Hays 2021
Hays 2021
Hays 2021
Welcome Note 3
Recommendations 94
Employers 96
Employees 98
Agensi Pekerjaan Hays (Malaysia) Sdn Bhd (Company Registration No: 955738-T)
EA License Number: JTKSM 229C (KLCC), JTKSM 229C-1C (SUNWAY)
METHODOLOGY
Our survey was conducted from October to November 2020 with a representative sample of n= 9660. The survey
was conducted online in English, Chinese and Japanese.
Thank you
We would like to express our gratitude to all organisations which have participated in the collection of data for this year’s
guide. Your contribution has ensured that we can produce an informative publication to help support your business decisions.
Disclaimer: The Hays Salary Guide is representative of a value-added service to our clients and candidates. Whilst every care is taken in the collection and
compilation of data, the guide is interpretive and indicative, not conclusive. Therefore, information should be used as a guideline only and should not be
reproduced in whole or by section without written permission from Hays.
WELCOME NOTE
WHILST THE TRUE LEGACY OF 2020 IS AS YET UNKNOWN,
WE CAN LOOK FORWARD WITH HOPE AND BUILD TOWARDS
A BETTER FUTURE IN 2021
In my introduction last year I noted from out of the woods and the future
that 2020 was a year for organisations of some sectors is still uncertain, so
to just focus on things that they could we anticipate little real salary growth
control. While that now seems in the next twelve months. But, with
prescient, no one could have foreseen economic sentiment now positive in
quite how little control anyone would Asia and forecast being upgraded,
have over the twelve months that pleasant surprises rather than nasty
were to come. The world has been shocks may be more likely towards
disrupted as few could ever have and the end of the year and beyond.
although the crisis is still peaking in
many countries, we can now see As for candidates, it is notable that a
recovery, with Asia to the fore and lack of career progression is adding
perhaps ahead of the curve on the impetus to their search for new roles,
return to growth. and with salary growth less likely in
the coming twelve months, 2021 may
Recruitment volumes inevitably fell as be the year when more jobseekers
a result of both the economic impact put remuneration considerations to
of the pandemic and of the restrictions one side and focus instead on career
it enforced. But business has learned a development. As such, it will be
lot these past twelve months and imperative that they stand out in the
innovation in recruitment, as in many competitive marketplace, targeting
other functions, has blossomed. resilient industries as well as those
Recruiters and HR functions have organisations that are restructuring
demonstrated that the complete due to a desire for a more flexible
recruitment lifecycle can take place workforce, particularly concentrating
remotely, with candidates applying for on changing skillsets and experience
and then starting new roles without in digital transformation.
ever having physically met anyone
from their new employer or indeed Because, although it could be argued
setting foot in their premises! that 2021’s positive predictions may not
seem altogether impressive when
Whilst of course there has been compared with previous years, when
massive impact on employment in seen through a prism refracted by the
certain sectors – travel, hospitality, uncertainty of the year before, there
retail to name the hardest hit, there should be enough hope to see 2021 as
have been positives in other areas. The upbeat. Perhaps not the year that will
rapid acceleration in transition to wash away the memory of a truly
online living has created significant job drastic 12 months, but one during which
growth in platform businesses and Asia can regroup, restructure, transform
e-commerce, whilst healthcare and life and look to the future beyond.
sciences are other obvious sectors that
have seen increased demand for staff. Richard Eardley
Managing Director Asia
Despite these positives, salaries have
been impacted and although there
are areas where salaries levels have
held up, overall they are down and
bonuses are much reduced compared
to previous years. Sentiment is weak
for 2021, unsurprising given we are far
2021
HAYS ASIA SALARY GUIDE
SURVEY FINDINGS
In early 2020, companies and employees alike Retrospective views show the limited impact of the
foresaw a year of global economic slowdown, worldwide pandemic
reduced compensation packages and measured The pandemic that swept the globe caused unprecedented
hiring. With hindsight, no one could have disruption to Asia’s recruitment market. However, as 2021 begins,
companies have taken the opportunity to reflect and they have
predicted the annus horribilis that was to come,
MARKET OVERVIEW & TRENDS
50%
Organisations said their revenue was hardest
hit as a result of the pandemic
Least impacted were companies in China, which saw the highest While recruitment should stall early in the year, optimists
proportion answering ‘neutral’ in all metrics, bar only ‘ability to may see positivity in headcount possibilities
deliver projects’, in which only Hong Kong (60 per cent) was more
neutral, though by a single percentage point. Additionally, China Candidates looking to increase their earning potential found their
also had the most companies stating that ‘business development opportunities in the job market significantly depleted over the
opportunities’, ‘growth’ and ‘employee morale’ (27, 25 and 17 last twelve months. Permanent staff levels increased at only 29
per cent) were positively impacted. Singapore claimed the most per cent of employers, while 30 per cent reported downsizing, a
positive results in ‘productivity’, ‘revenue’ and ‘innovation’ (22, stark difference from the 43 and 22 per cent of the year before.
22 and 37 per cent), while Malaysian companies saw mixed This may not improve in some areas over the coming months, with
results, being the most positive about ‘ability to deliver projects’ nine per cent of companies signalling a three-month hiring freeze,
at 24 per cent, and only one point behind China in ‘business 16 per cent pausing recruitment for six months and an additional
development opportunities’ (26 per cent), though jointly most 17 per cent of businesses freezing hiring indefinitely, with Malaysia
negative in ‘revenue’ and ‘employee morale’ at 54 and 43 per cent the most prominent in all options (ten, 21 and 21 per cent).
respectively. Japan fared the worst, posting the most negative
results for all barometers.
This overall neutrality is also borne out in activity over the course The percentage of companies that will freeze hiring for
of the year, with 55 per cent stating that business activity had
49%
To make matters worse, it appears that candidates are developing
soft skills (53 per cent) as opposed to the hard skills that 59
per cent of companies say that they are short of, and these are
Employees who have indicated they will stay especially required in Malaysia and Singapore (68 and 67 per
with their current employer in 2021 due to cent). The hard skills most important to companies are technical
their salary package (67 per cent), which is likely related to the digitalisation drive in
industries across Asia. Fortunately, businesses are more confident/
very confident that they will acquire the necessary skills than
ever before (58 per cent, up from 55 per cent in 2019), though
this could be a recognition that there is an increased number of
candidates available in the market.
A brighter future than could have been anticipated,
though caveats still apply
In 2021, the shadow of the unprecedented year prior will hang
heavily, yet there is a vestige of light on the horizon. Some 55 per
cent of businesses expect activity to increase, and more foresee a
strengthening of the local economy in 2021 (33 per cent) than they
did the year before (21 per cent). While these are by no means
bullish figures, nor are they indelibly inked with pessimism. And
once global economies recover and recruitment freezes lift, there
is scope for a cautious confidence. As they say, things are often
darkest before the dawn.
2021 SALARY POLICY • SALARY CHANGES
DURING THE LAST 12 MONTHS, HOW HAVE YOUR EMPLOYEES’ SALARIES CHANGED?
35% 6%
Stayed the same Decreased
25% 23% 8%
Up to 3% From 3% to 6% From 6% to 10%
3%
More than 10%
37% 4%
Stay the same Decreased
29% 22% 6%
Up to 3% From 3% to 6% From 6% to 10%
2%
More than 10%
Last 12 Next 12 Last 12 Next 12 Last 12 Next 12 Last 12 Next 12 Last 12 Next 12
months months months months months months months months months months
No change30% 23% 38% 42% 38% 35% 33% 42% 36% 42%
Decreased 6% 3% 7% 4% 3% 3% 7% 5% 6% 4%
Up to 3% 12% 18% 27% 31% 35% 43% 21% 21% 31% 32%
From 3% to 6% 32% 39% 18% 13% 17% 16% 28% 24% 17% 18%
From 6% to 10% 15% 14% 6% 6% 5% 2% 7% 5% 6% 3%
More than 10% 5% 3% 4% 4% 2% 1% 4% 3% 4% 1%
BONUSES WILL BE OFFERED IN 2021 AS PART OF THE OVERALL REMUNERATION PACKAGE
55%
Yes
15%
No
7%
Yes but for less
18%
Yes but for
5%
We do not offer
staff than previously lower amounts bonuses as part of our
than previously remuneration package
HAS YOUR ORGANISATION IMPLEMENTED A HIRING FREEZE FOR 2021 AND IF SO, HOW LONG IS IT IN PLACE FOR?
