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

Transcription

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

28 ACCOUNTANCY & FINANCE Commerce & Industry Senior Finance SENIOR COMPLIANCE MANAGER SME MID MNC China N/A Japan N/A N/A N/A Singapore Malaysia N/A N/A COMPLIANCE MANAGER SME MID MNC China N/A Hong Kong Japan N/A N/A N/A Singapore Malaysia N/A COMPLIANCE SPECIALIST SME MID MNC Japan N/A N/A N/A Singapore PROJECT CONTROLLER SME MID MNC China ,300 Japan Singapore PROJECT FINANCE MANAGER SME MID MNC China N/A Japan Singapore Malaysia SHARED SERVICE CENTRE Team Lead Assistant Head of Shared Service Centre China ,300 Hong Kong N/A N/A N/A N/A Japan N/A N/A N/A 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

29 ACCOUNTANCY & FINANCE Commerce & Industry Accounting Support GRADUATES Assistant Accountant Graduate Accountant China Japan Singapore Malaysia SUPPORT Accounts Receivable Accounts Payable Credit Control Bookkeepers China Hong Kong Japan 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 Job titles in global organizations vary greatly from European/American/North American companies Banking Industry FINANCIAL SERVICES Finance Director/CFO Financial Controller Senior Finance China 1,200-2, , ,000 Hong Kong 1,600-3,000 1,200-2, ,200 Japan Singapore Malaysia Finance Assistant Finance Tax Director/ Head of Tax China ,200-1,600 Hong Kong ,400-2,200 Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Investment banking salaries are at the higher end of ranges stated; consumer banking at the lower 2015 Hays Salary Guide - Asia 29

30 ACCOUNTANCY & FINANCE Banking Industry FINANCIAL SERVICES Tax Tax Accountant Head Internal Audit Senior Audit China ,000-1, ,000 Hong Kong 650-1, ,700-2, ,200 Japan Singapore Malaysia Audit Assistant Audit Dept Head Product Control Senior Product Controller China ,200-1, ,200 Hong Kong ,500-2, ,500 Japan Singapore Malaysia Product Controller Senior Treasury Treasury Treasury Accountant China , Hong Kong ,100-1, , Japan Singapore Malaysia Head of Compliance/Risk Senior Compliance/ Risk Compliance/ Risk China 1,000-1, Hong Kong 1,200-2, , Japan Singapore Malaysia Compliance/ Risk Specialist Accounts Receivable Accounts Payable Credit Control 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 are representative of the total package value Investment banking salaries are at the higher end of ranges stated; consumer banking at the lower Hays Salary Guide - Asia

31 ACCOUNTANCY & FINANCE Professional Practice AUDIT Consultant Senior Associate/ Assistant Hong Kong Japan Singapore Malaysia Senior Director/Partner Hong Kong ,100 1,200 + Japan Singapore Malaysia ADVISORY PRACTICES Consultant Senior Associate/ Assistant Hong Kong Japan Singapore Malaysia Senior Director/Partner Hong Kong ,200 1,200 + Japan Singapore Malaysia TAX Tax Consultant Senior Tax Consultant Hong Kong Japan Singapore Malaysia Tax Senior Tax Tax Director Hong Kong ,200 1,200 + Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 31

32 BANKING & FINANCIAL SERVICES SALARY INFORMATION: BANKING & FINANCIAL SERVICES CHINA China s banking market grew modestly over the past 12 months and salaries continue to trend upward. Over the year there were several peaks of staffing demand and hiring activity. The first was in retail banking. While consumers were more cautious in their spending pattern and the housing market slowed in most major cities in China, activity increased in the shadow banking market as retail investors switched to alternative investment channels. Within corporate banking, banks diversified their resources from the once booming property development sector and associated heavy industry. This created additional job opportunities for bankers with a diverse client portfolio. Chinese regulators also encouraged banks to diversify from an interest income dependent model to a model that balances interest and non-interest income. This created more job opportunities in the investment banking market. WE SAW BANKS CONTINUE TO CENTRALIZE THEIR BACK OFFICE FUNCTION IN ORDER TO IMPROVE MANAGEMENT AND SAVE COSTS In other positive trends, confidence levels remain high in the corporate client market and there are more success stories of Chinese corporate listings in overseas stock exchange centers. We also saw banks continue to centralize their back office function in order to improve management and save costs. This created more job opportunities, especially in the Tier 2 cities where labor costs are lower. Following the APEC Summit in November 2014, Chinese leaders pledged to curb corruption. As a result, we expect to see high levels of demand for compliance, AML and KYC professionals in the coming years. In addition, at both the 2014 APEC and G20 Leaders Summits the importance of the world s excessive carbon emission problem was emphasized. Consequently Hays Salary Guide - Asia we expect to see demand increase for Bankers as well as private equity and venture capitalist investors who specialize in renewable and green energy. Salaries are generally trending upward, although in the year ahead the percentage increase is expected to be more modest than in previous years. HONG KONG Corporate, retail and private banking continue to dominate Hong Kong s recruitment market. As such, demand remains high for Relationship s, and in turn for risk and compliance professionals. While corporate and commercial banking, as well as transaction banking, are busy areas, the shortage of highly-skilled professionals at all levels remains a key challenge for employers. Demand is highest for candidates with both trade finance and cash management product knowledge, fluent Mandarin language skills and a specialization in China corporate. Within private banking we saw a continued increase in activity over the past year. In fact, the demand for experienced Private Bankers is so high that it now exceeds supply. As noted, in the retail banking sector the demand for experienced Relationship s remained strong. However employers faced not only attraction but retention issues. This put upwards pressure on salary packages as Relationship s looked for the best offer. Compliance remains a consistently busy area for recruitment, especially within AML/Sanctions. A new wave of fines and sanctions led to more newly created jobs in these areas. Meanwhile private banking compliance professionals remain in high demand but short supply, especially those with fluent Mandarin language skills. Market risk vacancy activity was relatively stable in Increased trade with China has led to demand for Corporate Credit Risk professionals who speak Mandarin. Growth within operational risk continued, with interesting opportunities available for professionals at all levels. Looking ahead, while candidate demand will continue to exceed supply, salaries will remain fairly stable since companies still have strict budget constraints. Despite this, employers still expect a high quality hire and therefore the recruitment process can be lengthy as they search for a suitable candidate who matches all their criteria at the price point they can pay. JAPAN Demand for talent continues to outstrip supply in Japan s active financial services market. In most demand are bilingual Japanese/English speakers, with the majority of vacancy activity concentrated at the Analyst and Associate levels. Over the past year we ve seen US banks recruit in higher volumes than the year prior. This vacancy activity has been mostly at the Analyst and Associate levels. There were a few instances of sign-on bonuses, but these were very rare. We also saw hiring extend through the end-of-year period, which is traditionally quiet and is thus a strong indicator of the active year that 2014 was. At the senior level vacancy activity also increased. This was the result of replacing departing staff as well as upgrades. When firms recruit at this level, they offer larger salary increases as well as guarantees or sign-on bonuses to select candidates. This trend will continue in 2015 as employers look to secure highly-skilled professionals. Competition for experienced talent will remain at an all time high. Given that candidate demand now outstrips supply, employers are willing to relocate candidates from foreign countries, provided they have native level proficiency in Japanese. However they will not compete for candidates based on salary. Unless a candidate moves from a higher tier firm into a lower tier firm, they are unlikely to receive a large salary increase. Candidates do however receive multiple offers, as well as strong counter offers as firms attempt to retain key people. In 2014 this had some upward impact on salaries. Looking ahead, most employees expect to receive at least a similar total compensation package when they change jobs.

33 BANKING & FINANCIAL SERVICES SINGAPORE Like most large financial services hubs, the focus of Singapore s jobs market is risk, compliance and controls. Consequently the key salary increases have been for controls focused professionals. Candidates who are heavily involved in credit risk, market risk, operational risk, KYC and AML, as well as those in specialist areas such as Dodd Frank, FATCA, EMIR and MAS regulatory requirements, saw their salaries increase due to the high demand for their skills. Salaries for these professionals are now marginally higher than their non-controls counterparts. Singapore s private banking sector also continues to experience growth. The extremely strong demand for private banking Relationship s has resulted in a large salary increase. Given Singapore s small pool of private banking talent, employers had to consider Relationship s in other areas, and thus salaries for non-private banking Relationship s, such as those in corporate banking, also increased. AN EXTREMELY STRONG DEMAND FOR PRIVATE BANKING RELATIONSHIP MANAGERS HAS RESULTED IN A LARGE SALARY INCREASE Another interesting salary trend was seen in trade finance. Given the strength of Singapore s trade finance market, candidates usually receive a 10 to 15 per cent increase in their base salary when changing jobs. This trend is evident in both the trade finance front office as well as for supporting functions. For all other financial services roles salaries remain fairly stable, with only minimal increases for select highlyskilled professionals. MALAYSIA Malaysia s banking industry saw exponential growth in 2014, both in terms of migrated functions as well as diversification of products. This mostly impacted risk, treasury and global market functions. Within risk, Basel III preparations and the establishment of a more cohesive control in the current risk set up created high demand for dynamic Risk Analytics, MIS Credit Risk and Quantitative Risk professionals. However such professionals are in short supply. Another trend was the recognition of derivatives as a risk mitigation technique that also economises on capital adequacy requirements. As a result, most banks are expanding their derivatives products, specifically over-the-counter products, and structures. We also saw vacancy activity increase for global market roles, as these functions were migrated from other countries such as Singapore and Hong Kong. This trend has created job opportunities for local skilled professionals. Transaction management functions have also increased as a result of new changes and migrations. Another trend is the focus on growing Islamic banking arms as well as catering to more Islamic products. The Islamic financial system, comprising the Islamic banking industry, the Islamic money and capital markets, and the Takaful market, is becoming an increasingly important component in Malaysia s financial system and in the global arena. This is also supported by the Government, which is encouraging the development of the Investment Account Platform (IAP), a new Shariah-compliant investment product in Corporate, retail and private banking continue to dominate Hong Kong s recruitment market 2015 Hays Salary Guide - Asia 33 SALARY INFORMATION: BANKING & FINANCIAL SERVICES

34 BANKING & FINANCIAL SERVICES Front Office CORPORATE FINANCE, M&A, ECM/DCM Analyst Associate Vice President Director Managing Director China ,200 1,200-2,000 1,800 + Hong Kong ,600 1,600-2,000 2,000 + Japan Singapore Malaysia ASSET MANAGEMENT Sales Senior Sales Head of Sales Junior Trader Trader China Hong Kong ,200 1,200-1, ,500 1,500 + Japan Singapore Malaysia Research Analyst Snr Research Analyst Head of Research Assistant Fund Fund Chief Fund China ,000 1,000 + Hong Kong , ,020 1,020-1,400 1,400-2,100 Japan Singapore Malaysia PRIVATE EQUITY Analyst Associate Vice President Director Managing Director China ,500 1,500-2,500 1,800 + Hong Kong 600-1, ,020-1,400 1,400-2,200 2,200 + Japan Singapore Malaysia HEDGE FUND - INVESTMENT Analyst Associate VP Assistant Fund Fund China ,000 + Hong Kong ,000 1,000-1,350 1,200-1,500 1,500-3,000 Japan Singapore Malaysia Salaries are annual and represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses Hays Salary Guide - Asia

35 BANKING & FINANCIAL SERVICES Front Office HEDGE FUND - EXECUTION Risk Analyst Risk Quantitative Analyst Snr Quantitative Analyst Trader Senior Trader China ,200 1, , ,000 + Hong Kong , , Japan Singapore Malaysia GLOBAL MARKETS Junior Trader Trader Senior Trader Desk Head Quantitative Analyst Quantitative VP China ,500 1, Hong Kong ,200 1,200-2,500 2, Japan Singapore Malaysia Quantitative Director Quantitative MD Associate Structuring VP Structuring Director Structuring MD Structuring China 800-1,500 1, ,500 + Hong Kong 1,200 + N/A ,000 1,400-1,600 1,800 + Japan Singapore Malaysia FINANCIAL MARKETS SALES, INSTITUTIONAL, CORPORATE, RESEARCH, HEDGE FUNDS Associate Vice President Director Managing Director China ,200 1,200-2,000 2,000 + Hong Kong 660-1,000 1,000-1,600 1,600-2,000 2,000 + Japan Singapore Malaysia RESEARCH/STRATEGY (FICC & EQUITY) Analyst Associate Vice President Director Managing Director China ,200 1,200 + Hong Kong ,500 1,500-2,100 2,100 + Japan Singapore Malaysia Salaries are annual and represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses 2015 Hays Salary Guide - Asia 35

36 BANKING & FINANCIAL SERVICES Front Office CORPORATE BANKING Assistant Relationship Relationship Senior Relationship Team Head Department Head China ,500 Hong Kong ,300 1,300 + Japan Singapore Malaysia COMMERCIAL BANKING Assistant Relationship Relationship Senior Relationship Team Head Department Head China ,200 Hong Kong ,000 1,000 + Japan Singapore Malaysia SME BANKING Assistant Relationship Relationship Senior Relationship Team Head Department Head China ,000 Hong Kong Japan Singapore Malaysia FINANCIAL INSTITUTIONS BANKING Assistant Relationship Relationship Senior Relationship Team Head Department Head China ,200 1,200 + Hong Kong ,300 1,300 + Japan Singapore Malaysia TRANSACTION BANKING (CASH MANAGEMENT, TRADE FINANCE, PROJECT & EXPORT FINANCE) Assistant Relationship Relationship Senior Relationship Team Head Department Head China ,000 1,000 + Hong Kong ,300 1,300 + Japan Singapore Malaysia Salaries are annual and represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses Hays Salary Guide - Asia

37 BANKING & FINANCIAL SERVICES Front Office FINANCIAL PLANNING & WEALTH MANAGEMENT Wealth Senior Wealth Premier Banking Relationship Private Banking Client Services Officer China Hong Kong Japan Singapore Malaysia Private Banking Relationship Senior Private Banking Relationship Sales Sales Director China Hong Kong 500-1,000 1,200-3, ,200 1,200 + Japan Singapore Malaysia Middle Office CREDIT RISK Analyst Associate AVP Vice President Director China ,080 1,080 + Hong Kong N/A ,200 1,200 + Japan Singapore Malaysia MARKET RISK Analyst Associate AVP Vice President Director China Hong Kong ,080 + Japan Singapore Malaysia OPERATIONAL RISK Analyst Associate AVP Vice President Director China ,080 1,080 + Hong Kong ,010 1,010 + Japan Singapore Malaysia Salaries are annual and represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses 2015 Hays Salary Guide - Asia 37

38 BANKING & FINANCIAL SERVICES Middle Office COMPLIANCE Analyst Associate AVP Vice President Director China ,080 1,080 + Hong Kong ,010 1,010 + Japan Singapore Malaysia TRADE SUPPORT Analyst Associate AVP Vice President Director China Hong Kong N/A N/A N/A N/A N/A Japan Singapore Malaysia COLLATERAL MANAGEMENT/ CLIENT VALUATIONS Analyst Associate AVP Vice President Director China Hong Kong N/A N/A N/A N/A N/A Japan Singapore Malaysia CHANGE MANAGEMENT/ PROJECT MANAGEMENT Business Analyst Project China Hong Kong N/A N/A N/A Japan Singapore Malaysia Head of Project Management ASSET MANAGEMENT Product Senior Product Client Service/ Reporting Specialist Client Service/ Reporting China N/A N/A N/A Hong Kong Japan Head of Client Service/ Reporting Singapore Malaysia Salaries are annual and represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses Hays Salary Guide - Asia

39 BANKING & FINANCIAL SERVICES Middle Office PERFORMANCE MEASUREMENT/ INVESTMENT RISK Associate/AVP Vice President Head China Hong Kong N/A N/A N/A Japan Singapore Malaysia TRANSACTION BANKING CLIENT SERVICE Officer Associate AVP Vice President Director China ,080 1,080 + Hong Kong Japan Singapore Malaysia TRANSACTION BANKING IMPLEMENTATION Officer Associate AVP Vice President Director China ,080 1,080 + Hong Kong ,050 Japan Singapore Malaysia INVESTMENT CONSULTANT Analyst Associate China Hong Kong ,200 Japan N/A N/A N/A Singapore Malaysia PRODUCT MANAGEMENT Analyst Associate Senior Associate/ China Hong Kong N/A N/A N/A Japan Singapore Malaysia Salaries are annual and represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses 2015 Hays Salary Guide - Asia 39

