KGCCI Salary Survey Korea 2012 - AHK Korea
KGCCI Salary Survey Korea 2012 - AHK Korea
KGCCI Salary Survey Korea 2012 - AHK Korea
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<strong>KGCCI</strong> <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
<strong>KGCCI</strong> <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
For Members <strong>KGCCI</strong> only <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
February <strong>2012</strong><br />
- confidential -<br />
- for members only -<br />
© <strong>KGCCI</strong> | 1
Table of Contents<br />
<strong>KGCCI</strong> <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
1 Executive Summary 6<br />
2 Methodology and Questionnaire 8<br />
3 Results 9<br />
3.1 Basic Information 9<br />
3.1.1 Line of Business 9<br />
3.1.2 Number of Employees 10<br />
3.1.3 Ratio of Staff Costs to Sales 10<br />
3.1.4 Retirement Age 11<br />
3.1.5 Share of Women 11<br />
3.1.6 Average Age of Employees 12<br />
3.1.7 Vacation / Sick days 12<br />
3.1.8 HR Recruitment Services 14<br />
3.2 Salaries/Benefits per Position 14<br />
3.2.1 Methodology 14<br />
3.2.2 Overview Results 15<br />
3.2.3 Country Representative 17<br />
3.2.4 Senior Sales Manager 21<br />
3.2.5 Junior Sales Manager 25<br />
3.2.6 Finance Manager (not CFO) 28<br />
3.2.7 Accountant (CPA) 31<br />
3.2.8 Accountant (Standard) 33<br />
3.2.9 Executive Assistant 35<br />
3.2.10 Senior Technician 38<br />
3.2.11 Junior Technician 42<br />
3.2.12 Driver 45<br />
3.3 <strong>Salary</strong> Adjustments in <strong>2012</strong> 48<br />
3.3.1 Increase 48<br />
3.3.2 Decrease 54<br />
3.3.3 Bonus 54<br />
3.3.4 Reasons for <strong>Salary</strong> Adjustment 60<br />
3.4 New Employees 61<br />
© <strong>KGCCI</strong> | 2
List of Figures<br />
<strong>KGCCI</strong> <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
Figure 1: Line of Business 9<br />
Figure 2: Number of Employees 10<br />
Figure 3: Ratio of Staff Costs to Sales 11<br />
Figure 4: Share of Women 12<br />
Figure 5: Payout for Vacation Days not Taken by Employees 13<br />
Figure 6: Deduction of Sick Days from Vacation 13<br />
Figure 7: Recruitment Services 14<br />
Figure 8: Retirement Arrangements 17<br />
Figure 9: Country Representative - <strong>Salary</strong> 18<br />
Figure 10: Country Representative - Personnel Responsibility 19<br />
Figure 11: Country Representative - Seniority 19<br />
Figure 12: Country Representative - Company Car 20<br />
Figure 13: Country Representative - Other Benefits 21<br />
Figure 14: Senior Sales Manager - <strong>Salary</strong> 22<br />
Figure 15: Senior Sales Manager - Personnel Responsibility 22<br />
Figure 16: Senior Sales Manager - Seniority 23<br />
Figure 17: Senior Sales Manager - Company Car 24<br />
Figure 18: Senior Sales Manager - Other Benefits 24<br />
Figure 19: Junior Sales Manager - <strong>Salary</strong> 25<br />
Figure 20: Junior Sales Manager - Seniority 26<br />
Figure 21: Junior Sales Manager - Company Car 27<br />
Figure 22: Junior Sales Manager - Other Benefits 27<br />
Figure 23: Finance Manager (not CFO) - <strong>Salary</strong> 28<br />
Figure 24: Finance Manager (not CFO) - Personnel Responsibility 29<br />
Figure 25: Finance Manager (not CFO) - Seniority 29<br />
Figure 26: Finance Manager (not CFO) - Company Car 30<br />
Figure 27: Finance Manager (not CFO) - Other Benefits 31<br />
Figure 28: Accountant (CPA) - <strong>Salary</strong> 32<br />
Figure 29: Accountant (CPA) - Seniority 32<br />
Figure 30: Accountant (CPA) - Other Benefits 33<br />
Figure 31: Accountant (Standard) - <strong>Salary</strong> 34<br />
Figure 32: Accountant (Standard) - Seniority 34<br />
Figure 33: Accountant (Standard) - Other Benefits 35<br />
Figure 34: Executive Assistant - <strong>Salary</strong> 36<br />
Figure 35: Executive Assistant - Seniority 36<br />
Figure 36: Executive Assistant - Company Car 37<br />
© <strong>KGCCI</strong> | 3
<strong>KGCCI</strong> <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
Figure 37: Executive Assistant - Other Benefits 38<br />
Figure 38: Senior Technician - <strong>Salary</strong> 39<br />
Figure 39: Senior Technician - Personnel Responsibility 39<br />
Figure 40: Senior Technician - Seniority 40<br />
Figure 41: Senior Technician - Company Car 41<br />
Figure 42: Senior Technician - Other Benefits 41<br />
Figure 43: Junior Technician - <strong>Salary</strong> 42<br />
Figure 44: Junior Technician - Seniority 43<br />
Figure 45: Junior Technician - Company Car 44<br />
Figure 46: Junior Technician - Other Benefits 44<br />
Figure 47: Driver - <strong>Salary</strong> 45<br />
Figure 48: Driver - Seniority 46<br />
Figure 49: Driver - Overtime Payment 47<br />
Figure 50: Driver - Other Benefits 47<br />
Figure 51: Country Representative - <strong>Salary</strong> Increase 48<br />
Figure 52: Senior Sales Manager - <strong>Salary</strong> Increase 49<br />
Figure 53: Junior Sales Manager - <strong>Salary</strong> Increase 50<br />
Figure 54: Finance Manager (not CFO) - <strong>Salary</strong> Increase 50<br />
Figure 55: Accountant (CPA) - <strong>Salary</strong> Increase 51<br />