17%
29%
of employers across Asia increased staff
levels in 2020
16%
Yes, indefinitely
58%
9%
Yes, at least for the
first six months of 2021
Yes, at least for the
36%
of employers across Asia will increase
first three months of 2021 permanent staff levels in 2021
There is no hiring
freeze in place
29%
Of employers will only
60%
Use of contract staff will
38%
Will recruit contract staff
36%
Are looking for contract
recruit contract staff in remain the same in 2021 to meet peaks in demand staff to bring ‘technical
exceptional circumstances skills’ to their organisation
59%
of employers are favoring ‘hard’ over
‘soft’ skills in the recruitment of new
employees in 2021
WHEN RECRUITING NEW STAFF IN 2021, WHICH OF THESE SKILLS ARE IMPORTANT TO YOU
SOFT SKILLS
MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS & ECONOMIC OUTLOOK
HARD SKILLS
58%
When it came to skill shortages, respondents told us
55%
Have the talent
85%
Skill shortages hamper
36%
Lack of learning are confident they will
needed to achieve the effective operations of & development be able to recruit candidates
business objectives their organisation opportunities is the
main reason behind with the skills needed to meet
skill shortages in their their needs
organisation
58%
said a ‘requirement for a
more flexible workforce’ is
the main driver
51%
of organisations are
restructuring their departments
to keep up with changing
business needs
Business/economic perspectives
55%
said business activity
55%
said activity levels will
33%
said their local economy
increased in the increase in the next year will strengthen in the next
last 12 months 6-12 months
Innovation/
creativity 32% 36% 30% 34% 37%
Revenue/profit 23% 48% 54% 54% 49%
Positive
Negative
28% 4%
Stay the same Decreased
19% 17% 14% 18%
Up to 3% From 3% to 6% From 6% to 10% More than 10%
29% 24%
In the past year, have you received a pay cut or demotion? In the past year, have you asked for a pay rise?
No Yes successfully
37% 55%
Do you expect to receive a raise or promotion in the next year? If eligible, did you receive your bonus(es) in the last year?
Yes Yes
36%
Yes
44%
No, but I’m open to
20%
No
new opportunities
If you aren’t looking to move, what makes you want to stay with your current employer?*
46%
Very good/good
37%Average
17%
Poor/very poor
53%
The amount of hours
enhancing professional
skills outside of their job
36%
said they have developed their
‘soft skills’ in the last year
• Please note all salaries are representative of the total package value
ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE
Malaysia is one of the world’s best- will make it paramount for financial
renowned destinations for shared service services firms to prioritise projects that are
hubs, and although the 2020 demand did prepared to combat regulatory changes,
not quite reach the heights predicted at and as a result, candidates with strong
the start of the year, it remained steady in technical knowledge and an ability to
the face of the global pandemic. In 2021, it interpret the new standards and assist in
should once again provide huge candidate roll outs will be in demand.
demand as an increased emphasis on cost
Other issues of the regulatory kind
and advancements in technology make the
concern MAS requirements and the latest
shared service model an even more
IFRS changes, and individuals adept in
attractive proposition for large
projects that ensure that companies do
corporations.
not fall foul of these regulations will be
Technological progress is also proving hugely important in 2021. Consequentially,
disruptive in other areas of the finance candidates are encouraged to attend
world, as the increasing impact of refresher courses to keep themselves up
automation will drive a substantial to date with the latest changes.
demand for tech-savvy finance
FINANCE PROFESSIONALS AS
professionals who are skilled in process
COMMERCIAL BUSINESS PARTNERS
automation and are able to dovetail
finance and IT functions. While this is yet 2020 saw numerous shared services
to directly result in increased salary levels, moving abroad to The Philippines,
it is a key proficiency differentiator in an Malaysia and India. However, this trend will
increasingly competitive job market and is be counterbalanced in 2021 by companies
quickly becoming an essential requirement noting Singapore’s potential as a regional
for any modern accountant. accounting hub, establishing regional
finance headquarters in the city state. This
REGIONAL TAX PROFESSIONALS TO SEE
is positive news for individuals proficient
THE BIGGEST GAINS
in supervising, reviewing, and managing
The pandemic caused an increase in the overseas junior employees.
supply of candidates on the market, and
Singapore’s status for financial ingenuity
as such salaries have remained relatively
can be further noted in how employers will
steady over the last year, with the notable
turn to finance professionals as business
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies • SME - Small to medium enterprise
• MID - Medium to large
• MNC - Multinational companies
NOTES
• Salaries are represented in local currencies • SME - Small to medium enterprise
• MID - Medium to large
• MNC - Multinational companies
Head of Shared
SHARED SERVICE CENTRE Team Lead Assistant Manager Manager Service Centre
China 250 - 400 400 - 600 600 - 800 800 - 1,500
Hong Kong SAR 300 - 520 520 - 660 572 - 750 1,000 - 1,500
Malaysia 90 - 120 105 - 168 180 - 300 240 - 550
Singapore 50 - 75 65 - 90 90 - 150 150 - 250
NOTES
• Salaries are represented in local currencies • SME - Small to medium enterprise
• MID - Medium to large
• MNC - Multinational companies
NOTES
• Salaries are represented in local currencies
Finance Director/
Financial Controller CFO Tax Accountant
China 900 - 1,200 1500 - 3,500 250 - 400
Hong Kong SAR 1,140 - 1,320 1,320 - 3,500 400 - 780
Japan 12 - 25 12 - 30 6 - 12
Malaysia 276 - 360 420 + 60 - 120
Singapore 180 - 300 350 - 500 90 - 160
Accounts
Receivable Accounts Payable Credit Control
China 60 - 120 60 - 120 200 - 500
Hong Kong SAR 200 - 300 200 - 300 200 - 320
Japan 6-9 6-9 8 - 15
Malaysia 34 - 66 34 - 66 36 - 66
Singapore 40 - 65 40 - 65 40 - 65
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
BANKING Assistant
MARKET RISK Analyst Associate Vice President Vice President Director
China 180 - 240 240 - 360 360 - 600 600 - 960 960 +
Hong Kong SAR 180 - 360 360 - 480 480 - 660 660 - 960 1,080 +
Japan 6-8 8 - 12 11 - 15 13 - 20 20 +
Malaysia 48 - 72 72 - 116 120 - 156 180 - 240 300 - 360
Singapore 60 - 90 90 - 110 110 - 150 150 - 230 230 +
BANKING Assistant
OPERATIONAL RISK Analyst Associate Vice President Vice President Director
China 120 - 240 240 - 360 360 - 600 600 - 1,080 1,080 +
Hong Kong SAR 260 - 480 480 - 660 660 - 1,000 1,000 - 1,400 1,400 - 2,000
Japan 6-8 8 - 10 11 - 14 15 - 20 20 +
Malaysia 48 - 72 72 - 90 108 - 180 192 - 240 240 - 300
Singapore 50 - 80 80 - 100 100 - 135 135 - 220 220 +
NOTES
• Salaries are represented in local currencies
Executive/ Assistant
INSURANCE Senior Executive Manager Manager Senior Manager Director
China 180 - 250 200 - 360 300 - 500 400 - 700 700+
Hong Kong SAR 300 - 360 380 - 520 540 - 660 720 - 900 960 - 1,300
Japan 5-7 7-9 9 - 12 12 - 17 18 +
Malaysia 48 - 72 72 -96 96 - 144 144 - 204 216 +
Singapore 40 - 60 60 - 80 80 - 120 120 - 200 200 +
NOTES
• Salaries are represented in local currencies
Officer/ Assistant
INSURANCE Senior Officer Manager Manager Senior Manager Director
China 150 - 250 250 - 400 400 - 600 600 - 800 1,500+
Hong Kong SAR 300 - 360 420 - 540 600 - 780 780 - 900 980 - 1,600
Japan 5-8 6 - 10 8 - 12 13 - 18 15 - 18
