We have put together this Morgan McKinley Salary Survey 2010: Hong Kong to provide a general guide to current compensation and hiring trends within the domestic professional services recruitment industry, particularly the financial services and commerce & industry sectors.

In addition to our consultants’ wealth of knowledge in their specialist sectors, Morgan McKinley conducted a telephone survey of 213 senior level operational and HR managers working across financial services and commerce & industry to find out their thoughts on compensation trends for the coming year. The aggregated results of this research are included in this report.

We hope you find this informative and we welcome any feedback you may have. For more specific salary or hiring information, please contact us directly.

 

 

FINANCIAL SERVICES RESEARCH FINDINGS

A recent telephone survey of senior level operational and HR managers working in Hong Kong’s financial services sector found that the majority (54.9%) expect basic salary offers within their business to increase over the next 12 months. The primary reason for this increase, as stated by respondents, was the need to attract and retain key staff, particularly as the market improves.

 

However, a focus on cost management was the main driver for a third (63%) of employers who expect salaries to remain unchanged and just 1.4% who said they will decrease.

 

When asked whether they or their team expect to receive a bonus, 79.5% said they did and 52.4% of those said it will be similar (28.3%) or higher (24.1%) than the amount they received for 2008. Although a third of respondents did not know what they might receive.

 

Over the course of this year, there has been much discussion about bonuses and how financial services professionals should be rewarded so we asked employers whether their organisation had implemented, or are planning to implement, a restructure of the components that make up total compensation packages in their businesses. The results found that 29.2% had made some change but the majority (70.9%) said there were no changes being made or that they weren’t aware of any. 

COMMERCE & INDUSTRY RESEARCH FINDINGS

 

Morgan McKinley recently conducted a telephone survey of senior level operational and HR managers working in a variety of firms within Hong Kong’s commercial sector. The results of this research found that 47% expect basic salary offers within their business to increase over the next 12 months and this was largely because they wanted to attract and/or retain key staff.

Due to a focus on cost management, 49% of employers surveyed said they expected salaries to remain unchanged or even decrease (4%). Of those employers who said they will decrease, the majority plan to hire next year.

The slight majority (54.2%) of employers said they expected bonuses to be paid at their organisation this year.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

About the Morgan McKinley Salary Survey 2010: Hong Kong

Morgan McKinley conducted a telephone survey of 213 senior-level operational and HR managers working in financial services and commerce & industry organisations in Hong Kong between 13th September and 13th October 2009. The aggregated results of this research are used in this edition of the Morgan McKinley Salary Survey 2010.

 

The salary information provided in this survey has been compiled by dedicated researchers across all of Morgan McKinley’s divisions. Our researchers are in continual contact with both employers and candidates across the financial services and commercial sectors. Salary data from placements made between March 2009 – October 2009, as well as the specialist knowledge of Morgan McKinley’s consultants have been taken into account during the specialist knowledge of Morgan McKinley’s consultants have been taken into account during the compilation of this report.

 

For more specific salary or hiring information, please visit www.morganmckinley.com.hk or contact your Morgan McKinley consultant direct.

 

Salary rates listed cover basic salaries only and do not include bonus payments or benefits, unless specifically stated otherwise. This is due to the enormous variety in which professional services employers manage employee reward.

 

Please note, the information presented in this document should be used as a general guide only. Where number of years’ experience is mentioned, it is only to give an approximate framework in which to gauge what a typical candidate is likely to earn with the level of experience shown. Morgan McKinley does not base decisions on the suitability of candidates for roles on the number of years’ experience he/she may have acquired but on the person’s full range of skills and abilities.

 

 

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