How much are you worth? 2016 Asia Salary Snapshot

Transcription

1 How much are you worth? Asia Salary Snapshot Links International 1

2 Contents 01 Who 02 We Are 06 Trending Banking & Financial Services Sales & Marketing, Retail and FMCG Human Resources, Secretarial & Administration Temporary & Contact Industrial 40 2 Links International Links International 3

3 Salary Snapshot A note from Links International s Managing Director, Nick Lambe Welcome to Links International s Salary Snapshot. In order to put together this annual report, we have once again collated information from a wide range of candidates and clients across the Asia-Pacific region who responded to our salary survey. We have added to this information our own insights based on our observations and candidate placements we have made throughout the year. Through this Salary Snapshot, we aim to provide our clients and candidates with a concise overview of human resources and salary trends across Asia, including a glimpse of what will motivate professionals in. Across Asia, the hiring market in 2015 has continued to increase, although at a slightly slower pace than the previous year, and this is expected to continue into. Results show that the hardest roles to recruit this past year were entry to middle level management roles in sales, operations, accountancy and finance, and especially for senior audit staff. The majority of employers across the region, with the exception of those in Singapore, stated that they had increased salaries by 3-6% during the past year. Overall, China had the largest salary increases, with 15% of respondents stating they had increased salaries by more than 10 percent, and Singapore the lowest with over 50% of respondents saying they had barely increased salaries at all. In, China wages are expected to continue to grow, whilst other markets expect a relatively similar growth to Bonuses in the past year were heavily based on employee performance (86%) across all regions, followed by employer performance (75%). Employees in Hong Kong received the largest bonuses on average, with 27% of employees receiving bonuses in excess of 25% of their annual packages. An interesting change over 2015 is the percentage of employers who would consider sponsoring qualified expats. Hong Kong employers continue to be eager to hire overseas talent (42% of respondents), whilst the percentage in China has dropped from 2014 s 44% to 21%. Most interestingly, whilst only 18% of Singapore employers expressed a positive interest in overseas talent in 2015, this percentage shot up to over 50% for, despite the Ministry of Manpower Singaporeans First policy! I hope you enjoy reading our Salary Snapshot and we look forward to working with you this year. Should you have any thoughts regarding current salary or human resources trends in Asia, we would be delighted to hear from you. Nick Lambe Managing Director nick.lambe@linksinternational.com 4 Links International Links International 5

4 Recognition in Asia Recruitment Awards Best Recruitment Innovation HR Vendors of the Year Awards 2015 Singapore - Best Payroll Outsourcing Partner HR Vendors of the Year Awards 2015 Hong Kong Best Recruitment Firm (Mid-Management Roles) 01 Who We Are Links International - Leading the way in HR innovation in Asia HR Vendors of the Year Awards 2015 Hong Kong Best Payroll Outsourcing Partner Links International is an award-winning industry leader in innovative recruitment, payroll and human resources outsourcing in Asia. Links International was established in 1999 and has offices in Hong Kong, Singapore, Shanghai, Beijing, Macau and Zhuhai. Links International specialises in recruitment within the following sectors: Banking and financial services Sales and marketing Retail FMCG Human resources and administration Industrial Temporary and contract Recruitment International Awards Consumer & FMCG Recruitment Company of the Year As a medium-sized company with offices in key growth markets within Asia, we utilise innovation and technology in order to react quickly and effectively to the changing trends and market dynamics. 6 Links International Links International 7

5 Thank you Disclaimer We would like to thank all of our candidates and clients who participated in our salary survey, in order to help us compile our Asia Salary Snapshot. Your insights are crucial to ensuring that we continue to provide you with expert knowledge of all employment trends in the region to help support your business decisions. Links International s Salary Snapshot is carefully put together using data derived from a survey that was sent out to candidates and clients across the Asia-Pacific region. Whilst care is taken to ensure that all data is as accurate as possible, as with all surveys, the results are based on averages and there will of course be individual situations that fall outside of the data published here. This information should therefore be used only as a guide and should not be reproduced in part or in full without prior consent from Links International. Please do not hesitate to contact us for clarification regarding any of the following information. 8 Links International Links International 9

6 02 TRENDING Slightly less hunger for talent in Asia. Shortage of entry to middle-level candidates. During, employers expect their staff levels to: Top 3 areas employers on average found hardest to recruit (percentage of employers): 2015 increase 2015 remain static 40% 43% 52% 47% Commerce: Entry to middle level Operations 2015 Overall: 50 Entry to middle level Sales Banking: 20% 23% 19% 10% 8% 6% Entry to middle level Accounting & Finance Senior management level Legal Risk & Compliance Entry to middle level Risk & Compliance Entry to middle level Investment Banking Capital Markets 8% % decrease % 35% 28% Entry to middle level Operations Entry to middle level Sales Entry to middle level Marketing 10 Links International Links International 11

7 Less itchy feet. Counter-offering rarely works. How likely are candidates to change jobs in the next 6 months: 2/3rds of employer respondents were open to counter-offering resigning candidates likely to move 43% 48% 2015 neutral 29% 27% However, only 1/3rd of employees who accepted would stay more than 12 months. 28% % likely to stay 12 Links International Links International 13

