POSITIVITY, GROWTH
AND DEVELOPMENT:UNDERSTANDING ASIA’STALENT AND STRATEGISINGFOR THE FUTURE
The 2019 Hays Asia Salary Guide

CONTENTS
Introduction

3Market Overview & Trends

4

Salary Policy

6

Recruitment Trends

10

Economic Outlook

17

Further Employer Insights

18

Employee Trends

19

Further Employee Insights

23

Salary Information24

Accountancy & Finance/Audit, Risk & Compliance25

Banking & Financial Services

39

Construction & Engineering

49

Digital Technology

52

Education

58

Finance Technology

59

Human Resources

70

Information Technology

74

Insurance

82

Legal

87

Life Sciences

90

Manufacturing & Operations

95

Marketing & Digital

104

Office Professionals

108

Procurement & Supply Chain

111

Property

115

Sales

118

Recommendations for employers

121

Recommendations for employees

122

INTRODUCTION

If 2018 was a periodof new dawns andregrowth, then 2019 isvery much a year forconsolidation,enhancement andbuilding long-lasting
success for the future.
There is great reason for positivity in 2019, withbusiness activity once again up year-on-year andpredictions for yet more growth in the year ahead.
Likewise, hiring outstripped predictions and continued
on a three-year upward trajectory, and there is also atrend towards improved career progression.
Although salaries may not have risen as much as
expected, employees are content with their current
level of remuneration overall. In addition, they are
expectant that salaries will increase again in the
coming year by between three and six per cent, with
employers in agreement.

has not in fact seen improvement over the year,
which may be related to the fact that almost a thirdof companies fail to promote their flexible options.
While there is much to be encouraged by, there is apotential concern surrounding employee skill levels,with many believing that their skillsets will still be indemand five years from now, spending just one totwo hours per week on upskilling. However, withcompanies claiming that skills shortages arehampering operations and citing a change of skillset
as the primary reason for restructuring, employee
mindsets may have to evolve.
As the 2019 Hays Asia Salary Guide shows, ourregion is primed for a year in the ascendency and I
look forward to discussing the full range of issues
with many of you soon.
In the meantime, I hope that the guide will provide
you with the insights that will get your business off
to a flying start in 2019.
Richard Eardley – Managing Director Asia

Work-life balance retained its importance for the
majority of employees, with it once again being the
key reason to stay in current roles. Interestingly,
candidates also noted that their work-life balance

Survey highlights
Employers

38%

Intend to increase salaries by above
3% but less or equal to 6% in 2019

Employees
Expect their salary to increase
from above 3% but less or equal to 6%

25%

49%

Predict their permanent
staff levels will
increase in 2019Are looking for a new job due
to their salary/beneﬁt package

60%

65%

Are restructuring theirdepartment/organisation
to keep up with changing
business needs

Believe their current skills
will still be in demand in
ﬁve years’ time

67%

59%

Say the most sought-after
skills are hard skills

Say the ability to workfrom home/mobile
working is mostimportant whenlooking for a new job

57%

64%

Say skill shortages had anegative impact on the‘productivity’ of theirorganisation in 2018

Say work-life balance is thereason why they won’tchange jobs in 2019

42%

36%

See the general outlook for the local
economy as strengthening in 2019

Spend 1-2 hours a weekenhancing theirprofessional skills

37%

MARKET OVERVIEW & TRENDS

69%
OF EMPLOYERS ENVISAGE
BUSINESS ACTIVITY TO INCREASE
IN THE NEXT 12 MONTHSBUILDING ON POSITIVITY
LOOKING AHEAD TO ASIA’S BRIGHTER FUTURE
Noting so much positivity in our research, we
expect that Asia in 2019 will see appreciable
growth, particularly if contented employees
can see their skills improved upon.

However, as 21 per cent of employees do no additional
professional enhancement out of working hours, and a further
37 per cent spend just one or two hours, it is perhaps rather
surprising that the majority (67 per cent) feel that their current
skillsets will be in demand ﬁve years from now. Employees in
Mainland China are most pessimistic about their prospects,
with 12 per cent feeling that their skills will become redundant.

A strong augmentation in business activity is the primecause for optimism, with 68 per cent of employers noting an
increase over the past year, continuing a three-year streak ofimprovement since 2017. Top improvers were Japan with a 77
per cent increase, while Mainland China was the only region
to see less activity than 2018 (60 per cent from 62 per cent).
Looking to the year ahead, optimism continues with all regions
again foreseeing advancement (69 per cent).

Salaries are on the mind of employees seeking new
employment, with it being the primary consideration of 60 per
cent of respondents. However, overall employees are satisﬁedwith compensation packages (61 per cent), though only ﬁve
per cent were very happy.

This increased activity is coupled with a generally favourable
economic outlook as 36 per cent of employers envisage theeconomy strengthening, having an encouraging reaction
on recruitment.
Staff levels have risen for each of the last three years (41, 43
and 47 per cent), and in 2019 employers expect this trend tocontinue as 49 per cent predict increases. However, there isless comfort for jobseekers in Singapore and Malaysia, where
18 per cent of employees forecast decreasing headcounts.
With this expected furtherance in hiring, companies are on thelookout for highly-skilled candidates, with hard skills being
most sought-after (59 per cent). Key amongst these hard skills
is project management at 55 per cent, with only Japan and
Malaysia citing other skills as their primary preference (foreign
language ﬂuency and statistical analysis and data mining,respectively). Of soft skills, problem solving (75 per cent) was
the clear skill of choice across all regions.
Almost half of employers believe that they currently possess
the talent they need (49 per cent) with 33 per cent feelingotherwise, and for the third year in a row, employers in Hong
Kong are most reassured and Japan the least.

Employees in Hong Kong were most satisﬁed with theircompensation, with a combined 64 per cent being positive,
and though 41 per cent of Malaysian employees claim to bedissatisﬁed to some extent, it is a marked improvement on
2018 (62 per cent).
There is a general feeling that salaries will rise over the
coming year, as both employees and employers expect
incrementation of between three and six per cent (25 and 38
per cent respectively). The primary criterion for employers
when offering raises is individual performance (89 per cent),
particularly in Malaysia, where 92 per cent of employers cite it
as their number one determinant.
This salary satisfaction and expectation for further
augmentation perhaps explains why 64 per cent of all
employees felt no need to request a raise over the last 12
months; however, employees should take note that of those
who made requests, almost two thirds were granted.
As our research shows, there is plenty to look forward to in
the year ahead, though there are areas in which employers
and employees can improve. However, with the right building
blocks already in place and optimism in a wide number ofareas, 2019 is a year in which Asia should be looking forward.

Yet, our research shows that 93 per cent of employees feel thatskills shortages are hampering effective operations to somedegree. That ﬁgure climbs to a staggering 98 per cent in Japan,
Singapore has seen improvements, with 12 per cent answeringin the negative, up from six per cent the year before.
To make matters worse, conﬁdence in employers’ ability tolocate the skills to meet their needs in 2019 is decreasing.
Just 55 per cent feel that skills requirements will be met,
down from 66 per cent in 2018, and uniformly all regions see
declines of ten per cent or more.
The greatest negative impact of this skills shortage is inproductivity (64 per cent) with Malaysia, at 71 per cent, thehardest hit. Employers from all regions put skills shortages
down to a lack of training and professional development (45per cent), and for the third year in a row, the remedy for the
problem is considered upskilling.

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 andcompilation 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.

SALARY POLICYSALARY INCREASES
During the last 12 months have your employees’ salaries changed?

15%

27%

37%

14%

7%

Nil

Up to 3%

From 3% to 6%

From 6% to 10%

More than 10%

Average increase by country/region

Mainland China

Japan

3% to 6%Up to 3%

Hong Kong

3% to 6%

MARKET OVERVIEW & TRENDS: SALARY POLICY

Malaysia

3% to 6%Up to 3%
3% to 6%Singapore

Nil

Mainland China 1212Hong Kong 1127

36Singapore 17

6 | 2019 Hays Salary Guide - Asia

From
3% to 6%From
6% to 10%

30
12

46
17

25
46

34

More
than 10%

1045Japan 20
Malaysia 14

Up to 3%

3 6
16

34

5

7
10

5

SALARY POLICYSALARY INCREASESOver the next 12 months, how are your employees’ salaries likely to change?

13%

32%

38%

12%

5%

Nil

Up to 3%

From 3% to 6%

From 6% to 10%

More than 10%

Average increase expected by country/region

Mainland China

Japan

3% to 6%Up to 3%

Hong Kong

3% to 6%

Malaysia

3% to 6%Up to 3%Singapore

Nil

Mainland China 8

13Hong Kong 9

35

Singapore 19

From
3% to 6%44

From
6% to 10%

8
9

52
22

24
48

40

More
than 10%27
44

Japan 18
Malaysia 13

Up to 3%

3 3
12

30

3

5
8

3

2019 Hays Salary Guide - Asia | 7

SALARY POLICYBENEFITS
Do you give beneﬁts in addition to salary and bonus?

80% 20%Yes

No

MARKET OVERVIEW & TRENDS: SALARY POLICY

If yes, which of the following are provided?*

73%

31%

25%

25%

23%

Health/medical
beneﬁts

Life assurance

Health andwellness program

PensionCar/car allowance

19%

19%

18%

14%

13%

6%

Financial support
for study

Housing
allowance

Day off foryour birthday

Club/gym
membership

Other

Children’s
education

6%

6%

5%

Hardshipallowance

Tax equalisation

Private expenses*More than one answer provided

What factors do you think are the most important when considering an employee’s request for a pay rise, or giving
salary increases to current employees?*

89%

63%

56%

47%

46%

Individual
performance

Organisational
performance

Responsibilitiesof the role

Benchmarking
againstsector/industry

Team/department/
office performance

36%

28%

17%

13%

11%

6%

Experience/expertise

Organisation's
set pay structure

Seniorityof the role

Benchmarking
against othersectors/industries

Length of service

Other*More than one answer provided

8 | 2019 Hays Salary Guide - Asia

SALARY POLICY
BONUSES
What percentage of staff will be awarded bonuses this year?

$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
11%

16%

14%

11%

48%

Nil

Up to 10%

From 10%
to 20%

From 20%
to 50%

More than 50%

Are bonuses related to*:

85%

84%

43%

10%

3%

Individual
performance

Company
performance

Team performance

Guaranteed

Hours billed

2%
Other

*More than one answer provided

The Hays Global Skills Index offers insight into the challenges
faced by organisations as they search for themost sought-after talent.
Scan the barcode to watch a short video
introducing the “Index”.
hays-index.com

2019 Hays Salary Guide - Asia | 9

RECRUITMENT TRENDS
STAFFING
Over the last 12 months, have permanent staff levels in your department...

18%

Decreased

35%

Remainedthe same

47%

Increased

MARKET OVERVIEW & TRENDS: SALARY POLICY & RECRUITMENT TRENDS

In the next 12 months, do you expect permanent staff levels in your department to...

15%

Decrease

36%

Remainthe same

49%

Increase

How often do you employ temporary/contract staff?

33%

29%

26%

12%

Regular,ongoing basis

Special projects/
workloads

Exceptional
circumstances

Never

In the next 12 months, do you expect your use of temporary/contract staff to...

Decrease

13%
62%

Remainthe same

Increase

10 | 2019 Hays Salary Guide - Asia

25%

RECRUITMENT TRENDS
STAFFING
Which of the following ﬂexible working options does your organisation currently offer to your knowledge?

39%

38%

30%

28%

18%

Home orremote working

Flexi-timeworking hours

None

Informal
ﬂexible working

Part-time
employment

5%

4%

3%

1%

1%

Compressed hours

Job sharing

Term-timeworking hours

Phased retirement

Other*More than one answer provided

What percentage of your organisation’s workforce do you believe is aware of the ﬂexible working options available to them?

Mainland China
Hong KongJapan
Malaysia
Singapore

Fewer than10%

11-30%

31-50%

51-75%

Over 76%

26%
17%
12%
13%
17%

11%
11%
6%
7%
5%

8%
8%
9%
7%
7%

4%
10%
6%
7%
14%

20%
21%
51%
22%
29%

We do not promote
our ﬂexible working
options to all staff

31%
33%
16%
44%
28%

Is it your policy to counter-offer staff when they resign?

10%

61%

29%

Yes

SometimesNo

Of those counter offered, how long did they stay?

4%

15%

22%

20%

39%

Stayed less than
3 months

Stayed3 to 12 months

Stayed longer than
12 months

They didn’t stay

Not sure

2019 Hays Salary Guide - Asia | 11

RECRUITMENT TRENDS
DIVERSITY & MERITOCRACY
What percentage of women do you have in management positions?

Across the region

30%
Mainland China

Japan

35%

19%
Hong Kong

33%
Malaysia
Singapore

35%

MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS

29%
What percentage of foreign employees do you have in your organisation?*

Across the region

15%
Mainland China

Japan

6%

10%
Hong Kong

18%
Malaysia
Singapore

13%

28%*Foreign means non-permanent citizenship or resident of the country/region

12 | 2019 Hays Salary Guide - Asia

RECRUITMENT TRENDSSKILLS SHORTAGES
What skills are most sought-after by your organisation?

41%

59%

Soft skills
Psychological/emotional competencies

Hard skills
Teachable/technical

When recruiting new staff in 2019, which of these soft skills are important to you?*

75%

70%

63%

50%

50%

Problem solving

Team working

Verbalcommunication

Critical thinking

Interpersonal skills

44%

42%

41%

40%

36%

35%

Leadership

Analytical/
quantitative skills

Flexibility

Attention to detail

Resilience

Time management

33%

23%

Writtencommunication

Negotiation skills*More than one answer provided

When recruiting new staff in 2019, which of these hard skills are important to you?*

55%

49%

34%

33%

28%

Projectmanagement

Statistical analysis
and data mining

Foreign language
ﬂuencyComputer skills

A degree(or other academic
qualiﬁcation)

26%

14%

13%

13%

12%

12%

An industry
speciﬁccertiﬁcation

Accounting or
bookkeeping

Programming
languages

Social media
management

Cloud and
distributed
computing

Network
and information
security

9%

8%

7%

Coding ability

UX or UI design

Web architectureand development
framework*More than one answer provided

2019 Hays Salary Guide - Asia | 13

RECRUITMENT TRENDSSKILLS SHORTAGESDo you think your organisation has the talent needed to achieve current business objectives?

49% 33% 18%
YesNo

Not sure

For which areas have you recently found it difficult to recruit?

Accountancy & Finance

Entry toMiddleSenior
middlemanagement management
management
14%
20%
11%
Operations

Entry toMiddleSenior
middlemanagement management
management
11%
13%
8%

Banking & Financial Services

7%

8%

7%

5%

Production

9%4%Distribution

5%

5%

3%

Property/Facilities Management

3%

5%

3%

Engineering

12%

14%

7%

Procurement

5%

9%

5%

Human Resources

7%

13%

8%

Research & Development

8%

12%

7%

IT

17%

19%

9%

Sales

21%

23%

14%

Legal

3%

8%

5%

Supply Chain

7%

9%

6%

Marketing & Digital

10%

17%

10%

MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS

Will skills shortages hamper the effective operation of your business/department in 2019?

46% 47% 7%
Yes without a doubt

Yes there will
be some impact

No

In what areas, if any, have skill shortages had a negative impact on your organisation?*

64%

43%

43%

43%

42%

Productivity

Ability todeliver projects

Businessdevelopment

Growth/expansion

Employeemorale

37%

34%

34%

15%

12%

3%

Innovation/
creativity

Customer/client service

Revenue/proﬁt

Increased
overtime pay

Absenteeism
due to stress

No impact

1%
Other

*More than one answer provided

14 | 2019 Hays Salary Guide - Asia

RECRUITMENT TRENDSSKILLS SHORTAGES
What do you think are the main causes of skills shortages in your sector/industry?*

45%

39%

28%

27%

23%

Training
and professional
development

Competition forroles/job
opportunities

Lack ofprogression
opportunities

Fewer people entering
the job market
in your industry

Perception/
stereotyping

22%

15%

12%

6%

Time required tocomplete necessary
qualiﬁcations/training

Cost ofqualiﬁcations

Lack of awarenessof opportunitiesin schools/universities

Other*More than one answer provided

What action have you taken to address immediate skill shortages within your organisation?*

62%

47%

37%

24%

22%

Up-skilledcurrent workforce

Improved
attraction strategy

Transferred
employees
betweendifferent functions

Recruited workers
from overseas

Recruited contract/
temporary workers

8%2%

No action taken

Other*More than one answer provided

2019 Hays Salary Guide - Asia | 15

RECRUITMENT TRENDSSKILLS SHORTAGESAre you currently restructuring your department/organisation to keep up with changing business needs?

65% 35%Yes

No

MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS/ECONOMIC OUTLOOK

If yes, what has/have been the driver(s)? *

50%

31%

30%

19%

13%

Change in required
skills set

Requirement
for a more
ﬂexible workforce

Digitaltransformation

Outsourcing

Merger/acquisition

12%

12%

7%

4%

Downsizing

Other

Offshoring

Inshoring*More than one answer provided

16 | 2019 Hays Salary Guide - Asia

ECONOMIC OUTLOOKBUSINESS ACTIVITY
Over the next 12 months, how conﬁdent are you that you will be able to recruit candidates with the skills needed tomeet your organisation’s needs?

5%

50% 42% 3%

Very conﬁdent

Conﬁdent

Not very conﬁdent

Not at all conﬁdent

During the past 12 months, has business activity increased/decreased for your organisation?

14%

18%

68%

Decreased

Remained the same

Increased

Over the next 12 months, how do you expect your organisation’s activity levels to change?

9%

22%

69%

Decreasing

Remaining the same

Increasing

Do you see the general outlook for the local economy in 2019 as:
Mainland China$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
30%

31%

39%

Weakening

StaticStrengthening

Hong Kong$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
30%

45%

25%

Weakening

StaticStrengthening

Japan$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
9%

50%

41%

Weakening

StaticStrengthening

Malaysia$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
21%

40%

39%

Weakening

StaticStrengthening

Singapore$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
19%

45%

36%

Weakening

StaticStrengthening
2019 Hays Salary Guide - Asia | 17

MARKET OVERVIEW & TRENDS: FURTHER EMPLOYER INSIGHTSFURTHER EMPLOYER INSIGHTS

18 | 2019 Hays Salary Guide - Asia

80%of employers give their employees
beneﬁts in addition to salary/bonus

64%of employers say bonuses
form part of their organisation's
remuneration package for all staff

51%

of employers said overtime/extra hours
in their organisation has remained
the same over the last 12 months

52%of employers said theirorganisation has formal diversity
policies and practices in place40%of employers said they are
not sure how well their formal diversity
policies and practices are adhered to64%

of employers say the primary
criteria for promotion in theirorganisation is based on performance61%of employers would consider employing orsponsoring a qualiﬁed overseas candidate

EMPLOYEE TRENDS
WHAT DO EMPLOYEES THINK?
How do you expect your salary/rate of pay to change in 2019?

13%

23%

25%

17%

22%

Nil

Up to 3%

From 3% to 6%

From 6% to 10%

More than 10%

Average increase by country/region

Mainland China

Japan

More than 10%

Up to 3%

Hong Kong

Malaysia

3% to 6%Up to 3%Singapore

Nil

Mainland China 4
Hong Kong 10

5

15

32
34

Singapore 17

Morethan 10%

18

17

31
29

From
6% to 10%

14

42
14

From
3% to 6%44

24

Japan 27
Malaysia 10

Up to 3%

6

22
27

8

23
12

15

2019 Hays Salary Guide - Asia | 19

MARKET OVERVIEW & TRENDS: EMPLOYEE TRENDS

3% to 6%EMPLOYEE TRENDS
WHAT DO EMPLOYEES THINK?
To what extent do you agree that your organisation is transparent about how pay levels and pay rises are set?

12%

25%

30%

17%

16%

Strongly agree

Slightly agree

Neither agree
nor disagree

Slightly disagree

Strongly disagree

How would you rate your work-life balance?

13%

37%

32%

13%

5%

Very good

Good

Average

Poor

Very poor

MARKET OVERVIEW & TRENDS: EMPLOYEE TRENDS

Do you currently use any of thefollowing ﬂexible working options?*

Which of the following ﬂexible working options
if you were looking for a new job would be
important to you when considering a new role?*

4%Part-time working

25%

Flexi-time3%

Job sharing

31%

Home or mobile working

57%

3%

Compressed hours

28%

2%

Term-time working

8%2%Annual hours

8%

17%

Informal ﬂexible working

29%

0%

Phased retirement

4%

45%

None of the above

12%

2%

Other

1%

*More than one answer provided

7%
54%
7%

*More than one answer provided

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20 | 2019 Hays Salary Guide - AsiaEMPLOYEE TRENDS
WHAT DO EMPLOYEES THINK?
Would you move abroad for a new job opportunity with your current or a new employer?

57% 43%Yes

No

How many hours outside of your job do you spend enhancing your professional skills?

21%

37%

27%

10%

3%

2%

None

1 to 2 hours
per week

3 to 5 hours
per week

6 to 10 hours
per week

10 to 24 hours
per week

More than 24 hours
per week

Do you believe your current skills will still be in demand by employers ﬁve years from now:

67%

9%

24%

Yes

No

Not sure

Do you think you are fairly evaluated for your performance by your current organisation?

62% 38%Yes

No

Are you happy with your total compensation package provided by your employer(including salary, bonuses & beneﬁts)?

5%

56% 34% 5%Very satisﬁed

Satisﬁed

Dissatisﬁed

Very dissatisﬁed

In the past year, have you asked for a pay rise?

22%

14%

64%

Yes, successfully

Yes, not successfullyNo2019 Hays Salary Guide - Asia | 21

EMPLOYEE TRENDS
WHAT DO EMPLOYEES THINK?
Are you actively looking for a new job?

31%

24% 45%Yes

NoNo, but I’m open to
new opportunities

If yes, why are you looking for
a new employer?*

60%

Salary or beneﬁt package

39%

45%

Career progression

31%

24%

Training ordevelopment opportunities

20%

17%

Job security

31%

20%

Work-life balance

42%

50%

New challenges

27%

17%

Work location

30%

38%

The management style& company culture

34%

Flexible working options

24%

10%

MARKET OVERVIEW & TRENDS: EMPLOYEE TRENDS

5%*More than one answer provided

22 | 2019 Hays Salary Guide - Asia

If you aren’t looking to move, what makes you
want to stay with your current employer?*

Other

7%
*More than one answer provided

FURTHER EMPLOYEE INSIGHTS

54%

of respondents are Generation X(born 1961 to 1982)29%

of respondents have been with their current
employer for above two, but less or equal
than ﬁve years

45%of respondents indicatedthey are not looking for a new job,
but would be open to new opportunities

57%

of respondents would move abroad fora new job opportunity with theircurrent or a new employer

62%

of respondents believe
they are fairly evaluated on
their performance by their organisation

61%of respondents are very satisﬁed/satisifed
with their total compensation
package provided by their employer

41%

of respondents believe
there is scope for career progression
within their organisation

2019 Hays Salary Guide - Asia | 23

SALARY INFORMATION: SALARIES & SECTOR OVERVIEWSSALARIES & SECTOROVERVIEWSNAVIGATE YOURWORLD OF WORKHOW TO USE THIS GUIDE
Using our salary tables
Typical salary ranges are represented in local
currencies in ‘000 excluding Japan which is stated inmillions. Refer to the notes section under the salarytable to determine if other benefits are included.
HR Director/Head of HR (<8 yrs)
Malaysia

180 - 240

Salary range• Please note all salaries are representative of the total package valueMAINLAND CHINA
THOUGH CANDIDATES REMAINEDCAUTIOUS IN 2018, THE CONSUMERGOODS SECTOR IS MAKING BOLDCHANGESDue to 2018’s uncertain economic
environment, accountancy and financeprofessionals in Mainland China erred on theside of caution when it came to employmentchanges. At the same time, the number of
newly created vacancies within MNCs
declined when compared to previous years,
resulting in the majority of accountancy
vacancies targeting replacement rather thanbusiness expansion.
Of the vacant roles, positions that remain
key in the support of business strategy
implementation in the Mainland China
market — commercial finance, ethics andcompliance, digital and e-commerce
finance — were in particularly highdemand. In the face of increasing market
regulation, the job market is likely tocontinue in much the same vein in 2019.
MORE OPPORTUNITIES IN SECOND AND
THIRD-TIER CITIESThe consumer goods industry — including
FMCG, retail, and luxury — is currently
undergoing a digital transformation, and inorder to help develop online businessmodels the new function of digital/
e-commerce finance has been generated.
Industrial finance talent in second andthird-tier cities with high mobility andexperience in joint ventures may expect
more opportunities and higher salary
packages in the coming year, while othermajor industries, such as life sciences,continue their focus on the recruitment ofcompliance talents to adhere to extensive
regulatory practices.
As the cloud and telecommunications(TMT) industry thrives, we expect to see a
growing demand for financial reporting
professionals in order to meet therequirements and standards of listedcompanies. In addition, an increasing
number of TMT companies are shifting
their focus towards Beijing as a strategic
market. To facilitate company transitions,multiple opportunities will be available tosenior finance professionals. However, as
the local talent pool of candidates with
the necessary experience is relatively
small, companies may need to widen theirsearch to include international candidates
for roles such as CFO or head of financial
planning and analysis (FP&A).
For domestic companies, the outlook forfinance directors and chief finance officers(CFOs) is expected to be positive in the
coming year, and most roles will be newly
created in view of IPO plans and overseas
business development.
MNC CANDIDATES LOOK MORE TO
LEADERSHIP THAN REMUNERATION
The majority of the candidates seeking
opportunities in MNCs place higher value
on a company’s business performance andsenior leadership team than salary
increments. However, for domestic hightech and TMT markets, salaryaugmentation and annual reviews areimportant factors for potential employees.

HONG KONGCOMPLIANCE IS COMING TO THE FORE,
WHILE THE EXPANSION TO HONG KONG
OF VIRTUAL BANKS AND MAINLANDCHINA FIRMS MAKE FOR MORE
CANDIDATE OPPORTUNITIESWith increasing technologicaldevelopments in the Hong Kong market,
including the emergence of AI, cloudtechnology and block chain, it is no
surprise that demand for candidates withdifferent skillsets is at its peak within theaccountancy and finance and risk andcompliance fields.
As banks in Hong Kong apply for virtualbanking licenses and continue adherence
to strict e-banking regulations, candidates
within the retail banking operational risk
sector are highly sought after. In addition,
fintech is an area in which we expect tosee exponential growth for the foreseeable
future, resulting in the demand for fraud
risk candidates with knowledge of theFaster Payment System (FPS).
MID AND UPPER-LEVEL CANDIDATESREQUIRED FOR VIRTUAL BANKS
The emergence of virtual banks has also
led to the search for mid to senior-level
finance managers and financial controllers,particularly those who not only haveexperience with Hong Kong Monetary
Authority (HKMA) regulatory reporting,but also in the set-up of new financesystems. Adding to the challenge ofrecruiting for these roles, interpersonaland stakeholder management skills havebecome increasingly essential. The best fit
for this position can expect compensation
packages that offer salary increments ofaround 20 per cent.
Global markets compliance advisory
specialists have been in greater demand,
particularly in FICC and prime brokeragecompliance. The private sector is picking
up with alacrity in this market in responseto heightened business activity, and as aresult, control room, corporate financecompliance and research compliance areniche skillsets where candidates enjoy
leverage in the talent-short market.
As the number of institutions from
Mainland China expand their operations toHong Kong, candidates for roles withinmarket and post-deal credit risk
management in Chinese banks will be ingreat demand in the foreseeable future.
However, hiring activity by internationalbanks may be static in the coming year.
HEADCOUNTS MINIMISED IN THE
COMMERCIAL SECTOR AS THE THREAT
OF TRADE WAR LOOMS
Within the commercial sector, the area
encompassing both non-banking and nonfinancial services companies, the market
remained generally steady through 2018.
Organisations operating in this domain
have been relatively conservative when it
comes to salaries and year-end bonuses.
As the possibility of a trade war between
Mainland China and the US rises, Hong
Kong, as one of the largest trading hubs in
Asia, could find its markets react withvolatility in the coming year.
Under such conditions, companies in Hong
Kong are less likely to create additional
headcounts to expand their finance teams.
However, to attract top talent we still
expect companies to offer a reasonablesalary increment for critical positions in
2019. Many sizeable companies are
restructuring their finance teams in C&I,
resulting in the need for candidates withextensive experience, particularly ingeneral ledgers. Companies with suchspecific needs will have a greater tendency
towards competitiveness when it comes toattracting top candidates.

2019 Hays Salary Guide - Asia | 25

SALARY INFORMATION: ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE

ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCEACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCEJAPAN
THE SECTOR IS MAKING STRONG GAINS,WITH AGGRESSIVE COMPETITION FOR
FP&A ANALYSTS AND JAPANESE OR US
CPA-QUALIFIED CANDIDATESSALARY INFORMATION: ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE

The Japanese job market for accountancy
and finance professionals continues to bebuoyant with qualified and experienced
candidates frequently receiving attractive
offers. There is a strong demand for arange of finance professionals including
accountants, finance planning analysts,
finance and accounting managers,
controllers and finance directors. This isapparent in small, medium, and largeorganisations across a broad range ofareas including consumer, retail, life
sciences, healthcare, technology,
manufacturing, financial services, andother services sectors.
In addition, there is strong demand foraccounting professionals with experiencein JGAAP and US GAAP; however, thecompetition is fiercest for qualified FP&A
analysts and managers with strong
business partnering experience andcommercial acumen. Major companies
may require up to six months to findqualified candidates for those roles andare therefore willing to consider highpotential finance professionals who
possess accounting or auditing
experience. Candidates with experience indriving process improvement within
finance or have strong leadership qualities
are particularly sought after.
Public accounting audit and advisory firms
are also hiring aggressively. This isparticularly evident as they look to recruit
Japanese or US CPA-qualified candidates
with as little as twelve months experiencein either public accounting firms orcommercial companies.
SERVICES SECTORS REQUIRE
BILINGUALISM, AND OVERSEAS
EXPERIENCE AN ADVANTAGE FOR
CHARTERED ACCOUNTANTS
The continued growth of Japanese tourism
has been beneficial for companies in retail,hospitality and other services sectors.
Partially driven by the depreciation of theJapanese yen, the sharp growth ininbound tourism has resulted in increased
consumption, creating a wealth of

26 | 2019 Hays Salary Guide - Asia

opportunities for finance professionals tojoin companies in those sectors.
Furthermore, the legalisation of gaming
resorts has led to an influx of gaming
companies to the Japan market in
preparation for the license application
process. We expect to see increased hiringin this industry in 2019.

MALAYSIA

We are also noting a particularly strong
demand for bilingual candidates —speaking Japanese and English — who hold
CPA or chartered accountant qualifications,are experienced in public accounting andhave spent a number of years in the financedepartment of a public listed company.
Candidates who can combine thesequalities with overseas experience for
either study or work are of particularinterest to multinational companies.

As Malaysia remains the Southeast Asia
location of choice for shared service
centres (SSCs), more and more MNCs areinvesting in the building of large centres
that house the majority or all of theirfinance functions to support their offices
both locally and across the APAC region.
This means that the demand for financeprofessionals experienced in accounts
payable, accounts receivable and generalledger will only continue to grow in 2019.

We foresee the competition for top talentcontinuing, especially where remunerationis concerned. Candidates can expect toreceive ten to 20 per cent increases intheir total compensation when moving to
a new position, with the best packages
being offered by companies in thehealthcare and life sciences, financial
services and consumer industries.
However, this competition comes not onlyin the form of domestic organisations, but
a number of multinationals across various
sectors also covet top level talent, offering
packages that include up to 30 per centtarget bonuses. Sign-on bonuses are also
becoming increasingly common.

BOOMING START-UP SECTOR LEADING TO
IMPLEMENTATION OF FINANCE TEAMS

WORK-LIFE BALANCE OVERTAKINGSALARIES IN CANDIDATE PRIORITIESOther benefits on the table frequently
include flexitime, the opportunity to workfrom home, training courses either inJapan or overseas and a detailed career
path within the organisation. Candidates
who feel overworked by their current
employers are increasingly considering
work life balance a driving factor, causing
many to forfeit a significant compensation
increase in favour of better working hours
and paid vacation leave. The minimum
number of paid holidays required in Japanis ten days and we are seeing a growing
number of candidates specifying holidays
as a key criterion in their job search.

SHARED SERVICES ARE STILL STRONG
AREAS FOR MALAYSIA
We foresee a promising year for the job
market in Malaysia’s accountancy andfinance industry as the economy continues
to improve.

Kuala Lumpur, with its perfectcombination of cost, culture and highspeed internet accessibility, maintains its
position as one of the world’s top cities inwhich to run tech start-ups, and is
attracting both home-grown andinternational organisations. As this sector
flourishes, more and more tech companies
will require finance teams to help run andoperate their businesses.
Due to recent changes in the Malaysian
government, a number of tax reforms
were put into place, such as thereplacement of GST with SST. This resulted
in a three-month tax holiday which,coupled with uncertainties surrounding
the new tax scheme, led to a decline intax-related hiring in Malaysia. Following
the implementation of SST, the hiring
market is expected to pick up once again,
with the focus remaining on professionals
who have transfer pricing knowledge in
addition to a familiarity with SST.

“Sign-on bonuses are
becoming increasingly
common in Japan.”ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE

INTERNATIONAL CANDIDATES AND
RETURNING MALAYSIANS KEY FOR
CAPITAL MANAGEMENT AND OTHER
SECTORS
Hiring in Malaysia’s banking sector remains
strong, where Malaysian returnees willcontinue to be attractive. This isparticularly evident in the areas of capitalmanagement, treasury product control,balance sheet management, ICAAP andliquidity management as the domestic
market tends to be behind international
candidates in these functions.
As inter-bank hiring poses an increasing
challenge, banks are now looking to adopt
new talent from outside the banking
industry, with the ‘Big Four’ accounting
firms and even commercial companies
being fertile candidate-hunting grounds.
Another trend that we have observedis that banks are saving costs inherent
in the training of new offers by making
counteroffers to retain their valued staff.

SINGAPORETHOUGH TURNOVER RATES DECREASEDIN 2018 AND AUTOMATION AND BUSINESSPROCESS OUTSOURCING (BPO) LED TODECLINING TALENT DEMAND, 2019 IS
EXPECTED TO SHOW IMPROVEMENT IN
THE SMALL AND MEDIUM-SIZEDFINANCIAL SERVICES MARKET
Accounting automation and the growth of
BPO has resulted in a slight downturn indemand for transactional accounting
employees in MNCs. As such, companies
are less willing to offer competitive
salaries to junior accounting staff.
However, qualified chartered accountants
and finance managers are still highly
valued as companies require them toensure corporate governance andcompliance standards are met.
With more transactional accounting
moving out of Singapore, the demand for
FP&A and business partnership roles has
increased. Within finance teams it isincreasingly common to create new roles
that require critical thinking andcommercial awareness, and financial
analysts are often expected to serve as
cross-functional business partners to work
closely with non-financial managers andhelp drive business growth. This ties inwith a heightened demand for analysts
who are experienced in working withsales, marketing, IT and procurement
teams, and both active and passive
candidates are regularly approached byeager employers.
Many companies are placing strongemphasis on the improvement of process
efficiencies. Finance employees with aproven track record of system work andprocess improvement initiatives tend toenjoy leverage and command higher
salaries. With M&A activity particularly
pronounced, employees who are able todisplay their value in company integration
procedures are highly coveted.

need for change agents with high-level
critical thinking skills as the core financefunction within the banking and financial
services market continues to evolve.

“Many companies in
Singapore are placing
a strong emphasis on
the improvement ofprocess efficiencies.”

SENIOR FINANCE ROLES SEE INCREASING
SALARIES, BUT ALSO GREATER DELAYS IN
THE RECRUITMENT PROCESS
Salary offers for senior finance positions
have risen, but the recruitment process forthese roles can be extensive and may takeseveral months as MNCs take their time
guaranteeing that they are securing thebest available talent in the market.
Elsewhere, when it comes to hiring inaudit, risk and compliance, the market
remains stagnant; however, there are someareas of growth, with technology and data
analytics-driven audit areas still vibrant.
CANDIDATE MOVEMENT EXPECTEDWITHIN THE SMALL AND MEDIUM-SIZE
BANKING AND FINANCIAL SERVICES
MARKET
Within the banking and finance sector in
2018, turnover rate decreased, as mostemployees were content to stay in theirroles due to the unpredictability of the job
market. Conversely, non-banking financial
services firms enjoyed a year of strong
growth as they were able to offer
competitive variable and performancebased bonuses. Banks, however, saw a slightstagnation in their employees’ salaries, while
many faced headcount freezes.
Nonetheless, there are signs that the
coming year will show improvement, withgreater movement within the small andmedium-size banking & financial services
market. In addition, there is an increasing

Top ﬁve business challenges CFOs will face over the next 12 months
Challenging economic environment

31%

Alignment of strategic requirements with
operational budget and workforce

28%

Skills and knowledge gap of my team

27%

Managing risk

26%

The digitalisation of the economy

25%

Data source: Hays Asia DNA of a CFO report released in July 20182019 Hays Salary Guide - Asia | 27

SALARY INFORMATION: ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE

In the manufacturing sector a number ofwell-established family-run businesses thathave remodelled their operations to suitthe multinational market. This revamp has
resulted in the need for candidates who
are well versed in ERP system
implementation and migration and havethe experience to maintain and overhaulinternal controls.

