcounts and rising demand
for a range of roles.
HONG KONG
Hong Kong saw steady demand for IT
professionals in 2014, especially those with
a strong infrastructure background. This
looks set to continue.
Overall, salaries did not increase
significantly in 2014 particularly when
compared to tech salaries in the banking
and finance sectors. This year however we
expect some increases.
Solution sales specialists continue to be in
strong demand in Hong Kong although in
the telecommunications and IT sectors,
marquee candidates dominate and are
able to command salaries significantly
above market rate. Infrastructure specialists remain in strong
demand too as core infrastructure
operations are based in Hong Kong.
Candidates in highest demand are those
experienced in data centre operations, IT
support and Infrastructure Analysts.
We also noted an increasing number of IT
development projects being outsourced to
other parts of Asia, particularly to China
and India as these countries build a
reputation as low cost development hubs
able to deliver quality services. Despite this trend, we have seen a rise in
demand for Solution Architects with
strong technical skills and good
interpersonal skills who are able to take a
consultative approach in their work.
We have also seen companies specializing
in systems integration outsourcing
projects to Hong Kong. This has created a
steady demand for Business Analysts and
Project Managers with both good
commercial acumen and strong technical
knowledge. Candidates in both contract
and permanent roles need to be able to
liaise closely with the business, as
migration and technology upgrade
projects tend to have very tight deadlines.
JAPAN
Japan’s IT candidate market is expected
to grow further in 2015 after a strong year
in 2014.
Hot roles in 2014 tipped to be in strong
demand again this year include those
connected with big data, software testing,
network, ERP and telecoms operational
support systems and business support
systems (OSS/BSS).
Increased salaries have followed the rising
candidate demand and we have seen some
roles attract significantly higher salaries.
In the area of big data, Japanese businesses
continue to expand the data mining
capabilities of their technology teams to
help their sales and marketing departments
formulate strategy. As a result, Data
Architects and Data Modelers are in hot
demand right now and this is driving up
salaries. We expect this demand and upward
salary pressure to continue this year.
Meanwhile, Japanese companies are
making a bigger investment in the
development of new technology systems
generating greater demand for Software
Testing. We expect already growing
salaries to increase further this year in line
with rising hiring demand.
The infrastructure space has seen a spike
in hiring amongst MNCs investing in
system upgrades. Strong hiring activity
and increased salaries apply to in-house
roles and those in vendor organizations.
And finally, the telecoms market has seen
salary increases in line with a significant
spike in demand for candidates in the OSS/
BSS space, particularly Business Analysts
and Manager roles. We have also seen
telecom vendors diversifying into OSS/BSS
solutions and moving more into the delivery
of software-related telecom technologies.
SINGAPORE
Continuing strong demand for skilled IT
professionals in Singapore is being driven
by several key factors that will have a
positive impact on salaries this year.
Firstly, businesses are benefiting from
South East Asia’s economic growth and
many MNCs are expanding their regional
headquarters in Singapore as a result. In
addition, Singapore is experiencing a fast
growing technology start up sector, which
is driving up demand for Developers with
experience in Java, .Net/C#, iOS and
Android. We expect those candidates
moving jobs in 2015 to achieve salary
increases of 10 to 15 per cent.
Further intensifying the war for talent are
large organizations investing in their IT
capabilities to realize the cost savings and
increased flexibility offered by a range of
new technologies. These include cloud,
virtualization, infrastructure consolidation
and utility computing. Roles in demand to
assist with transformation projects include
Project Managers, Architects and Technical
Sales Professionals.
Security and mobile technology
professionals are also in high demand in a
number of sectors.
Singapore’s tighter policies around hiring
from overseas are making sourcing
candidates harder in most segments and
driving up salaries for local professionals
in certain roles.
At the lower end of the salary market such
as Helpdesk Support, organizations are
reacting to the candidate tight market by
using outsourcing options in low cost
markets, which in turn is keeping
Singapore salaries for these roles stable.
Singapore also has a good supply of
senior management IT talent, which has
curtailed the need for higher salaries or
expensive expatriate options.
Overall, we expect to see some salary
increases this year, particularly for roles
experiencing a candidate shortage.
Employers who expect to win the race for
talent this year should be prepared to be
more flexible on remuneration and
towards hiring expatriates to fill businesscritical roles.
However, in the junior to mid level
specialist range such as Mobile Developers
and Network Engineers, restrictions on
hiring from overseas is definitely creating
a talent squeeze for local candidates and
driving up salaries.
Overall, we expect a buoyant market for IT
talent this year with higher salaries for
candidates in many roles.
MALAYSIA
The Malaysian IT talent market looks set
for another year of strong growth with
candidate shortages developing in certain
segments. This will place pressure on
employers who did not increase salaries
competitively in 2014.
Business conditions in a number of sectors
are being strengthened by the continued
government initiatives designed to nurture
IT-related enterprises and bolster
Malaysia’s reputation as the place to source
the best talent and business solutions.
For example, companies using multimedia
technologies to produce and enhance their
products and services can benefit from
special recognition and considerations as
part of the MSC Malaysia initiative.
Government measures have also been
implemented to establish Malaysia as a
global shared services hub. Outsourcing in
key verticals such as banking and financial
services is attracting significant investment
in data centres, development centres and
other infrastructure ventures. This is creating
strong demand for Network Engineers,
System Engineers, Security Consultants and
Server Infrastructure Engineers.
We have also seen higher demand for mid
to senior candidates skilled in Microsoft
Networking as well as stronger hiring
activity for programming experts with niche
skill sets in Java, .Net, Business Intelligence
tools, C++ and IOS/Android Development.
‘In Malaysia, employers
who expect to win
the race for talent
should be prepared
to be more flexible
on remuneration
and towards hiring
expatriates’
SALARY INFORMATION: INFORMATION TECHNOLOGY
In the ERP space, companies are upgrading
their systems to achieve greater cost and
operational efficiencies. This is driving up
hiring demand in an already candidateshort market and keeping salaries on the
rise. Roles in particular demand include
ERP Consultants, Developers and Project
Managers. We expect these conditions to
continue this year.
Development
ANALYST PROGRAMMER
MS.Net/J2EE
VB6/ASP/SQL/
Delphi/C++
Oracle Forms/
Reports
China
180 - 250
150 - 220
150 - 250
Hong Kong
260 - 480
260 - 480
300 - 500
Japan
6-9
5-8
8 - 12
Singapore
52 - 68
47 - 66
45 - 65
Malaysia
60 - 80
60 - 85
60 - 85
SENIOR ANALYST PROGRAMMER
MS.Net/J2EE
VB6/ASP/SQL/
Delphi/C++
Oracle Forms/
Reports
China
300 - 400
250 - 350
250 - 350
Hong Kong
460 - 650
350 - 550
460 - 650
Japan
8 - 12
8 - 12
8 - 13
Singapore
60 - 87
58 - 83
55 - 80
Malaysia
75 - 100
70 - 100
70 - 100
DATA SPECIALISTS
Data Architect
Database
Administrator
Data Modeller
Data Warehouse
Consultant
Data Analyst
China
300 - 480
250 - 400
250 - 350
300 - 400
200 - 330
Hong Kong
500 - 900
410 - 650
400 - 700
360 - 800
360 - 600
Japan
9 - 13
8 - 13
9 - 14
9 - 15
9 - 13
Singapore
105 - 165
85 - 150
120 - 185
100 - 175
85 - 145
Malaysia
120 - 190
100 - 170
130 - 200
100 - 180
85 - 120
MANAGEMENT ROLES
Development
Team Leader
Development
Manager
China
300 - 450
400 - 600
Hong Kong
660 - 1,000
1,000 - 2,000
Japan
8 - 13
10 - 16
Singapore
105 - 180
155 - 260
Malaysia
120 - 180
180 - 240
SOFTWARE TESTING
Test Analyst
Senior Test
Analyst
QA Manager
QA Director
China
150 - 250
230 - 320
350 - 500
550 - 750
Hong Kong
420 - 800
600 - 1,000
600 - 850
700 - 1,100
Japan
6-8
8 - 10
9 - 13
10 - 15
Singapore
55 - 78
68 - 87
108 - 160
165 - 225
Malaysia
75 - 90
90 - 120
150 - 190
240 - 300
NOTES
stated in millions
Infrastructure
WAN
Cisco
Engineer
Voice/
Comms
Engineer
Network
Design
Solutions &
Enterprise
Architect
China
180 - 300
220 - 350
300 - 450
250 - 500
300 - 550
130 - 180
Hong Kong
520 - 800
560 - 1,000
560 - 1,000
710 - 1,200
900 - 1,700
450 - 600
Japan
8 - 12
7 - 11
9 - 13
10 - 15
9 - 14
4-7
Singapore
55 - 78
50 - 90
90 - 150
120 - 180
140 - 220
48 - 60
Malaysia
70 - 90
90 - 140
120 - 160
150 - 220
140 - 330
60 - 80
SYSTEMS ADM INISTRATION
Unix A dmin
Sybase/
Oracle/MS
SQL DBA
Storage
Engineer
Voice
Engineer
Network
Engineer
Windows
(Wintel)
Admin
China
250 - 380
200 - 380
200 - 280
200 - 280
180 - 280
150 - 280
Hong Kong
480 - 750
470 - 800
500 - 900
550 - 1,100
480 - 900
400 - 800
Technical
Architect
NOC
Engineer
Japan
7 - 11
7 - 11
8 - 12
7 - 11
7 - 12
6 - 12
Singapore
65 - 90
70 - 150
75 - 125
45 - 85
55 - 110
55 - 90
Malaysia
70 - 120
80 - 170
120 - 230
70 - 100
55 - 115
60 - 100
TECHNICAL SPECIALIST
Security
Engineer
Security
Consultant
Messaging
Specialist
Unix
Consultant
Pre Sales
Engineer
China
220 - 380
250 - 440
N/A
N/A
250 - 400
Hong Kong
500 - 800
600 - 1,000
620 - 1,000
400 - 800
500 - 920
Japan
7 - 11
8 - 14
8 - 12
8 - 12
9 - 13
Singapore
70 - 125
110 - 155
75 - 120
80 - 140
120 - 190
Malaysia
90 - 180
120 - 230
80 - 140
90 - 160
100 - 240
MANAGEMENT ROLES
Helpdesk
Manager
Network
Manager
IT Manager
China
280 - 480
300 - 500
400 - 800
Hong Kong
420 - 900
520 - 1,000
800 - 1,500
Japan
8 - 12
10 - 13
10 - 15
Singapore
80 - 140
90 - 160
115 - 185
Malaysia
90 - 120
100 - 160
100 - 220
NOTES
stated in millions
Business
ANALYSIS & PROJECT
Technical Business
Administration
Business/
Process Analyst
Systems Analyst
China
250 - 380
300 - 550
200 - 350
Hong Kong
480 - 620
470 - 850
400 - 700
Japan
7 - 10
9 - 13
7 - 12
Singapore
120 - 175
110 - 150
90 - 130
Malaysia
120 - 160
100 - 150
90 - 100
Project Manager
Project/
Program Director
IT Audit
320 - 600
500 - 1,000
300 - 550
Hong Kong
720 - 1,100
900 - 1,500
500 - 850
Japan
8 - 14
12 - 16
8 - 13
Singapore
120 - 190
190 - 280
90 - 175
Malaysia
120 - 180
210 - 350
110 - 190
ERP/CRM
PeopleSoft
Technical
PeopleSoft
Functional
Basis
Administration
SAP Analyst
China
220 - 380
250 - 450
N/A
150 - 330
Hong Kong
550 - 850
650 - 1,100
430 - 650
500 - 1,000
Japan
9 - 12
9 - 12
6 - 10
9 - 12
Singapore
80 - 130
90 - 170
90 - 150
75 - 130
Malaysia
90 - 150
100 - 190
90 - 160
100 - 145
SAP Functional
Consultant
ABAP Developer
Oracle Developer
ERP Project
Manager
China
250 - 400
180 - 350
220 - 350
450 - 700
Hong Kong
520 - 1,000
500 - 800
600 - 800
1,000 - 1,450
Japan
10 - 14
9 - 12
9 - 12
10 - 15
Singapore
95 - 160
55 - 85
66 - 110
120 - 200
Malaysia
90 - 170
70 - 110
80 - 120
130 - 240
China
NOTES
stated in millions
Business
MANAGEMENT ROLES
Data Centre
Manager
Service Delivery
Manager
Client Relationship
Manager
Professional
Services Manager
China
350 - 450
380 - 600
250 - 500
400 - 600
Hong Kong
650 - 1,100
700 - 1,100
700 - 900
1,000 - 1,800
Japan
12 - 15
12 - 16
12 - 16
12 - 18
Singapore
110 - 170
160 - 280
160 - 250
160 - 250
Malaysia
120 - 200
160 - 280
160 - 260
180 - 300
IT Director
Chief Information
Officer
Project Manager
Director Network
Operations
600 - 1,000
1,000 - 2,000
400 - 650
500 - 700
China
Hong Kong
1,500 - 2,500
1,500 - 3,500
720 - 1,200
550 - 850
Japan
12 - 18
15 - 25
8 - 15
10 - 18
Singapore
220 - 350
325 - 525
130 - 220
160 - 250
Malaysia
240 - 380
350 - 550
120 - 240
180 - 300
BUSINESS DEVELOPMENT
Manager
Senior Manager
Sales Director
Account Manager
China
455 - 650
500 - 1,250
850 - 2,000
390 - 845
Hong Kong
750 - 1,100
1,000 - 2,000
1,500 - 1,800
620 - 830
Japan
10 - 15
12 - 18
10 - 20
10 - 20
Singapore
120 - 220
160 - 270
250 - 480
120 - 210
Malaysia
140 - 220
160 - 290
250 - 500
130 - 220
Presales Consultant
Presales Manager
Technical Sales
Manager
Industry Consultant
China
250 - 500
600 - 900
520 - 780
250 - 450
Hong Kong
550 - 900
620 - 900
1,400 - 1,800
N/A
Japan
10 - 18
12 - 18
N/A
N/A
Singapore
130 - 215
170 - 250
170 - 250
320 - 550
Malaysia
130 - 250
180 - 280
180 - 280
350 - 500
NOTES
stated in millions
Telecom | Development
BILLING
Development Integration
Support
Architect
Business
Analyst
Manager
Japan
7-9
6-8
5-7
8 - 12
8 - 12
8 - 12
Singapore
80 - 130
90 - 140
66 - 130
110 - 170
95 - 160
100 - 170
Malaysia
90 - 160
95 - 170
70 - 140
120 - 180
100 - 180
130 - 220
CRM
Support
Architect
Business
Analyst
Manager
Japan
7-9
6-8
5-7
8 - 12
8 - 12
8 - 12
Singapore
85 - 140
95 - 160
70 - 130
120 - 200
100 - 160
120 - 210
Malaysia
90 - 150
90 - 150
60 - 120
130 - 220
110 - 180
130 - 220
SDP
Support
Architect
Business
Analyst
Manager
Japan
7-9
6-8
5-7
8 - 12
8 - 12
8 - 12
Singapore
80 - 140
90 - 150
80 - 120
100 - 170
90 - 150
90 - 170
Malaysia
80 - 150
90 - 150
70 - 120
120 - 220
100 - 160
120 - 210
OSS
Support
Architect
Business
Analyst
Manager
Japan
7-9
6-8
5-7
8 - 12
9 - 13
10 - 14
Singapore
80 - 140
75 - 130
70 - 130
110 - 180
90 - 150
110 - 190
Malaysia
80 - 140
80 - 140
60 - 120
120 - 220
100 - 160
120 - 200
BSS
Support
Architect
Business
Analyst
Manager
Japan
7-9
6-8
5-7
8 - 12
9 - 13
10 - 14
Singapore
90 - 130
75 - 130
60 - 120
110 - 180
90 - 150
105 - 170
Malaysia
80 - 120
80 - 120
60 - 120
120 - 220
100 - 160
120 - 200
VAS
Support
Architect
Business
Analyst
Manager
Japan
7-9
6-8
5-7
8 - 12
8 - 12
8 - 12
Singapore
85 - 125
75 - 120
70 - 120
100 - 170
75 - 130
90 - 170
Malaysia
80 - 130
70 - 120
70 - 130
120 - 220
80 - 145
100 - 190
EAI
Support
Architect
Business
Analyst
Manager
Japan
7-9
6-8
5-7
8 - 12
8 - 12
8 - 12
Singapore
95 - 140
85 - 140
72 - 120
120 - 190
110 - 160
110 - 180
Malaysia
80 - 130
80 - 130
60 - 110
120 - 220
90 - 150
120 - 190
NOTES
stated in millions
Telecom | Infrastructure
MPLS NETWORK
Engineer
Integration
Support
Architect
Presales
Manager
Japan
6-9
6-9
6-8
8 - 12
8 - 12
9 - 13
Singapore
70 - 120
70 - 100
60 - 100
120 - 200
140 - 210
110 - 180
Malaysia
70 - 130
75 - 110
60 - 100
120 - 200
150 - 220
120 - 190
FIXED & MOBILE NETWORK
Engineer
Integration
Support
Architect
Presales
Manager
Japan
6-9
6-9
6-8
8 - 12
8 - 12
9 - 13
Singapore
65 - 125
70 - 100
65 - 110
110 - 190
130 - 200
110 - 180
Malaysia
70 - 120
75 - 110
60 - 110
120 - 200
140 - 210
120 - 180
BTS/MICROWAVE
Field Service Senior
Engineer
Engineer
Lead
Manager
Japan
5-8
7-9
8 - 10
9 - 13
Singapore
60 - 80
70 - 110
78 - 140
110 - 170
Malaysia
70 - 90
100 - 130
120 - 170
120 - 190
VAS NETWORK
Engineer
Senior Engineer Manager
Japan
6-9
7 - 10
8 - 12
Singapore
75 - 120
90 - 120
100 - 160
Malaysia
70 - 120
100 - 130
120 - 160
Telecom | Business
ANALYSIS & PROJECT
Business
Project
Transformation Manager
Project/Program
Director
Japan
8 - 12
8 - 12
10 - 15
Singapore
140 - 250
130 - 200
190 - 300
Malaysia
150 - 250
130 - 200
200 - 400
MANAGEMENT ROLES
Service
Managed
Chief Solution Director
Delivery Mgr Services Mgr Architect
Services
Japan
8 - 11
8 - 11
10 - 15
12 - 16
Singapore
140 - 275
150 - 250
190 - 310
280 - 420
Malaysia
150 - 280
170 - 280
200 - 320
300 - 450
Senior
Manager
Account
Manager
Presales
Consultant
Presales
Manager
Technical
Industry
Sales Manager Consultant
Japan
15 - 20
7 - 12
7 - 11
8 - 12
8 - 12
8 - 16
Singapore
160 - 250
140 - 220
140 - 210
160 - 240
160 - 250
300 - 550
Malaysia
150 - 250
140 - 250
130 - 200
130 - 220
170 - 250
300 - 500
NOTES
stated in millions
LIFE SCIENCES
CHINA
China continues to attract substantial
research & development (R&D) investment
from the US and Europe as pharmaceutical
MNCs look to contain costs. This is
creating strong demand for candidates,
particularly those in biometrics and early
drug discovery. Despite demand, budgets
are being tightly controlled. Candidates
from abroad should therefore expect a
reduction in their pay, although this is
cushioned by the opportunity to take on
senior leadership roles in R&D.