8 Increasing numbers of Longer work days. jumpy CVs. Percentage of candidates that had been in their role for less than 3 years: During 2015, employers stated overtime had: 76% 2015 increased 31% 32% 62% remained static 55% 55% 12% % decreased 14 Links International Links International 15

9 Limited work-life balance in China? Percentage of annual leave entitlement (by location) Hong Kong Singapore China Macau <10 days days days days >25 days Unlimited Hong Kong 6% 25% 54% 13% 1.5% 0.5% Singapore 2% 37% 38% 19% 5% 0% China 23% 46% 23% 8% 0% 0% Macau 21% 46% 25% 0% 0% 8% 16 Links International Links International 17

10 Performance-driven bonuses. An increase in flexibility. Employers reported that bonuses in 2015 were dependent on: Percentage of employers who use flexible staffing (e.g. employment of part-time staff, contractors, job sharing, interns, etc.): 51% % 84% 75% 67% % 15% 9% Employee Performance Employer Performance Guaranteed Bonus 6% Other 42% Links International Links International 19

11 On-boarding experiences still leave room for improvement. Singapore more open to expats; China less eager. Candidate satisfaction with their on-boarding experience when joining their current company: Percentage of employers who would consider sponsoring an expat (by location): 52% satisfied 53% % 34% 60% 48% 44% 59% 2015 neutral 36% 36% % 18% Hong Kong China Macau Singapore 12% % unsatisfied 20 Links International Links International 21

12 2015 salary increases reported by employers (by location). Expected salary increases reported by employers (by location). Hong Kong Singapore Hong Kong Singapore 23.09% 18.54% 31.71% 12.20% 13.66% 22.22% 34.92% 23.81% 14.29% 4.76% 8.29% 20.00% 42.93% 15.12% 13.66% 4.76% 25.40% 33.33% 20.63% 15.87% China Macau China Macau 23.08% 15.38% 23.08% 23.08% 15.38% 15.38% 23.08% 38.46% 7.69% 15.38% 15.38% 15.38% 38.46% 30.77% 15.38% 30.77% 23.08% 30.77% Year on Year Salary Increase (percentage): Nil Nil to 3% From 3% to 6% From 6% to 10% More than 10% Year on Year Salary Increase (percentage): Nil Nil to 3% From 3% to 6% From 6% to 10% More than 10% 22 Links International Links International 23

13 Salary is most important factor in job moves. Financial health & stability crucial to employment brand. Top 3 factors most likely to influence a candidate to move (by location): Top 3 factors employers thought were most important to their employment brand (by location): Rank Hong Kong Singapore China Macau Rank Hong Kong Singapore China Macau 1 Salary Salary Salary Salary 1 Company's Financial Health & Stability Company's Financial Health & Stability Career Path/Training & Development Available Company's Financial Health & Stability 2 Career Progression Work/Life Balance Career Progression Manager/ Leadership 2 Salary & Benefits Salary & Benefits Salary & Benefits Career Path/Training & Development Available 3 Work/Life Balance Career Progression Company Performance Work/Life Balance 3 An Individual's "Fit" with this Company's Vision, Cultures & Values Company's Products or Service Direct/Indirect Experience of the Company Salary & Benefits 24 Links International Links International 25

