CHINA SALARY GUIDE

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1 CHINA SALARY GUIDE

2 morganmckinley.com.cn 2

3 MANAGING DIRECTOR S LETTER The majority (82%) of Mainland China s professionals have seen their annual salaries increase. However, these increases vary depending on the market sector, with certain segments performing better than others. As the Chinese economy experiences a normal pace of growth moving into 2015, this has resulted in slightly less jobs being created across the finance sector although they are still faring much better than the industrial sector. However, due to ongoing regulatory changes, there is continuing high demand for risk and compliance professionals. In terms of additional remuneration benefits, an annual bonus scheme (62%) and holidays (58%) are the most important to Mainland China s professionals. Survey results show that the majority of those who responded receive these two benefits as part of their current package. I hope you enjoy reading the accompanying report. If you have any insights on current salary trends in professional occupations in Mainland China, we would welcome any feedback you may have. Human resources professionals are also sought after despite the slowdown, as restructuring has led to increased demand for new investment headcount, and to upgrade existing HR personnel, from generalists to specialists. Furthermore, Mainland China s thriving Internet sector has led to a significant talent shortage. We have seen an increasing number of professionals that are willing to move from a multinational IT company to a fastgrowing local internet firm. Some local firms have been known to offer pay rises in excess of 50 percent for outstanding individuals. The FMCG sector continues to flourish with growing demand for commercial talent in this area. Professionals in this sector can expect increasing opportunities, as well as attractive remuneration. Over three quarters (76%) of professionals who responded say they have received or are expecting an annual bonus for Again, bonus increments are variable, which is indicative of certain sectors outperforming others. RIO GOH Country Head, China Tel:

4 CONTENTS BANKING & FINANCIAL SERVICES 5 FINANCE & ACCOUNTING 9 IT 11 HUMAN RESOURCES 13 SALES & MARKETING 15 OPERATIONS & SUPPLY CHAIN 18 HEALTHCARE 21 SALARY SURVEY RESULTS 23 4

5 BANKING & FINANCIAL SERVICES TOP 3 MOST IN-DEMAND POSITIONS: Relationship Manager Head of Compliance Research Analyst 5

6 BANKING & FINANCIAL SERVICES Morgan McKinley expects to see continued high demand for risk and compliance professionals. This is in response to the ever changing regulatory environment. Banks and other financial institutions will continue to offer their clients more products and services as the regulatory landscape further evolves. As part of this development, risk and compliance individuals will be offered more opportunities for career advancement has been a good year for most banks and Morgan McKinley predicts a continuation of that growth in banking through the hiring of more relationship managers and product managers in We expect an increase in demand for accounting and finance professionals from internal audit, namely senior vice-presidents (SVPs) / directors and directors / senior directors. Within asset management, research analysts are in high demand at the director / senior director level. Banking operations professionals with expertise in the area of settlements at the VP / senior manager levels will be in high demand and within corporate and retail banking, individuals with trade finance (sales) experience at the SVP/director levels will be most in demand. BANKS AND OTHER FINANCIAL INSTITUTIONS WILL CONTINUE TO OFFER THEIR CLIENTS MORE PRODUCTS AND SERVICES AS THE REGULATORY LANDSCAPE FURTHER EVOLVES. ACCOUNTING & FINANCE FINANCIAL SERVICES BASIC SALARY (PER MONTH) ROLE ASSOCIATE / NON-OFFICER ASSOCIATE / AVP / VP / SENIOR SVP / DIRECTOR DIRECTOR / SENIOR DIRECTOR INTERNAL AUDIT 15k - 20k 20k - 40k 40k - 65k 65k - 90k 100k+ FINANCIAL CONTROL / REPORTING 20k - 25k 25k - 40k 40k - 60k 60k - 80k 85k+ ASSET MANAGEMENT FINANCIAL SERVICES BASIC SALARY (PER MONTH) ROLE ASSOCIATE / NON-OFFICER ASSOCIATE / AVP / VP / SENIOR SVP / DIRECTOR DIRECTOR / SENIOR DIRECTOR RESEARCH ANALYST 15k - 20k 20k - 40k 40k - 65k 65k - 90k 100k+ EQUITY ANALYST 15k - 25k 25k - 40k 40k - 60k 60k - 80k 90k+ FUND / PORTFOLIO 18k - 30k 25k - 40k 30k - 60k 60k - 90k 100k+ 6

