SALARY SURVEY 2013 - Robert Walters Singapore

After a relatively strong year in2011, the Chinese economy didnot remain immune to the effectsof prolonged global economicuncertainty and hiring levelsvaried considerably by sectorthroughout 2012.Banking and financial servicesfirms were most affected byglobal market conditions. Whilethese employers were keen toincrease profitability and hiresales professionals, they werealso required to minimise costsand, in some cases, weresubject to headcount freezes.Despite the uncertainty, affluenceand disposable income levelscontinued to increase acrossChina leading to growth withinthe retail, luxury and FMCGindustries. Although many ofthese organisations were scalingback expansion plans, therewere still a number of internationalbrands expanding to Tier 2 andTier 3 cities, resulting in particulardemand for sales, HR, training,business development andleasing professionals. In addition,technology companies also grewsteadily due to an influx of foreigninvestment into China, anddemand increased as a resultfor IT professionals with crossregionalexperience, programmersand business analysts who couldsupport expanding businesses.However, most recruitmentactivity throughout 2012 waslargely replacement-focusedas employers concentrated onreducing costs. As companiessought to ensure that theyhired only the best candidates,we also saw an increasingtendency to implementpsychometric testing duringthe recruitment process.With the economic environmentchallenging, salary incrementsfor professionals who moved jobswere generally lower than previousyears. Specifically, candidatestypically received increasesof 15-20% when changing rolesin 2012 (compared to 15-30%in 2011). However, strongperformers received as much asa 40% increase in some cases.As international organisationsfocused on localising theirChinese businesses, demandfor Westernised talent reducedthroughout the year. Instead,candidates from Hong Kong,Taiwan, Singapore and Malaysiawere preferred for their Mandarinlanguage skills and ability toadapt to the local culture.As the economy showed signs ofrecovery at the end of 2012 withimproving manufacturing activity,multinational conglomerates arelikely to continue to invest in Chinamoving into 2013. While we expectthis to lead to new positions beingreleased, organisations will remaincost-conscious and as a resultwill seek local candidates –along with professionals fromHong Kong, Singapore, Malaysiaand Taiwan – to fill positionsvacated by expats.With organisations continuingto seek high-calibre candidates,attracting and retaining the besttalent will be a key challenge.Although most job seekers werepreviously primarily motivatedby salary increments, careerdevelopment is becomingincreasingly important. As China’sprojected GDP exceeds 8% andincreased consumer inflation isalso anticipated, salary levels arelikely to grow in 2013. As a result,we expect candidates to receiveincrements of between 15-25%when moving jobs.CHINARobert Walters Global Salary Survey 2013 2012