14 03 Banking & Financial Services MARKET REVIEW AND TRENDS Hong Kong, Singapore and China This sector has seen another year of flux with a very mixed bag of results across the market. Investment banking has seen some strong results, particularly in China and Hong Kong, where the combined IPO market raised $29bn by early December, with Hong Kong s $11.8bn alone outstripping New York s $9.8bn. The Equities markets in Hong Kong and China were particularly strong in Q1 and Q2, but saw a significant correction in H2 with many firms experiencing a worryingly quiet end to the year. The Equities market in Singapore has remained sluggish in 2015 seeing a dragging down effect caused by the slowing of the China market. Analysts expect that it will be some time more before this market starts to move in an upward trend again. A number of European firms have been through restructures, received significant fines and exited business lines throughout the year. This has therefore resulted in some downsizing and redundancies in these areas. This being said, some of the top US firms have delivered strong results and their outlook is positive. Similar to last year, Wealth and Asset Management firms are continuing to focus on growing cautiously. Meanwhile, having started the year strongly, in Q3 of 2015, the Private Equity market has seen the fewest PE funds closed since The Insurance market continues to grow steadily, particularly within Emerging Markets life businesses. However, a number of firms have been impacted by significant exposure to natural disasters and crisis in some parts of the region. Hiring trends across all regions: particularly on a contract basis. Furthermore, the PM/BA space within Singapore across a broad range of functions is buoyant. For the most part, these have come at analyst level, but we have also been seeing an increase in contract roles up to AVP level. Moreover, the demand of IT supporting roles has also increased. Sell-side Front Office roles haven t been particularly active this year, given the market sentiment, and therefore many firms are in a wait and see mode. With business lines being closed in some firms, we have seen a flow of candidates with Equities experience in both Hong Kong and Singapore. With regards to candidate movement within hedge funds and private equity, this remains very stable. Asset Management and fund houses remain active on the sales, marketing and investment roles, predominantly in the bigger fund houses. Bonus and Salary information: Our expectation however, is that salary increases in mainland China will be higher than Hong Kong and Singapore, with China estimated to be at 5.8%. With Singapore s inflation at 1.5% significantly lower than Hong Kong s at 2.7%, the expectation is that overall salary budgets in these two locations are projected to be similar, with Singapore s being 4.4% and Hong Kong s being 4.5%. With the dynamics in the market, it is difficult to talk generally about bonuses. However, we would expect to see the bonuses of top performers within firms that have grown year on year to be up 5-10%, yet we would also expect that other firms will be managing expectations to lower bonuses by up to 15-20%. Similar to previous years, we would expect that under performers would be getting very little in the way of bonuses, if anything at all. Average performers might expect to get 5% more if the firm is doing well and 10% less, or perhaps very little, if the firm has struggled. Ultimately, annual expectation management has started relatively early in the majority of firms. Salary Index As with previous years, the continuously challenging Client Onboarding - Analyst 1 to 3 20K - 40K 3K - 5K 8K - 15K regulatory environment has meant that the majority of hiring has fallen under the functions of Audit (where talent is very limited), Compliance, KYC, AML PRIVATE WEALTH and BRCM, as well as operations functions related to Private Banking Assistant 2+ 20K - 50K 3-8K N/A client onboarding and due diligence. Trade support on equity derivatives and exotic products remain an area where top quality talent is in demand across Hong Kong and Singapore. Market and credit risk roles have remained thin on the ground in Hong For more information, please contact Kong with primarily replacement hiring going on. Nick Lambe, Managing Director at Singapore, however, has seen a high volume of nick.lambe@linksinternational.com Market Risk positions at a junior to mid-level, or call Note: All salary ranges are represented in terms of basic salaries exclusive of bonuses, stock options or other variable incentives. Salaries 26 Links International will vary depending on industry and location. Links International 27 B & F Position No. of years experience Hong Kong Salary (HKD) Singapore Salary (SGD) China Salary (RMB) OPERATIONS Head of Operations K+ 25K+ 55K+ Operations/Settlements - VP 7 to 10 65K - 85K 13K - 24K 40K - 55K Operations/Settlements - AVP 3 to 7 35K - 55K 7K - 13K 25K - 40K Operations/Settlements - Analyst 2 to 4 18K - 35K 3K - 6K 8K - 15K Trade/Sales Support - VP 7 to 10 80K+ 10K - 20K 50K+ Trade/Sales Support - AVP 3 to 7 40K - 60K 6K - 10K 15K - 40K Trade/Sales Support - Analyst 1 to 3 25K - 40K 3K - 6K 8K - 15K MIDDLE OFFICE Head of Compliance K+ 13K - 29K 70K+ Compliance - VP 7 to K 10K - 15K 45K - 70K Compliance - AVP 3 to 7 45K - 60K 5K - 10K 25K - 45K Compliance - Analyst 1 to 3 20K - 40K 5K - 13K 10K - 25K Head of Risk K K 70K+ Risk - VP 7 to 10 60K - 100K 10K - 18K 45K - 70K Risk - AVP 3 to 7 40K - 60K 6K - 19K 25K - 45K Risk - Analyst 1 to 3 20K - 35K 3K - 6K 8K - 25K Head of Credit Risk K+ 14K+ 60K+ Credit Risk - VP 7 to 10 50K - 85K 9K - 14K 45K - 60K Credit Risk - AVP 3 to 7 25K - 50K 5K - 9K 20K - 45K Credit Risk - Analyst 1 to 3 15K - 25K 3K - 5K 8K - 20K Head of Client Services K+ 16K+ 50K+ Client Services - VP 7 to 10 65K - 80K 10K - 15K 40K - 50K Client Services - AVP 3 to 7 45K - 65K 6K - 9K 20K - 40K Client Services - Analyst 1 to 3 20K - 45K 3K - 6K 8K - 20K Head of Fund Accounting K+ 13K - 23K 55K+ Fund Accounting - VP 7 to 10 60K - 90K 10K - 15K 40K - 55K Fund Accounting - AVP 3 to 7 45K - 60K 5K - 8K 15K - 40K Fund Accounting - Analyst 1 to 3 25K - 45K 3K - 5K 8K - 15K Head of Client Onboarding K+ 13K - 20K 50K+ Client Onboarding - VP 7 to 10 70K - 95K 10K - 13K 30K - 45K Client Onboarding - AVP 3 to 7 40K - 65K 4K - 8K 15K -30K