7 BANKING & FINANCIAL SERVICES BANKING OPERATIONS FINANCIAL SERVICES BASIC SALARY (PER MONTH) ROLE ASSOCIATE / NON-OFFICER ASSOCIATE / AVP / VP / SENIOR SVP / DIRECTOR DIRECTOR / SENIOR DIRECTOR SETTLEMENTS 8k - 15k 15k - 35k 35k - 45k DOCUMENTATION 8k - 15k 15k - 35k 35k - 45k TREASURY OPERATIONS TRADE OPERATIONS / LOAN OPERATIONS 8k - 15k 15k - 35k 35k - 45k 45k - 60k 60k - 100k 8k - 15k 15k - 35k 35k - 45k 45k - 60k 60k - 100k INSURANCE FINANCIAL SERVICES BASIC SALARY (PER MONTH) ROLE SENIOR DIRECTOR BD / ACCOUNT MANAGEMENT 15k - 30k 30k - 50k 50k - 70k UNDERWRITING 15k - 30k 30k - 50k 50k - 70k ACTUARY 15k - 25k 25k - 50k 50k - 80k CLAIMS 10k - 20k 20k - 35k 35k - 65k CORPORATE & RETAIL BANKING FINANCIAL SERVICES BASIC SALARY (PER MONTH) ROLE ASSOCIATE / NON- OFFICER ASSOCIATE / AVP / VP / SENIOR SVP / DIRECTOR WEALTH MANAGEMENT SALES PRODUCT MANAGEMENT / MARKETING CASH MANAGEMENT (SALES) CORPORATE RELATIONSHIP 10k - 20k 20k - 35k 35k - 50k 40k+ 10k - 20k 20k - 35k 35k - 50k 50k+ 15k - 25k 25k - 35k 35k - 65k 65k - 90k 15k - 25k 25k - 35k 35k - 65k 65k - 90k TRADE FINANCE (SALES) 15k - 25k 25k - 40k 40k - 75k 75k - 95k 7

8 BANKING & FINANCIAL SERVICES PRIVATE EQUITY FINANCIAL SERVICES BASIC SALARY (PER MONTH) ROLE ANALYST ASSOCIATE AVP / VP DIRECTOR MANAGING DIRECTOR RESEARCH ANALYST 12k - 25k 25k - 40k 40k - 60k PRIVATE EQUITY INVESTMENT TEAM INVESTMENT BANKING (FRONT OFFICE) CORPORATE FINANCE MERGERS & ACQUISITIONS 15k - 40k 40k - 70k 50k - 80k 80k - 100k 100k+ 15k - 40k 40k - 70k 60k - 80k 80k - 100k 100k+ 12k - 25k 25k - 40k 40k - 75k 80k+ 100k+ RISK MANAGEMENT FINANCIAL SERVICES BASIC SALARY (PER MONTH) ROLE ASSOCIATE / AVP / VP / SENIOR SVP / DIRECTOR MARKET RISK 25k - 40k 50k - 80k 80k - 110k 110k+ DIRECTOR / SENIOR DIRECTOR CREDIT RISK 25k - 35k 45k - 65k 65k - 90k 90k - 120k COMPLIANCE 25k - 40k 45k - 65k 65k - 90k 90k - 120k LEGAL 25k - 40k 45k - 60k 60k - 85k 85k - 150k 8