40 BANKING & FINANCIAL SERVICES Back Office CORPORATE A CTIONS/SETTLEMENTS Analyst A ssociate AVP VP Director China Hong Kong N/A N/A N/A 750-1,100 Japan Singapore Malaysia DOCUMENTATION/KNOW YOUR CLIENT/ CLIENT O NBOARDING Analyst A ssociate AVP VP Director China Hong Kong ,200 1,200 + Japan Singapore Malaysia BANKING OPERATIONS (TREASURY OPS, MM, FX) Officer A ssociate AVP VP Director China Hong Kong N/A N/A N/A N/A N/A Japan Singapore Malaysia TRANSACTION BANKING OPERATIONS Officer A ssociate AVP VP Director China Hong Kong Japan Singapore Malaysia LOAN ADMINISTRATION/CREDIT OPERATION Officer A ssociate AVP VP Director China Hong Kong N/A N/A N/A N/A N/A Japan Singapore Malaysia FUND OPERATIONS Administrator Senior Administrator Business Development General China ,000 1,000 + Hong Kong ,100 1,000-1,400 Japan Singapore Malaysia Salaries are annual and represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses Hays Salary Guide - Asia

41 BANKING & FINANCIAL SERVICES Retail BRANCH MANAGEMENT Sub Branch Branch Regional/ District China , Hong Kong Japan N/A Singapore N/A Malaysia OPERATIONAL BRANCH STAFF Teller Supervisor Operations China Hong Kong Japan Singapore Malaysia N/A N/A N/A RELATIONSHIP MANAGEMENT Assistant Relationship Relationship Senior Relationship Sales China Hong Kong Japan Singapore Malaysia MORTGAGE SPECIALIST Specialist Senior Specialist Team Head Region Head China Hong Kong Japan Singapore Malaysia INSURANCE AND INVESTMENT SPECIALIST Specialist Senior Specialist Team Head Region Head China Hong Kong ,000 + Japan Singapore Malaysia Salaries are annual and represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses 2015 Hays Salary Guide - Asia 41

42 INSURANCE SALARY INFORMATION: INSURANCE CHINA Faced with slower economic growth and wider and more complex regulation, China s insurance market is currently rebuilding itself. Unsurprisingly then, one of the biggest trends over the past year has been the upsurge in the number of M&A activities and transactions. This led to high demand for skilled candidates with solid experience in Strategy, M&A, PMO and Investment. Consequently salaries for these professionals increased. In the sales and distribution field, particularly the traditional channels of agency, bancassurance and corporate sales, insurers are not automatically increasing salaries in line with normal incremental or inflationary raises. Instead, they are recruiting local candidates with reduced salary expectations, or limiting expatriate talent to short contracts. This trend is expected to continue, and thus salaries for senior roles will remain at current levels over the year ahead. In the middle office, Tier 1 cities such as Beijing and Shanghai are attracting more talented candidates from financial institutions and banks, and salaries are expected to increase by between 15 and 20 per cent. Salary increases will be most notable in financial risk management and regulatory compliance since good talent in this area remains in high demand and short supply. Turning to the back office, salaries in life insurance companies are expected to remain steady this year. However, we are also seeing high demand for experienced Underwriters and Insurance Brokers with sharp business sense and a proven track record. Such candidates will impress hiring managers if they can demonstrate their talent to drive business. Another trend that will impact salaries this year is the increasing number of local and international companies that are setting up operations in the Shanghai Pilot Free Trade Zone. We expect to see a higher number of hires in this zone in Shanghai. Furthermore, using Shanghai as a benchmark, Free Trade Zones will be launched in other cities in coming years. As a result, more companies will establish operations in these zones and demand will increase for experienced general insurance Hays Salary Guide - Asia and reinsurance professionals. This will lead to salary increases as organizations seek to attract and secure the top talent. HONG KONG Hong Kong s insurance industry continued to grow in With major European economies remaining in recovery mode, Asian markets instead attracted greater investment. While this is positive news for the local market, a huge challenge for employers remains in the form of Hong Kong s shortage of highly-skilled professionals. As a result of this skills shortage, overseas candidates are relocating to Hong Kong to join the insurance workforce in specific functions, especially in the actuarial, accounting and finance areas. In other trends, significant regulatory updates around investment products and sales processes led to increased demand for compliance professionals. In this niche space there is a shortage of talent and thus organizations are offering above market rates for suitable candidates. Another trend of note is the growth of the High Net Worth business line. Key insurers forecast business potential in this sector, and it is seen as a solution to current challenges in the investment linked business resulting from the implementation of new regulations. As a relatively immature business line, there is a shortage of strong talent in this field, and premium salaries are being offered to the top candidates. DESPITE OVERALL GROWTH AND TALENT SHORTAGES, BASE SALARIES ARE ONLY EXPECTED TO INCREASE SLIGHTLY FOR MOST PROFESSIONALS In 2015 we will see further expansion in South East Asia s key emerging markets. With Hong Kong a major regional hub for leading insurance companies, we will see continuous demand for candidates with solid regional experience and a wide scope of insurance knowledge. Despite overall growth and talent shortages, base salaries are only expected to increase slightly in line with inflation for most professionals. The exception will be the industry s high performers, who will receive significant financial rewards in the form of a performance bonus. JAPAN The key trend in Japan s insurance industry in 2014 was the polarization of salaries. Mergers and restructuring saw a number of firms, particularly foreign companies, increase salaries for highperforming employees who they wanted to retain. At the same time, employees whose productivity failed to match their salaries were made redundant. Mergers and acquisitions also led to high demand for project management, operations, and strategic/corporate planning professionals. As a result, these candidates received a slight increase in salary. Another trend of interest was the high demand for talent in both the alternative distribution and direct marketing sales channel. Companies that previously relied on insurance agents as their main sales channel changed their focus to direct marketing or mass marketing sales. As this trend continues we expect salaries to increase for highly experienced specialists in these areas. Overall salary growth remains stable, which continues the trend of recent years. We expect this to remain the case in 2015, for all bar actuaries, product development and underwriting candidates. Given the high demand and short supply of these specialists, they will be able to continue to command higher salaries than their insurance colleagues in other functions. Overall salary growth in Japan remains stable, which continues the trend of recent years

43 INSURANCE SINGAPORE Singapore s insurance industry grew steadily in 2014 and we expect this to remain the case in Consequently, salaries will rise across most segments. One of the biggest trends in 2014 was the continued growth of Singapore as a regional hub. This led to increased demand for specialist and sophisticated underwriting and claims professionals in energy, construction, aviation, credit and surety. Competition will remain high for these professionals in 2015 as global and local insurers, Lloyd s syndicates, reinsurers, and brokers all develop their business in the region from Singapore. As a result, these candidates can expect a notable salary increase in A MAJOR TREND IN 2015 WILL BE THE CONTINUED RESTRUCTURING OF THE SALES AND DISTRIBUTION LANDSCAPE IN SINGAPORE A major trend in 2015 will be the continued restructuring of the sales and distribution landscape in Singapore. Initiatives from the Monetary Authority of Singapore s Financial Advisory Industry Review (FAIR) will impact the business operations of existing sales and distribution professionals, especially in the mass market segment. This, however, presents opportunities for professionals in both agencies and bancassurance teams with strong qualifications and experience who can conduct sophisticated and high value financial planning. Such professionals can expect their salaries to rise in response to the shortage of suitably skilled local talent. expertise as well as multi-channel, including digital, distribution. In terms of staffing demand, risk and finance strategy planning professionals are needed across the industry. In the risk segment, the entry of foreign players means there are strong intentions to advance risk management to a global standard. This will impact finance teams as the current market outlook requires them to impose a financially-aware mindset in non-financial business units within the institution. Demand for top-level finance strategy professionals as well as Finance Reporting s has significantly increased compared to previous years. The market is also expecting growth in the motor segment, resulting from the lifting of the motor insurance tariff in The government will allow general insurers to vary premiums based on the risk profile of individual vehicle owners. This will be supported by a strong increase in the hiring of Underwriters. In other trends, life insurance saw a hike in demand for agency distribution professionals at the senior level, while in general insurance more Business Development s were recruited. On the Takaful side, the Islamic Financial Service Act requirement for composite Takaful Operators (TOs) to legally separate their general and family businesses by 2018 is expected to drive consolidation in this market. This will be most evident among smaller TOs with insufficient scale to justify the additional investment in separate licenses, especially in respect to their general Takaful business. MALAYSIA Malaysia s insurance industry witnessed dynamic changes in 2014, resulting from a number of mergers and takeovers of local insurance institutions by global insurers. Moving forward, it is expected that this will result in greater sophistication for the domestic industry through product innovation, pricing and risk-management 2015 Hays Salary Guide - Asia 43 SALARY INFORMATION: INSURANCE

44 INSURANCE ACTUARIAL Chief Actuary Department Head Senior Associate China 900-2, , Hong Kong 900-2,600* 960-1, Japan Singapore Malaysia DISTRIBUTION Chief Distribution Officer Chief Agency Officer Head of Bancassurance Head of Alternate Distribution Head of Sales Development China 1,500-2,800 1,000-1, ,500 1,000-1, ,400 Hong Kong 1,500-2,500* 1,200-1,800 1,200-2,000 1,100-1,600 1,100-1,700 Japan Singapore Malaysia AGENCY Agency Director Senior Assistant Agency Officer China 600-1, Hong Kong 840-1, Japan Singapore Malaysia BANCASSURANCE Department Head Senior Assistant Bancassurance Officer China 700-1, Hong Kong 900-1, Japan Singapore Malaysia ALTERNATE DISTRIBUTION Channel Director Senior Assistant China 800-1, Hong Kong 840-1, Japan Singapore Malaysia FINANCE Chief Financial Officer Finance Director Financial Controller Senior Finance Finance China 1,000-2, , , Hong Kong 1,000-3,000* 1,100-1, , Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value * Salaries for these job titles vary greatly due to the nature of the role and whether the remit is local or regional Hays Salary Guide - Asia

45 INSURANCE AUDIT Chief Auditor Audit Director Senior Internal Audit Internal Audit China 800-2, , Hong Kong 900-2,500* 800-1,600* Japan Singapore Malaysia COMPLIANCE/ORM Chief Risk China 900-2,000 Hong Kong 1,500-2,600* Japan Singapore Malaysia UNDERWRITING LIFE Chief Underwriter Director Senior Assistant China Hong Kong 1,000-1,600* 900-1, Japan Singapore Malaysia UNDERWRITING GENERAL Chief Underwriter Head of Business Line Senior Assistant China 800-1, Hong Kong 1,000-1,600* 900-1, Japan Singapore Malaysia CLAIMS LIFE Head of Claims Senior Assistant China Hong Kong 800-1,200* Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value * Salaries for these job titles vary greatly due to the nature of the role and whether the remit is local or regional 2015 Hays Salary Guide - Asia 45

46 INSURANCE CLAIMS GENERAL Head of Claims Head of Business Line Senior Assistant China 600-1, Hong Kong 750-1,200* Japan Singapore Malaysia PROJECTS Program Head Senior Project/ Program Project Assistant Business Analyst China 900-2, , Hong Kong 950-2,500* 700-1, Japan Singapore Malaysia STRATEGIC Program Head Program Project Assistant Business Analyst China 1,000-2, , Hong Kong 1,200-2,800* 720-1, Japan Singapore Malaysia OPERATIONS COO Senior Assistant China 1,000-2, Hong Kong 900-2,500* Japan Singapore Malaysia MARKETING Head of Products Senior Product Development Product Assistant China 700-1, Hong Kong 900-1,400* Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value * Salaries for these job titles vary greatly due to the nature of the role and whether the remit is local or regional Hays Salary Guide - Asia

47 FINANCE TECHNOLOGY CHINA The candidate market in China is buoyant and this year the war for talent will intensify further in key areas. We expect to see greater focus placed on salaries and benefits to help employers attract new hires and retain their existing talent pool. Since 2013 China has been a primary market for offshore Centre of Excellence establishments. Big brands and international investment banks have set up technology centres in China and have recruited candidates with Core Server Side C++ and Core Java. We have also seen increasing demand for System Programmers with skills in scripting languages such as Python, Perl and Shell Scripting and, amongst big brand employers, Scala. This trend will continue. Finding the right candidate will remain a challenge. This year s Hays Salary Guide reflects the use of increased salaries as a way of attracting high calibre candidates to fill the growing number of roles on offer. As well as increasing salaries, employers will now consider candidates from overseas, including from non-chinese language backgrounds, in order to fill their vacancies. However, as recruiting from overseas is more expensive and takes more time, candidates must meet very specific criteria including prior experience working in finance technology. Looking ahead, China s finance sector will continue to experience consistent growth. Employers include foreign multinationals, local firms and a growing number of new comers including local and global fund management firms and trading firms. With positive hiring intentions, demand will remain high for Programmers and Quant Developers with C++ skills, strong logical thinking abilities, algorithm coding skills and the ability to build high frequency trading systems. Candidates with experience working with leading firms are being targeted and even poached, and thus employers must develop robust staff retention strategies. Demand for infrastructure technology professionals will remain stable. We will continue to see a modest increase in production support roles as more companies view this function as a cost effective move. HONG KONG One of the biggest trends in Hong Kong s finance technology jobs market is the growing demand for hybrid candidates who have both a business and technical background. As a result of cost cutting, employers are looking for candidates who can take on a role with dualresponsibilities across business and technology. This trend will continue in the year ahead. Employers are also placing a high value on candidates who have good soft skills such as interpersonal and communication skills and who can work effectively with internal stakeholders and external clients to advise them on technical solutions. The so-called through train stock connect scheme between Hong Kong and Shanghai has also generated demand for candidates. Java Developers were in demand in the lead up to the November 2014 launch and we expect the gradual integration of the two systems to generate additional hiring activity across development and other systems integration jobs. In other trends, Data Analysts are in increasing demand, especially those with a proven track record of analysing big data to detect patterns useful to understanding future markets. Candidates need to be adept at obtaining data from a wide variety of sources, from social media to internal business reports. Data Analysts are also helping companies achieve greater cost efficiencies. Hong Kong s changing regulatory environment is driving demand for Business Analysts to assist financial institutions to understand and comply with new regulations as well as develop tighter internal controls of regulatory reporting and tracking. We have also seen growing demand for IT Security specialists, especially those with Certified Information Systems Security Professional (CISSP) credentials. This demand is driven by the rising volume of business carried out over the Internet and the resulting need for greater privacy protection. We have also seen a particular increase in the number of Security Consultant roles available. Candidates must have outstanding security knowledge and good interpersonal skills as roles involve a lot of client facing work, including presales consultations. JAPAN 2015 will be another good year for finance technology candidates in Japan, with demand pushing up salaries for select roles. The upgrading of IT infrastructure remains a priority for many companies in Japan, which is creating continuing demand for IT Business Analysts, Project s and Quality Assurance experts. BAs with strong skills analysing business processes and systems are in particularly high demand as firms strive to develop more efficient processes and assess their existing business model and how to integrate it with technology. In an interesting trend, companies that started new projects in late 2014 to enhance technology systems opted to hire local Development and Application Support candidates rather than utilize offshore options. In other trends, Japan s stable and profitable insurance sector has been very active in hiring a range of technology candidates to carry out system upgrades to meet global standards. We have also seen candidates from the securities sector move into insurance to fill well-paid roles. Insurance firms have been willing to pay higher salaries to fill senior roles and even waive normal bilingual requirements to secure the right candidate. Candidates with relevant experience in systems development life cycle (SDLC) management and the delivery of vendor solutions will remain in high demand this year. Banks and insurance companies have also been hiring across Security, IT Risk and IT Audit for compliance projects and we expect this trend to continue. Financial institutions must meet new standards set by the Financial Services Agency and the Bank of Japan and integrate any new compliance measures with existing policies. Internal IT Support Engineers are also being hired in both permanent and temporary roles to support new IT systems and infrastructure. Candidates with strong 2015 Hays Salary Guide - Asia 47 SALARY INFORMATION: FINANCE TECHNOLOGY

