ASIA S TALENT GAP SALARY AND RECRUITING INSIGHTS TO BRIDGE THE DIVIDE

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1 ASIA S TALENT GAP SALARY AND RECRUITING INSIGHTS TO BRIDGE THE DIVIDE The 2015 Hays Asia Salary Guide

2 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

3 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.

4 MARKET OVERVIEW & TRENDS

5 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.

6 SALARY INCREASES 1. Average % increases from last reviews across all countries: 6% 22% 43% 21% 8% Nil Less than 3% From 3% to 6% From 6% to 10% More than 10% MARKET OVERVIEW & TRENDS: SALARY POLICY By country: China Hong Kong Japan 6 22 Singapore Malaysia Hays Salary Guide - Asia

7 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: China Hong Kong Japan Singapore Malaysia 2015 Hays Salary Guide - Asia 7

8 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? MARKET OVERVIEW & TRENDS: SALARY POLICY 10% 19% 33% 19% 19% Nil Less than 3% From 3% to 6% From 6% to 10% More than 10% China Hong Kong Japan Singapore Malaysia Hays Salary Guide - Asia

9 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% 31% 30% 22% Health Life assurance Car/car allowance Pension Housing allowance 17% 16% 9% 9% 5% Other Club/gym membership Tax equalisation Hardship allowance Private expenses *More than one may be applicable Hays Salary Guide - Asia 9

10 BENEFITS Benefits provided by country: China Hong Kong Japan MARKET OVERVIEW & TRENDS: SALARY POLICY 50% Health 37% Life assurance 34% Car/car allowance 24% Pension 31% Housing allowance 14% Other 16% Club/gym membership 8% Tax equalisation 7% Hardship allowance 9% Private expenses Singapore 61% Health 37% Life assurance 40% Car/car allowance 13% Pension 15% Housing allowance 18% Other 13% Club/gym membership 7% Tax equalisation 4% Hardship allowance 6% Private expenses Hays Salary Guide - Asia 62% Health 59% Health 48% Life assurance 25% Life assurance 12% Car/car allowance 11% Car/car allowance 45% Pension 21% Housing allowance 24% 51% Pension Housing allowance 14% Other 14% Other 11% Club/gym membership 18% Club/gym membership 9% Tax equalisation 18% Tax equalisation 4% Hardship allowance 7% Hardship allowance 3% Private expenses 5% Private expenses Malaysia 64% Health 47% Life assurance 58% Car/car allowance 16% Pension 17% Housing allowance 24% Other 23% Club/gym membership 5% Tax equalisation 20% Hardship allowance 2% Private expenses

11 BONUSES 4. What percentage of staff will be awarded bonuses this year? $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 12% Nil 15% Less than 10% 13% From 10% to 20% 9% From 20% to 50% 51% More than 50% 5. Are bonuses related to*: 80% 73% 11% 5% 4% Employee performance Employer performance Guaranteed Other Hours billed *More than one may be applicable. 6. What percentage of staff salary do you intend to award as a bonus? $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 34% Less than 10% 44% From 11% to 50% 11% From 51% to 99% 11% 100% 2015 Hays Salary Guide - Asia 11

12 STAFFING 7. Over the last 12 months, have permanent staff levels in your department... 14% Decreased 42% Remained the same 44% Increased 8. In the next 12 months, do you expect permanent staff levels in your department to... MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS 7% Decrease Hays Salary Guide - Asia 45% Remain the same 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% EMPLOYMENT OF PART TIME STAFF 45% TEMPORARY/ CONTRACTORS 48% Increase 16% 9% 5% CASUAL STAFF JOB SHARING OTHER

13 STAFFING 10. How often do you employ temporary/contract staff? 31% Exceptional circumstances/ never 43% Special projects/ workloads 26% Regular ongoing basis 11. In the next 12 months, do you expect your use of temporary/contact staff to... 13% Decrease 66% Remain the same 21% Increase 12. Do skills shortage have the potential to hamper the effective operation of your business? 45% Yes without a doubt 50% Yes there will be some impact 5% 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 2015 Hays Salary Guide - Asia 13