9 FINANCE & ACCOUNTING TOP 3 MOST IN-DEMAND POSITIONS: FP&A Manager Compliance Manager Commercial Finance Manager 9

10 FINANCE & ACCOUNTING As a result of the sluggish Chinese economy, there has been minimal job creation in the finance sector and salaries remain flat. Companies undergoing cost saving and headcount control often see an increased workload for the financial control division, which can result in extra headcount. Therefore, for those businesses entering Mainland China, whether a wholly foreign-owned enterprise or a joint venture, finance and accounting leaders are in high demand. The skill sets of these finance professionals allow them to help the companies register, set up the business, and grow over the short to long term. Turnover is the highest in the financial planning and analysis (FP&A) team within the financial control division. Professionals in this area are ambitious and eager to progress quickly. Therefore, FP&A specialists have been moving from job to job consistently in the past few years, with replacement, as well as investment headcount, being a key trend in this high demand area. AS A RESULT OF THE SLUGGISH CHINESE ECONOMY, THERE HAS BEEN MINIMAL JOB CREATION IN THE FINANCE SECTOR AND SALARIES REMAIN FLAT. ACCOUNTING & FINANCE BASIC SALARY (PER MONTH) ROLE ACCOUNTANT SENIOR ACCOUNTANT SENIOR DIRECTOR / CFO REGIONAL FINANCE DIRECTOR / CFO 110k+ FINANCE DIRECTOR 70k - 120k GROUP / REGIONAL FINANCIAL CONTROLLER 50k - 70k 60k - 120k FINANCIAL CONTROLLER 40k - 60k 60k - 80k FINANCE 18k - 35k 30k - 45k FP&A 8k - 15k 12k - 20k 25k - 40k 40k - 65k 60k - 100k INTERNAL AUDIT 13k - 15k 15k - 25k 30k - 50k 50k - 65k 65k - 100k TREASURY 11k - 15k 15k - 25k 30k - 50k 50k - 65k 65k - 100k TAX 8k - 15k 16k - 25k 30k - 50k 50k - 65k 70k - 110k COST ACCOUNTING 8k - 15k 15k - 23k 25k - 35k 10

11 IT TOP 3 MOST IN-DEMAND POSITIONS: Mobile Developing Manager/Director Product Manager/Director Project Manager 11

12 IT There has been a significant flow of talent from the traditional IT sectors to the ecommerce and Internet sectors. The booming market within the Internet sector has resulted in considerable talent shortage, especially in the product area. Furthermore, a talent shortage also exists in new cutting edge technologies such as Cloud computing and mobile technologies. An increasing number of professionals from multinational IT companies are willing to take opportunities at fast-growing local Internet firms. The salaries of these in-demand Internet professionals can go way above the average market rate. Local companies have been known to offer over 50 percent increases in base salary for exceptional individuals, overheating salaries in parts of the Internet sector. THE BOOMING MARKET WITHIN THE INTERNET SECTOR HAS RESULTED IN CONSIDERABLE TALENT SHORTAGE, ESPECIALLY IN THE PRODUCT AREA. There is significant demand for IT professionals in the following areas: project managers for the manufacturing industry, business analysts for the pharmaceutical industry, application managers for the retail/wholesale sector and business consultants for IT industry / consulting firms. INFORMATION TECHNOLOGY BASIC SALARY (PER MONTH) ROLE INFRASTRUCTURE BUSINESS ANALYST PROJECT APPLICATION IT DIRECTOR MANUFACTURING INDUSTRY 25k - 40k 18k - 25k 25k -35k 30k - 45k 50k+ BANKING 35k - 60k 25k - 35k 20k - 40k 20k - 35k 55k+ PHARMACUTICAL INDUSTRY 30k - 40k 20k - 30k 25k - 38k 35k - 45k 55k+ FMCG 20k - 30k 15k - 20k 20k - 30k 25k - 35k 45k+ RETAIL / WHOLESALE 20k - 30k 15k - 20k 20k - 30k 28k - 40k 40k+ ROLE SOFTWARE ENGINEER BUSINESS CONSULTANT PROJECT PROGRAM / ARCHITECT IT INDUSTRY / CONSULTING FIRM 15k - 25k 15k - 30k 20k - 30k 25k - 45k 12

