Towards A Digitised and Flexible Future:: Understanding Asia'S Rapidly Evolving Recruitment Trends

TOWARDS A DIGITISED
AND FLEXIBLE FUTURE:

UNDERSTANDING ASIA’S
RAPIDLY EVOLVING
RECRUITMENT TRENDS
The 2020 Hays Asia Salary Guide
hays.cn | hays.com.hk | hays.co.jp | hays.com.my | hays.com.sg

CONTENTS
Introduction 3
Market Overview & Trends 4

Salary Policy 6
Recruitment Trends 8
Economic Outlook 14
Employee Trends 15
Salary Information 18
Accountancy & Finance/Audit, Risk & Compliance 19
Banking & Financial Services 33
Construction & Engineering 43
Digital Technology 46
Education 53
Finance Technology 55
Human Resources 64
Information Technology 68
Insurance 76
Legal 81
Life Sciences 84
Manufacturing & Operations 89
Marketing & Digital 97
Office Professionals 101
Procurement & Supply Chain 104
Property 108
Sales 110
Recommendations
Employers 113
Employees 114
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 and
compilation 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.
INTRODUCTION
2019 may have taken little conservatism when approaching recruitment, too much
prevarication and the deal is often left undone.
an unexpected turn
Whilst candidates may be a more cautious in their approach
into uncertainty; as a to seeking new opportunities, their expectations in from
result organisations employment remain undimmed. They are still driving for
may want to ensure better pay packages, and seeking new challenges, always
on the lookout for a way to improve their career trajectory.
that in 2020, their This optimism is inspiring and sends a strong message to
focus is very much on businesses looking for the best talent in the market. At the
those things they can same time, the rapid pace of change, particularly within the
realm of digital transformation, will undoubtedly push more
control and determine. candidates to give their skillset a good hard look and
examine their relevancy and potential to upskill.
One of the greatest things about my three years as The third trend that stood out to me is the growing
Managing Director of Hays Asia, has been watching the acknowledgement of skill gaps, as well as awareness of its
constant evolution of recruitment in this vibrant region. impact on innovation. Unsurprisingly, digital skills such as
The last year has been a real exercise in expect the data analytics have topped the list of priorities for
unexpected, reminding organisations and candidates that employers, but soft skills such as problem solving and
they can never truly take their finger off the pulse. This is communication are catching up very quickly. Interestingly,
evident by the distinctly positive note on which 2018 many employers look to contracting or temporary workers
ended, and the more measured, deliberate tone that hiring to bring these highly sought-after skills to an organisation,
has taken this year as economies slow. marking an interesting shift in Asia as they start
A few interesting trends stood out to me in this year’s understanding the value of alternative recruitment models.
guide. The first is the growing caution from employers as Flexible recruitment solutions are certainly dynamics that
they prepare in response to less certain market conditions. both candidates and employers would do well to keep an
What has been interesting is that hiring activity in terms of eye on as this approach gains in popularity and adoption.
job volumes has remained fairly constant, processes are We hope the research in this report will interest you and
now taking longer which can present some challenges for help you find the direction you need, as Asia marches
both employees and employers. Candidate sentiment is also firmly towards yet another year of change.
a little more cautious, and where both parties approach the
hiring process with caution, the risk is that both Richard Eardley – Managing Director Asia
subsequently miss out. Whilst it makes sense to practice a
Survey highlights
Employers Employees
35% Intend to increase salaries by above

3% but less or equal to 6% in 2020 24% Expect their salary to increase
from above 3% but less or equal to 6%
43% Predict their permanent

staff levels will increase in 2020 62% Are looking for a new job due
to their salary/benefit package
Are restructuring their department/

61% organisation to keep up with changing
business needs
64% Believe their current skills will still be
in demand in five years’ time
Said home/mobile working is the

56% Say the most sought-after skills
are hard skills 57% No. 1 flexible working option they look
for in their job search
Say skill shortages had a negative

62% impact on the ‘productivity’ of their
organisation in 2019
43% Say work-life balance is the reason
why they won’t change jobs in 2020
21% See the general outlook for the local

economy as strengthening in 2020 35% Spend 1-2 hours a week enhancing
their professional skills
51%
OF EMPLOYERS SAY
THEY HAVE THE
TALENT NEEDED TO
ACHIEVE CURRENT
BUSINESS OBJECTIVES
MARKET OVERVIEW & TRENDS
2020 HAYS ASIA SALARY GUIDE
SURVEY FINDINGS
Despite optimistic projections, 2019 meted out Interestingly, the primary drivers for candidates looking out for
market uncertainties that had some industries new roles have remained unchanged for four years now: ‘salary
or benefit packages’ (62 per cent), followed by ‘seeking new
bracing for impact. Marked by continued digital challenges’ (48 per cent) and ‘lack of career progression’ (45 per
innovation and a slowing global economy, 2020 cent). This makes clear that companies must continue to deliver
is expected to be a period of measured hiring on pay packages and provide their employees with challenges and
and compensation where candidates must prove opportunities for growth if they are to attract the best talent. In
addition to these, the top reason why candidates stay with their
their worth and companies must match growing current employers is work-life balance (43 per cent), followed by
expectations to attract and retain them. salary or benefit package (40 per cent), and finally management
style and company culture (33 per cent). These drivers are a
continued trend from last year, making it obvious to employers what
Organisations gear for uncertainty areas they must focus on if they are to retain their best talent.
While 2018 was a promising year for hiring and compensation While most candidates are satisfied/very satisfied with their
in Asia, the ripple effect of global geopolitics across industries current level of compensation (59 per cent), this number has
and economies in 2019 has seeded uncertainty within the region. dropped from last year (62 per cent). Hong Kong had the highest
This is most evident by the majority of employers in the region number of employees who successfully asked for and received
(42 per cent) expecting a softening general outlook for their a pay raise (36 per cent), while the highest number of those
local economy in 2020. While employers have always been who asked but did not receive was in Malaysia (24 per cent)
conservative in their response to this question, having voted for and Singapore (19 per cent). Most candidates are unperturbed,
a ‘static’ outlook consecutively for the last three years, this is the however, and still remain steady in their expectations for
first time our results have effectively fallen on this side of the coin. increments in the coming year. While 45 per cent of candidates
However, such an outlook will necessitate transformation, both across Asia are in line with employee expectations of raises
in organisational structures and skillsets, bringing with it new job between 3-6 per cent, 41 per cent still expect increases between
roles and opportunities for development. 6-10 per cent or above. This could possibly lead to an influx of
This is evident by most organisations still expecting increased mismatched salary expectations in the coming year.
business activity in 2020 (59 per cent). Most organisations still Impact of skill gaps becomes increasingly inevitable
report their permanent staff count to have increased in the
last year as well (43 per cent), and expect these numbers to While the majority of candidates believe their skills will continue to
continue increasing through 2020 (43 per cent). Of all the Asian be relevant in the next five years (64 per cent), more are unsure of
regions, Japan is expecting the highest increase in staff levels this (27 per cent) as compared to last year (24 per cent). This may
(52 per cent), as is evident by its tight labour market and falling be a result of the economic uncertainty combined with the rapid
unemployment numbers. digitalisation that continues to transform job markets across the
region, resulting in a pressure to upskill.
Increments and bonuses show increasingly conservative movement
Organisations are also increasingly aware of the impact skill
When asked if employee salaries had increased in the last year, shortages may have in the coming year. Just above half of all
most organisations reported moderate increments of 3-6 per cent organisations (51 per cent) believe they have the talent needed to
(64 per cent) and expect to keep this range in the year to come. achieve their current business objectives, with Malaysia being the
A concerning trend for employees, however, is the gradual decline most confident (62 per cent) and Japan being the least (31 per
of increments between 6-10 per cent or above, that have steadily cent). The majority are also aware that skill shortages will hamper
dropped from 25 per cent in 2016 to 19 per cent in 2019. The country their business operations to some extent in 2020 (53 per cent),
most willing to offer these higher ranges of increments is China (28 particularly productivity (62 per cent) and business development
per cent), while the least willing is Japan (six per cent). Another (45 per cent). While this is in line with last year’s findings, a new
concern is that an increasing number of companies expect to give entrant onto this list is innovation and creativity (44 per cent),
no increments to their employees in 2020, a number that climbed perhaps linked to ongoing digital transformation. China scored
from six per cent in 2017 to 17 per cent in 2019. Of these, Malaysian highest in this respect (58 per cent), while Hong Kong valued this
employers are most unlikely to offer any increments (20 per cent), the least (33 per cent). The majority of organisations also agree that
closely followed by Singaporean employers (19 per cent). a lack of training and professional development is the leading cause
Trends within bonuses have also showed an increasing amount for such shortages in their industry (46 per cent).
of selectiveness among employers. While most employers still A little over half the organisations believe teachable or technical
award all staff bonuses (60 per cent), an increasing number have hard skills to be the most sought after (54 per cent), with project
changed their stance to ‘yes, but only for some staff ’. This number management (58 per cent) and statistical analysis and data
has gone up from 26 per cent in 2018 to 30 per cent in 2019. And mining (55 per cent) at the top of this list. Among soft skills,
while most employers still plan to award more than 50 per cent problem solving (83 per cent), team work (75 per cent) and verbal
of their staff with bonuses (44 per cent), more employers also communication (70 per cent) remain top priority for employers.
plan on giving no bonuses in the coming year (14 per cent), as More employers are also hiring contracting/temporary staff
compared to last year (11 per cent). to meet peaks in demand (44 per cent), primarily those with
However, the majority of employers still offer benefits in addition technical or digital skills (37 per cent), tied with communication
to their compensation (81 per cent), with the most common (37 per cent).
benefits offered being health/medical (75 per cent) and life As our research shows, 2020 may be a challenging year ahead
assurance (29 per cent). Interestingly, health and wellness (27 per for employers and employees alike. But such market conditions
cent) knocked last year’s ‘pension’ out for third place, a change present opportunities as well. Candidates with the flexibility
that can arguably be attributed to the rise of ageing populations to adapt or upskill in areas that will help organisations feel
and retirement ages across Asia. more equipped to face change will benefit the most. Similarly,
Candidates remain determined in their search for better organisations who can belay their fear and provide candidates with
packages, career progression and work-life balance a conducive culture and generous compensation and benefits will
attract the right candidates to their door and retain them for good.
While the uncertain economic climate may have shook organisations,
candidates seem as determined as ever in their search for greener
working pastures. More candidates are actively looking (36 per cent)
as compared to last year (31 per cent) with Malaysian candidates
being the most open to new roles (52 per cent) and those from Hong
Kong being the most closed (24 per cent).
2020 SALARY POLICY • SALARY INCREASES
DURING THE LAST 12 MONTHS, HOW HAVE YOUR EMPLOYEES’ SALARIES CHANGED? (ASIA)
17%
Nil
29% 35% 13%
Up to 3% From 3% to 6% From 6% to 10%
6%
More than 10%
IN 2020, HOW ARE YOUR EMPLOYEES’ SALARIES LIKELY TO CHANGE? (ASIA)
17%
Nil
34% 34% 11%
Up to 3% From 3% to 6% From 6% to 10%
4%
More than 10%
Employee salary increases by location
CHINA HONG KONG SAR JAPAN MALAYSIA SINGAPORE
Last 12 Next 12 Last 12 Next 12 Last 12 Next 12 Last 12 Next 12 Last 12 Next 12
months months months months months months months months months months
12%
Nil 12% 14% 16% 20% 16% 21% 20% 19% 20%
Up to 3% 12% 15% 28% 38% 48% 54% 22% 24% 35% 42%
MARKET OVERVIEW & TRENDS: SALARY POLICY
From 3% to 6% 42% 44% 37% 35% 23% 25% 37% 39% 35% 29%
From 6% to 10% 27% 23% 11% 7% 5% 3% 15% 13% 7% 8%
More than 10% 7% 6% 10% 4% 4% 2% 5% 4% 4% 1%
6 | 2020 Hays Salary Guide - Asia

2020 SALARY POLICY • SALARY BENEFITS & BONUSES
DO BONUSES FORM PART OF YOUR ORGANISATION’S REMUNERATION PACKAGE?
60% 30% 10%

Yes, for all staff Yes, for some staff No
DO YOU GIVE BENEFITS IN ADDITION TO SALARY AND BONUS?
81%
Yes
Of those who said yes, the top five benefits are:*
75% 29% 27% 24% 21%
Health/medical Life assurance Health and Pension Financial support

benefits wellness program for study
Other benefits nominated include a day off for your birthday, car/car allowance, housing allowance,
club/gym membership, children’s education, hardship allowance, tax equalisation and private expenses.
*More than one answer provided
WHAT PERCENTAGE OF STAFF WILL BE AWARDED BONUSES THIS YEAR?
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$$
14% 19% 13% 10% 44%
Nil Up to 10% From 10% From 20% More than 50%
to 20% to 50%
2020 Hays Salary Guide - Asia | 7

2020 RECRUITMENT TRENDS • STAFFING
OVER THE LAST 12 MONTHS, HAVE PERMANENT STAFF LEVELS IN YOUR DEPARTMENT...
42% Increased
36% Remained the same
22% Decreased
LAST 12 MONTHS
IN THE NEXT 12 MONTHS, DO YOU EXPECT PERMANENT STAFF LEVELS IN YOUR DEPARTMENT TO...
43%
MARKET OVERVIEW & TRENDS: SALARY POLICY & RECRUITMENT TRENDS
Increase
39% Remain the same
18% Decrease
NEXT 12 MONTHS
HOW OFTEN DO YOU EMPLOY TEMPORARY/CONTRACT STAFF?
32% 25% 29% 14%
Regular, Special projects/ Exceptional Never

ongoing basis workloads circumstances
In the next 12 months, do you expect your use of temporary/contract staff to...
24% Increase
59% Remain the same
17% Decrease

