Local Salary Levels on the Rise -- Increased Hiring Activity Across FMCG, Retail, Banking and Financial Services Sectors
HONG KONG, Feb. 24, 2010 /PRNewswire-Asia/ -- The Robert Walters Hong Kong Salary Survey 2011 found that the FMCG, retail, banking and financial services sectors were responsible for some of the most significant increases in recruitment activity in the Hong Kong market.
"As the financial services and commerce sectors in Hong Kong recovered from the effects of the global economic crisis amid more buoyant market conditions, there was a marked increase in hiring activities, most notably within the fields of retail, HR, professional services, finance, as well as marketing and communications," Matthew Bennett, Managing Director of Robert Walters Hong Kong said. "As the market continues to recover in 2011, we anticipate continued strong levels of hiring activity. We particularly expect hedge funds and asset management firms to continue expanding and increasingly focus on revenue opportunities in Asia."
"The 2011 survey found that salary levels across many commerce sectors were steadily on the rise as the Asian economy recovered from the financial crisis and salary freezes were eased. In many cases, both contract and permanent candidates were able to command moderate salary increases when moving positions, with salary levels for experienced candidates in the retail and FMCG industries rising by up to 15%."
Compiled by a dedicated research division, the Survey is based on the analysis of permanent, interim and contract placements made across each of the Group's geographies and recruitment disciplines during 2010. In its 12th year, the Survey is the most comprehensive review of global recruitment market conditions and salary levels available.
Some of the top regional findings from the Survey include:
Singapore: In the midst of abundant job opportunities, the Singapore market again experienced a war for talent and companies struggled to retain their top employees. While a number of professionals moved off-shore to take advantage of market growth in China and Hong Kong, the local talent pool remained intact. This was mainly due to an influx of professionals from Asia, Australia and Europe as well as Singapore nationals who returned to the country.
China: Recruitment activity increased in the first half of 2010 and peaked between April and June, before maintaining this momentum during the second half of the year. Salary rises are likely to be around 10% across various industries and roles in China, while top-tier candidates may be able to command increases of approximately 15-30%.
Malaysia: Hiring activity increased at the start of 2010 and maintained throughout the year. We anticipate a surge in recruitment activity due to a number of state and government-initiated projects being implemented. There is a large emphasis on tourism and infrastructure development as the country seeks to continue attracting foreign companies to establish hubs and especially shared services operations in Malaysia.
Thailand: Employers were generally positive in 2010 despite Thai political events and social unrest in the middle of the year, and top-tier candidates became more confident about moving jobs. As the demand for talent remains strong, we anticipate salaries to continue rising in 2011, with a shortage of high quality professionals who are fluent in the English language.
Sector-specific findings for Hong Kong include:
Accounting & Finance
Financial Services (Front Office)
Financial Services (Middle & Back Office)
Human Resources and Business Support
Information Technology
Legal
Sales & Marketing
Supply Chain and Procurement
For more information or to arrange an interview, please contact: Fiona Cheong, Editorial & PR Specialist at +65-6228-5313; fiona.cheong@robertwalters.com.sg or Alfons Chan, Editorial Specialist at +86 (0)21 5153 5888; alfons.chan@robertwalters.com.cn
About Robert Walters
Robert Walters Plc is one of the world's largest professional recruitment consultancies with 43 offices in 20 countries. The Hong Kong office specialises in placing candidates on a permanent or contract basis in the following specialities: accountancy & finance, banking & financial services, legal, business support, human resources, information technology, sales & marketing, supply chain, procurement & logistics.
For more information about Robert Walters Hong Kong, visit www.robertwalters.com.hk
To download the PDF version of the Robert Walters Global Salary Survey 2011, visit www.robertwalters.com/salarysurvey. To view the latest Robert Walters Asia Job Index report, please visit www.asiajobindex.com
Contact:
Fiona Cheong
+65-6228-5313
fiona.cheong@robertwalters.com.sg
Alfons Chan
+86-21-5153-5888
alfons.chan@robertwalters.com.cn