The growing number of merger and acquisition activities in China will lead to a demand for finance professionals such as Chief Financial Officers, Financial Analysts and Accountants this year, according to Kelly Services' "2013 Salary Guide Greater China."
"Many small and medium sized foreign companies will be looking to strengthen their market positions by recruiting finance managers and controllers," says the report. "As the retention of key employees become more important, we will see financial incentives being offered. In such circumstances, salaries will increse between 10 to 20 percent, while changing jobs could result in a 20 to 40 percent increase over a previous employer's compensation."
The report notes that candidates with CPA, ACCA and/or CFA credentials and a proven track record of performance will continue to be popular.
A CFO with 12 to 18 years of work experience can expect to receive an annual base salary of RMB850,000 to RMB1.3 million (US$136,000 to $208,452) if they land a job in Tier 1 cities this year or RMB450,000 to RMB650,000 ($72,158 to $104,228) in Tier 2 cities.
A CFO with more than 18 years of experience can demand an annual base salary of RMB1.3 million to RMB2 million ($208,461 to $320,710) in Tier 1 cities or RMB650,000 to RMB800,000 ($104,228 to $128,309) in Tier 2 cities.
Finance Directors working in Tier 1 cities will earn RMB700,000 to RMB1 million ($112,300 to $160,439) this year while those in Tier 2 cities will make RMB500,000 to RMB700,000 ($80,221 to $112,293).
Candidates with overseas experience across the financial sector will also be in demand in 2013 as foreign banks and financial institutions continue to see China as a current investment destination to secure future growth and market share.