2020 RECRUITMENT TRENDS • STAFFING
FOR WHAT REASONS DO YOU PLAN TO RECRUIT TEMPORARY/CONTRACT STAFF IN 2020?
The top five are:*
44% 26% 23% 22% 19%
Meet peaks Ensure flexibility No plans to recruit Cover staff on Access to

in demand of staffing costs temporary/contract staff long-term leave specific skills
for one off projects
Other reasons nominated include difficulty finding suitable permanent workers, cover extra workload and other.
WHAT SKILLS ARE YOU LOOKING FOR TEMPORARY/CONTRACT STAFF TO BRING TO THE TEAM?
The top five are:*
37% 37% 30% 30% 24%
Communication Tech/digital Data and analytics Projects and Critical thinking

change management
Other skills nominated include commercial/business development, managerial/leadership, software development,

IT infrastructure, stakeholder engagement and cybersecurity.
WHICH OF THE FOLLOWING FLEXIBLE WORKING OPTIONS DOES YOUR ORGANISATION CURRENTLY OFFER TO
YOUR KNOWLEDGE?*
Term-time working hours
Home or remote working
Flexi-time working hours
Informal flexible working
Part-time employment
Compressed hours
Phased retirement
Job sharing
Other
None
37% 37% 29% 29% 15% 6% 5% 3% 3% 1%


2020 RECRUITMENT TRENDS • DIVERSITY & MERITOCRACY
DOES YOUR ORGANISATION HAVE FORMAL DIVERSITY POLICIES AND PRACTICES IN PLACE?
50% 30% 20%

Yes No Not sure
If yes, how well are they adhered to?
18% 46% 11% 25%
Well Fairly well Not well Not sure
WHAT PERCENTAGE OF WOMEN DO YOU HAVE IN MANAGEMENT POSITIONS?
36% 39% 19% 32% 30%

WHAT PERCENTAGE OF FOREIGN EMPLOYEES DO YOU HAVE IN YOUR ORGANISATION?*
MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS
8% 18% 11% 15% 28%

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

2020 RECRUITMENT TRENDS • SKILLS SHORTAGES
WHAT SKILLS ARE MOST SOUGHT-AFTER BY YOUR ORGANISATION?
44% Soft skills

Psychological/emotional competencies
56% Hard skills

Teachable/technical
When recruiting new staff in 2020, which of these soft skills are important to you?*
83% 75% 70% 59% 56%
Problem solving Team working Verbal Critical thinking Interpersonal skills

communication
53% 51% 50% 50% 49%
Attention to detail Analytical/ Time management Flexibility Leadership

quantitative skills
48% 45% 32%
Written Resilience Negotiation skills

communication
When recruiting new staff in 2020, which of these hard skills are important to you?*
58% 55% 38% 35% 27%
Project Statistical analysis Computer skills Foreign language A degree

management and data mining fluency (or other academic
qualification)
24% 17% 16% 15% 15%
An industry Social media Network Cloud and Accounting or

specific management and information distributed bookkeeping
certification security computing
14% 11% 10% 9%
Programming Coding ability Web architecture UX or UI design

languages and development
*More than one answer provided framework

DO YOU THINK YOUR ORGANISATION HAS THE TALENT NEEDED TO ACHIEVE CURRENT BUSINESS OBJECTIVES?
51% 31% 18%

Yes No Not sure
WILL SKILLS SHORTAGES HAMPER THE EFFECTIVE OPERATION OF YOUR BUSINESS/DEPARTMENT IN 2020?
37% 53% 10%

Yes without a doubt Yes there will No
be some impact
IN WHAT AREAS, IF ANY, HAVE SKILL SHORTAGES HAD A NEGATIVE IMPACT ON YOUR ORGANISATION?*
62% 45% 44% 44% 43%
Productivity Business Innovation/ Growth/ Ability to

development creativity expansion deliver projects
Other negative impacts highlighted include employee moral, revenue/profit, customer/client service, absenteeism due to
MARKET OVERVIEW & TRENDS: RECRUITMENT TRENDS
stress and increased overtime pay.

WHAT DO YOU THINK ARE THE MAIN CAUSES OF SKILLS SHORTAGES IN YOUR SECTOR/INDUSTRY?*
46% 38% 30% 25% 23%
Training Competition for Lack of Fewer people entering Perception/

and professional roles/job progression the job market stereotyping
development opportunities opportunities in your industry
Other causes include time required to complete necessary qualifications/training, cost of qualifications and lack of
awareness of opportunities in schools/universities.
The Hays Global Skills Index is the only comprehensive overview

of the professional global labour market and offers insights into
the challenges faced by organisations as they search for the most
sought-after skilled talent.
https://www.hays-index.com/

WHAT ACTION HAVE YOU TAKEN TO ADDRESS IMMEDIATE SKILL SHORTAGES WITHIN YOUR ORGANISATION?*
58% 43% 37% 24% 20% 11% 2%
Up-skilled Improved Transferred Recruited contract/ Recruited workers No action taken Other
current workforce attraction strategy employees temporary workers from overseas
between
different functions
IN SKILL-SHORT AREAS, WOULD YOU CONSIDER EMPLOYING OR SPONSORING A QUALIFIED OVERSEAS/

EXPATRIATE CANDIDATE?
57% 43%
Yes No
ARE YOU CURRENTLY RESTRUCTURING YOUR DEPARTMENT/ORGANISATION TO KEEP UP WITH CHANGING

BUSINESS NEEDS?
61% 39%
Yes No
IF YES, WHAT HAS/HAVE BEEN THE DRIVER(S)?*
The top five are:*
62% 41% 40% 23% 16%
Change in required Requirement Digital Outsourcing Merger/

skills set for a more transformation acquisition
flexible workforce
Other drivers have been due to downsizing, offshoring and inshoring.


2020 ECONOMIC OUTLOOK • BUSINESS ACTIVITY
OVER THE NEXT 12 MONTHS, HOW CONFIDENT ARE YOU THAT YOU WILL BE ABLE TO RECRUIT CANDIDATES WITH
THE SKILLS NEEDED TO MEET YOUR ORGANISATION’S NEEDS?
7%
Very confident
49% 40% 4%
Confident Not very confident Not at all confident
DURING THE PAST 12 MONTHS, HAS BUSINESS ACTIVITY INCREASED/DECREASED FOR YOUR ORGANISATION?
55% 22% 23%

Increased Remained the same Decreased
OVER THE NEXT 12 MONTHS, HOW DO YOU EXPECT YOUR ORGANISATION’S ACTIVITY LEVELS TO CHANGE?
59% 25% 16%

Increasing Remaining the same Decreasing
DO YOU SEE THE GENERAL OUTLOOK FOR THE LOCAL ECONOMY IN 2020 AS:
MARKET OVERVIEW & TRENDS: ECONOMIC OUTLOOK
Strengthening
30% 9% 31% 21% 13%
Static
30% 26% 44% 46% 42%
Weakening 40% 65% 25% 33% 45%

2020 EMPLOYEE TRENDS • WHAT DO EMPLOYEES THINK?
HOW DO YOU EXPECT YOUR SALARY/RATE OF PAY TO CHANGE IN 2020? (ASIA)
Asia
14%
Nil
21%
Up to 3%
24% 19%
From 3% to 6% From 6% to 10%
22%
More than 10%
Expected salary change by location
Expected Expected Expected Expected Expected

Change 2020 Change 2020 Change 2020 Change 2020 Change 2020
Nil 4% 12% 27% 10% 17%

Up to 3% 5% 24% 35% 14% 26%
From 3% to 6% 18% 30% 19% 27% 26%
From 6% to 10% 33% 14% 8% 24% 14%
MARKET OVERVIEW & TRENDS: EMPLOYEE TRENDS

More than 10% 40% 20% 11% 25% 17%

HOW WOULD YOU RATE YOUR WORK-LIFE BALANCE?
14% 35% 35% 11% 5%
Very good Good Average Poor Very poor
Do you currently use any of the Which of the following flexible working options
following flexible working options?* if you were looking for a new job would be
important to you when considering a new role?*
5% Part-time working 7%
26% Flexi-time 52%
3% Job sharing 7%
31% Home or mobile working 57%
3% Compressed hours 27%
2% Term-time working 7%
2% Annual hours 8%
16% Informal flexible working 28%
1% Phased retirement 5%
MARKET OVERVIEW & TRENDS: EMPLOYEE TRENDS
46% None of the above 13%

2% Other 1%
WOULD YOU MOVE ABROAD FOR A NEW JOB OPPORTUNITY WITH YOUR CURRENT OR A NEW EMPLOYER?
66% 34%
Yes No
HOW MANY HOURS OUTSIDE OF YOUR JOB DO YOU SPEND ENHANCING YOUR PROFESSIONAL SKILLS?
19% 36% 27% 12% 4% 2%
None 1 to 2 hours 3 to 5 hours 6 to 10 hours 10 to 24 hours More than 24 hours

per week per week per week per week per week

DO YOU BELIEVE YOUR CURRENT SKILLS WILL STILL BE IN DEMAND BY EMPLOYERS FIVE YEARS FROM NOW?
64% 9%
Yes No
27%
Not sure
ARE YOU HAPPY WITH YOUR TOTAL COMPENSATION PACKAGE PROVIDED BY YOUR EMPLOYER
(INCLUDING SALARY, BONUSES & BENEFITS)?
4%
Very satisfied
55% 36% 5%
Satisfied Dissatisfied Very dissatisfied
IN THE PAST YEAR, HAVE YOU ASKED FOR A PAY RISE?
24% 16% 60%

Yes, successfully Yes, not successfully No
ARE YOU ACTIVELY LOOKING FOR A NEW JOB?
36% 18% 46%

Yes No No, but I’m open to
new opportunities
If yes, why are you looking for a If you aren’t looking to move, what makes you
new employer?* want to stay with your current employer?*
62% Salary or benefit package 40%

45% Career progression 31%
Training or
24% development opportunities 21%
19% Job security 31%
20% Work-life balance 43%
48% New challenges 24%
16% Work location 31%
The management style
36% & company culture 33%
11% Flexible working options 27%
6% Other 6%

SALARIES & SECTOR
OVERVIEWS
NAVIGATE YOUR
WORLD OF WORK
SALARY INFORMATION: SALARIES & SECTOR OVERVIEWS
HOW TO USE THIS GUIDE

Using our salary tables
Typical salary ranges are represented in local
currencies in ‘000 excluding Japan which is stated in
millions. Refer to the notes section under the salary
table 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
ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE
CHINA candidates with merger & acquisition bringing companies forward through
SALARY INFORMATION: ACCOUNTANCY & FINANCE/AUDIT, RISK & COMPLIANCE

(M&A), investment or financing experience. analysing performance and evaluating key
BUSINESS FINANCE, INTERNATIONAL TAX business drivers. This transformation has
& COMPLIANCE EXPERTS IN DEMAND Conversely, as the development of foreign-
also affected hiring requirements in the
invested companies slows down in the
Considering the pace at which the retail and sector. Employers now place less importance
region, financial shared service centres
technology, media and telecom (TMT) on a strong industry background and more
(FSSCs) are increasingly being outsourced
sectors are currently growing in China, the on strong communication and stakeholder
to third party vendors or to parts of
demand for strong finance candidates skilled management skills. Salaries across the board
Southeast Asia. Robotic process
in commercial businesses and international are predicted to remain steady, without any
automation (RPA) is also being
tax is expected to go up this year and with significant changes.
increasingly deployed to drive accounting
it, salaries offered. automation, resulting in a slight downturn
There is also an ongoing demand for in demand for some transactional Companies in Hong Kong will be
compliance candidates, especially within accounting roles. looking to enhance their
data analytics capabilities in 2020.
highly regulated and high-risk industries A recent report by KPMG and the
like healthcare, as well as in HONG KONG SAR Association of Chartered Certified
pharmaceutical, medical devices and IT Accountants (ACCA) found that
fields. Companies are looking for talent VIRTUAL BANKS GEAR FOR LAUNCH IN 46 per cent of finance functions
that has knowledge of standard practices, 2020; ROUND TWO OF HIRING EXPECTED across several industries will be
rules, nuances and the ability to advise a Most virtual banks have almost finished investing in such systems.
company on how to navigate its path as a their first level of hiring that primarily
leader in the healthcare industry. consisted of senior-level and C-level
DOMESTIC EXPANSION MAY RESULT IN finance staff that will help build up teams.
FIERCE HIRING COMPETITION Now, these businesses are gearing up for
launch in 2020.
A recent trend has seen the expansion of
domestic companies in China, bringing The rise of virtual banks will also result in
with it an urgent demand for senior-level a continuous need for mid to senior-level
finance talent with global perspective and candidates with a background in HKMA
exposure. This demand is especially the regulatory reporting, project finance
case for Tier One cities like Beijing and professionals, and candidates with asset
Shanghai, where higher salaries are being and liability, treasury or balance sheet
offered despite a slowing economy. The management experience Source: Hong Kong’s Data-driven Future by
ongoing talent shortage in certain INSURANCE, AUTOMATION LEAD THE KPMG and ACCA
emerging industries has spurred WAY FOR NEW STANDARDS
competitive employers to do their best to
hire and retain professionals who can help As more insurance firms take the lead in
build or turn their business around. adopting IFRS 17 accounting policies, there
will be a rise in demand for candidates
Conversely, more candidates now prefer to with strong knowledge in new accounting
work for domestic companies over MNCs standards as well as experience in the
as it not only gives them more space for implementation of new policies
career advancement, but the proximity to
headquarters also allows them more direct With the emergence of cloud technology,
influence on strategy and operations. large commercial banks are heading
towards automation of accounting
CANDIDATES WITH IPO, M&A operations, leading to a rising need for
EXPERIENCE IN FOCUS; OUTSOURCING &
AUTOMATION MAY REPLACE
accounting and finance professionals to
also be equipped with finance
‘The demand for
TRANSACTIONAL ROLES transformation experience and project
management skills.
finance candidates
With a number of Chinese companies
planning to make their Initial Public TRANSFORMING ROLE REMITS BRING with experience
Offering (IPO) in the next year, the SOFT SKILLS INTO FOCUS
demand for finance candidates with
Finance and accounting roles have been
in IPOs will rise
experience in IPOs has significantly risen.
Similarly, an increase in outbound transforming in recent years from the
traditional remit of only supporting business
significantly across
investment activity from Chinese
companies has resulted in high demand for functions. Today, they play a critical part in China in 2020.’