In other trends, biopharmaceutical roles
are on the rise. Candidates have a strong
interest in working on large molecule
projects, which are known around the
globe for paying higher salaries.
SALARY INFORMATION: LIFE SCIENCES
CANDIDATES HAVE A STRONG
INTEREST IN WORKING ON
LARGE MOLECULE PROJECTS
Pharmaceutical companies continue to
outsource their clinical research projects
to China, which is creating high demand
for clinical quality and training candidates
to work in clinical research organizations
(CROs). CROs are also offering the
services of Medical Science Liaisons to
their clients, which is driving up demand
for these candidates.
In the biometrics field SAS Programmers
with two or more years of experience are
sought. Junior and mid-level sales and
marketing candidates are also in demand
to work on the rising number of product
and project launches being held in China.
As these candidates are in limited supply,
salary levels for those with five to eight
years of experience are on the rise.
In a final trend, medical degrees or
certifications are no longer mandatory for
commercial candidates, while business
acumen is now considered highly desirable
in junior candidates.
HONG KONG
Over the past year highly skilled
candidates have been in demand to
work in pharmaceutical and medical
technology firms. We expect solid
recruitment activity this year too,
particularly for commercial talent and
those with specific scientific expertise.
While fewer products were released last
year, pharmaceutical companies continued
to hire commercial staff. Medical science
liaison candidates were – and remain – in
particularly strong demand. Quality
assurance professionals are also sought to
help pharmaceutical companies comply
with increasing regulatory demands, both
locally and globally.
Smaller entrants to the market have been
able to attract candidates who once
worked for more prestigious firms. We
note that the availability of roles in larger
firms has declined following a burst of
merger and acquisition activity.
Candidates with skills in specific
therapeutic disciplines remain in steady
demand. Those with oncology and primary
care experience combined with strong
project management and interpersonal
skills are in particular demand.
Overall salaries have remained stable
although sign-on bonuses are being used
to entice top candidates out of an existing
job. We have also seen employers pay a
special fee to secure the early release of a
preferred candidate.
JAPAN
Recruitment activity in Japan increased last
year and we expect another strong year
ahead. However salaries remained steady in
2014, with employers instead using sign-on
bonuses to secure bilingual candidates.
Japan’s CRO market continues to grow in
size and sophistication. The ‘one-stop
shop’ is giving way to CROs specialising in
a specific functional area as a way of
competing for market share and this will
continue to shape recruitment priorities.
Clinical Research Associates and
Regulatory Affairs specialists will be in
high demand this year due to the constant
flow of new drugs and NDAs taking place
across various therapeutic areas. We
expect this increase in new products to
result in solid recruitment activity for
Marketing Product Managers, Salespeople
and Medical Science Liaisons.
In light of Japan’s aging population, more
companies are placing a greater focus on
regulatory affairs staff, especially when it
comes to succession planning. Regulatory
affairs is a particular priority for medical
device companies expanding their product
offering to maximise sales. Employers are
looking for bilingual candidates for quality
assurance, safety and good vigilance
practice roles. Cost reduction and process
improvement are primary objectives.
SINGAPORE
The biomanufacturing sector continues to
lead the demand for talent in Singapore as
new players enter the market and major
existing facilities gear up for expansion.
Last year three major organizations
opened new facilities in Singapore, adding
to the dynamic ‘biocluster’.
MNCs across the sector are actively
seeking candidates with technology
transfer experience in process, chemistry
and engineering. Competition for
commercial talent is also intensifying.
Singapore serves as a major hub for Asia,
which is the world’s fastest growing
emerging consumer market for life
sciences products.
We have also seen a change in the way
sales professionals are renumerated due to
the pressure created by Singapore’s
compliance and anti-bribery policies.
Companies no longer favour the traditional
target-driven performance bonus paid to
individual employees. The common
approach now is to pay higher fixed base
salaries and then calculate bonuses based
on the combined performance of both an
individual and his/her team.
Overall salaries continue to remain stable
in Singapore, with a premium placed on
local talent with bilingual capabilities. We
note that the mismatch in the salary
expectations of candidates and employers
continues, but we hope to see this align
more closely in the year ahead.
LIFE SCIENCES
COMMERCIAL
Country
Manager
Sales Director
Medical Rep
Account
Manager
Area Sales
Manager
China
2,500 - 4,000
1,200 - 2,000
100 - 280
200 - 350
350 - 500
Hong Kong
1,600 - 4,000
1,200 - 1,900
144 - 240
240 - 420
360 - 720
Japan
19 - 30
12 - 20
6 - 12
8 - 12
10 - 18
Singapore
200 - 300
180 - 250
40 - 60
70 - 90
80 - 120
Regional
Sales Manager
Product
Manager
Marketing
Associate
Marketing
Manager
Marketing
Director
China
500 - 800
200 - 500
120 - 250
500 - 900
900 - 1,500
Hong Kong
500 - 850
300 - 800
180 - 300
500 - 800
900 - 1,600
Japan
12 - 20
8 - 14
6 - 10
10 - 14
14 - 25
Singapore
100 - 180
75 - 100
45 - 65
75 - 95
110 - 150
Business
Development
Manager
Business
Development
Director
PR/Corp Comm
China
400 - 800
800 - 1,500
300 - 600
Hong Kong
420 - 900
900 - 1,600
300 - 750
Japan
10 - 16
12 - 20
8 - 15
Singapore
80 - 150
145 - 200
75 - 240
SFE Specialist
Medical
Information
MSL
(commercial)
China
120 - 200
120 - 350
150 - 350
Hong Kong
N/A
156 - 360
180 - 360
Japan
8 - 12
5 - 12
7 - 12
6 - 9
Singapore
70 - 100 90 - 200
70 - 180
70 - 120
TECHNICAL
Good Clinical
Practice
Manager
Good
Manufacturing
Practice Mgr
Good Laboratory
Practice
Manager
Quality Control
Manager
Pharmacovigilance
Manager
China
N/A
N/A
300 - 400
300 - 400
300 - 500
Hong Kong
N/A
N/A
N/A
360 - 540
N/A
Japan
10 - 16
10 - 16
10 - 12
10 - 12
10 - 18
Singapore
125 - 160
80 - 115
65 - 95
80 - 120
80 - 120
Medical Affairs
Officer
Medical Affairs
Manager
Medical Affairs
Director
Drug Safety
Manager
Drug Safety
Senior Specialist
China
150 - 350
350 - 550
600 - 1,000
250 - 450
150 - 250
Hong Kong
156 - 336
420- 660
660 - 1,200
N/A
N/A
Japan
8 - 14
12 - 25
15 - 35
10 - 15
8 - 11
Singapore
N/A
160 - 250
220 - 300
210 +
130 - 200
NOTES
Clinical
Specialist
stated in millions
LIFE SCIENCES
TECHNICAL
Regulatory
Affairs Staff
Regulatory
Affairs
Manager
Regulatory
Affairs
Director
Scientific
Affairs
Manager
Clinical
Research
Associate
Senior Clinical
Research
Associate
China
140 - 280
300 - 800
600 - 1,300
N/A
60 - 150
150 - 250
Hong Kong
156 - 300
300 - 800
700 - 1,300
420 - 750
120 - 240
240 - 300
Japan
5-9
8 - 14
16 - 22
10 - 14
4-6
6-8
Singapore
60 - 90
80 - 140
150 - 240
75 - 120
50 - 70
70 - 90
Clinical
Research
Manager
Project
Manager
Study
Monitor
Clinical
Research
Director
Data
Management Data
Specialist
Manager
China
250 - 500
250 - 400
150 - 300
600 - 1,000
60 - 200
200 - 450
Hong Kong
300 - 550
300 - 550
180 - 300
N/A
N/A
N/A
Japan
12 - 16
12 - 18
6-8
14 - 24
6 - 10
10 - 12
Singapore
90 - 120
90 - 140
50 - 70
150 - 200
60 - 70
70 - 90
SAS
Programmer
BioStatistic
Manager
Scientist
Senior
Scientist
Principle
Investigator
Research &
Development
Director
China
80 - 250
400 - 600
200 - 300
350 - 500
600 - 1,300
850 - 3,000
Hong Kong
N/A
N/A
180 - 360
360 - 500
600 - 1,300
850 - 3,000
Japan
6 - 10
7 - 12
6-8
8 - 10
12 - 17
18 - 30
Singapore
60 - 90
120 - 150
50 - 60
60 - 100
80 - 150
210 +
Application
Specialist
Technical
Support
Specialist
MSL
(Scientific)
HEOR/
Market Access
Staff
Physician
Medical
Writer
China
250 - 600
150 - 350
100 - 200
100 - 300
150 - 350
250 - 400
Hong Kong
276 - 600
180 - 360
144 - 300
180 - 336
180 - 360
N/A
Japan
13 - 25
6 - 12
4-9
4-8
7 - 15
5-8
Singapore
150 - 250
70 - 90
39 - 78
52 - 104
75 - 180
130 - 230
HEOR/
HEOR/
Market Access Market Access CMC
Manager
Director
Specialist
Lab Director
Lab Manager Lab Staff
China
400 - 700
800 - 1,200
100 - 200
500 - 800
300 - 450
100 - 300
Hong Kong
600 - 960
960 - 1,400
N/A
540 - 840
360 - 600
180 - 336
Japan
8 - 14
14 - 23
8 - 12
12 - 16
8 - 13
4-7
Singapore
230 - 300
250 +
180 - 250
104 - 156
65 - 105
39 - 65
Biology
Scientist
Medicinal
Chemist
Translational DMPK/
Services
Pharmacology
Scientist
Scientist
China
200 - 400
100 - 300
200 - 400
200 - 400
Hong Kong
240 - 500
240 - 456
N/A
240 - 456
Japan
4-8
4-8
7 - 12
7 - 12
Singapore
65 - 156
70 - 180
N/A
65 - 156
NOTES
stated in millions
HUMAN RESOURCES
HONG KONG
China’s HR jobs market was buoyant in
2014 with several key trends impacting the
market. One of the biggest was the
formation of a multi-dimensional HR
sector as a market allocation mechanism
took shape. Another was the rising
number of HR professionals with a
multinational corporation (MNC)
background who joined private owned
enterprises (POEs). This trend was most
obvious at the senior level, as POEs
expanding their international business
hired strategic HR professionals with
strong business acumen who could
provide advice based on their solid and
systematic MNC experience. Solid hiring activity characterized Hong
Kong’s commercial sector in 2014, and this
is set to continue largely due to the
number of foreign-owned companies
establishing operations here. This trend
has created demand for both HR Business
Partners as well as HR Generalists.
In terms of trends by industry, the most
notable has been the continued high
vacancy activity in emerging industries
such as Internet and e-commerce. HR
vacancy activity in traditional industries
such as FMCG and manufacturing remains
stable, while fewer roles are available in
professional services companies due to
the government’s policy limitation.
LOOKING AHEAD, THE
OUTLOOK FOR HR
PROFESSIONALS IN CHINA THIS
YEAR IS VERY STRONG
Looking ahead, the outlook for HR
professionals in China this year is very
strong. Candidates in demand include all
levels of compensation & benefits
functional experts, HR Business Partners,
mid to senior Talent Acquisition Managers
and Learning & Development Managers.
Many of these new hires will secure a
significant salary increase.
Candidates with MNC experience remain
highly valued. In fact MNCs, POEs, and
even state-owned enterprises (SOEs) will
offer Chinese HR professionals global
transfer opportunities in order to develop
their skills and add international
experience to their organizations. HR
professionals themselves are also openly
expressing a desire to access global
transfers as a way to develop their career.
In contrast, the financial services sector
preferred to engage HR professionals
mostly on a temporary basis in 2014 and
we expect this cautious approach to
continue in the year ahead.
We have seen shortages of compensation
& benefits (C&B) professionals in Hong
Kong and therefore expect C&B demand
to remain. On the flip side, we expect
demand for learning & development (L&D)
professionals to slow since organizations
instead prefer C&B as a retention tool.
For Business Partners and Generalists, we
predict hiring rates and salary levels will
remain steady this year across both
commerce and financial services.
Large corporations will continue to engage
contract HR Transaction Services and
Shared Services candidates with only
small increases in hiring. While salary levels are expected to remain
steady in the year ahead for most job
functions, employers will offer a higher
salary in order to secure the right senior
HR candidates. Employers are also placing
a greater focus on retention rather than
attraction, and thus they are investing
in L&D.
JAPAN
The 2014 Hays Global Skills Index revealed
that Japan’s talent mismatch, or gap
between the skills businesses need and
the skills available in the labour market, is
the most severe in Asia Pacific. As
confidence slowly returns to Japan’s
recruitment market, the foundations are
being laid for a real war for talent. To manage these conditions, organizations
have a strong need for Talent Acquisition
Specialists at the senior and junior level
who can secure the right hires in an
increasingly tight candidate market.
Talent Acquisition Managers should have
five to 10 years of experience and be
prepared to hit the ground running.
Employers expect Talent Acquisition
Managers to have immediate impact by
determining the organization’s hiring needs,
mapping the recruitment market, engaging
appropriate vendors and implementing a
recruitment strategy while managing a
team. Companies are also prepared to hire
junior executives with one to three years of
experience and invest in their development.
The focus for these recruits is very much on
providing a transactional candidate
acquisition function.
Lack of professional development is a key
reason why employees leave their
organization across a range of sectors.
This has created a greater need for HR
professionals able to develop effective
retention strategies such as learning &
development. Talent management is key
to employee retention and providing
individuals with a clear and structured
career path is seen as the best way to
demonstrate that they have a future with
their employer.
Talent management and development
teams that were reduced in recent years
are now being fully restored and tasked
with linking the people and business
strategies of the organization through
succession planning, job grading and
change management.
Meanwhile, HR Business Partners remain in
high demand in Japan but a shortage of
candidates with soft and hard skills makes
filling roles very challenging. Most
companies are looking for more aggressive
and commercially minded HR
professionals who take a hands-on
approach to translating HR strategies
into measurable results. SINGAPORE
HR salaries will remain strong this year as
the candidate shortage continues in
Singapore. We will see increased demand
for both permanent and temporary/
contract HR talent thanks to a number of
factors. These include the emergence of
new regional hubs based here as well as
an increasing number of companies
moving their headquarters to Singapore.
SALARY INFORMATION: HUMAN RESOURCES
CHINA
HUMAN RESOURCES
On top of this, HR professionals are in high
demand to help employers meet the
challenges posed by a broader candidate
shortage. We believe employers will be
open to paying a higher salary for the right
person in the year ahead, but only once
they have exhausted the search for a quality
candidate at their original lower salary level.
This approach will lead to delays in hiring
and consequently employers could miss out
on strong candidates.