15 Position No. of years experience Hong Kong Salary (HKD) Singapore Salary (SGD) China Salary (RMB) ASSET MANAGEMENT Sales Institutional - Director K - 150K 20K - 25K 55K - 70K Sales Institutional - VP 8 to 12 80K - 100K 12K - 16K 35K - 45K Sales Institutional - AVP 4 to 6 50K - 70K 8K - 12K 20K - 35K Sales Intermediaries Director K - 150K 16K - 20K 50K - 70K Sales Intermediaries VP 8 to 12 70K - 90K 10K - 14K 25K - 40K Sales Intermediaries AVP 4 to 6 40K - 60K 6K - 8K 20K - 30K Client Services - Director K - 100K 12K - 16K 35K - 45K Client Services - VP 8 to 12 55K - 80K 8K - 12K 30K - 35K Client Services - AVP 4 to 6 35K - 60K 6K - 8K 20K - 30K Marketing - Director K - 150K 16K - 20K 50K - 70K Marketing - VP 8 to 12 70K - 90K 10K - 14K 25K - 40K Marketing - AVP 4 to 6 40K - 60K 6K - 8K 20K - 30K Investor Relations Hedge Funds 5+ 50K+ 8K+ 30K+ Research - Director K+ 20K+ 70K+ Research - VP 8 to 12 80K - 100K 12K - 16K 40K - 60K Research - AVP 4 to 6 50K - 80K 8K - 12K 25K - 40K Portfolio Manager K+ 16K+ 60K+ Jr. Portfolio Manager 3 to 5 50K - 60K 8K+ 25K - 35K Product Development Director K - 130K 16K - 22K 50K - 65K Product Development VP 8 to 12 70K - 90K 10K -14K 25K - 40K Product Development AVP 4 to 6 40k - 60K 6K - 8K 20K - 30K ACCOUNTING Finance Director / CFO K - 150K 16K - 24K K Financial Controller K - 100K 10K - 16K 40-80K Finance Manager K - 70K 6K - 11K 30-60K Financial Planning / Analysis Manager K - 70K 6K - 11K 30-60K Accounting Manager 8+ 35K - 50K 6K - 8K 25-60K Financial Analyst 8+ 40K - 60K 6K - 10K 15-30K Financial Accountant 6+ 25K - 45K 4K - 7K 8-20K Head of Audit K - 200K+ 8K - 13K 90K+ Audit VP - Director 7 to 10 65K - 120K 10K - 16K 65K - 90K Audit Associate to AVP 3 to 7 35K - 65K 6K - 10K 30K - 60K Audit Analyst 1 to 3 20K - 35K 3K - 6K 15K - 20K 28 Links International Links International 29