48 FINANCE TECHNOLOGY SALARY INFORMATION: FINANCE TECHNOLOGY technical support experience who can keep a cool and logical head under pressure are in highest demand. Finally, in the IT infrastructure arena Network Engineers and Voice Engineers have been in high demand and there has been some hiring of Helpdesk and Desktop Customer Support professionals. SINGAPORE IT security, digital/e-commerce and Agile development will be the key hiring hotspots for the year ahead. These three areas generated strong recruitment activity in 2014 during what was an otherwise steady year for hiring. Demand for IT security professionals has increased in line with regulators introducing higher standards for managing customer data and keeping it secure in the face of rising cyber attack threat levels. Meanwhile, fierce competition has broken out amongst employers in the retail and private banking sectors to hire the best digital and e-commerce specialists to help devise new ways to win and keep customers. This will continue in In fact a technology arms race is building as banks strive to customise products and improve the customer experience in an effort to stand out from competitors. While the pressure is intense in such workplaces the rewards for candidates include competitive salaries and the chance to work on innovative projects. Digital and CRM/analytics specialists will also be in high demand this year to help realise plans by all the main banking groups in Asia to develop and expand their online presence. To do this, banks need staff who can master complex analytics tools that help them understand their customers better. The introduction in 2014 of the Fair Consideration Framework to promote local hiring wherever possible provided another challenge for banks in Singapore. Given the candidate short market, employers now need to balance hiring the best local talent with hiring the best candidate as quickly as possible. In contrast, offshoring remains a popular option for banks filling lower level Hays Salary Guide - Asia transactional roles. Singapore is seen as a medium cost location and any proposal to base these roles locally requires wellsupported justification. Looking ahead, Singapore will remain a key regional hub with many banks choosing to locate their headquarters and their client facing technical roles here. For this reason we expect Agile Developers building applications in C++, Java and Python to be another area of demand this year. MALAYSIA Malaysia s finance technology industry is still booming but critical candidate shortages and government restrictions on hiring candidates from outside the country will continue to pose challenges for employers this year. Strict policies set by Malaysia s National Bank, Bank Negara, limit the amount of international hires a financial institution can make. This has presented a number of hiring challenges including a shortage of candidates able to take on niche software development roles and a greater need for companies to look at retention strategies as local talent eye higher salary packages in other parts of Asia and the world. Candidates in demand include Project s and Program s to drive projects related to banking applications and banking and insurance operations. However, there is a shortage of candidates with the necessary leadership skills and technical background. Candidates for these roles are also expected to have a good command of English and strong analytical thinking abilities. IT security specialists are sought to help financial firms devise systems to protect data with cloud and virtualisation technologies. IT security professionals are also needed to implement and monitor IT security policies. Along with IT security experts, we are also seeing strong demand for audit and compliance professionals within infrastructure Last year we saw critical candidate shortages develop, particularly in niche areas such as Cobol, SAP, Life400, POLISY400, and for candidates who can utilise the latest technology tools to manage large data migration projects such as Hadoop, SSIS, SSRS, Python, and R Programming. We expect demand for these skills will continue in the year ahead. Mergers and acquisitions (M&A) have taken place across the financial services sector in most developed nations, including Malaysia. This includes both cross-border and domestic mergers, in both the banking and insurance industries. This activity is the result of globalization and the development of information technology, which has led to a more competitive financial systems market and organizations attempting to position themselves as major players in Southeast Asia. Looking ahead, many employers are still considering whether or not to enhance their technology systems this year or maintain their existing legacy systems instead. Upgrades will create a huge spike in demand for a range of candidates including Project s, Business Analysts and IT security specialists. The upgrading of IT infrastructure remains a priority for many companies in Japan, which is creating continuing demand

49 FINANCE TECHNOLOGY MANAGEMENT Infrastructure Development IT Director CIO China ,200 1,000-2,500 Hong Kong 750-1, ,400 1,000-1,800 2,000-4,000 Japan Singapore Malaysia SUPPORT FUNCTIONS Application Support Team Leader FIX Connectivity Support Market Data Engineer Application Support China Hong Kong ,200 Japan Singapore Malaysia OTHER Quantitative Analyst IT Security/ IT Risk IT Audit BCP China Hong Kong 600-1, , ,000 Japan Singapore Malaysia Project Service Co-ordinators/PMO Delivery Tester Test China Hong Kong , ,000 Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 49

50 FINANCE TECHNOLOGY Business Analysts CASH (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,400 1,200-2,000 2,000-2,800 Japan Singapore N/A N/A Malaysia N/A N/A DERIVATIVES (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000-1,500 1,200-1,600 2,000-3,200 Japan Singapore N/A N/A Malaysia N/A N/A ELECTRONIC TRADING Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,600-2,200 2,200-3,200 Japan Singapore N/A N/A Malaysia N/A N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

51 FINANCE TECHNOLOGY Project Management CASH (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-2,200 2,200-2,800 Japan Singapore N/A Malaysia N/A DERIVATIVES (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-2,200 2,200-2,800 Japan Singapore N/A Malaysia N/A ELECTRONIC TRADING Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-2,200 2,200-2,800 Japan Singapore N/A Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 51

52 FINANCE TECHNOLOGY Java CASH (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong , ,500 1,500-2,000 2,000 + Japan Singapore Malaysia DERIVATIVES (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong , ,500 1,500-2,000 2,000 + Japan Singapore Malaysia ELECTRONIC TRADING Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong , ,500 1,500-2,000 2,000 + Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

53 FINANCE TECHNOLOGY C++ CASH (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-1,800 1,800-2,000 Japan Singapore Malaysia DERIVATIVES (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-1,850 1,800-2,000 Japan Singapore Malaysia ELECTRONIC TRADING Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-1,850 1,800-2,000 Japan Singapore Malaysia Excel/VBA/RAD DERIVATIVES (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-1,800 1,800-2,000 Japan Singapore N/A Malaysia N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 53

54 FINANCE TECHNOLOGY C# CASH (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-1,800 1,800 + Japan Singapore Malaysia DERIVATIVES (ALL ASSET CLASSES) Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-1,800 1,800-2,000 Japan Singapore Malaysia ELECTRONIC TRADING Non-Officer (Associate) AVP Senior Associate VP ED MD China ,000 1,000-1,300 1,300-1,600 Hong Kong ,000 1,000-1,500 1,500-1,800 1,800 + Japan Singapore Malaysia Mainframe, AS/400 COBOL Non-Officer (Associate) AVP Senior Associate VP Malaysia ETL Informatica, Oracle PL/SQL, RDMS, Data Warehouse, SAS BUSINESS INTELLIGENCE Non-Officer (Associate) AVP Senior Associate VP Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

55 FINANCE TECHNOLOGY Insurance APPLICATION DEVELOPMENT - FRONT OFFICE C++/Java/ C# Developer Excel/Visual Basic Developer Japan Database Developer Application Architect/ Lead Developer Development Japan Main Frame Developer APPLICATION DEVELOPMENT - MIDDLE/BACK OFFICE C++/Java/ C# Developer Excel/Visual Basic Developer Database Developer Japan Application Architect/ Lead Developer Development Japan Main Frame Developer APPLICATION SUPPORT - FRONT OFFICE Application Support Team Leader Japan APPLICATION SUPPORT - MIDDLE/BACK OFFICE Application Support Team Leader Japan OTHERS Business Analyst (Front Office) Business Analyst (Back Office) Japan IT Security/IT Risk IT Audit BCP Japan Project (Front Office) Project (Back Office) Program Japan Project Co-ordinators/PMO Service Delivery Test Japan MANAGEMENT Infrastructure Development - Front Office Japan Development - Middle/Back IT Director CIO Application Support Japan Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 55

56 INFORMATION TECHNOLOGY SALARY INFORMATION: INFORMATION TECHNOLOGY CHINA China s IT sector is booming as companies look to harness the latest technologies including web development, mobile, business intelligence and big data to drive expansion and help them deliver more to their growing number of consumers. The increasing business and hiring activity is pushing up demand for IT talent and creating candidate shortages in some areas. We have also seen the break out of salary bidding wars in small pockets of the market as employers vie for the best candidates. We predict upward pressure on salaries more generally this year across a number of roles. Candidates with strong technical skills in Internet/web development and bilingual fluency in English and Mandarin will continue to be highly sought this year. Roles in strong demand include User- Interface Developers, Front-end Developers and Mobile Developers (ios and Adroid) with the hottest skill sets being PHP, JavaScript, SaaS, Crawler,.NET, Java and UI/UX. We expect another big year ahead for cloud technologies in China as companies look for the best ways to store and then access large amounts of data. This is creating high demand for experienced Cloud Architects and Engineers. And employers have a particular interest in finding IT professionals able to help them meet the challenge of accessing data stored across multiple clouds without losing control of their information. ROLES IN STRONG DEMAND INCLUDE USER-INTERFACE DEVELOPERS, FRONT-END DEVELOPERS AND MOBILE DEVELOPERS Many organizations in China are also investing in business intelligence and big data capabilities to help inform their business decisions. While it s still early days, companies are looking to ramp up their capabilities but only if they can find enough of the right IT talent. Sourcing candidates from inside China is challenging and consequently some Hays Salary Guide - Asia employers are now prepared to look overseas. The demand for candidates will only grow further this year, especially for those experienced in using big data technologies Hadoop, Hortonworks, Teradata and Cloudera. Meanwhile, China remains one of the world s preferred locations for manufacturing operations with most MNCs still using SAP for ERP. We expect the strong demand for SAP candidates to continue, particularly those with project management skills coupled with good infrastructure and data centre skills. It is essential candidates have solid English language skills as most projects are regional in reach. In the wake of several high profile information security breaches over the past few years, the Chinese Government continues to favour engaging local companies in the interest of national security to work on its own projects. This focus on using Chinese IT companies will continue this year, which will lead to increased headcounts and rising demand for a range of roles. HONG KONG Hong Kong saw steady demand for IT professionals in 2014, especially those with a strong infrastructure background. This looks set to continue. Overall, salaries did not increase significantly in 2014 particularly when compared to tech salaries in the banking and finance sectors. This year however we expect some increases. Solution sales specialists continue to be in strong demand in Hong Kong although in the telecommunications and IT sectors, marquee candidates dominate and are able to command salaries significantly above market rate. Infrastructure specialists remain in strong demand too as core infrastructure operations are based in Hong Kong. Candidates in highest demand are those experienced in data centre operations, IT support and Infrastructure Analysts. We also noted an increasing number of IT development projects being outsourced to other parts of Asia, particularly to China and India as these countries build a reputation as low cost development hubs able to deliver quality services. Despite this trend, we have seen a rise in demand for Solution Architects with strong technical skills and good interpersonal skills who are able to take a consultative approach in their work. We have also seen companies specializing in systems integration outsourcing projects to Hong Kong. This has created a steady demand for Business Analysts and Project s with both good commercial acumen and strong technical knowledge. Candidates in both contract and permanent roles need to be able to liaise closely with the business, as migration and technology upgrade projects tend to have very tight deadlines. JAPAN Japan s IT candidate market is expected to grow further in 2015 after a strong year in Hot roles in 2014 tipped to be in strong demand again this year include those connected with big data, software testing, network, ERP and telecoms operational support systems and business support systems (OSS/BSS). Increased salaries have followed the rising candidate demand and we have seen some roles attract significantly higher salaries. In the area of big data, Japanese businesses continue to expand the data mining capabilities of their technology teams to help their sales and marketing departments formulate strategy. As a result, Data Architects and Data Modelers are in hot demand right now and this is driving up salaries. We expect this demand and upward salary pressure to continue this year. Meanwhile, Japanese companies are making a bigger investment in the development of new technology systems generating greater demand for Software Testing. We expect already growing salaries to increase further this year in line with rising hiring demand. The infrastructure space has seen a spike in hiring amongst MNCs investing in system upgrades. Strong hiring activity and increased salaries apply to in-house roles and those in vendor organizations.

57 INFORMATION TECHNOLOGY In the ERP space, companies are upgrading their systems to achieve greater cost and operational efficiencies. This is driving up hiring demand in an already candidateshort market and keeping salaries on the rise. Roles in particular demand include ERP Consultants, Developers and Project s. We expect these conditions to continue this year. And finally, the telecoms market has seen salary increases in line with a significant spike in demand for candidates in the OSS/ BSS space, particularly Business Analysts and roles. We have also seen telecom vendors diversifying into OSS/BSS solutions and moving more into the delivery of software-related telecom technologies. SINGAPORE Continuing strong demand for skilled IT professionals in Singapore is being driven by several key factors that will have a positive impact on salaries this year. Firstly, businesses are benefiting from South East Asia s economic growth and many MNCs are expanding their regional headquarters in Singapore as a result. In addition, Singapore is experiencing a fast growing technology start up sector, which is driving up demand for Developers with experience in Java,.Net/C#, ios and Android. We expect those candidates moving jobs in 2015 to achieve salary increases of 10 to 15 per cent. Further intensifying the war for talent are large organizations investing in their IT capabilities to realize the cost savings and increased flexibility offered by a range of new technologies. These include cloud, virtualization, infrastructure consolidation and utility computing. Roles in demand to assist with transformation projects include Project s, Architects and Technical Sales Professionals. Security and mobile technology professionals are also in high demand in a number of sectors. Singapore s tighter policies around hiring from overseas are making sourcing candidates harder in most segments and driving up salaries for local professionals in certain roles. At the lower end of the salary market such as Helpdesk Support, organizations are reacting to the candidate tight market by using outsourcing options in low cost markets, which in turn is keeping Singapore salaries for these roles stable. Singapore also has a good supply of senior management IT talent, which has curtailed the need for higher salaries or expensive expatriate options. However, in the junior to mid level specialist range such as Mobile Developers and Network Engineers, restrictions on hiring from overseas is definitely creating a talent squeeze for local candidates and driving up salaries. Overall, we expect a buoyant market for IT talent this year with higher salaries for candidates in many roles. MALAYSIA The Malaysian IT talent market looks set for another year of strong growth with candidate shortages developing in certain segments. This will place pressure on employers who did not increase salaries competitively in Business conditions in a number of sectors are being strengthened by the continued government initiatives designed to nurture IT-related enterprises and bolster Malaysia s reputation as the place to source the best talent and business solutions. For example, companies using multimedia technologies to produce and enhance their products and services can benefit from special recognition and considerations as part of the MSC Malaysia initiative. Government measures have also been implemented to establish Malaysia as a global shared services hub. Outsourcing in key verticals such as banking and financial services is attracting significant investment in data centres, development centres and other infrastructure ventures. This is creating strong demand for Network Engineers, System Engineers, Security Consultants and Server Infrastructure Engineers. We have also seen higher demand for mid to senior candidates skilled in Microsoft Networking as well as stronger hiring activity for programming experts with niche skill sets in Java,.Net, Business Intelligence tools, C++ and IOS/Android Development. Overall, we expect to see some salary increases this year, particularly for roles experiencing a candidate shortage. Employers who expect to win the race for talent this year should be prepared to be more flexible on remuneration and towards hiring expatriates to fill businesscritical roles. In Malaysia, employers who expect to win the race for talent should be prepared to be more flexible on remuneration and towards hiring expatriates 2015 Hays Salary Guide - Asia 57 SALARY INFORMATION: INFORMATION TECHNOLOGY

58 INFORMATION TECHNOLOGY Development ANALYST PROGRAMMER MS.Net/J2EE VB6/ASP/SQL/ Delphi/C++ Oracle Forms/ Reports China Hong Kong Japan Singapore Malaysia SENIOR ANALYST PROGRAMMER MS.Net/J2EE VB6/ASP/SQL/ Delphi/C++ Oracle Forms/ Reports China Hong Kong Japan Singapore Malaysia DATA SPECIALISTS Data Architect Database Administrator Data Modeller Data Warehouse Consultant Data Analyst China Hong Kong Japan Singapore Malaysia MANAGEMENT ROLES Development Team Leader Development China Hong Kong 660-1,000 1,000-2,000 Japan Singapore Malaysia SOFTWARE TESTING Test Analyst Senior Test Analyst QA QA Director China Hong Kong , ,100 Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

59 INFORMATION TECHNOLOGY Infrastructure WAN Cisco Engineer Voice/ Comms Engineer Network Design Technical Architect Solutions & Enterprise Architect NOC Engineer China Hong Kong , , , , Japan Singapore Malaysia SYSTEMS ADM INISTRATION Unix A dmin Sybase/ Oracle/MS SQL DBA Storage Engineer Voice Engineer Network Engineer Windows (Wintel) Admin China Hong Kong , Japan Singapore Malaysia TECHNICAL SPECIALIST Security Engineer Security Consultant Messaging Specialist Unix Consultant Pre Sales Engineer China N/A N/A Hong Kong , , Japan Singapore Malaysia MANAGEMENT ROLES Helpdesk Network IT China Hong Kong , ,500 Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 59

60 INFORMATION TECHNOLOGY Business ANALYSIS & PROJECT Technical Business Administration Business/ Process Analyst Systems Analyst China Hong Kong Japan Singapore Malaysia Project Project/ Program Director IT Audit China , Hong Kong 720-1, , Japan Singapore Malaysia ERP/CRM PeopleSoft Technical PeopleSoft Functional Basis Administration SAP Analyst China N/A Hong Kong , ,000 Japan Singapore Malaysia SAP Functional Consultant ABAP Developer Oracle Developer ERP Project China Hong Kong 520-1, ,000-1,450 Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

61 INFORMATION TECHNOLOGY Business MANAGEMENT ROLES Data Centre Service Delivery Client Relationship Professional Services China Hong Kong 650-1, , ,000-1,800 Japan Singapore Malaysia IT Director Chief Information Officer Project Director Network Operations China 600-1,000 1,000-2, Hong Kong 1,500-2,500 1,500-3, , Japan Singapore Malaysia BUSINESS DEVELOPMENT Senior Sales Director Account China , , Hong Kong 750-1,100 1,000-2,000 1,500-1, Japan Singapore Malaysia Presales Consultant Presales Technical Sales Industry Consultant China Hong Kong ,400-1,800 N/A Japan N/A N/A Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 61