Middle management HR professionals were
in particularly high demand in 2014, but by
year’s end learning & development and
compensation & benefits specialists were at
the top of the demand list. Both specialists
are seen as key to helping organizations
develop employees while retaining them,
especially high potential employees.
A gap between operational and strategic
HR Generalists at the mid to senior level is
a particular challenge for companies,
resulting in drawn out recruitment
campaigns. However, we note that the
number of roles at the senior HR
Generalist level, especially regional roles
within MNCs, has become a little saturated
in places. strategies and build all-important
succession plans.
Compensation & benefits (C&B) candidates
are in high demand to work hand-in-hand
with the business to execute these
retention strategies. Not surprisingly, we
expect the salaries for C&B niche specialists
to continue to rise in the year ahead.
We also saw continuing strong demand for
strategic HR Business Partners to support
all divisions of an organization. And we
have seen steady hiring activity at the
executive and senior levels as well.
Meanwhile, Malaysia’s shared services
sector continues to grow rapidly. These
organizations have a huge appetite for HR
talent and we expect this to continue well
into the year.
Our message to employers in 2015 is to
review their speed to hire. The HR market in
Malaysia will continue to grow and for
organizations to remain competitive they
must strive to expedite their recruitment
process to ensure they secure top HR talent.
Meanwhile, the temporary and contract
market grew strongly in 2014 and we
expect to see huge growth this year as
employers hold off making decisions about
permanent headcount, especially within
the banking sector. Other factors include
the more positive regard employers and
candidates have for the sector and a
willingness by employers to pay benefits
and bonuses to contingent staff.
MALAYSIA
SALARY INFORMATION: HUMAN RESOURCES
We expect another year of growth for
Malaysia’s HR market and salary increases
for top talent.
Several areas of demand will exist. Firstly,
candidates with regional experience are
valued by organizations moving their
regional headquarters here and are thus
able to command salary increases.
Also, as organizations shift their focus
from cost reduction to retention and
engagement, we have seen a particular
increase in demand for talent
management and organizational
development skills to strengthen retention
‘We expect another
year of growth for
Malaysia’s HR market
and salary increases
for top talent’
HUMAN RESOURCES
Regional HR Director/ Regional HR Director HR Director/Head of HR Director/
VP of HR (15+ yrs)
(10+ yrs)
HR (8-10+ yrs)
Head of HR (<8 yrs)
China
1,200 - 2,000
1,000 - 1,500
800 - 1,200
500 - 1,000
Hong Kong
1,200 - 2,000
960 - 1,500
840 - 1,200
840 - 1,200
Japan
N/A
N/A
15 - 22
12 - 15
Singapore
250 - 400
220 - 250
180 - 220
150 - 180
Malaysia
360 - 540
252 - 300
180 - 215
150 - 180
Regional HR Manager/ HR Manager/HRBP
HRBP (10+ yrs)
(10+ yrs)
HR Manager/HRBP
(5+ yrs)
Assistant HR
Manager (2+ yrs)
China
400 - 800
300 - 700
200 - 400
200 - 350
Hong Kong
660 - 840
660 - 960
420 - 540
300 - 480
Japan
12 - 17
10 - 15
9 - 13
7 - 10
Singapore
150 - 185
120 - 150
80 - 120
60 - 80
Malaysia
180 - 200
120 - 180
75 - 120
48 - 54
HR Associate
(5+ yrs)
HR Officer
(2+ yrs)
Regional Talent
Acquisition Director
(12+ yrs)
Regional Talent
Acquisition Manager
(10+ yrs)
China
150 - 300
100 - 240
800 - 1,600
500 - 800
Hong Kong
300 - 480
150 - 360
850 - 1,300
540 - 850
Japan
6-9
5-7
N/A
15 - 20
Singapore
50 - 60
40 - 50
180 - 250
150 - 180
Malaysia
65 - 80
40 - 50
180 - 240
145 - 180
TA/Recruitment
Manager (8+ yrs)
TA/Recruitment
Campus Recruiter
Coordinator (3+ yrs) (3+ yrs)
China
200 - 500
100 - 150
100 - 250
Hong Kong
360 - 600
216 - 350
280 - 600
Japan
10 - 15
4-6
5-9
Singapore
80 - 150
50 - 80
50 - 80
Malaysia
110 - 130
65 - 85
65 - 75
Regional L&D
Director (10+ yrs)
Regional L&D
Manager (10+ yrs)
L&D Manager
(5+ yrs)
L&D Officer
(3+ yrs)
China
800 - 1,200
500 - 800
200 - 650
100 - 250
Hong Kong
900 - 1,800
720 - 900
400 - 660
200 - 330
Japan
N/A
13 - 17
8 - 12
6-8
Singapore
180 - 300
140 - 180
80 - 140
60 - 80
Malaysia
215 - 300
200 - 215
120 - 145
70 - 85
NOTES
stated in millions
HUMAN RESOURCES
Regional Director
Compensation &
Benefits (12+ yrs)
Regional C&B
Manager (10+ yrs)
Manager
Compensation &
Benefits (8+ yrs)
Compensation &
Benefits Specialist
(3+ yrs)
China
800 - 1,500
600 - 1,000
300 - 600
150 - 300
Hong Kong
850 - 1.800
540 - 850
400 - 600
300 - 540
Japan
15 - 22
12 - 15
10 - 12
6 - 10
Singapore
180 - 300
150 - 180
120 - 150
80 - 120
Malaysia
200 - 220
180 - 215
90 - 150
80 - 90
HRIS Manager
(8+ yrs)
HRIS Administrator
(3+ yrs)
China
200 - 550
100 - 200
Hong Kong
420 - 600
180 - 312
Japan
8 - 12
5-8
Singapore
120 - 140
80 - 100
Malaysia
90 - 120
50 - 60
Payroll Manager
(8+ yrs)
Payroll Officer
(3+ yrs)
Shared Services
Manager (8+ yrs)
Organizational
Development
Manager (10+ yrs)
China
300 - 600
100 - 180
300 - 600
400 - 1,000
Hong Kong
420 - 576
216 - 336
420 - 720
480 - 720
Japan
8 - 12
5-7
9 - 14
10 - 16
Singapore
80 - 150
50 - 90
120 - 180
150 - 250
Malaysia
90 - 120
54 - 80
180 - 216
180 - 240
NOTES
stated in millions
OFFICE PROFESSIONALS
In 2014 we saw a number of significant
changes in China’s office professionals
market that will impact salaries this year.
Overall demand for Executive Assistants
(EAs) and Personal Assistants (PAs)
declined, which will hamper salary growth.
Many Senior EAs with up to 10 years of
experience were made redundant when
companies that had based their
headquarters in China closed or relocated
to other Asian countries.
We also saw many organizations split the
EA role into two distinct areas of
responsibility to cut costs. EAs in these
roles now support both a particular senior
executive as well as provide administration
support to a senior management team.
Salaries did not increase along with this
change, and so EAs in such roles usually
enter the jobs market. Interestingly, when
recruiting for these roles the search
criteria from employers is less rigid than it
is for traditional EA roles.
We also saw a dramatic increase in the
demand for contract and temporary EAs
and PAs. This demand will continue in the
year ahead, with employers paying higher
rates to attract top talent. Such candidates
must be as qualified as any candidate
considered for a permanent role. However,
the time to hire is much faster and hours
can be more flexible.
Preferred candidates must also
demonstrate a proven ability to multi-task
without compromising quality, a stable
work history, an ability to work quickly
and efficiently and the skills to hit the
ground running in a new role.
In the banking and financial services
sector, recruitment activity increased last
year. By the end of 2014 we saw fairly
strong levels of hiring.
As always, Legal Secretaries are in
demand and we expect this to continue in
the year ahead, especially for junior
candidates with international law,
corporate law and litigation experience.
Again, candidates should not expect
salaries that reflect this level of demand.
JAPAN
In an increasingly globalized Japan,
employers continue to seek bilingual
candidates to fill all back office functions.
Candidates are expected to be able to
communicate directly and effectively with
foreign co-workers and colleagues in
overseas headquarters and branches.
The increasing number of global
companies opening offices in Japan is also
driving up demand for bilingual staff. In
addition, start-ups and companies headed
by foreign executives want office
professionals who can manage a range of
tasks from secretarial and translation
duties to office management.
HONG KONG
2014’s steady hiring demand will continue
this year across most sectors and industries,
but office professionals will need to manage
their salary expectations carefully.
Despite demand, salary growth was
lacklustre in 2014. This trend will continue,
and so candidates need to be flexible in
their salary demands if they want to
remain competitive.
At the same time, employers have high
expectations when it comes to their
preferred candidate. For example, a major
trend in 2014 was the demand for
trilingual candidates. This trend has been
driven by Chinese companies looking to
open offices in Hong Kong as well as by
MNCs needing trilingual staff in order to
work closely with organizations in China.
IN AN INCREASINGLY
GLOBALIZED JAPAN, EMPLOYERS
CONTINUE TO SEEK BILINGUAL
CANDIDATES TO FILL ALL BACK
OFFICE FUNCTIONS
Overall, we saw solid hiring activity for all
office professional job functions in Japan
in 2014 including permanent, direct
contract, temporary-to-permanent and
temporary roles. In the temporary sector,
Sales Administrators, Assistants,
Translators and Interpreters remain in
greatest demand.
experienced candidate at a lower salary
level – a trend we expect to continue.
At the other end of the scale, we expect
the role of the EA to evolve. Rather than
be a reactive administration role, EAs will
need to be commercially aware in order to
support and even partner with the
executive they report to.
SINGAPORE
The hiring market for office professionals
in Singapore is buoyant aided by a low
unemployment rate. Overall, salaries
remain stable with no significant increases
for any roles or sectors and we expect this
to continue in the year ahead.
However, savvy office professionals have
taken advantage of the tight candidate
market to secure roles offering career
progression and thus a higher salary.
Employers are also prepared to offer extra
benefits to secure their preferred candidate
such as additional leave, medical insurance
and financial allowances.
Over the next 12 months we expect to see
high volume recruitment in the financial
services, legal services and trading
industries. Due to Singapore’s position as
an Asian hub, candidates with regional
experience will be held in particularly high
regard. Traditional roles that support a
single executive remain available but we
have also seen a rise in roles that support
multiple managers simultaneously.
During 2014 we saw high demand for
experienced Executive Assistants and
Team Secretaries across all industries. New
start-ups were a dominant employer but
we also saw solid demand from asset
management and trading firms too. We
expect this to continue.
Lastly, we have seen an uptick in the
strategic use of temporary and contract
office professionals. This sector of
recruitment is still young in Singapore but
employers and candidates alike are
increasingly seeing the benefits of the
flexibility offered by contract and temporary
roles and so we expect to see continued
growth of such roles in the year ahead.
This year, we expect salaries to stay fairly
stable. However, we have seen a trend of
replacing a departing employee with a less
SALARY INFORMATION: OFFICE PROFESSIONALS
CHINA
OFFICE PROFESSIONALS
ADMINISTRATION
Administration
Assistant
(6-12 mths)
Administration
Assistant
(12+ mths)
Project Admin
Assistant
(3+ yrs)
China
35 - 40
40 - 80
80 - 160
200 - 500
65 - 120
Hong Kong
140 - 180
200 - 300
200 - 300
400 - 600
N/A
Japan
3 - 3.5
3 - 4.5
N/A
5 - 12
4-6
Singapore
25 - 40
40 - 50
50 - 65
65 - 100
40 - 50
ADMIN/SPECIALISTS
Data Entry
Operator
Sales
Coordinator
Records O fficer
Medical
Secretary
Translator
China
N/A
75 - 150
N/A
N/A
N/A
Japan
3 - 4.5
3-7
N/A
N/A
4.5 - 8
Singapore
20 - 30
30 - 45
35 - 45
40 - 50
50 - 60
RECEPTION
Receptionist
(up to 12 mths)
Receptionist
(12+ mths)
Receptionist/
Admin Assistant
(12+ mths)
China
35 - 40
40 - 80
80 - 120
Hong Kong
130 - 200
180 - 300
180 - 300
Japan
4-5
4-6
4-6
Singapore
22 - 35
30 - 40
30 - 40
SECRETARIAL
Secretary
(up to 12 mths)
Secretary
(12+ mths)
Team Secretary
(3+ yrs)
Personal
Assistant/
Team Assistant
Executive
Assistant
(for 1 person)
China
40 - 65
70 - 250
80 - 180
130 - 200
260 - 500
Hong Kong
150 - 250
200 - 400
250 - 500
400 - 700
400 - 700
Japan
3-4
4-6
4-7
4-7
4.5 - 8
Singapore
25 - 30
30 - 45
40 - 55
45 - 65
60 - 80
LEGAL SUPPORT
Legal Secretary Legal Secretary Legal Secretary Legal Personal
(up to 2 yrs)
(2-4 yrs)
(4+ yrs)
Assistant
China
50 - 75
80 - 130
130 - 200
N/A
Hong Kong
216 - 300
300 - 350
350 - 500
400 - 500
Japan
4-5
5-6
5.5 - 7
5-7
Singapore
25 - 40
40 - 50
50 - 60
50 - 60
BANKING & F INANCE S UPPORT
Secretary
Senior S ecretary Personal Assistant Executive Assistant
China
130 - 200
200 - 300
130 - 260
400 - 650
Hong Kong
180 - 250
250 - 500
300 - 600
300 - 600
Japan
5-7
6-8
7-9
7 - 12
Singapore
30 - 40
40 - 70
45 - 60
60 - 90
PROPERTY & CONSTRUCTION
SUPPORT
Project Secretary/ Site Secretary/
Administrator
Administrator
Facilities
Administrator
Contracts
Administrator
(Residential)
Client Liaison
(Residential)
Japan
N/A
N/A
4-6
N/A
N/A
Singapore
35 - 50
40 - 50
30 - 40
40 - 55
40 - 45
NOTES
stated in millions
Office Manager
Project
Coordinator
CONTACT CENTRES
The outlook for Singapore’s contact centre
market this year is upbeat after a strong
year of growth in 2014.
Many companies are expanding their
existing operations while others are
moving their contact centres back to
Singapore after offshore options resulted
in a drop in service levels.
As a major South East Asian hub,
Singapore is regarded as an ideal location
for contact centre operations. The city
offers access to an educated, skilled and
professional workforce and boasts good
infrastructure, including
telecommunications, as well as an
attractive tax system.
Malaysia is offering some competition for
local contact centre businesses but we are
confident that the year ahead will remain
buoyant for candidates in Singapore.
Trends we have observed include a higher
number of quality roles becoming
available and a greater focus on improving
the employment experience for contact
centre employees.
MANY COMPANIES ARE
EXPANDING THEIR EXISTING
OPERATIONS WHILE OTHERS
ARE MOVING THEIR CONTACT
CENTRES BACK TO SINGAPORE
Industries such as telecommunications,
healthcare, banking and insurance
continue to dominate the employment
market. Hiring priorities include finding
candidates able to strengthen existing
teams with the goal of improving
productivity levels and service levels. This
employment trend is generating a steady
increase in demand for Trainers, Service
Quality Managers, Workforce Analysts,
Workforce Management Managers and
Customer Experience Managers.
Experienced Team Leaders, Supervisors
and Assistant Managers able to motivate
team members are also highly sought.
Salaries for most roles will remain
competitive in line with increased
competition for the best people. However,
we expect any increases in the salary scale
for junior agents to be modest.
The only black cloud on the horizon is the
need to reduce staff attrition rates but
even that has a silver lining for candidates.
Employers are tackling this important
issue through higher monetary rewards,
improving the work environment and
initiatives to boost staff morale and work
satisfaction rates.
Employers are also more receptive than
ever to developing employees along
different career paths. Where career
progression was once confined to more
senior roles in customer service, internal
opportunities are now opening up in other
departments such as training, business
development and operations support.
Telesales
Customer Service
Executive
Client Service
Executive
Manager
Singapore
30 - 36
30 - 42
45 - 54
90 - 120
INSURANCE
Telesales
Customer Service
Officer/Senior
Customer Service
Team Leader
Manager
Singapore
26 - 33
24 - 32
33 - 42
72 - 100
TELECOMMUNICATIONS
Customer Service
Officer
Team Leader
Customer Service
Executive
Manager
Singapore
24 - 32
33 - 36
40 - 55
70 - 84
OTHERS
Customer Service
Officer/Senior
Team Leader
Assistant Manager
Manager/Senior
Manager
Singapore
25 - 35
42 - 50
54 - 66
78 - 130
NOTES
• Typical salary range in ‘000
SALARY INFORMATION: CONTACT CENTRES
SINGAPORE
LEGAL
CHINA
China’s legal market was buoyant in 2014
and will continue to grow in the year ahead.
We are seeing particularly strong hiring
activity in financial services following the
PRC Central Government’s successful
strategy to increase China’s importance in
the sector. Notably, interest rates were freed
up, the RMB was pushed forward as a major
global currency, and the Shanghai and Hong
Kong Stock Exchanges were linked.