ACCOUNTANCY & FINANCECOMMERCE & INDUSTRY | SENIOR FINANCE
FINANCE DIRECTOR/CFO

SME

MID

MNC

Mainland China

700 - 1,000

1,200 - 2,500

1,000 - 3,000

Hong Kong

1,000 - 1,500

1,200 - 2,000

1,400 - 3,000Japan

10 - 15

12 - 25

15 - 30

Malaysia

240 - 420

300 - 720

480 - 900

Singapore

190 - 260

260 - 320

320 - 620

FINANCIAL CONTROLLER

SME

MID

MNC

Mainland China

450 - 700

600 - 900

600 - 1,300

Hong Kong

660 - 840

720 - 1,080

840 - 1350

Japan

10 - 15

10 - 1712 - 20

Malaysia

180 - 240

180 - 300

240 - 360

Singapore

140 - 180

170 - 210

190 - 250

SENIOR FINANCE MANAGER

SME

MID

MNC

Mainland China

300 - 500

450 - 600

500 - 800

Hong Kong

540 - 580

580 - 780

750 - 1,150

Japan

10 - 1210 - 1412 - 15

Malaysia

130 - 180

180 - 216

168 - 240

Singapore95 - 125

110 - 160

150 - 180

FINANCE MANAGER

SME

MID

MNC

Mainland China

200 - 400

250 - 500

350 - 550

Hong Kong

455 - 530

540 - 650

572 - 780

Japan

8 - 11

8 - 1310 - 14

Malaysia

84 - 120

120 - 180

140 - 180

Singapore

75 - 100

90 - 120

110 - 140

ASSISTANT FINANCE MANAGER

SME

MID

MNC

Mainland China

100 - 250

180 - 340

250 - 400

Hong Kong

420 - 480

480 - 550

585 - 680

Japan

6 - 10

8 - 10

8 - 12

Malaysia

72 - 84

84 - 96

84 - 96

Singapore

60 - 75

65 - 90

80 - 100SENIOR MANAGEMENT ACCOUNTANT

SME

MID

MNC

Mainland China

80 - 150

110 - 160

110 - 200

Hong Kong

264 - 384

336 - 480

360 - 540

Japan

6-8

7 - 10

8 - 12Singapore

80 - 100

90 - 120

110 - 150

NOTES
• Salaries are represented in local currencies• SME - Small to medium enterprise• Salaries do not include bonuses• MID - Medium to large• Top of range in MNCs implies regional role

• MNC - Multinational companies

28 | 2019 Hays Salary Guide - Asia

ACCOUNTANCY & FINANCECOMMERCE & INDUSTRY | SENIOR FINANCE
MANAGEMENT ACCOUNTANT

SME

MID

MNC

Mainland China

100 - 150

120 - 200

130 - 250

Hong Kong

265 - 300

300 - 360

330 - 410

Japan

5-8

7 - 10

8 - 12

Malaysia

84 - 102102 - 108108 - 120

Singapore

55 - 75

70 - 90

90 - 110SENIOR FINANCIAL ACCOUNTANT

SME

MID

MNC

Mainland China

130 - 180

150 - 190

160 - 250

Hong Kong

264 - 384

336 - 480

360 - 540

Japan

6-8

7 - 10

8 - 12Singapore70 - 90

80-11090 - 120

FINANCIAL ACCOUNTANT

SME

MID

MNC

Mainland China

100 - 150

130 - 150

130 - 180

Hong Kong

265 - 300

300 - 360

330 - 410

Japan

3-5

4-7

5-8

Malaysia

84 - 102102 - 108108 - 120

Singapore

55 - 75

65 - 90

78 - 100

FP&A DIRECTOR

SME

MID

MNC

Mainland China

N/A

N/A

800 - 1,200

Hong Kong

840 - 1000

960 - 1200

1,080 - 1,500

Japan

10 - 15

10 - 18

12 - 25

Malaysia

180 - 240

216 - 264

360 - 420

Singapore

160 - 180

180 - 220

210 - 250

FP&A MANAGER

SME

MID

MNC

Mainland China

N/A

N/A

300 - 600

Hong Kong

480 - 650

600 - 800

600 - 950

Japan

8 - 1210 - 15

10 - 18

Malaysia

130 - 180

120 - 192132 - 192

Singapore85 - 115

110 - 150

140 - 180

FINANCIAL ANALYST

SME

MID

MNC

Mainland China

120 - 150

150 - 180

180 - 250

Hong Kong

280 - 384

360 - 480

360 - 540

Japan

5-8

6 - 10

7 - 12

Malaysia

72 - 96

72 - 120

120 - 156

Singapore

60 - 85

75 - 95

90 - 110NOTES• Salaries are represented in local currencies• SME - Small to medium enterprise• Salaries do not include bonuses• MID - Medium to large• Top of range in MNCs implies regional role

• MNC - Multinational companies

2019 Hays Salary Guide - Asia | 29

ACCOUNTANCY & FINANCECOMMERCE & INDUSTRY | SENIOR FINANCETAX DIRECTOR/HEAD

SME

MID

MNC

Mainland China

600 - 750

700 - 900

800 - 1,500

Hong Kong

780 - 960

840 - 1,000

1,080 - 1,600

Japan

N/A

12 - 16

15 - 20

Malaysia

144 - 180

180 - 240

300 - 540

Singapore120 - 150

150 - 200

200 - 300

TAX MANAGER

SME

MID

MNC

Mainland China

250 - 450

300 - 500

450 - 900

Hong Kong

480 - 720

620 - 840

720 - 1,080

Japan

6 - 10

8 - 1312 - 15

Malaysia

96 - 144

144 - 216

216 - 264

Singapore85 - 115

110 - 140

150 - 180

TAX ACCOUNTANT

SME

MID

MNC

Mainland China

110 - 160

130 - 210

140 - 260

Japan

4-7

5-8

6 - 10

Malaysia

60 - 84

102 - 120

120 - 156

Singapore

50 - 70

60 - 80

70 - 100HEAD OF TREASURY/CORPORATE TREASURER

SME

MID

MNC

Mainland China

N/A

N/A

600 - 1,300

Hong Kong

840 - 1,080

960 - 1,200

1,200 - 2,000

Japan

N/A

12 - 16

12 - 18

Singapore

110 - 150

135 - 185

165 - 250

SENIOR TREASURY MANAGER

SME

MID

MNC

Mainland China

N/A

450 - 600

600 - 900

Hong Kong

N/A

N/A

780 - 1,000

Japan

N/A

12 - 15

15 - 18

Singapore90 - 120

110 - 150

140 - 170

TREASURY MANAGER

SME

MID

MNC

Mainland China

300 - 400

400 - 500

500 - 700

Hong Kong

420 - 480

480 - 650

600 - 940

Japan

N/A

10 - 1212 - 15

Singapore

75 - 95

85 - 115

110 - 150

NOTES
• Salaries are represented in local currencies• SME - Small to medium enterprise• Salaries do not include bonuses• MID - Medium to large• Top of range in MNCs implies regional role

• MNC - Multinational companies

30 | 2019 Hays Salary Guide - Asia

ACCOUNTANCY & FINANCECOMMERCE & INDUSTRY | SENIOR FINANCE
TREASURY SPECIALIST

SME

MID

MNC

Mainland China

100 - 150

130 - 150

150 - 250

Japan

N/A

6-9

8 - 10Singapore

55 - 70

65 - 85

75 - 100

TREASURY ACCOUNTANT

SME

MID

MNC

Mainland China

100 - 150

130 - 150

150 - 250

Hong Kong

N/A

180 - 420

300 - 480

Japan

N/A

5-8

7-9

Singapore

60 - 80

70 - 90

95 - 125

PROJECT CONTROLLER

SME

MID

MNC

Mainland China

190 - 250

250 - 400

450 - 1,300

Japan

4-6

6-8

6 - 10Singapore

145 - 165

155 - 185

175 - 200

PROJECT FINANCE MANAGER

SME

MID

MNC

Mainland China

N/A

220 - 400

350 - 600

Japan

7 - 10

8 - 12

8 - 15

Malaysia

120 - 156

156 - 180

180 - 216

Singapore90 - 120

110 - 130

120 - 140SHARED SERVICE CENTRE

Team Lead

Assistant Manager

Manager

Head of Shared
Service Centre

Mainland China

250 - 400

400 - 600

600 - 800

800 - 1,500

Malaysia

90 - 120

102 - 168180 - 300

240 - 480

Singapore

50 - 75

65 - 90

90 - 150

150 - 250

NOTES
• Salaries are represented in local currencies• SME - Small to medium enterprise• Salaries do not include bonuses• MID - Medium to large• Top of range in MNCs implies regional role

• MNC - Multinational companies

2019 Hays Salary Guide - Asia | 31

ACCOUNTANCY & FINANCECOMMERCE & INDUSTRY | ACCOUNTING SUPPORTGRADUATES

Assistant Accountant Graduate Accountant

Mainland China

65 - 120

55 - 100

Japan

3-5

3-5

Malaysia

54 - 66

42 - 48

Singapore

45 - 65

35 - 45SUPPORT

Accounts Receivable Accounts Payable

Credit Control

Bookkeeper

Mainland China

40 - 65

40 - 65

40 - 55

40 - 70

Hong Kong

176 - 300

176 - 300

220 - 404

176 - 300

Japan

3-5

3-5

4-7

3-5

Malaysia

30 - 54

30 - 54

36 - 60

N/A

Singapore

40 - 60

40 - 60

40 - 60

30 - 45

NOTES• Salaries are represented in local currencies• Salaries do not include bonuses

32 | 2019 Hays Salary Guide - Asia

ACCOUNTANCY & FINANCE
BANKING INDUSTRYFINANCIAL SERVICES

Financial Controller

Senior FinanceManager

Finance Director/CFO

Mainland China

900 - 1,200

600 - 1,000

1,200 - 2,000

Hong Kong

1,150 - 1,600

850 - 1,150

1,600 - 3,500

Japan

10 - 25

10 - 18

12 - 30

Malaysia

240 - 390

144 - 210

420 +Singapore

220 - 300

180 - 220

300 - 500

AssistantFinance Manager

Finance Manager

Tax Director/
Head of Tax

300 - 500

500 - 750

1,200 - 1,600

Mainland China
Hong Kong

420 - 540

540 - 840

1,400 - 2,200

Japan

7 - 12

8 - 1515 - 25

Malaysia

66 - 96

96 - 168204 - 300

Singapore

80 - 120

120 - 180

250 - 500

Tax Manager

Tax Accountant

Dept Head
Product Control

SeniorProduct Controller

Mainland China

500 - 800

250 - 400

1,200 - 1,600

800 - 1,200

Hong Kong

650 - 1,000

400 - 780

1,300 - 2,500

840 - 1,300

Japan

10 - 18

6 - 1218 - 20

12 - 16

Malaysia

132 - 200

60 - 120

252 - 360

156 - 240

Singapore

140 - 220

80 - 160

200 - 250

150 - 200

Treasury Accountant Treasury Manager

Product Controller

SeniorTreasury Manager

Mainland China

150 - 350

350 - 650

650 - 900

700 - 1,000

Hong Kong

420 - 550

800 - 1,100

500 - 800

1,100 - 1,500

Japan

7 - 1012 - 15

10 - 1415 - 18

Malaysia

72 - 120

120 - 216

84 - 160

216 - 350

Singapore70 - 120

140 - 180

80 - 140

180 - 300

Accounts
Receivable

Accounts Payable

Credit Control

Mainland China

60 - 120

60 - 120

200 - 500

Hong Kong

200 - 300

200 - 300

200 - 320

Japan

5-8

5-8

8 - 15

Malaysia

34 - 66

34 - 66

36 - 66

Singapore

50 - 75

50 - 75

50 - 90

NOTES• Salaries are represented in local currencies• Salaries do not include bonuses

2019 Hays Salary Guide - Asia | 33

ACCOUNTANCY & FINANCE
PROFESSIONAL PRACTICEADVISORY PRACTICESConsultant

Senior Associate/
Assistant Manager

Hong Kong

240 - 300

320 - 560

Japan

6-8

8 - 11

Malaysia

36 - 48

60 - 84

Singapore

35 - 45

50 - 70

Manager

Senior Manager

Director/Partner

Hong Kong

570 - 920

920 - 1,200

1,200 +

Japan

9 - 1112 - 15

18 +Malaysia

84 - 120

120 - 180

240 +Singapore

75 - 100

100 - 150

180 +

TAX

Tax Consultant

Senior Tax Consultant

Hong Kong

240 - 400

320 - 600

Japan

5-8

7 - 10

Malaysia

36 - 48

60 - 84

Singapore

40 - 60

60 - 90

Tax Manager

Senior Tax Manager

Tax Director

Hong Kong

570 - 920

920 - 1,200

1,200 +

Japan

10 - 1412 - 16

18 +Malaysia

84 - 120

120 - 180

240 +Singapore

100 - 150

150 - 180

180 +

NOTES
• Salaries are represented in local currencies• Salaries do not include bonuses

34 | 2019 Hays Salary Guide - Asia

AUDIT, RISK & COMPLIANCE
AUDITBANKING

AuditorSenior Auditor(AVP)

Audit Manager(VP)

Senior Audit
Manager (SVP)

Head of Audit/
Audit Director

Mainland China

250 - 400

350 - 600

600 - 800

800 - 1,000

1,000 - 1,600

Hong Kong

350 - 550

450 - 750

650 - 1,100

900 - 1,300

1,700 - 2,500

Japan

6 - 12

8 - 1410 - 16

12 - 18

12 - 25

Malaysia

48 - 60

60 - 96

96 - 180

180 - 240

240 - 480

Singapore

50 - 95

95 - 135

135 - 200

200 - 250

250 - 400

INSURANCE

Auditor/Senior Auditor

Assistant Audit
Manager

Audit Manager

Head of Audit/
Senior Manager Audit Director

Mainland China

120 - 200

150 - 250

250 - 450

500 - 800

650 - 1,000

Hong Kong

300 - 360

360 - 540

580 - 780

780 - 1,000

1,200 - 2,000

Japan

5-8

7 - 10

10 - 1412 - 15

15 - 19

Malaysia

42 - 60

60 - 84

84 - 144

144 - 240

240 - 480

Singapore

50 - 80

80 - 120

120 - 180

150 - 200

200 - 350

COMMERCE & INDUSTRY

Auditor/Senior Auditor

Assistant Audit
Manager

Audit Manager

Head of Audit/
Senior Manager Audit Director

Mainland China

120 - 250

180 - 300

300 - 500

500 - 700

700 - 1,500

Hong Kong

240 - 300

320 - 470

500 - 720

750 - 1,100

1,200 +

Japan

5-7

8 - 10

9 - 1313 - 15

15 +Malaysia

36 - 72

72 - 102108 - 144

144 - 220

220 +Singapore

35 - 70

70 - 100

100 - 120

120 - 150

150 +PROFESSIONAL SERVICES

Associate/
AssistantSenior Associate Manager

Manager

Director/
Senior Manager Partner

Mainland China

240 - 300

320 - 470

500 - 720

750 - 1,000

1,200 +

Hong Kong

240 - 300

320 - 470

500 - 720

750 - 1,100

1,200 +

Japan

5-7

8 - 10

9 - 1313 - 15

15 +Malaysia

36 - 60

66 - 84

84 - 120

120 - 180

240 +Singapore

35 - 65

65 - 75

75 - 100

100 - 180

180 +

NOTES
• Salaries are represented in local currencies• Salaries do not include bonuses

2019 Hays Salary Guide - Asia | 35

AUDIT, RISK & COMPLIANCERISK | BANKING
CREDIT RISK

AnalystAssociate

AssistantVice President

Vice President

Director

Mainland China

120 - 240

240 - 360

360 - 600

600 - 960

960 +Hong Kong

180 - 300

300 - 600

600 - 900

900 - 1,200

1,200 +

Japan

7-9

9 - 11

11 - 15

15 - 20

20 +Malaysia

48 - 60

72 - 90

96 - 120132 - 180

240 - 300

Singapore

60 - 90

90 - 100

100 - 135

135 - 220

220 +MARKET RISK

AnalystAssociate

AssistantVice President

Vice President

Director

Mainland China

120 - 240

240 - 360

360 - 600

600 - 960

960 +Hong Kong

180 - 360

360 - 480

480 - 660

660 - 960

1,080 +

Japan

7-9

9 - 1213 - 15

15 - 20

20 +Malaysia

48 - 72

72 - 116

120 - 156

180 - 240

300 - 360

Singapore

60 - 90

90 - 110

110 - 150

150 - 230

230 +OPERATIONAL RISK

AnalystAssociate

AssistantVice President

Vice President

Director

Mainland China

120 - 240

240 - 360

360 - 600

600 - 1,080

1,080 +

Hong Kong

260 - 480

480 - 660

660 - 1,000

1,000 - 1,400

1,400 - 2,000Japan

6.5 - 88 - 10

11 - 1415 - 20

20 +Malaysia

60 - 84

84 - 120

108 - 180

192 - 240

276 - 420

Singapore

60 - 90

90 - 100

100 - 135

135 - 220

220 +

NOTES
• Salaries are represented in local currencies• Salaries do not include bonuses

36 | 2019 Hays Salary Guide - Asia

AUDIT, RISK & COMPLIANCERISK | COMMERCE & INDUSTRY
Assistant
Executive/
Manager/
Senior Executive Manager

Senior Manager Director

Mainland China

120 - 250

250 - 400

300 - 600

600 - 1,000

Hong Kong

150 - 300

300 - 450

450 - 750

750 +

Japan

6 - 10

7 - 16

10 - 20

15 +Malaysia

36 - 78

78 - 168168 - 210240 +Singapore

35 - 70

70 - 130

130 - 180

180 +Executive/
AssistantSenior Executive Manager

Manager

Senior Manager Director

Mainland China

180 - 250

200 - 360

300 - 500

400 - 700

700 +Hong Kong

300 - 360

380 - 520

540 - 660

720 - 900

960 - 1,300

Japan

5-7

7-9

9 - 1212 - 17

18 +Malaysia

48 - 72

72 - 96

96 - 144

144 - 204216 +Singapore

35 - 60

60 - 80

80 - 120

120 - 200

200 +RISK | INSURANCERISK | PROFESSIONAL SERVICESENTERPRISE RISK

Associate/
AssistantSenior Associate Manager

Manager

Director/
Senior Manager Partner

Mainland China

120 - 250

400 - 700

700 - 900

Hong Kong

150 - 300

300 - 450

450 - 750

600 - 850

850 +

Japan

5-8

7 - 12

9 - 16

10 - 20

17 +Malaysia

48 - 72

72 - 96

96 - 144

144 - 204216 +Singapore

35 - 65

65 - 75

75 - 100

100 - 180

180 +

200 - 400

800

NOTES
• Salaries are represented in local currencies• Salaries do not include bonuses

2019 Hays Salary Guide - Asia | 37

AUDIT, RISK & COMPLIANCECOMPLIANCE | BANKING
AnalystAssociate

AssistantVice President

Vice President

Director

Mainland China

120 - 240

240 - 360

360 - 600

600 - 1,200

1,200 +

Hong Kong

216 - 360

336 - 540

544 - 840

840 - 1,500

1,500 +

Japan

7-9

9 - 1313 - 15

15 - 20

20 +Malaysia

60 - 78

78 - 132

132 - 216

216 - 264264 +Singapore

50 - 75

75 - 90

90 - 130

130 - 220

220 +COMPLIANCE | INSURANCE
Officer/
Senior Officer

AssistantManagerManager

Senior Manager Director

Hong Kong

300 - 360420 - 540

600 - 780

780 - 900

980 - 1,600

Japan

5-8

6 - 10

8 - 1213 - 18

15 - 18

Malaysia

51 - 72

72 - 108108 - 180

180 - 222

222 - 492

Singapore

35 - 65

65 - 90

90 - 150

150 - 200

200 - 350

COMPLIANCE | COMMERCE & INDUSTRY
Officer/
Senior Officer

AssistantManagerManager

Senior Manager Director

Mainland China

120 - 240

180 - 350

300 - 500

400 - 700

700 +Hong Kong

150 - 300

300 - 450

450 - 750

600 - 850

850 +

Japan

5-8

7 - 12

9 - 16

10 - 20

17 +Malaysia

60 - 72

72 - 102102 - 180

180 - 264264 +Singapore

35 - 60

60 - 80

80 - 120

120 - 180

180 +COMPLIANCE | PROFESSIONAL SERVICES
Associate/
AssistantSenior Associate Manager

Manager

Director/
Senior Manager Partner

Mainland China

120 - 250

300 - 700

600 - 900

Hong Kong

150 - 300

300 - 450

450 - 750

600 - 850

850 +

Japan

5-8

7 - 12

9 - 16

10 - 20

17 +Malaysia

60 - 72

72 - 96

96 - 168168 - 222

222 +Singapore

35 - 65

65 - 75

75 - 100

100 - 180

180 +

NOTES
• Salaries are represented in local currencies• Salaries do not include bonuses

38 | 2019 Hays Salary Guide - Asia

180 - 400

800 +

BANKING & FINANCIAL SERVICES

THE BELT AND ROAD PROJECTINCREASED REGULATION AND FINANCIAL
MARKET DELEVERAGING ARE COMBINING
TO INCREASE HIRING ACTIVITY
Owing to the government’s ‘Belt andRoad’ initiative, recruitment activity
remains positive for international
corporate and investment banks in
Mainland China. This has seen increased
hiring in trade finance, structured export
finance and project finance in particular,
and we predict that demand will remainstrong in 2019. Applicants with client
relationships in infrastructure, engineering
procurement and construction (EPC) andtransportation industries, or withexperience in offshore lending, syndication
loan, export trade finance and debt capital
markets are particularly in demand, andwe have observed solid salary increases inthese areas.
Increased regulation designed to limit
business scope, tighten payment quotas,
improve client identity certification as well as
regulating non-custodian business for theinternet finance P2P sector has slowed thegrowth of online banking business. However,foreign banks have built up their digitalbanking teams to provide solutions to midsize clients, especially in transaction banking
products. Relationship managers, productmanagers, credit risk specialists and productsales specialists remain in high demand,
particularly those with experience andnetworks in the telecommunications, media
and technology sectors.
CANDIDATES WITH EXPERIENCEOUTSIDE OF THE FINANCE SECTOR AT
AN ADVANTAGE
With financial market deleveraging astand-out concern we have seen new
trends on the rise in both primary andsecondary markets. One such example isin the raising of the IPO threshold, making
it increasingly important for companies toutilise their reserves. This is leading to thecreation of investment teams that canperform acquisitions that strengthensynergy and enhance efficiency. In hiring
for these roles, professionals with a rangeof experience beyond finance and strong
business sector knowledge — particularly
in technology, healthcare and pharma —have a competitive advantage.

SOUGHT-AFTER TALENT IS
INCREASINGLY ENTICED BY CAREERDEVELOPMENT OPPORTUNITIES

remain in high demand in the form of both
permanent and temporary hires, and as aresult salary augmentation is commonplace.

Recent China Securities Regulatory
Commission policy changes allowing
foreign-controlled joint-venture securities
businesses will lead to continued demandfor experienced securities professionals
over the next year, meaning positive salary
growth in the sector. Overall, we predictthat recruitment levels will remain positive
for the banking and securities sector, andwe will see fierce competition to attract
the most sought-after skillsets throughout
2019. At the same time, we expect
employers to continue employing talentretention tactics beyond comprehensive
remuneration packages, with clear careerdevelopment planning proving attractive
to candidates.

Fintech is another area which has seen
significant growth, with cash management
and solutions professionals key. As
evidenced by HKMA licence applications,many financial institutions are developing
their virtual banking departments, and we
predict that this will become an important
hiring space going forward.

HONG KONG
HONG KONG IS SEEING INCREASEDHIRING IN A NUMBER OF AREAS, FROMFINTECH TO EUROPEAN BANKINGWEALTH MANAGEMENTThe Greater Bay Area (GBA) initiative has
ignited hiring momentum in commercial
and corporate banking. In particular, Asiaheadquartered banks are leading the way
by expanding their GBA teams andcapturing the business potential. The
increase in headcount is spread throughmiddle and team-management hiring, whilebanks in Hong Kong are keen on acquiring
talent from other GBA locations in order toutilise their network advantage. This
recruitment impetus is expected tocontinue as the GBA initiative develops andmatures, with the inevitable result of
increasingly competitive salary offers.
RISK PROFESSIONALS CAN EXPECTSALARY CLIMBS DUE TO INDUSTRYREGULATORY ATTENTION
The private banking and wealthmanagement specialisms remain in
strategic focus for European banks, thusincreasing hiring in these areas.
Relationship managers at director level orabove with solid private banking
connections are highly sought after.
Meanwhile, as the industry continues toreceive considerable regulatory attention,compliance, risk and control professionals

CANDIDATE ENTICEMENTS, THOUGH
COMPETITIVE, REMAIN CONSIDERED
Being a sophisticated market, Hong Kong
companies are increasingly selective in
identifying talent, while coming up withreasonable yet competitive packages to
get the right people on board. We advise
candidates to manage their salary
expectations accordingly and understandtheir true push/pull factors when
considering a job switch in 2019.

JAPANAS NEWER SECTORS BECOME MORE
PROMINENT, HIRING DEMANDCONTINUES TO GROW
Recruitment in Japan’s banking & financial
services industry remained stable through2018, with most firms maintaining theirhiring levels of previous years, a situation
unlikely to change in 2019 in the securities,banking and asset management sectors.
However, there has been a notable
increase in headcounts in newer sectors,
particularly for cryptocurrency firms
entering what is a rapidly growing market.

“Foreign banks in
Mainland China willcontinue to increaseheadcount in theirdigital banking teams.”

2019 Hays Salary Guide - Asia | 39

SALARY INFORMATION: BANKING & FINANCIAL SERVICES

MAINLAND CHINABANKING & FINANCIAL SERVICES
Compliance and risk continue to be areasof high demand throughout the industry,whilst KYC, AML and experienced
operations professionals are particularly
sought after, with competitive salary
increases seen in both the temporary andpermanent recruitment sectors.
EXPERIENCE AT A PREMIUM LEADINGSALARIES TO RISE
Overall, hiring demand in the financesector remains solid across most functions,and although companies are hiring in lessvolume than they were prior to the global
financial crisis, skilled professionals are
more in demand than they have been inrecent years. In many areas hiring
individuals with extensive experience has
become a particular challenge as a large
proportion have left the industry, and amore competitive hiring market at juniorlevel has created a talent pool with fewer
experienced candidates. As a result, strong
performers in most functions are able tocommand good salaries.
ORGANISATIONS MORE LIKELY TO
CONSIDER OVERSEAS TALENTWith demographics being what they are inthis candidate-short market, companies
are increasingly open to accessing a wider
talent pool by considering candidates
based overseas.

MALAYSIASALARY INFORMATION: BANKING & FINANCIAL SERVICESDECLINING REVENUES SEES
INSTITUTIONS TURN TO SME CUSTOMERSAcross most areas salaries have increasedin the Malaysian banking and financial
services industry as hiring demandremains strong, particularly in thecorporate and commercial banking sector.
In order to curb the rising default rate, theCentral Bank has encouraged lenders to be
more conservative when offering loans tothe consumer market. At the same time,the industry has observed a loan growth ofaround 5.4 per cent year-on-year, with a
total banking system loan status ofapproximately RM1.6 trillion. With declining
revenue from corporate and commercial
and retail outlets, the banks are turning
their focus to the small and medium
enterprise (SME) banking sector and havebeen aggressively hiring sales managers in

40 | 2019 Hays Salary Guide - Asia

this space as well as launching new
products to entice SME customers.
DEMAND FOR ISLAMIC BANKING ANDCOMPLIANCE PROFESSIONALSINCREASES
Hiring demand in Islamic banking andasset management also remains strong,and candidates with relevant skills andexperience are in high demand, leading tocompetitive salary offers.
At the same time, financial institutions arecontinuing to place higher emphasis on
audit, risk and compliance recruitment.
This is particularly evident in the sustainedcompetition amongst banks in hiringexperienced talent throughout the financial
year, a situation we expect to continue in2019 leading to increasing salaries.

SINGAPORE
A RECALIBRATION FOR SINGAPORE’S
FINANCIAL SERVICES INDUSTRY IS
DRIVING HIRING
2018 represented a period of change
within Singapore’s financial services
industry, particularly in banking, as
financial institutions looked to refocus theirbusinesses. Throughout the year we saw
renewed emphasis from banks and otherfinancial institutions on growing their front
office and revenue generating teams.
Back and middle office hiring remained
relatively flat as automation and offshoring
continue to be prevalent. Consequently,
salaries have remained relatively flat yearon-year and we predict little change in
2019. That said, there were a number ofareas of improvement, with experienced
front office corporate and investmentbanking and retail and private banking
professionals moving with significant
salary increments.
SOUTHEAST ASIA INVESTMENT CREATESDEMAND FOR RELATIONSHIP MANAGERS
In 2019 we foresee strong demand in themarket for experienced corporate banking
relationship managers and productspecialists as banks look to capitalise on
investment across Southeast
Asia. Additionally, with investmentbanking slowing, we are seeing a rise in
the more traditional sectors of businessbanking and enterprise banking, withsignificant hiring activity to follow. We also
anticipate significant growth across retailbanking and private banking, particularlyin the front office.
As is now customary in the banking sector,
regulatory-focused positions will continue
to be in demand in 2019. AML and KYC
candidates are particularly sought after,and salaries are likely to grow as aresult. Internal audit, operational risk andcompliance are other areas that should
see salary increases due to the relatively
small talent pool that exists in Singapore.
CANDIDATES ARE MORE OPEN TO
CONTRACTING
As in 2018, we anticipate an increase in thereliance on contractors within financial
services, particularly in the back and middle
office. With contracting becoming moreestablished in the market we are seeing
candidates being more receptive to theseopportunities, and employers are looking to
make salary packages more attractive.

Best locations in Asia
for ﬁnance sector occupiers:
1. Hong Kong
2. Tokyo
3. Singapore
4. Shanghai
5. Seoul
Source: Colliers International, 2018 Top Locationsin Asia: FinanceBANKING & FINANCIAL SERVICESFRONT OFFICECORPORATE FINANCE, M&A, ECM/DCM

AnalystAssociate

Vice
President

Director

Managing
Director

Mainland China

300 - 500

500 - 750

600 - 1,200

1,200 - 2,000 1,800 +Hong Kong

480 - 720

600 - 1,000

1,000 - 1,600 1,600 - 2,000 2,000 +Japan

7.5 - 8.5

8.5 - 13

14 - 20

20 - 35

35 +Malaysia

42 - 64

64 - 96

96 - 192

192 - 360

360 +Singapore70 - 90

90 - 130

130 - 220

220 - 350

350 +ASSET MANAGEMENT

Sales

Senior Sales

Head of Sales Junior Trader Trader

Mainland China

240 - 360

360 - 700

700 - 1,000

400 - 600

600 - 800

Hong Kong

600 - 900

900 - 1,500

1,500 +

360 - 600

600 +

Japan

6 - 10

10 - 15

15 - 20

7.5 - 1111.5 - 16

Malaysia

48 - 84

96 - 180

144 - 276

48 - 84

84 +Singapore

40 - 60

60 - 100

100 - 130

60 - 8080 +Research
Analyst

Snr Research Head of
AnalystResearch

Assistant
Fund
Fund Manager Manager

Chief FundManager

Mainland China

240 - 360

360 - 800

800 +

400 - 700

600 - 1,000

1,000 +

Hong Kong

300 - 600

600 - 1,400

1,400 +

660 - 1,000

1,000 - 1,400 1,400 +Japan

7 - 1110 - 16

15 - 25

8 - 1210 - 18

18 - 25

Malaysia

60 - 84

77 - 144

144 - 504

100 - 180

120 - 252

300 - 540

Singapore

60 - 80

80 - 130130

130 - 150

150 - 175

175 - 250

PRIVATE EQUITY

AnalystAssociate

Vice
President

Director

Managing
Director

Mainland China

250 - 360

360 - 800

650 - 1,500

1,500 - 2,000 1,800 +Hong Kong

420 - 600

600 - 1,000

1,000 - 1,400 1,400 - 1,800

1,800 +

Japan

8 - 1310 - 15

15 - 25

20 - 3030 +Malaysia

42 - 64

64 - 96

96 - 192

192 - 360

360 +Singapore70 - 100

100 - 150

150 - 180

180 - 250

250 +HEDGE FUND - INVESTMENT

AnalystAssociate

VP

Assistant
Fund
Fund Manager Manager

Mainland China

250 - 360

360 - 650

600 - 900

650 - 900

1,000 +

Hong Kong

500 - 700

700 - 1,000

1,000 - 1,350

1,200 - 1,500

1,500 - 3,000Japan

8 - 1313 - 16

16 - 26

10 - 15

20 +Malaysia

40 - 54

54 - 108108 - 156

156 - 228

228 - 264

Singapore

80 - 110

110 - 140

140 - 180

180 - 250

250 +

NOTES
• Salaries are annual and represented in local currencies• Salaries do not include bonuses• Typical beneﬁts on top of salaries stated include
performance based bonuses

2019 Hays Salary Guide - Asia | 41

BANKING & FINANCIAL SERVICESFRONT OFFICEHEDGE FUND - EXECUTION

Risk Analyst

Quantitative
Risk Manager Analyst

Snr Quantitative
AnalystTraderSeniorTraderMainland China

500 - 800

800 - 1,200

1,000 +

500 - 1,000

500 - 800

600 - 1,200

Hong Kong

400 - 700

720 +

1,000 +

1,500 +

400 - 800

800 +

Japan

10 - 1212 - 15

12 - 15

15 - 25

15 - 25

20 - 30

Malaysia

40 - 72

72 - 114

114 - 168168 - 216

216 - 288

288 +Singapore

80 - 100

100 - 150

150 - 200

130 - 150

150 - 220

220 +GLOBAL MARKETS

Junior Trader Trader

Senior Trader Desk Head

Quantitative
AnalystQuantitative
VP

Mainland China

250 - 400

800 - 1,500

300 - 500

500 - 800

400 - 800

1,500 +

Hong Kong

300 - 540

600 - 1,200

1,200 - 2,500 2,500 +

600 +

850 +

Japan

8 - 11.5

12 - 20

20 - 30

30 - 40

8 - 1212 - 20

Malaysia

60 - 90

90 - 150

150 - 276

276 +

60 - 90

90 - 190

Singapore

55 - 70

80 - 180

175 - 250

250 +

130 - 150

150 - 220

Quantitative
Director

Quantitative
MD

Associate
Structuring

VP
Structuring

Director
Structuring

MD
Structuring

Mainland China

800 - 1500

1,500 +

300 - 600

600 - 900

800 - 1500

1,500 +

Hong Kong

1,200 +

N/A

500 - 800

850 - 1000

1,400 - 1,600 1,800 +Japan

20 - 3030 +

10 - 14.5

15 - 22

22 - 30

Malaysia

190 - 350

350 +

60 - 90

90 - 190

190 - 350

350 +Singapore

220 - 300

300 +90 - 130

130 - 220

220 - 350

350 +FINANCIAL MARKETS SALES,INSTITUTIONAL, CORPORATE,RESEARCH, HEDGE FUNDS

Associate

Vice
President

Director

Managing
Director

Mainland China

300 - 500

500 - 1,200

1,200 - 2,000 2,000 +Hong Kong

500 - 800

800 - 1,200

1,200 - 2,000 2,000 +Japan

10 - 1415 - 22

22 - 3030 +Malaysia

60 - 90

90 - 190

190 - 350

350 +Singapore90 - 130

140 - 220

220 - 300

300 +RESEARCH/STRATEGY(FICC & EQUITY)

AnalystAssociate

Vice
President

Director

Managing
Director

Mainland China

250 - 360

360 - 600

600 - 1,000

900 - 1,500

1,200 +

Hong Kong

360 - 600

600 - 840

840 - 1,500

1,500 - 2,100

2,100 +

Japan

8 - 10

10 - 15

15 - 22

22 - 35

35 +Malaysia

48 - 72

72 - 144

144 - 204

180 - 300

300 +Singapore70 - 90

100 - 150

150 - 200

200 - 300

300 +

NOTES
• Salaries are annual and represented in local currencies• Salaries do not include bonuses• Typical beneﬁts on top of salaries stated include
performance based bonuses

42 | 2019 Hays Salary Guide - Asia

30 +

BANKING & FINANCIAL SERVICESFRONT OFFICECORPORATE BANKING

Assistant
RelationshipManager

RelationshipManager

SeniorRelationshipManager

Team Head

Department
Head

Mainland China

180 - 240

240 - 500

480 - 1,000

780 - 1,320

1,320 +

Hong Kong

230 - 450

310 - 780

700 - 950

950 - 1,350

1,350 +

Japan

6-9

10 - 1415 - 18

18 - 22

22 +Malaysia

60 - 84

84 - 168168 - 240

144 - 336

336 +Singapore

60 - 80

80 - 130

130 - 220

220 - 250

250 +COMMERCIAL BANKING

Assistant
RelationshipManager

RelationshipManager

SeniorRelationshipManager

Team Head

Department
Head

Mainland China

120 - 210

210 - 420

420 - 720

600 - 850

850 +Hong Kong

220 - 400

300 - 600

600 - 800

720 - 950

1,000 +

Japan

5-7

8 - 1213 - 15

15 - 20

20 +Malaysia

48 - 72

72 - 156

156 - 216

216 - 300

300 +Singapore

50 - 70

70 - 120

120 - 150

150 - 200

200 +SME BANKING

Assistant
RelationshipManager

RelationshipManager

SeniorRelationshipManager

Team Head

Department
Head

Mainland China

80 - 180

150 - 300

300 - 480

420 - 600

600 +Hong Kong

200 - 300

300 - 540

540 - 700

650 - 850

900 +

Japan

5-7

8 - 1112 - 15

14 - 18

19 +Malaysia

39 - 60

60 - 90

90 - 108108 - 180

180 +Singapore

50 - 70

70 - 120

120 - 150

150 - 200

200 +FINANCIAL INSTITUTIONS BANKING

Assistant
RelationshipManager

RelationshipManager

SeniorRelationshipManager

Team Head

Department
Head

Mainland China

180 - 240

240 - 500

480 - 1,000

900 - 1,320

1,320 +

Hong Kong

250 - 400

400 - 600

600 - 960

960 - 1,350

1,350 +

Japan

6-9

10 - 1415 - 18

18 - 22

22 +Malaysia

56 - 72

72 - 156

156 - 220

220 - 280

280 +Singapore

60 - 80

80 - 130

130 - 200

200 - 250

250 +TRANSACTION BANKING(CASH MANAGEMENT, TRADE FINANCE,PROJECT & EXPORT FINANCE)

Assistant
RelationshipManager

RelationshipManager

SeniorRelationshipManager

Team Head

Department
Head

Mainland China

150 - 240

240 - 420

420 - 800

720 - 1,200

1,200 +

Hong Kong

300 - 480

480 - 720

720 - 1,200

1,200 - 1,600

1,600 +

Japan

6-9

10 - 1415 - 18

18 - 22

22 +Malaysia

38 - 60

60 - 108108 - 180

180 - 252

252 +Singapore

60 - 80

80 - 130

130 - 200

200 - 250

250 +

NOTES
• Salaries are annual and represented in local currencies• Salaries do not include bonuses• Typical beneﬁts on top of salaries stated include
performance based bonuses

2019 Hays Salary Guide - Asia | 43

BANKING & FINANCIAL SERVICESFRONT OFFICE
Premier Banking
RelationshipManagerPrivate Banking
Client Services
Officer

FINANCIAL PLANNING &WEALTH MANAGEMENT

Wealth Manager

Senior WealthManager

Mainland China

200 - 360

390 - 650

200 - 350

260 - 360

Hong Kong

300 - 480

480 - 720

360 - 600

400 - 700

Japan

7 - 1110 - 128 - 12

7-9

Malaysia

36 - 60

60 - 144

54 - 150

70 - 90

Singapore

34 - 4242 - 58

80 - 85

42 - 58

Private Banking
RelationshipManager

Senior Private Banking
RelationshipManager
Sales Manager

Sales Director

Mainland China

420 - 600

600 - 1,200

500 - 800

800 +Hong Kong

500 - 1,000

1,200 - 3,000

600 - 1,200

1,200 +

Japan

8 - 1212 - 15

15 - 18

18 +Malaysia

84 - 144

144 - 192

186 - 236

236 - 352

Singapore

60 - 150

150 - 250

70 - 100

120 - 180

NOTES
• Salaries are annual and represented in local currencies• Salaries do not include bonuses• Typical beneﬁts on top of salaries stated include
performance based bonuses