62 INFORMATION TECHNOLOGY Telecom Development BILLING Development Integration Support Architect Business Analyst Japan Singapore Malaysia CRM Development Integration Support Architect Business Analyst Japan Singapore Malaysia SDP Development Integration Support Architect Business Analyst Japan Singapore Malaysia OSS Development Integration Support Architect Business Analyst Japan Singapore Malaysia BSS Development Integration Support Architect Business Analyst Japan Singapore Malaysia VAS Development Integration Support Architect Business Analyst Japan Singapore Malaysia EAI Development Integration Support Architect Business Analyst Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

63 INFORMATION TECHNOLOGY Telecom Infrastructure MPLS NETWORK Engineer Integration Support Architect Presales Japan Singapore Malaysia FIXED & MOBILE NETWORK Engineer Integration Support Architect Presales Japan Singapore Malaysia BTS/MICROWAVE Field Service Engineer Senior Engineer Lead Japan Singapore Malaysia VAS NETWORK Engineer Senior Engineer Japan Singapore Malaysia Telecom Business ANALYSIS & PROJECT Business Transformation Project Japan Project/Program Director Singapore Malaysia MANAGEMENT ROLES Service Delivery Mgr Managed Services Mgr Chief Solution Architect Director Services Japan Singapore Malaysia BUSINESS DEVELOPMENT Senior Account Presales Consultant Presales Technical Sales Japan Industry Consultant Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 63

64 LIFE SCIENCES SALARY INFORMATION: LIFE SCIENCES CHINA China continues to attract substantial research & development (R&D) investment from the US and Europe as pharmaceutical MNCs look to contain costs. This is creating strong demand for candidates, particularly those in biometrics and early drug discovery. Despite demand, budgets are being tightly controlled. Candidates from abroad should therefore expect a reduction in their pay, although this is cushioned by the opportunity to take on senior leadership roles in R&D. In other trends, biopharmaceutical roles are on the rise. Candidates have a strong interest in working on large molecule projects, which are known around the globe for paying higher salaries. CANDIDATES HAVE A STRONG INTEREST IN WORKING ON LARGE MOLECULE PROJECTS Pharmaceutical companies continue to outsource their clinical research projects to China, which is creating high demand for clinical quality and training candidates to work in clinical research organizations (CROs). CROs are also offering the services of Medical Science Liaisons to their clients, which is driving up demand for these candidates. In the biometrics field SAS Programmers with two or more years of experience are sought. Junior and mid-level sales and marketing candidates are also in demand to work on the rising number of product and project launches being held in China. As these candidates are in limited supply, salary levels for those with five to eight years of experience are on the rise. In a final trend, medical degrees or certifications are no longer mandatory for commercial candidates, while business acumen is now considered highly desirable in junior candidates. HONG KONG Over the past year highly skilled candidates have been in demand to work in pharmaceutical and medical technology firms. We expect solid recruitment activity this year too, Hays Salary Guide - Asia particularly for commercial talent and those with specific scientific expertise. While fewer products were released last year, pharmaceutical companies continued to hire commercial staff. Medical science liaison candidates were and remain in particularly strong demand. Quality assurance professionals are also sought to help pharmaceutical companies comply with increasing regulatory demands, both locally and globally. Smaller entrants to the market have been able to attract candidates who once worked for more prestigious firms. We note that the availability of roles in larger firms has declined following a burst of merger and acquisition activity. Candidates with skills in specific therapeutic disciplines remain in steady demand. Those with oncology and primary care experience combined with strong project management and interpersonal skills are in particular demand. Overall salaries have remained stable although sign-on bonuses are being used to entice top candidates out of an existing job. We have also seen employers pay a special fee to secure the early release of a preferred candidate. JAPAN Recruitment activity in Japan increased last year and we expect another strong year ahead. However salaries remained steady in 2014, with employers instead using sign-on bonuses to secure bilingual candidates. Japan s CRO market continues to grow in size and sophistication. The one-stop shop is giving way to CROs specialising in a specific functional area as a way of competing for market share and this will continue to shape recruitment priorities. Clinical Research Associates and Regulatory Affairs specialists will be in high demand this year due to the constant flow of new drugs and NDAs taking place across various therapeutic areas. We expect this increase in new products to result in solid recruitment activity for Marketing Product s, Salespeople and Medical Science Liaisons. In light of Japan s aging population, more companies are placing a greater focus on regulatory affairs staff, especially when it comes to succession planning. Regulatory affairs is a particular priority for medical device companies expanding their product offering to maximise sales. Employers are looking for bilingual candidates for quality assurance, safety and good vigilance practice roles. Cost reduction and process improvement are primary objectives. SINGAPORE The biomanufacturing sector continues to lead the demand for talent in Singapore as new players enter the market and major existing facilities gear up for expansion. Last year three major organizations opened new facilities in Singapore, adding to the dynamic biocluster. MNCs across the sector are actively seeking candidates with technology transfer experience in process, chemistry and engineering. Competition for commercial talent is also intensifying. Singapore serves as a major hub for Asia, which is the world s fastest growing emerging consumer market for life sciences products. We have also seen a change in the way sales professionals are renumerated due to the pressure created by Singapore s compliance and anti-bribery policies. Companies no longer favour the traditional target-driven performance bonus paid to individual employees. The common approach now is to pay higher fixed base salaries and then calculate bonuses based on the combined performance of both an individual and his/her team. Overall salaries continue to remain stable in Singapore, with a premium placed on local talent with bilingual capabilities. We note that the mismatch in the salary expectations of candidates and employers continues, but we hope to see this align more closely in the year ahead.

65 LIFE SCIENCES COMMERCIAL Country Sales Director Medical Rep Account Area Sales China 2,500-4,000 1,200-2, Hong Kong 1,600-4,000 1,200-1, Japan Singapore Regional Sales Product Marketing Associate Marketing Marketing Director China ,500 Hong Kong ,600 Japan Singapore Business Development Business Development Director PR/Corp Comm China , Hong Kong , Japan Singapore SFE Specialist Medical Information MSL (commercial) China Hong Kong N/A Clinical Specialist Japan Singapore TECHNICAL Good Clinical Practice Good Manufacturing Practice Mgr Good Laboratory Practice Quality Control Pharmacovigilance China N/A N/A Hong Kong N/A N/A N/A N/A Japan Singapore Medical Affairs Officer Medical Affairs Medical Affairs Director Drug Safety Drug Safety Senior Specialist China , Hong Kong ,200 N/A N/A Japan Singapore 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 2015 Hays Salary Guide - Asia 65

66 LIFE SCIENCES TECHNICAL Regulatory Affairs Staff Regulatory Affairs Regulatory Affairs Director Scientific Affairs Clinical Research Associate Senior Clinical Research Associate China ,300 N/A Hong Kong , Japan Singapore Clinical Research Project Study Monitor Clinical Research Director Data Management Specialist Data China , Hong Kong N/A N/A N/A Japan Singapore SAS Programmer BioStatistic Scientist Senior Scientist Principle Investigator Research & Development Director China , ,000 Hong Kong N/A N/A , ,000 Japan Singapore Physician Medical Writer Application Specialist Technical Support Specialist MSL (Scientific) HEOR/ Market Access Staff China Hong Kong N/A Japan Singapore HEOR/ HEOR/ Market Access Market Access CMC Director Specialist Lab Director Lab Lab Staff China , Hong Kong ,400 N/A Japan Singapore Biology Scientist Medicinal Chemist Translational Services Scientist DMPK/ Pharmacology Scientist China Hong Kong N/A Japan Singapore 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 Hays Salary Guide - Asia

67 HUMAN RESOURCES CHINA China s HR jobs market was buoyant in 2014 with several key trends impacting the market. One of the biggest was the formation of a multi-dimensional HR sector as a market allocation mechanism took shape. Another was the rising number of HR professionals with a multinational corporation (MNC) background who joined private owned enterprises (POEs). This trend was most obvious at the senior level, as POEs expanding their international business hired strategic HR professionals with strong business acumen who could provide advice based on their solid and systematic MNC experience. In terms of trends by industry, the most notable has been the continued high vacancy activity in emerging industries such as Internet and e-commerce. HR vacancy activity in traditional industries such as FMCG and manufacturing remains stable, while fewer roles are available in professional services companies due to the government s policy limitation. LOOKING AHEAD, THE OUTLOOK FOR HR PROFESSIONALS IN CHINA THIS YEAR IS VERY STRONG Looking ahead, the outlook for HR professionals in China this year is very strong. Candidates in demand include all levels of compensation & benefits functional experts, HR Business Partners, mid to senior Talent Acquisition s and Learning & Development s. Many of these new hires will secure a significant salary increase. Candidates with MNC experience remain highly valued. In fact MNCs, POEs, and even state-owned enterprises (SOEs) will offer Chinese HR professionals global transfer opportunities in order to develop their skills and add international experience to their organizations. HR professionals themselves are also openly expressing a desire to access global transfers as a way to develop their career. HONG KONG Solid hiring activity characterized Hong Kong s commercial sector in 2014, and this is set to continue largely due to the number of foreign-owned companies establishing operations here. This trend has created demand for both HR Business Partners as well as HR Generalists. In contrast, the financial services sector preferred to engage HR professionals mostly on a temporary basis in 2014 and we expect this cautious approach to continue in the year ahead. We have seen shortages of compensation & benefits (C&B) professionals in Hong Kong and therefore expect C&B demand to remain. On the flip side, we expect demand for learning & development (L&D) professionals to slow since organizations instead prefer C&B as a retention tool. For Business Partners and Generalists, we predict hiring rates and salary levels will remain steady this year across both commerce and financial services. Large corporations will continue to engage contract HR Transaction Services and Shared Services candidates with only small increases in hiring. While salary levels are expected to remain steady in the year ahead for most job functions, employers will offer a higher salary in order to secure the right senior HR candidates. Employers are also placing a greater focus on retention rather than attraction, and thus they are investing in L&D. JAPAN The 2014 Hays Global Skills Index revealed that Japan s talent mismatch, or gap between the skills businesses need and the skills available in the labour market, is the most severe in Asia Pacific. As confidence slowly returns to Japan s recruitment market, the foundations are being laid for a real war for talent. To manage these conditions, organizations have a strong need for Talent Acquisition Specialists at the senior and junior level who can secure the right hires in an increasingly tight candidate market. Talent Acquisition s should have five to 10 years of experience and be prepared to hit the ground running. Employers expect Talent Acquisition s to have immediate impact by determining the organization s hiring needs, mapping the recruitment market, engaging appropriate vendors and implementing a recruitment strategy while managing a team. Companies are also prepared to hire junior executives with one to three years of experience and invest in their development. The focus for these recruits is very much on providing a transactional candidate acquisition function. Lack of professional development is a key reason why employees leave their organization across a range of sectors. This has created a greater need for HR professionals able to develop effective retention strategies such as learning & development. Talent management is key to employee retention and providing individuals with a clear and structured career path is seen as the best way to demonstrate that they have a future with their employer. Talent management and development teams that were reduced in recent years are now being fully restored and tasked with linking the people and business strategies of the organization through succession planning, job grading and change management. Meanwhile, HR Business Partners remain in high demand in Japan but a shortage of candidates with soft and hard skills makes filling roles very challenging. Most companies are looking for more aggressive and commercially minded HR professionals who take a hands-on approach to translating HR strategies into measurable results. SINGAPORE HR salaries will remain strong this year as the candidate shortage continues in Singapore. We will see increased demand for both permanent and temporary/ contract HR talent thanks to a number of factors. These include the emergence of new regional hubs based here as well as an increasing number of companies moving their headquarters to Singapore Hays Salary Guide - Asia 67 SALARY INFORMATION: HUMAN RESOURCES

68 HUMAN RESOURCES SALARY INFORMATION: HUMAN RESOURCES On top of this, HR professionals are in high demand to help employers meet the challenges posed by a broader candidate shortage. We believe employers will be open to paying a higher salary for the right person in the year ahead, but only once they have exhausted the search for a quality candidate at their original lower salary level. This approach will lead to delays in hiring and consequently employers could miss out on strong candidates. Middle management HR professionals were in particularly high demand in 2014, but by year s end learning & development and compensation & benefits specialists were at the top of the demand list. Both specialists are seen as key to helping organizations develop employees while retaining them, especially high potential employees. A gap between operational and strategic HR Generalists at the mid to senior level is a particular challenge for companies, resulting in drawn out recruitment campaigns. However, we note that the number of roles at the senior HR Generalist level, especially regional roles within MNCs, has become a little saturated in places. Meanwhile, the temporary and contract market grew strongly in 2014 and we expect to see huge growth this year as employers hold off making decisions about permanent headcount, especially within the banking sector. Other factors include the more positive regard employers and candidates have for the sector and a willingness by employers to pay benefits and bonuses to contingent staff. MALAYSIA We expect another year of growth for Malaysia s HR market and salary increases for top talent. Several areas of demand will exist. Firstly, candidates with regional experience are valued by organizations moving their regional headquarters here and are thus able to command salary increases. Also, as organizations shift their focus from cost reduction to retention and engagement, we have seen a particular increase in demand for talent management and organizational development skills to strengthen retention Hays Salary Guide - Asia strategies and build all-important succession plans. Compensation & benefits (C&B) candidates are in high demand to work hand-in-hand with the business to execute these retention strategies. Not surprisingly, we expect the salaries for C&B niche specialists to continue to rise in the year ahead. We also saw continuing strong demand for strategic HR Business Partners to support all divisions of an organization. And we have seen steady hiring activity at the executive and senior levels as well. Meanwhile, Malaysia s shared services sector continues to grow rapidly. These organizations have a huge appetite for HR talent and we expect this to continue well into the year. Our message to employers in 2015 is to review their speed to hire. The HR market in Malaysia will continue to grow and for organizations to remain competitive they must strive to expedite their recruitment process to ensure they secure top HR talent. We expect another year of growth for Malaysia s HR market and salary increases for top talent

69 HUMAN RESOURCES Regional HR Director/ VP of HR (15+ yrs) Regional HR Director (10+ yrs) HR Director/Head of HR (8-10+ yrs) HR Director/ Head of HR (<8 yrs) China 1,200-2,000 1,000-1, , ,000 Hong Kong 1,200-2, , , ,200 Japan N/A N/A Singapore Malaysia Regional HR / HRBP (10+ yrs) HR /HRBP (10+ yrs) HR /HRBP (5+ yrs) Assistant HR (2+ yrs) China Hong Kong Japan Singapore Malaysia HR Associate (5+ yrs) HR Officer (2+ yrs) Regional Talent Acquisition Director (12+ yrs) China , Hong Kong , Japan N/A Singapore Malaysia Regional Talent Acquisition (10+ yrs) TA/Recruitment (8+ yrs) TA/Recruitment Coordinator (3+ yrs) Campus Recruiter (3+ yrs) China Hong Kong Japan Singapore Malaysia Regional L&D Director (10+ yrs) Regional L&D (10+ yrs) L&D (5+ yrs) L&D Officer (3+ yrs) China 800-1, Hong Kong 900-1, Japan N/A Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 69

70 HUMAN RESOURCES Regional Director Compensation & Benefits (12+ yrs) Regional C&B (10+ yrs) Compensation & Benefits (8+ yrs) Compensation & Benefits Specialist (3+ yrs) China 800-1, , Hong Kong Japan Singapore Malaysia HRIS (8+ yrs) HRIS Administrator (3+ yrs) China Hong Kong Japan Singapore Malaysia Payroll (8+ yrs) Payroll Officer (3+ yrs) Shared Services (8+ yrs) Organizational Development (10+ yrs) China ,000 Hong Kong Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