CORPORATE FIRMS TURN CONSERVATIVE; arrangements like expedited career paths to and foreign banks speaking Japanese at a
PRIVATE EQUITY ON THE RISE motivate them to come on board. native level.
Due to the uncertain global economic In the accounting & finance consumer With further regulatory changes on the
climate, corporate firms are turning more retail market, the demand for junior way in 2020, compliance is expected to
conservative in their hiring plans. As a finance analysts has increased steadily remain a key hiring focus for all financial
result, we expect a decrease in demand across companies. Suitable candidates are institutions in Japan.
for candidates with corporate finance in short supply, so companies often
backgrounds in the coming year. compromise by either hiring high-potential
junior accountants or experienced senior
MALAYSIA
However, owing to the recent increase in
analysts instead. We expect this trend to ANOTHER BOUYANT YEAR EXPECTED
private equity funds being launched in
continue across 2020, as the same market FOR ACCOUNTANCY & FINANCE JOB
Hong Kong, demand for fund accountants
conditions are likely to be present. MARKET
of all levels will be on the rise in both sell-
side and buy-side firms. BIG FOUR RAMP UP HIRING; BILINGUAL Continued investment by MNC’s into
CPAS IN DEMAND regional shared service centre set ups, a
SHARED SERVICE CENTRES DRIVE
resilient oil and gas sector and a
DEMAND FOR FP&A PROFESSIONALS The Big Four demand for talent is
substantial increase in demand for
increasing in every area, especially internal
Shared service systems have become a commercial finance candidates across all
auditing, accounting/financial advisory,
major business trend over the last few industries will ensure the growth of the
global mobility, transfer pricing and
years. Large corporations have accountancy & finance job market
outsourcing services.
increasingly shifted their accounting throughout 2020. With more and more
functions and started setting up shared In their bid to attract more talent, the Big insurance firms adopting IFRS17 and
service centres in low-cost areas like China Four are now offering better work-life industry clients looking to move finance
and Southeast Asia as a cost saving and balance, including low overtime, flexitime closer to its front office functions, there
standardisation strategy. Thus, the provisions and telework options along will be multiple job opportunities for both
demand for financial planning & analysis with a rise in salary. As Japanese technical and commercially minded
(FP&A) and finance business partnering companies continue to grow and expand accountants.
candidates is currently higher in the Hong overseas, there is also an increasing
MALAYSIA REMAINS ASIAN HUB FOR
Kong market. shortage of bilingual CPAs (certified public
SSC; SALARY RISES EXPECTED
accountants) who can be allocated to
international projects at Big Four Malaysia remains the Asian hub for shared
JAPAN companies. service centres and although these often
BUOYANT MARKET CONTINUES FOR lead to a reduction in overall global
COMPLIANCE IN HIRING FOCUS; NATIVE
ACCOUNTING & FINANCE finance headcount, the concentration of
JAPANESE SPEAKERS HOLD THE
PROFESSIONALS; SOFT SKILLS IN finance personnel into Kuala Lumpur and
ADVANTAGE
DEMAND Petaling Jaya will result in further
Compliance was one of the hottest areas increases of both opportunity and salary
Accountants of all levels continue to be high
for banking, securities and asset for AP (accounts payable), AR (accounts
in demand in the Japan market. As their
management in 2019. Cracking the receivable) and GL (general ledger)
skills are easily transferrable, these openings
Financial Services Agency (FSA) and Bank professionals. Salaries in these spaces saw
tend to be filled up quickly, sometimes
of Japan (BOJ) are relatively difficult for rises throughout 2019 and are expected to
taking only a couple of days to be closed.
international FinTech and crypto firms continue rising into 2020 as more MNCs
Financial controllers and FP&A (financial trying to establish themselves in Japan, set up functions in Malaysia.
planning & analysis) analysts/managers with leading to a high demand for veteran
strong commercial acumen also continue to compliance experts. As a consequence,
be sought after in the market. But while attractive salary packages will be offered
many candidates have the required to entice quality candidates to switch roles.
qualifications and controlling and analysis
It is also worth noting that while financial
skills, they may lack hard-to-train soft skills
like good communication. As many global
risk management functions can be off- ‘The Big Four in
shored to cheaper locations (as commonly
companies expect finance leaders in Japan
to advise management on key decisions,
seen in recent years after the financial Japan are embracing
crisis), compliance and non-financial risk
those with business partnering skills can
expect competitive packages. Often there
functions are required to be permanently flexible working
located in Japan. Due to this, as well as its
are only a handful of such candidates
available in the market, leading companies
regulatory nature, compliance remains a conditions in a bid to
Japanese-dominated area, with over 90%
to offer sign-on bonuses or special
of compliance experts at both domestic attract more talent.’

STRATEGIC FINANCE PERSONNEL WITH new phenomenon, 2020 will see this focus FINTECH COMPANIES EXPECTED TO
COMMERCIAL ACUMEN IN HIGH DEMAND switch to projects where being prepared TRANSFORM HIRING PROCESS
and well-versed to combat regulatory
Automation is the biggest trend currently Thanks to the Singapore Government’s
changes will become paramount. As a
affecting the finance sector and more “Smart Nation” initiative, 2020 will
consequence, candidates with strong
companies are expected to follow suit in continue seeing an influx of fintech
technical knowledge will be sought after
the utilisation of their commercial finance companies setting up their APAC
for their ability to interpret the new
departments. The resulting volume of data headquarters in Singapore. In return, high-
standards and assist in roll outs.
and ability to produce complex reports in a calibre candidates can expect to be
Candidates that can work on projects to
short period of time will lead to a sustained offered attractive salaries and benefits
ensure companies are meeting MAS
demand for finance personnel who can that other, more traditional companies
requirements will become more important
explain these findings to budget holders may not be willing or able to provide.
than ever.
from a non-finance background. Relating They are also expected to change the
these back to businesses strategies and HYBRID ROLES WILL REQUIRE DIGITAL & recruitment process and step away from
working with stakeholders to ensure the ANALYTICAL ABILITIES basic interviewing methods. Instead, these
insights are fully understood will also be companies will likely rely more heavily on
The days of traditional “number
highly valued skillsets. We forecast a high using other techniques to short-list
crunching” roles may be coming to an
demand and short supply of such ‘finance candidates, such as online quizzes, case
end, but finance experts who can prepare
business partners’ and expect a migration studies or brain teasers.
the numbers, analyse them, interpret them
of candidates from more reporting focused
and finally tell a story about the results JUNIOR LEVEL ROLES ARE THE FASTEST
roles into this space. This will also lead to
and what they mean for the business will MOVING; SALARIES EXPECTED TO
significant salary increases for candidates
be highly sought after. Businesses will thus STAGNATE IN 2020
placed into these roles.
focus their hiring on finance business
Junior level roles are moving quickly in the
STABILISING OIL PRICES AND partners that not only have solid technical
current climate and good candidates tend

TECH START UPS TO DRIVE NEW knowledge but are also confident,
to have two or three offers to choose
OPPORTUNITIES articulate and who can liaise with, as well
from; whereas at the senior level, the
as influence senior management.
2019 saw global oil prices stabilise, hiring process is taking longer.
Candidates will need a combination of
resulting in an increase in the volume of
hard and soft skills to be considered for Across the board, we expect to see a
finance and accounting opportunities
these managerial roles. stagnation in salary changes for 2020,
available. The influx of upstream
with only slight increases across
investment will likely see back office Digital transformation is also having a
accounting & finance roles. Interestingly,
functions struggle to cope with demand large impact on the finance industry, with
there has been a noticeable decrease in
unless internal investments are made and the number of roles in this area seeing a
packages for CFO and Director level roles,
market dynamics take effect, driving up significant increase. The drive towards
although managerial roles will still
salaries for experienced operatives and automation will enable accountants to
continue to see the most significant rises
creating a more competitive employment move towards their roles of the future that
across all industries.
market. will include providing analysis, and useful
up-to-date data rather than spending time
Malaysia has maintained its position as on ‘non-value add’ tasks.
a regional tech hub and accountancy
professionals who have experience in this
sector remain highly desirable for new and The new accountancy industry digital
plan (IDP) will help small and medium-
existing entities. This trend is expected sized practices in Singapore adopt
to continue throughout 2020 as more technology for greater productivity and
companies are looking for candidates with competitiveness. The plan has been put
experience in such complex, fast paced in place by the Singapore Accountancy
and often unstructured environments. Commission (SAC), the Institute of
Singapore Chartered Accountants
SINGAPORE (ISCA) and the Infocomm Media
Development Authority (IMDA).
TREND OF AUTOMATION AND
OUTSOURCING WILL BRING BOTH
CHALLENGES AND OPPORTUNITIES
2019’s trend of automating and
outsourcing accounting & finance business
processes should continue in 2020. The
ongoing change will impact the demand
for roles within Singapore as more global
MNC’s, particularly within the banking
industry, continue “off-shoring” back-end
operations, streamlining processes and
reducing overheads.
However, these changes will bring
opportunity as well. Although the Source: The Business Times
availability of some operational roles may
diminish, we foresee an increase in
requests for hybrid roles that often entail a
wider job scope and the need for
employees to produce, analyse and report
on data. Such changes will equate to
employer demands for candidates to be
adaptable within a changing environment.
PROJECT-RELATED REGULATORY SKILLS
WILL BE IN DEMAND
Regulators in Singapore are revising and
tightening accounting standards,
predominantly in the banking sector
where scrutiny on regulatory reporting is
crucial to business success. Although not a

ACCOUNTANCY & FINANCE
COMMERCE & INDUSTRY | SENIOR FINANCE
FINANCE DIRECTOR/CFO SME MID MNC
China 700 - 1,000 1,200 - 2,500 1,000 - 3,000
Hong Kong SAR 1,000 - 1,500 1,200 - 2,500 1,400 - 3,000
Japan 12 - 16 14 - 25 16 - 30
Malaysia 240 - 420 300 - 720 480 - 900
Singapore 180 - 250 230 - 350 300 - 650
FINANCIAL CONTROLLER SME MID MNC

China 450 - 700 600 - 900 600 - 1,300
Hong Kong SAR 660 - 950 900 - 1,080 840 - 1,350
Japan 10 - 15 10 - 17 12 - 20
Malaysia 180 - 240 240 - 300 240 - 360
Singapore 130 - 180 170 - 210 190 - 260
SENIOR FINANCE MANAGER SME MID MNC

China 300 - 500 500 - 700 700 - 900
Hong Kong SAR 540 - 780 580 - 780 750 - 1,150
Japan 10 - 12 10 - 14 14 - 16
Malaysia 140 - 190 180 - 216 168 - 240
Singapore 95 - 125 110 - 160 150 - 180
FINANCE MANAGER SME MID MNC

China 200 - 400 300 - 500 400 - 600
Hong Kong SAR 455 - 600 540 - 650 572 - 780
Japan 8 - 11 8 - 13 12 - 15
Malaysia 100 - 130 120 - 180 140 - 180
Singapore 75 - 100 100 - 130 120 - 160
ASSISTANT FINANCE MANAGER SME MID MNC

China 200 - 350 300 - 450 350 - 500
Hong Kong SAR 420 - 480 480 - 550 585 - 680
Japan 6 - 10 8 - 10 8 - 12
Malaysia 72 - 84 84 - 96 84 - 96
Singapore 75 - 90 80 - 100 80 - 110
SENIOR MANAGEMENT ACCOUNTANT SME MID MNC

China 120 - 150 150 - 250 200 - 300
Hong Kong SAR 264 - 384 336 - 480 360 - 540
Japan 6-8 7 - 10 8 - 12
Singapore 80 - 100 90 - 120 110 - 150
NOTES
• Salaries are represented in local currencies • SME - Small to medium enterprise
• MID - Medium to large
• MNC - Multinational companies

MANAGEMENT ACCOUNTANT SME MID MNC
China 100 - 150 150 - 200 150 - 250
Hong Kong SAR 265 - 300 300 - 360 330 - 410
Japan 5-8 7 - 10 8 - 12
Malaysia 84 - 102 102 - 108 108 - 120
Singapore 55 - 75 70 - 90 90 - 110
SENIOR FINANCIAL ACCOUNTANT SME MID MNC

China 130 - 180 150 - 190 160 - 250
Hong Kong SAR 264 - 384 336 - 480 360 - 540
Japan 6-8 7 - 10 8 - 12
Singapore 70 - 90 80 - 110 90 - 120
FINANCIAL ACCOUNTANT SME MID MNC

China 100 - 150 130 - 150 130 - 180
Hong Kong SAR 265 - 300 300 - 360 330 - 410
Japan 4-6 4-7 5-8
Malaysia 84 - 102 102 - 108 108 - 120
Singapore 55 - 75 65 - 90 78 - 100
FP&A DIRECTOR SME MID MNC

China N/A N/A 800 - 1,200
Hong Kong SAR 840 - 1,000 960 - 1,200 1,080 - 1,500
Japan 10 - 15 12 - 18 14 - 25
Malaysia 180 - 240 216 - 264 360 - 420
Singapore 150 - 190 170 - 220 200 - 280
FP&A MANAGER SME MID MNC

China N/A N/A 300 - 600
Hong Kong SAR 480 - 650 600 - 800 600 - 950
Japan 8 - 12 10 - 15 10 - 18
Malaysia 130 - 180 120 - 192 132 - 192
Singapore 85 - 115 110 - 150 140 - 190
FINANCIAL ANALYST SME MID MNC

China 120 - 150 150 - 180 180 - 250
Hong Kong SAR 280 - 384 360 - 480 360 - 540
Japan 5-8 6 - 10 7 - 12
Malaysia 80 - 96 90 - 120 120 - 156
Singapore 60 - 85 75 - 95 90 - 110
NOTES

TAX DIRECTOR/HEAD SME MID MNC
China 600 - 750 700 - 900 800 - 1,500
Hong Kong SAR 780 - 960 840 - 1,000 1,080 - 1,600
Japan N/A 12 - 17 17 - 30
Malaysia 144 - 180 180 - 240 300 - 600
Singapore 120 - 160 150 - 220 220 - 360
TAX MANAGER SME MID MNC