Malaysia 51 - 96 72 - 108 108 - 180 180 - 222 222 - 492
Singapore 35 - 65 65 - 90 90 - 150 150 - 200 200 - 350
Officer/ Assistant
COMMERCE & INDUSTRY Senior Officer Manager Manager Senior Manager Director
China 120 - 240 180 - 350 300 - 500 400 - 700 700 +
Hong Kong SAR 150 - 300 300 - 450 450 - 750 600 - 850 850 +
Japan 5-8 7 - 12 9 - 16 10 - 20 17 +
Malaysia 60 - 72 72 - 102 102 - 180 180 - 264 264 +
Singapore 35 - 60 60 - 80 80 - 120 120 - 180 180 +
NOTES
• Salaries are represented in local currencies
Vice Managing
PRIVATE EQUITY Analyst Associate President Director Director
China 250 - 400 400 - 800 650 - 1,500 1,500 - 2,000 1,800 +
Hong Kong SAR 420 - 600 600 - 1,000 1,000 - 1,400 1,400 - 1,800 1,800 +
Japan 8 - 13 10 - 15 15 - 25 20 - 30 30 +
Malaysia 60 - 108 96 - 144 120 - 192 192 - 384 420 +
Singapore 70 - 100 100 - 150 150 - 180 180 - 250 250 +
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are annual and represented in local currencies
Assistant Senior
Relationship Relationship Relationship Department
COMMERCIAL BANKING Manager Manager Manager Team Head Head
China 180 - 240 240 - 420 420 - 720 600 - 900 900 +
Hong Kong SAR 220 - 400 300 - 600 600 - 800 750 - 1,260 1,080 +
Japan 5-7 8 - 12 13 - 15 15 - 20 20 +
Malaysia 60 - 96 90 - 156 156 - 240 240 - 480 480 +
Singapore 50 - 70 70 - 120 120 - 150 150 - 200 200 +
NOTES
• Salaries are annual and represented in local currencies
Assistant Senior
Relationship Relationship Relationship Department
FINANCIAL INSTITUTIONS BANKING Manager Manager Manager Team Head Head
China 180 - 240 240 - 500 480 - 1,000 900 - 1,320 1,320 +
Hong Kong SAR 250 - 400 400 - 600 600 - 900 900 - 1,260 1,380 +
Japan 6-9 10 - 14 15 - 18 18 - 22 22 +
Malaysia 60 - 96 90 - 156 156 - 240 240 - 480 480 +
Singapore 60 - 85 90 - 130 130 - 200 200 - 250 250 +
NOTES
• Salaries are annual and represented in local currencies
COLLATERAL MANAGEMENT/
CLIENT VALUATIONS Analyst Associate AVP Vice President Director
China 180 - 250 240 - 420 420 - 600 600 - 840 840 +
Hong Kong SAR 150 - 300 300 - 500 500 - 700 700 - 900 900 +
Japan 6-8 8 - 10 10 - 14 15 - 20 20 +
Malaysia 60 - 72 72 - 120 120 - 156 156 - 216 216 +
Singapore 50 - 70 70 - 90 90 - 130 130 - 200 200 +
NOTES
• Salaries are annual and represented in local currencies
TRANSACTION BANKING
CLIENT SERVICE Officer Associate AVP Vice President Director
China 120 - 240 240 - 360 360 - 480 480 - 600 600 +
Hong Kong SAR 180 - 300 300 - 420 420 - 540 540 - 660 660 +
Japan 6 - 7.5 8 - 10 10 - 13 13 - 18 18 +
Malaysia 48 - 78 80 - 120 120 - 150 150 - 216 216 - 340
Singapore 50 - 60 60 - 90 90 - 130 130 - 180 180 +
TRANSACTION BANKING
IMPLEMENTATION Officer Associate AVP Vice President Director
China 180 - 240 240 - 360 360 - 600 600 - 800 800 +
Hong Kong SAR 240 - 300 300 - 420 420 - 600 600 - 800 800 - 1,050
Japan 6 - 7.5 8 - 10 11 - 13 14 - 18 18 +
Malaysia 48 - 60 60 - 108 108 - 180 180 - 240 240 +
Singapore 50 - 70 80 - 110 120 - 150 160 - 220 250 +
NOTES
• Salaries are annual and represented in local currencies
BANKING OPERATIONS
(TREASURY OPS, MM, FX) Officer Associate AVP VP Director
China 120 - 180 180 - 300 300 - 480 480 - 700 700 +
Hong Kong SAR 150 - 240 240 - 360 340 - 500 500 - 700 700 +
Japan 6 - 7.5 8 - 10 10 - 13 13 - 17 18 +
Malaysia 54 - 60 60 - 96 96 - 150 150 - 264 240 +
Singapore 40 - 60 60 - 85 80 - 120 120 - 180 200 +
Senior
FUND OPERATIONS Administrator Administrator Manager VP Director
China 180 - 250 250 - 360 360 - 600 600 - 1,000 1,000 +
Hong Kong SAR 250 - 350 380 - 480 480 - 840 800 - 1,100 1,000 - 1,400
Japan 6-8 8 - 10 11 - 14 10 - 15 15 +
Malaysia 54 - 72 72 - 96 96 - 156 110 - 216 216 +
Singapore 40 - 55 55 - 80 80 - 120 120 - 200 200 +
NOTES
• Salaries are annual and represented in local currencies
INSURANCE AND INVESTMENT Specialist Senior Specialist Team Head Region Head
China 120 - 240 240 - 300 300 - 600 600 +
Hong Kong SAR 180 - 280 360 - 500 700 - 850 1,000 +
Japan 4-6 6-9 9 - 12 13 +
Malaysia 54 - 66 66 - 96 96 - 144 144 - 243
Singapore 50 - 75 80 - 100 120 - 150 180 +
NOTES
• Salaries are annual and represented in local currencies
CONSTRUCTION CIVIL Site Engineer Project Engineer Design Manager Project Manager
China 100 - 180 150 - 250 300 - 400 350 - 500
Hong Kong SAR 240 - 300 300 - 420 350 - 500 450 - 670
Project Design
CONSTRUCTION BUILDING Site Engineer Engineer Manager
China 100 - 180 150 - 300 350 - 500
Hong Kong SAR 100 - 180 150 - 300 350 - 500
Business Business
Development Project Development Development
CONSTRUCTION DEVELOPMENT Manager Manager Manager Director
China 300 - 500 300 - 500 300 - 600 800 - 1,500
Hong Kong SAR 300 - 500 300 - 500 300 - 600 800 - 1,500
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
Business
ANALYTICS & BIG DATA Data Engineer Data Scientist Intelligence Head of Data
China 300 - 450 500 - 1,200 320 - 500 1,500 - 2,200
Hong Kong SAR 420 - 780 420 - 780 420 - 780 2,000 - 2,500
Japan 6 - 13 8 - 14 8 - 15 20 - 22
Malaysia 120 - 240 120 - 300 120 - 240 350 - 600
Singapore 60 - 150 60 - 180 60 - 120 180 - 300
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
AI Global Machine
Solution Deep Learning learning
AI AI Developer Architect Project Manager Engineer
China 350 - 800 500 - 1,000 450 - 850 350 - 800
Hong Kong SAR 420 - 960 840 - 1,200 900 - 1,320 780 - 1,080
Japan 6 - 12 9 - 13 8 - 12 N/A
Malaysia 80 - 192 180 - 360 180 - 360 80 - 240
Singapore 70 - 150 120 - 240 120 - 240 70 - 150
NOTES
• Salaries are represented in local currencies
CHINA organisations towards the OMO (online- A DISTANCE LEARNING TREND AND
merge-offline) business model. Successful GROWTH IN BILINGUAL EDUCATION
THE PANDEMIC TRANSFORMED THE adoption will require professionals with
WORLD OVERNIGHT, AND IN DOING SO Also affected is the ‘Study Abroad’ sector,
broad experience sets, including digital
CREATED THE LARGEST DISRUPTION and 2021 could become “the year of
operations, user acquisition, social media
OF EDUCATION SYSTEMS IN HISTORY, distance learning”. As international
marketing, KOL management, leads
FUNDAMENTALLY IMPACTING THE SECTOR student mobility is hindered and borders
generation and brand positioning. For
closed, new professional skills are required
In the recruitment market, the pandemic these roles, such is the demand, education
predominantly for on-campus (homeland)
accelerated trends and decelerated industry experience is not mandatory.
landing programs.
education mainstays, whilst ushering in Another trend accelerated by the pandemic
entirely new ways to teach and learn. The K-12 international school market in
is the transition from traditional book
These key trends will continue to change China saw a doubling of international
publishing towards the digital educational
the education landscape well into 2021 schools in the past decade. In 2021, given
content publishing model. Headcount
and beyond. the strict regulations and fewer
increases will emerge in intellectual
expatriates, more development is to be
One such impact was in how the higher property (IP), licensing and rights
seen in the bilingual education sector
education sector saw an acceleration of distribution and business development
where candidates who can identify and
online learning. As this will play an sectors. Furthermore, candidates with
generate high net worth customers using
increasingly important role in the sector strategic partnership, content production,
creative marketing, admissions and
going forward, universities, colleges and monetisation and editorial experience will
recruitment methods, and possess skills in
business schools will look to employ also prove valuable.