71 OFFICE PROFESSIONALS CHINA In 2014 we saw a number of significant changes in China s office professionals market that will impact salaries this year. Overall demand for Executive Assistants (EAs) and Personal Assistants (PAs) declined, which will hamper salary growth. Many Senior EAs with up to 10 years of experience were made redundant when companies that had based their headquarters in China closed or relocated to other Asian countries. We also saw many organizations split the EA role into two distinct areas of responsibility to cut costs. EAs in these roles now support both a particular senior executive as well as provide administration support to a senior management team. Salaries did not increase along with this change, and so EAs in such roles usually enter the jobs market. Interestingly, when recruiting for these roles the search criteria from employers is less rigid than it is for traditional EA roles. We also saw a dramatic increase in the demand for contract and temporary EAs and PAs. This demand will continue in the year ahead, with employers paying higher rates to attract top talent. Such candidates must be as qualified as any candidate considered for a permanent role. However, the time to hire is much faster and hours can be more flexible. HONG KONG 2014 s steady hiring demand will continue this year across most sectors and industries, but office professionals will need to manage their salary expectations carefully. Despite demand, salary growth was lacklustre in This trend will continue, and so candidates need to be flexible in their salary demands if they want to remain competitive. At the same time, employers have high expectations when it comes to their preferred candidate. For example, a major trend in 2014 was the demand for trilingual candidates. This trend has been driven by Chinese companies looking to open offices in Hong Kong as well as by MNCs needing trilingual staff in order to work closely with organizations in China. Preferred candidates must also demonstrate a proven ability to multi-task without compromising quality, a stable work history, an ability to work quickly and efficiently and the skills to hit the ground running in a new role. In the banking and financial services sector, recruitment activity increased last year. By the end of 2014 we saw fairly strong levels of hiring. As always, Legal Secretaries are in demand and we expect this to continue in the year ahead, especially for junior candidates with international law, corporate law and litigation experience. Again, candidates should not expect salaries that reflect this level of demand. JAPAN In an increasingly globalized Japan, employers continue to seek bilingual candidates to fill all back office functions. Candidates are expected to be able to communicate directly and effectively with foreign co-workers and colleagues in overseas headquarters and branches. The increasing number of global companies opening offices in Japan is also driving up demand for bilingual staff. In addition, start-ups and companies headed by foreign executives want office professionals who can manage a range of tasks from secretarial and translation duties to office management. IN AN INCREASINGLY GLOBALIZED JAPAN, EMPLOYERS CONTINUE TO SEEK BILINGUAL CANDIDATES TO FILL ALL BACK OFFICE FUNCTIONS Overall, we saw solid hiring activity for all office professional job functions in Japan in 2014 including permanent, direct contract, temporary-to-permanent and temporary roles. In the temporary sector, Sales Administrators, Assistants, Translators and Interpreters remain in greatest demand. This year, we expect salaries to stay fairly stable. However, we have seen a trend of replacing a departing employee with a less experienced candidate at a lower salary level a trend we expect to continue. At the other end of the scale, we expect the role of the EA to evolve. Rather than be a reactive administration role, EAs will need to be commercially aware in order to support and even partner with the executive they report to. SINGAPORE The hiring market for office professionals in Singapore is buoyant aided by a low unemployment rate. Overall, salaries remain stable with no significant increases for any roles or sectors and we expect this to continue in the year ahead. However, savvy office professionals have taken advantage of the tight candidate market to secure roles offering career progression and thus a higher salary. Employers are also prepared to offer extra benefits to secure their preferred candidate such as additional leave, medical insurance and financial allowances. Over the next 12 months we expect to see high volume recruitment in the financial services, legal services and trading industries. Due to Singapore s position as an Asian hub, candidates with regional experience will be held in particularly high regard. Traditional roles that support a single executive remain available but we have also seen a rise in roles that support multiple managers simultaneously. During 2014 we saw high demand for experienced Executive Assistants and Team Secretaries across all industries. New start-ups were a dominant employer but we also saw solid demand from asset management and trading firms too. We expect this to continue. Lastly, we have seen an uptick in the strategic use of temporary and contract office professionals. This sector of recruitment is still young in Singapore but employers and candidates alike are increasingly seeing the benefits of the flexibility offered by contract and temporary roles and so we expect to see continued growth of such roles in the year ahead Hays Salary Guide - Asia 71 SALARY INFORMATION: OFFICE PROFESSIONALS

72 OFFICE PROFESSIONALS ADMINISTRATION Administration Assistant (6-12 mths) Administration Assistant (12+ mths) Project Admin Assistant (3+ yrs) Office Project Coordinator China Hong Kong N/A Japan N/A Singapore ADMIN/SPECIALISTS Data Entry Operator Sales Coordinator Records O fficer Medical Secretary China N/A N/A N/A N/A Translator Japan N/A N/A Singapore RECEPTION Receptionist (up to 12 mths) Receptionist (12+ mths) China Receptionist/ Admin Assistant (12+ mths) Hong Kong Japan Singapore SECRETARIAL Secretary (up to 12 mths) Secretary (12+ mths) Team Secretary (3+ yrs) Personal Assistant/ Team Assistant Executive Assistant (for 1 person) China Hong Kong Japan Singapore LEGAL SUPPORT Legal Secretary (up to 2 yrs) Legal Secretary (2-4 yrs) Legal Secretary (4+ yrs) China N/A Legal Personal Assistant Hong Kong Japan Singapore BANKING & F INANCE S UPPORT Secretary Senior S ecretary Personal Assistant Executive Assistant China Hong Kong Japan Singapore PROPERTY & CONSTRUCTION SUPPORT Project Secretary/ Administrator Site Secretary/ Administrator Facilities Administrator Contracts Administrator (Residential) Japan N/A N/A 4-6 N/A N/A Client Liaison (Residential) Singapore Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses Hays Salary Guide - Asia

73 CONTACT CENTRES SINGAPORE The outlook for Singapore s contact centre market this year is upbeat after a strong year of growth in Many companies are expanding their existing operations while others are moving their contact centres back to Singapore after offshore options resulted in a drop in service levels. As a major South East Asian hub, Singapore is regarded as an ideal location for contact centre operations. The city offers access to an educated, skilled and professional workforce and boasts good infrastructure, including telecommunications, as well as an attractive tax system. Malaysia is offering some competition for local contact centre businesses but we are confident that the year ahead will remain buoyant for candidates in Singapore. Trends we have observed include a higher number of quality roles becoming available and a greater focus on improving the employment experience for contact centre employees. MANY COMPANIES ARE EXPANDING THEIR EXISTING OPERATIONS WHILE OTHERS ARE MOVING THEIR CONTACT CENTRES BACK TO SINGAPORE Industries such as telecommunications, healthcare, banking and insurance continue to dominate the employment market. Hiring priorities include finding candidates able to strengthen existing teams with the goal of improving productivity levels and service levels. This employment trend is generating a steady increase in demand for Trainers, Service Quality s, Workforce Analysts, Workforce Management s and Customer Experience s. Experienced Team Leaders, Supervisors and Assistant s able to motivate team members are also highly sought. Salaries for most roles will remain competitive in line with increased competition for the best people. However, we expect any increases in the salary scale for junior agents to be modest. The only black cloud on the horizon is the need to reduce staff attrition rates but even that has a silver lining for candidates. Employers are tackling this important issue through higher monetary rewards, improving the work environment and initiatives to boost staff morale and work satisfaction rates. Employers are also more receptive than ever to developing employees along different career paths. Where career progression was once confined to more senior roles in customer service, internal opportunities are now opening up in other departments such as training, business development and operations support. BANKING & FINANCIAL SERVICES Telesales Customer Service Executive Client Service Executive Singapore INSURANCE Telesales Customer Service Officer/Senior Customer Service Team Leader Singapore TELECOMMUNICATIONS Customer Service Officer Team Leader Customer Service Executive Singapore OTHERS Customer Service Officer/Senior Team Leader Assistant Singapore Salaries are represented in local currencies Typical salary range in 000 Salaries do not include bonuses Typical benefits on top of salaries stated include performance based bonuses /Senior 2015 Hays Salary Guide - Asia 73 SALARY INFORMATION: CONTACT CENTRES

74 LEGAL SALARY INFORMATION: LEGAL CHINA China s legal market was buoyant in 2014 and will continue to grow in the year ahead. We are seeing particularly strong hiring activity in financial services following the PRC Central Government s successful strategy to increase China s importance in the sector. Notably, interest rates were freed up, the RMB was pushed forward as a major global currency, and the Shanghai and Hong Kong Stock Exchanges were linked. The result for legal hiring is a need for specialists to handle various aspects of increased China-related deal flow, both in-house and private practice, including bilingual Regulatory Lawyers at VP, Senior Counsel or Senior Associate level and above. For all cross-border international legal work, the preference is for attorneys with PRC as well as common law qualifications and offshore education. In non-financial sectors, especially pharmaceuticals and professional services, the clamp down on corruption has stimulated demand for litigation and regulatory specialists. HONG KONG Law firm hiring activity in Hong Kong in 2014 was notably strong in the arbitration & dispute resolution (ADR) and capital markets (CM) practice areas. This pattern should continue this year, and we expect to see particularly high levels of competition for CM talent from firms looking for experienced fee earners. We ll also see flow on demand for in-house CM Lawyers amongst sponsor banks. ADR specialists, across commercial litigation, arbitration and regulatory investigations, will continue to be in demand. Driven by the clamp down in mainland China, increased scrutiny over business practices will create demand for investigations specialists as well as non-contentious regulatory specialists. IN THE COMMERCIAL IN- HOUSE MARKET DEMAND WILL CONTINUE TO INCREASE FOR CANDIDATES WHO ARE HONG KONG-QUALIFIED WITH CHINESE LANGUAGE SKILLS Hays Salary Guide - Asia The focus on regulating traditional markets will continue to force down demand for derivatives, structured products and other investment banking specialists. However, this also means increased demand for specialist Lawyers in alternative financial areas such as fund and asset management, private banking and insurance. In the commercial in-house market demand will continue to increase for candidates who are Hong Kong-qualified with Chinese language skills. Meanwhile, Hong Kong conglomerates are increasingly receptive to junior candidates straight out of law firms to fill in-house roles, although prior in-house experience is still preferred. Higher demand is projected for Property and Construction Lawyers, as well as those with leasing and IT&T industry experience. Changes to the Hong Kong Companies Ordinance in 2014 have created more roles for listed Company Secretaries. With more firms opting to pay Hong Kong Lawyers on the New York scale, salary has become a challenge for cost-conscious in-house employers, where average increments range from three to seven per cent. JAPAN Overall, salary levels for both in-house and private practice legal professionals remained steady in The Japanese government continued to progress with monetary reform late into last year and this work is expected to continue this year. However, the depreciation of the yen has not yet led to expected gross gains for the economy and therefore high demand for imports continue to counter the effects of increased exports. Meanwhile, the 2020 Tokyo Olympics has been slow to attract a high volume of work. Therefore Japanese firms are looking outside the country for assignments, particularly the big four firms which are spearheading overseas expansion in Asian economies such as Singapore and Shanghai. International law firms continue to maintain their recruitment demand for M&A, capital markets and project finance professionals. In the commercial in-house market, Japan s ageing population is leading to increased business activity in the life sciences sector. Growing clinical research organizations, pharmaceutical companies and medical equipment manufacturers and distributors will all recruit. The finance industry will also be active as firms fill legal roles that remained vacant last year. On the compliance side, implementing stricter compliance enforcement is a growing trend. Finally, hiring within IT&T and manufacturing will remain relatively stable. SINGAPORE One of the biggest changes to Singapore s recruitment market in 2014 was the introduction of the Fair Consideration Framework. While this change impacted a range of industries, in the legal sector the ratio of local to foreign professionals remained virtually unchanged thanks to the seemingly endless expansion of MNCs in Singapore. As the legal gatekeepers of an MNC in a growth cycle, employers placed and continue to place high value on legal candidates with international experience and a solid understanding of the global business and legal arena. While such experience can be found in Singaporeans who have studied and worked abroad, the limited supply of such professionals is the reason that the bulk of candidates continue to be foreign. In terms of hiring activity, last year we saw particular growth for legal professionals in Singapore s oil & gas, life sciences, banking and media industries. Within private practice, the hiring of foreign Lawyers, particularly from Indonesia, Vietnam, Malaysia and Thailand, increased. This growth was mainly attributed to the expansion of Singaporean businesses into these jurisdictions, which saw legal practices react accordingly to accommodate the new needs of their clients. Looking ahead, candidates with strong Mandarin skills will be prized, while those with Chinese drafting capabilities will be sought across all industries.

75 LEGAL PRIVATE PRACTICE Paralegal Newly qualified 1 year PQE Hong Kong (International Firm) Hong Kong (NY/US Firm) , ,320 China (International Firm) ,040 Japan Singapore years PQE 3 years PQE 4 years PQE Hong Kong (International Firm) , ,266 Hong Kong (NY/US Firm) 1,044-1,430 1,200-1,630 1,140-1,780 China (International Firm) 620-1, , ,410 Japan Singapore years PQE 6 years PQE 7 years PQE Hong Kong (International Firm) 950-1, ,477 1,047-1,595 Hong Kong (NY/US Firm) 1,595-1,940 1,660-2,050 1,800-2,170 China (International Firm) 900-1,530 1,000-1,620 1,100-1,710 Japan Singapore years PQE Salaried Partner (Junior) Salaried Partner (Senior) Professional Support Lawyer Hong Kong (International Firm) 1,200-1,722 1, , ,200 Hong Kong (NY/US Firm) 1,920-2,320 1, , ,200 China (International Firm) 1,200-1,840 1, , Japan Singapore COMMERCIAL IN-HOUSE 0-3 PQE 4-6 PQE Legal Counsel (7-10+ PQE) Senior Counsel (10+ PQE) General Counsel China , , ,000 + Hong Kong , ,450 1,200 2,200 1,560 3,500 + Japan Singapore FINANCIAL SERVICES IN-HOUSE 0-3 PQE 4-6 PQE Legal Counsel (7-10+ PQE) Senior Counsel (10+ PQE) General Counsel China , ,500 1,000-2,000 1,500-3,000+ Hong Kong 550-1, ,500 1,000-2,000 1,500-2,500 2,000-3,000+ Japan Singapore Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Private Practice Associate salaries stated are generally representative of the total package value Typical benefits on top of In-House salaries shown include performance based bonuses 2015 Hays Salary Guide - Asia 75

76 SALES & MARKETING SALARY INFORMATION: SALES & MARKETING CHINA Recruitment activity and salary levels remained steady in 2014 for most sales and marketing professionals, with the exception of digital marketing and ecommerce. As very active areas of recruitment, the short supply of suitable candidates placed upward pressure on salaries. We will continue to see high demand for these skills in the year ahead, especially for marketing candidates with data experience or a background in consumer insights or market research. Digital advertising and social media now account for a greater portion of marketing spend for most consumer brands and the use of big data is increasingly commonplace. As a result, marketers are expected to know how to use data to identify industry trends, understand customer behaviour, provide consumer insights and pinpoint issues. We have also seen the growth of in-house digital teams in order to create content for online campaigns and work alongside dedicated SEO and data insights teams. It has become more critical than ever for companies to understand the ROI of the marketing spend as well as where, how and when to engage with their customers. In the retail sector, store management professionals responsible for generating revenue are the priority hire for employers. Employers are keen to recruit candidates with both local and overseas experience in retail operations. China s retail sector has been maturing in recent years with consumers prepared to take their business elsewhere if they don t receive the service they want. As a result, candidates with solid CRM experience will remain in solid demand. Job seekers should be prepared for a lengthy process. In 2014 more complicated selection processes became commonplace. While such processes are designed to minimise the risk of a wrong hire, they also lengthen the process significantly. For example, the hiring cycle is often now between six and 10 weeks, while for a management-level role it can be up to six months Hays Salary Guide - Asia HONG KONG Hong Kong remains the preferred location for many businesses to establish their regional headquarters. This generated healthy demand for highly skilled sales and marketing professionals in Digital marketing experts remain in high demand but short supply. Companies are keen to develop their own digital teams and consequently candidates with technical and strategic experience in SEO, CRM, content marketing, online community management, online payment systems and mobile marketing will remain highly sought after this year. In the retail sector, Hong Kong is still the number one shopping paradise with 84 per cent of all luxury fashion retailers present here. Store s are in short supply, forcing employers to hire less experienced candidates and invest in their training and development. We have also seen employers promote Area s to meet business needs. WITHIN FINANCIAL AND PROFESSIONAL SERVICES, EMPLOYERS WANT CANDIDATES WITH SUPERIOR WRITING SKILLS AND INTERNATIONAL CORPORATE EXPERIENCE Given demand, seasoned Retail s are becoming more selective when choosing roles and will consider a brand s sales performance before making a decision. In the FMCG sector we have seen a rise in demand for mid-level candidates, particularly by food and beverage employers. Brand s and Key Account s remain in good demand and to secure higher salaries, candidates have been favouring Principals or Distributors instead of large retailers. Within financial and professional services, employers want candidates with superior writing skills and international corporate experience. However, financial services firms will consider candidates with product marketing or industry knowledge. Finally, law firms favour bilingual candidates with a legal background. Business development candidates remain in short supply. Recruitment activity and salary levels in China remained steady in 2014 for most sales and marketing professionals, with the exception of digital marketing and ecommerce