Figure 56: Accountant (Standard) - <strong>Salary</strong> Increase 52<br />
Figure 57: Executive Assistant - <strong>Salary</strong> Increase 52<br />
Figure 58: Senior Technician - <strong>Salary</strong> Increase 53<br />
Figure 59: Junior Technician - <strong>Salary</strong> Increase 53<br />
Figure 60: Driver - <strong>Salary</strong> Increase 54<br />
Figure 61: Country Representative - Bonus Increase 55<br />
Figure 62: Senior Sales Manager - Bonus Increase 56<br />
Figure 63: Junior Sales Manager - Bonus Increase 56<br />
Figure 64: Finance Manager (not CFO) - Bonus Increase 57<br />
Figure 65: Accountant (CPA) - Bonus Increase 57<br />
Figure 66: Accountant (Standard) - Bonus Increase 58<br />
Figure 67: Executive Assistant - Bonus Increase 58<br />
Figure 68: Senior Technician - Bonus Increase 59<br />
Figure 69: Junior Technician - Bonus Increase 59<br />
Figure 70: Driver - Bonus Increase 60<br />
Figure 71: Reasons for <strong>Salary</strong> Adjustment 61<br />
Figure 72: Bonuses for Graduates 62<br />
© <strong>KGCCI</strong> | 4
List of Tables<br />
<strong>KGCCI</strong> <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
Table 1: Overview of Average Monthly <strong>Salary</strong> and Bonus for 2011/12 16<br />
Table 2: Monthly Starting Salaries for Bachelor and Master in <strong>2012</strong> 62<br />
© <strong>KGCCI</strong> | 5
1 Executive Summary<br />
<strong>KGCCI</strong> <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
After two editions with very positive feedback, <strong>KGCCI</strong> now realized its third consecutive<br />
salary survey on local employees. Aim is to provide practical information to our members and<br />
also to give orientation for upcoming human resources issues.<br />
An improved questionnaire was sent to around 300 members with offices in <strong>Korea</strong> fitting into<br />
the survey’s participation criteria. Exceeding last year’s quota, a total of 34 companies gave a<br />
feedback, therefore reaching a response quorum of over 10%. Due to recommendations by<br />
last year’s participants, <strong>KGCCI</strong> adjusted its survey. We canceled the positions of<br />
“Administrative Assistant” and “Junior Assistant” whereas “Sales Manager” was divided into a<br />
Senior and a Junior position.<br />
Findings in <strong>KGCCI</strong>’s <strong>2012</strong> <strong>Salary</strong> <strong>Survey</strong>:<br />
<strong>Salary</strong><br />
o In <strong>2012</strong> companies continue to increase salaries, whereas bonus payments<br />
tend to stay at the same level. Employees’ individual performance, the<br />
company’s economic situation and inflation adaptation remain the most<br />
crucial reasons for salary adjustments.<br />
o Compared to last year, there was a drastic drop of contractual fixed bonuses.<br />
This is an indication of more performance-based payments that can be<br />
adjusted individually.<br />
o Employers offer a broad range of both mandatory and additional benefits, in<br />
particular further training and education.<br />
o <strong>Salary</strong> spreads between bachelor and master degrees are still marginal and<br />
HR Development<br />
diminishing. Likewise, there are no significant discrepancies between<br />
different majors, yet technical and business qualifications are better paid.<br />
Different from last year, this time a big majority of recently hired junior<br />
employees received a bonus in their first year already.<br />
o Companies seem upbeat about the outlook for <strong>2012</strong> as they are investing<br />
more in their staff and recruiting new employees.<br />
o Most companies apply several methods for recruiting new employees. Mostly<br />
used are online job-markets, executive search firms and in-house<br />
recommendations.<br />
o Amicable terminations and natural fluctuation are the most common reasons<br />
for contract terminations.<br />
© <strong>KGCCI</strong> | 6
Staff<br />
o Male/Female employees are on average 39/33 years old.<br />
o Women represent 30% of the total workforce.<br />
<strong>KGCCI</strong> <strong>Salary</strong> <strong>Survey</strong> <strong>Korea</strong> <strong>2012</strong><br />
o Official retirement age is mostly 60 years. However, actual retirement<br />
average is four years earlier.<br />
o Still most of the companies do not pay out vacation days as an official policy.<br />
Statistical Sample<br />
Also a majority deducts sick days from vacation.<br />
o Again in <strong>2012</strong> the automotive/supply as well as the machinery/equipment<br />
sector represent the largest group among participants.<br />
o More than half of the participants employ 6 to 50 staff.<br />
o Ratio of staff costs to sales is 13.2% on average.<br />
My thanks for the organization of this valuable survey go to <strong>KGCCI</strong> Deputy Secretary<br />
General, Mr. Carsten Lienemann, and the whole Marketing Research Division, especially Mr.<br />
Philipp Olbrich.<br />
Jürgen Wöhler<br />
<strong>KGCCI</strong> Secretary General<br />
© <strong>KGCCI</strong> | 7