2011 salary survey shows who earns what: Robert Walters

The Hong Kong job market remained robust despite financial crisis and Robert Walters reveals who earns what.

According to Robert Walters, Hong Kong experienced quarter-on-quarter growth in 2010 with recruitment levels remaining high in line with the Asia region’s strong economic recovery. The financial services industry rebounded quickly and Hong Kong saw strong recruitment activity across both the front office and support functions in the first half of the year. Hong Kong witnessed increased hiring levels in the commercial sector during the second half of the year, where Hong Kong saw specific demand for infrastructure roles to support revenue-generating functions.

Hong Kong saw greater demand for middle management roles as organisations sought talent with the ability to add value to their organisations, gain market share or differentiate their businesses from competitors. Hong Kong also saw a number of internal promotions, which created additional vacancies within the middle management space.

Candidates with specific middle management experience were therefore highly sought-after and were more confident in looking for new jobs. As firms sought to retain their best people, professionals were also more likely to be promoted internally or offered salary increments – incentives that were, for the most part, put on hold during the global financial crisis.

As the market continues to recover in 2011, Robert Walters anticipates continued strong levels of hiring activity. Robert Walters particularly expects hedge funds and asset management firms to continue expanding and increasingly focus on revenue opportunities in Asia. However, there remains a sense of cautious optimism in the market in the face of troubled US and European economies.

Robert Walters anticipates higher demand for revenue-generating roles within the financial services and commercial industries. Candidates with skills in legal, compliance, regulatory reporting and roles requiring specific product knowledge (such as product control positions within the equities space) will continue to be highly sought-after. Robert Walters also expects demand for marketing positions to continue as companies look to hire professionals able to differentiate them from their competitors.

As firms proceeded with cautious optimism, Hong Kong witnessed a continued commitment to using contractors as a flexible resource management solution. Contract demand surged during the financial crisis as organisations enforced permanent headcount restrictions. While the majority of these restrictions were lifted during 2010, many organisations across the financial services and commerce sectors still chose to hire on a contract basis in the first instance before making a permanent appointment. Robert Walters expects this trend to continue well into 2011. 

Click here to view the 2011 Hong Kong Salary Survey

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Tags: Hong Kong hiring 2011, Hong Kong recruitment 2011, Hong Kong contract basis