Finance managers, compliance managers, and trade support managers are roles in hot demand by Hong Kong’s financial services sector, according to Robert Half’s survey of 75 CFOs within financial services in the city.
The survey results also bring good news to finance executives in the sector. The overwhelming majority (100%) of CFOs within the financial services sector plan to attribute pay rises to an average of 13% of their staff in 2018, with the average salary increase expected to be 7.5%, said Robert Half.
The generous expected pay increases in the survey results sit well above Hong Kong’s average annual wage growth of 3.8% according to government statistics, the recruitment agency noted.
In addition, 97% of Hong Kong CFOs in financial services are willing to raise the initially-planned starting salary by an average of 8% to secure top financial services talent, Robert Half observed.
“Salary remains a determining factor in the Hong Kong employment market. While there are many other elements that make up an attractive remuneration package, many professionals working in the competitive financial services industry accept job offers based on financial incentives,” said Adam Johnston, Managing Director of Robert Half Hong Kong.
“Candidates within the sector know they are firmly in the driver’s seat when it comes to salary negotiations, so companies need to be thoughtful and creative when determining compensation, thinking about individual motivators to secure their preferred candidate, or else risk losing them to the competition,” he advised.