The result for legal hiring is a need for
specialists to handle various aspects of
increased China-related deal flow, both
in-house and private practice, including
bilingual Regulatory Lawyers at VP, Senior
Counsel or Senior Associate level and
above. For all cross-border international
legal work, the preference is for attorneys
with PRC as well as common law
qualifications and offshore education.
In non-financial sectors, especially
pharmaceuticals and professional services,
the clamp down on corruption has
stimulated demand for litigation and
regulatory specialists.
SALARY INFORMATION: LEGAL
HONG KONG
Law firm hiring activity in Hong Kong in 2014
was notably strong in the arbitration &
dispute resolution (ADR) and capital markets
(CM) practice areas. This pattern should
continue this year, and we expect to see
particularly high levels of competition for CM
talent from firms looking for experienced fee
earners. We’ll also see flow on demand for
in-house CM Lawyers amongst sponsor
banks. ADR specialists, across commercial
litigation, arbitration and regulatory
investigations, will continue to be in demand. Driven by the clamp down in mainland China,
increased scrutiny over business practices will
create demand for investigations specialists as
well as non-contentious regulatory specialists.
IN THE COMMERCIAL INHOUSE MARKET DEMAND WILL
CONTINUE TO INCREASE FOR
CANDIDATES WHO ARE HONG
KONG-QUALIFIED WITH CHINESE
LANGUAGE SKILLS
The focus on regulating traditional
markets will continue to force down
demand for derivatives, structured
products and other investment
banking specialists. However, this also
means increased demand for specialist
Lawyers in alternative financial areas such
as fund and asset management, private
banking and insurance.
In the commercial in-house market
demand will continue to increase for
candidates who are Hong Kong-qualified
with Chinese language skills.
Meanwhile, Hong Kong conglomerates are
increasingly receptive to junior candidates
straight out of law firms to fill in-house
roles, although prior in-house experience
is still preferred. Higher demand is
projected for Property and Construction
Lawyers, as well as those with leasing and
IT&T industry experience. Changes to the
Hong Kong Companies Ordinance in 2014
have created more roles for listed
Company Secretaries.
With more firms opting to pay Hong Kong
Lawyers on the New York scale, salary has
become a challenge for cost-conscious
in-house employers, where average increments
range from three to seven per cent.
JAPAN
Overall, salary levels for both in-house and
private practice legal professionals
remained steady in 2014.
The Japanese government continued to
progress with monetary reform late into
last year and this work is expected to
continue this year. However, the
depreciation of the yen has not yet led to
expected gross gains for the economy and
therefore high demand for imports
continue to counter the effects of
increased exports.
Meanwhile, the 2020 Tokyo Olympics has
been slow to attract a high volume of
work. Therefore Japanese firms are
looking outside the country for
assignments, particularly the big four firms
which are spearheading overseas
expansion in Asian economies such as
Singapore and Shanghai. International law
firms continue to maintain their
recruitment demand for M&A, capital
markets and project finance professionals.
In the commercial in-house market,
Japan’s ageing population is leading to
increased business activity in the life
sciences sector. Growing clinical research
organizations, pharmaceutical companies
and medical equipment manufacturers
and distributors will all recruit.
The finance industry will also be active as
firms fill legal roles that remained vacant
last year. On the compliance side,
implementing stricter compliance
enforcement is a growing trend. Finally,
hiring within IT&T and manufacturing will
remain relatively stable.
SINGAPORE
One of the biggest changes to Singapore’s
recruitment market in 2014 was the
introduction of the Fair Consideration
Framework. While this change impacted a
range of industries, in the legal sector the ratio
of local to foreign professionals remained
virtually unchanged thanks to the seemingly
endless expansion of MNCs in Singapore.
As the legal gatekeepers of an MNC in a
growth cycle, employers placed – and
continue to place – high value on legal
candidates with international experience
and a solid understanding of the global
business and legal arena. While such
experience can be found in Singaporeans
who have studied and worked abroad, the
limited supply of such professionals is the
reason that the bulk of candidates
continue to be foreign.
In terms of hiring activity, last year we saw
particular growth for legal professionals in
Singapore’s oil & gas, life sciences, banking
and media industries. Within private
practice, the hiring of foreign Lawyers,
particularly from Indonesia, Vietnam,
Malaysia and Thailand, increased. This
growth was mainly attributed to the
expansion of Singaporean businesses into
these jurisdictions, which saw legal practices
react accordingly to accommodate the new
needs of their clients.
Looking ahead, candidates with strong
Mandarin skills will be prized, while those
with Chinese drafting capabilities will be
sought across all industries.
LEGAL
PRIVATE PRACTICE
Paralegal
Newly qualified 1 year PQE
Hong Kong (International Firm)
240 - 480
720 - 864
780 - 945
Hong Kong (NY/US Firm)
264 - 600
672 - 1,240
960 - 1,320
China (International Firm)
120 - 360
480 - 980
560 - 1,040
Japan
4 - 10
9 - 12
10 - 14
Singapore
50 - 80
70 - 90
80 - 100
2 years PQE
3 years PQE
4 years PQE
798 - 992
861 - 1,200
900 - 1,266
1,044 - 1,430
1,200 - 1,630
1,140 - 1,780
620 - 1,130
750 - 1,290
800 - 1,410
Japan
12 - 15
14 - 18
15 - 19
Singapore
90 - 150
110 - 170
120 - 200
5 years PQE
6 years PQE
7 years PQE
950 - 1,380
997 - 1,477
1,047 - 1,595
1,595 - 1,940
1,660 - 2,050
1,800 - 2,170
900 - 1,530
1,000 - 1,620
1,100 - 1,710
Japan
16 - 22
18 - 24
20 - 25
Singapore
130 - 270
180 - 300
200 - 350
8 years PQE
Salaried P artner Salaried Partner Professional
(Junior)
(Senior)
Support Lawyer
1,200 - 1,722
1,680 +
2,400 +
780 - 1,200
1,920 - 2,320
1,940 +
3,100 +
780 - 1,200
1,200 - 1,840
1,860 +
3,100 +
600 - 980
Japan
20 +
20 +
25 +
11 +
Singapore
220 - 380
200 - 300
270 - 400 +
80 - 120
COMMERCIAL IN-HOUSE
0-3 PQE
4-6 PQE
Legal Counsel
(7-10+ PQE)
Senior Counsel
(10+ PQE)
General Counsel
China
96 - 420
192 - 750
380 - 1,500
650 - 2,000
950 – 4,000 +
Hong Kong
360 - 912
600 - 1,380
850 - 1,450
1,200 – 2,200
1,560 – 3,500 +
Japan
5-8
7 - 12
9 - 18
12 - 30
18 - 40 +
Singapore
45 - 80
80 - 180
100 - 200
200 - 350
300 - 400 +
FINANCIAL SERVICES IN-HOUSE
0-3 PQE
4-6 PQE
Legal Counsel (7-10+ PQE)
Senior Counsel
(10+ PQE)
General Counsel
China
200 - 600
500 - 1,000
800 - 1,500
1,000 - 2,000
1,500 - 3,000+
Hong Kong
550 - 1,200
900 - 1,500
1,000 - 2,000
1,500 - 2,500
2,000 - 3,000+
Japan
5 - 14
9 - 18
15 - 20
15 - 32
22 - 40 +
Singapore
60 - 130
100 - 220
150 - 250
220 - 350 +
320 - 400 +
NOTES
stated in millions
• Private Practice Associate salaries stated are generally
representative of the total package value
• Typical benefits on top of In-House salaries shown
include performance based bonuses
SALES & MARKETING
CHINA
HONG KONG
product marketing or industry knowledge.
Recruitment activity and salary levels
remained steady in 2014 for most sales and
marketing professionals, with the exception
of digital marketing and ecommerce. As
very active areas of recruitment, the short
supply of suitable candidates placed
upward pressure on salaries.
Hong Kong remains the preferred location
for many businesses to establish their
regional headquarters. This generated
healthy demand for highly skilled sales
and marketing professionals in 2014.
Finally, law firms favour bilingual
candidates with a legal background.
Business development candidates remain
in short supply.
SALARY INFORMATION: SALES & MARKETING
We will continue to see high demand for
these skills in the year ahead, especially for
marketing candidates with data experience
or a background in consumer insights or
market research. Digital advertising and
social media now account for a greater
portion of marketing spend for most
consumer brands and the use of big data is
increasingly commonplace. As a result,
marketers are expected to know how to
use data to identify industry trends,
understand customer behaviour, provide
consumer insights and pinpoint issues.
We have also seen the growth of in-house
digital teams in order to create content for
online campaigns and work alongside
dedicated SEO and data insights teams. It
has become more critical than ever for
companies to understand the ROI of the
marketing spend as well as where, how
and when to engage with their customers.
In the retail sector, store management
professionals responsible for generating
revenue are the priority hire for employers.
Employers are keen to recruit candidates
with both local and overseas experience in
retail operations.
China’s retail sector has been maturing in
recent years with consumers prepared to
take their business elsewhere if they don’t
receive the service they want. As a result,
candidates with solid CRM experience will
remain in solid demand.
Job seekers should be prepared for a
lengthy process. In 2014 more complicated
selection processes became commonplace.
While such processes are designed to
minimise the risk of a wrong hire, they
also lengthen the process significantly.
For example, the hiring cycle is often now
between six and 10 weeks, while for a
management-level role it can be up to
six months.
Digital marketing experts remain in high
demand but short supply. Companies are
keen to develop their own digital teams
and consequently candidates with
technical and strategic experience in SEO,
CRM, content marketing, online
community management, online payment
systems and mobile marketing will remain
highly sought after this year.
In the retail sector, Hong Kong is still the
number one shopping paradise with 84
per cent of all luxury fashion retailers
present here. Store Managers are in short
supply, forcing employers to hire less
experienced candidates and invest in their
training and development. We have also
seen employers promote Area Managers
to meet business needs.
WITHIN FINANCIAL AND
PROFESSIONAL SERVICES,
EMPLOYERS WANT CANDIDATES
WITH SUPERIOR WRITING
SKILLS AND INTERNATIONAL
CORPORATE EXPERIENCE
Given demand, seasoned Retail Managers
are becoming more selective when choosing
roles and will consider a brand’s sales
performance before making a decision.
In the FMCG sector we have seen a rise in
demand for mid-level candidates,
particularly by food and beverage
employers. Brand Managers and Key
Account Managers remain in good
demand and to secure higher salaries,
candidates have been favouring Principals
or Distributors instead of large retailers.
Within financial and professional services,
employers want candidates with superior
writing skills and international corporate
experience. However, financial services
firms will consider candidates with
‘Recruitment activity
and salary levels in
China remained steady
in 2014 for most
sales and marketing
professionals, with
the exception of
digital marketing
and ecommerce’
SALES & MARKETING
As we’ve seen in other countries, the main
focus from employers has been on digital
marketing skills. The greatest demand is
coming from companies with consumer
brands, which are increasingly focused on
profitable growth and are turning to
digital marketing as the most effective
way to join their online and offline
channels to drive sales. They are recruiting
social media, data, mobile and content
marketing professionals.
WITHIN SALES, SPECIFICALLY
WITHIN THE IT&T INDUSTRY,
BASE SALARIES AND
INCENTIVE PAYMENTS FOR
SALES PROFESSIONALS HAVE
INCREASED
candidates with overseas experience to
help them explore business development
opportunities overseas.
In a final trend, salaries remained largely
unaffected by the weakened yen in 2014.
SINGAPORE
We observed a steady flow of recruitment
activity across both sales and marketing in
2014. The standout industries for activity
were industrial manufacturing and retail,
partly due to several new organizations
and brands choosing Singapore as their
regional headquarters.
We expect the first half of 2015 to be very
active, especially for sales, business
development, brand management, and
internal communications candidates. Job
offers will link potential bonuses and
commissions to specific business
objectives and achievements.
Given the shortage of digital talent,
competition is fierce between employers.
In some cases, we have even seen bidding
wars occur at the job offer stage as
employers jostle to secure a preferred
candidate. As a result, digital candidates
can expect bigger salary increases this
year, although it must be noted that rising
labour costs and shrinking margins are not
sustainable long-term.
A candidate-short market for niche skills
remains in Singapore, but despite this
employers are taking a more cautious
approach to hiring. This includes making
greater use of psychometric testing to
ensure a potential hire is a good cultural
and job fit. Reference checks for
candidates are also increasingly stringent
and require 360-degree feedback,
including from customers and suppliers.
For all other marketing roles, salaries have
remained steady.
In the consumer sector, global teams and
categories have consolidated, resulting in
potential reductions in headcount.
Companies looking to hire excellent people
can now do so while offering remuneration
packages near parity since candidates are
focusing on long-term career growth
rather than a salary increase.
Within sales, specifically within the IT&T
industry, base salaries and incentive
payments for sales professionals have
increased. The highest increases have been
applied to the incentive portion of
remuneration packages as organizations
compete more aggressively for market share.
In the industrial sector the maturing of the
market has created high demand for sales
professionals in the early part of their
careers. A dearth of bilingual salespeople
with an engineering degree and
experience working for an OEM remains
the biggest challenge for employers
looking to increase headcount. Foreign
companies have a particular need for
candidates with experience selling through
Japan’s major engineering, procurement
and construction firms. Japanese
companies continue to look for bilingual
MALAYSIA
We saw buoyant recruitment activity for
sales and marketing professionals across
the board in 2014, with particularly strong
demand in the IT&T, media, FMCG and
manufacturing industries. In fact, vacancy
activity was high throughout the entire
year and we expect this to remain the
case in the year ahead.
A key driver of activity is South East Asia’s
impressive economic growth and the fact
that many companies are setting up
businesses in Malaysia to be part of the
action. More companies are opening in the
country, ranging from start-ups to large
established MNC’s that previously did not
have a strong Asian focus.
Despite this activity, sales and marketing
salaries will remain fairly steady this year,
as they have done in recent years. The
Malaysian Government is currently in the
process of introducing reforms to shift the
entire country into high wage earning
territory, but this will take time.
While salaries remain steady for the most
part, we will see high demand for Brand
Managers, Product Managers, Sales
Managers, Sales Directors and Digital
Marketers.
We also expect to see demand for
Shopper Marketers, especially in the FMCG
space where there has been a shift of
focus to consumer marketing as
competition gets stronger.
Regional recruitment and relocation is a
growing trend, with companies across
South East Asia looking to Singapore for
executives who can provide ‘best practice’
experience. Companies looking to fill roles
in the C-suite in countries such as
Cambodia and Myanmar are offering
Singaporeans attractive expatriate
packages to move, a previously rare
practice. These senior roles tend to be in
management and marketing, with a focus
on new product development.