44 | 2019 Hays Salary Guide - AsiaBANKING & FINANCIAL SERVICES
MIDDLE OFFICETRADE SUPPORT

AnalystAssociate

AVP

Vice President

Director

Mainland China

120 - 210

180 - 320360 - 600

600 - 840

840 +Hong Kong

300 - 400

400 - 600

600 - 800

800 - 1,000

1,000 +

Japan

6-8

8 - 10

10 - 1415 - 20

20 +Malaysia

54 - 60

60 - 108108 - 144

144 - 216

216 +Singapore

50 - 70

70 - 90

90 - 130

130 - 200

200 +COLLATERAL MANAGEMENT/CLIENT VALUATIONS

AnalystAssociate

AVP

Vice President

Director

Mainland China

120 - 210

180 - 320360 - 600

600 - 840

840 +Hong Kong

150 - 300

300 - 500

500 - 700

700 - 900

900 +

Japan

6-8

8 - 10

10 - 1415 - 20

20 +Malaysia

60 - 72

72 - 120

120 - 156

156 - 216

216 +Singapore

50 - 70

70 - 90

90 - 130

130 - 200

200 +CHANGE MANAGEMENT/PROJECT MANAGEMENTHead of Project
Business Analyst Project Manager Management

Mainland China

120 - 240

240 - 480

600 +Hong Kong

350 - 500

500 - 1,000

1,000 +

Japan

8 - 1213 - 18

20 +Malaysia

96 - 168120 - 288

288 +Singapore

60 - 130

130 - 220

220 +ASSET MANAGEMENT

Product
Manager

Senior ProductManager

Client Service/
ReportingSpecialist

Client Service/
ReportingManager

Head of Client
Service/
ReportingMainland China

N/A

N/A

N/A

480 - 840

840 +Hong Kong

600 - 780

780 - 960

480 - 720

720 - 960

960 +

Japan

7 - 1110 - 18

8 - 10

10 - 1212 - 15

Malaysia

78 - 138

138 - 240

108 - 156

156 - 216

216 +Singapore

80 - 130

130 - 200

80 - 130

130 - 180

180 - 220

NOTES
• Salaries are annual and represented in local currencies• Salaries do not include bonuses• Typical beneﬁts on top of salaries stated include
performance based bonuses

2019 Hays Salary Guide - Asia | 45

BANKING & FINANCIAL SERVICES
MIDDLE OFFICEPERFORMANCE MEASUREMENT/INVESTMENT RISK

Associate/AVP

Vice President

Head

Mainland China

240 - 600

600 - 960

960 +

Japan

8 - 1210 - 16

15 - 22

Malaysia

120 - 180

180 - 300

300 +Singapore

100 - 150

150 - 200

200 - 250

TRANSACTION BANKING CLIENT SERVICE

Officer

Associate

AVP

Vice President

Director

Mainland China

120 - 240

240 - 360

360 - 600

600 - 800

660 +Hong Kong

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

Mainland China

120 - 240

240 - 360

360 - 600

600 - 800

800 +Hong Kong

240 - 300

300 - 420

420 - 600

600 - 800

800 - 1050

Japan

6 - 7.5

8 - 10

11 - 13

14 - 18

18 +Malaysia

48 - 60

60 - 108108 - 180

180 - 240240 +Singapore

50 - 70

80 - 130

130 - 150

150 - 200

200 - 300

INVESTMENT CONSULTANT

AnalystAssociate

Manager

Mainland China

240 - 380

360 - 500

500 +Hong Kong

240 - 360

360 - 480

500 - 1,200

Malaysia

54 - 72

72 - 162

162 +Singapore

60 - 100

100 - 150

150 +PRODUCT MANAGEMENT

AnalystAssociate

Senior Associate/
Manager

Mainland China

220 - 320

300 - 360

360 - 480

Hong Kong

260 - 360

360 - 840

840 +

Japan

6-7

8 - 10

10 - 11

Malaysia

60 - 84

84 - 156

144 - 204

Singapore

50 - 70

70 - 100

100 - 180

NOTES
• Salaries are annual and represented in local currencies• Salaries do not include bonuses• Typical beneﬁts on top of salaries stated include
performance based bonuses

46 | 2019 Hays Salary Guide - AsiaBANKING & FINANCIAL SERVICESBACK OFFICECORPORATE ACTIONS/SETTLEMENTS

AnalystAssociate

AVP

VP

Director

Mainland China

120 - 180

180 - 300

300 - 480

480 - 700

700 +Hong Kong

160 - 250

250 - 400

400 - 550

550 - 700

700 +

Japan

6-8

8 - 10

10 - 13

13 - 1715 - 18

Malaysia

42 - 72

72 - 108108 - 150

150 - 200

200 +Singapore

40 - 60

60 - 80

80 - 110

110 - 180

180 +DOCUMENTATION/KNOW YOUR CLIENT/CLIENT ONBOARDING

AnalystAssociate

AVP

VP

Director

Mainland China

120 - 180

180 - 300

300 - 480

480 - 700

700 +Hong Kong

240 - 400

380 - 660

640 - 900

900 - 1,200

1,200 +

Japan

6 - 7.5

8 - 10

10 - 13

13 - 18

18 +Malaysia

54 - 78

78 - 102102 - 150

150 - 180

180 - 264

Singapore

50 - 70

70 - 90

90 - 120

120 - 220

220 +BANKING OPERATIONS(TREASURY OPS, MM, FX)

Officer

Associate

AVP

VP

Director

Mainland China

120 - 180

180 - 300

300 - 480

480 - 700

700 +Hong Kong

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 - 240240 +Singapore

40 - 60

60 - 80

80 - 120

120 - 200

200 +TRANSACTION BANKING OPERATIONS

Officer

Associate

AVP

VP

Director

Mainland China

120 - 180

180 - 300

300 - 480

480 - 700

700 +Hong Kong

180 - 300

300 - 420

420 - 540

540 - 660

660 +

Japan

6 - 7.5

8 - 10

10 - 13

13 - 17

18 +Malaysia

48 - 60

60 - 96

96 - 150

150 - 225

225 +Singapore

50 - 70

70 - 90

90 - 120

120 - 200

200 +LOAN ADMINISTRATION/CREDIT OPERATION

Officer

Associate

AVP

VP

Director

Mainland China

120 - 180

180 - 300

300 - 480

480 - 700

700 +Hong Kong

180 - 300

300 - 400

400 - 600

600 - 800

N/A

Japan

6 - 7.5

8 - 10

10 - 13

13 - 17

18 +Malaysia

48 - 60

60 - 84

84 - 144

144 - 200

200 +Singapore

40 - 60

60 - 90

90 - 130

130 - 200

200 +FUND OPERATIONS

Administrator

SeniorAdministrator

Manager

VP

Director

Mainland China

120 - 180

180 - 300

300 - 480

480 - 700

700 +Hong Kong

250 - 350

380 - 480

480 - 840

800 - 1,100

1,000 - 1,400

Japan

6-8

8 - 10

10 - 128 - 12

15 +Malaysia

54 - 72

54 - 60

60 - 96

96 - 180

300 +Singapore

40 - 55

55 - 80

80 - 120

120 - 200

200 +

NOTES
• Salaries are annual and represented in local currencies• Salaries do not include bonuses• Typical beneﬁts on top of salaries stated include
performance based bonuses

2019 Hays Salary Guide - Asia | 47

BANKING & FINANCIAL SERVICESRETAIL
BRANCH MANAGEMENT

BranchSub Branch Manager Manager

Regional/
District Manager

Mainland China

360 - 480

960 - 1,500

480 - 960

Hong Kong

520 - 720

620 - 800

900 +

Japan

N/A

10 - 12

13 +Malaysia

84 - 108120 - 180

180 - 264

Singapore

N/A

50 - 75

80 - 110

OPERATIONAL BRANCH STAFF

TellerSupervisor

Operations Manager

Mainland China

60 - 120

120 - 240

240 - 360

Hong Kong

100 - 150

200 - 300

300 +

Japan

3-4

5-8

8 - 10Singapore

20 - 30

42 - 47

60 - 100

RELATIONSHIP MANAGEMENT

Assistant
Relationship
Relationship Manager Manager

Senior RelationshipManager

Sales Manager

Mainland China

120 - 180

180 - 300

240 - 390360 - 600

Hong Kong

300 - 350

420 - 540

576 - 720

780 - 950

Japan

5-7

8 - 11

11 - 14

14 - 18

Malaysia

48 - 72

66 - 96

96 - 120

120 +Singapore

60 - 100

100 - 150

150 - 200

180 +MORTGAGE

Specialist

Senior Specialist

Team HeadRegion Head

Mainland China

120 - 240

180 - 300

300 - 600

600 +Hong Kong

180 - 240

240 - 360

360 - 600

800 +

Japan

4-6

6-8

9 - 11

12 +Malaysia

48 - 72

72 - 96

96 - 120

120 - 180

Singapore

60 - 80

80 - 100

120 - 150

180 +INSURANCE AND INVESTMENT

Specialist

Senior Specialist

Team HeadRegion Head

Mainland China

120 - 240

180 - 300

300 - 600

600 +Hong Kong

180 - 280360 - 500

700 - 850

1,000 +

Japan

4-6

6-9

9 - 12

13 +Malaysia

54 - 66

66 - 96

96 - 144

144 - 243

Singapore

60 - 80

80 - 100

120 - 150

180 +

NOTES
• Salaries are annual and represented in local currencies• Salaries do not include bonuses• Typical beneﬁts on top of salaries stated include
performance based bonuses

48 | 2019 Hays Salary Guide - Asia

CONSTRUCTION & ENGINEERING

HONG KONG

DEVELOPMENTS SURROUNDING THE
ONE BELT, ONE ROAD INITIATIVE MEAN
THAT CANDIDATES IN A NUMBER OF
AREAS WITH LOCAL AND
INTERNATIONAL EXPERIENCE WILL
BE REQUIREDA NUMBER OF IMMENSE CONSTRUCTION
INITIATIVES COUPLED WITH VAST
SPENDING IS ENCOURAGING GROWTHIN HONG KONG’S CONSTRUCTION AND
ENGINEERING INDUSTRY

Mainland China’s US$1 trillion venture todevelop infrastructure across Asia in theambitious ‘One Belt, One Road’ project
has grown to encompass 65 countries andregions. The initiative will eventuallyconnect Mainland China’s southern
provinces to Southeast Asia and Africa’s
east coast via a network of roads, railways,
ports and maritime infrastructure. As aresult, Chinese construction andengineering companies are expected tobranch out into these areas, meaning thatcandidates with local and international
project experience continue to be high indemand in 2019.
EXCHANGE RATE FLUCTUATIONS SLOWPROJECT EXPANSION
In spite of these developments,
engineering, procurement andconstruction (EPC) and engineering,procurement and construction
management (EPCM) companies haveseen lower margins than previous years.
Locally, EPCM companies have been
seeking out opportunities to cooperatewith landlords and the Chinese
government in order to encourage higher,
long-term revenue. On the overseas
expansion front, most companies havebeen pulling away from projects due tofluctuations in foreign exchange rates.
Both local and foreign developers are
putting an increased emphasis on asset
management. Interior designers, fitting out
project managers and those withexperience in Mainland China’s Ministry of
Ecology and Environment projects will
therefore be highly desirable candidates.
On the commercial front there has been
an increase in pharmaceutical and life
sciences, data centre and semi-conductor
projects, thereby creating abundant job
opportunities for talent in the constructionand engineering sector.

Hong Kong’s construction and engineering
market will remain equally stable acrossboth the public and private sectors,
according to the Construction Industry
Council (CIC), with a projected spending of
HK$290 billion in Hong Kong’s construction& engineering industry. The market
therefore tilts in favour of candidates withexperience in either sector in 2019.
THIRD RUNWAY TO LAND CANDIDATESGREATER OPPORTUNITIES

growth in the past year following to thelifting of cooling measures towards theend of 2017, resulting in a promisingnumber of successful enblocs. This istranslating into an increasing number of
construction projects in the pipeline. The
rest of the construction sector is also
flourishing with the various ongoing
infrastructure and rail projects, as well as amultitude of upcoming public ventures.
However, across the industry, the consensus isthat these new developments can only
sustain the construction sector for the next
two years, which is a cause for concern forsmaller companies at present. With freshmarket-cooling measures being put into placein July 2018, there has been less optimism
about the development of new properties.

In the public sector, Hong Kong
International Airport’s third runway projectcontinues to have a major impact on theindustry. The land-reclamation stage ofthis endeavour — a mammoth undertaking
in itself — is expected to be complete in2020, stimulating a great demand forgeotechnical and civil engineers andplanners. We are also seeing an increased
demand for engineers with experience inthe design and development of baggage
handling systems as airport control
systems enter the design andimplementation phase. This project willcontinue to present candidates with amultitude of opportunities over the
coming years.

Furthermore, the postponement of work on
the Kuala Lumpur-Singapore High Speed
Rail (HSR) line has led to a great deal of
uncertainty amongst engineers who were
specifically recruited for this project.

The major ongoing construction of the
Sha Tin to Central line is in the final
planning stages of construction as
development accelerates in 2019. This
enterprise has filled the void left following
the completion of the XRL line in 2018,
and candidates with experience in thelatter project will be at an advantage.

In 2019, due to the limited opportunities
available in the coming year, candidates
operating in the private sector may haveto be more willing to accept roles that areof a lower position and salary than that of
their previous employment.

A LIMITED CANDIDATE POOL MAY
RESTRICT BIM GROWTH, AND
CANDIDATES MAY HAVE TO ACCEPTREDUCED SALARIESOn the upside, there has been seen a generaltrend towards BIM becoming a staple formany projects in Singapore, with BIM
submissions becoming an industry norm.
However, the local candidate pool for BIM is
still growing due to its relative newness andretraining candidates may pose a challenge.

SINGAPORE
FOLLOWING THE LIFTING OF MEASURESINTENDED TO COOL DEVELOPMENT, 2018
WITNESSED MODEST GROWTH. WHILE
THIS IS EXPECTED TO BE SUSTAINED FOR
THE NEXT TWO YEARS THERE IS AN
UPWARD TREND IN BUILDINGINFORMATION MODELING (BIM)
In Singapore’s mixed and commercial
development arenas, there has been

2019 Hays Salary Guide - Asia | 49

SALARY INFORMATION: CONSTRUCTION & ENGINEERING

MAINLAND CHINACONSTRUCTION & ENGINEERINGCONSTRUCTIONCONSTRUCTION CIVIL

Foreperson

Site Engineer

Project Engineer Design Manager Project Manager

Mainland China

N/A

100 - 180

150 - 300

325 - 550

350 - 700

Hong Kong

N/A

360 - 540

360 - 540

420 - 600

540 - 960

Singapore

50 - 80

60 - 75

65 - 90

100 - 140

105 - 150

Senior ProjectManager

Construction
Manager

Resident
Technical Officer Planner

Estimator

Mainland China

400 - 800

240 - 550

N/A

150 - 350

150 - 450

Hong Kong

720 - 1,200

800 +

N/A

480 - 840

600 - 960

Singapore

125 - 200

90 - 120

55 - 90

60 - 120

120 - 240

Mainland China

Contracts Administrator/
Quantity Surveyor - Entry-level

Contracts Administrator/
Quantity Surveyor - Senior

96 - 180

180 - 360

Hong Kong

240 - 360

360 - 600

Singapore

45 - 85

70 - 125

CONSTRUCTION BUILDING

Foreperson

Site Engineer

Project
Engineer

DesignManager

Mainland China

N/A

100 - 180

150 - 300

350 - 600

Hong Kong

N/A

350 - 500

500 - 600

650 - 950

Singapore

55 - 75

60 - 75

70 - 90

100 - 125

Senior Project
Project Manager Manager

Construction
Manager

Planner

Estimator

Mainland China

500 - 800

500 - 1,000

400 - 600

400 - 550

350 - 600

Hong Kong

600 - 840

720 - 1,000

720 - 1,200

480 - 830

390 - 840

Singapore

102 - 140108 +

100 - 120

85 - 100

150 +Contracts Administrator/
Quantity Surveyor - Entry-level

Contracts Administrator/
Quantity Surveyor - Senior

Mainland China

150 - 250

300 - 550

Hong Kong

240 - 360420 - 840

Singapore

55 - 70

70 - 95

HVAC Engineer

MEP Engineer

Healthcare Planner

Mainland China

120 - 300

150 - 350

N/A

Hong Kong

300 - 540

300 - 540

N/A

Singapore

50 - 85

65 - 90

N/A

CONSTRUCTION DEVELOPMENT

Development
Manager

Project
ManagerBusiness
Development
ManagerBusiness
Development
Director

Mainland China

400 - 800

400 - 800

300 - 800

800 - 1,200

Hong Kong

640 - 1,200

600 - 1080

540 - 830

1,100 +

Singapore

N/A

115 - 170

120 - 180

N/A

NOTES
• Salaries are represented in local currencies

50 | 2019 Hays Salary Guide - Asia

CONSTRUCTION & ENGINEERINGENGINEERINGDESIGN CONSULTANCY- BUILDING SERVICES

CAD Design
Drafter

CAD Manager

Graduate
DesignDesign Engineer Engineer

SeniorDesign Engineer

Mainland China

N/A

220 - 450

70 - 130

200 - 350

300 - 500

Hong Kong

216 - 240

350 - 530

192 - 270

288 - 420

420 - 660

Singapore

35 - 50

55 - 100

36 - 4255 - 78

72 - 96

Principal
Project
Design Engineer Manager

Associate/Principal/
Senior Associate Director

Resident
Engineer

Mainland China

370 - 550

300 - 600

550 - 900

900 - 1,200

300 - 550

Hong Kong

600 - 700

540 - 960

660 - 960

1,000 +

480 - 780

Singapore100 +75 - 108120 - 180

180 +

84 - 120

DESIGN CONSULTANCY- CIVIL & STRUCTURALCAD Design
Drafter

CAD Manager

Graduate
DesignDesign Engineer Engineer

SeniorDesign Engineer

Mainland China

N/A

250 - 350

130 - 200

150 - 300

240 - 400

Hong Kong

216 - 240

350 - 550

192 - 270

288 - 450

450 - 700

Singapore

35 - 50

55 - 100

36 - 4255 - 78

72 - 96

Principal
Project
Design Engineer Manager

Associate/Principal/
Senior Associate Director

Resident
Engineer

Mainland China

300 - 450

350 - 600

350 - 500

700 - 900

250 - 400

Hong Kong

600 - 800

540 - 960

660 - 960

1,000 +

480 - 780

Singapore100 +90 - 108120 - 180

180 +

84 - 120

NOTES• Salaries are represented in local currencies

The scale of Asia’s construction
output is outpacing the entire
construction output of the
US and Europe.

Europe/US

Asia

Source: South China Morning Post, October 20182019 Hays Salary Guide - Asia | 51

DIGITAL TECHNOLOGYMAINLAND CHINA
DEMAND FOR TALENT TO RISE EVENFURTHER IN 2019
After a year of great positivity, the outlook
for Mainland China’s digital technology
recruitment market is strong as we lookahead to 2019.
2018 was a good year for software
engineering candidates, with demand for
IT talent from all industries outstripping
the supply by some distance. Predictionsfor 2019 is more of the same, plus
competition expected for talent within AI,
IoT and cybersecurity.

SALARY INFORMATION: DIGITAL TECHNOLOGYTRADITIONAL INDUSTRIES CATCH UP,
AND CODING BECOMES KEY
Investment in technology in Mainland
China is set to increase, whereas we
previously saw substantial augmentation in
spending across the internet industry weare now beginning to see more traditional
industries catch up and invest impressively
in AI, IoT, blockchain and big data.
One of the biggest trends of 2018 was therise of the full stack engineer, demand forwhich can be attributed to their diverse
coding skills, a requirement that we firmly
believe will become the new norm in theyear ahead. With a short supply of talent
in the market and rising salaries,
organisations may prefer to invest in one
full stack engineer rather than hire two or
three regular engineers to perform thesame job.
TECHNOLOGY TRANSFORMING LIVES,
AND ENTERING THE AGE OF AI ANDROBOTICS
Focus in Mainland China has intensified in
the building and creating of products thattransform and impact people’s day-to-day
lives. Traditional manufacturing companies
are now investing heavily in innovation andstarting to lead the way in autonomousvehicles, smart homes and robotics. These
are all areas that are experiencing highdemand for software engineering talent
and will continue to do so in 2019.
If 2018 was the year of big data, then 2019
could well be the age of AI. AI is arguably
the biggest technology trend of the
moment, permeating through everythingfrom e-commerce to healthcare toautonomous driving. Mainland China has

52 | 2019 Hays Salary Guide - Asia

seen rise to a number of start-up automobile
manufacturers such as Nio and Byton inrecent years, and they are set to transform
cars into next-generation smart devices.
Other areas where Mainland China appears
to be making great progress is in robotics
and organisations are finding creative
ways to upgrade traditional manufacturing
through automation. From automatedcoffee bars to robotic food transportationand delivery, this is an industry that willcontinue to demand skills in softwaredevelopment and UI/UX.

HONG KONG
THREE AREAS TO WATCH - CLOUD, DATAINFRASTRUCTURE AND ADVANCEDANALYTICS
Demand in Hong Kong’s digital technology
space kicked into overdrive during 2018
and we expect the year ahead to see moreof the same. As a result, there is a sizable
gap in candidate demand, causing a sharp
increase in salaries which will continue torise through 2019.
The area with the largest demand growththrough 2018 were in data scientist andadvanced analytics roles. Hong Kong has
experienced a transformation in this area,
resulting in a shift in talent requirements.
Traditionally, sought-after candidates were
those with business intelligence and aManagment Information System (MIS)
background, but now the market instead
covets individuals with data science andmachine learning experience. This skillset
is difficult to locate in Hong Kong as mostemployers require candidates with at leasta master’s degree in a quantitative field,
although PhDs are preferable. Because ofthis gap in candidate supply many
companies are open to foreign candidates.
CANDIDATE SHORTAGES LEAD
COMPANIES TO LOOK OVERSEAS
As more companies in Hong Kong moved
to cloud solutions in 2018, demand in thisspace will continue to grow. The mostsought-after candidates are those with
PhDs in mathematics and more than two
years of working experience, withtechnical experience outweighing industry
experience. From a technical perspective,
candidates who have a background inwriting machine learning algorithms andpossess strong Python or R skills are mosthighly regarded. Because of this sharp
increase in demand and an openness tofinding candidates from overseas, thesalaries in this space have seen ameasurable increase, a state of affairs thatis likely to continue into 2019.
Data has become an essential part of ourdaily lives, and having the proper data
infrastructure helps to provide better
insights, efficiency and productivity. Overthe last year, Hong Kong has seen atremendous growth in data infrastructure
and advanced analytics.
DATA INFRASTRUCTURE ROLES AREEVOLVING AS ANALYTICS SALARIES RISE
Traditionally, companies looking to recruitfor the data infrastructure space havehired database specialists. However,throughout 2018 we saw an immense
demand for data engineers who not only
manage the databases, but build also
integrated data pipelines, data warehouses
and cloud-based data-lakes. Their roleplays a critical part in the design andimplementation of ETL processes to enrich
the growing data warehouse and cloudbased data lakes. Many Hong Kong
companies are actively seeking dataengineers with experience in prominent
data technologies such as Hadoop, Spark,
EMR, Pig and Mongo DB.

“Hong Kong is
experiencing asizable gap incandidate demand.”DIGITAL TECHNOLOGY

The most challenging task would be thedevelopment of accurate propensity or
predictive models through different
methodologies, such as clustering or
logistic regression. Again, candidates withexcellent programming skills in Python and
R and in possession of in-depth knowledgeof machine learning are highly valued.
Hong Kong companies will continue to look
locally and overseas for this talent, and as
the demand continues to grow, salaries are
expected to rise in 2019.

JAPAN
FINTECH, APPLICATIONS ANDCYBERSECURITY BUILD ON IMPRESSIVEGAINS
The past year was an excellent year for
digital technology talent in Japan, and we
expect to see the trend continue
throughout 2019 in the areas of web andmobile engineers, web and mobile
designers, AI specialists, cloud engineers,
cybersecurity experts, big data architects
and digital transformation consultants.
2018 saw the arrival of fintech as an industry
of consequence, and with the coming of
global blockchain entities competing withthe emerging local fintech companies, theneed for blockchain developers andcryptocurrency engineers has increased
substantially. However, despite the demandfor candidates, this should not translate intosalary increases as the newfound popularityof the role is proving to be a draw for agreat number of engineers interested in theburgeoning sector.
POPULARITY OF NASCENT AREAS IS
INHIBITING SALARIES DESPITECANDIDATE DEMAND
As was the case in 2018, the online video
streaming and e-commerce industries arecontinuing to push the demand for web
and mobile application developers using
Java, C#, Python, Swift, and Embedded C,
as well as cloud engineers who are
Amazon Web Services (AWS), Google
Cloud Platform (GCP) and Azure
specialists. Industries in which customer
behaviour patterns are analysed will still
drive the market for digital transformation
consultants and big data specialists using
Hadoop, Spark and NoSQL. However, as is
the case within the fintech domain, due tothe popularity of the sector demand will
not be matched by increased salaries.
We expect to see in 2019’s cybersecurity
sector a trend towards the recruitment ofapplication security experts. With theubiquity of apps in our day-to-day lives,companies understand the necessity forensuring the security of their applications.
Candidates with a strong knowledge ofthis area, as well as frameworks, attack
methods, and mitigation best practices
including OWASP, SANS and NIST will findthat this is their year.
THE REALITY OF VR IS INCREASEDSALARIES FOR DEVELOPERS
In Japan, as it is around the world, virtual
reality in the gaming industry is exploding,leading to certain salary increases for VR
and unity developers and C# developers inparticular. As has been the general trend,
there will still be a need for UI/UX
designers and UI/UX producers with astrong understanding of Japan’s gameindustry. Japanese gaming companies arewilling to pay a premium for experienced,
skilled and creative game designers.

MALAYSIAALTHOUGH NEW TECHNOLOGIES ARE
BEGINNING TO MAKE THEIR PRESENCE
FELT, TRADITIONAL LANGUAGES REMAIN
VERY MUCH KEY TO THE MARKET
Demand for functional SAP consultants
has increased due to the rapidly changing
technology and the introduction of new
product portfolios. In addition, there is arise in the adoption of S/4 HANA, which isin line with the industry-wide movetowards cloud technology.
We are beginning to see an increment in
the demand for newer technologies,
especially in blockchain, big data andcloud from the big players in the industry.
This movement is stimulating the local
talent market where candidates arelearning and adopting these technologies.
Typically, these individuals should expect
an annual salary starting at RM84,000,
with competitive salaries offered toexperienced local talent.
ADOPTION OF NEWER PROGRAMMINGLANGUAGES IS ON THE RISE
Traditional programming languages, suchas .NET & PHP, are still very much in themarket. These skills will remain in demand
for as long as the rest of the industry does
not move forward in new technology
adoption. However, newer back-end
languages, such as Node JS, allow for
more flexibility in coding and we areseeing an increasing adoption rate ofthese technologies in tech SMEs and some
MNCs. In front-end development, we areseeing a rising trend in the utilisation ofnewer JavaScript libraries such as Express
JS, React JS and Vue JS. Candidates withhands-on experience of these libraries inprevious positions are in exceptionallyhigh demand in Malaysia as moredevelopment houses are receiving new
projects which require these skills.
Solid understanding of programming
languages such as R, Python and MALLET
is a must. Also, it is required thatcandidates have practical experience withtools such as Tensorflow and Dialogflow
and have worked on projects with large
data sets. Demand for talent is increasing,and experienced data scientists expect
annual salary offers from RM120,000 andabove. As businesses put ever-moreemphasis on data benefits, we are
expecting to see an increase in demand
for this role.

“Candidates withskills in traditional
programming
languages are still in
ﬂavour in Malaysia.”

2019 Hays Salary Guide - Asia | 53

SALARY INFORMATION: DIGITAL TECHNOLOGY

As more companies in Hong Kong are
shifting to advanced analytics, theimplementation of the correct foundations
and infrastructure is essential. Data
engineers are working closely with data
scientists to provide processed, cleansedand verified data for analysis. Data scientists
typically possess an important role inperforming analysis with large data sets,collaborating with different business units in
identifying their needs, defining analyticalsolutions and providing key insights.

DIGITAL TECHNOLOGY
FOUNDATIONS IN STATISTICS,
HARDCORE CODING AND ALGORITHMIC
UNDERSTANDINGS PUT CANDIDATES AT
A STRONG ADVANTAGE

We expect intense competition to continue
in 2019 for the best talent across AI, data
science, cybersecurity, IoT, and full stackdevelopment.

Big tech giants such as Microsoft andAlibaba have already invested much of
their resources in AI research and arestarting to roll out AI powered products
for end customers. This means that job
opportunities are available for individuals
from hardcore programming backgrounds
who use languages such as R, Python andC++ and have an understanding ofcomplex data structures and algorithms. In
addition, skills in MATLAB and Google AI
tools such as Keras and Tensorflow givecandidates an advantage, as does having astrong foundation in a statistical platform,
meaning candidates with a PhD in
Mathematics or Statistics will have anedge over their competitors. As AI is being
enthusiastically embraced by Malaysiancompanies, not only will technicalcandidates be in demand, but researchlevel candidates who have spentconsiderable time undertaking R&D in AI
use cases will also be highly coveted.

AI APPETITE ON THE RISE AS ONE THIRDOF COMPANIES TO ADOPT WITHINTWO YEARSSINGAPORE

SALARY INFORMATION: DIGITAL TECHNOLOGYTHE FURTHERANCE OF SINGAPORE AS
AN R&D HUB, COMBINED WITH
GOVERNMENTAL INVESTMENT, PUTS
GREATER CREDENCE TO ITSPOSITIONING AS A PRIMARY PLAYER IN
ASIA’S DIGITAL TECHNOLOGY SCENEAs the government continues its
transformation of Singapore into a leading
digital-innovative economy, demand forrelevant highly-skilled candidates is on therise, and consequentially, salaries arefollowing this upward trajectory. As aresult, wage pressure is increasingly
evident amongst employers, especiallywhen recruiting experienced talent within
data analytics, cybersecurity and thedevelopment of emerging technologies.
Organisations are thus beginning to adjust
salary benchmarks in order to remaincompetitive in the market and we expect
this trend to continue in 2019. Conversely,companies slow to adopt these higher
benchmarks will soon find it an increasing
challenge to secure talent.

2018 saw the announcement of National
Research Foundation plans to invest up to
SG$150 million in its ‘AI Singapore’
programme, an initiative aimed atboosting the nation’s artificial intelligencecapabilities over the next five years. 35 percent of organisations in Singapore havedeclared plans to adopt AI within two
years, and there is no doubt that themarket will ramp up its appetite for AI
specialists skilled in the likes of natural
language processing (NLP), computer
vision, image diagnostics, predictive
maintenance and robotics.

“Companies in
Singapore will look tostrengthen theircandidate attraction
strategies in 2019.”

COMPANIES SEEK ‘UNICORNS’, BUT
MUST IMPROVE ATTRACTIONSTRATEGIESIn line with business digitalisation, thedemand for ‘unicorn’ developers with fullstack and mobile development capabilities
has been increasing significantly. Tool
agnostic candidates who are technicallyversatile in emerging front-end
programming and using HTML5, CSS3,
Angular, Vue and React, and back-end
languages such as Python, NodeJS and
GO are very much in demand. If
candidates are able to couple these skills
with strong knowledge in MySQL and
NoSQL databases, they can look forward
to commanding premium salaries in 2019and beyond.
2018 has shed light on the critical need forcompanies to find better ways to attract,
nurture, and retain talent in this growing
digital economy and ever-changing
technological landscape. In 2019, we expect
more companies to recognise this fact andto invest more heavily in strengthening
candidate attraction strategies to ensurethat their businesses can remaincompetitive in this talent-short market.

Singapore remains the primary regional
R&D hub for many organisations as anumber of innovation and digital labs
emerge. Notable industries to takeadvantage of Singapore’s benefits in thisarea include life sciences and engineering,from which a number of companies are
setting up their own ‘capability centre’ or‘Centre of Excellence’ (CoE) environments.

Over the next ﬁve years, CEOs across Asia expect AI to have a positive impact on:
Growth
Productivity

86%

Innovation

84%

Job creation

Data source: The Economist: AI, Automation and the future of jobs and skills and skills report54 | 2019 Hays Salary Guide - Asia

90%

69%

DIGITAL TECHNOLOGYDEVELOPMENT/DESIGN

Full-Stack Developer(Java/JavaScript)

Mobile Developer(Java/JavaScript)

Server-side Developer(Java/JavaScript)

Mainland China

400 - 650

300 - 500

300 - 600

Hong Kong

360 - 660

300 - 660

360 - 660

Japan

5 - 12

5 - 12

5 - 12

Malaysia

72 - 204

60 - 204

60 - 120

Singapore70 - 120

60 - 100

70 - 100

Front-End Developer(Java/JavaScript)

Web Designer(Java/JavaScript)

Mainland China

350 - 550

250 - 500

Hong Kong

240 - 480

216 - 420

Japan

5 - 12

4-8

Malaysia

60 - 120

60 - 108

Singapore70 - 100

60 - 100

Full-Stack Developer
Mobile Developer
Server-side Developer(MS.Net/Objective C/Swift) (MS.Net/Objective C/Swift) (MS.Net /Objective C/Swift)
Mainland China

350 - 550

300 - 500

300 - 600

Hong Kong

240 - 540

300 - 660

240 - 540

Japan

5 - 12

5 - 12

5 - 12

Malaysia

72 - 180

72 - 192

72 - 156

Singapore70 - 120

60 - 100

70 - 100

Front-End Developer
Web Designer(MS.Net/Objective C/Swift) (MS.Net/Objective C/Swift)
Mainland China

300 - 500

250 - 400

Hong Kong

240 - 480

216 - 420

Japan

5 - 12

4-8

Malaysia

96 - 120

60 - 96

Singapore70 - 100

60 - 100

Full-Stack Developer(UI/UX/HTML/CSS)

Mobile Developer(UI/UX/HTML/CSS)

Server-side Developer(UI/UX/HTML/CSS)

Mainland China

400 - 600

300 - 500

300 - 600

Hong Kong

240 - 540

300 - 660

240 - 540

Japan

5 - 12

5 - 12

5 - 12

Malaysia

72 - 180

60 - 180

60 - 180

Singapore70 - 120

60 - 100

70 - 100

Front-End Developer(UI/UX/HTML/CSS)Web Designer(UI/UX/HTML/CSS)

Mainland China

300 - 500

250 - 400

Hong Kong

216 - 420

240 - 840

Japan

5 - 12

4-8

Malaysia

60 - 180

84 - 180

Singapore70 - 100

60 - 100

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 55

DIGITAL TECHNOLOGYBIG DATA

Data Scientist(Hadhoop/Scala/Scala)Data Engineer(Hadhoop/Scala/Scala)Business Intelligence(Hadhoop/Scala/Scala)

Mainland China

500 - 1,000

300 - 450

320 - 500

Hong Kong

480 - 780

480 - 780

480 - 780

Japan

8 - 12

6 - 11

8 - 15

Malaysia

120 - 276

120 - 216

120 - 216

Singapore90 - 180

80 - 120

80 - 120

Data Scientist(R/SQL/MS.Excel)

Data Engineer(R/SQL/MS.Excel)

Business Intelligence(R/SQL/MS.Excel)

Mainland China

450 - 800

250 - 450

300 - 500

Hong Kong

480 - 780

480 - 780

480 - 780

Japan

8 - 12

6 - 11

8 - 15

Malaysia

144 - 300

144 - 240

96 - 192

Singapore90 - 180

80 - 120

80 - 120

CLOUD

Cloud Engineer(AWS/Azure/GCP)

Cloud Architect(AWS/Azure/GCP)

Cloud Consultant(AWS/Azure/GCP)

Mainland China

300 - 500

500 - 700

350 - 480

Hong Kong

480 - 660

720 - 1,080

720 - 1,080

Japan

5 - 10

8 - 13

7 - 12

Malaysia

120 - 216

180 - 300

180 - 300

Singapore

80 - 120

90 - 180

90 - 150

Cloud Engineer(Lambda)Cloud Architect(Lambda)Cloud Consultant(Lambda)Mainland China

300 - 400

500 - 700

350 - 450

Hong Kong

480 - 660

720 - 1,080

720 - 1,080

Japan

5 - 10

8 - 12

7 - 12

Malaysia

120 - 216

180 - 300

180 - 300

Singapore

80 - 120

90 - 180

90 - 150

IOT

Solution Architect - IOT(Predix/HCP IoT/
ThingWorx/Azure)

IOT Engineer(Predix/HCP IoT/
ThingWorx/Azure)Engineer - IOT Innovation(Predix/HCP IoT/
ThingWorx/Azure)

Mainland China

600 - 900

300 - 500

350 - 450

Hong Kong

720 - 1,080

480 - 660

480 - 660

Japan

8 - 13

5-8

5-8

Malaysia

240 - 384

168-264

180 - 360

Singapore90 - 180

80 - 120

90 - 150

NOTES• Salaries are represented in local currencies

56 | 2019 Hays Salary Guide - Asia

DIGITAL TECHNOLOGYCYBERSECURITY

Incident Respond
Digital Forensics
Specialist(EnCase/Blacklight/ (EnCase/Blacklight/
Wireshark)
Wireshark)

Cybersecurity
Consultant(EnCase/Blacklight/
Wireshark)

Mainland China

300 - 480

280 - 450

400 - 600

300 - 450

Hong Kong

360 - 720

600 - 1,200

360 - 1,200

360 - 720

Japan

8 - 1410 - 15

8 - 13

8 - 13

Malaysia

144 - 228

96 - 180

120 - 180

144 - 228

Singapore

100 - 180

110 - 150

90 - 120

120 - 150

Digital Forensics(Blackduck)

Incident RespondSpecialist(Blackduck)

Cybersecurity
Consultant(Blackduck)

Malware Reverse
Engineer(Blackduck)

Mainland China

300 - 450

250 - 350

350 - 500

300 - 450

Hong Kong

320 - 640

540 - 1,080

780 - 1,080

480 - 720

Japan

8 - 1410 - 15

8 - 13

8 - 13

Malaysia

144 - 228

96 - 180

144 - 216

144 - 228

Singapore

100 - 180

110 - 150

90 - 120

120 - 150

AI

AI Global Solution
Deep Learning
AI Developer
Architect
Project Manager(Java/C/C++/Python) (Java/C/C++/Python) (Java/C/C++/Python)

Mainland China

350 - 800

500 - 900

450 - 850

Hong Kong

720 - 1,020

960 - 1,080

900 - 1,320

Japan

6 - 12

9 - 13

8 - 12

Malaysia

96 - 192

180 - 360

180 - 360

Singapore

80 - 120

140 - 200

120 - 160

Malware Reverse
Engineer(EnCase/Blacklight/
Wireshark)

AI Global Solution
Deep Learning
AI Developer
Architect
Project Manager(Math/Vectors/Matrices/ (Math/Vectors/Matrices/ (Math/Vectors/Matrices/
Linear Algebra)
Linear Algebra)
Linear Algebra)
Mainland China

350 - 800

500 - 900

450 - 850

Hong Kong

420 - 840

300 - 900

1,200 - 3,600

Japan

6 - 12

9 - 13

8 - 12

Malaysia

144 - 216

180 - 360

180 - 360

Singapore

80 - 120

140 - 200

120 - 160

NOTES
• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 57

EDUCATION

MAINLAND CHINASALARY INFORMATION: EDUCATIONHUGE EXPANSION IN A WIDE ARRAY OF
AREAS IS SEEING MAINLAND CHINA’SEDUCATION SECTOR SCALE LEVELS OF
GROWTH LIKE NEVER BEFORECANDIDATES WITH OVERSEAS
EXPERIENCE COVETEDThe education training sector is flourishingwith openings for experts in sales, marketing,operations and academic development.
Curriculum experts specialised in K-12
extracurricular activities, language training,and science, technology, engineering, artsand mathematics (STEAM) subjects make forpopular candidates in 2019.