77 SALES & MARKETING JAPAN As we ve seen in other countries, the main focus from employers has been on digital marketing skills. The greatest demand is coming from companies with consumer brands, which are increasingly focused on profitable growth and are turning to digital marketing as the most effective way to join their online and offline channels to drive sales. They are recruiting social media, data, mobile and content marketing professionals. WITHIN SALES, SPECIFICALLY WITHIN THE IT&T INDUSTRY, BASE SALARIES AND INCENTIVE PAYMENTS FOR SALES PROFESSIONALS HAVE INCREASED Given the shortage of digital talent, competition is fierce between employers. In some cases, we have even seen bidding wars occur at the job offer stage as employers jostle to secure a preferred candidate. As a result, digital candidates can expect bigger salary increases this year, although it must be noted that rising labour costs and shrinking margins are not sustainable long-term. For all other marketing roles, salaries have remained steady. Within sales, specifically within the IT&T industry, base salaries and incentive payments for sales professionals have increased. The highest increases have been applied to the incentive portion of remuneration packages as organizations compete more aggressively for market share. In the industrial sector the maturing of the market has created high demand for sales professionals in the early part of their careers. A dearth of bilingual salespeople with an engineering degree and experience working for an OEM remains the biggest challenge for employers looking to increase headcount. Foreign companies have a particular need for candidates with experience selling through Japan s major engineering, procurement and construction firms. Japanese companies continue to look for bilingual candidates with overseas experience to help them explore business development opportunities overseas. In a final trend, salaries remained largely unaffected by the weakened yen in SINGAPORE We observed a steady flow of recruitment activity across both sales and marketing in The standout industries for activity were industrial manufacturing and retail, partly due to several new organizations and brands choosing Singapore as their regional headquarters. We expect the first half of 2015 to be very active, especially for sales, business development, brand management, and internal communications candidates. Job offers will link potential bonuses and commissions to specific business objectives and achievements. A candidate-short market for niche skills remains in Singapore, but despite this employers are taking a more cautious approach to hiring. This includes making greater use of psychometric testing to ensure a potential hire is a good cultural and job fit. Reference checks for candidates are also increasingly stringent and require 360-degree feedback, including from customers and suppliers. In the consumer sector, global teams and categories have consolidated, resulting in potential reductions in headcount. Companies looking to hire excellent people can now do so while offering remuneration packages near parity since candidates are focusing on long-term career growth rather than a salary increase. Regional recruitment and relocation is a growing trend, with companies across South East Asia looking to Singapore for executives who can provide best practice experience. Companies looking to fill roles in the C-suite in countries such as Cambodia and Myanmar are offering Singaporeans attractive expatriate packages to move, a previously rare practice. These senior roles tend to be in management and marketing, with a focus on new product development. MALAYSIA We saw buoyant recruitment activity for sales and marketing professionals across the board in 2014, with particularly strong demand in the IT&T, media, FMCG and manufacturing industries. In fact, vacancy activity was high throughout the entire year and we expect this to remain the case in the year ahead. A key driver of activity is South East Asia s impressive economic growth and the fact that many companies are setting up businesses in Malaysia to be part of the action. More companies are opening in the country, ranging from start-ups to large established MNC s that previously did not have a strong Asian focus. Despite this activity, sales and marketing salaries will remain fairly steady this year, as they have done in recent years. The Malaysian Government is currently in the process of introducing reforms to shift the entire country into high wage earning territory, but this will take time. While salaries remain steady for the most part, we will see high demand for Brand s, Product s, Sales s, Sales Directors and Digital Marketers. We also expect to see demand for Shopper Marketers, especially in the FMCG space where there has been a shift of focus to consumer marketing as competition gets stronger Hays Salary Guide - Asia 77 SALARY INFORMATION: SALES & MARKETING

78 SALES & MARKETING MARKETING Marketing Director Marketing Marketing Executive China 800-1, Hong Kong 1,000-1, Japan Singapore Malaysia Direct Marketing Channel Global Brand Product/Brand CRM China , Hong Kong , Japan Singapore Malaysia ADVERTISING Group Account Director Account Director Account Account Executive China N/A Media Planner Hong Kong 700-1, Japan Singapore Malaysia Executive Creative Director Creative Director Art Director Copywriter China 1,000-2, , Hong Kong N/A Japan Singapore Malaysia N/A N/A N/A N/A COMMUNICATIONS Marketing Communications Public Relations/ Communications Internal Communications Corporate Communications China N/A Hong Kong 400-1, , , ,200 Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

79 SALES & MARKETING DIGITAL MARKETING Digital/Online Marketing ecommerce Digital Communication/ Content China N/A N/A N/A Hong Kong N/A Japan Web Producer Singapore Malaysia N/A MARKET RESEARCH Market Research/ Consumer Insights Director Market Research/ Consumer Insights Market Research/ Consumer Insights Analyst China Hong Kong 500-1, Japan Singapore Malaysia N/A RETAIL Merchandising Visual Merchandising Service Delivery Category Customer Service Retail China N/A Hong Kong Japan Singapore N/A Malaysia N/A SALES Country Regional Sales Director Sales Director Business Development National Sales Sales Operations China 1,000-2, , , , Hong Kong 1,050-1,500 1,000-2, , , Japan Singapore * * Malaysia * * * * * * Area Sales Sales Advertising Sales Sales Executive Sales Engineer China N/A N/A N/A Inside Sales Hong Kong N/A N/A Japan Singapore * * Malaysia * N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value * With bonus 2015 Hays Salary Guide - Asia 79

80 SUPPLY CHAIN SALARY INFORMATION: SUPPLY CHAIN CHINA The supply chain has been a focus for many organizations in China as they look for efficiencies in the face of declining profits. This has fuelled demand for Sourcing s who can lead cost-down and localization projects. One of the biggest challenges for such professionals has been the need to balance cost with quality. While China is no longer considered a lowcost sourcing option due to rising wage pressure, experienced supply chain candidates do remain in strong demand and those with solid skills and experience can secure their next role. In addition, more Lean and Six Sigma approaches are being implemented into the supply chain. As a result, candidates with sound knowledge of these approaches are in high demand. Within the consumer segment, e-commerce remains strong, while other traditional channels face pressure from growing leasing costs. Given strong online demand, most companies are investing heavily in the distribution channel and therefore candidates with solid experience in distribution network build-up and optimization are in demand. Supply chain salaries are expected to increase slightly compared to last year. China s growing economy and high demand for supply chain talent will contribute to increases in the year ahead. HONG KONG Hong Kong s unique position as a sourcing and supply chain hub for companies operating within Greater China and across the wider Asia Pacific region continues to fuel an active recruitment market and high demand for a broad range of skills. In 2014 hiring activity remained consistent across the majority of sectors and this will continue this year as many industries look to increase the effectiveness of their supply chain operations. The retail, sourcing and pharmaceutical sectors will all continue to actively recruit. Meanwhile demand will rise for supply chain professionals with strong planning and forecasting skills in the manufacturing and consumer goods sectors as companies look to improve the Hays Salary Guide - Asia sophistication of their demand planning and inventory management. This year we will also see increasing demand for supply chain candidates with strong process improvement and optimization skills as organizations continue to review the overall efficiency of their end-to-end supply chain operations and systems. JAPAN Japan s supply chain and logistics market continues to experience healthy and steady growth. The key trend is a focus on specialization as major corporations diversify their supply chains to make a clear distinction between procurement, order management and inventory control. This has resulted in the creation of more jobs and a better command of the SCM process. Another trend is the higher demand for process improvement experts to reduce operational inefficiencies and costs. External consulting companies are also establishing SCM and operations units to meet the needs of the market. As a result, candidates with qualifications in Kaizen, such as Six Sigma, LEAN, and TPS, are in high demand but short supply. We ve also seen an abundance of warehouse and logistics roles created. This is the result of the continuous push from e-commerce and domestic retailers for countrywide, same day delivery. Overall salaries are typically now at the higher end of each range. While they are slightly higher than last year, we are yet to see a total shift in the salaries offered. The demand for higher skilled professionals will however lead to such a shift in the year ahead. SINGAPORE Singapore s supply chain market continues to evolve as a result of the increasing need for more complex regional logistics solutions. Looking firstly at the technical industries, we ve seen an increase in supply chain activity in life sciences and information technology, where employers looked for niche logistics solutions. In most demand have been candidates with project management and solutions based supply chain experience. We ve also seen a growing need for candidates with project management and technology implementation skills as companies establish new operations or look at continuous business improvement. This trend was not limited to life sciences and information technology; it was also seen in manufacturing and FMCG. Within the manufacturing and life sciences industries high demand continues to exist for specialist candidates such as Process Engineers and Project s. As a result, salaries for these professionals have increased. The third party logistics segment is growing. Companies that lack the size or investment in South East Asia to warrant their own warehouse and transport activities are driving this demand. However given the perceived lower salaries on offer in this segment, employers find it difficult to attract and retain suitable candidates. MALAYSIA Activity levels in Malaysia s supply chain recruitment market increased in 2014 and we expect this to continue in the year ahead. Greater competition from China and Indonesia has forced businesses with operations in Malaysia to focus on increasing efficiencies within the supply chain to save costs. This creates high demand for candidates with a strong track record working on large improvement projects (Kaizen, LEAN and Six Sigma methodologies). Another trend of note is the increased demand from service providers for logistics, warehouse and operations professionals. This is the result of both expansions and high attrition rates within the industry, which are factors that will continue throughout the year ahead. Finally, employers in the FMCG industry are unwilling to consider candidates without prior FMCG experience. As a result, the demand for such candidates is very high and salaries have increased above typical market rates for those changing jobs.

81 SUPPLY CHAIN WAREHOUSING/DISTRIBUTION Operations Distribution Transport Warehouse Supervisor China Hong Kong Japan Singapore Malaysia Warehouse Stock/ Inventory Controller China Hong Kong Japan Singapore Malaysia THIRD PARTY LOGISTICS Operations Executive Operations Sea/Ocean Freight Air Freight Key Account China Hong Kong Japan Singapore Malaysia TRANSPORT Operations Transport Transport Coordinator Fleet Fleet Controller China Hong Kong Japan Singapore Malaysia Import/ Export Clerk Trade Compliance 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 are representative of the total package value 2015 Hays Salary Guide - Asia 81

82 SUPPLY CHAIN SUPPLY CHAIN Supply Chain Analyst Supply Chain Supply Chain Planner China Order Fulfilment Hong Kong Japan Singapore Malaysia Demand Planner Materials Logistics Supply Chain Director 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 are representative of the total package value Hays Salary Guide - Asia

83 PROCUREMENT CHINA The overall picture is positive for China s procurement jobs market. Highly-skilled direct and indirect procurement professionals are in high demand, particularly in small and medium-sized organizations that are focused on lowering costs and controlling compliance by standardizing and optimizing internal procurement process. We are also seeing increased demand for indirect procurement candidates as organizations centralize this function. Candidates with experience in various commodities and the ability to perform cost analysis are in greatest demand, and consequently we expect their salaries to increase. Although China s economy is starting to recover, most manufacturing companies remain in a tight situation. As a result, we have seen high levels of candidate movement. Many candidates are even considering jobs in other cities or industries in order to improve their career prospects. Looking at the year ahead, we expect to see a more steady economy and active jobs market for procurement professionals. Salary increases will be given to those with strong technical skills and cost-down ability. HONG KONG In Hong Kong we have seen a tangible increase in hiring activity for midmanagement to senior level procurement professionals across both the direct and indirect disciplines. This is the result of consistently improving macro economic conditions and the continuing focus of employers on controlling costs and sourcing value-driven raw materials. Many organizations are moving towards more aggressive commodity sourcing strategies. With Hong Kong continuing to serve as a sourcing hub for the manufacturing and retail sectors, demand has increased for Procurement s with strong analytical and commercial skills and the ability to provide input into strategic decision making. Hong Kong has also seen a strong increase in demand for indirect procurement professionals with specific category management experience. Candidates with expertise across the IT, human resources and property/facility management categories are highly sought after. We expect the demand for talent to continue in the next 18 months. At the same time, the pool of available procurement candidates will decrease, which will lead to a moderate increase in average salaries. JAPAN Indirect procurement was the key trend in 2014, and will remain a prominent feature of Japan s recruitment market this year. A relatively new position within the Japanese market, companies are beginning to rationalize the return on investment of a solid indirect procurement professional. It is now recognized that such a professional can minimize costs and increase the bottom line. As a result, the demand for bilingual indirect procurement specialists will remain high in all industries. At the same time, we will continue to see a decline in direct procurement hiring as manufacturers lag against international competition, especially in the semiconductor and consumer electronics space. Given the weakening yen, this impacts the purchasing power of companies. This may change if we see a positive impact from government policy and an increase in real growth, and hence production. If this occurs, there will be a significant increase in direct procurement vacancy activity. Salaries are expected to continue to grow in accordance with positive economic factors. SINGAPORE Singapore s procurement market experienced an exciting One of the major drivers of activity was the strong uplift in the number of companies relocating their global procurement headquarters to Singapore. Another was the need for organizations to seek out and relocate global talent to Singapore. While other sectors were reducing the number of foreign hires, procurement was actively recruiting such talent. As the market moves towards more complex sourcing solutions and global models, companies are implementing effective technology solutions to manage their operations. This is most notable within the banking and financial services industry, with demand high as a result for Category s with experience procuring systems relating to front, middle and back office functions. The manufacturing, fast moving consumer goods and life sciences procurement areas all remained stable in Although there were fewer C-suite and senior executive roles available, the demand for experienced middle-management professionals saw salaries increase between 15 and 20 per cent for those who moved jobs. Looking ahead, given that Singapore is an affordable cost base that is close to China and other Asian countries and features an available talent pool, it will remain an attractive hub for procurement operations. MALAYSIA Malaysia s procurement professionals are experiencing a strong market. Demand is greatest for those with international exposure. Candidates with experience working in a Shared Service Centre (SSC) are also highly sought as more international companies utilize the SSC model and choose Malaysia as their preferred location. Another trend to watch will be the increasing number of roles within technical categories. In particular demand will be candidates with experience related to the oil & gas, chemical and power industries. We have already seen an increased number of job opportunities for Buyers and with a number of large projects awarded at the end of 2014, demand will spike in early to mid Given the high demand for skilled procurement professionals, salaries will rise across the board. Having said this, employers are starting to push back by reducing the level of salary increase awarded to staff. This is in response to the high number of candidates who have moved roles frequently over a short period of time Hays Salary Guide - Asia 83 SALARY INFORMATION: PROCUREMENT

84 PROCUREMENT Chief Procurement Officer/Head of Procurement Procurement Category M anager Buyer China 700-1, Hong Kong 1,020-1, Japan Singapore Malaysia Sourcing Director Sourcing Purchasing Director Purchasing China 700-1, , Hong Kong 720-1, , Japan Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

85 EDUCATION CHINA China s education sector has seen dynamic growth in recent times and this year promises to be another big one for recruitment across a wide range of roles, from teachers to business executives. The level of investment across the sector will remain high. As a result, staff will receive both competitive salary packages and development opportunities. In addition, education providers from early childhood centres to tertiary institutions and adult education centres are focused on further developing their suite of products and services to meet growing demand. While some students still seek educational opportunities abroad, China is fast becoming a preferred education destination in its own right. International K-12 school education is leading growth in the sector in line with international trends. Given the increased student demand, vacancies for foreign Teachers are forecast to rise this year. As a result, we expect the already competitive remuneration packages to increase slightly. EMPLOYERS WANT POTENTIAL HIRES TO HAVE POST GRADUATE TEACHING QUALIFICATIONS PLUS EXPERIENCE TEACHING IN A REPUTABLE SCHOOL Employers want potential hires to have post graduate teaching qualifications plus experience teaching in a reputable school. Teachers able to contribute to the development of the values and reputation of a school and its students are held in highest regard in China. Employee benefits include excellent professional development opportunities. Teachers with families can also expect to have their children s schooling provided. Education reforms have paved the way for an increasing number of overseas academic institutions to set up joint campuses with local education providers. This development has seen the creation of a range of roles in areas from program management, admissions and student services to marketing and public relations. Despite the support for the residencybased traditional education model, many educational organizations are also investing in the online delivery of education, which is creating demand for a range of digitally savvy professionals with experience targeting a mass consumer audience. Candidates in demand include those with social media, online sales & marketing, big data and mobile applications expertise. EARLY YEARS/ KINDERGARTEN/MONTESSORI / Head Teacher Deputy Early Years Teacher Academic Principal Administrative Principal China PRIMARY Academic Principal Administrative Principal Admissions & Marketing Mgr/Director Head Teacher Deputy Head Teacher China SECONDARY Head Teacher Deputy Head Teacher Head of Year Subject Specialist Business Director Admissions & Marketing Mgr/Director China UNIVERSITY/BUSINESS SCHOOLS Executive Director/ Dean Career Development Mgr/Director Marketing Mgr/Director Operations Director Program Mgr/Director Student Administration Mgr/Director China 600-1, LANGUAGE LEARNING SCHOOLS Regional Director Centre Director Business Development Marketing Mgr/Director Student Services Mgr/Director Vice President China 600-1, ,000 Salaries are represented in local currencies Typical salary range in 000 Salaries are representative of the base salary only 2015 Hays Salary Guide - Asia 85 SALARY INFORMATION: EDUCATION