16 04 Sales & Marketing, Retail and FMCG MARKET REVIEW AND TRENDS MACAU Macau continues to grow, despite the month on month decline in gambling revenues across the region. The opening of new casino and hotel properties, as well as new retailers in 2015 and will continue to drive the demand for front-line sales staff in an already tight labour market. Experienced store managers and retail area managers are in particular demand and their salaries continue to increase due to a relatively tight pool of candidates and current unemployment at 1.8%. There continues to be significant turnover of candidates with 42% of Macau respondents having only been in their current role for less than 12 months. The demand for local Macau residents is at an all-time high, with more focus being given to local talent than expat talent. The demand for skilled marketing professionals in all levels is expected to be high in across all industries. Macau employees are receiving relatively large percentage increases in salaries with nearly half of employees expecting year on year salary increases of 10-15%, as well as increases in bonuses. For more information, please contact Las Rodrigo, Head of Recruitment, at las.rodgrigo@linksinternational.com or call HONG KONG The demand will continue to slow down in for Hong Kong marketing & communications professionals across the luxury retail and fast moving consumer goods (FMCG) sectors in particular, whilst there remains a strong demand on the hospitality, telecommunications and professional services sectors. The hospitality and IT industries have been particularly active in the demand for business development candidates, as employers seek experienced sales and key account management professionals to support their business activities from Hong Kong headquarters. Consequently, sales candidates are being offered between 10-20% salary increases to move. Demand for Sales Directors, Business Development Managers/Directors and Account Managers/Directors was very strong in Q4 2015, as employers were building out their sales teams in order to ensure a strong start to. We are observing a growing trend of retailers welcoming candidates with backgrounds not directly related to retail. A number of brands hired candidates from other customer service focused industries, such as airlines and hospitality. Experienced store managers and retail area managers in particular remain in strong demand and are receiving relatively significant increases in salary. The significant shift towards online and e-commerce continues, with companies focusing their attention on Customer Experience and Consumer Loyalty Program/CRM policies. As a result, the demand for digital marketing and e-commerce professionals has remained strong in all industries, and digital marketing and e-commerce candidates can expect to be offered 10-20% salary increases to move. Candidates who not only offer a broad skill set, but who are commercially minded and results oriented can expect higher possibilities for career development. Candidates are not only motivated by competitive salary but also by company stability. For more information, please contact Tracy Leung, Senior Consultant, Sales & Marketing at tracy.leung@linksinternational.com or call SINGAPORE There has been an ongoing demand for Sales & Marketing professionals in Singapore and Southeast Asia across FMCG and Pharmaceutical sectors, and this will continue into. Retail & Luxury has had a challenging year with a slowing down of demand in the market in the first half of the year. Employers are actively looking for strong local candidates with frontline luxury and retail experience. With a tight candidate pool, organisations are looking to develop talent pipelines through management trainee programmes, as well as reviewing their compensation and benefits programmes to make them more competitive. Retail organisations have also been pushing into more neighbourhoods in Singapore, taking their brands back from distributors or expanding outside Singapore to stem the reduced demand in Singapore. Pharmaceutical and Life Sciences in Singapore is a major hub for Asia with the competition for commercial talent increasing and a strong focus on recruitment at the middle to senior management level with new players entering the market. FMCG remained buoyant in 2015, with a steady flow of recruitment. We expect this to continue into with organisations choosing Singapore as their SEA HQ. Demand for business development, branding and internal communications has remained strong. Malaysia is seeing an increase in companies opening or developing manufacturing that previously did not have a large Asia presence. Candidates with experience in e-commerce, digital marketing and business development, as well as product management in emerging markets are in particular demand across all industry sectors. The battle for talent continues with a particularly strong demand for passive jobseekers who have a stable background and have shown good career progression with regional experience in MNC. Candidates are still motivated by a competitive salary, but there is a growing emphasis on the employer s brand, career development opportunities and the leadership of the company with a change in attitude towards well-funded start-up organisations. The majority of Sales & Marketing candidates who changed jobs in the past 12 months received salary increments of 7-13%, which has remained consistent from last year. Candidates who didn t move received a 3-6% increase from their companies. Bonuses for Sales & Marketing professionals are largely driven by individual and company performance, with most employees bonuses up to 25%. Only 20% of employees received bonuses above 25%. For more information, please contact Martin Hill, Head of Recruitment at martin.hill@linksinternational.com or call CHINA While top and affordable luxury brands slow their expansion plans in China, travel spending and luxury e-commerce continue to grow. Therefore, luxury brands are paying more attention to the digital marketing strategy and are taking advantage of the world s digital power. However, most of these firms are facing quite big challenges on hiring the right digital talent. Sales of fast moving consumer goods (FMCG) have been slowing in China, with online retailers eroding market shares of bricks-and-mortar stores. The FMCG market rose 4.7% this year, down from the annual gains of 5.4% for 2014 and 7.4% for Meanwhile, sales through e-commerce jumped to 33.6%. Although it fell slightly from last year s 34%, China s online retail world is being shaped by digital consumers distinct preferences and habits. For example, shoppers are now tending to buy more premium, imported and larger packaged goods from online stores. Sales, marketing and retail positions most in demand included Area Managers, Store Managers, Marketing Directors, Marketing Managers, Brand Manager/Senior Brand Managers, CRM Managers, Digital Marketing Managers, National Sales Directors, Sales Managers and E-commerce Sales Director/Manager roles. In particular, demand for Digital Marketing, Client Relationship Management and E-commerce professionals continues to exceed supply of candidates across all industries, as online businesses in China continue to snowball. Whilst candidates value competitive salary packages, there is a growing emphasis on having strong and transparent career development opportunities within a company, as well as flexibility and a good work culture. In addition, candidates are becoming more cautious when making a decision to change employer, which is making it harder for employers to attract good candidates. Candidates with international exposure, good language skills, local market knowledge, high energy levels and who are well-disciplined will continue to receive multiple offers, as well as counter offers from their current employer. Frontline retail candidates actively headhunted in the past twelve months received salary increments of 20-25% to incentivise them to move. Merit increases for candidates who remained in their role were approximately 10-15%. Frontline retail positions were generally incentivised using base and commission remuneration splits of 60-70% base and 30-40% incentive. The majority of Sales & Marketing candidates who changed jobs in the past 12 months received salary increments of 10-20% to incentivise them to move. For more information, please contact Lily Xiong, Division Manager Consumer, at lily.xiong@linksinternational.com or call Links International Links International 31