13 HUMAN RESOURCES TOP 3 MOST IN-DEMAND POSITIONS: HR Business Partner Talent Development Manager Head of HR 13

14 HUMAN RESOURCES The transformation of the human resources (HR) department from a support team into an enabling function has seen the HR market continue to grow despite a slowdown in China s economy. More companies have begun the conversion from a HR generic team into three specialised functions: HR business partner, centre of excellence and a shared service centre. The restructuring in this function has increased demand for new investment headcount, and to upgrade existing HR personnel, from generalists to specialists. HR BUSINESS PARTNERS, THOSE IN TALENT DEVELOPMENT AND TOTAL REWARDS, AS WELL AS HR HEADS FOR THE INTERNET AND HIGH TECH INDUSTRIES ARE MOST IN DEMAND. HR business partners, those in talent development and total rewards, as well as HR heads for the Internet and high tech industries are most in demand. GENERAL HUMAN RESOURCES COMMERCE & INDUSTRY BASIC SALARY (PER MONTH) ROLE RMB PER MONTH HR DIRECTOR / HEAD HR / HR BUSINESS PARTNER HR ASSOCIATE / ASSISTANT HR HR OFFICER / ASSISTANT RECRUITMENT HEAD / DIRECTOR RECRUITMENT SPECIALIST LEARNING & DEVELOPMENT HEAD TALENT DEVELOPMENT / ORGANISATIONAL DEVELOPMENT DIRECTOR LEARNING & DEVELOPMENT TRAINING LEARNING & DEVELOPMENT OFFICER COMPENSATION AND BENEFITS DIRECTOR COMPENSATION AND BENEFITS COMPENSATION AND BENEFITS SPECIALIST 60k - 120k 20k - 60k 8k - 20k 15k - 20k 40k - 70k 15k - 20k 40k - 70k 50k - 70k 20k - 40k 10k - 20k 50k - 100k 30k - 50k 15k - 30k 14

15 SALES & MARKETING TOP 3 MOST IN-DEMAND POSITIONS: Sales VP Key Account Manager Digital Marketing Manager 15

16 SALES & MARKETING CONSUMER 2014 was a challenging year for the retail sector and this trend is set to continue in Qualified and well trained sales professionals will still be in high demand across major cities in Mainland China. The fast moving consumer goods (FMCG) industry continues to expand, increasing the need for commercial talent. Market indicators highlight a continued focus on improving client service levels and the overall client experience. Professionals in this space can expect more opportunities and an attractive remuneration aligned with this growth. Sales vice-presidents (VPs), key account managers, marketing managers and digital marketing managers are in high demand WAS A CHALLENGING YEAR FOR THE RETAIL SECTOR AND THIS TREND IS SET TO CONTINUE IN MANUFACTURING 2014 was an unusual year in the manufacturing sector. On the one hand, digitisation and intellectualisation of research and design technology have become increasingly apparent. The result of this is a shorter delay between design and manufacturing, thus reducing costs for new products entering the market. On the other hand, intelligent equipment, such as robots and automated production lines, are increasingly common. Adding to this, the machine replacing human has been an important mean for enterprises to improve production efficiency and reduce personnel costs. Sales VPs, key account managers, BU parts sales managers, marketing managers, digital marketing managers, event managers and project managers are highly sought after. SALES VPS, KEY ACCOUNT S, BU PARTS SALES S, MARKETING S, DIGITAL MARKETING S, EVENT S AND PROJECT S ARE HIGHLY SOUGHT AFTER. 16