building market brand awareness are in
candidates for new emerging roles, As the adoption of online education high demand.
including managing online learning continues apace, employers will upscale
management systems, digital classroom their businesses as they increase
operations and teaching support manpower. This will be most prominent in
technology platforms. Online course increasing quality and capabilities in
providers, e-universities and MOOC academic research, curriculum and course
providers will also be actively recruiting. development, teaching resource quality
Also negatively affected was the and post-sales customer services, as well
traditional offline training (after-school) as product innovation and development,
sector, which has seen considerable gamification and digitalisation.
deceleration, propelling a number of
SALARY INFORMATION: EDUCATION
Account/
Professional Business
Development Development Publishing Licensing General
PUBLISHING HOUSES Managers Chief Editor Manager Manager Manager Manager
China 300 - 450 750 - 900 250 - 400 400 - 600 450 - 650 800 - 1,200
Business
Admissions/ Director Development Marketing Curriculum/ Education
Recruitment of Sales & Manager/ Manager/ Product Solutions
EDUCATION SERVICE PROVIDERS Manager Marketing Director Director Development Managers
China 280 - 450 750 - 1,200 250 - 800 350 - 800 400 - 800 600 - 800
Regional Business
Heads Owners
China 800 - 1,500 1,000 - 2,000
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currency
analyse numerical data to find patterns and increments of between 15 and 20 per cent
make predictions for financial markets in when moving positions. This new outlook will result in a slight
the coming years, and private equity firms salary increase across fintech roles in 2021,
Also garnering attention in the coming particularly for those who are ‘disruptors’
are leading the charge for these individuals.
year will be natural language processing and can discover new ways by which
However, in a scenario reminiscent of the and machine learning professionals, as businesses may overcome the economic
demand for AI professionals five years finance firms seek to utilise improved downturn.
ago, due to the relative newness of the client serving platforms to maximise
role, there is a pronounced dearth in business earning potential.
strong, domestic candidates. To this end,
companies will fund overseas training JAPAN
missions for the right individuals or court
returnees with the relevant experience. THE PAST TWELVE MONTHS HAVE
Due to the candidate scarcity, jobseekers SHOWN COMPANIES THE IMPORTANCE
can expect to see salary augmentation of OF FINTECH ADOPTION
around 30 per cent. 2020 saw an increased complexity in
TRADITIONAL BANKING TO UNDERGO financial company practices, giving rise to
DIGITAL TRANSFORMATION a new dynamic in the industry,
emboldening new competitors with
In the traditional banking sector, retail and cutting-edge ideas that have altered
commercial banks will increasingly consumer expectations.
embrace the digital revolution in 2021. To
facilitate digital transformations so that The coming year will be all about
businesses can perform a greater number digital transformation and how, by
of functions online and offer more mobile attracting customers through simplified
services, firms are acquiring large numbers banking practices, it will assist financial
of professionals in these areas. Here too, services companies in improving the
salaries will increase significantly, and this customer experience.
trend is expected to continue for the next The ‘new normal’ is forcing finance
two years or more. companies to update their legacy IT
systems, the greatest barrier to
successfully implementing digital
Infrastructure Development
MANAGEMENT Manager Manager IT Director CIO
China 400 - 800 600 - 1,200 800 - 1,800 1,200 - 2,500
Hong Kong SAR 1,100 - 1,800 1,100 - 1,800 1,500 - 2,000 1,500 - 2,200
Japan 12 - 15 12 - 18 20 - 25 25 - 35
Malaysia 162 - 300 150 - 310 250 - 540 480 - 780
Singapore 150 - 300 150 - 300 200 - 400 350 - 600
Quantitative IT Security/
OTHER Analyst IT Risk IT Audit BCP Manager
China 400 - 600 400 - 800 400 - 700 400 - 700
Hong Kong SAR 720 - 1,500 600 - 1,000 570 - 900 800 - 1,000
Japan 12 - 18 12 - 20 12 - 18 8 - 12
Malaysia 150 - 240 180 - 480 180 - 360 180 - 300
Singapore 100 - 250 100 - 350 80 - 360 100 - 300
Project Service
Co-ordinators/PMO Delivery Manager Tester Test Manager
China 250 - 500 450 - 750 250 - 350 400 - 600
Hong Kong SAR 550 - 820 750 - 1,160 450 - 780 720 - 1,200
Japan 6-8 8 - 12 8 - 12 12 - 14
Malaysia 120 - 180 180 - 300 80 - 192 120 - 240
Singapore 80 - 130 120 - 220 84 - 150 150 - 250
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
EXCEL/VBA/RAD
DERIVATIVES Non-Officer AVP Executive Managing
(ALL ASSET CLASSES) (Associate) Senior Associate Vice President Director Director
China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 450 - 700 850 - 1,000 1,000 - 1,500 1,500 - 1,800 1,800 - 2,000
Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +
Malaysia 80 - 110 110 - 150 160 - 230 240 - 360 N/A
Singapore 60 - 90 90 - 150 150 - 220 220 - 300 N/A
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
CHINA Even though there has been an obvious salaries but also more flexible working
decline of the HR presence in the past practices, which will prove to be a
A YEAR OF CAUTION AHEAD year, domestic companies are still willing welcome, added enticement to many
In 2020, China’s HR sector faced numerous to offer attractive salary packages to candidates in the market.
challenges as the devastation of the secure impressive talent. To be more
coronavirus, particularly in Europe and the attractive to employees, candidates should JAPAN
U.S., negatively impacted the global be less concerned with salary expectations
economy. The slowdown in industries right and focus more on other push and pull COMPANIES ARE WILLING TO STRETCH
across the board has forced employers to factors such as industry, company BUDGETS FOR SUPERLATIVE TALENT
scale back recruitment, particularly in the performance and chemistry with a IN 2021
manufacturing and operation, FMCG, retail, potential line manager as part of their The pandemic that swept the globe in
energy and oil industries, with companies decision-making process. 2021 caught everyone off guard, severely
shedding jobs at an unprecedented rate. In impacting Japan’s HR sector. Some
these extraordinary times, the requirement HONG KONG SAR organisations were better prepared than
for HR experts increases immeasurably. others, and those without a clear policy to
COMPANIES WILL TURN TO
In the year ahead there will be distinct HR adopt were forced to turn to contractors
TRANSFORMATION IN 2021 IN ORDER
hiring adjustments, with employers paying or compensation and benefits specialists
TO TURN HR FUNCTIONS INTO TRUE
greater interest in candidates’ soft skills. HR in order to implement essential work-
DRIVERS OF BUSINESS SUCCESS
professionals are expected to be flexible, from-home and flexitime practices. In
accountable, responsible and composed 2020 was a challenging year as it faced an addition, talent management and
under pressure, as failing to hire the uncertain economic future. HR roles and development positions were required to
optimal personnel increases the risk of responsibilities were taken up elsewhere measure employee performances as they
higher turnover, and as such companies are across Asia, while HR recruitment slowed. worked remotely.
set to be more conservative in recruitment. However, this hasn’t stopped organisations Particularly hard hit were the retail,
This conservativeness goes as far as from being creative, and in 2021 there will logistics and manufacturing sectors where
restricting hiring to individuals from within be a spotlight on technology, especially in budgets were cut, and across the industry
the same industry. larger-scale firms. HR transformation in organisations were required to review
SALARY INFORMATION: HUMAN RESOURCES
HR CANDIDATES SHOULD CONSIDER particular – approaching the business from headcounts and undertake restructuring
MORE THAN SALARY an HR perspective, making it more strategies in order to cover short-term
efficient, less costly and providing an costs. However, healthcare and IT
Despite business concerns, there will in improved user experience – will companies saw greater recruitment
fact be a continued demand for increasingly become a critical focus for demand with allocations increasing
experienced HR specialists in 2021, organisations. accordingly, and larger organisations that
particularly HR business partners (HRBP) still possessed the resources to do so were
and those who operate in the recruiting CHANGE MANAGEMENT NECESSARY TO
willing to stretch budgets when acquiring
and compensation & benefits sectors, as IMPLEMENT TRANSFORMATION
the right candidates.
companies require them to help retain key With people, business models, systems,
talent and build up HR functions. SENIOR LEVEL HIRES AND BILINGUAL
processes and employee expectations
PROFESSIONALS
constantly evolving, transformation is one
of the most challenging of organisational In the coming year, with costs an ongoing
goals. As such, effective change concern, organisations can be expected to
management is vital for its uncover and benchmark what their
implementation, as it builds strong competitors are offering rather than
employee engagement, the foundation for maintaining existing salary schemes. When
a successful HR transformation. it comes to augmenting headcounts,
senior level HRBPs with solid backgrounds
As a result, employers will continue to
in talent management, succession
seek candidates who have experience in
planning and stakeholder management
leading HR business transformation,
skills will be much sought after.
ultimately achieving better efficiency,
Additionally, strategic HR manager and
effectiveness and employee engagement.
director-level candidates who can plan,
This includes roles covering HR business
implement and manage subordinates will
partnering, compensation & benefits as
also be key hires, with organisations here
well as talent management.
also willing to break salary structures if
Given the current economic uncertainties, needs be.