China 250 - 450 300 - 500 450 - 900
Hong Kong SAR 480 - 720 620 - 840 720 - 1,080
Japan N/A 10 - 14 12 - 18
Malaysia 96 - 144 144 - 216 150 - 264
Singapore 85 - 115 110 - 140 150 - 180
TAX ACCOUNTANT SME MID MNC

China 110 - 160 130 - 210 140 - 260
Japan 4-7 5-8 7 - 12
Malaysia 60 - 84 102 - 120 120 - 156
Singapore 50 - 70 60 - 80 70 - 100
HEAD OF TREASURY/
CORPORATE TREASURER SME MID MNC
China N/A N/A 600 - 1,300
Hong Kong SAR 840 - 1,080 960 - 1,200 1,200 - 2,000
Japan N/A 12 - 16 12 - 18
Singapore 110 - 150 130 - 220 220 - 340
SENIOR TREASURY MANAGER SME MID MNC

China N/A 450 - 600 600 - 900
Hong Kong SAR N/A N/A 780 - 1,000
Japan N/A 12 - 15 15 - 18
Singapore 90 - 120 110 - 150 140 - 170
TREASURY MANAGER SME MID MNC

China 300 - 400 400 - 500 500 - 700
Hong Kong SAR 420 - 480 480 - 650 600 - 940
Japan N/A 10 - 12 12 - 15
Singapore 75 - 95 85 - 115 110 - 150
NOTES

TREASURY SPECIALIST SME MID MNC
China 100 - 150 150 - 200 150 - 250
Japan N/A 6-9 8 - 10
Singapore 55 - 70 65 - 85 75 - 100
TREASURY ACCOUNTANT SME MID MNC

China 100 - 150 150 - 200 150 - 250
Hong Kong SAR 180 - 350 300 - 420 300 - 480
Japan N/A 6-8 7-9
Singapore 60 - 80 70 - 90 95 - 125
PROJECT CONTROLLER SME MID MNC

China 200 - 400 300 - 500 500 - 700
Japan 4-6 6-8 6 - 10
Singapore 145 - 165 155 - 185 175 - 200
PROJECT FINANCE MANAGER SME MID MNC

China 200 - 400 220 - 400 350 - 600
Japan 7 - 10 8 - 12 8 - 15
Malaysia 120 - 156 156 - 180 180 - 216
Singapore 90 - 120 110 - 130 120 - 140
Head of Shared
SHARED SERVICE CENTRE Team Lead Assistant Manager Manager Service Centre
China 250 - 400 400 - 600 600 - 800 800 - 1,500
Hong Kong SAR 300 - 520 520 - 660 572 - 750 1,000 - 1,500
Malaysia 90 - 120 105 - 168 180 - 300 240 - 550
Singapore 50 - 75 65 - 90 90 - 150 150 - 250
NOTES

COMMERCE & INDUSTRY | ACCOUNTING SUPPORT
GRADUATES Assistant Accountant Graduate Accountant
China 65 - 120 55 - 100
Japan 3.5 - 5 3.5 - 5
Malaysia 54 - 66 42 - 48
Singapore 45 - 65 35 - 45
SUPPORT Accounts Receivable Accounts Payable Credit Control Bookkeeper

China 40 - 65 40 - 65 40 - 55 40 - 70
Hong Kong SAR 176 - 300 176 - 300 220 - 404 176 - 300
Japan 4-6 4-6 4-7 3-5
Malaysia 30 - 54 30 - 54 36 - 60 N/A
Singapore 40 - 60 40 - 60 40 - 60 30 - 45
INSURANCE INDUSTRY
Finance Financial Senior Finance Finance Assistant
FINANCIAL SERVICES Director/CFO Controller Manager Manager Finance Manager
Japan 20 - 30 14 - 24 12 - 20 10 - 16 8 - 12
Malaysia 360 - 720 240 - 360 168 - 240 108 - 168 84 - 108
Senior Tax
IFRS 17 Project Manager Tax Manager Tax Accountant
Japan N/A 12 - 18 8 - 13 5-8
Malaysia 216 - 300 120 - 144 96 - 120 72 - 96
Senior Treasury Treasury Treasury

Manager Manager Accountant
Japan 12 - 18 10 - 16 7 - 12
Malaysia 168 - 240 108 - 168 84 - 108
Credit Control
Credit Control Assistant Accounts Accounts
Manager Manager Credit Control Receivable Payable
Japan 12 - 16 8 - 14 8 - 12 5-8 5-8
Malaysia 96 - 120 36 - 66 36 - 66 34 - 66 34 - 66
NOTES
• Salaries are represented in local currencies

BANKING INDUSTRY
Finance Director/ Senior Finance
FINANCIAL SERVICES CFO Financial Controller Manager
China 1,500 - 3,500 900 - 1,200 600 - 1,000
Hong Kong SAR 1,320 - 3,500 1,140 - 1,320 900 - 1,140
Japan 12 - 30 10 - 25 10 - 18
Malaysia 420 + 276 - 360 144 - 210
Singapore 350 - 500 180 - 300 160 - 220
Assistant Tax Director/

Finance Manager Finance Manager Head of Tax
China 500 - 750 300 - 500 1,200 - 2,000
Hong Kong SAR 540 - 840 420 - 540 1,200 - 3,000
Japan 8 - 15 7 - 12 15 - 25
Malaysia 96 - 168 66 - 96 204 - 300
Singapore 120 - 180 90 - 130 250 - 500
Dept Head Senior

Tax Manager Tax Accountant Product Control Product Controller
China 500 - 800 250 - 400 1,200 - 1,600 800 - 1,200
Hong Kong SAR 650 - 1,000 400 - 780 1,300 - 2,500 840 - 1,300
Japan 10 - 18 6 - 12 18 - 20 12 - 16
Malaysia 132 - 156 60 - 120 252 - 360 156 - 240
Singapore 150 - 220 90 - 160 200 - 250 150 - 200
Senior
Product Controller Treasury Manager Treasury Accountant Treasury Manager
China 650 - 900 700 - 1,000 350 - 650 150 - 350
Hong Kong SAR 500 - 800 1,100 - 1,500 800 - 1,100 420 - 550
Japan 10 - 14 14 - 18 10 - 15 7 - 10
Malaysia 84 - 160 216 - 350 120 - 216 72 - 120
Singapore 90 - 150 180 - 300 140 - 180 80 - 130
Accounts
Receivable Accounts Payable Credit Control
China 60 - 120 60 - 120 200 - 500
Hong Kong SAR 200 - 300 200 - 300 200 - 320
Japan 5-8 5-8 8 - 15
Malaysia 34 - 66 34 - 66 36 - 66
Singapore 40 - 65 40 - 65 40 - 65
NOTES

PROFESSIONAL PRACTICE
Senior Associate/
ADVISORY PRACTICES Consultant Assistant Manager
Hong Kong SAR 240 - 300 320 - 560
Japan 6-8 8 - 11
Malaysia 36 - 48 60 - 84
Singapore 40 - 60 60 - 80
Manager Senior Manager Director/Partner

Hong Kong SAR 570 - 920 920 - 1,200 1,200 +
Japan 10 - 12 12 - 18 18 +
Malaysia 84 - 120 120 - 180 240 +
Singapore 80 - 110 100 - 150 180 +
TAX Tax Consultant Senior Tax Consultant

Hong Kong SAR 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 SAR 570 - 920 920 - 1,200 1,200 +
Japan 10 - 12 12 - 18 18 +
Malaysia 84 - 120 120 - 180 240 +
Singapore 120 - 150 150 - 180 180 +
NOTES

AUDIT, RISK & COMPLIANCE
AUDIT
Senior Auditor Audit Manager Senior Audit Head of Audit/
BANKING Auditor (AVP) (VP) Manager (SVP) Audit Director
China 250 - 400 350 - 600 600 - 800 800 - 1,000 1,000 - 1,600
Hong Kong SAR 350 - 550 450 - 750 650 - 1,100 900 - 1,300 1,700 - 2,500
Japan 6 - 12 8 - 14 10 - 16 12 - 18 12 - 25
Malaysia 48 - 72 72 - 102 102 - 216 216 - 360 360 - 600
Singapore 50 - 95 95 - 135 135 - 200 200 - 250 250 - 400
Auditor/ Assistant Audit Head of Audit/

INSURANCE Senior Auditor Manager Audit Manager Senior Manager Audit Director
China 120 - 200 150 - 250 250 - 450 500 - 800 650 - 1,000
Hong Kong SAR 300 - 360 360 - 540 580 - 780 780 - 1,000 1,200 - 2,000
Japan 5-8 7 - 10 10 - 14 12 - 15 15 - 19
Malaysia 42 - 66 66 - 96 96 - 144 144 - 240 240 - 480
Singapore 50 - 80 80 - 120 120 - 180 150 - 200 200 - 350
Auditor/ Assistant Audit Head of Audit/

COMMERCE & INDUSTRY Senior Auditor Manager Audit Manager Senior Manager Audit Director
China 120 - 250 180 - 300 300 - 500 500 - 700 700 - 1,500
Hong Kong SAR 240 - 300 320 - 470 500 - 720 750 - 1,100 1,200 +
Japan 5-7 8 - 10 10 - 15 15 - 17 17 +
Malaysia 36 - 72 72 - 102 108 - 144 144 - 220 220 +
Singapore 35 - 70 70 - 100 100 - 120 120 - 150 150 +
Associate/ Assistant Director/

PROFESSIONAL SERVICES Senior Associate Manager Manager Senior Manager Partner
China 240 - 300 320 - 470 500 - 720 750 - 1,000 1,200 +
Hong Kong SAR 240 - 300 320 - 470 500 - 720 750 - 1,100 1,200 +
Japan 5-7 8 - 10 10 - 15 15 - 17 17 +
Malaysia 36 - 60 66 - 84 84 - 120 120 - 180 240 +
Singapore 35 - 65 65 - 75 75 - 100 100 - 180 180 +
NOTES

RISK | BANKING
Assistant
CREDIT RISK Analyst Associate Vice President Vice President Director
China 120 - 240 240 - 360 360 - 600 600 - 960 960 +
Hong Kong SAR 180 - 300 300 - 600 600 - 900 900 - 1,200 1,200 +
Japan 6-9 8 - 12 11 - 15 15 - 20 20 +
Malaysia 48 - 60 72 - 90 96 - 120 132 - 180 240 - 300
Singapore 60 - 90 90 - 100 100 - 135 135 - 220 220 +
Assistant
MARKET RISK Analyst Associate Vice President Vice President Director
China 120 - 240 240 - 360 360 - 600 600 - 960 960 +
Hong Kong SAR 180 - 360 360 - 480 480 - 660 660 - 960 1,080 +
Japan 6-9 8 - 12 11 - 14 13 - 20 20 +
Malaysia 48 - 72 72 - 116 120 - 156 180 - 240 300 - 360
Singapore 60 - 90 90 - 110 110 - 150 150 - 230 230 +
Assistant
OPERATIONAL RISK Analyst Associate Vice President Vice President Director
China 120 - 240 240 - 360 360 - 600 600 - 1,080 1,080 +
Hong Kong SAR 260 - 480 480 - 660 660 - 1,000 1,000 - 1,400 1,400 - 2,000
Japan 6.5 - 8 8 - 10 11 - 14 15 - 20 20 +
Malaysia 48 - 72 72 - 90 108 - 180 192 - 240 240 - 300
Singapore 50 - 80 80 - 100 100 - 135 135 - 220 220 +
NOTES

RISK | COMMERCE & INDUSTRY
Assistant
Executive/ Manager/
Senior Executive Manager Senior Manager Director
China 120 - 250 250 - 400 300 - 600 600 - 1,000
Hong Kong SAR 150 - 300 300 - 450 450 - 750 750 +
Japan 6 - 10 7 - 16 10 - 20 15 +
Malaysia 36 - 78 78 - 168 168 - 210 240 +
Singapore 35 - 70 70 - 130 130 - 180 180 +
RISK | INSURANCE
Executive/ Assistant
Senior Executive Manager Manager Senior Manager Director
China 180 - 250 200 - 360 300 - 500 400 - 700 700 +
Hong Kong SAR 300 - 360 380 - 520 540 - 660 720 - 900 960 - 1,300
Japan 5-7 7-9 9 - 12 12 - 17 18 +
Malaysia 48 - 72 72 - 96 96 - 144 144 - 204 216 +
Singapore 40 - 60 60 - 80 80 - 120 120 - 200 200 +
RISK | PROFESSIONAL SERVICES

ENTERPRISE RISK Senior Associate Manager Manager Senior Manager Partner
China 120 - 250 200 - 400 400 - 700 700 - 900 800 +
Hong Kong SAR 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 - 204 216 +
Singapore 45 - 65 65 - 75 75 - 100 100 - 180 180 +
NOTES

COMPLIANCE | BANKING
Assistant
Analyst Associate Vice President Vice President Director
China 120 - 240 240 - 360 500 - 800 800 - 1,200 1,200 +
Hong Kong SAR 216 - 360 336 - 540 544 - 840 840 - 1,500 1,500 +
Japan 6-9 9 - 12 11 - 14 12 - 20 20 +
Malaysia 60 - 78 78 - 132 132 - 216 216 - 264 264 +
Singapore 50 - 75 75 - 90 90 - 130 130 - 220 220 +
COMPLIANCE | INSURANCE
Officer/ Assistant
Senior Officer Manager Manager Senior Manager Director
China 150 - 250 250 - 400 400 - 600 600 - 800 1,500 +
Hong Kong SAR 300 - 360 420 - 540 600 - 780 780 - 900 980 - 1,600
Japan 5-8 6 - 10 8 - 12 13 - 18 15 - 18
Malaysia 51 - 96 72 - 108 108 - 180 180 - 222 222 - 492
Singapore 35 - 65 65 - 90 90 - 150 150 - 200 200 - 350
COMPLIANCE | COMMERCE & INDUSTRY