In light of Mainland China’s new education
development plan, the education job
market will continue to see remarkable
growth in 2019 as the industry’s
development reaches new heights. The
market is stepping into a new phase ofquality improvement, curriculum structure
optimisation and educational equity.

The quality of higher education in Mainland
China continues to improve, with local
universities bidding to enhance theirstandings as world-class institutions andeducation providers. As a consequence,candidates with exposure to theinternational education sector and inpossession of higher education management
skills are very much sought after. We arealso seeing talent demand in non-first-tierprovinces, which are emerging markets forvocational and professional education.

The overseas study consulting services
sector is also experiencing exponential
growth. While the number of students
pursuing university degree programmes
remains high, there has also been an
upward trend in student placements at theelementary and high-school level. In
Mainland China, parents have been looking
to enrol children in overseas study
programmes at increasingly younger ages.

Meanwhile, there has been an influx offoreign K-12 brands entering Mainland
China, boosting both international andbilingual school development. This has
resulted in an upturn in demand forcandidates to fill roles in marketing andadmissions, student enrolment, curriculum
development as well as businessdevelopment in order to identify newopportunities for investment funding.

INTERNATIONAL & BILINGUAL K-12
& MONTESSORI SCHOOLS

Subject
Teacher/Academic
Head Teacher Director

Admissions
Operations& Marketing Director/
Mgr/Director Bursar

SchoolHeadmaster/Principal

Mainland China

264 - 360

336 - 420

350 - 650

1,000 - 1,800

PUBLISHING HOUSESELT Teacher
Trainer

Chief Editor

Territory Sales Publishing/Account Mgr Manager

LicensingManager

GeneralManager

Mainland China

280 - 420

750 - 900

200 - 350

400 - 600

400 - 600

600 - 1,000

EDUCATION SERVICE PROVIDERS

Admissions/
Recruitment
Manager

Directorof Sales &MarketingAccount/BD
ManagerMarketingManager/
Director

Curriculum/
Product
Regional
Development Heads

Mainland China

240 - 400

750 - 1200

250 - 900

300 - 800

400 - 800

UNIVERSITY/BUSINESS SCHOOLS

Executive
Director/
Dean

CareerStudent
Development Marketing
University
ProgramAdministration
Mgr/Director Mgr/Director Representatives Mgr/Director Mgr/Director

Mainland China

1,000 - 1,500 300 - 600

240 - 650

PROFESSIONAL TRAINING CENTRES

CentreDirector

Regional
Director

Business
Student
Vice President/
Development Marketing
Services
GeneralManager
Mgr/Director Mgr/Director Manager

Mainland China

300 - 500

600 - 1,000

300 - 700

NOTES
• Salaries are represented in local currency

58 | 2019 Hays Salary Guide - Asia

• Salaries are representative of the base salary only

CANDIDATES IN A NUMBER OF AREAS
REQUIRED TO REACH TARGET
AUDIENCES
With AI and VR technology rampant in the
education sphere, online education
employers will be on the lookout forcandidates with specific skillsets in a numberof areas: sales conversion, leads and traffic
management, user experience, loyalty andretention rate improvement, as well as social
media and content development.
Publishing houses, especially thosewhich are foreign-operated, are also
seeking candidates with expertise inco-branding partnership, content rights
and licensing management.

540 - 800

500 - 850

400 - 1,000

300 - 600

200 - 400

800 - 1,200

200 - 450

800 - 1,500

FINANCE TECHNOLOGYWITH A MULTITUDE OF FACTORSAFFECTING THE RECRUITMENT MARKET,CANDIDATES WITH BLOCKCHAIN
EXPERIENCE ARE OF INCREASING VALUE
The sustained high demand for candidates in
Mainland China’s finance technology sector
in 2018 is expected to continue right throughthe coming year. There are a number offactors influencing the recruitment market,
with chief amongst them the domestic
economy, the rise of internet finance and theintroduction of new government regulations
for financial institutions.
While traditional financial firms — both
domestic and international — expect torecruit experienced talent with provenrecords to facilitate the launch of new
applications, local fast-growing internet
finance companies and fintech start-ups
are moving quickly to take the lead in thisniche market.
SOFTWARE AND DATA AREAS ARE
TALENT SHORT, WHILE P2P CANDIDATESLOOK TO SECURITY OR ELSEWHERE
Candidates with skills in Java, C++, mobile
development, algorithms and data are stillin great demand, and seeing ‘blockchain’
on a candidate’s CV is considered a
distinct advantage. Specific job roles
available are likely to be for softwaredevelopers, algorithm engineers, dataarchitects, data analysts and data
scientists, to name but a few. There is no
doubt that the newly-created vacancies
will far exceed the existing talent pool.
Owing to the bursting of the P2P market
bubble, some candidates are more willingto explore outside of the field, whileothers may be cautious when considering
P2P-relevant job opportunities. As a result,talent may be more favourable towards
positions at traditional banks, due to theirstrong funding and more stable andscalable business models, particularly
regarding innovation projects.
SALARY NO LONGER A KEY CANDIDATE
CONCERN
While candidates will always take salaryand benefits packages as a primaryconcern when switching jobs, in 2019 wewill see more consideration of acompany’s growth potential as well as the

career development opportunities they
provide. Also of greater relevance is how
candidates evaluate the long-term
development of a company and theriskiness of its business model.

Data scientists, data analysts, data
modellers and big data-related candidates
are also expected to remain in strong
demand over the coming year.

JAPAN
HONG KONG
FINANCIAL TECHNOLOGY RECRUITMENTREMAINS STRONG ACROSS BOTH
TRADITIONAL MULTINATIONALFINANCIAL INSTITUTIONS AND FINTECHSTART-UPS
The hiring of application development
candidates increased significantly in 2018
and we expect the demand to remainstrong in 2019. For banking firms, projects
to enhance front office trading systems
continue to be a primary objective, whilst
projects in middle and back offices arebeing driven by new regulatory
requirements, with several major insurance
firms still in the midst of IT transformation
programmes. The demand from fintech
start-ups for high-calibre talent withexpertise in digital payment systems,
digital asset management, blockchain andcryptocurrency continues apace, and we
expect qualified candidates to command
higher salaries in 2019.
START-UPS HOLD AN ADVANTAGE OVER
MORE TRADITIONAL INSTITUTIONS
Due to the shortage of local qualified
candidates in the current fintech space,
both banks and start-ups have been more
flexible in relocating superlative
candidates from overseas. However, in thistalent-short market, traditional banks areat a substantial disadvantage due to theirlonger interview processes, less-flexible
working environments and packages thatlack the stock options and equity as
offered by start-ups.

COMPETITION IS DRIVING UP SALARIESFOR EXPERIENCED AND JUNIORCANDIDATES ALIKE
2019 is looking like being another active
year of hiring in the finance technology
space, and as was the case in 2018, theyear ahead will continue to see recruitment
demands from investment banks in bothtechnical and non-technical areas.
Hiring for front office and middle officetrading application developers, mainlywith C++ or Java skills, will be active asbanks compete with each other to develop
the fastest and most reliable trading
applications on the market. This contest is
driving up salaries for experienced
industry veterans, while some banks arealso hiring junior candidates with future
potential — those who have strong
technical skills but lack industry
experience — at higher salaries than what
other industries can offer.
CLOUD, AUTOMATION AND APPLICATIONSUPPORT TO BE IMPORTANT AREAS OFRECRUITMENT
Investment banks will be looking to recruit
IT business analysts and IT project
managers in non-technical positions for arange of projects likely to happen this year.
These include increased automation, newcloud-hosted services, implementation andintegration of vendor systems andcustomisation of global systems for Japanuse. It will be a busy year and candidates
with experience in these projects are likely
to see salary increases.

RECRUITING COMPANIES MUST IMPROVEATTRACTION CREATIVITY
Candidates with an IT security backgroundare also in high demand, as firms set
cybersecurity as a high priority. IT audit
candidates are also in short supply, andwe are seeing companies compete for thesame candidates, creating upward
pressure on salaries as well as highlighting
the need for employers to be morecreative when recruiting.

“Candidates fromoverseas have been
recruited for roles
in banks and startups in Hong Kong.”2019 Hays Salary Guide - Asia | 59

SALARY INFORMATION: FINANCE TECHNOLOGYMAINLAND CHINA

FINANCE TECHNOLOGY
In other areas, hiring for application
support and infrastructure engineering
roles — including network engineers, Unix/
Linux server engineers, desktop supportand engineers — are likely to remain active
in 2019 across insurance, FT vendor, asset
and investment management, andinvestment banking industries. Salaries arelikely to remain similar to 2018 levels.
COMPANIES TO TAKE INCREASING NOTE
OF GOVERNANCE AT HOME ANDABROAD
Another sector that was active in 2018 andis likely to see enhanced hiring demands in2019 is the IT governance space.
Recruitment at insurance firms andinvestment banks is likely to increase forjob functions such as IT auditor, IT security
manager, and IT risk and control officer.
These needs are being driven by increased
regulatory oversight from the Japan
Financial Services Agency (JFSA), as wellas the desire for companies to keep Japan
offices in line with high compliancestandards used in other regions of theirglobal businesses. Candidates with theseskillsets will therefore see many
opportunities in the market this year andlikely receive salary increases if theydecide to move.

MALAYSIAFINTECH, DIGITALISATION,CYBERSECURITY AND AUTOMATION THE
MAIN TRENDS IN MALAYSIA’S
DIVERSIFYING FINANCE TECHNOLOGY
INDUSTRYSALARY INFORMATION: FINANCE TECHNOLOGY2018 was an interesting period of growthfor Malaysia’s fintech space. Bank Negara
Malaysia has historically taken an open but
cautious approach in the regulation of thesector, while offering encouragement
through the release of proposed guidelines
for open APIs and the regulation of
payment and crowdfunding frameworks.
We foresee substantial growth potential
for fintech in Malaysia, driven by newtechnology innovations and regulatorychange. This is expected to create more
job opportunities in the mobile and web
development, emerging technologies anddata analytics sectors.
Undoubtedly, the main trend of 2019 willbe the increasing digitisation andautomation of the financial services
industry. We have observed increasingneeds for automation within operations
and processes, with more robotics
deployed as cost saving measuresmeaning that Robotic Process Automation(RPA) developers are currently very muchin demand.
CLOUD COMES TO THE FORE, BUT OLDERTECHNOLOGIES REMAIN
Elsewhere, there has been a pronounced
increase in demand for network engineers
with experience in software defined network(SDN) as companies strive to improve
network agility and flexibility. In addition,
increased usage of cloud technology —especially private cloud within the FSI — hasallowed reliance on open-source
technologies within larger organisations.
However, candidates with skills in certain
older technologies that are required tomaintain legacy systems, such as Cobol, DB2

60 | 2019 Hays Salary Guide - Asia

and Mainframe, remain necessary due to a
critically low candidate supply.
With the increase of digital products
usage within financial services,
cybersecurity is a high priority for all firms.
We expect more organisations to focus
their attention on the strengthening of
capabilities across cybersecurity operation
centres (CSOC), security threat monitoring
and technology risk.
COMPETITION FOR CANDIDATES IS HIGHAS EMPLOYERS INCREASINGLYPRIORITISE TECHNOLOGY EXPOSURE
Meanwhile, data scientists, data modellers
and big data-related candidates are also
expected to remain in strong demand overthe coming year. This is resulting in higher
salary demands.
Hiring activity across the industry will becompetitive amongst traditional, digitalbanks and fintech start-ups. Salary will be amajor determinant for candidates
considering a move, however somecandidates equally value both career
progression and the exposure to technologythat a company is able to provide.

SINGAPORE
ENTREPRENEURIAL SPIRIT IS BEING
ENCOURAGEDThe Singapore government has continued
its provision of substantial support to local
talent and entrepreneurs, while pushinggender diversity issues to the forefront.
2018’s first and third quarters saw
significant demand for trading floor coders
in such numbers that it is unthinkable thatthe trend will not continue into the coming
year, particularly as incoming MAS
guidelines mean that there is a number oftransformation projects in the pipeline.
Elsewhere, as a result of recent
cyberattacks in Singapore and across the
APAC region, cybersecurity, threat
management, forensic and network
security are also high-demand specialisms.
In addition, with the adoption of newtechnologies comes new potential risk
factors, and information security andprivacy are high priorities in financial
services, with end-to-end encryption
catered for by fintech organisations.
DISRUPTIVE TECHNOLOGY BRINGS
DEMAND AND INNOVATIONAs traditional financial services firms look
to include new banking and payment
options such as blockchain andcryptocurrencies to their services, they are
expanding continuous effort and providing
greater budgets to fintech departments inorder to match the speed of newtechnological disruptions.
With the advent and rise of innovation
labs, there is a high demand for skilled
candidates who are able to showcase their
new and creative ideas, creating anecessity for both local and foreign talentfor projects.
FINTECH ON THE TRADING FLOOR NO
LONGER THE PRESERVE OF THE BIGHITTERS
Fintech now is no longer a mere buzzword
and is instead becoming an industry norm,
whether it originates in asset

management, private equity, capital
markets, banks or insurance companies. In
fact, it has grown in such prominence that
there is a number of small SME and roboadvisory companies that now provide
effective and precise trading floor services
with market connectivity across APAC andthe global market.
Through these developments, we can see
how the Singapore market is on a slow but
steady period of growth, particularly forlong-term entrepreneurs who are likely to
see marginal year-on-year increments offour to five per cent.

“Jobs are being
created in Malaysia
thanks to newtechnology
innovations andregulatory change.”

FINANCE TECHNOLOGYMANAGEMENTInfrastructureManagerDevelopment
Manager

IT Director

CIO

Mainland China

400 - 800

600 - 900

800 - 1,800

1,200 - 2,500

Hong Kong

1,100 - 1,800

1,100 - 1,800

1,200 - 2,000

1,500 - 3,200

Japan

15 - 20

15 - 20

20 - 40

25 - 80

Malaysia

162 - 222

150 - 310

250 - 540

480 - 780

Singapore150 - 300

150 - 300

200 - 400

350 - 600

SUPPORT FUNCTIONSApplication
SupportTeam Leader

FIX Connectivity Market Data
SupportEngineer

Application
Support Manager

Mainland China

250 - 450

400 - 600

200 - 400

600 - 800

350 - 650

Hong Kong

520 - 760

660 - 900

520 - 850

480 - 780

700 - 1,000

Japan

8 - 1214 - 16

8 - 148 - 1215 - 20

Malaysia

80 - 120

96 - 192

120 - 200

160 - 300

120 - 240

Singapore

60 - 120

115 - 260

100 - 180

100 - 200

120 - 260

OTHER

Quantitative
AnalystIT Security/
IT Risk

IT Audit

BCP Manager

Mainland China

400 - 600

420 - 750

400 - 700

400 - 700

Hong Kong

720 - 1,500

600 - 1,000

570 - 900

800 - 1,000Japan

15 - 25

12 - 20

13 - 20

12 - 20

Malaysia

150 - 240

144 - 480

120 - 240

120 - 180

Singapore

100 - 250

100 - 350

80 - 360

100 - 300

Project
ServiceCo-ordinators/PMO Delivery Manager Tester

Test Manager

Mainland China

250 - 500

450 - 750

250 - 350

400 - 600

Hong Kong

550 - 820

750 - 1,160

450 - 780

720 - 1,200

Japan

6 - 1012 - 18

8 - 1412 - 20

Malaysia

120 - 180

120 - 216

80 - 192

120 - 240

Singapore

80 - 130

120 - 220

84 - 150

150 - 250

The UN’s Economic and Social
Commission for APAC has put inplace measures that will enable
20,000 women entrepreneursin the region to have access toemerging ﬁntech solutions.

NOTES• Salaries are represented in local currencies

Source: www.unescap.org

2019 Hays Salary Guide - Asia | 61

To meet the fast-growing demand for talent recruitment inShenzhen, we moved to the China Resources Tower building in theheart of the Shenzhen Bay tech district in 2018.

FINANCE TECHNOLOGY
BUSINESS ANALYSTS
CASH(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

250 - 380

400 - 600

550 - 800

1,000 - 1,300

1,300 - 1,600

Hong Kong

330 - 550

600 - 950

920 - 1,500

1,200 - 2,000

2,000 - 2,800

Japan

8 - 1212 - 16

16 - 20

20 - 35

35 +Malaysia

60 - 90

100 - 180

170 - 240

N/A

N/A

Singapore84 - 110

110 - 150

130 - 220

N/A

N/A

DERIVATIVES(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

250 - 380

400 - 500

1,000 - 1,300

1,300 - 1,600

550 - 800

Hong Kong

350 - 650

750 - 1,200

1,000 - 1,500

1,500 - 2,000

2,000 - 3,200

Japan

8 - 1212 - 16

16 - 20

20 - 35

35 +Malaysia

60 - 90

100 - 180

170 - 240

N/A

N/A

Singapore90 - 120

120 - 160

140 - 200

N/A

N/A

ELECTRONIC TRADING

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

250 - 380

400 - 500

550 - 800

1,000 - 1,300

1,300 - 1,600

Hong Kong

600 - 860

720 - 1,200

1,000 - 1,500

1,600 - 2,200

2,200 - 3,600

Japan

8 - 1212 - 16

16 - 20

20 - 35

35 +Malaysia

96 - 144

130 - 192

168 - 240

N/A

N/A

Singapore90 - 120

120 - 150

150 - 240

N/A

N/A

NOTES
• Salaries are represented in local currencies

64 | 2019 Hays Salary Guide - Asia

FINANCE TECHNOLOGYPROJECT MANAGEMENT
CASH(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

450 - 1,000

1,000 - 1,300

1,300 - 1,600

Hong Kong

520 - 650

700 - 1,000

1,000 - 1,500

1,500 - 2,200

2,200 - 2,800

Japan

8 - 1212 - 16

16 - 22

22 - 40

40 +Malaysia

N/A

100 - 168144 - 264

240 - 336

320 +SingaporeN/A

102 - 140

140 - 200

240 - 280

300 +

DERIVATIVES(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

1,000 - 1,300

1,300 - 1,600

450 - 1,000

Hong Kong

520 - 800

650 - 1,000

1,000 - 1,500

1,500 - 2,200

2,200 - 2,800

Japan

8 - 1212 - 16

16 - 22

22 - 40

40 +Malaysia

N/A

100 - 168144 - 264

240 - 336

320 +SingaporeN/A

102 - 140

150 - 200

240 - 300

300 +ELECTRONIC TRADING

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

450 - 1,000

1,000 - 1,300

1,300 - 1,600

Hong Kong

600 - 860

720 - 1,200

1,000 - 1,500

1,500 - 2,200

2,200 - 3,600

Japan

8 - 1212 - 16

16 - 22

22 - 40

40 +Malaysia

N/A

140 - 170

180 - 300

240 - 336

350 +Singapore

N/A

110 - 150

160 - 250

250 - 400

400 +

NOTES
• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 65

FINANCE TECHNOLOGY
JAVA
CASH
(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

200 - 350

300 - 450

500 - 800

1,000 - 1,300

1,300 - 1,600

Hong Kong

420 - 650

700 - 1,000

900 - 1,500

1,500 - 2,000

2,000 +

Japan

8 - 1212 - 16

16 - 20

20 - 50

40 +Malaysia

70 - 100

90 - 160

160 - 220

220 - 350

300 +Singapore

60 - 80

90 - 140

175 - 220

220 - 300

280 +DERIVATIVES(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

450 - 800

1,000 - 1,300

1,300 - 1,600

Hong Kong

450 - 680

700 - 1,000

920 - 1,500

1,500 - 2,000

2,000 +

Japan

8 - 1212 - 16

16 - 20

20 - 50

40 +Malaysia

80 - 100

90 - 160

160 - 220

220 - 330

320 +Singapore70 - 90

110 - 140

175 - 220

220 - 300

280 +ELECTRONIC TRADING

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

500 - 800

1,000 - 1,300

1,300 - 1,600

Hong Kong

450 - 670

700 - 1,000

950 - 1,500

1,500 - 2,000

2,000 +

Japan

8 - 1212 - 16

16 - 20

20 - 50

40 +Malaysia

80 - 100

110 - 150

160 - 240

240 - 320

320 +Singapore

80 - 100

100 - 140

175 - 220

220 - 300

280 +

NOTES
• Salaries are represented in local currencies

66 | 2019 Hays Salary Guide - Asia

FINANCE TECHNOLOGYC++
CASH(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

220 - 350

300 - 450

450 - 1,100

1,000 - 1,300

1,300 - 1,800

Hong Kong

420 - 800

600 - 1,000

1,000 - 1,500

1,500 - 1,800

1,800 - 2,000Japan

8 - 1212 - 16

16 - 20

20 - 50

40 +Malaysia

70 - 90

90 - 160

150 - 220

220 - 320

300 +Singapore70 - 84

90 - 130

160 - 220

220 - 300

280 +DERIVATIVES(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

450 - 1,000

1,000 - 1,300

1,300 - 1,600

Hong Kong

420 - 800

750 - 1,200

1,000 - 1,500

1,500 - 1,850

1,800 - 2,000Japan

8 - 1212 - 16

16 - 20

20 - 50

40 +Malaysia

80 - 100

90 - 160

160 - 220

220 - 330

320 +Singapore70 - 90

90 - 140

150 - 220

220 - 300

280 +ELECTRONIC TRADING

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

450 - 1,000

1,000 - 1,300

1,300 - 1,600

Hong Kong

420 - 800

750 - 1,200

1,000 - 1,500

1,500 - 1,850

1,800 - 2,000Japan

8 - 1212 - 16

16 - 20

20 - 50

40 +Malaysia

90 - 110

110 - 150

160 - 250

240 - 330

320 +Singapore

80 - 100

100 - 140

175 - 220

220 - 300

280 +DERIVATIVES(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

450 - 1,000

1,000 - 1,300

1,300 - 1,600

Hong Kong

450 - 700

850 - 1,000

1,000 - 1,500

1,500 - 1,800

1,800 - 2,000Japan

8 - 1212 - 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

EXCEL/VBA/RADNOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 67

FINANCE TECHNOLOGYC#
CASH(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

350 - 500

500 - 750

1,000 - 1,300

1,300 - 1,600

Hong Kong

450 - 750

850 - 1,200

1,000 - 1,500

1,500 - 1,800

1,800 +

Japan

8 - 1212 - 16

16 - 20

20 - 50

40 +Malaysia

70 - 100

90 - 160

150 - 230

230 - 320

320 +Singapore

60 - 90

90 - 135

140 - 220

220 - 300

300 +DERIVATIVES(ALL ASSET CLASSES)

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

1,000 - 1,300

1,300 - 1,600

450 - 800

Hong Kong

450 - 750

850 - 1,200

1,000 - 1,500

1,500 - 1,800

1,800 - 2,000Japan

8 - 1212 - 16

16 - 20

20 - 50

45 +Malaysia

80 - 100

90 - 160

150 - 230

230 - 320

320 +Singapore70 - 90

90 - 135

140 - 220

220 - 300

300 +ELECTRONIC TRADING

Non-Officer(Associate)

AVP
Senior Associate VPED

MDMainland China

150 - 250

300 - 450

450 - 1,000

1,000 - 1,300

1,300 - 1,600

Hong Kong

450 - 750

850 - 1,200

1,000 - 1,500

1,500 - 1,800

1,800 +

Japan

8 - 1212 - 16

16 - 20

20 - 50

45 +Malaysia

90 - 120

110 - 160

170 - 240

240 - 350

350 +Singapore

80 - 100

100 - 140

150 - 220

220 - 300

300 +MAINFRAME, AS/400
COBOL

Non-Officer(Associate)

AVP
Senior Associate VP

Malaysia

70 - 90

100 - 150

150 - 240

ETL INFORMATICA, ORACLE PL/SQL, RDMS,
DATA WAREHOUSE, SAS
BUSINESS INTELLIGENCE

Non-Officer(Associate)

AVP
Senior Associate VPJapan

6 - 10

10 - 16

16 - 20

Malaysia

72 - 108

100 - 168150 - 240

NOTES
• Salaries are represented in local currencies

68 | 2019 Hays Salary Guide - Asia

FINANCE TECHNOLOGYINSURANCE
Database
Developer

Application
Architect/
Lead
Developer

Development Main Frame
ManagerDeveloper

8 - 146 - 1410 - 16

14 - 20

7 - 1260 - 120

72 - 108144 - 240

144 - 180

72 - 144

APPLICATION DEVELOPMENT- MIDDLE/BACK OFFICE

Excel/Visual
C++/Java/Basic
C# Developer Developer

Database
Developer

Application
Architect/
Lead
Developer

Development Main Frame
ManagerDeveloperJapan

6 - 12

6 - 12

6 - 1210 - 15

14 - 20

7 - 12

Malaysia

60 - 144

60 - 120

60 - 120

144 - 240

144 - 216

72 - 144

APPLICATION SUPPORT- FRONT OFFICE

Application
SupportTeam Leader Manager

Japan

6-8

10 - 1412 - 16

Malaysia

48 - 10884 - 144

132 - 192

APPLICATION SUPPORT- MIDDLE/BACK OFFICE

Application
SupportTeam Leader Manager

Japan

6-8

10 - 1412 - 16

Malaysia

48 - 10884 - 144

140 - 192

OTHERS

Business
Business
AnalystAnalyst(Front Office) (Back Office)

IT Security/IT
Risk
IT Audit

BCP Manager

Japan

7 - 1310 - 18

10 - 18

10 - 18

10 - 18

Malaysia

96 - 144

96 - 144

144 - 480

120 - 240

120 - 180

Project
Project
ManagerManager(Front Office) (Back Office)

ProgramManager

Project
ServiceCo-ordinators/ Delivery
PMO
Manager

Test Manager

Japan

7 - 1510 - 18

12 - 25

6 - 1210 - 20

10 - 25

Malaysia

120 - 192

120 - 192

180 - 240

72 - 108144 - 240

120 - 240

MANAGEMENT

Development Development
Infrastructure Manager Manager Manager
Front Office Middle/Back IT Director

CIO

Application
SupportManagerJapan

10 - 16

15 - 25

15 - 20

25 - 70

40 - 80

15 - 25

Malaysia

150 - 240

120 - 240

120 - 240

300 - 540

420 - 840

144 - 240APPLICATION DEVELOPMENT- FRONT OFFICE

Excel/Visual
C++/Java/Basic
C# Developer DeveloperJapan

8 - 14

Malaysia

60 - 144

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 69

HUMAN RESOURCES

MAINLAND CHINA

HONG KONGFERVENT RECRUITMENT ACTIVITYCONTINUES AS LOCAL COMPANIESEXPAND, GROW HR FUNCTIONS AND
BATTLE TO RETAIN KEY TALENTMORE EMPHASIS ON TECHNOLOGY WITH
CHINESE EXPANSION INTO HONG KONGRAISING REQUIREMENT FOR
BILINGUALISM

2018 bore witness to a considerable
upsurge in the recruitment of humanresources professionals due to accelerated
growth in the technological streamliningof HR functions in Mainland China. In
addition, a general trend of companies
addressing a requirement for middle tosenior-level talents in general HR, talentacquisition, and compensation andbenefits positions emerged.

Due to the increasing number of Chinese
businesses infiltrating the Hong Kong
market, and accelerating growth intechnology and business activities, 2018
saw wide-ranging activity in the hiring of
HR professionals. This activeness will
persist through 2019 as organisations
continue to pursue talent in a number ofareas, with HRBPs, talent and learning aswell as compensation and benefits
specialists particularly sought-after.

SALARY INFORMATION: HUMAN RESOURCESCHEMISTRY WITH PROSPECTIVE LINE
MANAGERS INCREASINGLY IMPORTANT
FOR CANDIDATESIn 2019 we will see continued demand forexperienced HR Specialists — such as HR
business partners (HRBPs), HR generalists
and compensation and benefits specialists— driven by both local companies and
MNCs, specifically in order to retain key
talent and develop HR functions. As aresult, employers are willing to offer
attractive salary packages to secure
capable talent in this candidate shortmarket. Compensation aside, candidates
will take into consideration other aspectsof job offers such as industry type,responsibilities, and chemistry with aprospective line manager.
CHINESE FORAYS OVERSEAS MEAN
CANDIDATES WITH MNC EXPERIENCEARE COVETEDDue to the ever-expanding global
footprints of Chinese corporations,competition for talent will be severe, as
once highly desirable MNCs become
increasingly superseded by local giants as
the workplace of choice.
We can expect favourable hiring activity
to continue throughout 2019 as local
companies look to develop their businessand operations outside of Mainland China,
and candidates who have worked for
MNCs abroad will be consideredhighly attractive.
With continued structural changes withinorganisations, we expect demand for HR
professionals to swell in Mainland China in
the coming year.

70 | 2019 Hays Salary Guide - Asia

DIGITAL TRANSFORMATION IS ALL THE
RAGE
From MNCs driving digital transformation
to start-up firms specialising in financial
technology, businesses are placing agreater emphasis on technology. HR
advisory is especially required by businessleaders in order to develop highly
technological and specialised teams.
HRBPs or HR generalists withtransformation and change management
expertise are therefore likely to be in great
demand in the coming year.
In addition, specialists in compensation
and benefits and talent management
remain sought after, and as salaries staycompetitive in this talent-short market,
employers are offering enticing packages
in order to acquire candidates in theseareas, a trend that is highly likely tocontinue in 2019.
As Chinese organisations continue toexpand rapidly throughout Hong Kong,
employers prefer HR talent with bilingual
capabilities as well as exposure to Chinese
culture. Candidates who possess an acuteunderstanding of a company’s business, astrong commercial acumen, and the ability
to influence key stakeholders usually holdan advantage.
OFFERS OF FLEXITIME ANDRESPONSIBILITIES UNDER CANDIDATECONSIDERATION
Across the industry salaries are increasing
gradually while other benefits such asallowances and flexible hours do likewise,
as companies look to attract and retain

talent. Candidates receiving offers will
generally consider the overall package —including monetary reward, job scope andresponsibilities — but remain open tonegotiation before making final decisions
about their offer acceptance.

JAPAN
THE YEAR AHEAD WILL BE TYPIFIED BY
MORE JUNIOR-LEVEL HIRING AND A
SHIFT TOWARDS DIRECT SOURCING
Recruitment activity for HR roles remained
relatively stable throughout 2018. While
there was a strong emphasis on
replacement positions across all levels,
companies also saw slight increases in thenumber of new headcounts throughout
the year.
In particular, talent acquisition, HRBP and
HR operation positions were in highdemand in 2018, as organisations shifted
towards direct sourcing and were willingto offer competitive packages to obtain
the best talent, especially for HRBP roles
based in rural areas.
JUNIOR CANDIDATES TO HAVE GREATER
POWER IN NEGOTIATIONInterestingly, organisations have proved
more open to hiring candidates who areyoung, intellectual and logical but havemore potential than those with HR
experience, although they remain strict
when it comes to educational
backgrounds. This creates morecompetition and affords junior candidates
in the market higher bargaining power.
We have seen a number of start-up
organisations in the IT and service
industries enter the Japan market, manyseeking talent acquisition specialists or
stand-alone HR generalists and managers.
Proactive, business-savvy and influential
professionals are required to communicate
with international teams.
Overall, in Japan’s candidate-short HR
market there is also an increasing need for
efficient interview processes as well ascompetitive packages which include
flexitime and work-from-home schemes.

HUMAN RESOURCES
THE EXPECTATION OF A DIGITALEXPLOSION IS PROMPTING COMPANIESTO UPSKILL EMPLOYEESAs in previous years, in 2019 we will notsee organisations offering significant
salary increments to HR professionals. As
a result, HR jobseekers will need to beflexible in terms of salary expectations.
Be that as it may, due to the increasingneed for companies to future-proof theirworkforce in the face of Malaysia’s digitalboom, we foresee a high demand forlearning and talent management
specialists across various industries.
FINANCIAL SERVICES AND FMCGSECTORS SEEKING HR ANALYTICSCANDIDATESHR analytics professionals are also highly
sought after, and companies are on thelookout for individuals who are capable ofdriving HR data analytics initiatives andutilising data to make insightful
predictions, a trend that is most apparent
in the financial services and FMCG sectors.
In addition, there is a proliferation of major
MNC SSCs based in Malaysia. Seasoned HR
professionals who have experience insetting up SSCs with multiple functions
from scratch are a rare find and much
coveted by employers.
START-UPS PURSUING BUSINESSCONSULTING TALENT THWARTED BY
BUDGETARY RESTRAINTS
SMEs in Malaysia, on the other hand, arelooking for HRBPs who are hands-on ininternal processes. While these businesses
value conceptual thinking andcommercially-minded individuals, most ofthese teams are lean therefore requiring
employees to be involved in day-to-day
operations, a situation which may contrast
with larger organisations. Many companies
in the start-up space prefer candidates
from business consulting backgrounds, but
often do not have the salary budget
required for individuals with the necessary
extensive experience.

SINGAPORE
WITH A MARKET UPSURGE ON THE WAY,
2019 IS LOOKING POSITIVE FOR TALENTACQUISITION ROLES
2018 saw spurts of recruitment activity
from a variety of market sectors at differing
times throughout the year. The commerce

and industry sector generally took the lead
although the recruitment process and time
to hire has lengthened significantly inresponse to a larger pool of candidates andhiring managers taking their time to findthe right person for their vacancies.
The banking and finance sector has
remained consistent with previous years,
where hiring activity revolved aroundreplacing critical roles, although thisslowed down towards the end of 2018.
ARRIVAL OF MNCS MEANS MORE ROLESAT DIRECTOR LEVEL
Overall, HRBP and talent acquisition rolesof all levels are increasing in demandacross the board. There is also a positive
outlook for senior HR professionals as themarket picks up in 2019. With theconsistent influx of global companies
establishing their APAC headquarters in
Singapore, new roles are being created at
director level and we expect further
growth in this area in the coming year.
Organisations are continuing their focus
on talent retention while restructuring
their HR teams to become morestreamlined. Accordingly, the need for HR
professionals within the shared services
environment and in the CoEs will be on
the rise.
Salary-wise, compensation for HR
professionals will remain steady in thenear future. Job seekers have beenpractical in their remuneration
expectations and do not necessarily look
for an increment when switching jobs, andare instead more inclined towards career
progression opportunities.
As with the past 12 months, we expect aheightened requirement for temporary
and contract professionals as employers
hold off on permanent headcounts,
especially within the banking sector. Bothcandidates and employers are becoming
increasingly accepting of this concept for
HR functions.

“The recruitmentof temporary andcontract workers willcontine to increase in
Singapore throughout
the whole of 2019.”
Top tips for the next generation of HRDs

Be commercially aware

1

Establish stakeholder engagement skills

2

Find out what a business needs
not what a business wants

3

Build strong relationships
with your counterparts
Develop your people skills

4
5

Source: Hays Asia DNA of an HRD released in July 20172019 Hays Salary Guide - Asia | 71

SALARY INFORMATION: HUMAN RESOURCES

MALAYSIAHUMAN RESOURCES
Regional HR Director/ Regional HR Director/ HR Director/Head of HR Director/
SVP of HR (15+ yrs) VP of HR (10+ yrs)
HR (8-10+ yrs)
Head of HR (<8 yrs)
Mainland China

1,500 - 4,000

800 - 1,500

500 - 1,000

400 - 800

Hong Kong

1,200 - 2,280

960 - 1,500

960 - 1,200

840 - 1,200

Japan

N/A

18 - 30

16 - 30

13 - 17

Malaysia

360 - 600

265 - 420

240 - 300

180 - 240

Singapore

250 - 400

220 - 250

180 - 220

150 - 180

Regional HR Manager/ HR Manager/HRBP
HRBP (10+ yrs)
(10+ yrs)

HR Manager/HRBP(6+ yrs)

Assistant HR
Manager (4+ yrs)

700 - 1,000

400 - 800

350 - 500

200 - 350

Mainland China
Hong Kong

960 - 1,440

720 - 1,200

480 - 600

300 - 480

Japan

13 - 18

11 - 16

8 - 13

7 - 10

Malaysia

180 - 360

140 - 240

102 - 192

72 - 120

Singapore150 - 185

120 - 150

80 - 120

70 - 100

Regional TalentAcquisition Director(12+ yrs)

Regional Talent
Senior HR
Acquisition Manager Executive(10+ yrs)(5+ yrs)

HR Executive(2+ yrs)

Mainland China

800 - 1,600

500 - 900

150 - 300

100 - 240

Hong Kong

840 - 1,200

540 - 840

300 - 480

150 - 360

Japan

N/A

15 - 20

6 - 10

5-7

Malaysia

180 - 300

145 - 216

72 - 96

48 - 72

Singapore180 - 250

150 - 180

55 - 65

40 - 55

TA/Recruitment
Manager (8+ yrs)

TA/Recruitment
Specialist (5+yrs)

TA/Recruitment
Campus Recruiter
Coordinator (3+ yrs) (3+ yrs)

Mainland China

300 - 700

150 - 300

100 - 150

100 - 250

Hong Kong

540 - 720

360 - 540

216 - 360

264 - 360Japan

12 - 17

7 - 12

4.5 - 6.5

6 - 10

Malaysia

110 - 180

72 - 120

54 - 72

54 - 180

Singapore

100 - 150

60 - 90

40 - 50

50 - 72

Regional L&D
Director (10+ yrs)

Regional L&D
Manager (10+ yrs)

L&D Manager(5+ yrs)

L&D Officer(3+ yrs)

Mainland China

800 - 1,200

500 - 800

200 - 650

100 - 250

Hong Kong

900 - 1,560

720 - 960

450 - 750

216 - 336

Japan

15 - 20

12 - 18

9 - 15

7-9

Malaysia

215 - 384

180 - 252

108 - 192

60 - 108

Singapore180 - 300

120 - 180

80 - 120

60 - 80

NOTES• Salaries are represented in local currencies

72 | 2019 Hays Salary Guide - AsiaHUMAN RESOURCES
Regional Director
Compensation &Beneﬁts (12+ yrs)

Regional Compensation Manager& Beneﬁts
Compensation &Manager (10+ yrs)
Beneﬁts (8+ yrs)

Compensation &Beneﬁts Specialist(3+ yrs)

Mainland China

800 - 2,000

600 - 1,000

400 - 700

150 - 300

Hong Kong

960 - 1,800

720 - 900

480 - 720

300 - 400

Japan

15 - 2212 - 1710 - 16

6 - 10

Malaysia

300 - 420

180 - 300

120 - 192

78 - 120

Singapore180 - 300

150 - 180

120 - 150

80 - 120

HRIS Manager(8+ yrs)

HRIS Administrator(3+ yrs)

Mainland China

200 - 550

100 - 200

Hong Kong

480 - 720

180 - 360

Japan

8 - 13

5-8

Malaysia

90 - 180

50 - 84

Singapore

80 - 120

40 - 60

Organisational
Development
Manager (10+ yrs)

Shared Services
Manager (8+ yrs)

Payroll Manager(8+ yrs)

Payroll Officer(3+ yrs)

Mainland China

500 - 1,200

400 - 700

300 - 600

100 - 180

Hong Kong

660 - 900

480 - 720

480 - 720

216 - 336

Japan

12 - 18

10 - 15

9 - 13

5-9

Malaysia

180 - 336

180 - 300

110 - 180

60 - 80

Singapore120 - 250

90 - 220

90 - 175

50 - 90

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 73

INFORMATION TECHNOLOGYMAINLAND CHINASALARY INFORMATION: INFORMATION TECHNOLOGY

DRIVEN BY A NUMBER OF FACTORS, THE
IT MARKET WILL REMAIN STRONG IN 2019

realise that software is core to businesssuccess and customer understanding
throughout the customer life cycle.