SALARY INFORMATION: SALES & MARKETING
JAPAN
SALES & MARKETING
MARKETING
Marketing
Director
Marketing
Manager
Marketing
Executive
China
800 - 1,800
500 - 800
200 - 400
Hong Kong
1,000 - 1,600
500 - 900
210 - 360
Japan
10 - 18
7 - 12
5-8
Singapore
160 - 300
90 - 180
35 - 60
Malaysia
360 - 600
120 - 180
36 - 60
Direct Marketing Channel
Manager
Manager
Global Brand
Manager
Product/Brand
Manager
CRM Manager
China
450 - 800
450 - 800
700 - 1,200
300 - 450
300 - 600
Hong Kong
480 - 780
550 - 700
900 - 1,500
480 - 870
400 - 800
Japan
8 - 12
6-9
12 - 18
6 - 10
8 - 10
Singapore
70 - 150
70 - 150
100 - 180
70 - 150
85 - 130
Malaysia
150 - 180
150 - 220
180 - 240
84 - 120
72 - 96
ADVERTISING
Group Account
Director
Account
Director
Account
Manager
Account
Executive
Media Planner
China
650 - 900
400 - 700
280 - 400
130 - 250
N/A
Hong Kong
700 - 1,000
450 - 700
360 - 550
180 - 360
300 - 540
Japan
11 - 17
10 - 15
6-9
4-7
4-7
Singapore
120 - 220
100 - 160
60 - 100
40 - 60
60 - 90
Malaysia
150 - 360
120 - 180
84 - 130
48 - 84
48 - 96
Executive
Creative
Director
Creative
Director
Art Director
Copywriter
China
1,000 - 2,000
600 - 1,000
200 - 450
150 - 250
Hong Kong
N/A
540 - 720
480 - 600
240 - 600
Japan
10 - 18
7 - 12
5-8
5-8
Singapore
150 - 180
120 - 150
120 - 150
40 - 70
Malaysia
N/A
N/A
N/A
N/A
COMMUNICATIONS
Marketing
Public Relations/
Communications Communications Internal
Corporate
Manager
Manager
Communications Communications
China
220 - 420
300 - 700
N/A
300 - 350
Hong Kong
400 - 1,000
300 - 1,200
350 - 1,000
300 - 1,200
Japan
7 - 11
8 - 12
6-8
7 - 10
Singapore
70 - 150
80 - 160
80 - 160
80 - 160
Malaysia
100 - 150
84 - 120
84 - 120
100 - 150
NOTES
stated in millions
SALES & MARKETING
DIGITAL MARKETING
Digital/Online
Marketing
eCommerce
Manager
Manager
Digital
Communication/
Content Manager
Web
Producer
China
N/A
156 - 260
N/A
N/A
Hong Kong
480 - 840
480 - 840
480 - 780
N/A
Japan
8 - 12
8 - 15
6 - 10
5-7
Singapore
80 - 180
80 - 180
60 - 100
60 - 120
Malaysia
120 - 180
96 - 120
60 - 96
N/A
MARKET RESEARCH
Market Research/
Consumer
Insights Director
Market Research/
Consumer
Insights Manager
Market Research/
Consumer
Insights Analyst
China
600 - 800
300 - 600
150 - 250
Hong Kong
500 - 1,200
400 - 800
300 - 600
Japan
7 - 10
4-8
4-6
Singapore
160 - 250
100 - 180
60 - 90
Malaysia
N/A
96 - 180
48 - 72
RETAIL
Visual
Service
Merchandising Merchandising Delivery
Manager
Manager
Manager
Category
Manager
Customer
Service
Manager
Retail
Manager
China
350 - 600
350 - 550
N/A
600 - 700
200 - 400
250 - 600
Hong Kong
480 - 750
420 - 720
380 - 540
400 - 600
360 - 480
720 - 840
Japan
5-7
5-8
6-9
8 - 10
6-9
7 - 10
Singapore
70 - 150
70 - 130
N/A
100 - 200
60 - 100
80 - 120
Malaysia
100 - 180
N/A
120 - 140
130 - 150
120 - 140
72 - 96
SALES
Country
Manager
Regional
Sales
Director
Sales
Director
Business
Development
Manager
National
Sales
Manager
Sales
Operations
Manager
China
1,000 - 2,000 800 - 1,200
800 - 1,500
300 - 700
600 - 1,100
260 - 450
Hong Kong
1,050 - 1,500
1,000 - 2,500 840 - 1,200
480 - 720
800 - 1,000
480 - 720
Japan
15 - 50
15 - 25
15 - 25
6 - 14
12 - 18
6 - 10
Singapore
250 - 500
180 - 400*
150 - 300
80 - 250*
100 - 200
80 - 160
Malaysia
350 - 530*
240 - 530*
200 - 480*
90 - 120*
180 - 480*
180 - 200*
Area Sales
Manager
Sales
Manager
Advertising
Sales
Sales
Executive
Sales
Engineer
Inside Sales
China
150 - 500
100 - 230
150 - 500
N/A
N/A
N/A
Hong Kong
480 - 720
360 - 550
N/A
200 - 350
N/A
200 - 350
Japan
8 - 12
8 - 12
5-9
5 - 10
6-9
4-7
Singapore
90 - 180
60 - 180*
40 - 100
40 - 100*
45 - 70
40 - 100
Malaysia
96 - 150
96 - 144
60 - 228*
36 - 60
84 - 120
N/A
NOTES
* With bonus
stated in millions
SUPPLY CHAIN
CHINA
The supply chain has been a focus for many
organizations in China as they look for
efficiencies in the face of declining profits.
This has fuelled demand for Sourcing
Managers who can lead cost-down and
localization projects. One of the biggest
challenges for such professionals has been
the need to balance cost with quality.
While China is no longer considered a lowcost sourcing option due to rising wage
pressure, experienced supply chain
candidates do remain in strong demand
and those with solid skills and experience
can secure their next role.
In addition, more Lean and Six Sigma
approaches are being implemented into
the supply chain. As a result, candidates
with sound knowledge of these
approaches are in high demand.
SALARY INFORMATION: SUPPLY CHAIN
Within the consumer segment,
e-commerce remains strong, while other
traditional channels face pressure from
growing leasing costs. Given strong online
demand, most companies are investing
heavily in the distribution channel and
therefore candidates with solid experience
in distribution network build-up and
optimization are in demand. Supply chain salaries are expected to
increase slightly compared to last year.
China’s growing economy and high
demand for supply chain talent will
contribute to increases in the year ahead.
HONG KONG
Hong Kong’s unique position as a sourcing
and supply chain hub for companies
operating within Greater China and across
the wider Asia Pacific region continues to
fuel an active recruitment market and high
demand for a broad range of skills.
In 2014 hiring activity remained consistent
across the majority of sectors and this will
continue this year as many industries look
to increase the effectiveness of their supply
chain operations. The retail, sourcing and
pharmaceutical sectors will all continue to
actively recruit. Meanwhile demand will rise
for supply chain professionals with strong
planning and forecasting skills in the
manufacturing and consumer goods
sectors as companies look to improve the
sophistication of their demand planning
and inventory management.
This year we will also see increasing demand
for supply chain candidates with strong
process improvement and optimization skills
as organizations continue to review the
overall efficiency of their end-to-end supply
chain operations and systems.
JAPAN
Japan’s supply chain and logistics market
continues to experience healthy and steady
growth. The key trend is a focus on
specialization as major corporations
diversify their supply chains to make a clear
distinction between procurement, order
management and inventory control. This
has resulted in the creation of more jobs
and a better command of the SCM process. Another trend is the higher demand for
process improvement experts to reduce
operational inefficiencies and costs.
External consulting companies are also
establishing SCM and operations units to
meet the needs of the market. As a result,
candidates with qualifications in Kaizen,
such as Six Sigma, LEAN, and TPS, are in
high demand but short supply.
We’ve also seen an abundance of
warehouse and logistics roles created. This
is the result of the continuous push from
e-commerce and domestic retailers for
countrywide, same day delivery.
Overall salaries are typically now at the
higher end of each range. While they are
slightly higher than last year, we are yet to
see a total shift in the salaries offered. The
demand for higher skilled professionals
will however lead to such a shift in the
year ahead.
SINGAPORE
Singapore’s supply chain market continues to
evolve as a result of the increasing need for
more complex regional logistics solutions.
Looking firstly at the technical industries,
we’ve seen an increase in supply chain
activity in life sciences and information
technology, where employers looked for
niche logistics solutions. In most demand
have been candidates with project
management and solutions based supply
chain experience.
We’ve also seen a growing need for
candidates with project management and
technology implementation skills as
companies establish new operations or
look at continuous business improvement.
This trend was not limited to life sciences
and information technology; it was also
seen in manufacturing and FMCG.
Within the manufacturing and life sciences
industries high demand continues to exist for
specialist candidates such as Process
Engineers and Project Managers. As a result,
salaries for these professionals have increased.
The third party logistics segment is
growing. Companies that lack the size or
investment in South East Asia to warrant
their own warehouse and transport
activities are driving this demand.
However given the perceived lower
salaries on offer in this segment,
employers find it difficult to attract and
retain suitable candidates.
MALAYSIA
Activity levels in Malaysia’s supply chain
recruitment market increased in 2014 and
we expect this to continue in the year ahead. Greater competition from China and
Indonesia has forced businesses with
operations in Malaysia to focus on increasing
efficiencies within the supply chain to save
costs. This creates high demand for
candidates with a strong track record working
on large improvement projects (Kaizen, LEAN
and Six Sigma methodologies).
Another trend of note is the increased
demand from service providers for
logistics, warehouse and operations
professionals. This is the result of both
expansions and high attrition rates within
the industry, which are factors that will
continue throughout the year ahead. Finally, employers in the FMCG industry
are unwilling to consider candidates
without prior FMCG experience. As a
result, the demand for such candidates is
very high and salaries have increased
above typical market rates for those
changing jobs.
SUPPLY CHAIN
Operations
Manager
Distribution
Manager
Transport
Manager
Warehouse
Supervisor
China
420 - 600
400 - 500
360 - 420
180 - 240
Hong Kong
455 - 600
455 - 600
455 - 520
325 - 420
Japan
7-9
7-9
7 - 11
4.5 - 6
Singapore
65 - 91
65 - 95
60 - 90
52 - 72
Malaysia
104 - 156
130 - 234
208 - 325
52 - 78
Warehouse
Manager
Stock/
Inventory
Controller
China
240 - 360
144 - 192
Hong Kong
420 - 560
234 - 286
WAREHOUSING/DISTRIBUTION
Japan
7-9
4.5 - 7
Singapore
72 - 98
24 - 43
Malaysia
104 - 195
65 - 91
THIRD PARTY LOGISTICS
Operations
Executive
Operations
Manager
Sea/Ocean
Freight
Manager
Air Freight
Manager
Key Account
Manager
China
80 - 180
180 - 350
180 - 300
180 - 300
144 - 280
Hong Kong
325 - 420
520 - 585
520 - 585
520 - 600
455 - 520
Japan
3.5 - 6
5.5 - 8
7 - 10
4-7
7 - 10
Singapore
26 - 45
65 - 91
59 - 85
65 - 85
65 - 130
Malaysia
52 - 65
91 - 130
104 - 156
104 - 156
104 - 156
TRANSPORT
Operations
Manager
Transport
Manager
Transport
Coordinator
Fleet
Manager
Fleet
Controller
China
250 - 400
150 - 280
80 - 130
180 - 300
144 - 216
Hong Kong
455 - 600
360 - 520
260 - 338
390 - 481
338 - 390
Japan
6 - 10
6-9
4.5 - 6
5 - 7.5
4.5 - 6
Singapore
65 - 85
65 - 90
39 - 52
52 - 65
52 - 65
Malaysia
91 - 143
75 - 104
30 - 58
156 - 221
26 - 52
Import/
Export Clerk
Trade
Compliance
Manager
China
96 - 144
420 - 600
Hong Kong
195 - 234
455 - 715
Japan
3.5 - 6
7 - 10
Singapore
30 - 49
78 - 169
Malaysia
26 - 52
195 - 260
NOTES
stated in millions
SUPPLY CHAIN
SUPPLY CHAIN
Supply Chain
Supply Chain Analyst Manager
Supply Chain
Planner
Order Fulfilment
China
130 - 240
240 - 600
130 - 240
110 - 190
Hong Kong
264 - 360
600 - 780
325 - 455
325 - 520
Japan
6 - 10
8 - 12
6-8
4.5 - 6.5
Singapore
48 - 66
72 - 120
54 - 84
36 - 60
Malaysia
52 - 78
104 - 195
65 - 91
52 - 78
Demand Planner
Materials Manager
Logistics Manager
Supply Chain
Director
China
130 - 190
240 - 500
200 - 400
600 - 1200
Hong Kong
325 - 480
390 - 520
585 - 715
740 - 975
Japan
6-9
6 - 10
8 - 12
15 - 20
Singapore
48 - 72
54 - 84
72 - 96
144 - 240
Malaysia
65 - 91
130 - 195
104 - 195
390 - 600
NOTES
stated in millions
PROCUREMENT
The overall picture is positive for China’s
procurement jobs market. Highly-skilled
direct and indirect procurement
professionals are in high demand,
particularly in small and medium-sized
organizations that are focused on lowering
costs and controlling compliance by
standardizing and optimizing internal
procurement process.
We are also seeing increased demand for
indirect procurement candidates as
organizations centralize this function.
Candidates with experience in various
commodities and the ability to perform
cost analysis are in greatest demand,
and consequently we expect their salaries
to increase.
Although China’s economy is starting to
recover, most manufacturing companies
remain in a tight situation. As a result, we
have seen high levels of candidate
movement. Many candidates are even
considering jobs in other cities or industries
in order to improve their career prospects.
Looking at the year ahead, we expect to see
a more steady economy and active jobs
market for procurement professionals. Salary
increases will be given to those with strong
technical skills and cost-down ability.
HONG KONG
In Hong Kong we have seen a tangible
increase in hiring activity for midmanagement to senior level procurement
professionals across both the direct and
indirect disciplines. This is the result of
consistently improving macro economic
conditions and the continuing focus of
employers on controlling costs and
sourcing value-driven raw materials.
Many organizations are moving towards
more aggressive commodity sourcing
strategies. With Hong Kong continuing to
serve as a sourcing hub for the
manufacturing and retail sectors, demand
has increased for Procurement Managers
with strong analytical and commercial
skills and the ability to provide input into
strategic decision making.
Hong Kong has also seen a strong increase
in demand for indirect procurement
professionals with specific category
management experience. Candidates with
expertise across the IT, human resources
and property/facility management
categories are highly sought after.
We expect the demand for talent to
continue in the next 18 months. At the
same time, the pool of available
procurement candidates will decrease,
which will lead to a moderate increase in
average salaries.
JAPAN
Indirect procurement was the key trend in
2014, and will remain a prominent feature
of Japan’s recruitment market this year. A
relatively new position within the
Japanese market, companies are
beginning to rationalize the return on
investment of a solid indirect procurement
professional. It is now recognized that
such a professional can minimize costs
and increase the bottom line.
As a result, the demand for bilingual
indirect procurement specialists will
remain high in all industries.
At the same time, we will continue to see
a decline in direct procurement hiring as
manufacturers lag against international
competition, especially in the semiconductor and consumer electronics
space. Given the weakening yen, this
impacts the purchasing power of
companies. This may change if we see a
positive impact from government policy
and an increase in real growth, and hence
production. If this occurs, there will be a
significant increase in direct procurement
vacancy activity.
Salaries are expected to continue to grow in
accordance with positive economic factors.
SINGAPORE
Singapore’s procurement market
experienced an exciting 2014. One of the
major drivers of activity was the strong
uplift in the number of companies
relocating their global procurement
headquarters to Singapore.
Another was the need for organizations to
seek out and relocate global talent to
Singapore. While other sectors were reducing
the number of foreign hires, procurement was
actively recruiting such talent.
As the market moves towards more
complex sourcing solutions and global
models, companies are implementing
effective technology solutions to manage
their operations. This is most notable
within the banking and financial services
industry, with demand high as a result for
Category Managers with experience
procuring systems relating to front, middle
and back office functions.
The manufacturing, fast moving consumer
goods and life sciences procurement areas
all remained stable in 2014. Although there
were fewer C-suite and senior executive
roles available, the demand for experienced
middle-management professionals saw
salaries increase between 15 and 20 per
cent for those who moved jobs.
Looking ahead, given that Singapore is an
affordable cost base that is close to China
and other Asian countries and features an
available talent pool, it will remain an
attractive hub for procurement operations.
MALAYSIA
Malaysia’s procurement professionals are
experiencing a strong market. Demand is
greatest for those with international
exposure. Candidates with experience
working in a Shared Service Centre (SSC)
are also highly sought as more
international companies utilize the SSC
model and choose Malaysia as their
preferred location. Another trend to watch will be the
increasing number of roles within technical
categories. In particular demand will be
candidates with experience related to the
oil & gas, chemical and power industries. We have already seen an increased
number of job opportunities for Buyers
and with a number of large projects
awarded at the end of 2014, demand will
spike in early to mid 2015. Given the high demand for skilled
procurement professionals, salaries will rise
across the board. Having said this,
employers are starting to push back by
reducing the level of salary increase
awarded to staff. This is in response to the
high number of candidates who have moved
roles frequently over a short period of time. 2015 Hays Salary Guide - Asia | 83
SALARY INFORMATION: PROCUREMENT
CHINA
PROCUREMENT
Chief Procurement
Officer/Head of
Procurement
Procurement
Manager
Category M anager
Buyer
China
700 - 1,200
300 - 600
250 - 400
150 - 200
Hong Kong
1,020 - 1,680
420 - 600
540 - 780
300 - 420
Japan
15 - 24
8 - 13
7 - 11
3.5 - 7
Singapore
195 - 290
70 - 110
78 - 110
39 - 65
Malaysia
260 - 520
130 - 195
104 - 156
52 - 91
Sourcing Director
Sourcing Manager
Purchasing Director
Purchasing Manager
China
700 - 1,200
300 - 600
700 - 1,200
300 - 600
Hong Kong
720 - 1,020
420 - 540
720 - 1,020
360 - 540
Japan
11 - 15
8 - 13
10 - 15
7.5 - 10
Singapore
200 - 250
78 - 110
156 - 220
70 - 90
Malaysia
390 - 650
130 - 260
260 - 390
104 - 156
NOTES
stated in millions
EDUCATION
China’s education sector has seen dynamic
growth in recent times and this year
promises to be another big one for
recruitment across a wide range of roles,
from teachers to business executives.
The level of investment across the sector
will remain high. As a result, staff will
receive both competitive salary packages
and development opportunities. In
addition, education providers from early
childhood centres to tertiary institutions
and adult education centres are focused on
further developing their suite of products
and services to meet growing demand.
While some students still seek educational
opportunities abroad, China is fast
becoming a preferred education
destination in its own right. International
K-12 school education is leading growth in
the sector in line with international trends.
Given the increased student demand,
vacancies for foreign Teachers are forecast
to rise this year. As a result, we expect the
already competitive remuneration
packages to increase slightly.
EMPLOYERS WANT POTENTIAL
HIRES TO HAVE POST GRADUATE
TEACHING QUALIFICATIONS
PLUS EXPERIENCE TEACHING IN
A REPUTABLE SCHOOL
Employers want potential hires to have
post graduate teaching qualifications plus
experience teaching in a reputable school.