17 Salary Index SALES & MARKETING, FMCG, RETAIL Position No. of years experience Hong Kong Salary (HKD) Singapore Salary (SGD) China Salary (RMB) Macau Salary (MOP) OPERATIONS General Manager K - 150K 15K - 20K 120K - 150K+ 130K - 150K+ Marketing Director K - 100K 10K - 15K 100K - 130K+ 80K - 100K Marketing Manager K - 50K 6.5K - 9K 30K - 50K 40K - 50K Marketing Executive K - 23K 3.5K - 4.5K 10K - 15K 20K - 25K CRM Manager 8+ 50K - 60K 6K - 10K 30K - 40K N/A Assistant CRM Manager K - 40K 3.5K - 5K 20K - 30K N/A Commercial Director K - 85K 9K - 12K 80K - 120K 65K - 85K Commercial Manager K - 60K 7K - 10K 40K - 80K 45K - 60K Business Development K - 65K 8K - 12K 70K - 100K 60K - 80K Director Business Development K - 45K 5.5K - 8K 40K - 60K 40K - 50K Manager Wholesale Director K - 70K 9.5K - 11K 60K - 80K 70K - 75K Wholesale Manager K - 50K 4.5K - 8K 30K - 60K 35K - 50K Brand Manager 8+ 40K - 60K 7K - 12K 20K - 27K 55K - 70K Assistant Brand Manager K - 35K 5.5K - 7.5K 15K - 20K 35K - 40K PR/ Communications Manager K - 45K 5K - 8K 25K - 35K 35K - 45K Merchandising Manager 8+ 55K+ 8K+ 30K - 50K+ 55K - 60K Senior Buyer K - 50K 4.5K - 8K 25K - 35K 45K - 55K Buyer K - 30K 3.5K - 4.5K 15K - 25K 35K - 40K Training Manager (Regional) 8+ 40K - 50K 6K - 10K 35K - 50K 40K - 50K Assistant Training Manager K - 35K 3.5K - 5K 20K - 30K 30K - 38K Design Manager K - 50K 7K - 8K 40K - 50K 40K - 50K Design Manager K - 35K 4K - 5.5K 20K - 30K N/A Demand Planning Manager K - 55K 7K - 8.5K 40K - 50K N/A Visual Merchandising Manager K - 60K 6K - 8K 35K - 50K 45K - 55K Visual Merchandiser K - 35K 4K - 5.5K 15K - 25K 30K - 35K Logistics Manager K - 40K N/A 25K - 35K 35K - 40K Assistant Logistics Manager K - 35K N/A 15K - 20K 30K - 35K Digital Marketing Manager K - 45K 6.5K - 8K 25K - 35K 45K - 55K E-Commerce Manager K - 50K 7K - 10K 25K - 40K 35K - 55K RETAIL - SALES OPERATIONS LEVEL POSITION NO. OF YEARS EXPERI- ENCE HONG KONG MONTHLY SALARY (HKD) SINGAPORE MONTHLY SALARY (SGD) CHINA MONTHLY SALARY (RMB) MACAU MONTHLY SALARY (MOP) Retail Operations Manager/Area Manager K - 60K 5K - 7K 40K - 55K 45K - 60K Store Manager K - 45K 4K - 5.5K 17K - 35K 35K - 45K Assistant Shop Manager/Supervisor K - 25K 2.5K - 4K 6K - 16K 20K - 28K Sales Assistant K - 18K 1.8K - 2.5K 4K - 6K 15K - 18K MASS MARKET BRANDS Retail Operations Manager/ Area Manager K - 50K 6K - 8K 35K - 50K 35K - 50K Store Manager K - 40K 4K - 5K 20K - 30K 25K - 35K Assistant Shop Manager/ Supervisor K - 25K 3K - 3.8K 8K - 18K 15K - 25K Sales Assistant 1-3 9K - 11K 1.2K - 1.5K 4K - 6K 9K - 11K Note: All salary ranges are represented in terms of basic salaries exclusive of bonuses, stock options or other variable incentives. Salaries will vary depending on industry and location. 32 Links International Links International 33

18 MARKET REVIEW AND TRENDS 05 Human Resources, Secretarial & Administration HONG KONG Although uncertain global economic issues continue to affect the employment market, in general, the employment market under Human Resources, Administrative and Secretarial functions still remains relatively stable. Organisations have become more conservative on recruitment spending and cost saving is always their primary evaluation criteria. To achieve this, we have seen many organisations building their own talent acquisition and campus teams. This results in a high demand for Recruitment Manager and HR Business Partner candidates. Turnover is one of the most challenging topics for all Human Resources professionals, and most employers in 2015 have focused heavily on staff retention. Experienced and high calibre professionals are in high demand. Many of the multi-national companies are focusing on creating an Employer Value Proposition, which includes a positive culture, rewarding career opportunities and competitive remuneration packages to retain those high performers. Human Resources professionals who specialise in Compensation and Benefits, Payroll, Learning and Development and Mobility are still in demand across all corporations. Candidates with regional or China exposure possessing English and Chinese (Mandarin) language skills are particularly valued, as companies are expanding to the PRC. Interview processes are generally taking longer, as employers not only seek talent with the right experience and skills, but also a cultural and motivational fit to support the company s long-term development. We anticipate that salaries will increase between 3% and 6%, where candidates from the banking and finance sectors are still receiving 15-20% higher salaries than similar roles within commercial companies. This increment rate seems to be consistent regardless of the different experience levels of the candidates. In terms of year-end bonus, the range is still around 1.5 to 2.5 months of base pay, depending on individual and company performance. Compensation benefits, performance based incentives and career development schemes are also key considerations for candidates when planning their next career move. For more information, please contact Nick Lambe, Managing Director at nick.lambe@linksinternational.com or call SINGAPORE Human Resources in Singapore is becoming more commercial focused and, with the focus on HR data, there will continue to be a high demand for HR related jobs in various sectors, as MNCs and large local firms continue to aggressively expand their presence across the region and Singapore is increasingly becoming an APAC Hub. There has been a positive demand for HR professionals focusing on compensation and benefits, learning development and talent management professionals with specific industry experience to manage long-term strategies. In, there will be an increased demand for in-house Talent Acquisition specialists, Talent Management professionals and HRIS managers with Compensation & Benefits knowledge, due to a shortage of good candidates in the market. HR business partners and managers with APAC or SEA experience, as well as experience in emerging markets with large MNCs will remain in demand. In, there will be more than 3.6 million baby boomers set to retire and more than one-fourth of millennial workers will become managers. Succession planning and next generation leadership development will start to be prioritised. Overall, there has been an increase in the number of HR roles at all levels across various industries. The demand in the EA & PA market has increased slightly across various industries, including pharmaceutical, IT, consumer goods and logistics. However, there has been a slight dip in demand for senior EA & PA positions in the market. There has been an increase in demand for temporary and contract administrative positions, due to expansion and restructuring of many MNCs. Similar to other regions, the interview process seems to be taking longer than expected, due to more decision-makers getting involved in the process, as well as organisations increasingly looking for candidates from competitors, or who understand their clients industry sector. Salaries for EAs & PAs generally remain the same, however, more companies are offering a higher salary for EAs & PAs required to handle a large amount of personal errands. There has been a significant increase in companies across various industries offering EA & PA flexible benefits in terms of flexible work hours, more annual leave, and work-life balance, especially for those with young children. There has also been a significant increase in companies providing bonuses, including performance-based bonuses. For more information, please contact Martin Hill, Head of Recruitment at martin.hill@linksinternational.com or call Links International Links International 35