2021 should see a modest increase in
HR Manager/ HR Manager/
Senior HR Assistant HR HRBP HRBP
HR Executive Executive Manager (6+ yrs) (10+ yrs)
China 100 - 240 150 - 300 200 - 350 350 - 800 500 - 1,000
Hong Kong SAR 168 - 360 300 - 480 420 - 540 480 - 720 720 - 1,200
Japan 5-7 6 - 10 7 - 12 12 - 16 15 - 18
Malaysia 42 - 66 67 - 102 84 - 144 120 - 180 180 - 240
Singapore 40 - 70 55 - 72 70 - 100 80 - 120 80 - 150
Regional Regional
Compensation Manager Compensation Director
& Benefits Compensation & Benefits Compensation
Specialist & Benefits Manager & Benefits
China 150 - 300 400 - 700 600 - 1,200 800 - 2,000
Hong Kong SAR 300 - 480 480 - 720 720 - 960 1,200 - 2,280
Japan 6 - 10 10 - 16 12 - 18 15 - 22
Malaysia 84 - 120 120 - 180 180 - 300 300 - 420
Singapore 70 - 120 120 - 150 150 - 180 180 - 300
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
Organisational
Shared Services Development
Payroll Officer Payroll Manager Manager Manager
China 100 - 180 300 - 600 400 - 1,000 500 - 1,500
Hong Kong SAR 216 - 336 480 - 720 480 - 720 600 - 900
Japan 5-9 9 - 14 10 - 15 12 - 18
Malaysia 54 - 90 120 - 180 180 - 360 144 - 300
Singapore 40 - 70 70 - 120 90 - 220 120 - 250
NOTES
• Salaries are represented in local currencies
Senior Test
SOFTWARE TESTING Test Analyst Analyst QA Manager QA Director
China 250 - 350 300 - 500 420 - 630 580 - 850
Hong Kong SAR 420 - 800 600 - 1,000 600 - 850 700 - 1,100
Japan 6-8 8 - 10 8 - 14 10 - 16
Malaysia 78 - 102 102 - 156 156 - 240 264 - 330
Singapore 60 - 90 75 - 110 80 - 120 150 - 200
INFRASTRUCTURE
Sybase/ Windows
Oracle/MS Storage Voice Network (Wintel)
SYSTEMS ADMINISTRATION Unix Admin SQL DBA Engineer Engineer Engineer Admin
China 280 - 450 350 - 580 280 - 380 200 - 280 200 - 350 150 - 300
Hong Kong SAR 500 - 900 470 - 800 460 - 860 660 - 950 480 - 860 420 - 800
Japan 8 - 10 8 - 12 8 - 12 8 - 12 8 - 12 8 - 12
Malaysia 84 - 216 96 - 216 96 - 180 96 - 216 96 - 300 60 - 200
Singapore 70 - 120 70 - 150 75 - 125 45 - 100 65 - 130 60 - 120
Helpdesk Network
MANAGEMENT ROLES Manager Manager IT Manager
China 280 - 480 300 - 500 400 - 800
Hong Kong SAR 480 - 920 600 - 1,000 760 - 1,200
Japan 10 - 12 10 - 14 12 - 16
Malaysia 96 - 216 120 - 360 120 - 300
Singapore 85 - 140 100 - 160 90 - 190
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
Project/
Project Manager Program Director IT Audit
China 320 - 600 550 - 1,200 400 - 800
Hong Kong SAR 580 - 950 900 - 1,400 600 - 1,000
Japan 8 - 14 12 - 16 8 - 14
Malaysia 120 - 240 216 - 360 96 - 180
Singapore 100 - 200 150 - 250 90 - 175
NOTES
• Salaries are represented in local currencies
Technical Sales
Presales Consultant Presales Manager Manager Industry Consultant
China 300 - 900 600 - 1,200 600 - 900 300 - 600
Hong Kong SAR 550 - 900 620 - 900 1,400 - 1,800 N/A
Japan 12 - 18 14 - 20 N/A N/A
Malaysia 100 - 200 144 - 300 216 - 350 300 - 480
Singapore 130 - 215 170 - 250 170 - 250 320 - 550
NOTES
• Salaries are represented in local currencies
FIXED & MOBILE NETWORK Engineer Integration Support Architect Presales Manager
Japan 6 - 10 6 - 10 6-8 8 - 14 10 - 16 10 - 18
Malaysia 70 - 120 75 - 110 60 - 110 120 - 200 140 - 210 120 - 180
Singapore 65 - 125 70 - 100 65 - 110 110 - 190 130 - 200 110 - 180
TELECOM | BUSINESS
Business
Project Transformation Project/Program
ANALYSIS & PROJECT Manager Manager Director
Japan 8 - 12 8 - 12 10 - 16
Malaysia 120 - 240 180 - 300 240 - 720
Singapore 130 - 200 140 - 250 190 - 300
NOTES
• Salaries are represented in local currencies
to come, the hunt for stand-out talent will Insurers will once again resume hiring,
risk management, compliance and third- continue as ever, as the sector desires the creating openings in the market – albeit at
party administration management. best and brightest to lead the industry a markedly more conservative pace than
forward to future growth and development. in 2019 and 2020’s first quarter.
With that said, as the economic future For those in the general insurance sector,
remains uncertain, employers will put in things will look even more promising as it
place cost controls, with a likelihood of was not hit quite so hard by the global
marginal salary augmentations and economic slowdown. However, here too
conservative bonus pay-outs, and new openings will be limited-to-moderate in
incumbents should expect between eight the year to come.
and 18 per cent increases. Due to these
Within those openings, the compliance
restrictions, employers will have to entice
and internal audit sector requires
candidates by focusing on career paths,
professionals to liaise with the Financial
candidate interest in the specific role and
Services Agency as insurers explore new
their long-term potential at the firm.
ways to sell their products through online
Corporate branding, culture and business
platforms. Similarly, digital transformation
direction will be the top considerations for
and business continuity planning
new hires in 2021.
professionals will be key areas of focus,
while the aforementioned early
retirements have opened up positions in
underwriting and clams handling.