Teachers able to contribute to the
development of the values and reputation
of a school and its students are held in
highest regard in China. Employee benefits
include excellent professional development
opportunities. Teachers with families can
also expect to have their children’s
schooling provided.
Education reforms have paved the way for
an increasing number of overseas
academic institutions to set up joint
campuses with local education providers.
This development has seen the creation of
a range of roles in areas from program
management, admissions and student
services to marketing and public relations. Despite the support for the residencybased traditional education model, many
educational organizations are also
investing in the online delivery of
education, which is creating demand for a
range of digitally savvy professionals with
experience targeting a mass consumer
audience. Candidates in demand include
those with social media, online sales &
marketing, big data and mobile
applications expertise.
EARLY YEARS/
KINDERGARTEN/MONTESSORI
Manager/
Head Teacher Deputy
Early Years
Teacher
Academic
Principal
Administrative
Principal
China
236 - 487
236 - 487
278 - 455
500 - 600
450 - 600
PRIMARY
Academic
Principal
Admissions
Administrative & Marketing
Deputy Head
Principal
Mgr/Director Head Teacher Teacher
China
500 - 600
450 - 600
SECONDARY
Deputy
Subject
Head Teacher Head Teacher Head of Year Specialist
Business
Director
Admissions
& Marketing
Mgr/Director
China
236 - 735
200 - 630
250 - 750
320 - 500
UNIVERSITY/BUSINESS SCHOOLS
Executive
Director/
Dean
Career
Development Marketing
Operations
Mgr/Director Mgr/Director Director
Student
Program
Administration
Mgr/Director Mgr/Director
China
600 - 1,200
300 - 600
240 - 650
300 - 600
LANGUAGE LEARNING SCHOOLS
Regional
Director
Centre
Director
Business
Student
Development Marketing
Services
Vice
Manager
Mgr/Director Mgr/Director President
China
600 - 1,000
260 - 450
300 - 700
NOTES
300 - 500
130 - 577
236 - 544
200 - 487
130 - 577
500 - 850
300 - 800
200 - 400
200 - 450
750 - 1,000
• Salaries are representative of the base salary only
SALARY INFORMATION: EDUCATION
CHINA
SALARY INFORMATION: CONSTRUCTION & ENGINEERING
CONSTRUCTION & ENGINEERING
CHINA
HONG KONG
China’s construction jobs market was
employer-led in 2014. With fewer large
capital investment projects compared to
previous years and more people available
as projects finished, candidates were
willing to accept a rate at the same level
or, in some cases, a slight decrease in order
to secure their next role. The time
candidates spent between jobs lengthened.
Qualified professionals are in demand in
Hong Kong’s construction market thanks
to several factors. Firstly, large civil
infrastructure projects are underway and
public expenditure remains buoyant to
support government plans for new
development areas such as the North
Eastern New Territories and Tung Chung
expansion. These projects have created
jobs for chartered Civil Engineers with
road, ground and structural backgrounds.
Looking ahead, construction companies
will recruit key professionals such as
Project Managers, Commissioning
Engineers who have strong technical skills
in HVAC and automation, and Business
Development Managers. The salaries for
these professionals are increasing over 10
per cent. Bilingual Engineers will also see
improved job opportunities, with salary
increases above the average.
Similarly to the construction market,
China’s engineering jobs market is fairly
level. In 2014 costs for capital investment
projects were controlled and only limited
new headcount was added to teams.
THERE IS A GREATER USE OF
CONTRACT AND TEMPORARY
ROLES AS EMPLOYERS LOOK
FOR GREATER FLEXIBILITY IN
THEIR WORKFORCE
Despite this, salaries for top level
candidates, such as Project Directors and
Senior Project Managers, increased in
response to the shortage of talent with
strong technical as well as communication
skills. In some specific areas, such as
aerospace, pharmaceutical, luxury retail
and mixed-use buildings, salaries
increased faster than in other areas.
At the mid level, salaries stayed the same
and candidates now spend a longer time
between jobs. However at the entry level
Engineers are receiving a salary increase
of between 8 and 10 per cent and capable
employees are quickly promoted.
A final trend of note is the greater use of
contract and temporary roles as employers
look for greater flexibility in their workforce.
Another factor is the increased pressure
on the government to drive the delivery of
housing units. This has seen the number of
invitations to tender for residential
developments increase and created job
opportunities in both local developers and
contractors for Project Managers to help
with feasibility studies and full project
planning.
Employers continue to offer generous
salaries to candidates in demand,
particularly qualified Engineers in
structural design for complex buildings
and infrastructure projects. Salaries for
most other talent remain fairly stable.
Given the high return on investment in
recent years for luxury residential projects,
property developers are recruiting Project
Managers with architecture qualifications
to plan, design, coordinate and execute
large-scale property development
projects. Ongoing awareness of environmental
protection has led to increasing demand
for green buildings. In particular demand
are skilled Engineers with expertise in
green building design and HK BEAM and
LEED qualifications.
In a final trend, BIM Engineers with
previous modeling experience remain in
high demand as employers look to save
money by pre-empting later stage
conflicts and construction difficulties.
‘In Hong Kong
employers continue to
offer generous salaries
to candidates in
demand, particularly
qualified engineers in
structural design for
complex buildings and
infrastructure projects’
Many key projects kept Singapore’s
construction industry active in 2014. Building and civil infrastructure projects
dominated the market, and included the
MRT and road works projects as well as an
array of high-end residential and mixed
development properties.
During the first half of 2014 there was high
competition for Thomson Line contracts.
While prices were higher than those
previously seen during the award of DTL3,
there was still little room for error in
tendering and those awarded contracts
were predominantly Korean, Chinese and
Japanese main contractors. This will result
in increased recruitment activity as these
companies will need to fill out their
project/construction and quantity
surveyor/contracts teams at all levels. In
particular demand will be candidates who
have MRT stations and tunnels experience.
In comparison, Singapore’s building
construction market has fewer MNC
contractors as local main contractors have
a strong presence and successfully tender
and procure for projects. Some major
developments were awarded in the later
part of 2014, which will create demand for
locally experienced Construction Managers,
Project Managers and Contracts Managers.
In other trends, key job opportunities
continue to attract the attention of
expatriates with unique site and
management skills, such as TBM/Tunnel
Managers and General Managers. Despite
the government’s focus on employing
Singaporeans, employers continue to
select the best person for the job based
on experience and qualifications for roles
that offer a salary above $12,000.
Moving to Singapore’s engineering sector,
MNC design consultancies with a proven
local track record in Singapore and the
region have been competing for the MRT
and building projects. These companies
continue to add new headcount to grow
their various departments. We have seen
particular growth in the M&E sector, and
while this resulted in greater demand for
Mechanical and Electrical Engineers,
strong tender competition meant that
salaries remained the same.
In late 2014 we also saw the water sector
emerge in Singapore’s engineering market.
While it is dominated by key firms it has
also led to new start-ups and MNCs with
successful offshore experiences
establishing a presence in Singapore. This
is creating demand for Water and
Wastewater Engineers, particularly those
with local or at least regional experience.
The candidate market remains competitive
and contractors and engineering
consultancies need to act fast and make
an attractive offer to secure the right
talent. They cannot rely on their brand
perception alone as candidates are aware
of their market value.
However we advise candidates to consider
their long-term career rather than moving
for short-term salary increases. Employers
are now wary of candidates who do not
complete their contract term or spend less
than two years in a role and often reject
them because of their track record.
‘Key job opportunities
in Singapore
continue to attract
the attention of
expatriates with
unique site and
management skills,
such as TBM/Tunnel
Managers and
General Managers’
SALARY INFORMATION: CONSTRUCTION & ENGINEERING
SINGAPORE
CONSTRUCTION CIVIL
Foreperson
Site Engineer
Project Engineer Design Manager Project Manager
China
N/A
N/A
150 - 220
325 - 550
325 - 700
Hong Kong
N/A
360 - 540
360 - 540
420 - 600
540 - 960
Singapore
50 - 80
60 - 75
65 - 80
100 - 140
105 - 145
Senior Project
Manager
Construction
Manager
Resident
Technical Officer Planner
Estimator
China
400 - 800
240 - 550
N/A
150 - 360
150 - 480
Hong Kong
720 - 1,200
800 +
N/A
480 - 840
600 - 960
Singapore
125 - 200
95 - 110
55 - 70
90 - 120
120 - 240
China
Contracts Administrator/
Quantity Surveyor - Entry-level
Quantity Surveyor - Senior
96 - 180
180 - 360
Hong Kong
240 - 360
360 - 600
Singapore
60 - 85
70 - 125
CONSTRUCTION BUILDING
Foreperson
Site Engineer
Project
Engineer
Design
Manager
China
N/A
140 - 260
140 - 260
300 - 600
Hong Kong
N/A
350 - 500
500 - 600
650 - 950
Singapore
55 - 75
60 - 70
70 - 90
100 - 125
Senior Project
Project Manager Manager
Construction
Manager
Planner
Estimator
China
500 - 800
600 - 1,000
400 - 600
400 - 550
350 - 600
Hong Kong
590 - 840
720 - 1,000
720 - 1,200
480 - 830
390 - 840
Singapore
93 - 115
110 +
105 - 120
85 - 100
135 +
Quantity Surveyor - Entry-level
Quantity Surveyor - Senior
China
120 - 240
300 - 600
Hong Kong
240 - 360
420 - 840
Singapore
60 - 70
70 - 85
HVAC Engineer
MEP Engineer
Healthcare Planner
China
120 - 300
150 - 360
600 - 1,000
Hong Kong
300 - 420
300 - 420
N/A
Singapore
55 - 85
60 - 90
N/A
CONSTRUCTION DEVELOPMENT
Development
Manager
Project
Manager
Business
Development
Manager
Development
Director
China
400 - 600
400 - 780
300 - 600
600 +
Hong Kong
640 - 1,200
650 - 950
540 - 830
1,100 +
Singapore
130 - 200
115 - 170
120 - 180
225 +
NOTES
DESIGN CONSULTANCY
- BUILDING SERVICES
CAD Design
Drafter
CAD Manager
Graduate
Design
Design Engineer Engineer
Senior
Design Engineer
China
N/A
220 - 500
N/A
200 - 330
300 +
Hong Kong
220 - 250
350 - 530
200 - 270
290 - 470
420 - 600
Singapore
35 - 50
48 - 60
36 - 42
54 - 72
72 - 96
Principal
Project
Design Engineer Manager
Associate/
Principal/
Senior Associate Director
Resident
Engineer
China
370 - 450
370 - 550
600 - 900
1,000 +
320 - 550
Hong Kong
500 - 730
400 - 900
660 - 1,000
1,000 +
400 - 650
Singapore
100 +
78 - 102
100 - 126
140 +
84 - 120
DESIGN CONSULTANCY
- CIVIL & STRUCTURAL
CAD Design
Drafter
CAD Manager
Graduate
Design
Design Engineer Engineer
Senior
Design Engineer
China
N/A
250 - 350
130 - 200
200 - 300
240 - 400
Hong Kong
220 - 420
350 - 550
200 - 280
290 - 500
450 - 600
Singapore
33 - 48
48 - 60
36 - 42
54 - 72
72 - 96
Principal
Project
Design Engineer Manager
Associate/
Principal/
Resident
Engineer
China
300 - 450
350 - 600
350 - 500
400 - 650
250 - 400
Hong Kong
550 - 900
450 - 900
720 - 960
950 +
400 - 660
Singapore
108 +
90 - 108
100 - 126
150 +
84 - 120
NOTES
ARCHITECTURE
CHINA
HONG KONG
Last year’s trend of international design firms
building up their teams of local designers in
China continues. These firms are recruiting
the headcount necessary to deliver designs
from their local offices in China rather than
outsource projects back to their head office
abroad. As such, locally based candidates
with hands-on in-China experience are
sought rather than candidates who act as
intermediaries between clients in China and
design teams abroad.
Hong Kong’s demand for Architects
remained steady in 2014 although employers
struggled to identify ideal candidates.
This trend will continue, although firms will
look for candidates with specific
experience, such as Designers and Project
Managers with local hands-on experience in
retail, hospitality, healthcare, sports facility
or research & development lab facilities.
SALARY INFORMATION: ARCHITECTURE
Another key trend impacting China’s
architecture market is the demand for
Concept Designers with extensive
overseas experience who can fill director
level positions. To be considered
candidates must also have been working
in China for at least three years. In other areas of demand, candidates with
at least eight years of experience designing
modern hospitals are in heavy demand as
the local talent pool is very short. Senior
Designers with over 10 years of experience
are needed for residential projects, while
Designers with experience managing both
the design and construction segments of
projects in China are also sought.
THE HIGH SALARY INCREASES
OF THE PAST HAVE COOLED AND
ARCHITECTS CHANGING JOBS
TYPICALLY NOW RECEIVE AN
INCREASE OF APPROXIMATELY
15 PER CENT
The high salary increases of the past have
cooled and Architects changing jobs
typically now receive an increase of
approximately 15 per cent. Interior
Designers’ packages are increasing in
response to the high demand for
candidates who can deliver designs for
global retail projects. Interior design roles
in the hospitality industry are also available
in multiple locations across China.
One of the key trends was a preference from
local practices for Mandarin speaking
Architects. While in the past Cantonese was
preferred, there has recently been increasing
demand for Mandarin language skills as
firms bid for lucrative mainland contracts.
In order to attract professionally qualified
and experienced candidates, firms are more
open to individuals who are looking to
return to Hong Kong. These candidates must
possess suitable language skills as well as
the required technical skills and experience.
EMPLOYERS SEEKING
ARCHITECTS ARE INCREASINGLY
OFFERING TO BUY THEM OUT OF
NOTICE PERIODS OR INCREASE
ALLOWANCES
with experience working across the region
are highly attractive to employers.
Local candidates with qualifications
recognized by the BOA are in highest
demand, but available candidates are in
short supply. As projects become more
complex with unique design elements or
sustainable considerations, demand for
Project Architects is also rising.
Consultants, contractors and developers
all look to recruit such experienced
architectural candidates to ensure their
projects run smoothly and the design is
managed throughout the process.
Looking ahead, we will see a continued
focus on recruiting at the mid level as
candidates look to gain more exposure to
a variety of projects and employers look to
bulk up their teams. At the senior level we
will see rising demand for experienced
candidates who have relevant
specialization in the particular type of
project, such as healthcare or underground
train stations.
A number of architectural firms have been
giving their best employees salary increases
above inflation since they are competing
with developers in a buoyant market.
Residential, corporate and retail development
have all helped drive staffing demand.
Employers seeking Architects are
increasingly offering to buy them out of
notice periods or increase allowances.
They are also attracting talent by
emphasizing the potential scope of their
projects. Finally, we’ve seen a greater
willingness to recruit candidates on a
contract basis when demand outstrips the
supply of suitable permanent candidates.
SINGAPORE
Singapore’s architecture market remains
active. Driven by the public sector, we are
seeing continual development ranging
from healthcare buildings, schools and
additional MRT lines. As a result
candidates with relevant project
experience are in high demand.
The private sector too remains healthy,
with larger employers increasingly
handling regional projects from their
offices in Singapore. As a result candidates
‘Looking ahead, in
Singapore we will
see a continued
focus on recruiting
at the mid level’
ARCHITECTURE
ARCHITECTURE
Graduate
Architect
Architect
(2-5 yrs)
Architect
(5-10 yrs)
Associate/
Principal/
China
65 - 104
100 - 360
250 - 600
550 - 750
850 +
Hong Kong
314 - 362
362 - 485
485 - 730
730 - 930
930 - 1,900
Singapore
33 - 40
43 - 65
75 - 110
110 - 140
120 +
Interior
Graduate
Designer
Interior Designer (2-5 yrs)
Interior
Designer
(5-10 yrs)
Senior
Project
Interior Designer Manager
50 - 97
100 - 300
200 - 500
250 - 550
300 - 600
China
Hong Kong
170 - 263
263 - 364
365 - 470
470 - 615
615 - 860
Singapore
35 +
45 - 55
65 - 100
70 - 115
65 - 90
Design Director CAD Drafter
Landscape
Architect
(2-5 yrs)
Landscape
Architect
(5-10 yrs)
Director
Of Landscape
China
500 +
60 - 150
80 - 250
150 - 400
550 +
Hong Kong
1,000 +
160 - 245
280 - 480
480 - 850
850 +
Singapore
125 +
40 - 55
50 - 65 +
70 - 85
130 +
Urban Designer
(2-5 yrs)
Urban Designer
(5-10 yrs)
Principal Urban
Designer
China
120 - 350
330 - 550
550 - 800
Hong Kong
240 - 400
400 - 660
660 - 980
Singapore
60 - 75
75 - 95
80 - 110
NOTES
PROPERTY
CHINA
China’s property jobs market was very
active in 2014, especially for sales and
marketing and property development
professionals. Both multinational and local
developers continue to look for high
caliber candidates in these areas with
successful track records. Candidates with
an existing network in China’s property
industry and full project lifecycle
development experience are most valued
by employers and can therefore achieve a
higher salary increase.
