SALARY SURVEY 2013 - Robert Walters Singapore

Although economic growthremained conservative in HongKong in 2012, numerous IT,infrastructure and constructionprojects were implementedduring the year, which led toa number of job opportunitiesbeing created in the process.In particular, systems andapplication support professionals,project managers, programmersand system architects were hired.The financial services sector wasimpacted by challenging globalmarket conditions and job levelsremained relatively low throughoutthe year. However, there weresome encouraging signs in thefront office space, where bankssought corporate bankers intrade finance and supply chain,private bankers and salesprofessionals in the consumerbanking and insurance sectors.Retail and tourism-relatedcompanies were also impactedby difficult market conditionsand a short-term decrease inconsumer confidence.As the local property marketstabilises and China’s growthrate remains high, we expectan improvement in Hong Kong’sservice-driven sectors during2013. However, as globaleconomic uncertainty continues,recruitment levels are likely to berelatively low at the start of theyear before increasing in quartersthree and four. Cost will continueto be a key priority for employers,with existing staff taking on moreresponsibility as firms seek tokeep their operational costslean. We expect this will impacton companies’ hiring processes,with stringent approval processesput in place and candidatesexpected to possess the majorityof the skill sets required foreach role.Attracting and retaining talentis likely to be a key challenge foremployers in 2013. When lookingfor new opportunities, job seekerswill seek stability, a clear careerpath and a company withprojected growth. For their part,employers are likely to offer jobrotation opportunities as theyseek to keep their best employees.HONG KONGWith profit margins falling in anumber of organisations as pooreconomic performance continuesin the US and Europe, weanticipate a marked decreasein annual bonus payouts withinthe Hong Kong market. However,salary levels are likely to remainconsistent for 2013.Robert Walters Global Salary Survey 2013 2012