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE SALARY INFORMATION: INSURANCE
Department
ACTUARIAL Associate Manager Senior Manager Head Chief Actuary
China 200 - 300 300 - 600 400 - 800 800 - 1,500 1,200 - 3,000
Hong Kong SAR 180 - 520 600 - 780 840 - 1,200 1,200 - 1,800 1,500 - 2,800
Japan 5 - 10 12 - 18 14 - 21 20 - 25 30 - 35
Malaysia 62 - 90 84 - 192 180 - 360 300 - 480 480 - 680
Singapore 50 - 90 120 - 150 140 - 180 180 - 340 260 - 440
NOTES
• Salaries are represented in local currencies
AGENCY Agency Officer Assistant Manager Manager Senior Manager Agency Director
China 150 - 250 200 - 400 300 - 500 500 - 600 1,000 - 1,500
Hong Kong SAR 180 - 300 336 - 540 336 - 540 660 - 960 1,000 - 1,600
Japan 5-8 7 - 10 8 - 12 12 - 18 15 - 20
Malaysia 33 - 39 39 - 54 60 - 96 156 - 216 120 - 180
Singapore 40 - 60 70 - 100 110 - 140 140 - 180 140 - 190
Assistant
UNDERWRITING LIFE Manager Manager Senior Manager Director
China 150 - 480 400 - 600 500 - 900 1,000 - 1,400
Hong Kong SAR 420 - 540 540 - 780 696 - 900 900 - 1,200
Japan 6-8 8 - 12 10 - 15 15 - 18
Malaysia 60 - 80 84 - 180 180 - 228 216 - 300
Singapore 70 - 90 100 - 140 150 - 200 250 - 300
Assistant Head of
UNDERWRITING GENERAL Manager Manager Senior Manager Business Line
China 200 - 400 300 - 600 500 - 700 800 - 1,500
Hong Kong SAR 300 - 480 550 - 650 600 - 780 900 - 1,700
Japan 6-8 8 - 12 10 - 15 15 - 18
Malaysia 72 - 96 96 - 156 144 - 240 220 - 420
Singapore 70 - 90 100 - 140 150 - 200 250 - 300
NOTES
• Salaries are represented in local currencies
Assistant
CLAIMS LIFE Manager Manager Senior Manager Head of Claims
China 200 - 400 300 - 500 400 - 700 600 - 900
Hong Kong SAR 360 - 540 504 - 660 650 - 780 800 - 1,200
Japan 6 - 10 8 - 10 12 - 15 15 - 20
Malaysia 54 - 78 70 - 132 132 - 192 204 - 300
Singapore 60 - 90 125 - 190 130 - 200 200 - 300
Associate
Director/
STRATEGIC Analyst Manager Senior Manager Director/AVP
China 250 - 500 500 - 700 700 - 1,200 1,200 - 3,000
Hong Kong SAR 280 - 540 600 - 750 900 - 1,550 1,400 - 2,200
Japan 5 - 11 10 - 16 13 - 19 15 - 25
Malaysia 56 - 120 84 - 156 156 - 240 240 - 300
Singapore 60 - 80 90 - 130 140 - 180 180 - 230
Assistant Senior
OPERATIONS Manager Manager Manager COO
China 150 - 400 300 - 500 600 - 900 1,600 - 2,200
Hong Kong SAR 420 - 540 540 - 720 700 - 950 1,800 - 2,500
Japan 6 - 10 8 - 12 12 - 18 15 - 30
Malaysia 72 - 120 120 - 216 180 - 288 420 +
Singapore 70 - 90 90 - 140 140 - 200 200 - 250
NOTES
• Salaries are represented in local currencies
PRIVATE PRACTICE Paralegal Newly qualified 1 year PQE 2 years PQE 3 years PQE
China (International Firm) 180 - 360 500 - 1,000 600 - 1,260 650 - 1,400 750 - 1,540
China (PRC Firm) 160 - 250 250 - 300 280 - 400 300 - 500 350 - 550
Hong Kong SAR (International Firm) 240 - 840 980 - 1,092 1,050 - 1,190 1,162 - 1,302 1,232 - 1,372
Hong Kong SAR (NY/US Firm) 350 - 980 2,028 + 2,303 + 2,385 + 2,574 +
Japan 4-8 5 - 10 6 - 12 7 - 13 8 - 14
Malaysia 38 - 60 48 - 60 55 - 65 52 - 70 60 - 81
Singapore 48 - 72 54 - 72 72 - 96 96 - 108 108 - 120
4 years PQE 5 years PQE 6 years PQE 7 years PQE 8 years PQE
China (International Firm) 800 - 1,680 900 - 1,750 1,000 - 1,820 1,100 - 1,900 1,200 - 1,950
China (PRC Firm) 400 - 600 520 - 700 600 - 750 650 - 900 700 - 1,000
Hong Kong SAR (International Firm) 1,260 - 1,540 1,344 - 1,680 1,512 - 1,820 1,610 - 1,890 1,750 - 2,170
Hong Kong SAR (NY/US Firm) 2,903 + 3,138 + 3,372 + 3,560 + 3,842 +
Japan 8 - 15 10 - 18 10 - 20 10 - 22 12 - 25
Malaysia 66 - 84 70 - 96 75 - 108 80 - 114 90 - 144
Singapore 120 - 132 120 - 144 132 - 156 132 - 180 180 +
Junior
Legal Counsel Legal Counsel Legal Counsel Senior Counsel General
COMMERCIAL IN-HOUSE Paralegal (0 - 3 PQE) (4-6 PQE) (7-10 + PQE) (10 + PQE) Counsel
China 140 - 250 200 - 400 350 - 750 650 - 1,200 750 - 1,600 1,300 - 4,000
Hong Kong SAR 180 - 840 500 - 1,120 950 - 1,750 1,150 - 1950 1,500 – 2,400 1,800 - 4,000
Japan 4-8 5 - 10 8 - 15 10 - 20 14 - 25 17 +
Malaysia 48 - 60 38 - 60 54 - 96 108 - 156 120 - 300 300 - 600
Singapore 46 - 65 52 - 78 85 - 136 130 - 156 156 - 250 250 - 500
Junior
Legal Counsel Legal Counsel Legal Counsel Senior Counsel General
FINANCIAL SERVICES IN-HOUSE Paralegal (0 - 3 PQE) (4-6 PQE) (7-10 + PQE) (10 + PQE) Counsel
China 150 - 300 280 - 600 500 - 860 800 - 1500 1,000 - 2,000 1,500 - 3,500
Hong Kong SAR 300 - 900 750 - 1,395 1,100 - 1,950 1,500 - 2,400 1,850 - 3,000 2,550 - 6,000
Japan 4-8 6 - 14 9 - 18 15 - 20 15 - 32 22 - 40
Malaysia 30 - 54 42 - 72 66 – 102 90 - 180 180 - 300 480 - 600
Singapore 52 - 65 52 - 91 104 - 130 150 - 200 300 - 450 500 +
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
CHINA multinational companies will prioritise but this is nothing compared to the desire
finding potential within the local market, in the area for individuals with superlative
GOVERNMENT INCENTIVES AND and with the urgency inherent in the scientific backgrounds in medical affairs
PEVCS WILL FUND LIFE SCIENCES booming life sciences industry, employers division from the pharmaceutical sector.
RECRUITING BOOM are willing to lower their exacting
COMPETITION FOR HIGH-LEVEL
China’s life sciences industry was very standards in order to facilitate faster
SPECIALISED SCIENTISTS
much in the spotlight last year, and this onboarding procedures.
focus is only likely to intensify throughout Senior scientists of high repute will also be
To entice candidates, companies will turn
2021. Much of this attention will come required by a number of bio-pharmaceutical
to innovative remuneration packages,
from government initiatives to support companies. With Hong Kong’s reputation as
offering ‘total reward’ plans, including
innovation, R&D and new drugs by way of a globally renowned financial hub, in 2021
base salaries, flexible working, well-being
investment incentives and licensing these organisations will be launching IPOs,
plans and stock options. These packages
business development grants. and their regional offices will be battling for
can be individually tailored to candidate
high-level scientists to join boards of
Investment will also come from Private expectations, even permitting overseas-
directors. There is a pronounced shortage of
Equity and Venture Capital (PEVC) based employees to remain abroad, and in
these professionals with medical doctor
companies, as VC firms partner with major the high-demand areas of innovative
backgrounds, PhDs and specialty focus in
MNCs in order to implement digitalisation drugs, these will be accompanied by
innovative areas such as oncology,
and transformation operations in response impressive salary augmentation.
neurosciences and vaccines. As a
to the pandemic, driving recruitment for consequence, these positions will come with
digital talent programmers and data HONG KONG SAR huge salary increments.