Another key trend is the high number of
mixed-used property development
projects, which has seen demand increase
for Project Managers. Given demand,
employers will offer a competitive salary
to talent with relevant experience.
SALARY INFORMATION: PROPERTY
We have also seen state-owned
developers actively attempting to attract
talent with multinational company work
experience. Market rate salaries are offered
to these candidates.
In other trends, employers still prefer to
hire local candidates or expatriates with
local experience. Meanwhile, we have seen
a rapid increase in talent needs in Tier 2
and 3 cities compared to Tier 1 cities. As a
result, more candidates are now willing to
consider relocation in order to achieve
career advancement.
HONG KONG
Hong Kong’s property market remains
buoyant with staffing demand evident
across the board.
Last year’s protests within Hong Kong failed
to impact mainland visitor numbers and we
continue to see significant activity across
the corporate, retail and hospitality sectors.
In most demand are strong corporate real
estate professionals within Hong Kong.
Facility Managers are sought too, and
while the move towards outsourcing has
limited their salary growth candidates with
business continuity planning, critical
systems and workplace optimization
expertise are in high demand. In other trends, Heads of Corporate Real
Estate are increasingly working with more
than one vendor since it is more common
for facility management, project
management and security to be
outsourced to different service providers. CRES professionals with strong
commercial acumen and an ability to
control costs remain in demand.
Over the coming year demand will remain
steady for experts within Hong Kong’s
property industry, especially for Project
and Facility Managers.
JAPAN
Strong growth fuelled by international
investment continues to be a key feature of
Japan’s property market. Back in 2013 we
saw the creation and revitalization of funds
but despite this recruitment activity was
limited. This changed in 2014, when we saw
a huge increase in hiring thanks to Japan’s
international reputation as a safe investment.
As a result, today Japan still leads the way
for many core focused investments.
Given the significant increase in demand, we
are seeing a massive shortage of bilingual
candidates at the analyst and associate
levels. This is a direct result of the lack of
hiring between 2009 and 2012, which
limited the number of new professionals
commencing a property career.
Corporate real estate continues to be an
active area. As the value and price of real
estate increases, this is a cost center that
property organizations cannot ignore.
We’ve also seen Japan slowly adapt to
international standards for corporate real
estate management, with both in-house
and service models. This is creating
demand for junior to mid level outsourced
positions in facilities management and
corporate services. We are also seeing
some increase in the need for mid to
senior level corporate real estate
professionals as some companies seek to
reduce the size of their property portfolio,
consolidate office space, or relocate to
newer more appropriately sized premises.
Project and development services remain
areas of growth. New brands are entering
the market, leading to a large number of
new fit-out projects and the drop of Tokyo’s
office vacancy rate to below 5 per cent. As
a result there is huge demand for talented
bilingual Project Managers. Development
services is also becoming more attractive
and profitable as Japan’s booming
construction market taxes an already talent
short labor pool. This is driving up the cost
of services and candidates.
Salaries increased in 2014 and we expect
continued increases in the year ahead as
the yen weakens and the real estate
market continues to expand.
SINGAPORE
Singapore’s property market remains
active thanks to the continual
development of residential and
commercial properties. Many owners and
tenants have also undertaken renovations
and refurbishments to keep their assets
modern and fresh.
As a result particular attention has been
given to how well these properties perform.
In turn this has created demand for strong
and experienced Property Managers,
Building Managers, Operations Managers as
well as leasing and marketing professionals
from Junior Executives to Senior Managers.
In contrast, the retail market has been
slower. The focus has shifted from the high
end and variety to malls, which are
attempting to secure big anchor tenants.
Given these market conditions candidates
are looking to change sectors and thus
there is a shortage of suitable candidates
for the retail roles that are on offer.
Looking ahead, we expect the development
of new projects to decrease as prices in the
residential market drop and foreign
investment cools. Development in nearby
emerging markets will instead remain
active and developers based in Singapore
will capitalise on activity in countries such
as Myanmar and Sri Lanka.
Corporate real estate will continue to grow
and companies will create positions to
look after their local and regional
portfolios, including Real Estate Managers,
Head of Facilities Management and Head
of Projects and Planning.
Finally, competition between service
providers is intense as companies expand
their scope and coverage to provide value
added services to win new contracts. This
will remain a key feature of the year
ahead, and will fuel demand for Account
Managers, Facilities Managers, Transaction
Managers and Critical Service Managers.
PROPERTY
Manager
(2-5 yrs)
Manager
(5-10 yrs)
Senior
Manager
Head of Property GM Property
Management
Management
China
240 - 300
250 - 400
600 +
600 +
700 +
Hong Kong
205 - 310
350 - 488
450 - 900
900 - 1,200
1,250 - 1,850
Singapore
40 - 54
50 - 85
80 - 110
130 +
150 +
Centre Manager Centre Manager Facilities Manager Facilities Manager Facilities Manager
- Retail
- Retail
- Soft Services
- Soft Services
- Soft Services
(5-10 yrs)
(10+ yrs)
(2-5 yrs)
(5-10 yrs)
(10+ yrs)
China
300 - 500
350 - 600
150 - 240
250 - 550
420 +
Hong Kong
440 - 670
670 +
220 - 350
350 - 600
600 - 880
Japan
N/A
N/A
6-8
8 - 11
11 - 13
Singapore
60 - 90
90 +
48 - 66
70 - 110
115 +
Facilities Director Leasing Manager Leasing Manager Senior Leasing
(10+ yrs)
(2-5 yrs)
(5-10 yrs)
Manager
Leasing
Director
China
500 +
150 - 260
260 - 450
400 - 600
700 +
Hong Kong
880 +
250 - 400
400 - 650
650 - 800
800 - 1,300 +
Japan
15 +
5-8
8 - 14
14 - 20
20 +
Singapore
160 +
45 - 55
50 - 86
90 - 120
125 +
Asset Manager
(2-5 yrs)
Asset Manager
(5-10 yrs)
Senior Asset
Manager
Asset Management
Director/Head of
China
250 +
400 - 600
700 +
800 +
Hong Kong
270 - 415
450 - 750
750 - 1,200
1,200 - 2,500 +
Japan
6-9
9 - 13
11 - 16
16 +
Singapore
65 - 78
78 - 110
100 - 140
145 +
Property
Investment
Analyst
Property
Investment
Manager
Property
Investment
Associate
Property
Investment
Director
China
300 - 450
360 - 720
750 +
900 +
Hong Kong
340 - 550
550 - 900
900 - 1,250
1,250 +
Japan
6-8
8 - 12
12 +
18 +
NOTES
stated in millions
PROPERTY
Acquisitions
Acquisitions
Senior
Surveyor/
Surveyor/
Acquisitions
Acquisitions
Manager (2-5 yrs) Manager (5-10 yrs) Surveyor/Manager Director
China
200 - 250
400 - 600
600 - 800
900 +
Hong Kong
320 - 420
420 - 800
800 - 1,000
1,000 +
Japan
8 - 10
10 - 15
15 - 20
20 +
Quantity Surveyor Quantity Surveyor Senior Quantity Quantity Surveyor
- Unqualified
- Qualified
Surveyor
- Qualified
(2-5 yrs)
(5-10 yrs)
- Qualified
Director
China
120 - 200
150 - 480
400 - 600
700 +
Hong Kong
300 - 400
400 - 600
600 - 800
800 +
Japan
4-6
6-9
9 - 11
N/A
Singapore
45 - 65
65 - 105
95 +
135 +
PROPERTY - CLIENT SIDE
Project
Coordinator
Assistant
Senior
Projects
Project Manager Project Manager Project Manager Director
China
180 - 240
180 - 300
325 - 550
600 - 800
780 +
Hong Kong
220 - 360
360 - 480
480 - 720
720 - 1,200
1,200 +
Japan
5 - 7.5
7.5 - 10
10 - 14
14 - 18
18 - 22
Singapore
45 - 60
70 - 95
80 - 120
110 - 200
180 +
NOTES
stated in millions
MANUFACTURING & OPERATIONS
China’s manufacturing and operations
recruitment market remained active in
2014. Looking firstly at the FMCG industry,
businesses continued to increase their
market share in Tier 2 and 3 cities. To
ensure they launched new products on
time and won new customers,
organizations restructured or enlarged
their R&D departments and recruited R&D
professionals with experience in packaging
development and product development,
as well as Process Engineers and
Consumer Insight Managers and Directors.
Within the electronics products market,
competition between original equipment
manufacturers (OEMs) became fierce. As a
result, OEMs are now considering candidates
from other high margin industries such as
auto and aerospace in order to gain
professional technical knowledge in new
fields. Given low profit margins, salaries in
electrical manufacturing services (EMS) are
lower than in other electronics companies.
This impacts the ability of EMS employers to
attract good talent.
In contrast, China’s general aviation
market is booming due to the opening of
China’s low-altitude airspace. Sales
Managers and Directors in the business jet
and helicopter market are in very high
demand, as are sales professionals for all
services and products in airports.
Within the chemical and materials
industries, most companies are under
pressure following profit declines. As a
result, they are reorganizing their staff or
experiencing mergers or acquisition to
optimize product portfolios.
China’s heavy industries, such as steel,
cement, nonferrous metals and heavy
machinery, are in decline due to Chinese
government policy and severe
overcapacity. Turnover and redundancies
remain high, which creates an oversupply
of candidates in the market. Budgets are
very strict, and thus salary increases are
rare. However in response to declining
business volumes, some companies are
actively recruiting candidates to help take
market share and improve sales orders.
Significant hiring activity took place in the
automotive industry, with staffing demand
particularly high in the aftermarket. Based
on a growing global car fleet and an
increasing average fleet age in mature
markets, a strong after sales market is also
expected this year. This is driven by
rapidly growing service demand in
emerging markets, where new car sales
have increased activity in the aftermarket.
In addition, more high-end luxury cars are
locally manufactured and customized for
China. As a result, experienced Product
Development Engineers and Product Test
Engineers are in high demand.
JAPAN
CHINA’S GENERAL AVIATION
MARKET IS BOOMING DUE TO
THE OPENING OF CHINA’S LOWALTITUDE AIRSPACE
In particular, we saw many job offers in
the automotive industry as a result of both
increased sales for Japanese auto
manufacturers and the development of
new projects, such as ‘active safety’, new
driving support systems including selfdriving, electric vehicles and new fuels.
Commercial aircraft OEMs were relatively
quiet given the delay of the ARJ21 and
C919 projects. Most vacancy activity was
focused upon business development and
sales professionals in Tier 1 cities, as well
as OEM quality and engineering
professionals in Tier 2 and 3 cities.
Various forces are at play in Japan’s
manufacturing and operations market. On
one hand, continuous government easing,
the weaker yen and earthquake
reconstruction needs have had a positive
impact on the sector. However, there were
also challenges for employers in the form
of the increased consumption tax, energy
issues, low consumer spending due to the
cold summer, and the falling GDP rate.
Despite this environment, manufacturing
businesses improved their earnings and
invested in capital. Employment activity
was also strong.
skills and a solid level of experience
receive several offers.
Another trend is the willingness of
employers to hire foreign candidates with
relevant auto experience and both
Japanese (above JLPT 2) and English
language skills. In addition, more
companies are willing to support working
visas. This will continue in the year ahead.
Another active industry is pharmaceuticals
and medical equipment. Demand for
suitable talent is high, particularly for
Manufacturing Engineers with expertise in
lean/improvement, quality control/quality
assurance and environment health and
safety (EHS). Line Operators are also
needed in regional areas. The key
challenge for employers is how to attract
candidates through the right combination
of position, benefits and salary.
In terms of staffing demand, we are seeing
a high need for lean/process improvement
experts such as Process Engineers, Lean
Managers and Process Optimization
Managers. Candidates need to be able to
analyze and drive improvement activities
throughout the entire value chain and use
Six Sigma or other methodologies to
improve areas with lowered productivity.
Such candidates are valued for their ability
to make cost savings and improve an
organization’s profit structure. As a result,
they are in demand across all industries.
In the year ahead, employers will focus on
recruiting candidates with both English
and Japanese language skills in response
to the globalization of companies. The
demand for higher quality results is also
leading some companies to shift
production to Japan, further driving the
need for bilingual skills.
Employers are also expected to focus on the
development of their current employees,
and we will continue to see an active
recruitment market as new talent is secured.
In most demand by Tier 1 auto
manufacturers are design, analysis,
technology development and quality
candidates. Director and Officer level
candidates are also sought. Candidates
with engineering qualifications, language
SALARY INFORMATION: MANUFACTURING & OPERATIONS
CHINA
Automobile
PRODUCTION
Engineer
Supervisor
Manager
Director
Vice President
China
90 - 150
150 - 280
250 - 450
500 - 1,000
N/A
Japan
4.5 - 6
7-9
8 - 12
12 - 25
N/A
ENGINEERING
Engineer
Supervisor
Manager
Director
Vice President
China
90 - 150
150 - 280
300 - 500
500 - 1,000
N/A
Japan
4.5 - 6
7-9
8 - 12
12 - 20
N/A
R&D
Engineer
Supervisor
Manager
Director
Vice President
China
90 - 180
180 - 290
300 - 500
500 - 1,200
N/A
Japan
4.5 -8
7 -9
8 -10
12 -18
N/A
QUALITY
Engineer
Supervisor
Manager
Director
China
90 - 150
150 - 200
300 - 500
500 - 800
Japan
4.5 - 6
7-9
8 - 12
10 - 15
SALES & MARKETING
Engineer
Supervisor
Manager
Director
Vice President
China
90 - 150
150 - 300
300 - 500
600 - 1,200
1,000 - 2,000
Japan
4.5 - 9
N/A
8 - 12
10 - 25
N/A
MANAGEMENT ROLES
GM
CTO
COO
CEO
China
800 - 1,500
N/A
N/A
N/A
Japan
15 - 25
N/A
N/A
N/A
NOTES
stated in millions
Aviation
PRODUCTION
Engineer
Supervisor
Manager
Director
Vice President
China
90 - 220
100 - 220
200 - 550
450 - 900
900 - 2,000
ENGINEERING
Engineer
Supervisor
Manager
Director
Vice President
China
120 - 220
150 - 280
225 - 500
500 - 1,000
900 - 2,000
R&D
Engineer
Supervisor
Manager
Director
Vice President
China
150 - 200
180 - 250
250 - 400
400 - 800
800 - 1,600
QUALITY
Engineer
Supervisor
Manager
Director
China
100 - 150
180 - 280
250 - 400
500 - 800
SALES & MARKETING
Engineer
Supervisor
Manager
Director
Vice President
China
180 - 250
250 - 350
400 - 600
600 - 1,000
1,000 - 2,000
MANAGEMENT ROLES
GM
CTO
COO
CEO
China
1,000 - 2,000
1,200 - 2,000
2,200 - 3,500
3,000 - 4,500
PRODUCTION
Engineer
Supervisor
Manager
Director
Vice President
China
120 - 200
150 - 300
300 - 800
600 - 1,200
2,000 +
ENGINEERING
Engineer
Supervisor
Manager
Director
Vice President
China
120 - 180
150 - 300
300 - 500
500 - 1,500
2,000 +
R&D
Engineer
Supervisor
Manager
Director
Vice President
China
150 - 250
250 - 450
400 - 800
800 - 2,500
2,000 +
QUALITY
Engineer
Supervisor
Manager
Director
China
120 - 180
300 - 400
500 - 800
700 - 1,200
SALES & MARKETING
Engineer
Supervisor
Manager
Director
Vice President
China
150 - 200
200 - 400
350 - 800
800 - 2,000
2,000 +
MANAGEMENT ROLES
GM
CTO
COO
CEO
China
800 - 2,000
1,500 - 5,000
2,500 - 4,000
4,000 +
Chemicals & Materials
NOTES
stated in millions
FMCG
PRODUCTION
Engineer
Supervisor
Manager
Director
Vice President
China
90 - 130
130 - 200
250 - 600
550 - 1,200
N/A
Japan
4.5 - 6
7-9
8 - 12
12 - 25
N/A
ENGINEERING
Engineer
Supervisor
Manager
Director
Vice President
China
90 - 130
130 - 200
250 - 600
600 - 1,200
N/A
Japan
4.5 - 6
7-9
8 - 12
12 - 20
N/A
R&D
Engineer
Supervisor
Manager
Director
Vice President
China
90 - 130
130 - 200
250 - 600
600 - 1,200
N/A
Japan
4.5 - 6
7-9
8 - 12
12 - 20
N/A
QUALITY
Engineer
Supervisor
Manager
Director
China
90 - 130
130 - 200
250 - 600
600 - 1,200
Japan
4.5 - 6
7-9
8 - 12
10 - 15
MANAGEMENT ROLES
GM
CTO
COO
CEO
China
800 - 1,500
N/A
N/A
N/A
Japan
20 - 50
N/A
N/A
N/A
NOTES
stated in millions
Heavy Industry
PRODUCTION
Engineer
Supervisor
Manager
Director
Vice President
China
100 - 150
150 - 220
250 - 400
500 - 700
800 +
Japan
4.5 - 6
7-9
8 - 12
12 - 18
N/A
ENGINEERING
Engineer
Supervisor
Manager
Director
Vice President
China
100 - 150
150 - 240
300 - 500
500 - 800
N/A
Japan
4.5 - 6
7-9
8 - 12
12 - 18
N/A
R&D
Engineer
Supervisor
Manager
Director
Vice President
China
120 - 180
150 - 250
300 - 500
500 - 800
800 - 1,200
Japan
N/A
N/A
N/A
N/A
N/A
QUALITY
Engineer
Supervisor
Manager
Director
China
100 - 150
150 - 200
300 - 500
500 - 800
Japan
4.5 - 6
7-9
8 - 12
10 - 13
SALES & MARKETING
Engineer
Supervisor
Manager
Director
Vice President
China
120 - 300
200 - 300
400 - 600
700 - 1,000
1,000 +
Japan
5-9
N/A
8 - 12
10 - 15
N/A
MANAGEMENT ROLES
GM
CTO
COO
CEO
China
1,000 - 2,000
N/A
N/A
1,000 +
Japan
12 - 30
N/A
N/A
N/A
NOTES
stated in millions
Electronics
PRODUCTION
Engineer
Supervisor
Manager
Director
Vice President
China
80 - 150
130 - 250
200 - 750
700 - 1,200
1,000 - 1,500
Japan
4 - 5.5
5.5 - 7
8 - 10
12 - 20
N/A
ENGINEERING
Engineer
Supervisor
Manager
Director
Vice President
China
100 - 160
150 - 300
250 - 800
750 - 1,200
1,000 - 1,800
Japan
4 - 5.5
5.5 - 7
8 - 10
10 - 15
N/A
R&D
Engineer
Supervisor
Manager
Director
Vice President
China
100 - 160
150 - 300
250 - 800
750 - 1,300
1,200 - 2,000
Japan
N/A
N/A
N/A
N/A
N/A
QUALITY
Engineer
Supervisor
Manager
Director
China
80 - 150
140 - 230
250 - 750
700 - 1,100
Japan
4 - 5.5
5.5 - 7
8 - 10
10 - 15
SALES & MARKETING
Engineer
Supervisor
Manager
Director
Vice President
China
100 - 160
140 - 250
200 - 850
800 - 1,500
1,000 - 2,500
Japan
5-9
N/A
8 - 12
10 - 20
N/A
MANAGEMENT ROLES
GM
CTO
COO
CEO
China
1,000 - 2,000
1,500 - 3,000
2,500 - 3,500
4,000 +
Japan
12 - 30
N/A
N/A
15 - 25
NOTES
stated in millions
Machinery/Mechanical
PRODUCTION
Engineer
Supervisor
Manager
Director
Vice President
China
80 - 150
130 - 250
200 - 750
700 - 1,200
1,000 - 1,500
Japan
4.5 - 6
7-9
8 - 12
12 - 18
N/A
ENGINEERING
Engineer
Supervisor
Manager
Director
Vice President
China
100 - 160
140 - 280
250 - 800
750 - 1,200
N/A
Japan
4.5 - 6
7-9
8 - 12
12 - 18
N/A
R&D
Engineer
Supervisor
Manager
Director
Vice President
China
100 - 160
140 - 300
250 - 800
750 - 1,300
N/A
Japan
N/A
N/A
N/A
N/A
N/A
QUALITY
Engineer
Supervisor
Manager
Director
China
80 - 150
140 - 230
250 - 750
700 - 1,100
Japan
4.5 - 6
7-9
8 - 12
10 - 15
SALES & MARKETING
Engineer
Supervisor
Manager
Director
Vice President
China
100 - 160
140 - 250
200 - 850
800 - 1,300
1,000 - 2,500
Japan
5-9
N/A
8 - 12
10 - 15
N/A
MANAGEMENT ROLES
GM
COO
CEO
China
1,000 - 1,500
2,500 - 3,500
4,000 +
Japan
12 - 30
N/A
N/A
NOTES
stated in millions
OIL & GAS
CHINA
China’s oil & gas industry experienced
consistent growth in 2014, much of it due
to Chinese government policy.