19 Salary Index HRA Position No. of years experience Hong Kong Salary (HKD) Singapore Salary (SGD) China Mxonthly Salary (RMB) Macau Salary (Mop) OPERATIONS HR Director/Regional HR Director K - 120K+ 12K - 25K 60K - 120K 75K - 120K+ HR Manager/Regional HR Manager K - 80K 6K K 20K - 40K 45K 80K+ Senior HR Officer/Assistant HR Manager K - 35K 4K - 6K 12K - 25K 25K - 35K HR Executive K - 28K 3K - 4K 8K - 20K 20K 28K Regional Recruitment Officer/ Recruitment Officer K - 35K+ 4K - 8K 10K - 20K 25K 35K+ Recruitment Manager/ Regional Recruitment K - 70K+ 10K - 18K 20K - 50K+ 45K 70K+ Manager Regional Training Director K - 80K 10K - 18K 30K - 60K 60K 80K Training Manager 6+ 35K - 45K 6K - 10K 15K - 30K 35K 45K Training Officer 4+ 20K - 25K 3K - 5K 8K - 15K 20K 25K Regional Compensation & Benefits Manager/Director K - 120K+ 14K - 20K 40K - 80K 70K 120K+ Compensation & Benefits Manager 5+ 40K - 60K 7K - 13K 20K - 40K 40K 60K Regional Organisation Development Director K - 130K 15K - 18K 40K - 90K N/A Organisation Development Director K - 100K 11K - 15K 35K - 90K N/A Regional Organisation Development Manager K - 70K 8K - 12K 18K - 30K N/A Organisation Development Manager K - 50K 7K - 9K 20K - 40K N/A Payroll Manager K - 50K 6K K 12K - 25K 35K 50K Payroll Specialist K - 28K 3K - 5K 6K - 10K 18K 28K Visa/Immigration Manager K - 40K N/A N/A N/A Visa/Immigration Specialist K - 25K N/A 9K - 18K N/A Global Mobility Manager K - 38K 8K - 10K 20K - 40K N/A Global Mobility Specialist K - 28K 3.5K - 5K 8K - 15K N/A Customer Service/Call Centre Manager 8+ 35K - 55K N/A 20K - 40K N/A Knowledge and Information Manager K - 65K N/A N/A N/A Legal Support Manager K - 60K N/A 18K - 40K N/A Senior Legal Secretary K - 50K 5K - 6K N/A N/A Legal Secretary K - 39K 3K - 5K N/A N/A Senior Paralegal K - 60K N/A N/A N/A Paralegal K - 28K N/A N/A N/A Company Secretary K - 60K N/A 8K - 30K N/A Office/Administration Manager K - 60K 5.5K - 8K 15K - 30K N/A Facilities Officer/Facilities Manager K - 60K+ N/A 15K - 40K N/A Senior Administration Officer K - 35K+ N/A 7K - 15K N/A Executive Assistant/ Personal Assistant to Management K - 60K+ 5K - 7K 15K - 30K N/A Secretary/Team Secretary K - 40K 3K - 5K 10K - 30K N/A Receptionist K - 28K 1.5K - 2.5K 4.5K - 8K N/A Note: All salary ranges are represented in terms of basic salaries exclusive of bonuses, stock options or other variable incentives. Salaries will vary depending on industry and location. 36 Links International Links International 37