17 SALES & MARKETING SALES & MARKETING BASIC SALARY (PER MONTH) ROLE MANUFACTURING CONSUMER SALES GM 70k - 100k SALES VP 65k - 85k 50k - 85k NATIONAL SALES DIRECTOR 50k - 80k 50k - 80k REGIONAL SALES 20k - 35k 20k - 35k KEY ACCOUNT 20k - 35k 15k - 25k BD 25k - 35k BU PARTS SALES 20k - 35k 15k - 30k BUSINESS LINE GENERAL 50k - 75k 50k - 95k MARKETING DIRECTOR 55k - 75k 50k - 90k MARKETING 25k - 45k 20k - 40k COMMUNICATION 18k - 35k 20k - 35k DIGITAL MARKETING 25k - 35k 20k - 45k EVENTS 25k - 35k 20k - 35k PRODUCT DIRECTOR PORTFOLIO OF AP PORTFOLIO OF CHINA CATEGORY 60k - 90k 40k - 60k 35k - 50k 25k - 35k PRODUCT 18k - 28k 20k - 35k PROJECT DIRECTOR 50k - 80k PROJECT 30k - 50k 15k - 25k 17

18 OPERATIONS & SUPPLY CHAIN TOP 3 MOST IN-DEMAND POSITIONS: General Manager Head of Supply Chain Operation Director 18

19 OPERATIONS & SUPPLY CHAIN Recruitment across the insurance industry has remained buoyant, with significant demand for claims professionals and risk and compliance managers in particular. Industry standard APA (Accredited Product Adviser), CIP (Professional Diploma in Insurance) and ACII (Advanced Diploma in Insurance) qualifications continue to be highly sought after by employers, in customer sales, retention, back office, claims and underwriting positions. There has been demand across life and general insurance particularly in functions such as new business, sales, broker support, claims, risk, compliance, customer service and retention The life and pensions administration market that had dominated recruitment needs has now stabilised. The demand is shifting to in-house pension roles as large organisations are scaling back on defined benefit schemes and are moving to defined contribution. The general improved outlook has led to an increased demand for hybrid professionals with rewards / pension experience within internal reward and benefits teams. We expect to see a further move from longer duration contracts (12+ months) to permanency for specialist or management level positions as companies compete strongly to attract and retain this talent. Career progression as well as company reputation, flexibility and location are key factors that continue to entice insurance professionals to explore new opportunities. In line with the overall financial services industry, the majority of specialist insurers, reinsurers, and life and investment organisations are headquartered in Dublin. The broker network in particular provides opportunities nationally. DEMAND IS SHIFTING TO IN-HOUSE PENSION ROLES AS LARGE ORGANISATIONS ARE SCALING BACK ON DEFINED BENEFIT (DB) SCHEMES AND ARE MOVING TO DEFINED CONTRIBUTION (DC). THE GENERAL IMPROVED OUTLOOK HAS LED TO AN INCREASED DEMAND FOR HYBRID PROFESSIONALS WITH REWARDS /PENSION EXPERIENCE WITHIN INTERNAL REWARD AND BENEFITS TEAMS. Professionals in more senior specialist or customer facing roles have expressed their expectations of an increase in salary this year (averaging between 5-10%) when undertaking a decision to change employers. Due to new business and sales requirements within insurance, QFA (Qualified Financial Adviser) and CIP (Professional Diploma in Insurance) qualifications are essential for most customer facing roles. Employers are continually looking for insurance professionals with advanced qualifications such as DLDU, MDI, FCII and ACII (General Insurance) and IIPM and FLIA. There is significant benchmarking happening in the market amongst employers in their efforts to ensure their total rewards and benefits offering remains competitive and relevant to this talent pool. As the insurance market has stabilised and companies are looking to grow their operations, we predict a pay increase of 2-5% in Increases will be likely at both managerial and non managerial level. 19