Officer/ Assistant
Senior Officer Manager Manager Senior Manager Director
China 120 - 240 180 - 350 300 - 500 400 - 700 700 +
Hong Kong SAR 150 - 300 300 - 450 450 - 750 600 - 850 850 +
Japan 5-8 7 - 12 9 - 16 10 - 20 17 +
Malaysia 60 - 72 72 - 102 102 - 180 180 - 264 264 +
Singapore 35 - 60 60 - 80 80 - 120 120 - 180 180 +
COMPLIANCE | PROFESSIONAL SERVICES

Senior Associate Manager Manager Senior Manager Partner
China 120 - 250 180 - 400 300 - 700 600 - 900 800 +
Hong Kong SAR 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 - 168 168 - 222 222 +
Singapore 35 - 65 65 - 75 75 - 100 100 - 180 180 +
NOTES

BANKING & FINANCIAL SERVICES
CHINA TRADE WAR PUSHES BANKS TO FOCUS FOREIGN BANKS RAMP UP HIRING FOR
ON CASH MANAGEMENT & MNC CLIENTS COMPLIANCE AND RISK
BELT AND ROAD INITIATIVE WILL
CONTINUE EXPANDING INVESTMENT ROLES The US-China trade war will continue Compliance and risk candidates continue to
negatively impacting the corporate be in high demand, with KYC and AML skills
The Chinese government’s Belt and Road banking business for both state-owned in particular warranting competitive salaries.
initiative will bring plenty of opportunities enterprises (SOE) and private owned Experienced local credit risk candidates who
to Asian and foreign banks in 2020. This enterprises (POE), as well as the can balance business development and risk
will increase hiring for structure export international trade finance business in management are currently in short supply
finance managers, project finance global banks. This has led to banks shifting but in high demand.
managers and corporate and institutional their focus to MNC/FIE clients and cash
banking relationship managers (RMs), with management instead. This is most evident
client resources in industries such as EPC in the rise of digital banking, that will
HONG KONG SAR
(Engineering Procurement Construction), capitalise on commercial banking’s strong VIRTUAL BANKING WILL DRIVE NEED
infrastructure and green energy. Due to global network, diversified non-lending FOR TECHNICAL CANDIDATES
the urgent need for and shortage of products and advanced IT systems.
candidates in these spaces, those with The granting of virtual banking licences
demonstrated experience can expect to STIMULUS POLICY FOR WFOE took the industry by storm, resulting in the
INVESTORS BRINGS IN NEW HIRING creation of new head counts and more
SALARY INFORMATION: BANKING & FINANCIAL SERVICES

receive up to 30 per cent in increments.
NEEDS opportunities for professionals as the
While hiring in private equity and venture market moved to stabilise. Continued
capital will continue to slow down in 2020, With Chinese regulations now being more
expansion in this space has resulted in a
investment professionals with experience open to WFOE (wholly foreign-owned
huge demand for talent in product
in healthcare, pharmaceuticals, AI, big enterprises) investors, many foreign banks
management, retail management and
data, new consumer, logistics, and are also setting up wholly owned
technical and control functions.
education will still be in demand. When securities/asset management services. This
compared to the sector’s recruitment has prompted them to look for candidates There has also been a large overall
appetite years ago, clients now prefer who are from global financial institutions emphasis on the digital space amongst
candidates with deep domain knowledge but also have local experience. This comes both companies and candidates. Roles
of their industry. As more funds and alongside a renewed focus on FI and with tech elements are hence highly
investment related companies focus on particularly NBFI (non-bank financial sought after.
their invested portfolios, portfolio institutions) portfolios like insurance, asset COMPLIANCE FUNCTION A HIGH
management professionals are expected management, and private equity/venture PRIORITY FOR BANKS
to stay in demand for the coming year. capital, as well as both onshore and
offshore businesses. We thus expect hiring Candidates from a compliance monitoring
for experienced or high potential NBFI and surveillance background are in high
relationship managers to increase. demand as more banks turn their focus to
setting up and refining their monitoring
programmes. Similarly, there has been a
lot of AML hiring activity from fintech
companies who need to navigate
regulation to move forward in their
China and Singapore in 2019 signed five agreements business expansion. The credit risk area
which will see both countries cooperate in six areas: also continues to be another space with
high hiring activity across both local and
regional banks.
1. The Belt and Road Initiative

2. Financial services cooperation
‘The rise of virtual
3. Technology and innovation banks in Hong
4. Ease of doing business
5. Urban governance
Kong will result in
6. People-to-people exchanges the creation of new
headcounts and
Source: The Strait Times opportunities.’

PRIVATE BANKING HIRING REMAINS Candidates also have an increasing HYBRID RISK PROFESSIONALS,
STABLE number of opportunities outside of the COMPLIANCE FUNCTIONS IN FOCUS
traditional finance industry. This includes
Hiring in private banking has remained Due to the rise in hybrid risk roles that
FinTech, blockchain/distributed ledger
stable and kept pace with the high include projects and testing, there is an
companies or startups that are leveraging
demand being received by the front line. increase in demand for risk candidates
the dismal performance of traditional
This is a continuing trend from 2019, owing with programming knowledge in SAS, SQL
banking as an opportunity to present
to the large market potential of wealth and C++. Risk policy makers are also in
themselves as an attractive alternative.
management services in Asia. Salaries in high demand, considering the Central
This is particularly true for finance and risk
this area are expected to remain in line Banks’s consistent release of new
specialists who now have ample
with last year, alongside minimal regulations on risk management and the
opportunities for salary increases if they
adjustments of 2-5 per cent for inflation. upcoming topic of virtual banking licenses.
choose to move, considering they are also
Compliance is another key area that many
CORPORATE FINANCE FACES sought after within traditional banking.
banks are looking to improve and keep up
SLOWDOWN; MANDARIN SPEAKERS IN
JAPANESE BANKS MOVE AWAY FROM with new guidelines and regulations. Both
HIGH DEMAND
‘FRESH-GRAD’ HIRING MODEL AND AML and regulatory professionals will thus
As companies in China continue to expand TOWARDS RECRUITMENT AGENCIES remain highly sought after. Internal audit
and make acquisitions, there has been a positions will also see an upsurge
Senior management at many Japanese
corresponding demand for Mandarin following new outsourcing guidelines that
banks have strongly indicated a decrease in
speakers in investment banking/corporate limit the ability of foreign banks to
reliance on ‘fresh-grad’ hiring, partially due
finance sectors. The same applies to private outsource their audit functions to Group.
to the changing attitudes towards employer-
equity, where the majority of investments are
employee relationships in Japanese
driven by fast growing Chinese companies
across various sectors like TMT (technology,
corporate culture. Traditionally, graduates in SINGAPORE
Japan would take 1-3 years to get up to
media and telecom), healthcare and INNOVATION LED BANKING MODELS AND
speed but go on to dedicate a significant
consumer. Interestingly, top tier investment A VIBRANT FINTECH ECOSYSTEM WILL
portion of their entire careers to their first
banks are still opting for contracting or temp DRIVE PREMIUM PACKAGES
employer, making the initial downtime a
headcounts over permanent headcounts to
worthwhile investment for employers. But 2019 was a year of growth for Singapore’s
maintain flexibility.
Japanese banks are now losing out to banking & financial services industry, owing
2019 saw a decline of IPO deals in Hong foreign banks who offer higher salaries and to widespread consolidation in the industry.
Kong, resulting in a hiring slowdown for more flexible work environments for the A key trend observed is that of traditional
corporate finance professionals that will same level of candidates. banks adopting new, innovation-led
continue in 2020. banking models to thrive in the vibrant and
This trend is expected to continue this year,
competitive fintech ecosystem in
and will likely make Japanese banks even
Singapore. From a recruitment perspective,
JAPAN more competitive in the mid-career
we witnessed changing skillset demands, as
HEADCOUNTS RESTRICTED; BILINGUAL, candidate market.
well as employers’ willingness to pay
PROCESS IMPROVEMENT SKILLS IN premium to secure the best talent.
DEMAND MALAYSIA As a result of the drive towards innovation
While acquiring new headcount has been DOWNSIZING INDUSTRY SEES STABLE and digital partnerships, the candidates
restrained in IBD (investment banking
SALARY INFORMATION: BANKING & FINANCIAL SERVICES
HIRING BUT FLAT PAY RISES most in demand are product managers
divisions), asset management, risk and developers with strong knowledge of
Recruitment in Malaysia’s banking &
management, finance, compliance, internal payments, AI, Blockchain and API. MAS
financial services industry remained active
audit and other middle office functions, issuance of up to five digital banking
throughout 2019 despite more companies
replacement hiring continues to offer licenses in 2020 has opened up avenues
driving cost reduction projects to downsize
significantly competitive salary packages. for technology and non-banking firms to
and encourage efficiency. This has resulted
Bilingual talent in particular stand to see challenge traditional lenders. In general,
in relatively flat year-on-year salary
increased compensation in these areas. salary increments for front and middle
increments and bonuses across companies.
For risk functions, restrictions on new office candidates with skillsets that
But while hiring volumes have dropped,
headcounts have led to a focus on hiring straddle both finance and technology were
front liners and niche professionals such as
individuals who can make workloads significant in the last year and are
relationship managers in both corporate
more manageable for smaller teams by anticipated to rise even higher in 2020.
and retail segments, as well as audit, risk &
automating and streamlining processes. compliance professionals are still in demand ‘HUNTER’ PROFILES AND PREMIUM
This trend is expected to continue into due to regulatory and market requirements. BANKING SKILLS IN DEMAND
2020 across multiple quantitative functions, As a result, strong performers will still be
Regarding front office relationship
eventually leading to consolidation of able to command premium packages.
managers, we witnessed an increasing
functions and teams – as is already planned
FINANCE PROFESSIONALS WITH TECH demand from clients for experienced
at most major Japanese banks.
AND DIGITAL EXPERIENCE IN DEMAND “hunters”, or candidates with a strong
DISAPPOINTING PERFORMANCE BRINGS track record and network to leverage upon,
There has been an increased demand for
COST CUTTING AND COMPETITORS TO particularly within the ASEAN region. Both
tech and digital experience within the
THE FOREFRONT regional and global banks based in
financial services space. This is evident in the
Lower revenues and the subsequent increase Singapore are vying to grow their trade
mushrooming of fintech companies looking
in cost-cutting initiatives have led to reduced footprint in the buoyant ASEAN region
to disrupt traditional processes, with special
bonuses when compared to previous years. which houses ten nations and a population
attention to P2P lending, transaction
However, initiatives to improve work-life of 650 million. Given the SINO-American
banking and investment functions.
balance, particularly among Japanese banks, economic conflict, ASEAN will continue to
Candidates with relevant tech and digital
are providing employees with more flexibility be a “safe haven” for banks to propel the
expertise are currently in short supply and
than ever before. growth of their Corporate and Investment
are likely to attract competitive salary offers.
banking businesses. The key sectors in
focus are TMT (technology, media and
telecom), Healthcare and FMCG.
Prospective hiring of
graduates by Japan’s top Within retail and consumer banking, there is
banks in April 2020 is an increasing demand for personal bankers,
expected to be 27% down particularly experienced premium bankers.
year on year. Salary levels have remained competitive as
banks are also competing with emerging
peer-to-peer lending platforms in the race
Source: Nikkei Asian Review to attract the best talent.

FRONT OFFICE
Vice Managing
CORPORATE FINANCE, M&A, ECM/DCM Analyst Associate President Director Director
China 300 - 500 500 - 750 600 - 1,200 1,200 - 2,000 2,000 +
Hong Kong SAR 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 +
Singapore 70 - 90 90 - 130 130 - 220 220 - 350 350 +
ASSET MANAGEMENT Sales Senior Sales Head of Sales Junior Trader Trader
China 240 - 360 360 - 700 700 - 1,000 400 - 600 600 - 800
Hong Kong SAR 600 - 900 900 - 1,500 1,500 + 360 - 600 600 +
Japan 6 - 10 10 - 15 15 - 20 7.5 - 11 11.5 - 16
Malaysia 48 - 84 96 - 180 144 - 276 48 - 84 84 +
Singapore 50 - 70 75 - 110 120 - 180 65 - 90 95 +
Research Snr Research Head of Assistant Fund Chief Fund

Analyst Analyst Research Fund Manager Manager Manager
China 240 - 360 360 - 800 800 + 400 - 700 600 - 1,000 1,000 +
Hong Kong SAR 300 - 600 600 - 1,400 1,400 + 660 - 1,000 1,000 - 1,400 1,400 +
Japan 7 - 11 10 - 16 15 - 25 8 - 12 10 - 18 18 - 25
Malaysia 60 - 84 77 - 300 300 - 540 100 - 180 120 - 420 420 - 720
Singapore 60 - 80 80 - 120 130 + 130 - 150 150 - 220 250 +
Vice Managing
PRIVATE EQUITY Analyst Associate President Director Director
China 250 - 360 360 - 800 650 - 1,500 1,500 - 2,000 1,800 +
Hong Kong SAR 420 - 600 600 - 1,000 1,000 - 1,400 1,400 - 1,800 1,800 +
Japan 8 - 13 10 - 15 15 - 25 20 - 30 30 +
Malaysia 42 - 64 64 - 96 96 - 192 192 - 360 360 +
Singapore 70 - 100 100 - 150 150 - 180 180 - 250 250 +
Assistant Fund
HEDGE FUND - INVESTMENT Analyst Associate VP Fund Manager Manager
China 250 - 360 360 - 650 600 - 900 650 - 900 1,000 +
Hong Kong SAR 500 - 700 700 - 1,000 1,000 - 1,350 1,200 - 1,500 1,500 - 3,000
Japan 8 - 13 13 - 16 16 - 26 10 - 15 20 +
Malaysia 40 - 54 54 - 108 108 - 156 156 - 228 228 - 264
Singapore 80 - 110 110 - 140 140 - 180 180 - 250 250 +
NOTES
• Salaries are annual and represented in local currencies