14 STAFFING 13. In skill-short areas, would you consider employing or sponsoring a qualified overseas candidate? 65% YES 35% NO MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS 14. Does your workplace allow for flexible work practices? 58% YES If yes, which practices do you currently offer?* 74% Flexible working hours 15% Career breaks *More than one may be applicable Hays Salary Guide - Asia 42% NO 46% Flex-place 14% Job sharing 41% Part time employment 4% Phased retirement 16% Flexible leave options

15 STAFFING 15. For which areas have you recently found it difficult to recruit? Junior to mid management Senior management Junior to mid management Human Resources 10% 10% 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% Senior management 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: 4% 22% 43% 31% Stay less than 3 months Stay 3 to 12 months Stay longer than 12 months Left anyway 2015 Hays Salary Guide - Asia 15

16 STAFFING 18. Over the last 12 months has overtime/extra hours in your organization: MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS 13% DECREASED 45% UNPAID Hays Salary Guide - Asia 56% REMAINED THE SAME 19. If increased, by how much per week: 45% 5 hours or less 5 to 10 hours More than 10 hours 20. Are employees paid for these additional hours? *e.g. time in lieu 35% 20% OTHER* 20% 31% INCREASED 35% PAID

17 EMPLOYER BRANDING 21. Which factors do you think have the most impact on your employer brand? Level of importance No impact Minor impact Some impact Significant impact Major impact Career path/training & development The company s financial health and stability The company s products or services An individual s fit with the company s vision, culture and values Direct/indirect experience of the company Salary and benefits Work/life balance 2015 Hays Salary Guide - Asia 17

18 EMPLOYER BRANDING MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS & ECONOMIC OUTLOOK 22. How favourable do you think the market perception is of your organization according to these factors? Organizational perception Poor Okay Good Very Good Excellent 5 Career path/training & development 4 The company s vision, culture and values 3 Direct/indirect experience of the company 3 Salary and benefits Work/life balance Hays Salary Guide - Asia

19 EMPLOYER BRANDING 23. What percentage of women do you have in management positions? 29% ACROSS ALL COUNTRIES By country: 36% 31% 19% 27% 34% China Hong Kong Japan Singapore Malaysia BUSINESS ACTIVITY 24. In the past 12 months has business activity... 14% DECREASED 22% REMAINED THE SAME 64% INCREASED 25. In the next 12 months, do you envisage business activity... 7% DECREASING 21% REMAINING THE SAME 72% INCREASING 2015 Hays Salary Guide - Asia 19

20 BUSINESS ACTIVITY 26. What level of impact do the following key factors have in driving your level of business? None Some Significant Consumer/business confidence MARKET OVERVIEW & TRENDS: ECONOMIC OUTLOOK Interest rates Currency/forex rates Capex investments Projects driven by government Current economic conditions Ability to raise financing Natural disaster restoration Hays Salary Guide - Asia What is your perception of the general outlook for the local economy in the next 6-12 months?* 54 $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ $$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$ 18% Weakening *This data was collected during October & November % Static % Strengthening

21 MONEY TALKS WIN THE RACE TO SECURE TOP TALENT SALARY INFORMATION: SALARIES & SECTOR OVERVIEWS

22 ACCOUNTANCY & FINANCE SALARY INFORMATION: ACCOUNTANCY & FINANCE CHINA 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. 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 Conditions are now on track for increased recruitment activity and even salary increases this year. 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 s, Commercial s/business Finance s and Internal Control s. 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. 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. HONG KONG Overall, Hong Kong employers are expected to take a conservative approach to salaries in 2015 as controlling costs remains a major focus Hays Salary Guide - Asia 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. Candidates in greatest demand in the financial services sector include Regulatory Reporting Analysts, Financial Regulatory Reporting s, Financial Controllers, Financial Analysts and Tax s. In the commercial sector, Financial Planning & Analysis s are highly sought. Employers are looking specifically for professionals with strong analytical, interpersonal and communication skills who can adapt to fast changing environments. 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. 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. JAPAN 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.