Market competition in this fast-growing,
more connected business environment ispushing Chinese enterprises to accelerate
their digital transformation programmes in
2019, with emerging technologies as thedriving force. Technologies such as big
data, cloud, IoT, and AI enable enterprises
to not only maximise customer value
across the entire life cycle, but also help
achieve efficiency and agility for
operational excellence.

HONG KONG

STRATOSPHERIC DEMAND FOR AI
TALENT

Due to recent regulatory changes and anincrease in global cybercrime, companies
have rapidly expanded their security
teams over the past few years. Whilefinancial institutions have traditionallybeen responsible for the majority of hiring,non-financial companies have realised theimportance of cybersecurity and a number
have begun cybersecurity programmes.

Of these technologies, from business
operations to customer experiences, it is AI
that is at the forefront of thistransformational change in Mainland China.
AI is radicalising a number of industries
including education, banking, healthcare,security, manufacturing and industry. Dueto its revolutionary nature, the demand for
AI is expected to be exceptionally high in
2019, having already received considerable
support at the national level, with thegovernment endowing it the status of ‘key
national strategy’.
The reason behind this immense
governmental assistance is Mainland
China’s aims to be the global AI leader
by 2030.
AI SALARIES UP 35 TO 50 PER CENTAI and big data are the two highest paid
fields due to the huge demand for talent.
Graduates and experienced AI candidates
in computer vision, voice recognition, andnatural language processing are hotcommodities in the market. This vociferous
demand has seen AI related salaries
increase from between 35 and 50 per
cent, and fresh graduates with a bachelor’s
degree can make between RMB300,000
to RMB500,000 a year. Candidates
operating in AI can make 50 per centmore than those in other industries.
In addition to technical aspects,
investment in Mainland China’s IT sector
will continue focus on software andservices in 2019. Hardware spending will
still dominate, but growth will be flat,
while decision makers have come to

74 | 2019 Hays Salary Guide - Asia

2018’S STORIES OF MASS CYBERCRIMEHAVE SPAWNED A BOOM IN IT SECURITY
AND CANDIDATE DEMAND IS
STRUGGLING TO KEEP UP
Demand in the information security spacein Hong Kong remains high, particularly
for junior to mid-level candidates andsenior candidates with people
management experience.

As a consequence, demand for candidates
has exceeded supply, resulting inincreased salaries. Moreover, to combat
the talent shortage, open-minded hiring
managers who recruit based on a
candidate’s ability to learn have found it
easier to fill their headcounts.
Furthermore, it goes without saying thatthose who continue to hire by adhering tochecklists have found their roles remain
open for as long as six months to a year.
THOUGH UNPOPULAR, IT AUDIT IS AN
AREA WITH EASY CANDIDATE ACCESSIn terms of skillsets, candidates who are
proficient in penetration testing remain inhigh demand. Moreover, while it isconsidered dry by some, individuals whoare interested in pursuing a career in IT
audit will also find endless opportunities.
On the infrastructure front, service
providers have experienced healthy
growth over the past year due to theincreased business activity of their clients.
As a result, helpdesk specialists andsystem engineers are highly coveted.
STRICTER PROCESSES TO SCREENTALENT WITHOUT HANDS-ON
EXPERIENCE
Network engineers, too, continue to bemuch sought after. However, despite theenthusiastic competition in the market,
some firms have been subjecting
applicants to more stringent screening
processes to filter out candidates who
may possess good technical knowledge
but do not necessarily have the practicalskills to perform the job.
As such, companies are willing to pay a
premium to network engineers.

JAPAN
ENTERPRISE TECHNOLOGY AND THE
DIGITAL SECTOR HAVE SUSTAINEDRECRUITMENT NEEDS THAT WILLCONTINUE INTO 2019
Organisations across the retail andpharmaceutical industry are further
increasing their levels of IT investment,
something that is in turn generating agreater need for IT strategy solution
professionals, IT consultants, and project
managers. We anticipate an even greater
increase in candidate demand acrossseveral sectors including hospitality, retail,and other IT services. This development
comes as companies look to plan, design,
and implement new infrastructure, with
the intention of further improving internal
or client business processes aligned toapplications such as SAP, CRM (Veeva),
and other digitalised systems.

“Mainland China aims
to be the global AI
leader by 2030.”

INFORMATION TECHNOLOGY
Within the retail sector, omnichannel
retailing has been the dominant strategy,
leading companies to strengthen theire-commerce functions on mobile anddesktop platforms. The great number ofprojects related to launching or extending
this platform has created demand forcandidates with technical knowledge in
e-commerce in order to enhance digitalcontents for modern-day consumers.
Within the IT consulting sector, thedemand for strategy consultants, industry
consultants, and other highly skilled
professionals is outpacing supply.
Employers will find it challenging to fill
mid-career level roles due to fierce
competition, explicitly in the Japanbilingual market.
GRADUAL SALARY INCREMENTS IN THE
YEAR AHEAD
Given the high demand for IT engineers, IT
consultants, and IT project managers
across various sectors of enterprisetechnology, we expect salaries togradually increase throughout thecompetitive market of 2019.

very much a staple of the market. Skills inthese areas will remain necessary for as
long as the rest of the industry resists the
adoption of new technologies.
E-COMMERCE INUSTRY TO EXPAND, AND
CYBERSECURITY A KEY CONSIDERATIONAs the mobile penetration rate increases,
mobility will be a key factor fororganisations in Malaysia. There is anincreasing trend to adapt mobile usage
and products via portable devices, paving
the way for the e-commerce industry. This
sector will grow rapidly, leading to agreater need for digital, payment andanalytics candidates to cater for the moresophisticated consumer needs.
There is high demand for cloudinfrastructure as organisations plan toemploy the emerging trend for cloudbased analytics, meaning that the need forcybersecurity professionals will growexponentially.
UPSKILLING KEY TO COUNTERINGTALENT SHORTAGESMALAYSIA

IT candidates are required to be versatile
and able to adapt quickly as the technology
is rapidly evolving. The demand for talentremains significantly higher than the
supply, leading some organisations to turnto current employees and develop themthrough retraining and upskilling.

MALAYSIAN COMPANIES LOOKFORWARD TO MARKET GROWTHSINGAPORE

Malaysian organisations are coming to termswith the necessity for digital transformation
following the economic pressures andindustrial changes of 2017. Other thandigitalisation, the IT market has been
redefined to anticipate future technological
growth. We are beginning to see a rise in
the demand from the big players in themarket for newer technologies, especially inblockchain, big data and cloud.
Demand for functional SAP consultants
has increased due to the introduction of
rapidly changing technology and new
product portfolios. Projects related toautomation or upgrades of ERP have been
implemented over the past year toencourage cost efficiency.
Despite the emergence of newer
technologies, traditional programming
languages such as .NET and C#. are stillwork in a large-scale server environment ishighly sought after amongst companies
looking to ensure server reliability. Other
areas of infrastructure that are in demand
are helpdesk engineers and systemengineers, and we foresee these positions
remaining strong in the market over the
coming months.
CYBERSECURITY CANDIDATES SHOULD
PLACE GREATER EMPHASIS ON
EXPERIENCE OVER ACCREDITATION
Cybersecurity was another topic of note in2018 as Singapore reviewed its current
national security measures and policies.
Candidates are approaching security
certifications with great interest, but
employers are placing greater value on
work experience and hands-on ability.
SALARIES FACING UPWARD PRESSURE
FROM WELL-FUNDED START-UPS
Well-funded start-ups are prepared to pay
above market price in order to acquire thebest talent for their teams, though smaller
companies with tight budgets may
struggle to attract candidates if theirsalary range is not in line with thecompetitive market. As the demand forcloud, security and DevOps engineers
increases, we expect salaries to remainstrong and rise throughout 2019.
Organisations throughout a number ofindustries including pharmaceutical,
e-commerce, gaming, education, andmedia are looking to hire.

CLOUD TRANSITIONING AND DEVOPSPRACTICES ARE AREAS OF KEY NOTE IN
2019 AS THE SINGAPORE GOVERNMENTOFFERS STRONG ENCOURAGEMENT FOR
THE IT SECTOR
Technology in Singapore has been
growing steadily as the thriving industry
receives strong support from thegovernment. The nation recognises theimportance of having a strong
infrastructure in place, and we are seeing agreat number of new initiatives being
established in order to develop fresh talentand skills amongst local candidates.
More enterprise businesses are transitioning
their traditional infrastructure onto cloud
and taking on DevOps practices. There isalso a strong trend of Linux engineers
working on cloud in e-commerce andinternet companies, and their ability toBest technology
locations in Asia:
1. Bangalore
2. Singapore
3. Shenzhen
4. Beijing
5. Hyderabad & Hong Kong
Source: Colliers International, 2018 Top Locationsin Asia: Technology

2019 Hays Salary Guide - Asia | 75

SALARY INFORMATION: INFORMATION TECHNOLOGYLARGE NUMBER OF OMNICHANNELPROJECTS PUSHING PURSUIT OF
E-COMMERCE CANDIDATESINFORMATION TECHNOLOGYDEVELOPMENTANALYST PROGRAMMER

MS.Net/J2EE

VB6/ASP/SQL/Delphi/C++

Oracle Forms/
Reports

Mainland China

300 - 550

250 - 350

180 - 350

Hong Kong

264 - 456

264 - 456

240 - 456

Japan

6-9

6-9

8 - 12

Malaysia

60 - 85

60 - 85

60 - 85

Singapore

50 - 75

50 - 75

55 - 90

SENIOR ANALYST PROGRAMMER

MS.Net/J2EE

VB6/ASP/SQL/Delphi/C++

Oracle Forms/
Reports

Mainland China

320 - 500

280 - 420

300 - 420

Hong Kong

420 - 660

384 - 600

384 - 660

Japan

8 - 12

8 - 12

8 - 13

Malaysia

90 - 120

90 - 120

70 - 100

Singapore72 - 100

72 - 100

55 - 90DATA SPECIALISTS

Data Architect

Database
Administrator

Data Modeller

Data Warehouse
Consultant
Data Analyst

Mainland China

500 - 1000

250 - 450

300 - 600

300 - 400

350 - 600

Hong Kong

540 - 900

420 - 660

420 - 700

420 - 840

384 - 660

Japan

10 - 15

8 - 1210 - 1410 - 15

8 - 13

Malaysia

120 - 240

120 - 180

144 - 216

120 - 216

96 - 144

Singapore

105 - 165

72 - 120

70 - 120

60 - 100

85 - 160

MANAGEMENT ROLES

Development
Team Leader

Development
Manager

Mainland China

450 - 750

600 - 900

Hong Kong

720 - 1,050

900 - 1,500

Japan

9 - 1515 - 17

Malaysia

120 - 198

180 - 264

Singapore

105 - 156

132 - 200

SOFTWARE TESTING

Test Analyst

Senior Test
AnalystQA Manager

QA Director

Mainland China

150 - 250

300 - 500

420 - 630

580 - 850

Hong Kong

420 - 800

600 - 1,000

600 - 850

700 - 1,100

Japan

6-8

8 - 10

9 - 1310 - 15

Malaysia

75 - 90108 - 144

180 - 216

264 - 330

Singapore

55 - 90

68 - 105

84 - 108

165 - 225

NOTES
• Salaries are represented in local currencies

76 | 2019 Hays Salary Guide - Asia

INFORMATION TECHNOLOGYINFRASTRUCTURE
WAN

Cisco
Engineer

Voice/
Comms
Engineer

Network
DesignTechnical
Architect

Solutions &EnterpriseArchitect

NOC
Engineer

Mainland China

180 - 300

220 - 350

300 - 450

350 - 500

400 - 550

150 - 220

Hong Kong

500 - 800

560 - 1,000

550 - 1,000

760 - 1,400

760 - 1,400

460 - 760

Japan

8 - 148 - 1210 - 13

11 - 15

11 - 15

6-8

Malaysia

78 - 100

96 - 144

120 - 160

120 - 216

180 - 300

84 - 120

Singapore

55 - 100

50 - 95

90 - 150

120 - 180

140 - 220

45 - 60

SYSTEMS ADMINISTRATION

Unix Admin

Sybase/Oracle/MS
SQL DBA

StorageEngineer

Voice
Engineer

NetworkEngineer

Windows(Wintel)Admin

Mainland China

280 - 450

350 - 580

280 - 380

200 - 280

200 - 350

150 - 300

Hong Kong

500 - 900

470 - 800

460 - 860

660 - 950

480 - 860

420 - 800

Japan

7 - 10

7 - 11

8 - 12

7 - 11

7 - 11

7 - 11

Malaysia

84 - 144

96 - 180

96 - 180

96 - 144

96 - 144

60 - 100

Singapore70 - 120

70 - 150

75 - 125

45 - 100

65 - 130

55 - 90TECHNICAL SPECIALIST

SecurityEngineer

Security
Consultant

MessagingSpecialist

Unix
Consultant

Pre Sales
Engineer

Mainland China

350 - 550

350 - 600

N/A

N/A

250 - 400

Hong Kong

500 - 800

700 - 1,100

620 - 1,000

500 - 900

500 - 920

Japan

8 - 13

8 - 158 - 12

8 - 1210 - 16

Malaysia

72 - 192

120 - 216

120 - 180

96 - 180

96 - 180

Singapore70 - 125

100 - 15575 - 120

80 - 140

120 - 190

MANAGEMENT ROLES

Helpdesk
Manager

Network
Manager

IT Manager

Mainland China

280 - 480

300 - 500

400 - 800

Hong Kong

480 - 920

600 - 1,000

760 - 1,200

Japan

9 - 1210 - 14

11 - 16

Malaysia

96 - 150

120 - 180

120 - 180

Singapore85 - 140

100 - 160

100 - 190

NOTES
• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 77

INFORMATION TECHNOLOGY
BUSINESSANALYSIS & PROJECTTechnical Business
Administration

Business/
Process Analyst

Systems Analyst

Mainland China

250 - 380

300 - 550

250 - 400

Hong Kong

460 - 760

460 - 840

360 - 660

Japan

7 - 10

9 - 12

9 - 12

Malaysia

120 - 180

96 - 150

90 - 144

Singapore120 - 175

110 - 150

90 - 130

Project Manager

Project/
Program Director

IT Audit

320 - 600

550 - 1,200

350 - 580

Mainland China
Hong Kong

580 - 950

900 - 1,400

600 - 1,000

Japan

8 - 1412 - 16

8 - 13

Malaysia

100 - 180

216 - 360

96 - 180

Singapore120 - 190

190 - 280

90 - 175

ERP/CRM

PeopleSoft
Technical

PeopleSoft
Functional

Basis
Administration

SAP Analyst

Mainland China

250 - 420

250 - 450

150 - 200

220 - 450

Hong Kong

520 - 850

650 - 900

430 - 650

500 - 1,000Japan

11 - 15

9 - 14

9 - 12

9 - 13

Malaysia

90 - 150

100 - 180

90 - 160

96 - 144

Singapore

80 - 130

90 - 170

90 - 150

75 - 130

SAP Functional
Consultant

ABAP Developer

Oracle Developer

ERP ProjectManager

Mainland China

300 - 500

250 - 450

220 - 350

600 - 930

Hong Kong

520 - 1,000

500 - 800

600 - 800

1,000 - 1,450

Japan

10 - 14

9 - 12

9 - 12

9 - 13

Malaysia

144 - 240

70 - 120

80 - 144

144 - 300

Singapore95 - 160

55 - 85

66 - 110

120 - 200

NOTES
• Salaries are represented in local currencies

78 | 2019 Hays Salary Guide - Asia

INFORMATION TECHNOLOGY
BUSINESSMANAGEMENT ROLES

Data Centre
Manager

Service Delivery
Manager

Client RelationshipManager

Professional
Services Manager

Mainland China

500 - 1,100

600 - 1,000

400 - 800

600 - 1,200

Hong Kong

650 - 1,100

700 - 1,100

700 - 900

1,000 - 1,800

Japan

8 - 10

11 - 15

11 - 15

12 - 16

Malaysia

144 - 240

120 - 180

160 - 260

180 - 300

Singapore

110 - 170

160 - 280

160 - 250

160 - 250

IT Director

Chief Information
Officer

Project Manager

Director Network
Operations

Mainland China

800 - 1,500

1,500 - 2,800

400 - 650

500 - 700

Hong Kong

950 - 1,750

1,500 - 3,000

580 - 800

550 - 850

Japan

13 - 18

17 - 25

8 - 1412 - 20

Malaysia

300 - 420

300 - 600

108 - 216

240 - 420

Singapore

220 - 350

325 - 525

130 - 220

160 - 250

BUSINESS DEVELOPMENTManager

Senior Manager

Sales Director

Account Manager

Mainland China

455 - 700

500 - 1,250

850 - 2,000

390 - 845

Hong Kong

750 - 1,100

1,000 - 2,000

1,500 - 1,800

620 - 830

Japan

10 - 15

12 - 18

10 - 20

10 - 20

Malaysia

150 - 210

168 - 300

240 - 480

120 - 180

Singapore120 - 220

160 - 270

250 - 480

120 - 210

Presales Consultant

Presales Manager

Technical SalesManagerIndustry Consultant

Mainland China

300 - 900

600 - 1,200

600 - 900

300 - 600

Hong Kong

550 - 900

620 - 900

1,400 - 1,800

N/A

Japan

12 - 18

13 - 18

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

2019 Hays Salary Guide - Asia | 79

INFORMATION TECHNOLOGYTELECOM | DEVELOPMENTBILLING

Development Integration

SupportArchitect

Business

AnalystManager

Japan

7-9

6-8

5-7

8 - 12

8 - 12

8 - 12

Malaysia

90 - 160

95 - 170

70 - 140

120 - 180

100 - 180

130 - 220

Singapore

80 - 130

90 - 140

66 - 130

110 - 17095 - 160

100 - 170

CRM

Development Integration

SupportArchitect

Business

AnalystManager

Japan

7-9

6-8

5-7

8 - 12

8 - 12

8 - 12

Malaysia

90 - 150

90 - 150

60 - 120130 - 220

110 - 180

130 - 220

Singapore85 - 140

95 - 160

70 - 130

120 - 200

100 - 160

120 - 210

SDP

Development Integration

SupportArchitect

Business

AnalystManager

Japan

7-9

6-8

5-7

8 - 12

8 - 12

8 - 12

Malaysia

80 - 150

90 - 150

70 - 120

120 - 220

100 - 160

120 - 210

Singapore

80 - 140

90 - 150

80 - 120

100 - 170

90 - 150

90 - 170OSSDevelopment Integration

SupportArchitect

Business

AnalystManager

Japan

7-9

6-8

5-7

8 - 12

9 - 1310 - 14

Malaysia

80 - 140

80 - 140

60 - 120

120 - 220

100 - 160

120 - 200

Singapore

80 - 140

75 - 130

70 - 130

110 - 180

90 - 150

110 - 190

BSS

Development Integration

SupportArchitect

Business

AnalystManager

Japan

7-9

6-8

5-7

8 - 12

9 - 1310 - 14

Malaysia

80 - 120

80 - 120

60 - 120

120 - 220

100 - 160

120 - 200

Singapore90 - 130

75 - 130

60 - 120

110 - 180

90 - 150

105 - 170

VAS

Development Integration

SupportArchitect

Business

AnalystManager

Japan

7-9

5-7

8 - 12

8 - 12

8 - 12

6-8

Malaysia

80 - 130

70 - 120

70 - 130

120 - 220

80 - 145

100 - 190

Singapore85 - 125

75 - 120

70 - 120

100 - 170

75 - 130

90 - 170

EAI

Development Integration

SupportArchitect

Business

AnalystManager

Japan

7-9

6-8

5-7

8 - 12

8 - 12

8 - 12

Malaysia

80 - 130

80 - 130

60 - 110

120 - 220

90 - 150

120 - 190

Singapore95 - 14085 - 140

72 - 120

120 - 190

110 - 160

110 - 180

NOTES
• Salaries are represented in local currencies

80 | 2019 Hays Salary Guide - Asia

INFORMATION TECHNOLOGYTELECOM | INFRASTRUCTURE
MPLS NETWORKEngineer

Integration

SupportArchitect

PresalesManager

Japan

6-9

6-9

6-8

8 - 1310 - 15

9 - 15

Malaysia

70 - 130

75 - 110

60 - 100

120 - 200

150 - 220

120 - 190

Singapore70 - 120

70 - 100

60 - 100

120 - 200

140 - 210

110 - 180

FIXED & MOBILE NETWORKEngineer

Integration

SupportArchitect

PresalesManager

Japan

6-9

6-9

6-8

8 - 1310 - 15

9 - 15

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

BTS/MICROWAVE

Field Service SeniorEngineerEngineer

Lead

Manager

Japan

5-8

7-9

8 - 10

9 - 15

Malaysia

70 - 90

100 - 130

120 - 170

120 - 190

Singapore

60 - 80

70 - 11078 - 140

110 - 170

VAS NETWORKEngineer

Senior Engineer Manager

Japan

6-9

7 - 10

8 - 12

Malaysia

70 - 120

100 - 130

120 - 160

Singapore

75 - 120

90 - 120

100 - 160

TELECOM | BUSINESSANALYSIS & PROJECT

Business
Project
Transformation Manager

Project/Program
DirectorJapan

8 - 12

8 - 1210 - 15

Malaysia

180 - 300

102 - 216

240 - 360

Singapore

140 - 250

130 - 200

190 - 300

MANAGEMENT ROLES

Service
ManagedChief Solution Director
Delivery Mgr Services Mgr Architect
ServicesJapan

9 - 13

9 - 1312 - 15

12 - 16

Malaysia

120 - 180

180 - 300

240 - 420

330 - 540

Singapore

140 - 250

150 - 250

190 - 310

280 - 420

BUSINESS DEVELOPMENT

SeniorManager

Account
ManagerPresalesConsultant

PresalesManager

Technical
Industry
Sales Manager Consultant

Japan

15 - 20

7 - 12

7 - 13

9 - 148 - 148 - 16

Malaysia

300 - 480

90 - 150

150 - 210

180 - 250

204 - 300

250 - 350

Singapore

160 - 250

140 - 220

140 - 210

160 - 240

160 - 250

300 - 550

NOTES
• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 81

INSURANCEHONG KONGTECHNOLOGICAL ADVANCEMENTS AND
REGULATORY CHANGE ARE THE KEY
FACTORS DRIVING RECRUITMENT IN
HONG KONG’S INSURANCE INDUSTRY
The Hong Kong insurance sector
continued to achieve growth in overall
premiums throughout 2018, and although
year-on-year growth has decreasedslightly since 2017, the positive trend
should continue. In 2019, most employers
will increase their headcount marginallyand will implement new benefit strategies
to attract prospective candidates.
From a distribution perspective, traditionalbancassurance and agency channels
experienced strong progress over the lastyear as a number of insurers and banks
developed long-term partnerships.
However, payment restrictions are likely to
see increases less prominent in 2019. The
industry is seeing an increase in direct
digital distribution with the Hong Kong
Insurance Authority fast tracking approval
for these unconventional methods.

SALARY INFORMATION: INSURANCE

INSURTECH INVESTMENT TO LEAD TOJOB LOSSES IN MANUAL AND
ADMINISTRATIVE AREAS
In 2018, companies invested in insurance
technology in order to enhance
efficiencies, internal processes, and thecollection of data, driving a requirement
for project and process improvement
positions, though the market will remain
candidate short in the year ahead. Anotherresult of companies adopting these
disruptive technologies is that we may see
a loss of jobs within insurance operations
as manual or administrative duties caneasily be replaced, particularly in claims
and policy servicing departments.
We expect a continuous increase in hiring
across compliance, audit and risk asregulatory change will lead insurers toenhance their governance, enterprise risk,internal audit and controls functions. As
such, more opportunities are created forcandidates to fast track their career into
management roles. Due to global
regulations such as IFRS17, opportunities
for overseas candidates in Hong Kong areon the rise as this specialism is extremely
candidate short.

82 | 2019 Hays Salary Guide - Asia

CANDIDATES WITH ACQUISITIONS ANDTECHNOLOGY EXPERIENCE IN SHORT
SUPPLYsee demand for junior sales professionals
from consulting and traditional insurance
firms alike.

In the area of strategy, 2018 saw company
growth through investment in traditionaltransactions such as insurance acquisitions
and bank partnerships, and the coming
year should see this continue, withtechnological advancements and theacquisition of innovative businesses also
becoming increasingly important.
Therefore, we expect this area to remain acandidate-short market.

COMPANIES BUCKING THE STATUS QUOAND TAKING ON MORE MID-CAREERCANDIDATESIn terms of salary levels, we expect slightincrements in 2019, but strongly advise
insurance firms to review their salary
packages for new hires. Firms hiring in atalent-short area will need to becompetitive when offering salaries,
benefits, and career progression.

JAPAN
ROLE AVAILABILITY IN JAPAN’S
INSURANCE INDUSTRY IS EXPECTEDTO CONTINUE ITS UPWARD TRAJECTORY
IN 2019
Over the last year we saw substantial M&A
activity involving insurers at home andabroad, while a number of new players
entered the market looking to hire talented
insurance professionals. We also saw a trend
for non-insurance companies expanding into
the sector, using their existing businesses as
platforms from which to sell new insurance
products. As a result, we expect to see a
steady increase of job openings throughout
the insurance industry in 2019.
JAPAN’S INSURTECH SECTOR GROWTHIS BEHIND ASIAN STANDARDS, BUT
IMPROVING STEADILY
2018 also saw a closer connection between
life insurance, innovation and healthsectors leading to an increase in productranges and add-on options. Insurtech isanother growing sector in Japan, and while
not as prominent as in the rest of Asia, wewill continue to see more customer-centricand customer experience roles come into
the market in 2019.
One constant in Japan’s insurance sector
is the number of consulting firms on thelookout for insurance professionals. This
trend will remain in 2019, and we will also

As a rule, major domestic insurancecompanies hire newly-graduated talent in
the hundreds in April every year, with therecruitment of mid-career professionals
infrequent. However, as business models
take more of a globalised slant, thispractice is gradually changing and therecruitment of mid-career experts is morecommonplace, creating a new market for
mature jobseekers. However, somedomestic companies have yet to establish
clear career paths for these mid-career
employees, and thus face new challenges
when it comes to fair evaluation andcareer path accommodation.
In response to changing societal norms
and candidate expectations, flexitime andwork-from-home schemes are being
widely adopted by insurance companies.
We expect higher demand for in-houseinsurance risk professionals in 2019 as
more digital avenues are implemented,
and the uncertainty that surrounds how
the Financial Services Authority (FSA)
might regulate them. This demand is likely
to extend to consultants in professionalfirms also.

“The number ofconsulting ﬁrms
in Japan looking
to hire insurance
professionals will
increase in 2019.”

INSURANCEA YEAR OF HYPERACTIVITY HASCULMINATED IN A NUMBER OF CHANGESIN MALAYSIA’S INSURANCE SECTOR
2018 was a whirlwind year for Malaysia,
with various mergers and acquisitions,
regulatory change, and the constantstriving for innovation combining to shapethe development of the industry. These
factors are all expected to have significant
impact on the types of roles that will becreated in 2019.
Insurance companies are likely to consider
consolidating further in 2019 to 2020 inorder to achieve a better competitive
advantage and drive the economy in amore transformative way. This, paired withchanges in the political climate, maytranslate to insurers tightening theirbudgets and slowing down recruitment.
DIGITALISATION TO HAVE A GREATERIMPACT IN 2019
Meanwhile, life insurers and generalinsurers alike are in the process ofimproving their sales strategies throughthe development and enhancement of
their digital platforms. Agency andbancassurance are still the main drivers of
new business, with online distribution
channels bringing in less than one per centof new premiums. However, we foresee thegrowing digitalisation trend having asignificant impact in the recruitment ofprofessionals in product development,
distribution and sales training in 2019.

requirements, including IFRS17. This
demand will see professionals withactuarial experience venturing into finance,risk management, product development
and data analytics in 2019.

SINGAPORE
AFTER A WHOLLY POSITIVE YEAR IN
2018, THE COMING 12 MONTHS WILL SEE
GROWTH IN SALES
Following on from a turbulent 2017, 2018presented a much more positive picture
for Singapore’s insurance industry. Life
insurers in particular saw a strong year inpremium growth, although generalinsurers could not report such positivity.
2018 saw most insurers focusing on
driving down costs whilst looking tostrengthen their sales and distributionfunctions. We expect this trend tocontinue into the coming year andanticipate significant competition as
insurers look to grow their sales andagency businesses.
ACTUARIES IN A STONG POSITION TO
RECEIVE IMPRESSIVE SALARIESWe anticipate limited growth in backoffice and support functions but continue
to see healthy demand for experienced
professionals in core functions, including
underwriting and claims. There remains a
shortage of qualitied actuaries in themarket and, as in 2018, talent will be in astrong position to command higher
salaries when switching jobs.

In addition to digitalisation, the insurance
industry is also mirroring the banking
industry in its pursuit of automation. While
this may have a negative impact on
traditional insurance operations, it will
have positive implications for thosespecialising in IT or big data.

As with previous years, ensuring a robust
approach towards audit, risk and compliancewill be a key priority for insurers in
2019. Given the limited number of candidates
in the Singapore market with relevant
domain experience, these candidates should
secure impressive salary uplifts.

REGULATORY LEEWAY GIVES MORE
FREEDOM IN RISK AREAS

TECHNOLOGICALLY ADEPT TALENT TOCAPTURE PROMINENT ROLESBank Negara’s exposure draft on credit risk,
as well as similar changes in theirrequirements, is giving more leeway forfurther development in the risk function. This
will create new opportunities in the longterm, particularly in credit and IT risk.

Technology will continue to play a bigger
role in the insurance industry through 2019,with more insurtech start-ups entering themarket and attempting to disrupt thestatus quo. Concurrently, tech-savvy
candidates with deep insurance industry
exposure will be able to aquire sought-after
jobs in highly-disruptive companies.

There has also been a spike in demand for
actuarial professionals across numerous
functions due to changes in regulatory“The insurance
industry in Malaysia ismirroring the banking
industry in its pursuitof automation.”

Asia drove 76% of global
insurance growth in 2017.

Data source:
Allianz Research published in April 20182019 Hays Salary Guide - Asia | 83

SALARY INFORMATION: INSURANCE

MALAYSIAINSURANCEACTUARIAL

Chief Actuary

Department
Head

Senior Manager Manager

Associate

Hong Kong

1,600 - 2,600

1,200 - 1,800

840 - 1,200

600 - 780

180 - 480

Japan

20 - 30

15 - 25

13 - 20

10 - 18

5-8

Malaysia

420 - 660

180 - 300

180 - 264

84 - 192

60 - 84

Singapore

260 - 440

180 - 340

140 - 180

120 - 150

50 - 90

DISTRIBUTION

Chief Distribution Chief Agency
Officer
Officer

Head of
Bancassurance

Head of
Alternate
Distribution

Head of Sales
Development

Hong Kong

1,500 - 2,500

1,300 - 2,000

1,200 - 2,000

1,100 - 1,700

1,100 - 1,700

Japan

15 - 30

15 - 30

15 - 25

15 - 25

15 - 25

Malaysia

360 - 600

300 - 480

192 - 264

192 - 264

192 - 264

Singapore

270 - 450

270 - 350

200 - 280

220 - 280

220 - 280

AGENCY

Agency Director Senior Manager Manager

Assistant Manager Agency Officer

Hong Kong

840 - 1,400

660 - 950

480 - 660

360 - 480

220 - 360Japan

15 - 20

12 - 18

8 - 12

7 - 10

5-8

Malaysia

120 - 180

156 - 216

60 - 96

39 - 54

33 - 39

Singapore

140 - 190

140 - 180

110 - 140

70 - 100

40 - 60

BANCASSURANCE

Department
Head

Senior Manager Manager

AssistantManager

Bancassurance
OfficerHong Kong

1,200 - 2,000

720 - 1,100

480 - 720

360 - 480

180 - 300

Japan

15 - 20

12 - 15

10 - 126 - 10

5-7

Malaysia

180 - 264

156 - 216

90 - 144

60 - 84

36 - 54

Singapore

250 - 420

160 - 220

120 - 150

80 - 120

40 - 60

ALTERNATE DISTRIBUTION

Channel Director Senior Manager Manager

Assistant Manager

Hong Kong

1,100 - 1,400

750 - 900

540 - 690

400 - 500

Japan

15 - 25

12 - 18

10 - 146 - 10

Malaysia

168 - 240

168 - 150

72 - 10842 - 60

Singapore155 - 250

120 - 150

90 - 120

70 - 80

FINANCE

Chief
Financial
Financial Officer Finance Director Controller

Senior FinanceManager

Finance
ManagerHong Kong

1,800 - 3,000

1,080 - 1,800

1,080 - 1,800

684 - 1,080

540 - 720

Japan

15 - 30

15 - 25

15 - 20

12 - 18

10 - 16

Malaysia

360 - 420

300 - 360

180 - 300

120 - 180

84 - 120

Singapore

240 - 500

190 - 250

145 - 240

140 - 180

100 - 150

NOTES
• Salaries are represented in local currencies

84 | 2019 Hays Salary Guide - Asia

INSURANCE
Chief
Underwriter

Director

Senior Manager Manager

AssistantManagerHong Kong

1,000 - 1,800

900 - 1,200

696 - 840

540 - 720

420 - 540

Japan

18 - 25

15 - 18

10 - 15

8 - 12

6-8

Malaysia

300 - 440

216 - 300

168 - 216

72 - 120

54 - 80

Singapore

300 - 420

250 - 300

150 - 200

100 - 140

70 - 90

UNDERWRITING GENERAL

Chief
Underwriter

Head ofBusiness Line

Senior Manager Manager

AssistantManagerHong Kong

1,000 - 2,000

900 - 1,700

700 - 850

550 - 650

300 - 480

Japan

18 - 25

15 - 18

10 - 15

8 - 12

6-8

Malaysia

250 - 450

240 - 312

144 - 240

96 - 156

72 - 96

Singapore

300 - 420

250 - 300

150 - 200

100 - 140

70 - 90

CLAIMS LIFE

Head of Claims

Senior Manager Manager

AssistantManagerHong Kong

800 - 1,200

650 - 780

504 - 660

360 - 480

UNDERWRITING LIFEJapan

15 - 20

12 - 15

8 - 10

6 - 10

Malaysia

204 - 300

132 - 192

70 - 132

54 - 78

Singapore

200 - 300

130 - 200

125 - 190

60 - 90

CLAIMS GENERAL

Head of Claims

Head ofBusiness Line

Senior Manager Manager

AssistantManagerHong Kong

750 - 1,200

700 - 800

650 - 750

500 - 650

300 - 450Japan

18 - 25

15 - 18

8 - 12

6 - 10

5-8

Malaysia

220 - 320

168 - 220

120 - 180

84 - 120

54 - 84

Singapore

200 - 300

170 - 210

130 - 200

125 - 190

80 - 100

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 85

INSURANCEPROJECTS

Program Head

Senior Project/
Assistant
Program Manager Project Manager Manager

Business
AnalystHong Kong

950 - 2,500

750 - 1,100

540 - 780

360 - 540

240 - 420

Japan

15 - 20

12 - 20

8 - 15

6 - 105 - 10

Malaysia

300 - 420

240 - 300

156 - 240

84 - 156

56 - 132

Singapore250 +180 - 250

140 - 180

90 - 130

60 - 80

STRATEGIC

Chief Strategy
Officer

Director/AVP

Associate
Director/
Senior Manager Manager

AnalystHong Kong

2,500 - 2,800

1,400 - 2,200

900 - 1,400

600 - 850

280 - 540

Japan

15 - 20

12 - 20

8 - 15

6 - 105 - 10

Malaysia

300 - 420

240 - 300

156 - 240

84 - 156

56 - 120

Singapore230 +180 - 230

140 - 180

90 - 130

60 - 80

OPERATIONS

COO

Senior Manager Manager

AssistantManagerHong Kong

1,800 - 2,500

700 - 950

540 - 720

420 - 540

Japan

15 - 30

12 - 18

8 - 12

6 - 10

Malaysia420 +180 - 288

120 - 216

72 - 120

Singapore

200 - 250

140 - 200

90 - 140

70 - 90

PRODUCT MANAGEMENTHead of
Products

Senior ProductDevelopment
Manager

Product
Manager

AssistantManagerHong Kong

1,800 - 2,500

780 - 1,080

500 - 720

330 - 460

Japan

14 - 20

10 - 15

8 - 12

6 - 10

Malaysia

180 - 264

120 - 180

96 - 156

72 - 90

Singapore

170 - 300

120 - 150

100 - 150

70 - 80

COMPLIANCE

Chief
Compliance
OfficerHong Kong

2,200 - 2,600 1,300 - 1,800

Head ofCompliance/ Compliance
AVP
Director

SeniorManagerManager

AssistantManager

960 - 1,300

720 - 960

540 - 720

480 - 540

AUDIT

Head ofChief Auditor Audit/AVP

Audit
Director

Senior Audit
Manager

Audit
Manager

Assistant
Audit
ManagerHong Kong

2,200 - 2,600 1,300 - 1,800

1,100 - 1,600

720 - 960

540 - 780

480 - 540

RISK

Chief Risk
Officer

Senior Risk
Risk Director Manager

Assistant
Risk Manager Risk Manager

Hong Kong

2,200 - 2,600 1,300 - 1,800

960 - 1,400

540 - 720

NOTES
• Salaries are represented in local currencies

86 | 2019 Hays Salary Guide - Asia

Head of Risk

720 - 900

456 - 540LEGALTHE 2019 FORECAST FOR MAINLANDCHINA IS HEALTHY ACROSS BOTH
PRIVATE PRACTICE AND CORPORATELEGAL DEPARTMENTS
In the private practice sector, competition
for candidates amongst international anddomestic law firms is escalating, with thelatter looking to develop their capabilities
by becoming increasingly involved ininternational projects and offering highly
competitive compensation packages tosecure top legal talent.
Conversely, MNCs are predicting slower
business growth. However, due to thecontinuous change and increasing
complexity of Chinese corporations,candidate demand remains high as thenecessity to manage risk, regulatory andother business legislations endures.
GLOBAL EXPANSION TO REQUIREUPPER-LEVEL RECRUITMENT
As they develop and expand their global
footprint, the bulk of legal hiring for
Chinese corporations will predominantly
consist of mid to senior-level legal experts,
driven by the need to assist corporationsin the building up of their international
legal teams’ capabilities.
Additionally, following the introduction of
the Cybersecurity Law and theamendments to the Anti-Unfair
Competition Law in 2017 and 2018
respectively, there will be another peak inthe demand for IP, general commercial andcompliance lawyers in Mainland China overthe coming year. Another area seeing
heightened demand is e-commerce lawyers
due to the rapid rise and evolution oftechnological companies in Mainland China.
TOP LEGAL TALENT WILL RECEIVE
NUMEROUS COMPETETIVE OFFERS IN
2019
In terms of compensation and salary,
private practice companies are set toincrease their levels in 2019, particularly
amongst successful firms anxious to resist
an exodus of exceptional talent tocompetitors or in-house corporate roles.
The demand for top legal talent, especiallyat mid-level, will be extremely competitive
over the year ahead. Legal candidates arelikely to receive multiple offers wheresalary and benefits will bear considerable
influence on their decision-making process,though final decisions will often be basedon industry type and company cultureWith these candidates in such demand,2018 saw an increase in the number ofcounteroffers made by firms, a practice thatis set to not only continue, but become anindustry standard in the year ahead.