In the upstream market demand for oil field
service companies remained stable. While
EPC and other service providing companies
continue to support the industry, some
have moved their core business to other
industries. As a result, recruitment activity
and salaries remain stable.
In contrast, within the downstream market
the production of bitumen and lubricants
is booming and full government support
for these industries is expected.
Downstream salaries will remain stable
this year, although employers may offer
higher salaries for specialist professionals.
SALARY INFORMATION: OIL & GAS
We are seeing high demand from oil
operation companies for sales and business
development professionals at all levels.
Competitive remuneration, continuous
training and regional responsibility are
offered to secure the top talent. Marketing
professionals are also sought.
Also in demand, but short supply, are
experienced and skilled engineering
professionals specialising in geology and
reservoir with both onshore and offshore
knowledge. In order to attract suitable
candidates, employers are offering competitive
salaries, good training programmes and career
progression opportunities.
Looking ahead, the market will remain
active. China’s shipyards will continue to
make inroads into the offshore oil & gas
and marine markets, while the country’s
huge unconventional reserves are a largely
untapped resource and will be a sector to
monitor in the years ahead.
SINGAPORE
Despite the global price of oil, Asia’s oil &
gas market continues to grow thanks to
multinational corporations targeting the
region. Within Singapore specifically, we
expect to see continued growth in the
shipyards market as employers work on
new build projects and convert offshore
vessels and production facilities, such as
FPSO, FSO and jack-up rigs. This will
create demand for Senior Project
Managers, Construction Managers and
Superintendents with experience
delivering major $US150m plus value
projects. In greatest demand will be those
with FPSO or topside experience.
Given the drive to improve efficiencies and
reduce costs, we also expect original
equipment manufacturers (OEMs)
servicing the oil & gas industry to remain
relatively strong. We would expect some
products such as Downhole tools to
experience growth as employers seek to
maximise returns from existing assets.
Continuing the recent trend, Regional
Sales Managers and Business Development
Managers will remain in demand as the
region continues to be targeted by global
OEMs to achieve ambitious growth targets.
Manufacturing Operations Managers will
also be needed to help achieve growth
targets and capitalize on the region’s
relatively low cost base, ready supply of
skilled labour and opportunities in terms
of oil and gas resources.
THE GOVERNMENT’S NEW
FAIR CONSIDERATION
FRAMEWORK HAS INCREASED
COMPETITION FOR LOCAL
TALENT IN THE JOBS MARKET,
PARTICULARLY FOR ROLES AT
THE LOWER SALARY BAND
In the background, the Government’s new
Fair Consideration Framework has
increased competition for local talent in
the jobs market, particularly for roles at
the lower salary band. In addition, an
increasing number of visa renewals are
being rejected. Consequently demand is
high for Singaporeans but there is a finite
pool of local candidates with the required
skill set. This demand has pushed up the
salary expectations of local candidates,
further widening the divide between
candidates and employers.
This is creating immense challenges for
employers. On one hand, the softening of
the global oil & gas market means
employers want to tightly control costs and
salaries. On the other hand, local candidates
are acutely aware of the demand for their
skills and are intent on securing the best
salary they can. As a result, we expect
salaries for imported workers to remain
steady, with perhaps some slight decreases,
while salaries for local candidates will
continue to steadily increase.
MALAYSIA
Malaysia has unveiled several major
upstream and downstream oil and natural
gas projects as part of its strategy to
enhance output from existing oil and
natural gas fields and advance exploration
in deepwater areas.
With an active market and consistently
high levels of job vacancies in both
upstream and downstream markets, salary
pressure has increased. Local candidates
in particular are acutely aware of the
demand for their skills.
Some employers continue to resist this
pressure and therefore the gap between
candidates’ salary expectations and
employers’ offers has widened. The length
of the recruitment process has also
increased as employers wait for skilled
candidates to become available within
their budget.
In the upstream area, operators are
competing for talented local professionals
at the mid to senior management level.
Given the shortage of such talent, they will
recruit regional or western expatriates who
have been living and working in Malaysia.
In most demand in the upstream market
are Construction Managers, Project
Directors, Senior Project Managers, Lead &
Senior Discipline Engineers, Plant
Managers and Head of Departments.
In the downstream market there is a
shortage of talented local candidates since
many have been working in the Middle
East. In greatest demand are experienced
professionals involved in the construction
phase of projects, including Construction
Managers, Project Managers, Commercial
Managers, QA/QC Managers and Lead
Design Engineers across all disciplines.
Plant Operations Managers with
experience running a refinery plant are
also in demand.
OIL & GAS
Operations & Production
GEOLOGIST
Graduate
Senior
Lead
Manager
China
30 - 80
100 - 200
200 - 400
400 +
Singapore
39 - 55
100 - 150
180 - 220
250 +
Malaysia
48 - 72
132 - 140
240 +
300 +
PETROPHYSICIST
Graduate
Senior
Lead
Manager
China
30 - 80
100 - 200
200 - 400
400 +
Singapore
39 - 55
120 - 170
180 - 220
250 +
Malaysia
48 - 72
132 - 140
240 +
300 +
RESERVOIR ENGINEER
Graduate
Senior
Lead
Manager
China
30 - 80
100 - 200
200 - 400
400 +
Singapore
39 - 55
120 - 170
180 - 220
250 +
Malaysia
48 - 72
144 - 240
288 +
300 +
PETROLEUM ENGINEER
Graduate
Senior
Lead
Manager
China
30 - 80
100 - 200
200 - 400
400 +
Singapore
39 - 55
120 - 170
180 - 220
250 +
Malaysia
48 - 72
144 - 240
264 +
300 +
WELL DELIVERY
Graduate
Senior
Lead
Manager
China
30 - 80
100 - 200
200 - 300
300 +
Singapore
39 - 55
100 - 150
150 - 200
250 +
Malaysia
48 - 72
96 +
220 +
300 +
DRILLING SUPERVISOR
Graduate
Senior
Lead
Manager
China
50 - 100
150 - 250
250 - 450
450 +
Singapore
N/A
100 - 150
150 - 200
250 +
Malaysia
48 - 72
96 +
220 +
300 +
PRODUCTION MANAGEMENT
Graduate
Senior
Lead
Manager
China
30 - 80
100 - 200
200 - 400
400 +
Singapore
39 - 55
120 - 150
160 - 180
200 +
Malaysia
48 - 72
96 +
220 +
300 +
LOGISTICS
Graduate
Senior
Lead
Manager
China
30 - 50
50 - 150
150 - 250
300 +
Singapore
39 - 55
80 - 120
140 - 160
180 - 200
Malaysia
42 - 60
120 +
180 +
216 +
NOTES
OIL & GAS
Operations & Production
QAQC
Graduate
Senior
Lead
Manager
China
30 - 50
50 - 150
150 - 250
300 +
Singapore
39 - 55
80 - 100
100 - 130
120 - 195
Malaysia
42 - 60
108 - 120
168 +
216 +
MAINTENANCE
Graduate
Senior
Lead
Manager
China
30 - 50
50 - 150
150 - 250
250 +
Singapore
39 - 55
80 - 100
100 - 130
150 - 180
Malaysia
36 - 60
72 - 108
120 +
180 +
PROJECT MANAGER
Graduate
Senior
Lead
Manager
China
30 - 80
200 - 300
300 - 400
400 +
Singapore
N/A
150 - 180
200 - 240
250 - 300
Malaysia
N/A
120+
240+
300+
PROJECT ENGINEER
Graduate
Senior
Lead
Manager
China
30 - 80
120 - 200
250 - 300
300 +
Singapore
N/A
130 - 160
170 - 220
250 +
Malaysia
36 - 60
108+
144+
180 +
Project Development
CONTRACTS ENGINEER
Graduate
Senior
Lead
Manager
China
60 - 120
120 - 200
200 - 300
300 +
Singapore
40 - 60
130 - 160
170 - 220
250 +
Malaysia
36 - 60
84 - 120
132 - 180
216 +
COMMERCIAL MANAGER
Graduate
Senior
Lead
Manager
China
60 - 120
100 - 200
200 - 400
500 +
Singapore
N/A
160 - 200
220 - 260
280 +
Malaysia
48 - 72
96 - 120
144 - 246
240 +
NOTES
OIL & GAS
Project Development
COMMISSIONING ENGINEER
Graduate
Senior
Lead
Manager
China
30 - 80
100 - 200
200 - 300
300 +
Singapore
45 - 75
110 - 160
200 - 250
250 +
Malaysia
60 +
120 +
220 +
300 +
Graduate
Senior
Lead
Manager
China
60 - 120
120 - 200
200 - 400
500 +
Singapore
39 - 55
80 - 130
130 - 180
160 +
Malaysia
60 +
144 +
250 +
300 +
PROJECT CONTROLS MANAGER
Graduate
Senior
Lead
Manager
China
60 - 120
100 - 200
200 - 300
360
Singapore
39 - 55
80 - 130
130 - 180
200 +
Malaysia
36 - 60
84 - 120
132 - 180
216 +
ESTIMATOR
Graduate
Senior
Lead
Manager
China
60 - 120
120 - 200
200 - 300
300 +
Singapore
39 - 55
90 - 140
150 - 200
200 +
Malaysia
36 - 60
84 - 108
114 - 156
180 +
PLANNER
Graduate
Senior
Lead
Manager
China
60 - 120
120 - 200
200 - 400
400 +
Singapore
39 - 55
100 - 150
170 - 190
200 - 250
Malaysia
36 - 60
78 - 108
120 - 168
180 +
PROCUREMENT
Graduate
Senior
Lead
Manager
China
60 - 120
120 - 200
200 - 400
400 +
Singapore
39 - 55
90 - 140
150 - 200
200 +
Malaysia
36 - 60
84 - 114
120 - 156
180 +
COST ENGINEER
Graduate
Senior
Lead
Manager
China
60 - 120
120 - 200
200 - 300
300 +
Singapore
39 - 55
90 - 140
150 - 200
200 +
Malaysia
36 - 60
72 - 108
120 - 156
168 +
BID MANAGER
Graduate
Senior
Lead
Manager
Singapore
39 - 55
90 - 140
150 - 200
200 +
Malaysia
48 - 72
96 - 120
168 - 192
240 +
NOTES
OIL & GAS
Other
DISCIPLINE ENGINEERS*
Graduate
Senior
Lead
Manager
China
90 - 150
180 - 240
240 - 300
300 +
Singapore
39 - 55
80 - 140
120 - 216
220 - 260
Malaysia
60 +
180 +
300 +
400 +
SUBSEA
Graduate
Senior
Lead
Manager
Singapore
39 - 55
120 - 150
150 - 180
250 +
Malaysia
60 - 72
120 +
240 +
350 +
PIPELINES
Graduate
Senior
Lead
Manager
Singapore
39 - 55
110 - 140
140 - 216
220 +
Malaysia
60 - 72
120 +
180 +
250 +
MARINE/NAVAL
Graduate
Senior
Lead
Manager
China
90 - 150
180 - 240
240 - 300
400 +
Singapore
39 - 55
100 - 130
130 - 170
220 +
Malaysia
48 - 72
120 +
180 +
300 +
SAFETY ENGINEER
Graduate
Senior
Lead
Manager
China
60 - 120
120 - 180
200 - 300
350 +
Singapore
39 - 55
100 - 150
150 - 200
220 +
Malaysia
36 - 60
96 - 108
120 +
180 +
HSE
Graduate
Senior
Lead
Manager
China
60 - 120
120 - 200
200 - 400
400 +
Singapore
39 - 55
120 - 170
180 - 220
220 +
Malaysia
48 - 72
120 +
250 +
300 +
ROV MANAGEMENT
Graduate
Senior
Lead
Manager
Singapore
45 - 75
200 - 250
250 - 300
220 +
Malaysia
60 - 72
120 +
240 +
350 +
FIELD ENGINEER
Graduate
Senior
Lead
Manager
China
60 - 120
100 - 200
200 - 400
400 +
Singapore
45 - 75
95 - 125
125 - 150
220 +
Malaysia
36 - 60
96 - 108
120 +
180 +
FIELD TECHNICIAN
Graduate
Senior
Lead
Manager
Singapore
45 - 75
95 - 125
125 - 150
220 +
Malaysia
34 - 48
72 - 108
108 +
120 +
NOTES
* Includes Civ/Struct/Mech/Elec/I&E
RECRUITMENT
OUTSOURCING
SPEAK TO
THE EXPERTS
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We have been providing these services in Asia Pacific for more than 20 years
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For your requirements in Asia please contact Robert Moffat
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T: +86 10 5765 2688
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Head Office
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Shanghai, China 200040
T: +86 21 2322 9600
Shinjuku
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14F 6-8-1 Nishishinjuku, Shinjuku-ku,
Tokyo 163-6014, Japan
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Suzhou
Unit 1506, 24th Building, Times Square
Hua Chi Street, Suzhou Industrial Park
Suzhou, China
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Yokohama
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asia`s talent gap salary and recruiting insights to bridge the

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