management statisticians. More strikingly,
PEVC organisations, sensing the potential GOVERNMENT INTERVENTION AND
for licensing and development PUBLIC HEALTH CONCERNS TO SPARK JAPAN
opportunities, were extremely active in WIDE-RANGING SPENDING AND
ENCOURAGING MOVE TOWARDS
2020. This funding will continue to flow in INNOVATION
DIGITALISATION
the next year, with a focus on therapeutics With the pandemic looming large around
due to the large-scale necessity for The implementation of Big Data and
the world, Hong Kong’s healthcare system
medical needs in China, including analytics is set to become more
was brought into sharp focus in 2020,
oncology and infectious diseases. commonplace throughout the industry,
highlighting concerns and initiating
especially in immunology related clinical
DOMESTIC RECRUITMENT AND FLEXIBLE innovation in the life sciences industry. In
trial fields, where real world data can be
ENTICEMENTS order to ensure that this awareness
Business Business
Development Development
Manager Director PR/Corp Comm
China 500 - 800 1,000 - 2,200 300 - 600
Hong Kong SAR 520 - 850 900 - 1,300 364 - 650
Japan 9 - 13 12 - 15 8 - 12
Malaysia 100 - 150 200 - 300 100 - 200
Singapore 90 - 140 180 - 250 70 - 150
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
Medical
Medical Affairs Medical Affairs Information
MSL Medical Advisor Manager Director Manager
China 150 - 350 300 - 450 450 - 700 850 - 1,500 300 - 500
Hong Kong SAR 350 - 598 325 - 455 624 - 880 910 - 1,500 156 - 360
Japan 7 - 15 8 - 14 12 - 25 15 - 35 5 - 12
Malaysia 60 - 80 N/A 120 - 180 210 - 360 N/A
Singapore 75 - 180 N/A 140 - 180 250 - 300 90 - 200
NOTES
• Salaries are represented in local currencies
BioStatistic Senior
Manager BioStatistic Director Scientist Scientist
China 400 - 700 700 - 1,000 200 - 300 350 - 500
Hong Kong SAR N/A N/A 350 - 600 600 - 750
Japan 9 - 12 N/A 6-8 8 - 12
Malaysia 180 - 240 N/A 48 - 84 80 - 100
Singapore 120 - 150 N/A 50 - 90 90 - 160
Clinical
Research
Physician Medical Writer
China 400 - 700 200 - 400
Hong Kong SAR N/A 325 - 650
Japan 13 - 30 6 - 12
Malaysia N/A 48 - 96
Singapore 150 - 250 70 - 90
NOTES
• Salaries are represented in local currencies
AVIATION
PRODUCTION Engineer Supervisor Manager Director
China 120 - 180 150 - 300 250 - 600 600 - 1,200
Malaysia 40 - 70 60 - 80 180 - 300 360 - 600
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
HEAVY INDUSTRY
PRODUCTION Engineer Supervisor Manager Director Vice President
China 100 - 150 150 - 220 250 - 400 500 - 1,000 1,000 +
Japan 4.5 - 6 7-9 8 - 12 12 - 20 N/A
Malaysia 60 - 90 90 - 120 120 - 180 240 - 360 360 - 500
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
NOTES
• Salaries are represented in local currencies
Therefore, in the coming year they will marketing will see recruitment upswings, This was especially prominent in the retail
require talent that can deal with third as internet services companies offering and FMCG sectors, where e-commerce,
party applications and develop customer- online-to-offline products and services hire customer relationship management and
friendly applications and websites to candidates with strong experience in social media teams were expanded,
attract this traffic, and thus a background marketing analytics, thus assisting in meaning that specialised digital marketing
in these areas is essential. engaging with potential customers online, professionals in this candidate short
CROSS-INDUSTRY DIGITAL CANDIDATES increasing conversion rates and producing market can expect increments above the
greater revenue. market average in 2021. In addition, there
As innovation is very much to be is a continued demand for talent not only
encouraged, diversity of thought is EXPANDING HEADCOUNTS WITH
skilled in e-retail, but also experienced in
essential in digital marketing. As a TALENT WHO POSSESS WELL-ROUNDED
e-commerce platforms.
consequence, companies in 2021 will be MARKETING EXPERIENCE
much more amenable to accepting DEMAND FOR CMOS AT DOMESTIC VCS
While other industries saw headcounts
candidates with experience in other shrink following an unprecedented year, Marketing in the highly competitive IT and
those in marketing remained unchanged as software sectors will remain dynamic in
focus remained on driving as much revenue 2021, with data-driven marketing
as possible. In 2021, the focus will switch to strategies and the use of marketing
expansion, with companies seeking to add automation tools key to engaging
up to three candidates once businesses have customers and generating leads.
adapted to the new economic environment. Furthermore, there is an increase of
Key hires will be marketing communication Japanese IT venture companies looking to
managers and branding managers, as recruit capable and innovative CMOs to
companies look to ameliorate reputations, launch marketing teams. While CMO
launch O2O strategies and aggressively salaries at domestic IT ventures are not as
capture market share. These roles can competitive as their foreign counterparts,
expect double-digit percentage pay rises as candidates are enthusiastic about joining
demand increases. such innovative and flat organisations,
whilst also helping Japanese companies
Above all else, marketing employers will
expand overseas.
pursue all-round talents, specifically
marketing managers experienced in digital
transformation initiatives with traditional
Executive
MARKETING Creative Creative
- CREATIVE Copywriter Art Director Director Director
China 150 - 450 400 - 800 800 - 1,500 1,000 - 2,200
Hong Kong SAR 240 - 480 480 - 650 600 - 850 1,000 - 1,550
Japan 5-8 5-9 7 - 12 10 - 20
Malaysia 48 - 72 170 - 230 170 - 230 230 - 300
Singapore 40 - 80 80 - 130 100 - 150 150 - 200
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
DIGITAL Department
- CUSTOMER EXPERIENCE CRM Manager Manager Senior Manager Director Head
China 400 - 700 400 - 700 500 - 900 900 - 1,600 900 - 1,800
Hong Kong SAR 480 - 600 480 - 600 720 - 900 960 - 1,200 1,000 - 1,500
Japan 7 - 12 7 - 10 8 - 12 12 - 18 12 - 20
Malaysia 70 - 140 96 - 120 120 - 180 180 - 240 240 - 360
Singapore 60 - 100 80 - 120 120 - 150 150 - 180 180 - 220
NOTES
• Salaries are represented in local currencies
CHINA With that said, the year ahead will see market, it also has advantages, as
activity in the e-commerce sector, where specialisation and expertise have become
PRESSURE ON LIFE SCIENCES INDUSTRY customer service and administrator more vital than ever before. As a result, in
MEANS THAT RECRUITMENT FOR OFFICE professionals are required to facilitate 2021 the office professional market will dive
PROFESSIONALS IS ESSENTIAL escalating sales as a result of the global deep into specialisation, and competition
There has perhaps never been such an pandemic. Also faring well in a post- for high-level talent will be fierce.
intense focus on China’s life sciences pandemic world will be Chinese
JUNIOR CANDIDATES MUST ESCHEW
industry as there was in 2020, as both the companies, which fared better than their
GENERALIST ROLES AND AUGMENT
government and society turned a spotlight western counterparts in 2020.
EXPERTISE
on the development of drugs and reagents. BUSINESS ACUMEN ESSENTIAL FOR
Concurrently, health awareness and Market instability is proving to be less
EXECUTIVE ASSISTANTS
management has become more prominent advantageous for junior candidates, as
amongst the general public, leading to a Therefore, as more Chinese corporations shrinking budgets have little funding
boom in R&D and the manufacturing of expand into the Hong Kong market, there available for training schemes. As this trend
innovative drugs and medical devices, will be further requirement for office is expected to continue into 2021, it is
creating a pronounced demand for office professionals, though expected skillsets important for less-experienced jobseekers
professionals in the industry. are changing from executive assistants. to choose a career in which they can build
While secretarial support skills remain their expertise in a single area.
Another consequence of the global essential, the ability to show commercial
pandemic is in that employers in 2021 will Bilingual candidates will be in demand in
acumen to support the business have
look to candidates with future potential, 2021, and seasoned bilingual secretaries
become crucial. A background in finance,
seeing this as a way of enticing those who are expected to receive multiple offers,
business development and project
may remain cautious in these unstable meaning that employers will need to offer
management would give candidates a
times. That is not to say that current favourable conditions such as teleworking
significant advantage in being selected for
and flexible hours on top of salaries.
SALARY INFORMATION: OFFICE PROFESSIONALS
Sales
Data Entry Operator Coordinator
China N/A 100 - 220
Hong Kong SAR 144 - 168 216 - 288
Japan 3.5 - 5 4.5 - 7
Singapore 20 - 30 30 - 45
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
Legal Personal
LEGAL SUPPORT Legal Secretary Assistant
China 120 - 300 200 - 350
Hong Kong SAR 190 - 500 400 - 720
Japan 4-8 5 - 8.5
Singapore 25 - 65 50 - 72
BANKING & FINANCE SUPPORT Secretary Senior Secretary Personal Assistant Executive Assistant
China 120 - 250 240 - 360 200 - 350 300 - 650
Hong Kong SAR 192 - 264 360 - 480 360 - 660 360 - 660
Japan 6-8 7 - 11 8 - 12 8 - 14
Singapore 30 - 40 40 - 70 45 - 60 60 - 96
Project
PROPERTY & CONSTRUCTION Secretary/ Site Secretary/ Facilities
SUPPORT Administrator Administrator Administrator
Japan 3.5 - 6.5 6 - 8.5 10 - 15
Singapore 192 - 300 324 - 580 720 - 840
NOTES
• Salaries are represented in local currencies
supply chain talent who are able to close to its collection point – coincides
support these new operations, initiating with the proliferation of IoT devices.
strong recruitment drives in numerous
aspects of these functions.