HONG KONG
UNSURE MARKET PROJECTIONS MEANSHIRING WILL COME PREDOMINANTLYFROM LARGER CORPORATIONS
Recruitment predictions for Hong Kong’s
legal industry in 2019 are relatively stable,
following on from a strong performancein 2018.
With market conditions unstable, this year
we expect the bulk of legal hiring to comefrom large corporate organisations andmajor financial institutions. In terms of
new industries, fintech is an area worth
monitoring as the ever-changing
regulatory landscapes will make for an
animated legal recruitment market.
THE GOLDEN ERA OF DISPUTE
As has consistently been the case,corporate M&A lawyers were the most in
demand throughout 2018, a state that is
unlikely to change over the coming year.
Fintech and TMT lawyers — especiallythose with privacy or payments
experience — will also be highly sought
after, and in the realm of private practice,there is an indication that we are entering
the golden era of dispute as we face theuncertain and challenging global
conditions of the coming year.
SALARIES CONTINUE TO ROCKET AS
TALENT SHORTAGES PERSIST
Competition for candidates in the key
areas is likely to be fiercer than ever in
2019, especially for those with bothregional and local experience, have
between four and ten years Post-QualifiedExperience (PQE) and are tri-lingual in
English, Cantonese and Mandarin.
Due to the difficulty inherent in finding
exemplary talent, salaries on the whole
have increased as companies offer
financial incentives in order to protect

against talent migrating to a directcompetitor or similarly-natured businesses.

JAPAN
HIRING ACTIVITY IN COMPLIANCE WILLCONTINUE TO INCREASE IN 2019
Legal and compliance recruiting boomed
through 2018, a situation that is expected
to continue into the coming year andbeyond as laws on data privacy andcompliance in both Japan and further
afield are tightened.
Private practice recruitment has dropped
somewhat in recent years, especially atforeign firms; however, 2019 is likely to see
a number of Japanese international law
firms look to expand on their success and,concurrently, headcounts.
HIRING FLEXIBILITY TO INCREASE AS
GENERAL DATA PROTECTIONREGULATION (GDPR) IS IMPLEMENTED
With enforcement of GDPR coming into
practice in 2018 there has been a trend forcompanies rushing to fill positions inrelated fields, increasing the demand forcandidates knowledgeable in the area. This
expansion of compliance and data privacy
teams is expected to intensify in 2019.
Thanks to a combination of an increase inavailable positions and the ongoing demand
for suitable candidates, we expect to see
more flexibility in hiring from 2019 compared
to previous years in both headcountnumbers and candidate requirements.

“The rapid riseand evolutionof technologicalcompanies in Mainland
China is creating
huge demand for
e-commerce lawyers.”

2019 Hays Salary Guide - Asia | 87

SALARY INFORMATION: LEGAL

MAINLAND CHINALEGALMALAYSIA
MALAYSIA’S LEGAL SECTOR IS LOOKINGTOWARDS HEALTHY GROWTH IN THE
COMMERCIAL SECTOR
Malaysia’s legal sector in 2018 bore
witness to a number of dramatic changes,
a situation that promises healthy
developments for 2019. Looking to deter
the near-inevitable move in-house at thethird or fourth year PQE level — a time atwhich companies in both the commercial
and financial sectors find it it difficult tomatch the disparity of high salary and low
professional qualification experience — theprivate practice sector continues to set an
above-market salary range for first year
legal associates, with handsome yearly
increments and performance bonuses.
INCURSION OF CHINESE CONSTRUCTIONDRIVING COMMERCIAL HIRESIn the commercial sector, more andmore Chinese construction companies are
hiring legal personnel as they increase
their presence in the Malaysianconstruction landscape.
Within the finance sector, the Central Bank
has implemented strict governanceguidelines resulting in the separation of
the insurance industry distinctly into
general and life insurance. This trend has
consequentially been reflected in themarket with insurance companies hiring agreater number of company secretaries
than previously. This is likely to continue todo so over the coming years.
COMPANIES LACK HESITANCY IN
OFFERING SUPERLATIVE CANDIDATESCOMPETITIVE COMPENSATION
No matter the level of candidate required,companies in both sectors are proving
extremely competitive in their attempts to
attract the top talent. Although salarylevels often vary from company tocompany, once the perfect candidate is
identified, organisations show little
reluctance in compensating them.

SALARY INFORMATION: LEGALWith the formation of a new government
in 2018, swingeing changes were enacted,
not just at a regulatory level, but also withcritical personnel reorganisation inpositions at both the Attorney-General’sChambers and within the Central Bank. As

88 | 2019 Hays Salary Guide - Asia

a result, the Malaysian legal landscape istaking a dramatic turn.

more graduates eschewing practice in law
firms and instead choosing to headdirectly in-house as junior lawyers.

SINGAPORE
CAUTION AND STABILITY LIKELY TO
TYPIFY SINGAPORE’S LEGAL SECTOR IN
2019
Legal recruitment in Singapore is expected
to stabilise in 2019, with significant salarychanges unlikely in most areas.
Whilst most international law firms are
cautious in their hiring of associates andsenior associates, some have identified
areas such as M&A and international
arbitration as their hiring targets for 2019.
CANDIDATES MOVING AWAY FROMPRIVATE PRACTICE SOONER RATHER
THAN LATER“From 2023,
law graduates in
Singapore will be
required to complete
one year of practicetraining if they wish
to become a lawyer.”

In a deviation from historical norms,
candidates are showing a keen interest in
moving in-house at just one or two years
PQE as opposed to the five years aspreviously been the standard. Companies
are also more open to taking juniorcandidates straight from private practice.
IN-HOUSE CANDIDATES INCREASINGLYREQUIRE NICHE SKILLS OVER GENERALKNOWLEDGE
Comparable to 2018, we continue to see
demand for candidates skilled in Mandarin
and Bahasa Melayu, given that mostregional in-house positions based in
Singapore cover Southeast Asia andGreater China. Additionally, demand forlawyers in specialist areas such as
construction, intellectual property, andbanking and finance remains high,especially with in-house lawyers beginningto specialise internally within their teams.
Lawyers who move in-house are expected
to be more than a ‘generalist’, andtypically bring with them knowledge of aniche area in which they hold expertise.
From 2023, law graduates wanting tobecome practising lawyers will be required
to complete one year of practice training
with a firm following their passing of theSingapore Bar examinations, up from thecurrent six months. The second part of theexam will also be more stringent, and withthese factors combined there is alikelihood that in the future, we will see

Japan led M&A activity
across Asia in 2018 which
was their strongest year innearly four decades.

Source: law.com

LEGALPRIVATE PRACTICE

Paralegal

Newly qualified 1 year PQE

2 years PQE

3 years PQE

Mainland China (International Firm)

180 - 360

480 - 1000

560 - 1,040

620 - 1,230

750 - 1,300

Mainland China (PRC Firm)

120 - 240

200 - 350

200 - 400

250 - 500

300 - 550

Hong Kong (International Firm)

240 - 840

980 - 1,092

1,050 - 1,190

1,162 - 1,302

1,232 - 1,372

Hong Kong (NY/US Firm)

240 - 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 - 81Singapore48 - 60

60 - 72

78 - 90

84 - 102

96 - 120

4 years PQE

5 years PQE

6 years PQE

7 years PQE

8 years PQE

Mainland China (International Firm)

800 - 1,410

900 - 1,530

1,000 - 1,620

1,100 - 1,710

1,200 - 1,840

Mainland China (PRC Firm)

350 - 600

450 - 700

500 - 750

600 - 800

650 - 900

Hong Kong (International Firm)

1,260 - 1,540

1,344 - 1,680

1,512 - 1,820

1,610 - 1,890

1,750 - 2,170

Hong Kong (NY/US Firm)

2,903 +

3,138 +

3,372 +

3,560 +

3,842 +

Japan

8 - 1510 - 18

10 - 20

10 - 2212 - 25

Malaysia

66 - 84

70 - 96

75 - 108

80 - 114

90 - 114

Singapore108 - 130

108 - 132

120 - 144

132 - 156

170 +Salaried
Partner(Junior)Salaried
Partner(Senior)

Professional
SupportLawyerMainland China (International Firm)

1,860 +

3,100 +

600 - 980

Mainland China (PRC Firm)

1,500 +

2,500 +

600 - 800

Hong Kong (International Firm)

2,500 +

3,000 +

950 - 1,500

Hong Kong (NY/US Firm)

4,000 +

5,000 +

950 - 1,500

Japan

16 +

20 +

11 +

Malaysia

120 - 180

240 +

144 - 180

Singapore180 - 250

300 +

75 - 96

Paralegal

JuniorLegal Counsel Legal Counsel Legal Counsel Senior Counsel General(0-3 PQE)(4-6 PQE)(7-10+ PQE) (10+ PQE)
CounselCOMMERCIAL IN-HOUSE
Mainland China

120 - 200

200 - 360

350 - 700

600 - 1,200

750-1,500

Hong Kong

180 - 840

500 - 1,120

750 - 1,650

1,150 - 1950

1,500 – 2,400 1,800 - 3,000

Japan

4-6

5-8

8 - 1510 - 18

14 - 20

17 +Malaysia

48 - 60

38 - 60

54 - 96108 - 132

120 - 360

300 - 540

Singapore

52 - 65

52 - 91

104 - 130

130 - 156

156 - 250

350 - 500

FINANCIAL SERVICES IN-HOUSE

Paralegal

JuniorLegal Counsel Legal Counsel Legal Counsel Senior Counsel General(0-3 PQE)(4-6 PQE)(7-10+ PQE) (10+ PQE)
CounselMainland China

150 - 250

220 - 600

500 - 860

800 - 1,300

Hong Kong

375 - 900

750 - 1,395

1,100 - 1,950

1,500 - 2,400 1,850 - 2,700 2,550 - 4,000

Japan

4-8

6 - 14

9 - 1815 - 20

15 - 32

22 - 40

Malaysia

30 - 54

42 - 72

54 - 96

90 - 180

180 - 300

660 +Singapore

52 - 65

52 - 91

104 - 130

150 - 200

300 - 450

500 +

NOTES
• Salaries are represented in local currencies• Private Practice Associate salaries stated are generally
representative of the total package value

1,200 - 4,000

1,000 - 2,000 1,500 - 3,000• Typical beneﬁts on top of in-house salaries and salaries
for paralegals in private practice include performancebased bonuses and overtime allowances

2019 Hays Salary Guide - Asia | 89

LIFE SCIENCES

MAINLAND CHINA
MAINLAND CHINA’S AGEING
POPULATION SEES THE LIFE SCIENCES
INDUSTRY RIPE WITH INVESTMENTOPPORTUNITIESFollowing the biotech boom, the life
sciences industry in Mainland China has
intensified, resulting in a heightened
demand for scientists and entrepreneuriallyinclined individuals in a number of areas.
With continued governmental support
encouraging life science innovation, biotech
has become a focal point in government’s
latest Five-Year Plan.

SALARY INFORMATION: LIFE SCIENCESONCOLOGY AND CHRONIC DISEASESATTRACTIVE AS INVESTMENTPORTFOLIO SOURCES
With the opportunities afforded by Mainland
China’s unmet medical needs and ageing
population, Chinese investors looking todiversify their portfolios away from property
and manufacturing have been encouragedby the potential for growth inherent in thelife sciences industry, and the areas of
oncology and chronic diseases have proved
particularly attractive. The majority ofinvestment is going towards the financing ofinnovative biotechs leading to a hiring frenzyin the industry, thereby positively impacting
candidate salary packages.
HIRING IN CRO TO RISE IN 2019
The contract research organisation (CRO)sector in Mainland China will continue togrow rapidly over the next five years
driven by pharmaceutical companies’
enhanced spending on R&D and morecomprehensive service platforms that
integrate the discovery and developmentof small-molecule chemical drugs.
Meanwhile, domestic pharmaceuticalcompanies have also begun placing great
importance in standardised operation
procedures. As such, hundreds of CRO
companies are set for expansion in the
coming year, leading to sizable
opportunities for talent in this field.

HONG KONG
HONG KONG’S STATUS AS MNCS’ ACCESSPOINT TO THE APAC REGION AND
GOVERNMENTAL INVESTMENT IS SEEING
MODERATE TO HIGH SALARY GROWTHFOR CANDIDATES

90 | 2019 Hays Salary Guide - Asia

Hong Kong continues to see strong
requirement for healthcare professionals in
the pharmaceutical, medical devices andbiotechnology sectors.
Demand for medical affairs professionals in
the pharmaceutical sector will remain high,driving above average wage growth within
a limited talent pool. By contrast, necessity
for other technical and clinical researchprofessionals has declined and we expect
moderate salary growth for mid-levelcandidates. However, mid to senior-levelhires with strong local healthcare networks
and successful career track records can
expect to command higher salaries.
With several government-funded projects
underway, Hong Kong’s biotechnology
sector is growing exponentially,
intensifying the demand for R&D scientists.
Salary levels are expected to remain highfor candidates with PhD qualifications andspecialised research experience.
CANDIDATES WITH REGIONAL
EXPERIENCE IN DEMAND FROM SMESAs Hong Kong provides an ideal vantage
point from which global healthcare
providers can access other markets within
the APAC region there will be increased
demand for candidates with regional
experience. In particular, healthcare SMEs
are seeking out candidates to pioneer
business development strategies or manage
distributor relationships in the APAC region.
Consequently, salaries for skilled talent in
the field are expected to grow. Furthermore,
the consumer healthcare and medical
device sectors will see salaries for sales andmarketing professionals increase as theirmarkets swell.

JAPAN
DESPITE THE RECENT SURGE IN STARTUPS, ESTABLISHED COMPANIES RETAIN
THEIR HIRING POWERS AS JAPAN’S
AGEING SOCIETY DRIVES UPHEALTHCARE COSTS
Facing a rapidly ageing society, Japan’slife sciences industry is adjusting to theconsequences of a growing andincreasingly costly healthcare sector.
Long established companies aremaintaining their superiority overflourishing start-ups and biotech

companies by creating partnerships with
university hospitals and laboratories for
drug development. In addition, medical
device companies are investing heavily in
cardiology neurology and diagnostics,
with IVD in particular.
SUPERLATIVE BILINGUAL CANDIDATESATTRACTING HIGHER SALARIESThe majority of pharmaceutical and medical
device companies in Japan are facing
critical hiring needs across all divisions, withupward pressure placed on salaries for top
bilingual talents in this attractive yetcompetitive market. However, proving thecost effectiveness of their business models
remains with challenge.
Consequently, pharmaceutical companies
are prioritising key headcounts such as
clinical project managers to lead trials inareas with strong potential for growth,
especially in oncology, immuno-oncology
and the treatment for rare diseases. Other
positions such as regulatory affairs andquality assurance remain in high demand.
MEDICAL DEVICE SECTOR AND PHARMACOMPANIES TO SEE FURTHER GROWTH
AND MORE RECRUITMENT
Salary increases remain modest withincommercial functions, though mostcompanies will continue to hire
experienced product managers whilestrengthening their business intelligence,“Long establishedcompanies aremaintaining superiority
over ﬂourishing startups and biotech
companies by creating
partnerships with
university hospitals andlaboratories for drug
development in Japan.”LIFE SCIENCES
strategic planning and commercial
excellence teams. Moreover,pharmaceutical companies will increasingly
rely on CSOs to hire MRs, while medical
device companies will be looking toaugment their sales teams in 2019.
Medical divisions of pharmaceuticalcompanies will continue to enjoy
substantial growth, with multiple hires inmedical affairs, medical science liaisons andevidence generation based on real world
evidence (RWE). Salaries being offered are
predominantly on the rise, especially for
PhD holders and medical doctors.

MALAYSIASTRONG DEMAND IN THE OVER-THECOUNTER (OTC) SECTOR IS BEING
ENCOURAGED BY DEVELOPMENTS IN
NICHE THERAPY
We have witnessed a dramatic
undertaking of M&A activity amongst
clinical research and pharmaceuticalcompanies. For consumer health and OTC
products, the business remains sustainable
and there is a continuous demand fortalent. As a result, fresh graduates enjoy
high basic salaries above the market ratein this field. To cope with the demand,companies are making a concerted effort
to stay competitive in retaining theirvaluable employees as well as attracting
prospective candidates.
CANDIDATES RECRUITED BY GLOBAL
GENERIC FIRMS HOLD POWER IN
SALARY NEGOTIATIONS
Global generic drug companies havedeveloped rapidly in niche therapy areas
such as oncology and vaccination. For asociety as health and price conscious as
Malaysia, affordable treatment is essential,
prompting the need to improve
efficiencies and cost effectiveness. Talent

with experience in this area hold leverageduring salary negotiations.

impressively, with regional centres forinternational companies expanding.
Companies are focused on growing
automation and IT support for their
existing diagnostic services to provide
holistic services to hospitals and research
centres. Being a nascent area, talent is in
short supply and companies strive to becompetitive in their job offers.

Technical and commercial roles for other
niche therapy areas including medical
affairs, regulatory affairs, productmanagement and product specialists arehighly sought after in 2019. In this talentshort market companies are compelled tooffer premium salaries to both active andpassive candidates.

SINGAPORE CONTINUES TO BE THE KEY
LOCATION FOR GLOBALMANUFACTURING HUBSSINGAPORE

Singapore remains the leading location forworld-class manufacturing plants in which
many new inventions are developed, andcompanies are focused on having thelatest technologies in their plants as well
as attracting the best talent. Industry
leaders continue to maintain their global
manufacturing hubs in Singapore for awide range of products including APIs
and biologics.

THANKS TO GOVERNMENTAL SUPPORT,PHARMACEUTICAL START-UPS ARE
SEEING IMPRESSIVE GROWTH
On the commercial front, pharmaceuticalsales representatives continue to be indemand as both pharmaceutical MNCs
and start-ups vie to attract the best sales
talent to represent their portfolios in thiscompetitive landscape.
For prominent pharmaceutical companies,
the threat from patent cliffs will continue
to be a primary concern in 2019, while forsmaller pharma companies anddistributors the increase in the popularityof orphan drugs opens up a number ofbusiness opportunities. We expect to see
more hiring activity from these companies
in the coming year.
BIOTECH CANDIDATES IN DEMAND,
WHILE DIAGNOSTICS COMPANIES FOCUS
ON AUTOMATION
Biotechnology is also on the rise, andthanks to strong governmental support
local biotech start-ups flourished in 2018.
With more than 79 home-grown biotech
firms, talent in the clinical and commercial
fields will be in demand in the coming
year as their research findings begin tobear commercial fruits.

“We have witnessed adramatic undertaking
of M&A activity
amongst clinicalresearch andpharmaceuticalcompanies in Malaysia.”

The in-vitro diagnostics sector is growing

Shaping theworkforce ofthe future

Engaging with
consumers andimproving thepatient
experience

Creating a
positive margin
in an uncertain
and changing
healtheconomyTop challenges
facing health care stakeholders

Strategicallymoving fromvolume tovalue

Responding tohealth policy
and complex
regulations

Investing in
exponential
technologies toreduce costs,
increase
access andimprove care

Source: 2018 Global health care outlook | The evolution of smart health care, Deloitte

2019 Hays Salary Guide - Asia | 91

SALARY INFORMATION: LIFE SCIENCES

Key issues in global health care

LIFE SCIENCES
COMMERCIALCountry
Manager

Sales Director

Medical Rep

Account
Manager

Area SalesManager

Mainland China

2,000 - 4,000

900 - 1,500

100 - 300

300 - 500

350 - 600

Hong Kong

1,300 - 2,500

900 - 1,200

180 - 325

350 - 480

480 - 715

Japan

18 - 30

12 - 18

5 - 11

6 - 1210 - 15

Malaysia

400 - 600

250 - 350

40 - 60

80 - 120

90 - 140

Singapore

250 - 350

180 - 250

40 - 75

60 - 85

80 - 120

Regional
Sales Manager

Product
ManagerMarketing
Associate

MarketingManagerMarketingDirector

Mainland China

500 - 800

350 - 550

150 - 300

600 - 800

900 - 1,700

Hong Kong

530 - 850

450 - 850

195 - 360

585 - 975

900 - 1,300

Japan

12 - 18

7 - 12

5-7

10 - 14

14 - 20

Malaysia

150 - 180

80 - 130

45 - 60

150 - 200

250 - 350

Singapore120 - 160

80 - 140

40 - 60

120 - 160

180 - 240

Business
Development
ManagerBusiness
Development
Director

PR/Corp Comm

Mainland China

500 - 800

900 - 1,800

300 - 600

Hong Kong

520 - 850

900 - 1,300

325 - 600

Japan

10 - 1412 - 18

8 - 15

Malaysia

100 - 150

200 - 300

100 - 200

Singapore90 - 140

180 - 250

70 - 150

SFE Specialist

MedicalInformation

MSL(Commercial)

Mainland China

150 - 220

150 - 350

200 - 500

200 - 400

Hong Kong

240 - 390

156 - 360

325 - 585

350 - 600

Japan

8 - 12

5 - 12

7 - 12

6 - 9

Malaysia

50 - 80

N/A

80 - 120

80 - 120

Singapore70 - 100

90 - 200

70 - 100

70 - 120

NOTES• Salaries are represented in local currencies• Salaries do not include bonuses

92 | 2019 Hays Salary Guide - Asia

ClinicalSpecialist

LIFE SCIENCESTECHNICALGood Clinical
Practice
ManagerGood
Manufacturing
Practice Mgr

Good Laboratory
Practice
Manager

Quality Control
Manager

PharmacovigilanceManager

Mainland China

350 - 450

350 - 450

300 - 400

200 - 500

300 - 500

Hong Kong

455 - 650

455 - 650

455 - 650

390 - 650

455 - 715

Japan

10 - 16

10 - 1210 - 1210 - 1210 - 18

Malaysia

N/A

N/A

N/A

100 - 220

100 - 220

Singapore

125 - 160

80 - 115

65 - 95

80 - 120

80 - 120

Medical Affairs
Officer

Medical Affairs
Manager

Medical Affairs
Director

Drug Safety
ManagerDrug Safety
Senior Specialist

Mainland China

260 - 400

450 - 700

850 - 1,300

350 - 450

150 - 250

Hong Kong

325 - 455

620 - 880

910 - 1,500

455 - 715

195 - 416

Japan

8 - 1412 - 25

15 - 35

10 - 15

8 - 11

Malaysia

N/A

120-180

210 - 290

N/A

N/A

Singapore

N/A

140-180250-300

120-15070-100Regulatory
Affairs Staff

Regulatory
Affairs
Manager

Regulatory
Affairs
Director

Scientiﬁc
Affairs
Manager

ClinicalResearch
Associate

Mainland China

140 - 280

300 - 600

800 - 1,300

N/A

100 - 200

Hong Kong

195 - 390

416 - 750

880 - 1,200

520 - 720

286 - 416

Japan

5-9

8 - 1416 - 2210 - 14

4-6

Malaysia

60 - 100

100 - 200

200 - 300

75 - 120

42 - 60

Singapore

60 - 90

80 - 140

150 - 240

75 - 120

50 - 70

Senior ClinicalResearch
Associate

ClinicalResearch
Manager

Project
Manager

Study
Monitor

ClinicalResearch
Director

Mainland China

200 - 350

350 - 600

350 - 600

250 - 400

700 - 1,200

Hong Kong

455 - 620

585 - 845

585 - 900

240 - 416

910 - 1,300

Japan

6-9

12 - 16

12 - 20

6-8

14 - 25

Malaysia

60 - 90

84 - 11084 - 110

N/A

350 - 500

Singapore70 - 110

90 - 160

90 - 160

50 - 70

150 - 200

Data
Management
Specialist

Data
ManagerSAS
Programmer

BioStatistic
Manager

Scientist

Mainland China

100 - 200

200 - 500

100 - 400

400 - 600

200 - 300

Hong Kong

N/A

N/A

N/A

N/A

260 - 494

Japan

6 - 10

10 - 126 - 10

7 - 12

6-8

Malaysia

N/A

N/A

N/A

N/A

48 - 60

Singapore

60 - 70

70 - 90

60 - 90

120 - 150

50 - 80

NOTES• Salaries are represented in local currencies• Salaries do not include bonuses

2019 Hays Salary Guide - Asia | 93

LIFE SCIENCESTECHNICAL

SeniorScientist

Principal
Investigator

Research &Development
Director

PhysicianMedical Writer

Mainland China

350 - 500

600 - 1,300

850 - 3,000

400- 700

150 - 350

Hong Kong

455 - 550

600- 1,300

850 - 3,000

N/A

325 - 650

Japan

8 - 1012 - 1718 - 30

13 - 25

6 - 12

Malaysia

60 - 90

N/A

198 +

N/A

N/A

Singapore

80 - 90

90 - 120

120 - 150

150 - 250

70 - 90

Application
Specialist

Technical
SupportSpecialist

MSL(Scientiﬁc)

HEOR/
Market Access
Staff

HEOR/
Market Access
Manager

Mainland China

100 - 200

100 - 300

150 - 350

250 - 400

400 - 700

Hong Kong

325 - 550

180 - 336

325 - 585

325 - 520

520 - 845

Japan

4-9

4-8

9 - 155-8

8 - 14

Malaysia

40 - 70

48 - 80

80 - 150

72 - 96

120 - 200

Singapore

39 - 78

52 - 85

75 - 180

130 - 230

230 - 300

HEOR/
Market AccessDirector

CMC
Specialist

Lab Director

Lab Manager

Lab Staff

Mainland China

800 - 1,200

100 - 200

500 - 800

300 - 450

100 - 300

Hong Kong

910 - 1,300

N/A

540 - 840

360 - 600

180 - 336

Japan

14 - 25

8 - 1212 - 16

8 - 13

4-7

Malaysia

200 +

N/A

102 - 145

78 - 10225 - 48

Singapore250 +180 - 250

104 - 156

65 - 105

39 - 65

Biology
Scientist

Medicinal
ChemistDMPK/Translational
Pharmacology
Services Scientist Scientist

Mainland China

200 - 400

100 - 300

200 - 400

200 - 400

Hong Kong

300 - 550

360 - 600

N/A

N/A

Japan

4-8

4-8

7 - 12

7 - 12

Malaysia

60 - 120

62 - 120

N/A

N/A

Singapore

65 - 15670 - 180

N/A

65 - 156

NOTES• Salaries are represented in local currencies• Salaries do not include bonuses

94 | 2019 Hays Salary Guide - Asia

MANUFACTURING & OPERATIONSCONCERNS OVER TIGHTENED MONETARYPOLICIES AND IMPENDING TRADE WARSTO BE OFFSET BY GROWTH IN A NUMBER
OF PROMINENT AREAS
In 2018 the economic media was primarily
occupied by reports related to the trade
war between Mainland China and the USA.
However, while we did witness someadjustments in the manufacturing sector,
we believe that most changes haveresulted from Mainland China’s own
initiatives to enhance its labour-intensive
manufacturing capacity and further
tighten monetary policy. As predicted in
the 2018 Asia Salary Guide, the active subindustries of electrical vehicle,
semiconductor, smart manufacturing andmedical devices have grown steadily andwill continue to do so.
In the consumer sector, several prominent
M&A deals have sparked activity as MNC
giants diversify their portfolios to offset
the risk posed by the fast-changing
consumer market. Meanwhile, theirdomestic competitors are also proving
aggressive in attracting talent and we
expect this intense competition tocontinue in 2019.
The areas of product development andquality are still in appreciable demand,and candidates in these functions could
conservatively expect to see 20 to 30 per
cent salary increases by taking roles at adifferent company. In the meantime, wehave seen a significant increase in usageof more natural ingredients, creating a
sizeable demand for B2B sales talent thatcan promote these products to food
manufacturing and food service channels.
SEMICONDUCTORS AND ELECTRIC
VEHICLES ARE DRIVING
MANUFACTURING
The development of semiconductors
remains the number one consideration
within the electronics segment and has
progressed from new factories to R&D
functions, especially for chips used in
artificial intelligence (AI) application. A
number of start-up companies establishedwith funding from major tech giants in
Mainland China are aggressively pursuing
top talent, and candidates in the chip
design area will find that the job market isquite open, perhaps receiving salary
increment offers in excess of 50 per cent.
For companies looking to recruit in theenduringly candidate-short market ofexperienced design engineers, werecommend that they review and adjust
their compensation and benefits for talent
in this area, make quick decisions on hiringand have their own internal development
plans for future talent pipelines.
The automotive industry is still one of thefastest growing in Mainland China, despite
the slowdown of new vehicle sales in bothtraditional and electric vehicles (EVs). In
spite of this downturn, there can be no
doubt that manufacturers still believe thatthe future lies in EV, with all major original
equipment manufacturers (OEMs)announcing their product roadmap forelectrical lines.
Most tier-one and tier-two suppliers have
set up dedicated product development
teams to keep up with the trend, meaningthat all manufacturers have a pressing needfor R&D talent, and as enticements forcompanies to setup their R&D functions in
Mainland China, some provinces have gone
as far as offering government subsidies tosupport such moves. Sales candidates withsuccessful records working with major EV
manufacturers are coveted by allcompanies, and salary increments may
comfortably reach, and even surpass, 30
per cent, which is quite some way above
most other functions in the auto industries.
MNC EXPANSION AND GOVERNMENTENVIRONMENTAL CHECKS GIVE
CANDIDATES NEGOTIATION POWER
2018 was a relatively uneventful year forthe chemical and materials industry, andwhile most MNCs enjoyed moderate
success in the area, their local competitors
were hindered by strict environmental
inspections. With some MNCs looking to
expand by undertaking aggressive M&A
tactics project managers, process
improvement and quality professionals are
all sought after. In other areas, companies
from a variety of industries are on thelookout for environment, health and safety(EHS) candidates from the chemical sector
that can assist them in passing government
environmental inspections. As a result, EHS
has become a trending function, and willcontinue to be so through 2019.

Overall, we expect 2019 to be aninteresting year. A number of prominent
specialisms will continue their momentum
leading companies to persist in theiraggressive hiring strategies, however othersectors are likely to face less positive
adjustments. Candidates in trending
markets will find that they have strong
bargaining power when it comes to salary
package negotiations, although those
operating elsewhere may need tomoderate their expectations.

JAPAN
JAPAN’S MANUFACTURING AND
OPERATIONS SECTOR IS BOOMING, AND
ONLY A CANDIDATE SHORTAGE CANHOLD IT BACKWith continued demand coming from bothoverseas and domestic markets, 2018 wasa year of substantial growth for almost all
Japanese manufacturing sectors,
particularly in the semiconductor,
automotive, aerospace and vessel
manufacturing areas. With yet morecompanies increasing capital investment inrecent years, we foresee heathy businessprojections for 2019.
Key to this has been the national
government support of both local
governments and private enterprises to takeadvantage of national strategic special
zones — such as R&D in the Greater Osaka
area, and automatic automobile R&D in
Aichi Prefecture — as well as thederegulation of a number of industries
across Japan to boost both innovation andfuture demands. Due to its prevailing
success the policy will be reinforced in 2019.
Employee attitudes towards work-lifebalance saw a decisive shift in 2018. Thischange in the workplace perspective,
further reflected by an alteration in wider
societal norms, has transformed how
mobile candidates are likely to act when it
comes to relocation, with an increasing
number of candidates taking their familywith them if moving is required for a role.

2019 Hays Salary Guide - Asia | 95

SALARY INFORMATION: MANUFACTURING & OPERATIONSMAINLAND CHINA

MANUFACTURING & OPERATIONSIN A CANDIDATE-SHORT MARKET,FLEXIBILITY IN CANDIDATEREQUIREMENT IS ESSENTAILOPERATIONS INDUSTRY IS LOOKINGFORWARD TO ANOTHER YEAR OF
ADVANCEMENTS

Despite the palpable positivity in theindustry, the potential for maximum future
economic growth is being stymied byconcerns surrounding future humanresource demands related to population
decline, an ageing society and restrictive
immigration policies. In order to counter
this, political entities and private
corporations have been pursuing a numberof strategies that they hope will create
more flexibility including the creation of adraft plan that will relax work-permission
visa policies, as well as attracting moreskilled candidates from overseas byoffering unconventional salary packages
outside of their current HR practices.

The industry is poised for further growthin 2019, part in thanks to the expansion
and set up of a great number of plants
over the previous 12 months. Ultimately,
this will create further job opportunities
for both domestic and international
candidates in Malaysia, where technicaland leadership skillsets will be thepredominant requirements for hiring
companies.

Another noticeable change is in the waythat a significant number of global
companies are looking to rejuvenate theirorganisation by actively hiring young
candidates. However, due to theaforementioned human resource demands
there is a distinct gap between the type ofcandidates required and those who areavailable in the market. Just a small
number of organisations have adopted
rational hiring practices, taking skilled
candidates regardless of age andJapanese-language skills.

SALARY INFORMATION: MANUFACTURING & OPERATIONSA YEAR OF NEW ACTIVITYHIGHLIGHTING OLD CHALLENGES
In the year ahead there will be great focus
on the G20 Osaka summit in June, the riseof the consumption tax rates in October
and the acceleration of infrastructure andthe associated demands of the 2020
Tokyo Olympics. As such, there is muchdemand placed on the manufacturing &operations sectors, leading to further
recruitment challenges, and companies
may have to temper candidate
requirements — such as accepting maturetalent or candidates from overseas — orraise salary ranges to better attract themost highly-coveted individuals.

MALAYSIAWITH THE KEY AREA OFSEMICONDUCTORS SET TO GROW AND
THE EXPANSION OF PLANTS,
MALAYSIA’S MANUFACTURING &96 | 2019 Hays Salary Guide - Asia

CANDIDATES IN KEY AREAS CANLEVERAGE INDUSTRY DEMAND TO THEIRADVANTAGE
In light manufacturing, the semiconductor
industry remains key to the economy andis likely to continue its expansion. As aresult, it is expected that candidates
specialising in the industry’s primaryfunctions, including R&D, process andquality, will have a superior bargaining
power with regards to salary.
The medical device, pharmaceutical and
FMCG industries, on the other hand, willstabilise in 2019 having previously been
through their own periods of expansion.
Within these industries, automation andengineering are the two main sectors
currently undergoing advancement, andcandidates from these areas will also
expect to see higher salary increments.
Within the heavy manufacturing sector the
resources industry has taken a plunge inrecruitment demand due to turbulent
economical change, while we have seen an
escalation of talent requirement in thechemical space, predominantly in themaintenance and engineering fields.
Candidates operating in these sectors may
also expect higher salary increases whenswitching between companies. Functions
within production and operations areseeing a steady increase in replacement
positions as candidates seek careeradvancing roles within different industries.

strategies. Major pull factors forcandidates are attractive remuneration
and benefits packages, clear structures incareer pathways, and training anddevelopment. Specialised candidates withstrong leadership, soft skills and awillingness to upskill others will remain inhigh demand.

“Within the heavy
manufacturing sector
the resources industry
has taken a plunge inrecruitment demand
due to turbulent
economical change
in Malaysia.”

APAC manufacturing
companies are championing thedigitalisation and end-to-end
integration of their operations
at a much faster rate than theirpeers in the US and EMEA.

