2018 Financial Services Operations Salary Guide
The 2018 Hong Kong financial services operations salary guide provides expected salary ranges and contract rates for FS operations professionals from analyst to MD.
(HKD per month)
|Role||Analyst||Associate / AVP||VP||Executive Director/
|Trade Support||25k - 40k||40k - 75k||75k - 115k||120k - 150k||165k +|
|Client Services||25k - 40k||40k - 75k||75k - 100k||110k - 125k||125k +|
|Settlements & Clearing||18k - 28k||30k - 55k||55k - 75k||80k - 100k||108k +|
|Documentation||20k - 30k||30k - 55k||55k - 80k||70k - 80k||108k +|
|Business Analyst / Projects||30k - 40k||45k - 75k||75k - 100k||110k - 130k||150k +|
|Client Onboarding||25k - 40k||40k - 75k||75k - 115k||120k - 150k||125k +|
|Loans Administration||20k - 25k||25k - 35k||40k - 60k||60k - 75k||83k +|
|Product Control /
|25k - 35k||40k - 65k||70k - 90k||100k - 120k||108k +|
|Asset Servicing||20k - 30k||35k - 50k||55k - 75k||75k - 100k||108kl+|
|Cash Management||20k - 30k||35k - 50k||55k - 70k||75k - 100k||108k+|
(HKD per month)
|Role||Analyst||Associate / AVP||VP||Director||Senior Director|
|Trade Support||18k - 35k||35k - 60k||60k - 80k||80k - 110k||110k+|
|Client Services||18k - 35k||35k - 60k||60k - 80k||80k - 110k||110k+|
|Settlements & Clearing||15k - 30k||30k - 55k||55k - 70k||70k - 100k||100k+|
|Documentation||15k - 30k||30k - 55k||55k - 70k||70k - 100k||100k+|
|Business Analyst / Projects||20k - 35k||35k - 55k||55k - 80k||80k - 110k||110k+|
|Client Onboarding||15k - 35k||35k - 60k||60k - 80k||80k - 110k||110k+|
|Loans Administration||15k - 30k||30k - 55k||55k - 70k||70k - 100k||100k+|
|Product Control / Reconciliations||20k - 35k||35k - 60k||60k - 80k||80k - 110k||110k+|
|Asset Servicing||15k - 30k||30k - 55k||55k - 70k||70k - 100k||100k+|
|Cash Management||15k - 30k||30k - 55k||55k - 70k||70k - 100k||100k+|
General sentiment for 2017 picked up significantly in the second and third quarters with a greater volume of activity compared to the same period in 2016. This is likely to be due to better conditions globally and in Hong Kong. The US election result has given rise to an optimistic view for the year which is driving stronger confidence in capital markets and therefore approvals for headcount across various disciplines. A greater political certainty following the appointment of Hong Kong’s new Chief Executive has created a more positive market than in the previous two years.
While outsourcing trends continue within financial operations back-office, we are seeing ongoing increased demand within mid-office functions such as business control, client on-boarding and KYC, with buoyant roles across sectors and particularly within investment banks, transaction banking and private banks.
Within the business control function, given the continued tight regulatory environment of the financial sector, we are experiencing a rise in the demand of ‘first line of defence’ specialists, for example in business control and governance, transaction assurance and trade monitoring. We are also seeing a rising number of candidates interested in exploring this field.
There is a lot of buzz around process re-engineering and operational transformation through technological advances, driving change management. New processes and automation are being invested in to improve operational efficiency. We are seeing an emerging trend in project management and change management hires responsible for operational process re-engineering, both on a permanent and contracting basis.
Chinese and Asian banks have been consistently active in supplying requisitions to the market in the last few years, including increasing headcounts for new hires to support expansions. European and US banks remain focused on replacement hires and are open to overseas candidates. Salary increments for moves remain conservative across the board at 15-18%.