86 CONSTRUCTION & ENGINEERING SALARY INFORMATION: CONSTRUCTION & ENGINEERING CHINA China s construction jobs market was employer-led in With fewer large capital investment projects compared to previous years and more people available as projects finished, candidates were willing to accept a rate at the same level or, in some cases, a slight decrease in order to secure their next role. The time candidates spent between jobs lengthened. Looking ahead, construction companies will recruit key professionals such as Project s, Commissioning Engineers who have strong technical skills in HVAC and automation, and Business Development s. The salaries for these professionals are increasing over 10 per cent. Bilingual Engineers will also see improved job opportunities, with salary increases above the average. Similarly to the construction market, China s engineering jobs market is fairly level. In 2014 costs for capital investment projects were controlled and only limited new headcount was added to teams. THERE IS A GREATER USE OF CONTRACT AND TEMPORARY ROLES AS EMPLOYERS LOOK FOR GREATER FLEXIBILITY IN THEIR WORKFORCE Despite this, salaries for top level candidates, such as Project Directors and Senior Project s, increased in response to the shortage of talent with strong technical as well as communication skills. In some specific areas, such as aerospace, pharmaceutical, luxury retail and mixed-use buildings, salaries increased faster than in other areas. At the mid level, salaries stayed the same and candidates now spend a longer time between jobs. However at the entry level Engineers are receiving a salary increase of between 8 and 10 per cent and capable employees are quickly promoted. A final trend of note is the greater use of contract and temporary roles as employers look for greater flexibility in their workforce Hays Salary Guide - Asia HONG KONG Qualified professionals are in demand in Hong Kong s construction market thanks to several factors. Firstly, large civil infrastructure projects are underway and public expenditure remains buoyant to support government plans for new development areas such as the North Eastern New Territories and Tung Chung expansion. These projects have created jobs for chartered Civil Engineers with road, ground and structural backgrounds. Another factor is the increased pressure on the government to drive the delivery of housing units. This has seen the number of invitations to tender for residential developments increase and created job opportunities in both local developers and contractors for Project s to help with feasibility studies and full project planning. Employers continue to offer generous salaries to candidates in demand, particularly qualified Engineers in structural design for complex buildings and infrastructure projects. Salaries for most other talent remain fairly stable. Given the high return on investment in recent years for luxury residential projects, property developers are recruiting Project s with architecture qualifications to plan, design, coordinate and execute large-scale property development projects. Ongoing awareness of environmental protection has led to increasing demand for green buildings. In particular demand are skilled Engineers with expertise in green building design and HK BEAM and LEED qualifications. In a final trend, BIM Engineers with previous modeling experience remain in high demand as employers look to save money by pre-empting later stage conflicts and construction difficulties. In Hong Kong employers continue to offer generous salaries to candidates in demand, particularly qualified engineers in structural design for complex buildings and infrastructure projects

87 CONSTRUCTION & ENGINEERING SINGAPORE Many key projects kept Singapore s construction industry active in Building and civil infrastructure projects dominated the market, and included the MRT and road works projects as well as an array of high-end residential and mixed development properties. During the first half of 2014 there was high competition for Thomson Line contracts. While prices were higher than those previously seen during the award of DTL3, there was still little room for error in tendering and those awarded contracts were predominantly Korean, Chinese and Japanese main contractors. This will result in increased recruitment activity as these companies will need to fill out their project/construction and quantity surveyor/contracts teams at all levels. In particular demand will be candidates who have MRT stations and tunnels experience. In comparison, Singapore s building construction market has fewer MNC contractors as local main contractors have a strong presence and successfully tender and procure for projects. Some major developments were awarded in the later part of 2014, which will create demand for locally experienced Construction s, Project s and Contracts s. In other trends, key job opportunities continue to attract the attention of expatriates with unique site and management skills, such as TBM/Tunnel s and General s. Despite the government s focus on employing Singaporeans, employers continue to select the best person for the job based on experience and qualifications for roles that offer a salary above $12,000. Moving to Singapore s engineering sector, MNC design consultancies with a proven local track record in Singapore and the region have been competing for the MRT and building projects. These companies continue to add new headcount to grow their various departments. We have seen particular growth in the M&E sector, and while this resulted in greater demand for Mechanical and Electrical Engineers, strong tender competition meant that salaries remained the same. In late 2014 we also saw the water sector emerge in Singapore s engineering market. While it is dominated by key firms it has also led to new start-ups and MNCs with successful offshore experiences establishing a presence in Singapore. This is creating demand for Water and Wastewater Engineers, particularly those with local or at least regional experience. The candidate market remains competitive and contractors and engineering consultancies need to act fast and make an attractive offer to secure the right talent. They cannot rely on their brand perception alone as candidates are aware of their market value. However we advise candidates to consider their long-term career rather than moving for short-term salary increases. Employers are now wary of candidates who do not complete their contract term or spend less than two years in a role and often reject them because of their track record. Key job opportunities in Singapore continue to attract the attention of expatriates with unique site and management skills, such as TBM/Tunnel s and General s 2015 Hays Salary Guide - Asia 87 SALARY INFORMATION: CONSTRUCTION & ENGINEERING

88 CONSTRUCTION & ENGINEERING CONSTRUCTION CIVIL Foreperson Site Engineer Project Engineer Design Project China N/A N/A Hong Kong N/A Singapore Senior Project Construction Resident Technical Officer Planner Estimator China N/A Hong Kong 720-1, N/A Singapore Contracts Administrator/ Quantity Surveyor - Entry-level China Hong Kong Singapore Contracts Administrator/ Quantity Surveyor - Senior CONSTRUCTION BUILDING Foreperson Site Engineer Project Engineer Design China N/A Hong Kong N/A Singapore Project Senior Project Construction Planner Estimator China , Hong Kong , , Singapore Contracts Administrator/ Quantity Surveyor - Entry-level China Hong Kong Singapore Contracts Administrator/ Quantity Surveyor - Senior HVAC Engineer MEP Engineer Healthcare Planner China ,000 Hong Kong N/A Singapore N/A CONSTRUCTION DEVELOPMENT Development Project Business Development China Development Director Hong Kong 640-1, ,100 + Singapore Salaries are represented in local currencies Typical salary range in 000 Salaries are representative of the total package value Hays Salary Guide - Asia

89 CONSTRUCTION & ENGINEERING DESIGN CONSULTANCY - BUILDING SERVICES CAD Design Drafter CAD Graduate Design Engineer Design Engineer China N/A N/A Senior Design Engineer Hong Kong Singapore Principal Design Engineer Project Associate/ Principal/ Senior Associate Director Resident Engineer China , Hong Kong ,000 1, Singapore DESIGN CONSULTANCY - CIVIL & STRUCTURAL CAD Design Drafter CAD Graduate Design Engineer Design Engineer Senior Design Engineer China N/A Hong Kong Singapore Principal Design Engineer Project Associate/ Principal/ Senior Associate Director Resident Engineer China Hong Kong Singapore Salaries are represented in local currencies Typical salary range in 000 Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 89

90 ARCHITECTURE SALARY INFORMATION: ARCHITECTURE CHINA Last year s trend of international design firms building up their teams of local designers in China continues. These firms are recruiting the headcount necessary to deliver designs from their local offices in China rather than outsource projects back to their head office abroad. As such, locally based candidates with hands-on in-china experience are sought rather than candidates who act as intermediaries between clients in China and design teams abroad. This trend will continue, although firms will look for candidates with specific experience, such as Designers and Project s with local hands-on experience in retail, hospitality, healthcare, sports facility or research & development lab facilities. Another key trend impacting China s architecture market is the demand for Concept Designers with extensive overseas experience who can fill director level positions. To be considered candidates must also have been working in China for at least three years. In other areas of demand, candidates with at least eight years of experience designing modern hospitals are in heavy demand as the local talent pool is very short. Senior Designers with over 10 years of experience are needed for residential projects, while Designers with experience managing both the design and construction segments of projects in China are also sought. THE HIGH SALARY INCREASES OF THE PAST HAVE COOLED AND ARCHITECTS CHANGING JOBS TYPICALLY NOW RECEIVE AN INCREASE OF APPROXIMATELY 15 PER CENT The high salary increases of the past have cooled and Architects changing jobs typically now receive an increase of approximately 15 per cent. Interior Designers packages are increasing in response to the high demand for candidates who can deliver designs for global retail projects. Interior design roles in the hospitality industry are also available in multiple locations across China Hays Salary Guide - Asia HONG KONG Hong Kong s demand for Architects remained steady in 2014 although employers struggled to identify ideal candidates. One of the key trends was a preference from local practices for Mandarin speaking Architects. While in the past Cantonese was preferred, there has recently been increasing demand for Mandarin language skills as firms bid for lucrative mainland contracts. In order to attract professionally qualified and experienced candidates, firms are more open to individuals who are looking to return to Hong Kong. These candidates must possess suitable language skills as well as the required technical skills and experience. EMPLOYERS SEEKING ARCHITECTS ARE INCREASINGLY OFFERING TO BUY THEM OUT OF NOTICE PERIODS OR INCREASE ALLOWANCES A number of architectural firms have been giving their best employees salary increases above inflation since they are competing with developers in a buoyant market. Residential, corporate and retail development have all helped drive staffing demand. Employers seeking Architects are increasingly offering to buy them out of notice periods or increase allowances. They are also attracting talent by emphasizing the potential scope of their projects. Finally, we ve seen a greater willingness to recruit candidates on a contract basis when demand outstrips the supply of suitable permanent candidates. SINGAPORE Singapore s architecture market remains active. Driven by the public sector, we are seeing continual development ranging from healthcare buildings, schools and additional MRT lines. As a result candidates with relevant project experience are in high demand. The private sector too remains healthy, with larger employers increasingly handling regional projects from their offices in Singapore. As a result candidates with experience working across the region are highly attractive to employers. Local candidates with qualifications recognized by the BOA are in highest demand, but available candidates are in short supply. As projects become more complex with unique design elements or sustainable considerations, demand for Project Architects is also rising. Consultants, contractors and developers all look to recruit such experienced architectural candidates to ensure their projects run smoothly and the design is managed throughout the process. Looking ahead, we will see a continued focus on recruiting at the mid level as candidates look to gain more exposure to a variety of projects and employers look to bulk up their teams. At the senior level we will see rising demand for experienced candidates who have relevant specialization in the particular type of project, such as healthcare or underground train stations. Looking ahead, in Singapore we will see a continued focus on recruiting at the mid level

91 ARCHITECTURE ARCHITECTURE Graduate Architect Architect (2-5 yrs) Architect (5-10 yrs) Associate/ Principal/ Senior Associate Director China Hong Kong ,900 Singapore Graduate Interior Designer Interior Designer (2-5 yrs) Interior Designer (5-10 yrs) Senior Interior Designer Project China Hong Kong Singapore Design Director CAD Drafter Landscape Architect (2-5 yrs) Landscape Architect (5-10 yrs) China Hong Kong 1, Singapore Director Of Landscape Urban Designer (2-5 yrs) Urban Designer (5-10 yrs) Principal Urban Designer China Hong Kong Singapore Salaries are represented in local currencies Typical salary range in 000 Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 91

92 PROPERTY SALARY INFORMATION: PROPERTY CHINA China s property jobs market was very active in 2014, especially for sales and marketing and property development professionals. Both multinational and local developers continue to look for high caliber candidates in these areas with successful track records. Candidates with an existing network in China s property industry and full project lifecycle development experience are most valued by employers and can therefore achieve a higher salary increase. Another key trend is the high number of mixed-used property development projects, which has seen demand increase for Project s. Given demand, employers will offer a competitive salary to talent with relevant experience. We have also seen state-owned developers actively attempting to attract talent with multinational company work experience. Market rate salaries are offered to these candidates. In other trends, employers still prefer to hire local candidates or expatriates with local experience. Meanwhile, we have seen a rapid increase in talent needs in Tier 2 and 3 cities compared to Tier 1 cities. As a result, more candidates are now willing to consider relocation in order to achieve career advancement. HONG KONG Hong Kong s property market remains buoyant with staffing demand evident across the board. Last year s protests within Hong Kong failed to impact mainland visitor numbers and we continue to see significant activity across the corporate, retail and hospitality sectors. In most demand are strong corporate real estate professionals within Hong Kong. Facility s are sought too, and while the move towards outsourcing has limited their salary growth candidates with business continuity planning, critical systems and workplace optimization expertise are in high demand. In other trends, Heads of Corporate Real Estate are increasingly working with more than one vendor since it is more common for facility management, project Hays Salary Guide - Asia management and security to be outsourced to different service providers. CRES professionals with strong commercial acumen and an ability to control costs remain in demand. Over the coming year demand will remain steady for experts within Hong Kong s property industry, especially for Project and Facility s. JAPAN Strong growth fuelled by international investment continues to be a key feature of Japan s property market. Back in 2013 we saw the creation and revitalization of funds but despite this recruitment activity was limited. This changed in 2014, when we saw a huge increase in hiring thanks to Japan s international reputation as a safe investment. As a result, today Japan still leads the way for many core focused investments. Given the significant increase in demand, we are seeing a massive shortage of bilingual candidates at the analyst and associate levels. This is a direct result of the lack of hiring between 2009 and 2012, which limited the number of new professionals commencing a property career. Corporate real estate continues to be an active area. As the value and price of real estate increases, this is a cost center that property organizations cannot ignore. We ve also seen Japan slowly adapt to international standards for corporate real estate management, with both in-house and service models. This is creating demand for junior to mid level outsourced positions in facilities management and corporate services. We are also seeing some increase in the need for mid to senior level corporate real estate professionals as some companies seek to reduce the size of their property portfolio, consolidate office space, or relocate to newer more appropriately sized premises. Project and development services remain areas of growth. New brands are entering the market, leading to a large number of new fit-out projects and the drop of Tokyo s office vacancy rate to below 5 per cent. As a result there is huge demand for talented bilingual Project s. Development services is also becoming more attractive and profitable as Japan s booming construction market taxes an already talent short labor pool. This is driving up the cost of services and candidates. Salaries increased in 2014 and we expect continued increases in the year ahead as the yen weakens and the real estate market continues to expand. SINGAPORE Singapore s property market remains active thanks to the continual development of residential and commercial properties. Many owners and tenants have also undertaken renovations and refurbishments to keep their assets modern and fresh. As a result particular attention has been given to how well these properties perform. In turn this has created demand for strong and experienced Property s, Building s, Operations s as well as leasing and marketing professionals from Junior Executives to Senior s. In contrast, the retail market has been slower. The focus has shifted from the high end and variety to malls, which are attempting to secure big anchor tenants. Given these market conditions candidates are looking to change sectors and thus there is a shortage of suitable candidates for the retail roles that are on offer. Looking ahead, we expect the development of new projects to decrease as prices in the residential market drop and foreign investment cools. Development in nearby emerging markets will instead remain active and developers based in Singapore will capitalise on activity in countries such as Myanmar and Sri Lanka. Corporate real estate will continue to grow and companies will create positions to look after their local and regional portfolios, including Real Estate s, Head of Facilities Management and Head of Projects and Planning. Finally, competition between service providers is intense as companies expand their scope and coverage to provide value added services to win new contracts. This will remain a key feature of the year ahead, and will fuel demand for Account s, Facilities s, Transaction s and Critical Service s.