Sourcing/ Sourcing/
Purchasing Purchasing
Manager Director
China 300 - 600 500 - 1,500
Hong Kong SAR 660 - 840 840 - 1,200
Japan 8 - 12 13 - 15
Malaysia 130 - 264 300 - 600
Singapore 80 - 120 200 - 250
SUPPLY CHAIN
Warehouse Distribution Transport Operations
WAREHOUSING/DISTRIBUTION Supervisor Manager Manager Manager
China 150 - 300 350 - 500 300 - 450 300 - 600
Hong Kong SAR 360 - 480 540 - 660 540 - 660 540 - 660
Japan 5-7 7-9 7 - 10 8 - 10
Malaysia 55 - 96 144 - 240 195 - 200 120 - 300
Singapore 52 - 60 75 - 115 80 - 120 65 - 91
Stock/
Inventory Warehouse
Controller Manager
China 150 - 250 200 - 400
Hong Kong SAR 240 - 340 360 - 480
Japan 5-7 8 - 10
Malaysia 70 - 96 102 - 200
Singapore 24 - 43 70 - 85
Sea/Ocean
Operations Operations Freight Air Freight Key Account
THIRD PARTY LOGISTICS Executive Manager Manager Manager Manager
China 80 - 200 200 - 400 250 - 400 250 - 400 250 - 500
Hong Kong SAR 240 - 420 300 - 480 420 - 600 420 - 600 360 - 480
Japan 3.5 - 5 6.5 - 8 7 - 10 7 - 10 7 - 10
Malaysia 36 - 72 84 - 240 104 - 192 104 - 192 130 - 180
Singapore 33 - 55 65 - 80 70 - 100 70 - 100 65 - 130
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
Supply Chain
Demand Planner Logistics Manager Materials Manager Director
China 100 - 300 200 - 700 250 - 500 700 - 1,500
Hong Kong SAR 390 – 520 540 - 660 325 - 520 780 - 1,400
Japan 7.5 - 9.5 8 - 14 7 - 12 14 - 25
Malaysia 60 - 144 108 - 360 120 - 300 240 - 840
Singapore 48 - 72 90 - 120 72 - 110 150 - 240
NOTES
• Salaries are represented in local currencies
Senior Asset
Asset Specialist Asset Manager Manager Asset Director
China 150 - 250 250 - 500 400 - 800 800 +
Japan 6-9 8 - 12 10 - 15 15 +
Singapore 36 - 60 60 - 96 96 - 120 120 - 240
Acquisitions Acquisitions
Surveyor/ Surveyor/ Senior
Manager Manager Acquisitions Acquisitions
(2-5 yrs) (5-10 yrs) Surveyor/Manager Director
China 150 - 250 250 - 500 500 - 800 900 +
Japan 6 - 10 10 - 15 15 - 18 18 +
Quantity Quantity
Surveyor Surveyor Senior Quantity Quantity Surveyor
(2-5 yrs) (5-10 yrs) Surveyor Director
China 120 - 200 150 - 350 400 - 600 700 +
Japan 4-6 5-8 8 - 10 N/A
Singapore N/A 36 - 60 60 - 120 120 - 216
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
anxiety over geopolitical tensions. One area that is expected to take Areas such as AI and data analytics have
advantage of the disruption is grown exponentially thanks to Japanese
Despite these concerns, China’s sales
e-commerce and retail, with online-to- firm expansion, domestic IT ventures and
industry will see numerous areas of
offline business expected to be even the arrival of international companies in
stronger in 2021. With the pandemic the Japanese market. Unfortunately, the
having changed consumer behaviour, with talent pool is shallow in these areas,
groceries, luxury items and appliances all especially for MNCs requiring English
now being purchased online, retail giants language talent to communicate with
are finding innovative ways to adapt, overseas branches, putting pressure on
partnering with the e-commerce companies to offer competitive salaries to
marketplace and developing their own secure the best candidates.
e-commerce platforms. Foreseeing a great
demand for candidates with regional
e-commerce partnership experience,
candidates are willing to take the
entrepreneurial path and move to
startup operations.
MORE SALARIES FOR POSITIONS WE RECRUIT FOR ARE AVAILABLE ONLINE BY CLICKING HERE
NOTES
• Salaries are represented in local currencies
TO EMPLOYERS
AND EMPLOYEES
OUR RECOMMENDATIONS
RECOMMENDATIONS
FOR EMPLOYERS
1 SEPARATE WORKING-FROM-
HOME FROM WORKING AT HOME
2 REORGANISE BONUS
STRUCTURES TO RETAIN KEY
In this era of increased remote working – TALENT
the implementation of which almost With the revenues of half of Asia’s
doubled over the past twelve months – it companies negatively impacted by 2020’s
would feel safe to assume that employees pandemic, it should come as no shock
are enjoying a better work-life balance. that salaries stagnated and bonus
However, more than ever have cited an arrangements were not honoured.
improved balance as a reason for seeking Furthermore, it should be unsurprising
a new role, rising from 38 per cent in 2017 that employees are resigned to seeing
to 48 per cent this year. Furthermore, only salaries maintain current levels in 2021 (28
46 per cent of employees said that their per cent) or even decrease (four per
work-life balance is good or very good, cent). What may be disappointing,
down from 50 per cent in 2019. This could however, is that some employees not only
be because employees are spending an saw salaries cut or positions demoted, but
increasing percentage of their ‘home time’ 36 per cent of those were not
working, always on call to answer emails recompensed by way of reduced working
or join online meetings. Companies should hours or increased benefits. As the global
note that the demarcation line between economy improves and the recruitment
work and home has blurred, and it is thus market becomes more competitive,
important to be responsive to this. companies will need to ensure that they
Offering more compressed working hours are able to retain their best talent, and
– something that 28 per cent of inspiring loyalty will be key. Though
employees would like to see – may help, budgets remain tight, employers may
as would understanding that, although need to make amends to those who lost
employees are working from home, it out, and to the 45 per cent of employees
does not mean that if they are home, then who did not receive agreed bonuses. To
they must be working. do so, companies may be able to link
future bonus structures to team
performances, or dispensation can be
made for niche and specialist talent.
RECOMMENDATIONS FOR EMPLOYERS
3 DECIDE HOW TO ACCESS THE
BEST DIGITAL TALENT
4 CONTINUE IMPROVED
INNOVATION THROUGH
Company and workplace digitalisation has DIVERSITY
been an ongoing trend for a number of 34 per cent of companies said that
years now, but it has perhaps never been innovation was improved by the
so more prominent as it is in 2021, as impositions caused by the coronavirus
employees work from home and revenue pandemic, compared to just 15 per cent
streams are increasingly sought through who said that it had a negative impact,
online channels. 46 per cent of companies proving the old adage that crisis sparks
are restructuring organisations and innovation. As the market moves slowly
departments due to changing business into a post-pandemic world with
needs, more than one and a half times of improving economies and new
in 2019 (30 per cent), and much of this opportunities, now is not the time to relax
can be linked to the digital revolution. this impetus and fall back into old ways;
However, as this is one of the most rather, it is time to capitalise. Companies
prominent areas of recruitment, must investigate how they can build on
competition for candidates will be fierce, this innovation to reach even greater
leaving three options: upskill existing heights, and one strategy is to improve
employees who show an aptitude in the workforce diversity. It feels like the
area; recruit fresh graduates and groom ongoing issue of diversity and inclusion
them to become the digital stars of has been somewhat side-lined during a
tomorrow; attract the best candidates on troubled year, but by introducing more
the market with substantial salaries. It is diverse thought structures and employees
up to employers to decide which is more of more varied backgrounds, companies
advantageous – and more expensive can be yet another step ahead in the
either in terms of budget or falling behind coming year.
competitors – in the long run.