23 ACCOUNTANCY & FINANCE SINGAPORE With positive hiring intentions for both permanent and temporary staff in Singapore, the salary market is set for another good year for candidates. 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. 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. MALAYSIA 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. 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 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, Finance Controller and Finance Director are in particular demand to take on senior roles and help lead these efforts. 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. Best in Finance & Accounting Recruitment, Asia CFO Innovation Awards 2012, 2013 & 2014 In China we expect salary increases for accountancy and finance professionals in Tier 2 and 3 cities to pick up pace this year 2015 Hays Salary Guide - Asia 23 SALARY INFORMATION: ACCOUNTANCY & FINANCE

24 ACCOUNTANCY & FINANCE Commerce & Industry Senior Finance FINANCE DIRECTOR/CFO SME MID MNC China 700-1, ,200 1,000-2,500 Hong Kong 1,000-1,500 1,200-2,000 1,400-3,000 Japan Singapore Malaysia FINANCIAL CONTROLLER SME MID MNC China ,300 Hong Kong , ,350 Japan Singapore Malaysia SENIOR FINANCE MANAGER SME MID MNC China Japan Singapore Malaysia FINANCE MANAGER SME MID MNC China Hong Kong Japan Singapore Malaysia ASSISTANT FINANCE MANAGER SME MID MNC China Japan Singapore Malaysia SENIOR MANAGEMENT ACCOUNTANT SME MID MNC China Japan Singapore Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Top of range in MNCs implies regional role Job titles in global organizations vary greatly from European/American/North American companies SME - Small to medium enterprise MID - Medium to large MNC - Multinational companies Hays Salary Guide - Asia

25 ACCOUNTANCY & FINANCE Commerce & Industry Senior Finance MANAGEMENT ACCOUNTANT SME MID MNC China Hong Kong Japan Singapore Malaysia SENIOR FINANCIAL ACCOUNTANT SME MID MNC China Japan Singapore Malaysia N/A N/A N/A FINANCIAL ACCOUNTANT SME MID MNC China Hong Kong Japan Singapore Malaysia FP&A DIRECTOR SME MID MNC China N/A N/A 800-1,200 Hong Kong 840-1, ,200 1,080-1,500 Japan Singapore Malaysia N/A FP&A MANAGER SME MID MNC China N/A N/A Hong Kong Japan Singapore Malaysia FINANCIAL ANALYST SME MID MNC China Hong Kong Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Top of range in MNCs implies regional role Job titles in global organizations vary greatly from European/American/North American companies SME - Small to medium enterprise MID - Medium to large MNC - Multinational companies 2015 Hays Salary Guide - Asia 25

26 ACCOUNTANCY & FINANCE Commerce & Industry Senior Finance TAX DIRECTOR/HEAD SME MID MNC China ,500 Hong Kong ,000 1,080-1,600 Japan N/A Singapore Malaysia N/A TAX MANAGER SME MID MNC China Hong Kong ,080 Japan N/A Singapore Malaysia N/A TAX ACCOUNTANT SME MID MNC China Japan N/A Singapore Malaysia HEAD OF INTERNAL AUDIT SME MID MNC China N/A ,500 Hong Kong ,200 1,200-1,600 Japan N/A Singapore Malaysia N/A INTERNAL AUDIT MANAGER SME MID MNC China N/A Hong Kong Japan N/A Singapore Malaysia INTERNAL AUDITOR SME MID MNC China N/A Hong Kong Japan N/A Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Top of range in MNCs implies regional role Job titles in global organizations vary greatly from European/American/North American companies SME - Small to medium enterprise MID - Medium to large MNC - Multinational companies Hays Salary Guide - Asia

27 ACCOUNTANCY & FINANCE Commerce & Industry Senior Finance HEAD OF TREASURY/ CORPORATE TREASURER SME MID MNC China N/A N/A 600-1,300 Hong Kong 840-1, ,200 1,200-2,000 Japan N/A Singapore ASSISTANT AUDIT MANAGER SME MID MNC China N/A N/A Japan N/A Singapore Malaysia SENIOR TREASURY MANAGER SME MID MNC China N/A Japan N/A Singapore TREASURY MANAGER SME MID MNC China Hong Kong Japan N/A Singapore TREASURY SPECIALIST SME MID MNC China Hong Kong N/A N/A N/A Japan N/A Singapore TREASURY ACCOUNTANT SME MID MNC China Japan N/A Singapore HEAD OF COMPLIANCE SME MID MNC China N/A ,300 Hong Kong ,100-1,680 Japan N/A N/A N/A Singapore Malaysia N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Top of range in MNCs implies regional role Job titles in global organizations vary greatly from European/American/North American companies SME - Small to medium enterprise MID - Medium to large MNC - Multinational companies 2015 Hays Salary Guide - Asia 27

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