SALARY SURVEY 2013 - Robert Walters Singapore

NANJINGNANJINGACCOUNTING&FINANCEANDHUMANRESOURCESNANJINGACCOUNTING&FINANCEANDHUMANRESOURCESACCOUNTING&FINANCEANDHUMANRESOURCESRobertWaltersGlobalSalarySurvey2013241Ouraccounting&financeandHRdivisionspecialisesinrecruitingmidtosenior-levelprofessionalsformultinationalcompaniesacrossvariousindustries.Someoftheroleswerecruitforincludetreasurydirectors,financemanagers,costingmanagers,accountingmanagers,HRdirectors,HRmanagers,recruitingmanagersandcompensationandbenefitmanagers.MarketOverviewAccounting&FinanceWesawsignificanthiringactivityduringthefirsthalfof2012,particularlywithintheautomotive,FMCG,chemical,pharmaceutical,medicaldevices,mechanical,machineryandequipmentindustries.Somemultinationalcompaniesimplementedgrowthstrategies,whichledtothecreationofnewheadcount.WithNanjingbeingoneofthecoremanufacturingcentresinChina,companiessoughtexperiencedprofessionalsforcontrolrolessuchasfinancialcontrollers,internalauditmanagersandcostingmanagerstohelpcutcosts.AstheglobaleconomicslowdownbegantoaffectChinainthesecondhalfoftheyear,wewitnessedhighturnoverrates.ThiswasparticularlythecasewithintheautomotiveandFMCGindustriesascompaniesincreasedworkloadswithoutincreasingcompensation.Thiscausedmanyemployeestoseekimprovedjobopportunitiesandmostexpectedsalaryincrementsof15-30%whenmovingroles.Professionalsgenerallyreceivedincrementsof25-30%formanagerialrolesand15-20%forsupervisorroles.HumanResourcesRecruitmentlevelsremainedrelativelyhighinthefirsthalfof2012,particularlywithintheautomotive,chemicalandFMCGindustries.WesawasurgeinnewprojectsbeingimplementedinNanjingbyanumberofmultinationalbusinesses,leadingtoanincreaseindemandfortalentacrosstheHRdivision.Nevertheless,HRprofessionalswerekeentotransfertoheadquartersinShanghaiandothercitiestoprogresstheircareers.Asaresult,talentshortageswereincreasinglyevidentintheHRjobsmarketinNanjing.Broaderglobaleconomicuncertaintyimpactedmanyorganisationsfromquarterthreeonwards,withmosthiringoccurringonareplacementbasisinthisperiod.Whenhiring,employersbecameincreasinglycautious,withmanyoptingforinternaltransfersforreplacementstominimisetimeneededfortraining.Althoughcandidateswereoptimisticabouttheirjobprospects,theywereconsciousoftheconservativehiringactivitytowardstheendoftheyearandremainedcautiouswhenlookingfornewopportunities.Theytypicallyexpectedincrementsof20%whenswitchingjobs,whilemarketratesroseby5-12%year-on-year.Outlookfor2013Weanticipaterecruitmentlevelswillincreasein2013duetoincreasedinvestmentintheautomotiveindustryfromforeigninvestors.Professionalswithfinancialcontrollingexperiencearelikelytocontinuetobeindemandacrossallindustries,althoughhiringwithintheFMCGsectorislikelytoprimarilybeonareplacementbasis.Candidateswillbeopentonewroles,withmanykeentomoveintoanewindustrywithgoodgrowthprospects.However,withmostprofessionalsexpectingincrementsofaround20%whenmovingjobs,organisationswillfindattractinghigh-calibrecandidateschallengingduetothebudgetconstraintstheyarecurrentlyoperatingunder.