20 MARKET REVIEW AND TRENDS There is increasing demand for Temporary and Contract workers in the region. However, the acceptance of candidates taking contract roles has reduced, with the exception being if an attractive compensation package can be offered. Remuneration has always been a key factor for contract candidates deciding on their next job move. Over the past year, however, salary is taking a less important role, and candidates are now much more interested in the company s culture, training platform and management style when selecting their next employer. To achieve cost saving, we are seeing a growing trend of employers converting their contract candidates into permanent employees. Traditionally, the need for temporary and contract candidates was mainly due to headcount constraints or a desire for flexibility. However, the market is changing, and companies often prefer to start an employment relationship as temporary due to the fact that they would like to make sure a candidate s performance is up to company standard prior to converting these candidates into permanent employees. Historically, companies would only appoint temporary and contract employees for supporting positions. Recently, however, we have found that a lot of corporate organisations have started appointing senior management or professional candidates under temporary and contract positions. These roles include compliance and legal roles. Fresh graduates also utilise temporary and contract positions as an opportunity to step into the commercial job market where they may lack work experience. With the current uncertain economy, we foresee an increasing demand for temporary and contract staffing across all functional areas, particularly in the fields of human resources, administration, accounting, marketing and back and middle office banking operations, as well as retail positions. We also found that the number of staff being converted from temporary to permanent contracts has increased significantly in Q4. In view of the salary/compensation adjustment, most employers are keen to offer better benefits instead of salary increases. Salaries for temporary and contract employees have slightly increased, especially for those with low benefit assignments. For more information, please contact Aily Foo, Consultant T&C, at aily.foo@linksinternational.com or call Temporary & Contract Division 38 Links International Links International 39

21 07 Industrial Sector - China MARKET REVIEW AND TRENDS In general, the industrial sector has been stable throughout The Purchasing Managers Index (PMI) was over 50% from March to July, but has generally remained around 50% on average. It has been in a downtrend since August, however, with the index below 50%, subsequently leading to pressure for growth in early. Based on the Made in China 2025 strategy set by the Chinese central government in mid-2015, the manufacturing industry is expected to shift by encouraging sub sectors such as high-end numerical control machines, robots, new energy vehicles and energy-saving or environment protection sectors. The heavy industry, such as steel and cement, will continue to downturn, due to over production in the previous years and weak growth of the macro economy in China. The automotive industry has continued to grow steadily, although the growth rate is significantly lower than between 2009 to The off-road equipment industry, meanwhile, will continue to suffer from the low inventory and weak demand in the market. Demand for sales and marketing talent continues to be strong as employers fight for market share by seeking to hire candidates with a proven track record of contract and revenue generation. Supporting functions such as HR, finance and IT remain in demand within the industry, yet due to the slowdown of the macro economy, these functions are not as active as they were in 2013 and Facing the pressure from rising labour costs, employers are continuously seeking to improve operational efficiency. Experienced talent in plant management will still be in high demand. In specific areas, candidates with solid product design and application experience will continue to be in high demand as companies seek to leverage R&D functions to remain competitive. For more information, please contact Eric He, Division Manager Industrial, at eric.he@linksinternational.com or call Position OPERATIONS No. of years experience China Salary (RMB) General Manager K - 150K Operations Director K - 90K+ Lean Director 8+ 30K - 80K Lean Manager 5+ 15K - 35K EHS Director K - 60K EHS Manager 5+ 18K - 35K Marketing Director K - 80K Marketing Manager 5+ 15K - 35K Sales Director K - 100K+ Sales Manager 5+ 12K - 50K Product Manager 8+ 15K - 40K Program Director K - 70K Program Manager 6+ 20K - 45K+ Purchasing Director K - 80K Supply Chain Director K - 80K Sourcing Manager 5+ 15K - 40K Logistics Manager 6+ 15K - 40K Quality Director K - 80K Quality Manager 6+ 15K - 40K R&D Director K - 100K+ R&D Manager 8+ 20K - 50K Engineering Director K - 80K Engineering Manager 5+ 18K - 35K+ PLANT ROLES Plant Manager K - 90K Operations Manager 8+ 20K - 50K Production Manager 6+ 15K - 30K+ Lean Manager 5+ 10K - 25K EHS Manager 5+ 8K - 25K Program Manager 6+ 10K - 25K Purchasing Manager 5+ 10K - 25K Quality Manager 6+ 15K - 30K Note: All salary ranges are represented in terms of basic salaries exclusive of bonuses, stock options or other variable incentives. Salaries will vary depending on industry and location. 40 Links International Links International 41

22 CONTACT US Website: HONG KONG OFFICE Main Line: Address: 20/F Wyndham Place Wyndham Street Central, Hong Kong CHINA OFFICES Main Line: Website: Shanghai: Room 304 Platinum Building 233 Taicang Road Haungpu District, Shanghai Beijing: PRC Room 403, Building 1 No. 15 Guanghua Road Chaoyang District Beijing , PRC SINGAPORE OFFICE Main Line: (Payroll, Visa & Business Set-up Services) (Recruitment Services) EA License: 09C5322 Address: 17 Hong Kong Street #03-01 Singapore MACAU OFFICE Main Line: Address: Avenida de Comercial de Macau EDF, FIT Unit 8G, Macau ZHUHAI OFFICE Main Line: Address: Room 902 Yin Du Hotel No Yuehai East Road Gongbei, Zhuhai Links International Links International 43

23 44 Links International