CANDIDATES SEEK CAREERPROGRESSION AND IMPROVEDREMUNERATION
Overall, competition for top candidates
amongst employers is intensifying andcompanies will need to focus ondeveloping more effective attraction

Source:2018 Global Digital Operations report, PWC

MANUFACTURING & OPERATIONSAUTOMOBILEPRODUCTION

EngineerSupervisor

Manager

Director

Vice President

Mainland China

90 - 150

150 - 280

250 - 600

600 - 1,300

1,200 - 2,000Japan

5.5 - 6

7-9

8 - 1212 - 20

N/A

Malaysia

40 - 70

70 - 90

120 - 180

300 - 360

N/A

ENGINEERING

EngineerSupervisor

Manager

Director

Mainland China

90 - 150

150 - 280

250 - 600

600 - 1,300

Japan

5.5 - 7.5

7-9

9 - 1212 - 20

Malaysia

40 - 70

70 - 90130 - 200

300 - 360

R&D

EngineerSupervisor

Manager

Director

Mainland China

90 - 250

180 - 300

300 - 700

700 - 1,250

Japan

4.5 - 87-9

8 - 1212 - 18

Malaysia

40 - 70

70 - 90130 - 200

300 - 360QUALITY

EngineerSupervisor

Manager

Director

Mainland China

90 - 150

150 - 250

250 - 600

550 - 1,200

Japan

5.5 - 7.5

7-9

8 - 1210 - 18

Malaysia

40 - 70

70 - 90130 - 200

300 - 360

SALES & MARKETING

EngineerSupervisor

Manager

Director

Vice President

Mainland China

90 - 150

150 - 300

300 - 700

600 - 1,600

1,000 - 2,000

Japan

6-9

9 - 12

8 - 1510 - 30

N/A

MANAGEMENT ROLES

GM

Mainland China

800 - 2,500

Japan

15 - 25

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 97

MANUFACTURING & OPERATIONSAVIATIONPRODUCTION

EngineerSupervisor

Manager

Director

Mainland China

120 - 180

150 - 300

250 - 600

600 - 1,200

Malaysia

40 - 70

60 - 80

180 - 300

360 - 600

ENGINEERING

EngineerManager

Director

Mainland China

150 - 300

400 - 600

600 - 1,200

Malaysia

90 - 120

180 - 300

400 - 600

R&D

EngineerManager

Director

Mainland China

200 - 300

300 - 800

700 - 1,500

Malaysia

90 - 120

180 - 300

400 - 600QUALITY

EngineerSupervisor

Manager

Director

Mainland China

120 - 250

250 - 350

500 - 700

700 - 900

Malaysia

60 - 90

90 - 120

180 - 240

N/A

SALES & MARKETING

EngineerSupervisor

Manager

Director

Vice President

Mainland China

180 - 250

250 - 350

350 - 800

700 - 1,500

1,500 - 3,000

MANAGEMENT ROLES

GM

CTO

COO

CEO

Mainland China

1,200 - 2,500

1,500 - 2,000

2,400 - 4,000

3,000 - 5,000

NOTES• Salaries are represented in local currencies

98 | 2019 Hays Salary Guide - Asia

MANUFACTURING & OPERATIONSCHEMICALS & MATERIALSPRODUCTION

EngineerSupervisor

Manager

Director

Mainland China

120 - 200

150 - 300

300 - 600

600 - 1,200

Japan

4.5 - 6

7-9

8 - 1212 - 15

Malaysia

60 - 90

90 - 120

120 - 180

240 - 360

ENGINEERING

EngineerSupervisor

Manager

Director

Mainland China

120 - 180

150 - 300

300 - 500

500 - 1,300

Japan

4.5 - 6

7-9

8 - 1212 - 15

Malaysia

60 - 90

90 - 120

120 - 180

240 - 360

R&D

EngineerSupervisor

Manager

Director

Mainland China

150 - 250

250 - 450

400 - 800

800 - 1,800

Malaysia

60 - 90

90 - 120

120 - 180

240 - 360QUALITY

EngineerSupervisor

Manager

Director

Mainland China

120 - 180

180 - 300

300 - 600

600 - 1,200

Japan

4.5 - 6

7-9

8 - 1212 - 18

Malaysia

60 - 90

90 - 120

120 - 180

240 - 360

SALES & MARKETING

EngineerSupervisor

Manager

Director

Mainland China

150 - 200

200 - 400

350 - 700

600 - 2,000Japan

4.5 - 6

7-9

8 - 1212 - 15

MANAGEMENT ROLES

GM

CTO

COO

CEO

Mainland China

800 - 2,000

1,500 - 5,000

2,500 - 4,000

4,000 +

Japan

15 - 25

N/A

N/A

N/A

MEDICAL DEVICES/PHARMACEUTICALPRODUCTION

EngineerSupervisor

Manager

Director

Mainland China

120 - 200

200 - 350

400 - 600

700 - 1,500

Malaysia

40 - 80

60 - 80

180 - 300

400 - 600

ENGINEERING

EngineerSupervisor

Manager

Director

Mainland China

140 - 220

240 - 400

400 - 600

700 - 1,500

Malaysia

40 - 80

60 - 80

180 - 300

350 - 600QUALITY

EngineerSupervisor

Manager

Director

Mainland China

120 - 200

200 - 350

450 - 650

700 - 1,400

Malaysia

40 - 80

60 - 80

200 - 350

400 - 600

SUPPLY CHAIN

EngineerSupervisor

Manager

Director

Mainland China

120 - 200

200 - 300

350 - 550

700 - 1,300

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 99

MANUFACTURING & OPERATIONSFMCGPRODUCTION

EngineerSupervisor

Manager

Director

Mainland China

90 - 140130 - 250

250 - 600

550 - 1,200

Japan

4.5 - 6

7 - 8.5

8 - 1210 - 15

Malaysia

40 - 70

70 - 90130 - 195

300 - 450ENGINEERING

EngineerSupervisor

Manager

Director

Mainland China

100 - 140130 - 250

250 - 600

550 - 1,200

Japan

4.5 - 6

7 - 8.5

8 - 1210 - 15

Malaysia

40 - 80

80 - 100

120 - 180

240 - 400

R&D

EngineerSupervisor

Manager

Director

Mainland China

90 - 150

150 - 300

300 - 600

600 - 1,500

Japan

4.5 - 6

7 - 8.5

8 - 1210 - 15

Malaysia

40 - 70

70 - 90

120 - 180

180 - 400QUALITY

EngineerSupervisor

Manager

Director

Mainland China

90 - 150

130 - 250

250 - 600

600 - 1,200

Japan

4.5 - 6

7 - 8.5

8 - 1210 - 15

Malaysia

40 - 70

70 - 90

120 - 180

180 - 300

MANAGEMENT ROLES

GM

COO

CEO

Mainland China

800 - 1,800

1,800 - 2,500

1,800 - 3,500

Japan

15 - 50

30 - 50

40 - 60

Malaysia

240 - 600

360 - 650

N/A

NOTES
• Salaries are represented in local currencies

100 | 2019 Hays Salary Guide - Asia

MANUFACTURING & OPERATIONSHEAVY INDUSTRYPRODUCTION

EngineerSupervisor

Manager

Director

Vice President

Mainland China

100 - 150

150 - 220

250 - 400

500 - 1,000

1,000 +

Japan

4.5 - 6

7-9

8 - 1212 - 15

N/A

Malaysia

60 - 90

90 - 120

120 - 180

240 - 360

360 - 500

ENGINEERING

EngineerSupervisor

Manager

Director

Vice President

Mainland China

100 - 150

150 - 240

300 - 500

500 - 1,000

N/A

Japan

4.5 - 6

7-9

8 - 1212 - 15

N/A

Malaysia

60 - 90

90 - 120

120 - 180

240 - 360

400 +

R&D

EngineerSupervisor

Manager

Director

Vice President

Mainland China

120 - 180

150 - 250

300 - 500

500 - 1,000

1,000 - 1,500

Japan

4.5 - 6

7-9

8 - 1212 - 15N/AQUALITY

EngineerSupervisor

Manager

Director

Mainland China

80 - 150

150 - 200

300 - 500

500 - 900

Japan

4.5 - 6

7-9

8 - 1212 - 15

Malaysia

60 - 90

90 - 120

120 - 180

240 - 360

SALES & MARKETING

EngineerSupervisor

Manager

Director

Vice President

Mainland China

120 - 300

200 - 300

400 - 600

700 - 1,000

1,000 - 1,800

Japan

4.5 - 6

7-9

8 - 1212 - 15

N/A

MANAGEMENT ROLES

GM

COO

CEO

Mainland China

1,000 - 2,000

N/A

1,000 +

Japan

12 - 30

15 - 30

20 - 35

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 101

MANUFACTURING & OPERATIONSELECTRONICSPRODUCTION

EngineerSupervisor

Manager

Director

Vice President

Mainland China

100 - 150

130 - 250

200 - 750

700 - 1,2001000 - 1,800

Japan

4.5 - 6

6 - 8.5

9 - 1212 - 15

N/A

Malaysia

40 - 70

70 - 120

180 - 240

300 - 450

450 - 700

ENGINEERING

EngineerSupervisor

Manager

Director

Vice President

Mainland China

100 - 160

150 - 300

250 - 800

750 - 1,500

1,000 - 2,000Japan

4.5 - 6

6 - 8.5

9 - 1212 - 15

N/A

Malaysia

40 - 70

70 - 120

180 - 240

300 - 450

450 - 700

R&D

EngineerSupervisor

Manager

Director

Vice President

Mainland China

100 - 160

150 - 300

250 - 800

750 - 1,500

1,200 - 2,000Japan

4.5 - 6

6 - 8.5

9 - 1212 - 15

N/A

Malaysia

40 - 70

70 - 120

180 - 240

300 - 450N/A

QUALITY

EngineerSupervisor

Manager

Director

Mainland China

100 - 150

150 - 250

250 - 750

700 - 1,500

Japan

4.5 - 6

6 - 8.5

9 - 1212 - 15

Malaysia

40 - 70

70 - 120

180 - 240

300 - 360

SALES & MARKETING

EngineerSupervisor

Manager

Director

Vice President

Mainland China

100 - 160

140 - 250

200 - 850

800 - 1,500

1,200 - 2,500

Japan

4.5 - 6

7-9

9 - 1212 - 15

N/A

MANAGEMENT ROLES

GM

CTO

COO

CEO

Mainland China

1,000 - 2,000

1,500 - 3,000

2,500 - 3,500

4,000 +

Japan

12 - 30

N/A

20 - 30

20 - 35

PROJECT MANAGEMENTEngineerSupervisor

Manager

Director

Mainland China

80 - 180

150 - 200

200 - 600

600 - 1,200

Japan

6-8

7-9

10 - 1212 - 15

Malaysia

40 - 70

70 - 100

120 - 180

300 - 420

OPERATIONAL EXCELLENCE

Lean Specialist

Lean Manager

Six Sigma
Specialist

Six Sigma Master(Black belt)

Mainland China

200 - 300

300 - 700

200 - 400

400 - 1,200

Japan

6 - 8.5

8 - 126 - 8.5

10 - 15

Malaysia

80 - 180

180 - 300

180 - 240

300 - 420

SUPPLY CHAIN

EngineerSupervisor

Manager

Director

Mainland China

100 - 180

150 - 250

200 - 700

600 - 1,200

NOTES• Salaries are represented in local currencies

102 | 2019 Hays Salary Guide - Asia

MANUFACTURING & OPERATIONSMACHINERY/MECHANICALPRODUCTION

EngineerSupervisor

Manager

Director

Mainland China

100 - 150

130 - 250

250 - 500

500 - 1,200

Japan

4.5 - 6

7-9

8 - 1212 - 15

Malaysia

40 - 70

70 - 120

180 - 240

300 - 450ENGINEERING

EngineerSupervisor

Manager

Director

Mainland China

100 - 200

200 - 300

300 - 700

700 - 1,200

Japan

4.5 - 6

7-9

8 - 1212 - 15

Malaysia

40 - 70

70 - 120

180 - 240

300 - 450

R&D

EngineerSupervisor

Manager

Director

Mainland China

100 - 220

200 - 300

300 - 700

700 - 1,500

Japan

4.5 - 6

7-9

8 - 1212 - 15

Malaysia

40 - 70

70 - 120

180 - 240

300 - 450QUALITY

EngineerSupervisor

Manager

Director

Mainland China

80 - 150

140 - 230

250 - 700

700 - 1,200

Japan

4.5 - 6

7-9

8 - 1212 - 15

Malaysia

40 - 70

70 - 120

180 - 240

300 - 450

SALES

EngineerSupervisor
Manager(Area Manager) (Regional Manager) Director

Vice President

Mainland China

100 - 200

200 - 300

300 - 800

700 - 1,500

1,000 - 2,500

Japan

5-9

N/A

8 - 1210 - 15

N/A

MARKETING

Specialist

Supervisor

Manager

Director

Vice President

Mainland China

100 - 200

150 - 300

300 - 700

800 - 1,500

1,000 - 2,500

Japan

5-9

N/A

8 - 1210 - 15

N/A

MANAGEMENT ROLES

GM

COO

CEO

Mainland China

1,500 - 2,500

2,000 - 3,500

4,000 +

Japan

12 - 30

20 - 30

20 - 40

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 103

MARKETING & DIGITAL

MAINLAND CHINA

HONG KONG

SOCIAL MEDIA AND ONLINE MARKETINGSECTORS ARE SETTING THE STANDARD
FOR CANDIDATE GROWTH AS
COMPANIES LOOK TO BUILD BRANDS
AND ACCESS NEW CONSUMER STREAMSCOMPANIES ARE TURNING TO DIGITAL
TRANSFORMATION AS WELL AS
TRANSFORMING THEIR MARKETINGTEAMS

Throughout 2018 we saw a steady growth
in marketing and digital jobs. The vast
majority of hiring activity centred aroundthe online marketing sector, with thepositions in content marketing, integrated
marketing, digital marketing and social
media marketing most prominent. In
traditional marketing functions, candidates
were expected to have a comprehensive
online background rather than purely
offline skills, resulting in salary increases
for digital marketing professionals, thoughtraditional marketers saw comparatively
lower increases, if any at all.

SALARY INFORMATION: MARKETING & DIGITALCANDIDATES EXPECTED TO BUILD THEIRONLINE BRANDS
In 2019, we are foreseeing further growth
for the marketing and digital function.
Marketing candidates will be expected tohave strong knowledge and experience innew social media channels, marketing
technology platforms and consumer touchpoints where they can quickly build up astrong brand by way of their online anddigital presence.
COMPANIES INCREASING ONLINEVISIBILITY, UTILISING PLATFORMS FOR
CUSTOMER IDENTIFICATIONAs companies in Mainland China capture
the market in online strategy utilisation,
recruitment demand will continue in theareas of digital marketing and social
media as well as customer relationshipmanagement (CRM), as such functions are
essential to assist companies in building
their brand presence on online sales
channels. With most companies investing
more and putting on-going emphasis on
online strategies, we see talent shortagesin e-commerce marketing, data marketing
and CRM, as these roles employ platforms
and collected data to identify consumers
in areas where they can generate higher
sales. We strongly recommend thatcandidates gain experience in suchfunctions in order to build a strong
attractive profile for future opportunities.

104 | 2019 Hays Salary Guide - Asia

2018 saw companies operating in Hong
Kong’s commercial and industrial sector
putting an increasing focus on their digitaltransformation strategies, bringing in a
number of digital marketing experts toaccompany their traditional marketing
teams. As a result, the coming year will
see a continuation in demand forcandidates in this highly specialised area.
This move represents a significant shift
away from times when digital marketing
teams would have been a solitary
operator, with the new trend requiring
departments be composed of a wide
range of specialists. These specialists,
including CRM, data analytics andcustomer experience professionals, consistof the expertise companies require inorder to create a seamless and consistentcustomer journey across all channels: theomni-channel integration.
CANDIDATES WITH MAINLAND CHINAKNOWLEDGE REQUIRED FOR THE
GREATER BAY AREA
Overall, growth in a number of areas indigital marketing is expected. E-commerce
experts with knowledge in third-party
platforms will be in high demand, as will
data analytics and digital data experts. In
addition, traditional marketing recruitment
remains active, partially driven byincreased activity in the Greater Bay Area
(GBA). The market is still in need of strong
traditional marketers with working
experience in Mainland China’s market.
Within the financial and banking sectors,
2018 saw intense focus on customer
experience, digital transformation, content
marketing and the use of content incustomer acquisition and the creation ofbrand voice.
MARKET CHANGES AND SOCIAL MEDIA
MEAN DATA MONITORING INCREASESIN VALUE
Digital marketing with an emphasis onsocial media is still a core marketingstrategy, particularly when it comes to theuse of using content strategy and social

media platforms to initiate market
penetration across all types of banking
products in retail, commercial, institutional
and investment products.
With an ever-changing market and betterinformed customers, the use of data to
make marketing decisions is also on therise, meaning that the utilisation of
performance marketing and data
monitoring will be a trend in the coming
year. Also likely to be of great importanceis the way digital technology is shifting themindset of banking sectors, leading firms
to seek out candidates with a productmarketing background.

JAPAN
WITH GOVERNMENT ENDORSEMENT,
JAPAN’S MARKETING AND DIGITALSECTOR IS BOOMING ACROSS A WIDERANGE OF SECTORS2018 bore witness to a great burst ofactivity in the market as marketing andcommunications underwent something ofa transformation, with traditional
marketing giving way to technology, social
media and e-commerce.
Competition for customer engagement
has given rise to a number of roles forcustomer relationship managers, consumer
insight analysists, content developers, anddigital strategists. The area most affectedby this modernisation is the consumer
goods industry, in particular the FMCG,
food and beverage (F&B), online services,and consumer retail sectors.

“In Hong Kong,
there is still a strong
need for traditional
marketers withworking experiencein Mainland China.”

MARKETING & DIGITALThe FMCG and F&B industries are thecurrent trailblazers in marketing and digital
innovation with the largest teams behindthem. The marketing function is is nolonger considered a supporting function
but has instead become an important
strategic aspect of business by providing
valuable consumer insight and using data
to create brand loyalty, ensure customer
retention and drive sales.
Within digital marketing, the online
services sector has risen in dominancewith the emergence of international
companies in the market. This area isproving to be increasingly attractive foryoung Japanese professionals, althoughtarget hires for these MNCs tend to be for
IT engineers rather than digital marketing
professionals.
CRM IMPORTANT FOR LUXURY RETAILAND IT ALIKE
In the luxury retail sector companies areboosting their sales by engaging withcustomers online as well as investing heavily
in digital and CRM, creating their own
e-commerce platforms. Also focusing on
CRM are IT and industrial areas, where there
is a desire to create an online presence for
new products despite a primary reliance on
traditional marketing strategies.
Digital marketing is, and will remain, a
primary focus in Japan until 2020 at thevery least, as the Japanese government isstrongly encouraging companies toincrease their investment and manpowerin the digital sphere. Thanks to thisendorsement, the industry is likely tocontinue its growth, particularly ascompanies recognise it as a faster andmore cost-efficient way of reaching both
domestic and international consumers.

MALAYSIASALARY AUGMENTATION IS BEING SEENACROSS A WIDE RANGE OF SPECIALISMS
IN MALAYSIA’S MARKETING AND DIGITAL
INDUSTRYAs the adoption of new technologies such
as Marketo, Saleforce and Unica becomes
more commonplace in Malaysia,
companies are looking to reap the benefits
as quickly as they possibly can. As a result,candidates working in the areas of CRM,
campaign analysis and marketing
operations will see demand for their skills
rise, leading to broader salary ranges.
Another sector seeing intensified candidate
demand is performance marketing, where
professionals who are able to buy media
space, monitor operation times andanalyse campaigns are still very muchsought after. One explanation for this isthat companies lacking in both digitalmaturity and an understanding of themarket are inflating salaries to the benefitof e-commerce talent.
FMCG AND RETAIL MARKETERS SEEKIMPROVED SALARIES IN FINANCIALSERVICES
Salary growth is being seen too in FMCG
and retail sectors as candidates abandon

traditional branding and communication
roles in favour of the higher remunerationof financial services. With governing
bodies making it increasingly difficult forbanks to swap allegiances to competitors,
ambitious marketers are finding their skills
are transferable to the more heavilyregulated though better-funded industry,
driving up salaries in the roles they leavebehind as FMCG and retail companies
compete to retain the remaining talent.
Salary rises are also prominent for sales
heads, reflecting the need for e-commerce
expansion competency. Companies areseeking digitally literate entrepreneurial
talent and are willing to take a risk on
start-up profiles.
SOCIAL MEDIA TALENT POOL REMAINSSHALLOW, THOUGH VALUE TO RISE
In the social media world, we are seeing
more content positions materialise, withnew roles such as online content editors
created. However, the talent pool ofcandidates able to navigate across all
platforms and lead paid and organic social
media campaigns is extremely shallow in
Malaysia and as such their value will rise.

industry continues to face a number ofchallenges. Primary amongst these is thatadvertising sales revenue is moving awayfrom TV and into online channels at afaster pace month-on-month, and MNC
broadcasting conglomerates are realigning
both their sales and marketing focus
accordingly. UX/UI has become a coreskillset for would-be marketers, and aslowly-building demand for marketing
professionals with specific investor
relations exposure underlines the growing
positive sentiment in the market.

“Singapore’s rapidly
expanding outsourced
food delivery industry
is creating demandfor content andinsight specialists.”

But despite this concentrated focus on
e-commerce and social media, there arestill roles available for traditional
marketers. These candidates are still
considered adept at delivering integrated
campaigns, however they tend to lack thetechnical hands-on experience required toprovide in-house teams the streamlined,
cost-saving functions they desire.

SINGAPORE
SINGAPOREAN COMPANIES ARE
SHOWING INCREASING UNDERSTANDING
OF THE ADVANTAGES OF DIGITAL
MARKETING
2018’s boom within Singapore’s fintech
industry continues into the coming year,
albeit with slightly less intensity, while
e-commerce has performed consistently
well within the region, creating a wide
range of new roles in the area. The rapidly
expanding outsourced food delivery
industry has created an upsurge indemand for content and insight specialists
as a growing number of providers clamour
to grow their customer base.
Education is also a growth area within
Singapore, and as the market moves
toward online delivery digital marketers inthis area are in demand.
DIGITAL IN-HOUSING INCREASING IN
ADVERTISING AND PR SMES
The potential impact that a comprehensive
and joined-up digital marketing strategy
can have on a company’s ability to gain
market share and drive brand recognition
is gaining greater acknowledgement, andthis realisation is leading to a growing
trend for the in-housing of thesecapabilities. However, hiring amongst large
agencies remains stagnant, though there
has been marginal growth within theadvertising and PR industry from SMEs.

Marketers in APAC (ten percent) are the least assured in
the world when it comes tointegrating data andextracting insight.

MNC BROADCASTERS SHIFTING FOCUS
AWAY FROM TV AND TOWARDS ONLINE
Traditional marketing areas remain
relatively flat and the broadcasting

Data source: Getting Media Right report by
Kantar published in October 20182019 Hays Salary Guide - Asia | 105

SALARY INFORMATION: MARKETING & DIGITALFMCG LEADS THE WAY ANDMILLENNIALS FLOCK TO ONLINE
MARKETINGMARKETING & DIGITAL
MARKETING- TRADITIONAL

MarketingDirector

MarketingManagerMarketingExecutive

Mainland China

800 - 1,800

500 - 900

100 - 250

Hong Kong

900 - 1,600

450 - 900

180 - 360Japan

12 - 20

8 - 12

4-7

Malaysia

300 - 540

96 - 180

36 - 72

Singapore

140 - 250

90 - 140

39 - 65

MARKETING- BRANDING

Direct Marketing Channel
ManagerManager

Global Brand
Manager

Product/Brand
Manager

Mainland China

450 - 750

700 - 1,000

250 - 550

450 - 750

Hong Kong

480 - 780

550 - 700

900 - 1,500

480 - 870

Japan

8 - 12

6 - 10

10 - 15

6 - 12

Malaysia

96 - 180

120 - 190

150 - 220

84 - 150

Singapore70 - 150

70 - 150

80 - 150

70 - 120

MARKETING- ADVERTISING

Group AccountDirector

Account
Director

Account
Manager

Account
Executive

Media Planner

Mainland China

500 - 800

400 - 800

280 - 500

130 - 250

N/A

Hong Kong

700 - 1,000

450 - 700

360 - 550

180 - 360

300 - 540

Japan

12 - 18

10 - 15

8 - 10

4-7

4-7

Malaysia

190 - 300

120 - 190

72 - 120

36 - 72

42 - 72

Singapore120 - 220

100 - 160

60 - 100

40 - 60

60 - 90

MARKETING- CREATIVE

Executive
Creative
Director

Creative
Director

Art Director

Copywriter

Mainland China

1,000 - 2,200

700 - 1,100

400 - 600

150 - 250

Hong Kong

1,000 - 1,500

540 - 720

480 - 600

240 - 600

Japan

10 - 20

7 - 12

5-9

5-8

Malaysia

230 - 360

170 - 230

170 - 230

48 - 96

Singapore150 - 180

100 - 150

100 - 130

40 - 80

NOTES• Salaries are represented in local currencies

106 | 2019 Hays Salary Guide - Asia

MARKETING & DIGITAL
MARKETING- COMMUNICATIONSMarketingPublic Relations/ Internal
Corporate
Communications Communications Communications Communications
ManagerManagerManagerManager

Mainland China

300 - 600

300 - 700

250 - 500

300 - 700

Hong Kong

400 - 600

300 - 540

360 - 540

540 - 720

Japan

8 - 158 - 12

6-8

7 - 12

Malaysia

84 - 120

82 - 144

72 - 120

84 - 144

Singapore70 - 150

80 - 160

80 - 160

80 - 160

MARKETING- MARKET RESEARCH

Market Research/ Market Research/ Market Research/
Consumer
Consumer
Consumer
Insights Director Insights Manager Insights Analyst

Mainland China

300 - 700

300 - 700

150 - 250

Hong Kong

500 - 1,200

400 - 800

300 - 600

Japan

8 - 12

6 - 10

4-6

Malaysia

N/A

96 - 180

42 - 72

Singapore120 - 180

80 - 120

60 - 90

DIGITAL- MARKETING

Digital/Online
MarketingManager

Head ofeCommerce

DigitalCommunication/
Content Manager

Mainland China

300 - 600

300 - 600

300 - 600

Hong Kong

480 - 840

400 - 840

480 - 780

Japan

8 - 158 - 15

6 - 10

Malaysia

96 - 150

120 - 170

72 - 100

Singapore

80 - 150

100 - 150

60 - 100

DIGITAL- CUSTOMER EXPERIENCE

Department
Head

Director

Senior Manager Manager

CRM Manager

Mainland China

800 - 1,200

500 - 1,000

480 - 800

300 - 600

300 - 600

Hong Kong

1,000 - 1,500

960 - 1,200

720 - 900

480 - 600

480 - 660

Japan

10 - 20

8 - 158 - 10

5-8

6-8

Malaysia

240 - 360

180 - 240

120 - 180

96 - 120

70 - 100

Singapore

200 - 250

150 - 180

N/A

80 - 120

60 - 100

DIGITAL- TRANSFORMATION & ANALYSTICS

Head of Digital
Transformation

Web Analytics
Manager

Mainland China

1,000 - 2,000

540 - 660

Hong Kong

800 - 1,600

500 - 800

Japan

12 - 20

6-9

Malaysia

96 - 144

48 - 96

Singapore150 - 220

90 - 150• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 107

OFFICE PROFESSIONALS

MAINLAND CHINAGROWTH EXPECTED IN LIFE SCIENCES,
E-COMMERCE AND FINANCIAL SERVICES
The office professionals market in
Mainland China has remained stablewithout following major market trend
shifts. As workflows and other supporting
functions have been streamlined by theuse of technology, 2018 saw relative
stagnation throughout the industry.
Looking ahead to 2019, the market outlook
for office professionals is mixed, as there
will be various influencing factors dictating
the demand for talent. Industries such as
life sciences, financial services,
e-commerce and internet companies are
growth areas requiring more officeprofessional talent.

SALARY INFORMATION: OFFICE PROFESSIONALSSTRATEGIC BUSINESS PARTNERING AN
EXPECTED SKILLSET FOR CANDIDATESIN DOMESTIC COMPANIESFor domestic companies the demand forsupport staff will be greater regardless ofindustry, while MNCs covet mid to seniorlevel candidates. Office professionals
moving to domestic companies can expect
their employers to include strategic
business partnering duties as part of theirfunction, though at MNCs the outlook isless optimistic as there will be a lessdemand for talent due to muted businessgrowth projections across foreign entities.
Despite this market outlook for 2019,
candidates will still have a preference
towards MNCs in comparison to domestic
companies, especially SMEs. The
predominant drivers behind this enduring
preference are determined by MNCs’stronger employer brand, establishedinternal training systems and superlative
career development paths.
COMPANY ORGANISATIONAL CULTURE A
KEY CONSIDERATION FOR CANDIDATESRECEIVING MULTIPLE OFFERS
When competing for top talent in such acandidate driven market organisations
need strong unique selling points in a bid
win talent over. When considering offers,
office professionals will take into accountnot only salary packages, but also theorganisational culture of a company, itssize, and how well they interact with hiringand line managers. These factors will play108 | 2019 Hays Salary Guide - Asiaa critical role in decision making
processes, as candidates are likely toreceive multiple offers during their job
search. Given such demand, a reasonable
increment in compensation and salary is
expected for 2019, especially forexperienced mid-level office professionals.

HONG KONG
JUNIOR CANDIDATES ARE IN A STRONGPOSITION TO RECEIVE RECORD SALARY
INCREASES
Hiring for office professionals is set toremain static across most industries andsectors. In 2018 starting salaries for fresh
graduates increased by between 20 and
25 per cent, and with the number of juniorcandidates in the pool having decreased
over recent years, average salaries offeredto this demographic are higher thanever before.
WITH MORE RESPONSIBILITIES COMES
IMPROVED SALARIES FOR OFFICESUPPORT ROLES
In order to reduce overall hiring costs foroffice supporting roles, commercial and
SME financial institutions have begun
merging several mid to senior-level
positions into one. As a result, companies
are willing to offer higher salaries — from
20 to 25 per cent — to candidates that are
multi-skilled and are able to handle more
responsibilities. We predict this willcontinue into 2019, and office professionals
in general should expect a salary incrementof ten to 20 per cent when changing jobs.
CONTRACTING ON THE RISE, AND
MANDARIN-SPEAKING TALENTREQUIREDDue to an influx of Mainland China-based
companies establishing new offices in Hong
Kong in order to launch IPOs, recruitment
needs have increased leading to a greater
demand for Mandarin-speaking officeprofessionals. A significant hiring trend for
office professionals in start-up companies isalso seen alongside the continuous
development of financial technology.
On the contracting side we predict themarket for temporary candidates willremain strong, particularly within
investment banking, unless there is asudden change in the economic situation.

JAPAN
THE NEED FOR BILINGUAL TALENTTYPIFIES JAPAN’S OFFICEPROFESSIONALS SECTOR
2018 was an active year in Japan’s officeprofessional market, with a predominantfocus on bilingualism and English ability.
This was especially apparent in the pursuitof bilingual junior and senior assistants towhom companies offered competitive
salary increases, with junior candidates
with potential and a flexible mindset
particularly coveted. This, as well as thetrend for customer service roles across alllevels and industries, is expected tocontinue into 2019.
Another area in which bilingualism isrequired is for career-driven senior
executive assistants who are expected to
combine English fluency with an ability towork as a business partner. Junioradministrative assistants with good
English and flexibility and bilingual
customer service professionals are alsosought after, with variable salary ranges tomatch market expectation.
COMPANIES FACING MANAGEMENTCULTURAL CHANGE REQUIRE BILINGUALEXECUTIVE AND GROUP SECRETARIESThe demand for bilingual temporary officeprofessional staff continues to increase inTokyo, a trend that is particularly prevalent
in organisations which have been acquiredby or merged with overseas companies.
Where management changes have been
made from Japanese to foreign executives,
executive secretary or group secretary
candidates are in demand. Althoughinterpretation or translation skills are notnecessarily required for these roles, they
can put candidates at a strong advantage.

“There is signiﬁcantdemand for officeprofessionals to ﬁllroles in start-ups
across Hong Kong.”OFFICE PROFESSIONALS

Temporary customer service roles are notof such high demand, and requiring only
Japanese skills, salaries are more muted at¥3 million to ¥3.5 million. However, forproject-based or short to mid-term
temporary interpreter or translator
positions, where exemplary English ability
is required, remuneration packages can bearound ¥4 million to ¥4.5 million, though
the number of these roles are limited.

PROJECT COORDINATOR ROLESEXPANDING IN SCOPE AND BECOMINGPERMANENT
With MNCs entering into the automotive,
vessel manufacture and aeronautic areas of
the Japanese manufacturing industry,
project coordinator positions have seen
increased salary raises. Previously, this role
may have been undertaken by temporary
workers with interpretation and translation
skills. However, duties have grown fromserving as a bridge between Japan andforeign countries/regions within theindustry to now encompass multiple
operations such as assisting project
managers, presentation preparation, generalaffairs and administration. As a result, thedemand for permanent work is growing.

ADMINISTRATION

Administration
Assistant(6-12 mths)

Administration
Assistant(12+ mths)

Project Admin
Assistant(3+ yrs)

Office Manager

Project
Coordinator

Mainland China

50 - 80

60 - 150

120 - 200

250 - 500

65 - 120

Hong Kong

140 - 180

180 - 300

180 - 300

300 - 600

200 - 300

Japan

3.5 - 4.5

4-6

N/A

7 - 14

4-7

ADMIN/SPECIALISTS

Data Entry
Operator

Sales
Coordinator

Records Officer

MedicalSecretary

Translator

Mainland China

N/A

75 - 180

N/A

N/A

N/A

Japan

3.5 - 5

4.5 - 7

N/A

N/A

6-9

RECEPTION

Receptionist(up to 12 mths)

Receptionist(12+ mths)

Receptionist/
Admin Assistant(12+ mths)

Mainland China

50 - 80

70 - 100

80 - 120

Hong Kong

130 - 180

180 - 380

180 - 380

Japan

4-5

4.5 - 6.5

4 - 6.5• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 109

SALARY INFORMATION: OFFICE PROFESSIONALS

Also requiring bilingual skills are directcontract or permanent headcountpositions in general administration andgeneral affairs, although this does notnecessarily apply to executive assistants orgroup secretaries, whose roles do not
involve extensive reading and writing.
Salaries range from ¥3.5 million to ¥4
million for EA or admin roles, withoccasional high-level roles paying up to¥4.5 million.

OFFICE PROFESSIONALSSECRETARIAL

Secretary(up to 12 mths)

Secretary(12+ mths)

Team Secretary(3+ yrs)

Personal
Assistant/
Team AssistantExecutive
Assistant(for 1 person)

Mainland China

60 - 100

70 - 250

100 - 180

130 - 260

220 - 500

Hong Kong

192 - 264

200 - 360

200 - 420360 - 600

400 - 660

Japan

3-5

5-7

5-8

5-8

7 - 14LEGAL SUPPORT

Legal Secretary Legal Secretary Legal Secretary Legal Personal(up to 2 yrs)
(2-4 yrs)(4+ yrs)
Assistant

Mainland China

65 - 104

96 - 156

Hong Kong

190 - 288

Japan

4-6

BANKING & FINANCE SUPPORTSecretary

Senior Secretary Personal Assistant Executive Assistant

Mainland China

130 - 200

200 - 360

195 - 260

400 - 650

Hong Kong

192 - 250

360 - 480

240 - 600

360 - 600

Japan

5-7

6 - 10

7-11

7 - 14

PROPERTY & CONSTRUCTIONSUPPORT

Project
Secretary/
Administrator

Site Secretary/
Administrator

Facilities
Administrator

Contracts
Administrator(Residential)

Client Liaison(Residential)

Japan

4-6

4-6

4-6

N/A

N/A

CUSTOMER SERVICE/CALL CENTER

Operator

Operator(2+ yrs)

Call Center
Manager

Call Center
Manager(5+ yrs)

Call Center
Director(Nationwide)Japan

3.5 - 54 - 6.5

6-8

7 - 1210 - 15

Customer
ServiceSpecialist

Customer
Service
Manager

4-6

10 - 15

Japan

NOTES
• Salaries are represented in local currencies

110 | 2019 Hays Salary Guide - Asia

140 - 300

200 - 350

300 - 420

420 - 500

400 - 720

5-7

5.5 - 85 - 8.5

PROCUREMENT & SUPPLY CHAIN

TALENT SHORTAGES ACROSS
E-COMMERCE, SOURCING AND
LOGISTICS PUTTING UPWARD PRESSURE
ON SALARIESFor the most part, Mainland China’s
procurement and supply chain sector is atalent-short market, meaning candidates
looking to advance their careers will findthemselves in a good position to negotiatesalary packages and benefits.
In the coming year, traditional MNCs will
be actively looking for procurement andsupply chain experts to help business units
utilise internal resources in order to drive
supply chain efficiency and customer
satisfaction. Therefore, talent withorganisation design and change
management experience are likely toreceive salary increments.
TALENT WITH GLOBAL DC MANAGEMENTEXPERIENCE IN STRONG NEGOTIATIONPOSITIONAs the cost of raw materials is increasing,
adept sourcing commodity managers witha knowledge of global supply basemanagement are highly sought after.
E-commence logistics experts are also inhigh demand, and candidates who areexperienced in global DC management or
cross-border logistics can enjoy aheightened bargaining power in 2019.
Furthermore, sales and operations (S&OP)
talent and logistic managers are also
attracting much attention, therebycommanding higher salaries, althoughtraditional logistics specialists, particularly
in freight forwarding and domestictransportation, will face stiff competition.
While employers are not looking toincrease salaries for talent in operationalroles, they may do so with their sales
managers or key account managers in the
coming year.

HONG KONG
CONCERNS SURROUND COMMODITY
SOURCING AS DISQUIET OVER A
POTENTIAL TRADE WAR HEIGHTENS

Kong’s procurement and supply chain
market in the coming year.
Procurement professionals specialising incommodity sourcing are likely to seechanging market conditions driven byincreasing raw material prices and thepotential impact of the US-Mainland China
trade war. Hires with unique global
insights and a proven track of maximisingmaterial costs through identifying new
strategic sourcing channels are highly
coveted by employers, therebycommanding competitive salary packages.
INCREASES FOR IT AND PROPERTYPROCUREMENT, BUT RETAIL TO SEESTAGNATION
Indirect procurement professionals withdeep category knowledge in high profile
commodities such as IT and property will
also experience considerable salary
increases in regional and international
companies. By contrast, challenging global
trading conditions for many consumer
brands and retail organisations will lead tosalaries remaining stagnant in Hong
Kong’s retail trading and sourcing industry.
An increased emphasis on the use oftechnology in Hong Kong’s supply chain
sector will drive recruitment for demandplanners, supply chain managers andorder fulfilment specialists with experiencein ERP system implementation, big datarelated forecasting and S&OP automation.
Consequently, the shortage of skilled
candidates will drive salary increases inthe short to medium term.
LOGISTICS PROFESSIONALSRECOMMENDED TO GAIN ESPOSURE TO
NEW TECHNOLOGIES
Logistics professionals are likely to seesalaries remain static as organisations
drive cost saving initiatives and outsource
their logistics functions to third-party
providers. Many third-party logistics (3PL)
organisations are also leveraging on newtechnologies such as ‘real-time’ logistics
and inventory tracking systems. Logistics
professionals with exposure to thesesystems are in a better position tonegotiate salary packages.