FRONT OFFICE
Quantitative Snr Quantitative Senior
HEDGE FUND - EXECUTION Risk Analyst Risk Manager Analyst Analyst Trader Trader
China 500 - 800 800 - 1,200 1,000 + 500 - 1,000 500 - 800 600 - 1,200
Hong Kong SAR 400 - 700 720 + 1,000 + 1,500 + 400 - 800 800 +
Japan 10 - 12 12 - 15 12 - 15 15 - 25 15 - 25 20 - 30
Malaysia 40 - 72 72 - 114 114 - 168 168 - 216 216 - 288 288 +
Singapore 80 - 100 100 - 150 150 - 200 130 - 150 170 - 250 250 +
Quantitative Quantitative
GLOBAL MARKETS Junior Trader Trader Senior Trader Desk Head Analyst VP
China 250 - 400 400 - 800 800 - 1,500 1,500 + 300 - 500 500 - 800
Hong Kong SAR 300 - 540 600 - 1,200 1,200 - 1,900 1,500 + 600 + 850 +
Japan 8 - 11.5 12 - 20 20 - 30 30 - 40 8 - 12 11 - 21
Malaysia 90 - 150 150 - 276 240 - 360 360 + 60 - 90 90 - 190
Singapore 60 - 85 100 - 170 175 - 250 250 + 130 - 150 150 - 220
Quantitative Quantitative Associate VP Director MD

Director MD Structuring Structuring Structuring Structuring
China 800 - 1,500 1,500 + 300 - 600 600 - 900 800 - 1,500 1,500 +
Hong Kong SAR 1,200 + N/A 500 - 800 850 - 1,000 1,400 - 1,600 1,800 +
Japan 20 - 30 25 + 10 - 14.5 15 - 22 22 - 30 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, Vice Managing
RESEARCH, HEDGE FUNDS Associate President Director Director
China 300 - 500 500 - 1,200 1,200 - 2,000 2,000 +
Hong Kong SAR 500 - 800 800 - 1,200 1,200 - 2,000 2,000 +
Japan 10 - 14 15 - 22 22 - 30 30 +
Malaysia 60 - 90 90 - 190 190 - 350 350 +
Singapore 80 - 130 140 - 220 220 - 300 300 +
RESEARCH/STRATEGY Vice Managing

(FICC & EQUITY) Analyst Associate President Director Director
China 250 - 360 360 - 600 600 - 1,000 900 - 1,500 1,200 +
Hong Kong SAR 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 - 180 180 - 300 300 - 420 420 +
Singapore 70 - 90 100 - 140 150 - 200 200 - 300 300 +
NOTES

FRONT OFFICE
Assistant Senior
Relationship Relationship Relationship Department
CORPORATE BANKING Manager Manager Manager Team Head Head
China 180 - 240 240 - 500 480 - 1,000 780 - 1,320 1,320 +
Hong Kong SAR 230 - 450 310 - 780 700 - 950 950 - 1,350 1,350 +
Japan 7-9 9 - 14 13 - 20 18 - 22 22 +
Malaysia 66 - 96 96 - 180 168 - 300 240 - 360 360 +
Singapore 60 - 80 80 - 140 150 - 240 250 + 280 +
Assistant Senior
COMMERCIAL BANKING Manager Manager Manager Team Head Head
China 180 - 240 240 - 420 420 - 720 600 - 850 850 +
Hong Kong SAR 220 - 400 300 - 600 600 - 800 720 - 950 1,000 +
Japan 5-7 8 - 12 13 - 15 15 - 20 20 +
Malaysia 48 - 84 84 - 156 156 - 216 216 - 300 300 +
Singapore 50 - 70 70 - 120 120 - 150 150 - 200 200 +
Assistant Senior
SME BANKING Manager Manager Manager Team Head Head
China 80 - 180 180 - 360 360 - 480 420 - 800 800 +
Hong Kong SAR 200 - 300 300 - 540 540 - 700 650 - 850 900 +
Japan 5-8 7 - 11 11 - 15 14 - 18 19 +
Malaysia 39 - 60 60 - 108 108 - 192 192 - 228 228 +
Singapore 50 - 70 70 - 120 120 - 150 150 - 200 200 +
Assistant Senior
FINANCIAL INSTITUTIONS BANKING Manager Manager Manager Team Head Head
China 180 - 240 240 - 500 480 - 1,000 900 - 1,320 1,320 +
Hong Kong SAR 250 - 400 400 - 600 600 - 960 960 - 1,350 1,350 +
Japan 6-9 10 - 14 15 - 18 18 - 22 22 +
Malaysia 48 - 84 84 - 156 156 - 216 216 - 300 300 +
Singapore 60 - 85 90 - 130 130 - 200 200 - 250 250 +
TRANSACTION BANKING Assistant Senior

(CASH MANAGEMENT, TRADE FINANCE, Relationship Relationship Relationship Department
PROJECT & EXPORT FINANCE) Manager Manager Manager Team Head Head
China 180 - 240 240 - 420 420 - 960 960 - 1,200 1,200 +
Hong Kong SAR 300 - 480 480 - 720 720 - 1,200 1,200 - 1,600 1,600 +
Japan 6-9 10 - 14 15 - 18 18 - 22 22 +
Malaysia 48 - 84 84 - 156 156 - 276 216 - 384 384 +
Singapore 60 - 80 80 - 130 130 - 200 200 - 250 250 +
NOTES

FRONT OFFICE
Premier Banking Private Banking
FINANCIAL PLANNING & Senior Wealth Relationship Client Services
WEALTH MANAGEMENT Wealth Manager Manager Manager Officer
China 200 - 360 390 - 650 200 - 350 260 - 360
Hong Kong SAR 300 - 480 480 - 720 360 - 600 400 - 700
Japan 7 - 11 10 - 12 8 - 12 7-9
Malaysia 36 - 60 60 - 144 54 - 150 70 - 90
Singapore 36 - 42 45 - 48 52 - 84 45 - 72
Private Banking Senior Private Banking

Relationship Relationship
Manager Manager Sales Manager Sales Director
China 500 - 800 800 - 1,300 800 - 1,200 1,200 +
Hong Kong SAR 500 - 1,000 1,200 - 3,000 600 - 1,200 1,200 +
Japan 8 - 12 12 - 15 15 - 18 18 +
Malaysia 84 - 144 144 - 216 186 - 236 236 - 352
Singapore 70 - 140 150 - 250 70 - 100 120 - 180
NOTES

MIDDLE OFFICE
TRADE SUPPORT Analyst Associate AVP Vice President Director
China 120 - 210 180 - 320 360 - 600 600 - 840 840 +
Hong Kong SAR 300 - 400 400 - 600 600 - 800 800 - 1,000 1,000 +
Japan 6-8 8 - 10 10 - 14 15 - 20 20 +
Malaysia 54 - 60 60 - 108 108 - 144 144 - 216 216 +
Singapore 50 - 70 70 - 90 90 - 130 140 - 180 200 +
COLLATERAL MANAGEMENT/
CLIENT VALUATIONS Analyst Associate AVP Vice President Director
China 180 - 250 240 - 420 420 - 600 600 - 840 840 +
Hong Kong SAR 150 - 300 300 - 500 500 - 700 700 - 900 900 +
Japan 6-8 8 - 10 10 - 14 15 - 20 20 +
Malaysia 60 - 72 72 - 120 120 - 156 156 - 216 216 +
Singapore 50 - 70 70 - 90 90 - 130 130 - 200 200 +
CHANGE MANAGEMENT/ Head of Project

PROJECT MANAGEMENT Business Analyst Project Manager Management
China 240 - 360 340 - 800 800 +
Hong Kong SAR 350 - 500 500 - 1,000 1,000 +
Japan 8 - 12 13 - 18 20 +
Malaysia 96 - 168 120 - 288 288 +
Singapore 60 - 130 130 - 220 220 +
Client Service/ Client Service/ Head of Client

Product Senior Product Reporting Reporting Service/
ASSET MANAGEMENT Manager Manager Specialist Manager Reporting
China N/A N/A N/A 480 - 840 840 +
Hong Kong SAR 600 - 780 780 - 960 480 - 720 720 - 960 960 +
Japan 7 - 11 10 - 18 8 - 10 10 - 12 12 - 15
Malaysia 78 - 138 138 - 300 108 - 156 156 - 216 216 +
Singapore 80 - 120 135 - 180 70 - 110 120 - 160 180 - 220
NOTES

MIDDLE OFFICE
PERFORMANCE MEASUREMENT/
INVESTMENT RISK Associate/AVP Vice President Head
China 240 - 600 600 - 960 960 +
Japan 7 - 14 11 - 18 16 - 24
Malaysia 120 - 180 180 - 300 300 +
Singapore 100 - 150 150 - 200 200 - 250
TRANSACTION BANKING
CLIENT SERVICE Officer Associate AVP Vice President Director
China 120 - 240 240 - 360 360 - 600 600 - 800 660 +
Hong Kong SAR 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
China 180 - 240 240 - 360 360 - 600 600 - 800 800 +
Hong Kong SAR 240 - 300 300 - 420 420 - 600 600 - 800 800 - 1,050
Japan 6 - 7.5 8 - 10 11 - 13 14 - 18 18 +
Malaysia 48 - 60 60 - 108 108 - 180 180 - 240 240 +
Singapore 50 - 70 80 - 110 120 - 150 160 - 220 250 +
INVESTMENT CONSULTANT Analyst Associate Manager

China 240 - 380 360 - 500 500 +
Hong Kong SAR 240 - 360 360 - 480 500 - 1,200
Malaysia 54 - 72 72 - 162 162 +
Singapore 60 - 85 90 - 120 150 +
Senior Associate/
PRODUCT MANAGEMENT Analyst Associate Manager
China 220 - 320 300 - 360 360 - 480
Hong Kong SAR 260 - 360 360 - 840 840 +
Japan 6-7 8 - 10 10 - 11
Malaysia 60 - 84 84 - 156 144 - 204
Singapore 55 - 85 80 - 100 100 - 160
NOTES

BACK OFFICE
CORPORATE ACTIONS/SETTLEMENTS Analyst Associate AVP VP Director
China 120 - 180 180 - 300 300 - 480 480 - 700 700 +
Hong Kong SAR 160 - 250 250 - 350 350 - 550 550 - 700 700 +
Japan 6-8 8 - 10 10 - 13 13 - 17 15 - 18
Malaysia 42 - 72 72 - 96 96 - 150 150 - 200 200 +
Singapore 42 - 60 65 - 85 90 - 130 130 - 180 180 +
DOCUMENTATION/KNOW YOUR CLIENT/

CLIENT ONBOARDING Analyst Associate AVP VP Director
China 120 - 180 180 - 300 300 - 480 480 - 700 700 +
Hong Kong SAR 180 - 350 350 - 500 500 - 900 900 - 1,200 1,200 +
Japan 6 - 7.5 8 - 10 10 - 13 13 - 18 18 +
Malaysia 54 - 78 78 - 102 102 - 150 150 - 180 180 - 264
Singapore 50 - 70 70 - 90 90 - 120 130 - 180 200 +
BANKING OPERATIONS
(TREASURY OPS, MM, FX) Officer Associate AVP VP Director
China 120 - 180 180 - 300 300 - 480 480 - 700 700 +
Hong Kong SAR 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 - 264 240 +
Singapore 40 - 60 60 - 85 80 - 120 120 - 180 200 +
TRANSACTION BANKING OPERATIONS Officer Associate AVP VP Director

China 120 - 180 180 - 300 300 - 480 480 - 700 700 +
Hong Kong SAR 180 - 300 300 - 420 420 - 540 540 - 750 750 +
Japan 6 - 7.5 8 - 10 10 - 13 13 - 17 18 +
Malaysia 48 - 60 60 - 96 96 - 150 150 - 225 225 +
Singapore 55 - 70 75 - 100 100 - 135 140 - 190 200 +
LOAN ADMINISTRATION/CREDIT OPERATION Officer Associate AVP VP Director

China 120 - 180 180 - 300 300 - 480 480 - 700 700 +
Hong Kong SAR 180 - 300 300 - 400 400 - 600 600 - 800 800 +
Japan 6 - 7.5 8 - 10 10 - 13 13 - 17 18 +
Malaysia 48 - 60 60 - 84 84 - 144 144 - 200 200 +
Singapore 42 - 65 65 - 90 90 - 120 130 - 200 200 +
Senior
FUND OPERATIONS Administrator Administrator Manager VP Director
China 120 - 180 180 - 300 300 - 480 480 - 700 700 +
Hong Kong SAR 250 - 350 380 - 480 480 - 840 800 - 1,100 1,000 - 1,400
Japan 6-8 8 - 10 10 - 12 8 - 12 15 +
Malaysia 54 - 72 72 - 96 96 - 156 110 - 216 216 +
Singapore 40 - 55 55 - 80 80 - 120 120 - 200 200 +
NOTES

RETAIL
Branch Regional/
BRANCH MANAGEMENT Sub Branch Manager Manager District Manager
China 400 - 500 500 - 800 800 +
Hong Kong SAR 520 - 720 620 - 800 900 +
Japan N/A 10 - 12 13 +
Malaysia 84 - 108 120 - 180 180 - 264
Singapore N/A 50 - 75 80 - 110
OPERATIONAL BRANCH STAFF Teller Supervisor Operations Manager

China 60 - 120 120 - 240 240 - 360
Hong Kong SAR 100 - 150 200 - 300 300 +
Japan 3-4 5-8 8 - 10
Singapore 20 - 30 42 - 47 60 - 100
Assistant Relationship Senior Relationship

RELATIONSHIP MANAGEMENT Relationship Manager Manager Manager Sales Manager
China 120 - 180 180 - 300 300 - 360 360 - 600
Hong Kong SAR 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 55 - 85 90 - 120 130 - 150 180 +
MORTGAGE Specialist Senior Specialist Team Head Region Head

China 120 - 240 180 - 300 300 - 600 600 +
Hong Kong SAR 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 Head Region Head
China 120 - 240 240 - 300 300 - 600 600 +
Hong Kong SAR 180 - 280 360 - 500 700 - 850 1,000 +
Japan 4-6 6-9 9 - 12 13 +
Malaysia 54 - 66 66 - 96 96 - 144 144 - 243
Singapore 50 - 75 80 - 100 120 - 150 180 +
NOTES

