With the recruitment market gradually improving, most corporations in Hong Kong are increasing headcount and intend to increase salaries.
According to the 2010 Salary Guide released by recruitment consultant Hays, the beginning of a steady recovery is already taking place. Nigel Heap, Managing Director of Hays Asia Pacific, said, ¡§There is new optimism in the market and many employers have indicated they will increase staff levels in 2010.¡¨
This guide shows the results of a survey covering more than 650 employers and recent placements made by Hays offices in Asia. In most job sectors in Hong Kong, such as banking & finance, accounting, IT, sales & marketing, construction & engineering, demand for candidates is high, but as a result of the financial crisis, employers are more cautious in hiring and may take more time in interviewing candidates in order to find the most suitable talent. One-third of the employers intend to give a pay rise ranging from 3% to 6%.
In accounting, demand for professionals within audit, compliance, financial reporting and internal controls is high. If there is pay rise, 5-10% is the standard. Yet, due to the increased availability of candidates, job seekers are advised to be realistic in terms of salary expectations.
In banking, vacancies in corporate finance, structured finance, corporate banking, and wealth management have picked up. Increases in salary, if any, will be averaging 10%.
For IT, demand for system analysts was high towards the end of 2009. Companies have become more specific in their requirements, and look for candidates who can enhance efficiency and productivity of the corporation while reducing costs. Salaries are expected to increase, ranging from 10% to 15%.
As for sales & marketing, candidates in retail operations, corporate communications and strategic sales / business development were in high demand towards the end of 2009. Employers look for candidates with trilingual language skills, regional exposure and relevant experience in the Chinese market. No significant pay rise is expected because of availability of candidates.
In construction and engineering, as large infrastructure projects will kick off in 2010, demand for experienced engineers with exposure to rail transport and infrastructure-related projects will increase. Candidates with Chinese and English language skills, and those showing job stability and commitment are favoured by employers.