20 OPERATIONS & SUPPLY CHAIN MANUFACTURING & ENGINEERING COMMERCE & INDUSTRY BASIC SALARY (PER MONTH) ROLE PRESIDENT GENERAL EHS SERVICE DIRECTOR SERVICE SALARY (PER MONTH) 80k - 150k 50k - 120k 25k - 60k 25k - 40k 20k - 30k SUPPLY CHAIN COMMERCE & INDUSTRY BASIC SALARY (PER MONTH) ROLE OPERATIONS VP GENERAL OPERATIONS DIRECTOR SUPPLY CHAIN DIRECTOR PLANT SUPPLY CHAIN SOURCING LOGISTICS PRODUCTION SUPPLIER QUALITY SOURCING ENGINEER SUPPLIER QUALITY ENGINEER R&D ENGINEER SUPPLY CHAIN SUPERVISOR SALARY (PER MONTH) 60k - 100k 50k - 120k 40k - 65k 40k - 60k 30k - 60k 20k - 30k 18k - 35k 16k - 30k 20k - 35k 20k - 30k 12k - 20k 10k - 25k 10k - 25k 8k - 20k 20

21 HEALTHCARE TOP 3 MOST IN-DEMAND POSITIONS: Product Manager Clinical Scientist Pre-Clinical Scientist 21

22 HEALTHCARE The growth in the healthcare and life sciences sector remains positive and the market indicates a promising perspective for Recruiters foresee greater demand for overseas scientists in research and development (R&D). Those who already have China exposure will be highly sought after in both preclinical and clinical markets. Product and equipment expertise will be very important for sales and marketing candidates within these markets and there will be a need for regulatory affairs talent. Product managers are in high demand within this market. PRODUCT AND EQUIPMENT EXPERTISE WILL BE VERY IMPORTANT FOR SALES AND MARKETING CANDIDATES WITHIN THESE MARKETS. HEALTHCARE BASIC SALARY (PER MONTH) ROLE SCIENTIST DIRECTOR, R&D DATA PROGRAMMING BIOSTATISTICIAN STATISTICAL CLINICAL RESEARCH CLINICAL PROJECT CLINICAL DIRECTOR PRODUCT MARKETING MARKETING DIRECTOR SALARY (PER MONTH) 20k - 50k 50k - 70k 15k - 30k 25k - 35k 15k - 30k 25k - 40k 20k - 40k 20k - 50k 40k - 60k 20k - 35k 25k - 45k 45k - 60k 22

23 SALARY SURVEY RESULTS SALARY SURVEY RESULTS HIGHLIGHTS % of those who responded have ten or more years of experience 82% of Mainland China s professionals have seen their annual salaries increase 76% of professionals received or are expecting to receive an annual bonus for

24 SALARY SURVEY RESULTS Demographics Morgan McKinley surveyed professionals in Mainland China for the Salary Survey in January Respondents are all professionals on the Morgan McKinley database and from our website morganmckinley.com.cn, who are engaged in a range of specialist sectors such as Financial Services, Technology, Retail/FMCG, Chemical, Construction & Engineering, IT, Public Sector, Media, Pharmaceutical, Healthcare and Legal with the majority of respondents from the Technology sector (22%) followed by the Banking and Financial Services sector (16%). Just under two thirds (64%) of the 162 professionals surveyed are male, 35 percent are female, whilst the remainder prefer not to say. They ranged in age from years with 13% in the bracket, 44% in the bracket, 31% in the bracket and 12% in the 51+ the bracket. Thirty percent of those who responded have ten or more years of experience in their current role or a similar role. A further 30 percent have between 6-9 years of experience. One quarter (25%) of respondents have 3-5 years of experience and the remaining 15 percent have 1-2 years of experience. THIRTY PERCENT OF THOSE WHO RESPONDED HAVE TEN OR MORE YEARS OF EXPERIENCE IN THEIR CURRENT ROLE OR A SIMILAR ROLE. 24