CONSTRUCTION & ENGINEERING
CHINA SINGAPORE LUXURY PRIVATE PROPERTY PROJECTS

ON AN UPWARD TREND
RESTRUCTURING EXPECTED IN NEW GOVERNMENT PROJECTS
INTERNATIONAL EPC AND EPCM FIRMS ARE INCREASING DEMAND FOR Private property projects have also seen a
CIVIL ENGINEERS WITH PUBLIC boost in light of recent political turmoil within
China is seeing an unprecedented competitors in the region. Projects in the
INFRASTRUCTURE EXPERIENCE
slowdown in project investment from luxury segment in Singapore have become
International MNCs, driving engineering, The construction & engineering industry in well sought-after among Asian investors and
procurement and construction (EPC) and Singapore steadily picked up towards the high net worth individuals looking to
engineering, procurement and end of 2019. This was largely fuelled by recalibrate their investment portfolios.
construction management (EPCM) public/government-related projects such
companies to adjust their strategy to focus as the opening of new MRT lines and the INDUSTRY 4.0 WILL SEE GREATER
on domestic projects instead. As a result, construction of the North-South Corridor. CONVERGENCE OF TECHNOLOGY AND
candidates with suitable domestic With the first three stations of the brand- TRADITIONAL MANUFACTURING
experience are expected to be in high new Thomson-East Coast line slated to Exciting times lie ahead for both job
demand throughout 2020. open by the end of January 2020, the seekers and employers within the fields of
construction of the remaining stations is robotics and automation, considering the
CANDIDATES WITH FOCUSED PROJECT
also in the pipeline. 2020 will also see the growing convergence of technology with
EXPERIENCE PREFERRED
commencement of construction works for traditional manufacturing in industries like
SALARY INFORMATION: CONSTRUCTION & ENGINEERING

The market is moving towards a preference the first five stations of the Jurong aerospace, chemicals, electronics, marine
for candidates with focused experience in Regional Line. and offshore. As companies cut down on
one line of project, as compared to those labour redundancies and move towards
This has led to increased demand for civil
who have several kinds of project leaner corporate structures, we are likely
and structural engineers – both main and
experience from different industries. to see a greater demand for highly-skilled
subcontractors, with an added emphasis
However, we have observed healthcare labour in traditional manufacturing and
on talent with experience in government
projects like hospital and nursing home heavy industries.
infrastructure projects. Given the shortage
projects being open to and attracting
of local talent within the civil engineering
candidates from the hospitality industry, as
field, we have seen an upward trend in
both are similar in their construction.
salary levels, particularly for mid-level
RENOVATION AND OFFICE PROJECTS project and design engineers. This trend is
ON THE RISE; WORKPLACE PLANNERS likely to continue steadily, considering the
IN DEMAND stringent requirements in place for
Workplace solutions that can help employees working on government
optimise office spaces and enhance the projects and the pipeline of public
employee experience have gained infrastructure projects that will continue
increasing importance in recent years. As a over the new few years.
result, there is a significant push for
projects in workplace excellence which is The planned Rapid Transit System (RTS)
expected to impact the industry in 2020. project that will run between Johor
The newly created position of ‘workplace Bahru and Singapore will utilise the
planner’ is also gaining popularity in some light rail transit (LRT) form.
design firms as an in-house role in big
corporates. The role will include routine
design work and is expected to be more
stable than traditional architecture and
urban design roles. It remains to be seen if
employers will give candidates with a
background in industrial projects a chance
to transform into such office project roles.
Source: New Straits Times

CONSTRUCTION
CONSTRUCTION CIVIL Foreperson Site Engineer Project Engineer Design Manager Project Manager
China N/A 100 - 180 150 - 300 325 - 550 350 - 700
Singapore 50 - 80 60 - 75 78 - 96 100 - 140 105 - 150
Senior Project Construction Resident

Manager Manager Technical Officer Planner Estimator
China 400 - 800 240 - 550 N/A 150 - 350 150 - 450
Singapore 125 - 200 90 - 120 55 - 90 60 - 120 120 - 240
Contracts Administrator/ Contracts Administrator/

Quantity Surveyor - Entry-level Quantity Surveyor - Senior
China 96 - 180 180 - 360
Singapore 45 - 85 70 - 125
Project Design
CONSTRUCTION BUILDING Foreperson Site Engineer Engineer Manager
China N/A 100 - 180 150 - 300 350 - 600
Singapore 55 - 75 60 - 75 70 - 90 100 - 125
Senior Project Construction

Project Manager Manager Manager Planner Estimator
China 300 - 600 800 - 1,000 300 - 500 300 - 500 350 - 600
Singapore 102 - 140 108 + 100 - 120 85 - 100 150 +
Contracts Administrator/ Contracts Administrator/

Quantity Surveyor - Entry-level Quantity Surveyor - Senior
China 150 - 250 300 - 550
Singapore 55 - 70 70 - 95
HVAC Engineer MEP Engineer

China 120 - 300 150 - 350
Singapore 50 - 85 65 - 90
Business Business
Development Project Development Development
CONSTRUCTION DEVELOPMENT Manager Manager Manager Director
China 300 - 500 300 - 500 300 - 600 1,000 - 1,500
Singapore N/A 115 - 170 120 - 180 N/A
NOTES

ENGINEERING
DESIGN CONSULTANCY CAD Design Graduate Design Senior
- BUILDING SERVICES Drafter CAD Manager Design Engineer Engineer Design Engineer
China N/A 220 - 450 70 - 130 200 - 350 300 - 500
Singapore 35 - 50 55 - 100 36 - 42 55 - 78 72 - 96
Principal Project Associate/ Principal/ Resident

Design Engineer Manager Senior Associate Director Engineer
China 370 - 550 300 - 600 550 - 900 900 - 1,200 300 - 550
Singapore 100 + 75 - 108 120 - 180 180 + 84 - 120
DESIGN CONSULTANCY CAD Design Graduate Design Senior

- CIVIL & STRUCTURAL Drafter CAD Manager Design Engineer Engineer Design Engineer
China N/A 250 - 350 130 - 200 150 - 300 240 - 400
Singapore 35 - 50 55 - 100 36 - 42 55 - 78 72 - 132
Principal Project Associate/ Principal/ Resident

Design Engineer Manager Senior Associate Director Engineer
China 300 - 450 350 - 600 350 - 500 700 - 900 250 - 400
Singapore 100 + 90 - 108 120 - 180 180 + 84 - 120
NOTES

DIGITAL TECHNOLOGY
CHINA Alongside integrating the traditional HONG KONG SAR

functions and features of retail into
GEOPOLITICAL TENSIONS RENDER technology, there has been an increase in BRIGHT FUTURE FOR DIGITAL
MARKET GROWTH SLOW BUT STEADY strategic conversations within the industry PROFESSIONALS; SALARIES INFLATED
regarding business direction and how IT BY TALENT SHORTAGE
China’s digital technology market saw
steady growth in 2019, albeit at a slower architecture can be changed to support The digital technology market in Hong
pace than the last two years owing to a future growth. There has also been more Kong is expected to continue seeing
variety of geopolitical tensions and exploration of how the omni-channel strong growth in 2020, owing to the
economic pressures in the region. However, model relates to a retailer’s evolving continued implementation of new
it is expected to gather pace once again in processes, which has led to a focus on technologies across industries.
2020. Interestingly, the US-China trade war tracking and streamlining operations
through technology. The financial services industry has started
and the resulting challenges faced by
to put more emphasis on predicting future
domestic businesses could actually result in These trends are likely to elevate salaries events by adopting advanced analytics
more opportunities for the tech market. and create a high demand for candidates and machine learning technology. As a
DIGITAL TRANSFORMATION OPENS with experience in omni-channel retail, result, 2019 saw an increased need for
OPPORTUNITIES FOR EMERGING TECH e-commerce, e-payments and other data scientist candidates within financial
related technologies. services that is expected to continue in the
More than ever before, businesses are
coming year. Front-end developers and
looking at technology to address
cloud architect roles have also increased in
operating inefficiencies as well as create “Digital technology is transforming the the market.
new ways to reach and retain their retail industry in the Greater Bay Area.
customers. This renewed focus on digital As data analytics drives growth for Since talent in these areas is currently
transformation is anticipated to create a companies and consumers become limited, candidates with domain
strong hiring shift towards candidates with more tech-savvy, expectations knowledge in these fields are highly
expertise in emerging technologies like for faster and better ways of doing desired and are able to draw high salary
business are rising.”
SALARY INFORMATION: DIGITAL TECHNOLOGY
robotic process automation (RPA), IoT, AI, increments. For the same reason.
Blockchain and Machine Learning. The companies that are willing to train and
same shift will lead to higher salary develop new joiners will be able to cut
expectations as well, and employers may their time to hire dramatically. The
need to prepare extra budget when demand in this space has also made it
setting up or investing in an emerging more common for candidates to move
technologies team. companies after just 1-2 years in their
current role. This has also driven salaries
Taking a broader look, we have observed
up as candidates still expect 10-15%
increased investment in digital tech
increments at every jump. A
projects across a range of traditional
recommended strategy to help
industries in an effort to increase
organisations combat this is to hire from
innovation. This can be seen in sectors like
overseas. While language skills may be an
payments, agriculture, transport, food and
issue in this case, the strong technical
hospitality which were not tech-driven
knowledge such candidates can bring will
previously. But with the rise of IoT and AI,
be immensely beneficial to the projects
there has been a significant surge in
currently happening in Hong Kong.
emerging-tech related jobs that will
undoubtedly provide exciting DATA PROFESSIONALS IN HIGH DEMAND;
opportunities and projects in these areas. SALARIES & INCREMENTS AT A HIGH
Source: Alice Yip, KPMG China partner and head
RETAIL INDUSTRY UNDERGOES MAJOR of consumer & industrial markets (Hong Kong) With the announcement of several virtual
SHIFT TO OMNI-CHANNEL RETAIL banking licenses, an increasing demand
for data scientists and data governance
Digitalisation has led to a massive
professionals will be expected to help
transformation in China’s retail industry.
these businesses set up their data
Retailers are reconsidering the way they go
framework and business models. Outside
to market and the impact of customer
of virtual banking, another trend being
experience on attracting and retaining
seen in the market is the setting up of
shoppers. Omni-channel retail has thus
‘innovation labs’. Some progressive firms
become a top priority for most businesses as
are taking it even further and creating new
it presents opportunities to be competitive,
start-up companies internally that, similar
capture new market opportunities and grow
to virtual banks, will leverage the
their top line.

company’s current strengths but apply the Apart from these two sectors, the global been growing but is unable to be met by
newest technologies to grow the business. growth of online web activities continues the small pool of candidates in the market.
These new companies will be hubs for with a consistent demand for AI, big data, Candidates with skillsets or experience in
innovation and will tackle the newest and cloud engineers or specialists, as well automation tools and microservices, as
business challenges by applying new as digital transformation consultants. well as build and release engineering on
technologies and proving use cases that cloud, are also hard to find.
Overall, no major salary increases are
then can be implemented into other areas
expected in the various sectors when DEMAND FOR CYBER SECURITY
of the firm.
compared to previous years, with the PROFESSIONALS TO GROW
exception of engineer roles involved in EXPONENTIALLY
The demand for new digital technologies
5G development.
will continue to have strong growth as IT security in 2020 will go beyond just
companies transition to using data for more protecting sensitive data and keeping
informed decision making. More financial MALAYSIA hackers at bay, and more towards
services companies are also engaging new scientific and business opportunities in big
IT MARKET PROGRESSES TOWARDS
technology to transform their business. In data, artificial intelligence, and cooperation
MORE EMERGING TECH
addition, local regulatory bodies have also on data and IT security. The function will
been tightening their governance on data Technology has now become a also focus on enabling organisations to
quality and assurance, once again requiring cornerstone across all industries, with collaborate and monetize their data
data governance and data scientists to 2020 expected to be a year of new use without being exposed to privacy
set up the local offices. This high demand cases and possibilities. The IT market is breaches or misuse of data.
has resulted in high expectations of salary currently undergoing a period of
Smart data technologies used to only be
packages and increments. redefinition in anticipation of future
actively applied by huge enterprises and
technology growth, marked by a rising
corporations; but today, big data has
demand for newer technologies like AI,
JAPAN machine learning, big data and cloud from
become available to a wide range of small
businesses and companies. The related
ONGOING TECH BOOM CONTINUES TO big players in the market.
functions of analytics and machine
DRIVE INDUSTRY
DIGITAL PRODUCT MANAGERS WITH learning have consequently become highly
Carrying forward from 2018 and 2019, BUSINESS ACUMEN IN HIGH DEMAND sought-after in the market, alongside
professionals in digital technology robotic process automation (RPA) skillsets
One of the most noticeable ongoing
continue to be in high demand owing to that can apply game-changing automation
trends is an increasing demand for digital
the ongoing tech and fintech boom in technology. As a result, data scientists and
product management skills. More
Japan. Alongside the expansion of machine learning specialists are some of
organisations are looking for product
blockchain activities as well as online and the most highly sought-after candidates
managers who display strong technical
mobile payments, this demand is also within the current IT market.
knowledge and can also act as the voice
spurred by new IT projects like the
of a product. Product candidates with
implementation of 5G (fifth generation
strong communication skills and
wireless networks) in the country, and
commercial acumen will be able to draw
general growth in online activities.
salaries up to five per cent higher than
DRIVE FOR CASHLESS PAYMENTS SPURS traditional product managers.
DEMAND FOR NATIVE WEB/MOBILE
UX, PRODUCT AND CLOUD TALENT
DEVELOPERS
SHORTAGE TO CONTINUE IN 2020
To progress from a culture that still
A key talent shortage that both MNCs and
transacts mainly in cash, the Japanese
start-ups are struggling with currently is
government is making significant efforts to
local candidates with UX and product
promote and facilitate more cashless
experience. This is because candidates
payments. This includes a target to
with relevant experience tend to prefer
increase the rate of cashless payment
working in Singapore or more mature
transactions to 40% by 2025, leading many

markets like the U.S. or Australia.
organisations to begin locally developing
systems to cope with the surge in demand.
Web/mobile development has become a The Prime Minister for Malaysia,
huge area of demand in this respect. Tun Dr Mahathir Mohamad announced
Owing to the domestic nature of the in mid-2019 that the country would be
mobile payment industry, employers embarking on a comprehensive
digitalisation journey to transform
would rather hire developers who can Malaysia’s tourism industry towards
speak fluent /native level Japanese over smart tourism initiatives.
bilingual engineers. Companies are also
looking to hire junior engineers and train
them on the job, as the industry is
relatively new and highly qualified native
talent may be hard to find.
Cashless payment systems are also
required to have strong security, leading
to a rise in demand for cyber security
specialists from both in-house and vendor
side organisations.
LAUNCH OF 5G TO GIVE EXPERIENCED
ENGINEERS A REMUNERATIVE EDGE
Japan’s plan to launch commercial 5G Source: The Star
services in 2020 is currently underway,
with a number of Japanese mobile carriers
in the process of completing construction
of their networks. This has led to demand The majority of companies across
and attractive remuneration for talent with industries now rely on cloud computing
5G related knowledge, including and consequently, the space is expected
researchers and network, optical or to see growth over the coming year. The
telecommunications engineers. demand for cloud and dev-ops talent has