93 PROPERTY (2-5 yrs) (5-10 yrs) Senior Head of Property Management GM Property Management China Hong Kong ,200 1,250-1,850 Singapore Centre - Retail (5-10 yrs) Centre - Retail (10+ yrs) Facilities - Soft Services (2-5 yrs) Facilities - Soft Services (5-10 yrs) Facilities - Soft Services (10+ yrs) China Hong Kong Japan N/A N/A Singapore Facilities Director (10+ yrs) Leasing (2-5 yrs) Leasing (5-10 yrs) Senior Leasing Leasing Director China Hong Kong ,300 + Japan Singapore Asset (2-5 yrs) Asset (5-10 yrs) Senior Asset Asset Management Director/Head of China Hong Kong ,200 1,200-2,500 + Japan Singapore Property Investment Analyst Property Investment Property Investment Associate Property Investment Director China Hong Kong ,250 1,250 + Japan Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 93

94 PROPERTY Acquisitions Surveyor/ (2-5 yrs) Acquisitions Surveyor/ (5-10 yrs) Senior Acquisitions Surveyor/ Acquisitions Director China Hong Kong ,000 1,000 + Japan Quantity Surveyor - Unqualified (2-5 yrs) Quantity Surveyor - Qualified (5-10 yrs) Senior Quantity Surveyor - Qualified Quantity Surveyor - Qualified Director China Hong Kong Japan N/A Singapore PROPERTY - CLIENT SIDE Project Coordinator Assistant Project Project Senior Project Projects Director China Hong Kong ,200 1,200 + Japan Singapore Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

95 MANUFACTURING & OPERATIONS CHINA China s manufacturing and operations recruitment market remained active in Looking firstly at the FMCG industry, businesses continued to increase their market share in Tier 2 and 3 cities. To ensure they launched new products on time and won new customers, organizations restructured or enlarged their R&D departments and recruited R&D professionals with experience in packaging development and product development, as well as Process Engineers and Consumer Insight s and Directors. Within the electronics products market, competition between original equipment manufacturers (OEMs) became fierce. As a result, OEMs are now considering candidates from other high margin industries such as auto and aerospace in order to gain professional technical knowledge in new fields. Given low profit margins, salaries in electrical manufacturing services (EMS) are lower than in other electronics companies. This impacts the ability of EMS employers to attract good talent. Significant hiring activity took place in the automotive industry, with staffing demand particularly high in the aftermarket. Based on a growing global car fleet and an increasing average fleet age in mature markets, a strong after sales market is also expected this year. This is driven by rapidly growing service demand in emerging markets, where new car sales have increased activity in the aftermarket. In addition, more high-end luxury cars are locally manufactured and customized for China. As a result, experienced Product Development Engineers and Product Test Engineers are in high demand. CHINA S GENERAL AVIATION MARKET IS BOOMING DUE TO THE OPENING OF CHINA S LOW- ALTITUDE AIRSPACE Commercial aircraft OEMs were relatively quiet given the delay of the ARJ21 and C919 projects. Most vacancy activity was focused upon business development and sales professionals in Tier 1 cities, as well as OEM quality and engineering professionals in Tier 2 and 3 cities. In contrast, China s general aviation market is booming due to the opening of China s low-altitude airspace. Sales s and Directors in the business jet and helicopter market are in very high demand, as are sales professionals for all services and products in airports. Within the chemical and materials industries, most companies are under pressure following profit declines. As a result, they are reorganizing their staff or experiencing mergers or acquisition to optimize product portfolios. China s heavy industries, such as steel, cement, nonferrous metals and heavy machinery, are in decline due to Chinese government policy and severe overcapacity. Turnover and redundancies remain high, which creates an oversupply of candidates in the market. Budgets are very strict, and thus salary increases are rare. However in response to declining business volumes, some companies are actively recruiting candidates to help take market share and improve sales orders. JAPAN Various forces are at play in Japan s manufacturing and operations market. On one hand, continuous government easing, the weaker yen and earthquake reconstruction needs have had a positive impact on the sector. However, there were also challenges for employers in the form of the increased consumption tax, energy issues, low consumer spending due to the cold summer, and the falling GDP rate. Despite this environment, manufacturing businesses improved their earnings and invested in capital. Employment activity was also strong. In particular, we saw many job offers in the automotive industry as a result of both increased sales for Japanese auto manufacturers and the development of new projects, such as active safety, new driving support systems including selfdriving, electric vehicles and new fuels. In most demand by Tier 1 auto manufacturers are design, analysis, technology development and quality candidates. Director and Officer level candidates are also sought. Candidates with engineering qualifications, language skills and a solid level of experience receive several offers. Another trend is the willingness of employers to hire foreign candidates with relevant auto experience and both Japanese (above JLPT 2) and English language skills. In addition, more companies are willing to support working visas. This will continue in the year ahead. Another active industry is pharmaceuticals and medical equipment. Demand for suitable talent is high, particularly for Manufacturing Engineers with expertise in lean/improvement, quality control/quality assurance and environment health and safety (EHS). Line Operators are also needed in regional areas. The key challenge for employers is how to attract candidates through the right combination of position, benefits and salary. In terms of staffing demand, we are seeing a high need for lean/process improvement experts such as Process Engineers, Lean s and Process Optimization s. Candidates need to be able to analyze and drive improvement activities throughout the entire value chain and use Six Sigma or other methodologies to improve areas with lowered productivity. Such candidates are valued for their ability to make cost savings and improve an organization s profit structure. As a result, they are in demand across all industries. In the year ahead, employers will focus on recruiting candidates with both English and Japanese language skills in response to the globalization of companies. The demand for higher quality results is also leading some companies to shift production to Japan, further driving the need for bilingual skills. Employers are also expected to focus on the development of their current employees, and we will continue to see an active recruitment market as new talent is secured Hays Salary Guide - Asia 95 SALARY INFORMATION: MANUFACTURING & OPERATIONS

96 MANUFACTURING & OPERATIONS Automobile PRODUCTION Engineer Supervisor Director Vice President China ,000 N/A Japan N/A ENGINEERING Engineer Supervisor Director Vice President China ,000 N/A Japan N/A R&D Engineer Supervisor Director Vice President China ,200 N/A Japan N/A QUALITY Engineer Supervisor Director China Japan SALES & MARKETING Engineer Supervisor Director Vice President China ,200 1,000-2,000 Japan N/A N/A MANAGEMENT ROLES GM CTO COO CEO China 800-1,500 N/A N/A N/A Japan N/A N/A N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

97 MANUFACTURING & OPERATIONS Aviation PRODUCTION Engineer Supervisor Director Vice President China ,000 ENGINEERING Engineer Supervisor Director Vice President China , ,000 R&D Engineer Supervisor Director Vice President China ,600 QUALITY Engineer Supervisor Director China SALES & MARKETING Engineer Supervisor Director Vice President China ,000 1,000-2,000 MANAGEMENT ROLES GM CTO COO CEO China 1,000-2,000 1,200-2,000 2,200-3,500 3,000-4,500 Chemicals & Materials PRODUCTION Engineer Supervisor Director Vice President China ,200 2,000 + ENGINEERING Engineer Supervisor Director Vice President China ,500 2,000 + R&D Engineer Supervisor Director Vice President China ,500 2,000 + QUALITY Engineer Supervisor Director China ,200 SALES & MARKETING Engineer Supervisor Director Vice President China ,000 2,000 + MANAGEMENT ROLES GM CTO COO CEO China 800-2,000 1,500-5,000 2,500-4,000 4,000 + Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 97

98 MANUFACTURING & OPERATIONS FMCG PRODUCTION Engineer Supervisor Director Vice President China ,200 N/A Japan N/A ENGINEERING Engineer Supervisor Director Vice President China ,200 N/A Japan N/A R&D Engineer Supervisor Director Vice President China ,200 N/A Japan N/A QUALITY Engineer Supervisor Director China ,200 Japan MANAGEMENT ROLES GM CTO COO CEO China 800-1,500 N/A N/A N/A Japan N/A N/A N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

99 MANUFACTURING & OPERATIONS Heavy Industry PRODUCTION Engineer Supervisor Director Vice President China Japan N/A ENGINEERING Engineer Supervisor Director Vice President China N/A Japan N/A R&D Engineer Supervisor Director Vice President China ,200 Japan N/A N/A N/A N/A N/A QUALITY Engineer Supervisor Director China Japan SALES & MARKETING Engineer Supervisor Director Vice President China ,000 1,000 + Japan 5-9 N/A N/A MANAGEMENT ROLES GM CTO COO CEO China 1,000-2,000 N/A N/A 1,000 + Japan N/A N/A N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 99

100 MANUFACTURING & OPERATIONS Electronics PRODUCTION Engineer Supervisor Director Vice President China ,200 1,000-1,500 Japan N/A ENGINEERING Engineer Supervisor Director Vice President China ,200 1,000-1,800 Japan N/A R&D Engineer Supervisor Director Vice President China ,300 1,200-2,000 Japan N/A N/A N/A N/A N/A QUALITY Engineer Supervisor Director China ,100 Japan SALES & MARKETING Engineer Supervisor Director Vice President China ,500 1,000-2,500 Japan 5-9 N/A N/A MANAGEMENT ROLES GM CTO COO CEO China 1,000-2,000 1,500-3,000 2,500-3,500 4,000 + Japan N/A N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value Hays Salary Guide - Asia

101 MANUFACTURING & OPERATIONS Machinery/Mechanical PRODUCTION Engineer Supervisor Director Vice President China ,200 1,000-1,500 Japan N/A ENGINEERING Engineer Supervisor Director Vice President China ,200 N/A Japan N/A R&D Engineer Supervisor Director Vice President China ,300 N/A Japan N/A N/A N/A N/A N/A QUALITY Engineer Supervisor Director China ,100 Japan SALES & MARKETING Engineer Supervisor Director Vice President China ,300 1,000-2,500 Japan 5-9 N/A N/A MANAGEMENT ROLES GM COO CEO China 1,000-1,500 2,500-3,500 4,000 + Japan N/A N/A Salaries are represented in local currencies Typical salary range in 000, excluding Japan which is stated in millions Salaries are representative of the total package value 2015 Hays Salary Guide - Asia 101

102 OIL & GAS SALARY INFORMATION: OIL & GAS CHINA China s oil & gas industry experienced consistent growth in 2014, much of it due to Chinese government policy. In the upstream market demand for oil field service companies remained stable. While EPC and other service providing companies continue to support the industry, some have moved their core business to other industries. As a result, recruitment activity and salaries remain stable. In contrast, within the downstream market the production of bitumen and lubricants is booming and full government support for these industries is expected. Downstream salaries will remain stable this year, although employers may offer higher salaries for specialist professionals. We are seeing high demand from oil operation companies for sales and business development professionals at all levels. Competitive remuneration, continuous training and regional responsibility are offered to secure the top talent. Marketing professionals are also sought. Also in demand, but short supply, are experienced and skilled engineering professionals specialising in geology and reservoir with both onshore and offshore knowledge. In order to attract suitable candidates, employers are offering competitive salaries, good training programmes and career progression opportunities. Looking ahead, the market will remain active. China s shipyards will continue to make inroads into the offshore oil & gas and marine markets, while the country s huge unconventional reserves are a largely untapped resource and will be a sector to monitor in the years ahead. SINGAPORE Despite the global price of oil, Asia s oil & gas market continues to grow thanks to multinational corporations targeting the region. Within Singapore specifically, we expect to see continued growth in the shipyards market as employers work on new build projects and convert offshore vessels and production facilities, such as FPSO, FSO and jack-up rigs. This will create demand for Senior Project s, Construction s and Hays Salary Guide - Asia Superintendents with experience delivering major $US150m plus value projects. In greatest demand will be those with FPSO or topside experience. Given the drive to improve efficiencies and reduce costs, we also expect original equipment manufacturers (OEMs) servicing the oil & gas industry to remain relatively strong. We would expect some products such as Downhole tools to experience growth as employers seek to maximise returns from existing assets. Continuing the recent trend, Regional Sales s and Business Development s will remain in demand as the region continues to be targeted by global OEMs to achieve ambitious growth targets. Manufacturing Operations s will also be needed to help achieve growth targets and capitalize on the region s relatively low cost base, ready supply of skilled labour and opportunities in terms of oil and gas resources. THE GOVERNMENT S NEW FAIR CONSIDERATION FRAMEWORK HAS INCREASED COMPETITION FOR LOCAL TALENT IN THE JOBS MARKET, PARTICULARLY FOR ROLES AT THE LOWER SALARY BAND In the background, the Government s new Fair Consideration Framework has increased competition for local talent in the jobs market, particularly for roles at the lower salary band. In addition, an increasing number of visa renewals are being rejected. Consequently demand is high for Singaporeans but there is a finite pool of local candidates with the required skill set. This demand has pushed up the salary expectations of local candidates, further widening the divide between candidates and employers. This is creating immense challenges for employers. On one hand, the softening of the global oil & gas market means employers want to tightly control costs and salaries. On the other hand, local candidates are acutely aware of the demand for their skills and are intent on securing the best salary they can. As a result, we expect salaries for imported workers to remain steady, with perhaps some slight decreases, while salaries for local candidates will continue to steadily increase. MALAYSIA Malaysia has unveiled several major upstream and downstream oil and natural gas projects as part of its strategy to enhance output from existing oil and natural gas fields and advance exploration in deepwater areas. With an active market and consistently high levels of job vacancies in both upstream and downstream markets, salary pressure has increased. Local candidates in particular are acutely aware of the demand for their skills. Some employers continue to resist this pressure and therefore the gap between candidates salary expectations and employers offers has widened. The length of the recruitment process has also increased as employers wait for skilled candidates to become available within their budget. In the upstream area, operators are competing for talented local professionals at the mid to senior management level. Given the shortage of such talent, they will recruit regional or western expatriates who have been living and working in Malaysia. In most demand in the upstream market are Construction s, Project Directors, Senior Project s, Lead & Senior Discipline Engineers, Plant s and Head of Departments. In the downstream market there is a shortage of talented local candidates since many have been working in the Middle East. In greatest demand are experienced professionals involved in the construction phase of projects, including Construction s, Project s, Commercial s, QA/QC s and Lead Design Engineers across all disciplines. Plant Operations s with experience running a refinery plant are also in demand.

103 OIL & GAS Operations & Production GEOLOGIST Graduate Senior Lead China Singapore Malaysia PETROPHYSICIST Graduate Senior Lead China Singapore Malaysia RESERVOIR ENGINEER Graduate Senior Lead China Singapore Malaysia PETROLEUM ENGINEER Graduate Senior Lead China Singapore Malaysia WELL DELIVERY Graduate Senior Lead China Singapore Malaysia DRILLING SUPERVISOR Graduate Senior Lead China Singapore N/A Malaysia PRODUCTION MANAGEMENT Graduate Senior Lead China Singapore Malaysia LOGISTICS Graduate Senior Lead China Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000 Salaries do not include bonuses 2015 Hays Salary Guide - Asia 103

104 OIL & GAS Operations & Production QAQC Graduate Senior Lead China Singapore Malaysia MAINTENANCE Graduate Senior Lead China Singapore Malaysia Project Development PROJECT MANAGER Graduate Senior Lead China Singapore N/A Malaysia N/A PROJECT ENGINEER Graduate Senior Lead China Singapore N/A Malaysia CONTRACTS ENGINEER Graduate Senior Lead China Singapore Malaysia COMMERCIAL MANAGER Graduate Senior Lead China Singapore N/A Malaysia Salaries are represented in local currencies Typical salary range in 000 Salaries do not include bonuses Hays Salary Guide - Asia

105 OIL & GAS Project Development COMMISSIONING ENGINEER Graduate Senior Lead China Singapore Malaysia BUSINESS DEVELOPMENT Graduate Senior Lead China Singapore Malaysia PROJECT CONTROLS MANAGER Graduate Senior Lead China Singapore Malaysia ESTIMATOR Graduate Senior Lead China Singapore Malaysia PLANNER Graduate Senior Lead China Singapore Malaysia PROCUREMENT Graduate Senior Lead China Singapore Malaysia COST ENGINEER Graduate Senior Lead China Singapore Malaysia BID MANAGER Graduate Senior Lead Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000 Salaries do not include bonuses 2015 Hays Salary Guide - Asia 105

106 OIL & GAS Other DISCIPLINE ENGINEERS* Graduate Senior Lead China Singapore Malaysia SUBSEA Graduate Senior Lead Singapore Malaysia PIPELINES Graduate Senior Lead Singapore Malaysia MARINE/NAVAL Graduate Senior Lead China Singapore Malaysia SAFETY ENGINEER Graduate Senior Lead China Singapore Malaysia HSE Graduate Senior Lead China Singapore Malaysia ROV MANAGEMENT Graduate Senior Lead Singapore Malaysia FIELD ENGINEER Graduate Senior Lead China Singapore Malaysia FIELD TECHNICIAN Graduate Senior Lead Singapore Malaysia Salaries are represented in local currencies Typical salary range in 000 Salaries do not include bonuses * Includes Civ/Struct/Mech/Elec/I&E Hays Salary Guide - Asia

107 RECRUITMENT OUTSOURCING SPEAK TO THE EXPERTS At Hays, we are one of the world s leading outsourced recruitment providers, offering end to end recruitment process outsourcing (RPO) and managed service provision (MSP) services as well as modular and on demand solutions. We also offer market leading vendor management systems (VMS) through our subsidiary company, 3 Story Software. These scalable services are designed to offer our clients a competitive advantage in talent acquisition and customer experience, while also effectively controlling cost, risk and quality of hire. Integral to all of our solutions are our professional services and continuous improvement programmes. These include research, insight, market reports, process reviews, employer value proposition development and integrated social and online marketing strategies ensuring our services are continually evolving. We have been providing these services in Asia Pacific for more than 20 years and support clients across the region in a range of sectors. Hays is the region s leading recruitment company, powering the world of work from 48 offices. For your requirements in Asia please contact Robert Moffat on or [email protected] hays.com/talentsolutions

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