25 SALARY SURVEY RESULTS Has your salary increased over the past twelve months (permanent employees)? The overwhelming majority (82%) of professionals who responded say they have had a pay increase in the last year. Fifteen percent say that their salary remains unchanged and the remainder say their salary has decreased. Thirty-five percent of professionals, who received a pay increment, say this was between 5-8 percent. One quarter (25%) of respondents say they received an increase of more than 13 percent. A further 24 percent say their increase was 9-12 percent and the remainder (16%) say it was between 1-4 percent. performance indicators (KPIs) (73%), as well as group and company performance (64%). A further 9 percent say annual pay increases are based upon exceeding one s own personal sales targets. Other factors listed by survey respondents include; completion of probation period, change of job, promotion and a change in position. THIRTY-FIVE PERCENT OF PROFESSIONALS, WHO RECEIVED A PAY INCREMENT, SAY THIS WAS BETWEEN 5-8 PERCENT. The majority of professionals, who responded, say pay increments were based upon achieving personal key 25

26 SALARY SURVEY RESULTS Have you received or are you expecting an annual bonus from your employer for 2014 (permanent employees)? Out of those professionals who responded, a vast majority (76%) say they have received or are expecting an annual bonus for However, 15 percent say they have not received or are not expecting an annual bonus for last year. A further nine percent do not receive bonuses at all. In terms of bonus payments, 34 percent of survey respondents say this increased between 1-4 percent. Just over one quarter (27%) say their annual bonus increased 5-8 percent and 19 percent say this was between 9-12 percent. One fifth (20%) say they have received a bonus increase of more than 13 percent. Meeting personal KPIs (46%) and group or company performance (44%) are seen as two main factors in deciding annual bonus payments. Nine percent of professionals who responded say bonuses are based upon exceeding personal sales targets. MEETING PERSONAL KPIS (46%) AND GROUP OR COMPANY PERFORMANCE (44%) ARE SEEN AS TWO MAIN FACTORS IN DECIDING ANNUAL BONUS PAYMENTS. PLACE GRAPH HERE 26

27 SALARY SURVEY RESULTS As part of your remuneration, what are the benefits in your current package? The vast majority of those professionals who responded say the following are already included as part of their remuneration package: holidays (81%), health/life insurance (75%), annual bonus scheme (67%), laptop computer (60%), and mobile phone (59%). A significant proportion of those surveyed also receive the following: training (44%), maternity/ paternity leave (43%), and pension and superannuation scheme (43%). Other benefits listed by professionals include; flexible working, share incentive/option scheme, paid study leave, gym membership, housing allowance and meal allowance. Just three percent say they receive no benefits at all. OTHER BENEFITS LISTED BY PROFESSIONALS INCLUDE; FLEXIBLE WORKING, SHARE INCENTIVE/OPTION SCHEME, PAID STUDY LEAVE, GYM MEMBERSHIP Which remuneration benefits are most important to you? An annual bonus scheme (62%) and holidays (58%) are the most important benefits for professionals in Mainland China. Of those who responded, 43 percent list both life / health insurance and training as notable benefits. A further thirty percent cite flexible working arrangements as being a valued benefit, whilst one quarter (25%) say paid study leave is important. Twenty-one percent value a share incentive/option scheme and one fifth (20%) say a pension or superannuation scheme is important. The least important benefits amongst Mainland China s professionals include: mobile phone, laptop/ computer, maternity/paternity leave and gym membership. AN ANNUAL BONUS SCHEME (62%) AND HOLIDAYS (58%) ARE THE MOST IMPORTANT BENEFITS FOR PROFESSIONALS IN MAINLAND CHINA. Do you think female employees in your company are earning less than male employees in the same role? The majority (65%) of those who responded do not believe female employees earn less than their male counterparts, whilst eleven percent of professionals say women are earning less in the same role. Just under one quarter (24%) say they are unsure on this. 27

28 CONTACT US Morgan McKinley Suite F, Hang Seng Bank Tower 1000 Lujiazui Ring Road Pudong New Area Shanghai Tel: Fax: E: 28

29 morganmckinley.com.cn 29

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