JAPAN
MNCS BELIEVE LOCAL TALENT ARE
LACKING SKILLS, MEANING CANDIDATESMUST UNDERTAKE UPSKILLING
Global technology is fast-moving in theworld of procurement and supply chain
management, but many local Japanesecompanies remain behind thetrend. Despite the unprecedented degreeof upgrades in automation, orderfulfilment, and demand planning in thepast year, the adoption rate by firms inJapan has been low. As such, candidates
with a strong grasp of data manipulation in
Microsoft Excel continue to be in demand.
TALENT SKILLED IN TECHNOLOGY AT
GREAT ADVANTAGE
Due to the pace of new technology
adoption and integration of IoT withproduction and supply, global companies
expect more than what the Japanesecandidate market has to offer. Candidates
wishing to take advantage of regional or
global opportunities must consistently
adapt, seeking continuous upskilling
opportunities through self-learning andresearch. This presents great possibilities
for supply chain management
professionals who have overseen
integrations involving the replacement oflegacy systems with newer technologies.

“Talent in
Mainland China
with organisation
design and change
management
experience are likely
to receive salary
increments.”

The impact of changes to global trading
practises and the increasing use ofinnovative technologies will result inadjustments to salary packages in Hong2019 Hays Salary Guide - Asia | 111

SALARY INFORMATION: PROCUREMENT & SUPPLY CHAIN

MAINLAND CHINA

PROCUREMENT & SUPPLY CHAINLAST MILE LOGISTICS REMAINS A
PRIMARY CONCERN FOR RETAIL AND
3PL COMPANIES
Moreover, with soaring customer
expectations around delivery times and anincreasing number of supply channels,
talent in retail and 3PL companies are kept
on their toes. Last mile logistics is yet
again on the rise as more companies
provide increasingly cheaper options for
non-peak delivery times, and distributors
are therefore establishing a higher numberof smaller facilities in closer proximity toconsumers. Candidates with warehouse
operations experience are well placed tomake a shift from large-scale firms tomore agile outfits which are more inclined
to adopt the latest technologies in daily
operations.
Companies are also investing in procurement
consultancy professionals who have thecapability to spot newer and more efficient
cost-saving models in order to centralise
their currently scattered cost centres.

MALAYSIA
2018 SAW YET MORE ASIA-EXPANSIONORIENTATED MNCS ESTABLISH SUPPLYCHAIN HUBS AND SHARED SERVICECENTRES IN MALAYSIASALARY INFORMATION: PROCUREMENT & SUPPLY CHAIN

Recruitment for the procurement andsupply chain functions is consistently
growing in Malaysia with expanding
skillset requirements.
In the past year we have observed
increasing market demands in the region
driving businesses looking to gain an
upper hand in their respective sectors to
improve processes and optimise resources.
As a result, MNCs have continued toestablish manufacturing and supply chain
hubs in Malaysia as a part of their regional
growth plan in Asia.
LEAN, KAIZEN AND SIX SIGMA REMAIN
IMPORTANT CANDIDATE SKILLS
Employers continue to seek local
candidates who are able to give insights
into market demands. Experts with
regional start-up or stabilisation
experience generally have better leveragein the candidate market. Similar to trends
seen in 2018, Six Sigma, Lean and Kaizen
remain the focus in supply chain

112 | 2019 Hays Salary Guide - Asia

management, as well as the growing
transitions to SAP and cloud SAP.
There will continue to be a growing
demand for shared services leading the
procurement and supply chain function to
evolve beyond traditional operations andinto greater strategic planning andstakeholder management. The lower cost oflabour and resources as well as the richtalent capabilities and language
competencies in Malaysia (English, Bahasa,
Mandarin, Hindi) will be the driving factorsof this emerging market in the coming year.
CAREER GROWTH OPPORTUNITIES AS
REWARD FOR STRONG EMPLOYEEPERFORMANCEWe expect moderate increases toremuneration packages in view ofincreasing recruitment standards in the
procurement and supply chain industry. On
the upside, high-performing employees
and managers may look forward to newopportunities to hone updated skills andaccelerate their career growth.

SINGAPORE
BUSINESS PICKED UP TOWARDS THE
END OF 2018 WITH START-UPS
FLOURISHING
Though the first half of 2018 wassomewhat unremarkable for procurement
across Singapore’s industries, May saw agreater degree of movement, leading towhat would become a year of volatility inthe market. Global financial services firms
continue to outsource their procurement
functions beyond Singapore, however the
manufacturing sector has been picking up
in the semi-conductor arena.
In the start-up scene, Singapore remains a
primary hub for new companies looking toestablish their regional procurement
functions. As firms attempt to reduce
manhours and outsource operational work,
specialists in strategic sourcing and category
management are increasingly important.
Companies now focus on not only costsavings but also automating low-value
spend, as well as managing the demand ofinternal stakeholders for value creation.

COMPANIES DRAMATICALLYRESTRUCTURING SUPPLY CHAINS SEEK
TECH-SAVVY TALENT
Supply chain businesses are working hardto keep up with digital disruptions in theindustry. To improve performance andinnovation, companies are seeing value inradically restructuring their supply chainsand operations. Candidates skilled in data
analytics, blockchain technologies,
machine learning and AI will therefore bein high demand.
Furthermore, the logistics industry isfacing a challenge in the incorporation oftechnology in their core operations.
Employers therefore require professionals
who have a grasp of IT systems in logistics
operations and possess a strong drive forinnovation and creative thinking to movethe industry forward.

“Amongst start-up
ﬁrms, Singapore
remains a primary hub
for companies looking
to establish theirregional procurement
functions.”
79% of CPOs surveyed
believe digital disruption
will not signiﬁcantly disrupt
the organisational role ofprocurement.

Source:KPMG / Reboot Procurement released in 2018

PROCUREMENT & SUPPLY CHAIN
PROCUREMENT
Chief
Procurement
Officer/Headof Procurement

Procurement
Manager

Category
Manager

Buyer

Mainland China

700 - 1,500

400 - 600

250 - 450

150 - 250

Hong Kong

1,020 - 2,000

420 - 720

600 - 780

390 - 500

Japan

20 - 35

8 - 13

8 - 13

5-7

Malaysia

300 - 480

130 - 195

104 - 156

52 - 91

Singapore180 - 300

80 - 120

80 - 110

39 - 65

Sourcing
Director

Sourcing
Manager

Purchasing
Director

Purchasing
Manager

700 - 1,500

300 - 600

700 - 1,500

400 - 600

Hong Kong

720 - 1,200

420 - 600

720 - 1,020

360 - 600

Japan

13 - 15

8 - 1313 - 15

8 - 13

Malaysia

420 - 660

130 - 260

300 - 480

110 - 170

Singapore

200 - 250

80 - 120

156 - 220

70 - 90

WAREHOUSING/DISTRIBUTION

Operations
Manager

Distribution
Manager

Transport
Manager

Warehouse
Supervisor

Mainland China

300 - 600

400 - 500

360 - 420

180 - 300

Hong Kong

420 - 600

420 - 600

360 - 520

300 - 420

Japan

8 - 10

7-9

7 - 10

5-7

Malaysia

108 - 200

117 - 200

195 - 200

55 - 72

Singapore

65 - 91

75 - 115

65 - 95

52 - 60

Warehouse
Manager

Stock/
Inventory
Controller

Mainland China

240 - 400

144 - 200

Hong Kong

360 - 560

240 - 300

Japan

8 - 10

5-7

Malaysia

96 - 156

65 - 91

Singapore70 - 85

24 - 43

THIRD PARTY LOGISTICS

Operations
Executive

Operations
Manager

Sea/OceanFreight
Manager

Air Freight
Manager

Key AccountManager

Mainland China

80 - 200

200 - 400

180 - 400

180 - 400

144 - 400

Hong Kong

240 - 420

300 - 480

420 - 600

420 - 600

360 - 480

Japan

3.5 - 5

6.5 - 87 - 10

7 - 10

7 - 10

Malaysia

36 - 72

84 - 120

104 - 132

104 - 156

130 - 180

Singapore

33 - 48

65 - 90

60 - 90

60 - 90

65 - 130

Mainland China

SUPPLY CHAIN

NOTES• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 113

PROCUREMENT & SUPPLY CHAIN
SUPPLY CHAIN
TRANSPORT

Transport
Operations Manager Manager

Transport
Coordinator

Mainland China

250 - 400

200 - 350

80 - 130

Hong Kong

360 - 540

360 - 540

240 - 340

Japan

8 - 10

7 - 10

4.5 - 6

Malaysia

78 - 143

75 - 104

30 - 58

Singapore

65 - 90

65 - 90

40 - 55

Fleet
Manager

Fleet
Controller

Import/Export Clerk

Trade
Compliance Manager

Mainland China

180 - 300

144 - 216

96 - 144

420 - 600

Hong Kong

360 - 480

420 - 540

180 - 240

480 - 720

Japan

5 - 7.5

4.5 - 6

3.5 - 6

8 - 11

Malaysia

109 - 260

26 - 52

26 - 52

195 - 312

Singapore

52 - 65

52 - 65

33 - 48

78 - 169

SUPPLY CHAIN

Supply Chain
Supply Chain Analyst Manager

Supply Chain
Planner

Order Fulﬁlment

Mainland China

130 - 240

240 - 600

130 - 240

110 - 190

Hong Kong

264 - 360

540 - 780

390 – 520

325 - 480

Japan

7-9

8 - 137-9

5.5 - 7

Malaysia

42 - 66

117 - 220

50 - 10452 - 78

Singapore

40 - 60

80 - 130

40 - 60

36 - 50

Demand Planner

Materials Manager

Logistics Manager

Supply Chain
Director

Mainland China

130 - 190

240 - 500

200 - 600

700 - 1,500

Hong Kong390 – 520

325 - 520

480 - 660

780 - 1400

Japan

7.5 - 9.5

7 - 10

8 - 1214 - 18

Malaysia

52 - 114

120 - 195

104 - 216

240 - 480

Singapore48 - 72

72 - 96

70 - 100

150 - 240

NOTES
• Salaries are represented in local currencies

114 | 2019 Hays Salary Guide - Asia

PROPERTY

2019 IS EXPECTED TO MAINTAIN LASTYEAR’S STAGGERING RISE OF THE
COMMERCIAL REAL ESTATE INDUSTRY
Although government regulations caused
a decline in the Mainland China residential
market during 2018, the commercial
market showed a contrasting upward
trend. After nearly two years of sluggish
growth, Mainland China’s commercial realestate industry is now experiencing a
towering recovery.
In particular, the performance of theproperty sector in the first-tier cities isoutstanding, with the introduction ofcommercial land into the market. As aresult, the development of newcommercial assets is expected over the
next three years. At the same time, foreign
capital funds invested in a high volume ofcommercial assets during 2018, and thetransformation of stock assets will remain
a notable trend in 2019.
GOVERNMENT RENEWS SPENDING
PRACTICES, AND CANDIDATES WITH
INVESTMENT EXPERIENCE DESIRED
As the Chinese government reboots aseries of major urban-infrastructure
projects following a year-long hiatus, weforesee heightened activity in civil
construction over the next three to five
years. In the long run, Mainland China will
see rapid development in urban renewal,
shared office spaces and industrial parks.
In general, candidates with businessdevelopment or investment experience
continue to be the most sought after
within Mainland China’s property market.
Conversely, while candidates in the asset
management sector — such as leasing andfacility management — may not be indemand in the immediate future,
improving market conditions may result in
an increased need for such talent in the
Chinese property market.

HONG KONG
SOUTHERN MAINLAND COMPANIESSEEING HONG KONG AS A LOCATION OF
PROMISE IS RESULTING IN MULTIPLE
CANDIDATE OPPORTUNITIESThe private sector remains strong for bothcommercial and residential developments,

meaning large Hong Kong firms continue
to thrive.
We are also seeing increasing competition
from Mainland China as companies,
particularly those from the southern
region, have identified Hong Kong as anarea for potential growth. As such, there
continues to be a wealth of opportunities
in Hong Kong’s property market forcandidates with a proven track record ofdelivering high-value development
projects across both public and private
sectors.
CANDIDATES REQUIRED FOR HIGH-END
RESIDENTIAL PROJECTS
Consultancies and building material
companies that specialise in residential
design and architectural space will also
flourish in 2019. Although there is adecrease in large-scale projects, aconsiderable volume of high-end
residential projects is stimulating theindustry, leading to a heightened demand
for talent in this area.

JAPAN
GOVERNMENT PRESSURE TO DEVELOPJAPAN’S TOURISM INDUSTRY IS
ATTRACTING FOREIGN INVESTORS TO
THE MARKETThe business process outsourcing (BPO)
sector, which provides facility management(FM) and project management (PM)services, had the highest magnitude of
growth in 2018. Several global companies
have begun establishing themselves inJapan as a result of the continued
expansion of the market.
Outsource and vendor-side FM and PM roles
have been consistently outnumberingin-house roles. In addition, outsourced
positions are generally seen at junior to
mid-levels while in-house openings are
typically at mid to senior levels. Salaryranges and job vacancies in the Japaneseproperty market remained stable in the past
year, and we expect this to continue in 2019.
REGULATORY CHANGE BOOSTINGFOREIGN INVESTMENT IN 2019 AND
BEYOND

in the hospitality sector. With the passingof the Integrated Resorts Act, overseas
resorts and entertainment companies are
beginning to eye Japan as a tremendous
business opportunity. This development
comes at a time of continued tourism
promotion and the impending arrival of
the 2020 Olympic Games, making Japan adesirable market for overseas investors.
Notably, this growth is expanding beyond
Tokyo, with areas such as Hokkaido andOkinawa particularly benefitting from thetourism push. As a result, a growing
number of global hotel chains are
partnering with Japanese construction
firms, and we expect this trend to continue
in 2019.
Furthermore, we also anticipate thecontinued need for bilingual candidates
with experience in the office property
market, especially in 2019. Candidates withstrong analytical backgrounds inacquisitions and asset management arealso highly sought after.
BILINGUAL TALENT CAN EXPECT TO
RECEIVE COMPETITIVE OFFERS
Fluency in Japanese and English also
continues to be highly desirable forbrokers and leasing professionals at mid tosenior level, due to the need to liaise withoverseas clients. Candidates who have anadditional Japanese Real Estate License(takken) are also preferable.
To attract local, bilingual talent, companies
are offering competitive compensationand incentive packages. As such, salaries
will remain strong in Japan’s property
market in 2019.

“Multiple opportunities
for candidates in Hong
Kong who have a
proven track record ofdelivering high-value
development projects.”

The continued drive by the Japanese
government to boost tourism in the
country will also see a need for experience2019 Hays Salary Guide - Asia | 115

SALARY INFORMATION: PROPERTY

MAINLAND CHINAPROPERTYSINGAPORE
MARKET-COOLING REGULATIONSPROVED HINDRANCES TO DEVELOPERS
IN 2018 AND FUTURE JOB SECURITY IS
WEAK, THOUGH EN BLOC ACTIVITIESPUT A POSITIVE SPIN ON SINGAPORE’S
PROPERTY INDUSTRY
The beginning of 2018 saw significant
activity in the residential property market
following the relaxation of markettempering measures, leading to more
successful en blocs compared to theprevious two years.
However, July saw the implementation ofa new set of cooling regulations that
included raised Additional Buyer’s Stamp
Duty (ABSD) rates and tightened Load-toValue (LTV) limits on residential property
purchases. These hindrances to developers
were compounded further by restricting
measures in the form of a five per cent
ABSD levied when purchasing en bloc
properties for redevelopment purposes.
2019 EN BLOC ACTIVITY TO IMPROVEDEVELOPER FORTUNESSALARY INFORMATION: PROPERTYPrevious predictions had it that theconstruction and property markets would
bottom out by the end of 2018, presenting
new opportunities for the market well into

the coming year. However, with the fresh
set of cooling measures, this will perhaps
be proven otherwise. The silver lining in
Singapore’s property market is theconfirmed slew of en bloc activities thattilt in the favour of developers.
From a recruitment perspective, we see agreater need for talent with regional
experience as local companies look to
expand their horizons.
There is also a shift in terms of whereproperty management roles should bebased, with some companies offshoring
their operations to lower-cost countries/
regions, potentially posing a challenge forroles in this area.

“Increasing needfor candidates in
Singapore to possess
regional experience.”

Affluent Chinese home buyers
are investing more in Southeast
Asia due to western markets
imposing capital curbs.

COMPANY UNDERCUTTING TACTICS
MAKE FOR LEAN EMPLOYEE PRACTICESAND WEAK JOB SECURITY
We do not expect progress in the property
management sector for 2019, ascompanies endeavour to make the bestuse of existing resources. With the stiffcompetition in the market of late, job
security for employees in the property
market may be weak as companies
undercut one another when vying for
facilities management contracts, resulting
in leaner operations.

Source:South China Morning Post, November 2018

Manager(2-5 yrs)

Manager(5-10 yrs)

SeniorManager

Head of Property GM Property
Management
Management

Mainland China

150 - 300

250 - 400

250 - 400

500 - 800

600 - 1,000

Hong Kong

240 - 360

360 - 480

450 - 900

900 - 1,200

1,250 - 1,850

Singapore

42 - 60

60 - 85

85 - 120

130 +

150 +

Centre Manager Centre Manager Facilities Mgr- Retail- Retail- Soft Services(5-10 yrs)
(10+ yrs)(2-5 yrs)

Facilities Mgr- Soft Services(5-10 yrs)

Facilities Mgr- Soft Services(10+ yrs)

Mainland China

300 - 500

350 - 600

150 - 240

200 - 350

300 - 500

Hong Kong

440 - 670

670 +

240 - 360

360 - 600

600 - 960

Japan

N/A

N/A

5-7

7 - 10

10 +Singapore

60 - 85

85 - 120

48 - 60

60 - 110120 +Facilities Director Leasing Manager Leasing Manager Senior Leasing(10+ yrs)(2-5 yrs)(5-10 yrs)
Manager

Leasing
Director

Mainland China

500 +

150 - 260

260 - 450

400 - 600

700 +Hong Kong

960 +

250 - 400

400 - 650

650 - 800

800 - 1,300

Japan

15 +

4-8

8 - 1414 - 18

18 +Singapore180 +50 - 65

65 - 96

96 - 132

140 +

NOTES
• Salaries are represented in local currencies

116 | 2019 Hays Salary Guide - Asia

PROPERTY
Asset Manager(2-5 yrs)

Asset Manager(5-10 yrs)

Senior AssetManager

Asset Director

Mainland China

250 +300 - 500

400 - 600

600 +Hong Kong

270 - 415

450 - 750

750 - 1,200

1,200 - 2,500

Japan

6-9

8 - 1210 - 15

15 +Singapore

55 - 80

80 - 120

100 - 144

145 +Property
Investment
AnalystProperty
Investment
Manager

Property
Investment
Associate

Property
Investment
Director

Mainland China

200 - 400

300 - 500

500 - 700

700 +Hong Kong

340 - 550

550 - 900

900 - 1,250

1,250 +

Japan

6 - 10

8 - 1313 +18 +Acquisitions
Acquisitions
SeniorSurveyor/
Surveyor/
Acquisitions
Acquisitions
Manager (2-5 yrs) Manager (5-10 yrs) Surveyor/Manager Director
Mainland China

150 - 250

250 - 500

500 - 800

900 +Hong Kong

320 - 420

420 - 800

800 - 1,000

1,000 +

Japan

6 - 10

10 - 15

15 - 18

18 +Quantity Surveyor Quantity Surveyor Senior Quantity Quantity Surveyor- Unqualiﬁed- Qualiﬁed
Surveyor- Qualiﬁed(2-5 yrs)(5-10 yrs)
- Qualiﬁed
Director
Mainland China

120 - 200

150 - 350

400 - 600

700 +Hong Kong

300 - 400

400 - 600

600 - 800

800 +

Japan

4-6

5-8

8 - 10

N/A

Singapore48 - 72

72 - 105

95 +

135 +

PROPERTY - CLIENT SIDE

Project
Coordinator

AssistantSeniorProjects
Project Manager Project Manager Project Manager Director

Mainland China

180 - 240

180 - 300

325 - 550

600 - 800

780 +Hong Kong

240 - 360

360 - 480

480 - 720

720 - 1,200

1,200 +

Japan

3-5

5-7

7 - 11

11 - 14

14 +Singapore48 - 72

72 - 10278 - 120

110 - 200

180 +

NOTES
• Salaries are represented in local currencies

2019 Hays Salary Guide - Asia | 117

SALES

MAINLAND CHINADESPITE MODEST SALARY LEVELSACROSS MOST OF THE SECTOR,
E-COMMERCE IS PROVING TO BE AN
ENDURINGLY POPULAR AREA FOR
CANDIDATESThe e-commerce industry in Mainland
China grew rapidly throughout 2018, andwe saw huge demand for managementlevel candidates, a situation that is
expected to continue in the coming year,
also. Although salary-levels at mature
e-commerce platforms remain moderate, it
is still highly attractive for applicants
across a number of industries as theprestige of being associated withcompanies in the sector is high.
With this combination of high demand andstrong interest, highly-resourcefulplatforms are open to reviewing
candidates from other sales-based sectors,
as they have well-developed upskilling
strategies in place.
FOR HIGHLY-SKILLED E-COMMERCE
CANDIDATES, SALARIES MAY DOUBLESALARY INFORMATION: SALES

Also creating a number of job
opportunities for sales professionals are
the exciting start-up firms that are
expected to initiate operations within
Mainland China in 2019. In addition,
foreign e-commerce platforms are also
making their presence felt, creating further
competition for sales talent.
Preferable for these organisations areexperienced, well-resourced sales
managers with skills that may be
immediately applied. In order to attract
these exemplary candidates, companies
are willing to offer up to 100 per centsalary increments, sometimes evenproviding company shares in addition.
COMPANIES LOOK TO FUTURE TALENTPIPELINES
As was seen in 2018, for employers fromtraditional industries such as FMCG andretail, losing candidates to e-commerceand new technology industries is anincreasing threat. Good successor planning
is a practical tactic with which to remedy
this challenge, leading most companies toincrease their annual budget for campus
recruitment in order to build their own
talent pipelines, though this is unlikely to

118 | 2019 Hays Salary Guide - Asia

fix talent issues in the immediacy. To that
end, companies are also increasing salarybudgets in order to attract e-commercecandidates who bring with theminnovative and creative sales solutions.

HONG KONG
WITH A PROGRESSIVE MARKET, SALESWILL LIKELY MOVE AWAY FROMTRADITIONAL AREAS TOWARDSINNOVATION AND TECHNOLOGY
We expect to see a continued growth in
the number of sales and businessdevelopment roles within the technology
space as companies require high-value
individuals who can penetrate newmarkets as the technology evolves. 2019’s
market will move fractionally away fromtraditional technologies and focus further
on innovative areas such as artificial
intelligence, fintech, mobile payments andquantum computing, and businesses will
require candidates who can combine
technical aptitude with strong network
connections. Those with exceptional
networks and a proven track record ofsuccess will be able to claim the highestsalaries.
E-COMMERCE CONTINUES ITS RISING
IMPORTANCE OVER TRADITIONALRETAIL
This technological change continues into
the retail space where we see a further
shift away from traditional retail and into
the e-commerce space. This has caused anincrease in parallel markets such as
payments and financial transactions where
there has been a dramatic upswing in
demand for sales professionals.
With Hong Kong’s close proximity to themainland, it is perhaps unsurprising that
Chinese companies are shifting their focus
to the region, and we are currently seeing
them do so in increasing numbers. Thisconsistent trend is leading to arequirement for candidates with Mandarin
language skills.
NETWORKING IS AS KEY AS AMBITION
The financial and professional services
industry continues to grow as firms lookfor driven and ambitious candidates who
can assess potential growth markets anddevelop success strategies. Meanwhile, thelegal, consulting and advertising
specialisms continue to provide sales andbusiness development professionals withthe highest salaries across the market.
Consistency is the forecast within theindustrial market, as the need for wellnetworked sales candidates withinbuilding services and materials continues.
As ever, we are seeing industrial
companies use Hong Kong as a regionalbase due to the accessibility of the
manufacturing base and mass market of
Mainland China.

JAPANJAPAN’S MARKETS ARE CONTINUING TO
IMPROVE, LEADING TO A REQUIREMENT
FOR ‘HUNTER’ SALES PROFESSIONALSWith the advertising technology and startup specialisms so strong in 2018 we saw ahigh demand for country manager, andexecutive director-level roles through theyear, and positivity is expected to be verymuch the theme for 2019.
Consequently, there is high demand in a
number of areas positively impacting
2019’s hiring rate, with hunter sales andaccount management candidates
particularly sought after. Although
turnover here is higher than in othermarket sectors, candidates are more likely
to receive offers of higher salaries andflexible working conditions.

“Foreign e-commerce
platforms are
beginning to ﬁnd theirfeet in Mainland China
creating opportunities
for sales talent.”

SALESIn the manufacturing and automotive
space, the market is expected to remain
stable with various mid to senior-level
executive job roles available. Candidates
with excellent networks, technicalknowledge, strong hands-on sales
backgrounds and industry experience arein high demand.
However, we have seen a stark disparity
between the demand and offers in an
aging market, where candidates lacknecessary language skills and are out of
touch with technological advancement.
Most companies still use strict salary grids
which limit flexibility and attractivenesswhen it comes to the hiring of qualified
bilingual candidates. Unfortunately, one
area of shortage in sales is in native
Japanese-speaking talent.
SURGING TECHNOLOGIES AND A SWITCHFROM PRODUCTS TO SOLUTIONSPerhaps above all, it is the technology
sector which is primed to be theoutstanding area of performance for 2019.
Software, hardware andtelecommunications companies areinvesting heavily in Japan with RPA, AI,
machine learning, cloud and CMR all being
huge global topics.
As technologies become increasingly
complex and business models transferfrom packaged products to tailoredsolutions, candidates experienced inconsultative sales will be at a distinct
advantage. Working conditions andcompensation packages remain attractive,
enabling companies to secure the top
talent in the industry.

MALAYSIAAS DISRUPTIVE TECHNOLOGIES LEAD
THE WAY, OIL PRICE RISES CREATE
DEMAND FOR SENIOR-LEVEL POSITIONSThere was substantial excitement amongst
network providers in 2018 following theroll out of 5G network tests; however, it
has been the areas of AI and IoT that havebeen the primary topics of concern for
Malaysia. As a number of companies arestill new to these concepts they requiretalent that has business development
experience and can obtain and growpartnerships with other operators andinfluence businesses across the region to
adopt this technology.
SOFTWARE AND SERVICES TO BE EVEN
MORE POPULAR IN 2019
With the rapid increase of cloud solutionsin the market, the software and services
industries are two of the most in-demand
technology specialisms. As a result, weforesee a much greater demand in 2019
for sales candidates experienced indealing with IT software such as CRM and
ERP solutions.
OIL MNCS LEAD THE HUNT FOR SENIORLEVEL SALES AND BUSINESSDEVELOPMENT TALENTThe upward trend in crude oil prices has
strengthened expectations for theawarding of more offshore projects in
2019, meaning that recruitment will pickup for senior-level service sales andbusiness development positions, especiallyfor MNC oil and gas consultancies.
The automotive industry made acomparatively strong comeback in 2018.
As for the year ahead, it is presumed that
there will be demand in the commercial
vehicle segment, and in the passenger car
sector there will be a steady requirement
for sales talent coming from Asian car
brands, with recruitment for sales
positions picking up early in 2019.

SINGAPORE

channel experience, and employers in thisindustry want to see experience of thiskind on CVs.
ENTRY-LEVEL INSIDE SALESPROFESSIONALS TO BENEFIT FROM A
YEAR OF SALARY IMPROVEMENT
The construction materials and industrial
automation industries continue to be ones
to watch in 2019 with increasing demand
for sales talent over the past year. In
addition, now is a great time to be an
inside sales professional, particularly
within the wider technology space. New
companies coming into the market are
beginning to have a positive impact onsalaries at entry level.
Furthermore, high performing companies
continue to recognise the importance of amulti-channel sales strategy, placing apremium on candidates at senior levelwith dynamic and varied sales experience.

“There is concern
over the lack oftechnological skills
and knowhow
candidates havein Japan.”

RETAIL AND FMCG AREAS REMAINSLUGGISH, BUT THE EDUCATION SECTORIS BOOMING
The education sector was an area ofoutstanding growth throughout 2018, andwe have observed a huge spike in demandfor business development and accountmanagement professionals withexperience in selling training andeducation products and services.
Sluggish overall growth in the retail and
FMCG space persists, but there has been amarked increase in new consumer brands
looking to penetrate the Singapore
market, boding well for 2019. The
migration from high street to online
continues to alter the dynamic of sales

2019 Hays Salary Guide - Asia | 119

SALARY INFORMATION: SALESA PRONOUNCED DIVERGENCE BETWEEN
DEMAND AND SKILLED, IN-TOUCHTALENT

SALESRETAIL

Merchandising
Manager

Visual Merchandising
Manager

Service Delivery
Manager

Mainland China

350 - 700

300 - 550

N/A

Hong Kong

480 - 750

420 - 720

380 - 540

Japan

6-9

5-8

6-9

Malaysia

84 - 150

60 - 84

110 - 140

Singapore

45 - 100

50 - 100

N/A

Category Manager

Retail Manager

Mainland China

500 - 800

250 - 700

Hong Kong

400 - 600

720 - 840

Japan

8 - 10

6 - 10

Malaysia

110 - 150

72 - 96

Singapore

65 - 120

60 - 100SALESCountry Manager

Regional Sales Director

Sales Director

Mainland China

1,000 - 2,000

700 - 1,200

600 - 1,000

Hong Kong

1,050 - 2,000

1,000 - 1,600

840 - 1,200

Japan

20 - 50

15 - 30

15 - 25

Malaysia

350 - 550

300 - 530

250 - 480

Singapore

180 +

180 +

150 +

Sales Operations
ManagerBusiness Development
Manager

Mainland China

260 - 500

300 - 700

Hong Kong

480 - 720

480 - 720

Japan

8 - 158 - 15

Malaysia

144 - 180

72 - 144

Singapore

80 - 140

80 - 140

NOTES• Salaries are represented in local currencies

120 | 2019 Hays Salary Guide - Asia

RECOMMENDATIONSFOR EMPLOYERS
A HAPPY WORKFORCEIS A BALANCING ACTIMPROVE, DEVELOP AND
PROMOTE YOUR STAFF

42 per cent of employees reported that work-life balance isthe key factor for why they stay with their employer, thenumber one reason for the third year running. However,
only 13 per cent stated that their work-life balance was‘very good’, down from 15 per cent in 2018. The primary
flexible working practices that employees see as importantwhen seeking a new role are home or mobile working (31per cent) and flexitime, so if you want to ensure that your
top talent remains your top talent, these could be theoptions to offer. And if you are one of the 30 per cent ofcompanies that does not promote their flexible options toall staff, get the word out there.

65 per cent of companies stated that the primary reason
behind departmental or organisational restructuring waschanging business needs, something that they do at great
expense. Perhaps a more cost-efficient way is to ensurethat the talent within the organisation is prepared forindustry developments and ready to adapt to whatever
the future may hold. Key to this is the training andupskilling of your employees, with 45 per cent oforganisations stating that a lack of training andprofessional development was behind skills shortages. Be
aware of what skills your organisation requires – whether
it be problem solving (75 per cent), team working (70 percent) or hard skills such as project management (55 percent) – and improve your staff accordingly.

When it comes to future salary increment expectations
there is a consensus between employers and employeesthat raises in the coming year will be above three per centbut less or equal to six per cent (25 per cent and 38 percent respectively). Furthermore, at a combined 61 per
cent, candidates are either satisfied or very satisfied with
their packages, up from 43 per cent in 2018. However, as
the most often cited reason for seeking new employment
is improved salary and benefits, you should perhaps
explore other avenues that would enable you to retain
your staff and attract new talent. One tactic could be theimprovement of bonus structures, as bonuses for all staff
dropped last year when compared to 2018’s standings. In
addition, with most bonuses becoming increasingly
related to team performance over the past three years(34, 36 and 43 per cent respectively) consider making
allowances for superlative talent.

RETAIN YOUR AMBITIOUS
EMPLOYEES WITH
COUNTER-OFFERS
In 2019’s vibrant economy, where opportunities arecommonplace, there is a strong likelihood that yourambitious employees will be exploring their options.
Talent retention should be foremost on your mind, withcounter-offers often a necessary strategy. Only ten percent of organisations stated that it was company policy
to counter-offer staff when they resign, and though the
majority sometimes do so (61 per cent) that means that
more than one fifth do not. Of those that do makecounter-offers, only 20 per cent of employees did notstay, which is more than half that of the previous year (43per cent), proving the effectiveness of the approach. Of
course, some organisations may not have the requisite
budgets or have salary strict structures that may prohibit
increased offers. In these instances, companies caninstead offer new challenges and clearer career
progression paths, both of which were high on employee
lists for why they sought new roles.

BROADEN THE SKILLS IN YOURORGANISATION BY DIVERSIFYINGYOUR WORKFORCE
With workplace diversity a major talking point ininternational business, it is somewhat surprising to seethat companies have reported only a single percentage
point uptick in the implementation of formal diversity
practices since last year, with only 52 per cent doing so.
Furthermore, adherence to these practices has also
dropped, as organisations stating that policies were welladhered to fell from 22 to 15 per cent year-on-year. It is
well reported that diversity in the workplace is a major
instigator of creativity and innovation, the antithesis of
hive-mind thinking. As companies increasingly look to
employ a broad spectrum of abilities, particularly in hardskills areas, it is important that they utilise a wider rangeof thought and backgrounds.

RECOMMENDATIONS FOR EMPLOYERSATTRACTING THE BEST TALENTIS A DEFINITE BONUS

RECOMMENDATIONSFOR EMPLOYEESFUTURE-PROOF YOURPOSITION THROUGH UPSKILLINGTEMPORARY POSITIONS COULD
BRING YOU PERMANENT GROWTH

Some 67 per cent of employees believe that their current
skills will still be in demand five years from now, animpressive increase on last year (54 per cent). However,with 64 per cent of organisations claiming that skills
shortages impacted their productivity, this may not, infact, be the case. A large proportion of employees (37 percent) spend just one to two hours a week enhancing theirprofessional skills, with a further 21 per cent engaging inno training at all. The world is changing dramatically withtechnologies such as AI, digitalisation and cloud being
implemented in most industries. Of course, thesetechnologies are unlikely to take over from people in theworkplace entirely, but employees will be expected tounderstand them and know how to interact with them.
Take some extra time to learn how technologies may
affect your industry, follow key leaders on social media,
undertake accreditations, and make your employer awareof the skills you have obtained.

If you are unhappy in your role, and permanent hires inyour sector fail to materialise, try looking to thetemporary and contract sector. Since 2017 the trend forcompanies to hire temporary staff on a regular, ongoingbasis in Asia has risen year-on-year (25, 29 and 33 percent), which means there is a wealth of opportunities
available for individuals who are willing to take a risk on
temporary contracts. Not that there remains much of arisk, as 25 per cent of companies expect to increase
temporary hires, and 62 per cent are planning to maintaincurrent levels. And while risks are relatively few, theadvantages are plenty as contracting enables you to gain
wider industry experience, make new contacts anddevelop new skills.

KNOW YOUR WORTH
AND ASK FOR MORE

RECOMMENDATIONS FOR EMPLOYEESOverall, employees are relatively happy with their salaries,
with 56 per cent claiming that they are satisfied with theircurrent compensation package. However, as only five percent stated that they were very satisfied, there is room for
improvement. With companies having seen increased
activity levels this year (68 per cent) and expecting local
economies to strengthen (36 per cent) you may believethat your position is worth more. Although only 36 per centof employees asked for a raise last year, of those that asked
almost two-thirds were successful. However, you should be
prepared for rejection and have a back-up request to hand:
perhaps additional annual leave, more flexible working
conditions or improved career progression.

OPPORTUNITY IS OUT THERE,SEEK IT OUT
Predictions for next year’s business activity are positive,
with 69 per cent of organisations expecting
improvements. As a result, permanent staff levels are set
to increase in 2019 (49 per cent), which means that there
are a number of positions opening up all around you.
Keep an eye on your company’s internal jobs board,maintain positive contact with line managers within yourorganisation and keep your CV and accreditations up to
date. Also, be ready to look outside of your own company
by attending networking events, making new contacts
and talking to recruitment specialists.

PERFORMING FOR PROGRESSION
One of the major considerations for employees seeking
new roles is improved career progression (45 per cent).
However, progression is a two-way street, and it isimperative that your performance levels deserve theprogress you wish. With companies citing employee
performance as the primary criterion for promotion (64per cent) for three years in a row, it is evident that if you
want that career path, you have to earn it. In order to do
this, take advantage of the aforementioned upskilling
opportunities to make sure that you are up to date withthe requirements of your role. Also, be aware of yourcompany needs and goals and see how you can go about
fulfilling them. Furthermore, keep records of yourachievements and ensure that line makers and key
gatekeepers to progression are aware of them.

ABOUT HAYS IN ASIA
Hays is the world’s leading professional and skilled
recruitment company operating across 34 operating
markets.

5,000+

We continue to strengthen our position in Asia operatingin six markets across the region from 12 offices. Our
headcount continues to grow as we aim to help
substantially more companies achieve their goals andsupport more people to ﬁnd the right jobs to transformtheir lives.

People placed inpermanent jobs each year

We are accredited with the world-leading ISO 9001:2015
certiﬁcation in all our operational markets in Asia including
Mainland China, Hong Kong, Japan, Malaysia and Singapore.
Our extensive candidate database allows our consultants
to search millions of candidates globally using elastic
search technology to ﬁnd the best people in the fastest
timeframe. In addition, our exciting collaboration with
LinkedIn® provides real-time data on the active candidate
market, behavioural trend analysis for future movers andan additional talent pool of millions of potential candidates.
We are proud to be the number one most followed
recruitment agency on LinkedIn with 2.5+ million followers.

1,000+
Temporary workers paideach week

700+
Employees in Asia

12
Offices across the region

12
Years of experience
Proud award winners
Hays Greater China certiﬁed as one of the ‘Best Companies to Work® For in Greater China’ - 2018
Hays Hong Kong certiﬁed as one of the ‘Best Companies to Work For® in Hong Kong’ - 2018
Hays Singapore certiﬁed as a ‘Great Place to Work® in Singapore’ - 2018
Best Large Recruitment Company to Work For | Hays Japan - Recruitment International 2018
‘Best Accountancy & Finance Recruiter, Asia’ - CFO Innovation Awards 2012, 2013, 2014, 2015, 2016, 2017 and 2018
Liepin Extraordinary Hunter award | Hays Mainland China - 2016, 2017 and 2018
LinkedIn’s #1 Best Company Page - 2017 and 2018
‘Best International Recruitment Firm’ - HRM Asia Reader’s Choice Awards 2016 and 2017
‘RPO Provider of the Year’ in Japan - Recruitment International Asia Awards - 2015 and 2016

CONTACT US
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