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2018 Finance and Accounting Salary Guide

David Yung - 22/01/2018
2018 Finance and Accounting Salary Guide

The 2018 Hong Kong guide for accounting and finance professionals covers salaries and contract rates in commerce and industry (C&I), financial services (FS), and insurance.

Contents: Finance and Accounting Salaries in Commerce and Industry | Finance and Accounting Contract Rates in Commerce and Industry | Finance and Accounting Salaries in Financial Services | Finance & Accounting Salaries within Insurance | Finance and Accounting Contract Rates in Financial Services

Commentary on Finance and Accounting Roles and Remuneration in Hong Kong for 2018

Finance and Accounting Salaries in Commerce and Industry

(HKD per month)

Role Accountant Senior Manager Senior Manager
Internal Audit 25k - 35k 35k - 50k 50k - 70k 70k - 100k
Treasury 20k - 35k 35k - 45k 45k - 70k 70k - 100k
Tax 20k - 35k 35k - 50k 50k - 80k 80k - 100k
Cost Accounting 20k - 30k 30k - 45k 45k - 60k 60k - 75k
Management Accounting 20k - 35k 35k - 45k 45k - 60k 60k - 80k
Financial Accounting 15k - 25k 25k - 35k 35k - 55k 55k - 75k
Financial Analyst 25k - 35k 35k - 50k 50k - 65k 65k - 85k
Finance Manager * * 45k - 65k 65k - 85k
Financial Controller * * * 85k - 100k
Finance Director * * * 80k - 130k
Chief Financial Officer * * * 100k - 150k+

* Roles do not typically exist at these levels

Finance and Accounting Contract Rates in Commerce and Industry

(HKD per month)

Role Accountant Senior Manager Senior Manager
Internal Audit 25k - 35k 35k - 50k 50k - 70k 70k - 100k
Treasury 20k - 35k 35k - 45k 45k - 70k 70k - 100k
Tax 20k - 35k 35k - 45k 45k - 80k 80k - 100k
Cost Accounting 20k - 30k 30k - 45k 45k - 60k 60k - 75k
Management Accounting 20k - 35k 35k - 45k 45k - 60k 60k - 80k
Financial Accounting 15k - 25k 25k - 35k 35k - 55k 55k - 75k
Financial Analyst 20k - 35k 35k - 45k 45k - 65k 65k - 85k
Finance Manager * * 45k - 65k 65k - 85k
Financial Controller * * 55k - 85k 85k - 100k
Finance Director * * 65k - 100k 80k - 120k
Chief Financial Officer * * * 90k - 150k+

* Roles do not typically exist at these levels

Finance and Accounting Salaries in Financial Services

(HKD per month)

Role Analyst Associate / AVP VP Executive Directior Managing Director
Product Control 30k - 40k 45k - 75k 75k - 100k 1.3mil+ *
Financial Controller * * 75k - 100k 1.2mil+ *
Valuations 35k - 45k 50k - 80k 80k - 110k 1.3mil+ *
Management Reporting 30k - 45k 45k - 65k 70k - 95k 1.2mil+ *
Financial Reporting 30k - 45k 45k - 65k 70k - 100k 1.2mil+ *
Chief Financial Officer * * * * 2mil+

Finance & Accounting Salaries within Insurance

(HKD per month)

Role Assistant Manager Manager Senior Manager Department Head
Financial Reporting 28k - 35k 40k - 45k 55k - 70k 75k - 95k
Management Reporting 28k - 35k 40k - 45k 55k - 70k 75k - 95k
Finance Project Management 35k - 45k 45k - 55k 60k - 70k 75k+
Financial Planning and Analyst 35k - 45k 45k - 55k 55k - 70k 75k - 95k

Finance and Accounting Contract Rates in Financial Services

(HKD per month)

Role Analyst Associate / AVP VP Director
Product Control 25k - 45k 45k - 75k 75k - 110k 110k+
Financial Control 25k - 45k 45k - 70k 70k - 100k 100k+
Valuations 35k - 40k 40k - 70k 70k - 100k 100k+
Management Reporting 25k - 45k 45k - 70k 70k - 100k 100k+
Financial Reporting 25k - 45k 45k - 70k 70k - 100k 100k+
Internal Audit 25k - 45k 45k - 75k 75k - 110k 110k+

Commentary on Finance and Accounting Roles and Remuneration in Hong Kong for 2018

Finance and Accounting in Commerce & Industry

General market conditions continue to be conservative into 2018. Local market knowledge and Chinese language skills are a preference among hiring managers who are relying less on international hires. The result is that even high quality candidates on the senior end need to prepare for a longer search cycle.

Within media we have seen a growing trend of reorganisation. Promotion from within for replacement hires has meant a streamlining of overall headcount. 

Retail remains quiet though the upturn trend has started. The sector has learned the lessons of quick expansion in the past, so the approach we are seeing to replacement and new hires is that of steady growth. Property also continues to enjoy steady growth, whilst we are seeing high growth within fintech.

As competition for positions remains strong, qualifications are increasingly important. Chartered Public Accountant and Association of Chartered Certified Accountants qualifications remain essential. Chartered Institute of Management Accountants and Six Sigma qualifications continue to be valued, and recently added to the list are a new trend in qualifications around internal audit. Chartered Fraud Examiner and Chartered Internal Auditor are attractive qualifications as large listed groups and MNCs with regional coverage in the market are focusing on strengthening their control and compliance practices.

Salary increments are conservative within the 3-5% range, while candidates can expect 10-15% for moves.

Finance and Accounting in Financial Services

Throughout the year we have seen a consistent demand for positions in management and financial reporting (FRR), including financial analyst and controller, across investment and corporate banks, asset management, private equity and the life insurance sector.

Financial recruitment continues to be competitive for candidates, especially for roles requiring specific experience and skills in line with regulatory reporting requirements or business domains within the financial sector. Many clients are now looking for candidates who possess diverse skill-sets from backgrounds beyond accountancy and reporting, to take on roles incorporating middle office functions, such as business control and risk analysis.

Salary increments of up to 20% can be expected for moves.

Team Leader | Finance & Accounting
+852 3907 3932
dyung@morganmckinley.com.hk