SINGAPORE MORE COMPANIES SEEK NEWER ‘Candidates in
PROGRAMMING LANGUAGES
A PARADIGM SHIFT IN ENTERPRISE
READINESS: CANDIDATES WILL FACE As predicted last year, we have seen a Singapore can afford
sharp increase of companies leveraging on
MORE SCRUTINY THAN EVER BEFORE
AI and machine learning (ML) technologies to play hardball
If 2018 was about the proliferation of to grow their businesses. This has, in turn,
digital technology, 2019 witnessed a driven the demand for backend developers due to the number
paradigm shift in enterprise readiness with expertise in C++, Java and Python,
where a majority of organisations coupled with a good understanding of of opportunities
successfully evolved from ‘being aware but data structures and algorithms, as well as
lacking confidence’ to accepting and the ability to develop and utilise APIs. On in the market.’
proactively supporting the adoption of the front-end, we see a continued increase
emerging technologies. This was likely in the adoption of newer JavaScript
motivated by the rising number of frameworks like Angular, React, and Ember
celebrated use cases that have proven as users become more tech savvy and look
very successful across respective for cleaner, less cluttered and more
industries. Demand remains steadfast and intuitive interfaces. Containerisation tools
companies are evidently taking a more like Docker and Kubernetes are also
proactive and hands-on approach when it seemingly becoming a necessity as
comes to hiring in an effort to combat the businesses are increasingly looking
ever talent-short market. towards microservice architectures to scale
In addition, the mounting prevalence of their applications. With cloud infrastructure
technical assessments such as white taking increasing dominance over
boarding and pair-programming sessions on-premises hardware, software engineers
suggests that companies are increasingly with experience developing and deploying
serious about distinguishing real, solid applications on AWS, GCP, Microsoft Azure
candidates from the rest of the ‘noise’. or any private cloud will have a strong
This means aspirants who are serious edge over those who do not.
about pursuing technical roles will need to DATA ENGINEERS, HYBRID ROLES ON
polish their approach and skills more than THE RISE
ever before.
2019 also saw a surge in demand for data
COMPANIES LOSE OUT IN BATTLE engineers as a result of the wider adoption
BETWEEN INTERNAL PAY PARITY AND of big data and the increasing need for
ACKNOWLEDGING SKILLS IN DEMAND organisations to have real-time analytics.
2019 saw some of the most aggressive The most sought after candidates are
counter-offer strategies from companies in typically software engineers with coding
order to retain their best talent. At the prowess in Java/Python, coupled with
same time, the market is increasingly solid expertise in big data tools like
faced with candidates who have multiple Hadoop, Spark, and Kafka. We expect this
offers in hand. Predictably, wage pressure demand to continue into 2020, alongside
continues to intensify for candidates with a new breed of trending roles that are
skills in demand, and we are seeing a rise hybrid in nature. Examples of these
in the number of companies struggling to include business intelligence/analyst
meet desired salaries in lieu of ‘internal positions, that thread between insights,
parity’ and losing out as a result. With the analytics and marketing functions, and
technology and banking sector leading the ‘data science evangelists’ who require a
way in ‘paying by skill and not by blend of data science know-how and
experience’, 2020 should see more strong consulting experience to obtain

businesses finding the balance between stakeholder buy-in.
internal equity and acknowledging the
value of skills in demand.

DIGITAL TECHNOLOGY
Full-Stack Developer Mobile Developer Server-side Developer

DEVELOPMENT/DESIGN (Java/JavaScript) (Java/JavaScript) (Java/JavaScript)
China 350 - 650 300 - 500 300 - 600
Hong Kong SAR 450 - 750 450 - 750 360 - 660
Japan 5 - 12 5 - 12 5 - 12
Malaysia 72 - 204 60 - 204 60 - 120
Front-End Developer Web Designer Product Manager

(Java/JavaScript) (Java/JavaScript) (Dev/Ux/Ui/BA)
China 350 - 550 250 - 500 N/A
Hong Kong SAR 450 - 750 216 - 420 N/A
Japan 5 - 12 5 - 12 5 - 12
Malaysia 60 - 168 60 - 108 100 - 300

(MS.Net/Objective C/Swift) (MS.Net/Objective C/Swift) (MS.Net /Objective C/Swift)
China 350 - 550 300 - 500 300 - 600
Hong Kong SAR 240 -540 300 - 660 240 - 540
Japan 5 - 12 5 - 12 5 - 12
Malaysia 72 - 180 72 - 192 72 - 156
Front-End Developer Web Designer

(MS.Net/Objective C/Swift) (MS.Net/Objective C/Swift)
China 300 - 500 250 - 500
Hong Kong SAR 240 - 480 216 - 420
Japan 5 - 12 N/A
Malaysia 72 - 144 60 - 96

(UI/UX/HTML/CSS) (UI/UX/HTML/CSS) (UI/UX/HTML/CSS)
China 400 - 600 300 - 500 300 - 600
Hong Kong SAR 300 - 660 300 - 660 264 - 540
Japan 4-8 4-8 4-7
Malaysia 72 - 180 60 - 180 60 - 180
Front-End Developer Web Designer UX/UI Designer

(UI/UX/HTML/CSS) (UI/UX/HTML/CSS)
China 300 - 550 250 - 450 N/A
Hong Kong SAR 300 - 660 240 - 840 360 - 600
Japan 4-9 4-8 4-8
Malaysia 60 - 120 84 - 180 60 - 240
NOTES

DIGITAL TECHNOLOGY
Full-Stack Developer Mobile Developer Server-side Developer Front-End Developer

DEVELOPMENT (Java/Ruby/Python) (Java/Ruby/Python) (Java/Ruby/Python) (Java/Ruby/Python)
Japan 5 - 12 5 - 12 5 - 12 5 - 12
Full-Stack Developer Back-End Developer Front-End Developer

Japan 5 - 12 5 - 12 5 - 12
Singapore 75 - 130 70 - 110 70 - 110
Mobile Developer Mobile Developer Mobile Developer

(Native iOS) (Native Android) (Hybrid/Cross-Platform)
Japan 4-8 4-8 4-8
Singapore 70 - 120 70 - 120 70 - 120
Web Designer Mobile App Designer 2D / 3D CG Artist UI / UX Designer

DESIGN (HTML/CSS/GIMP) (HTML/CSS/GIMP) (HTML/CSS/GIMP) (HTML/CSS/GIMP)
Japan 4-8 4-8 4-9 4 - 10
Web Designer Mobile App Designer 2D / 3D CG Artist UI/UX Designer

(Maya/3ds Max/ (Maya/3ds Max/ (Maya/3ds Max/ (Maya/3ds Max/
Adobe Suite) Adobe Suite) Adobe Suite) Adobe Suite)
Japan 4-8 4-8 4-9 4 - 10
Data Scientist Data Engineer Business Intelligence

BIG DATA (Hadhoop/Scala) (Hadhoop/Scala) (Hadhoop/Scala)
China 500 - 1,000 300 - 450 320 - 500
Hong Kong SAR 420 - 780 420 - 780 420 - 780
Japan 8 - 12 6 - 11 8 - 15
Malaysia 120 - 276 120 - 216 120 - 216
Data Scientist Data Engineer Business Intelligence

(R/SQL/MS.Excel) (R/SQL/MS.Excel) (R/SQL/MS.Excel)
China 450 - 800 250 - 450 300 - 500
Hong Kong SAR 420 - 780 420 - 780 420 - 780
Japan 8 - 12 6 - 11 8 - 15
Malaysia 144 - 300 144 - 240 96 - 192
Data Scientist
(Machine Learning Business Analytics
ANALYTICS & BIG DATA & AI) (Insights & Analytics) Data Analyst
Japan 6 - 10 8 - 10 5-8
Singapore 60 - 180 72 - 150 42 - 72
Machine Learning
ANALYTICS & BIG DATA Data Engineer Engineer Business Intelligence
Japan 5-8 6 - 10 8 - 10
Singapore 60 - 120 60 - 150 60 - 120
NOTES

DIGITAL TECHNOLOGY
Cloud Engineer Cloud Architect Cloud Consultant

CLOUD (AWS/Azure/GCP) (AWS/Azure/GCP) (AWS/Azure/GCP)
China 300 - 500 500 - 750 350 - 520
Hong Kong SAR 480 - 660 740 - 1,080 700 - 1,100
Japan 5 - 10 8 - 13 7 - 12
Malaysia 120 - 216 180 - 300 180 - 300

(Lambda) (Lambda) (Lambda)
China 300 - 400 500 - 700 350 - 450
Hong Kong SAR 480 - 660 720 - 1,080 720 - 1,080
Japan 7-9 8 - 13 7 - 12
Malaysia 120 - 216 180 - 300 180 - 300

Singapore 70 - 120 95 - 180 80 - 150
Solution Architect - IOT IOT Engineer Engineer - IOT Innovation

(Predix/HCP IoT/ (Predix/HCP IoT/ (Predix/HCP IoT/
IOT ThingWorx/Azure) ThingWorx/Azure) ThingWorx/Azure)
China 650 - 1,000 300 - 500 350 - 450
Hong Kong SAR 720 - 1,080 480 - 660 480 - 660
Japan 8 - 13 5-8 5-8
Malaysia 240 - 384 168 - 264 180 - 360
IOT Solution Architect - IOT IOT Engineer Engineer - IOT Innovation

Singapore 90 - 180 80 - 120 90 - 150
NOTES

DIGITAL TECHNOLOGY
Incident Respond Cybersecurity Malware Reverse
Digital Forensics Specialist Consultant Engineer
(EnCase/Blacklight/ (EnCase/Blacklight/ (EnCase/Blacklight/ (EnCase/Blacklight/
CYBERSECURITY Wireshark) Wireshark) Wireshark) Wireshark)
China 300 - 480 280 - 450 400 - 600 300 - 450
Hong Kong SAR 360 - 720 600 - 1,200 360 - 1,200 360 - 720
Japan 8 - 14 10 - 15 8 - 13 8 - 13
Malaysia 180 - 360 168 - 300 216 - 300 240 - 360

Digital Forensics Specialist Consultant Engineer
(Blackduck) (Blackduck) (Blackduck) (Blackduck)
China 300 - 450 250 - 350 350 - 500 300 - 450
Hong Kong SAR 320 - 640 540 - 1,080 780 - 1,080 480 - 720
Japan 8 - 14 10 - 15 8 - 13 8 - 13
Malaysia 240 - 360 168 -300 216 - 300 240 - 360

CYBERSECURITY Digital Forensics Specialist Consultant Engineer
Singapore 100 - 180 110 - 150 90 - 120 120 - 150
Security Operations Threat Intelligence

Center Analyst Penetration Tester Analyst CISO
Singapore 50 - 100 60 - 140 80 - 200 150 - 400
AI Global Solution Deep Learning Machine Learning

AI Developer Architect Project Manager Engineer
AI (Java/C/C++/Python) (Java/C/C++/Python) (Java/C/C++/Python) (Python/Algorithms)
China 350 - 800 500 - 1,000 450 - 850 N/A
Hong Kong SAR 420 - 960 840 - 1,200 900 - 1,320 780 - 1,080
Japan 6 - 12 9 - 13 8 - 12 N/A
Malaysia 80 - 192 180 - 360 180 - 360 80 - 192
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)
China 350 - 800 500 - 1,000 450 - 850
Hong Kong SAR 420 - 960 840 - 1,200 480 - 960
Japan 6 - 12 9 - 13 8 - 12
Malaysia 144 - 216 180 - 360 180 - 360
NOTES

EDUCATION
CHINA DIGITALISATION TO DRIVE DEMAND FOR

EDTECH TALENT; PUBLISHING SECTOR
EDUCATION SECTOR GEARS FOR REMAINS STABLE
GROWTH; INTERNATIONAL EXPERIENCE
IN DEMAND The ongoing digital transformation in
education has resulted in a bigger
Home to the largest education system in emphasis on personalised learning
the world, China is seeing rapid growth in experiences. More emerging EdTech start-
its education job market that is expected ups are bringing with them a demand for
to continue into 2020. This growth will be skills such as course development, product
fuelled by new education policies, rising development and channel distribution.
middle-class populations, technological Candidates who can apply their
innovations and improvements to quality knowledge of AI (artificial intelligence), VR
of education. Training centre expansion, (virtual reality) and machine learning to
franchise business development and interactive gaming, modelling tools, video
school operational management are areas production etc are in high demand.
that are seeing high hiring activity.
The publishing sector is expected to
Increasing globalisation and digitalisation continue recruiting candidates with
has led to the higher education sector expertise in co-licensing management,
seeing more foreign universities and content rights, educational solutions sales
business schools offering blended (a and professional development fields.
combination of offline and online) or LIVE
(online) course models, driving up the
demand for talent with cross-cultural and
international team management skills.
Similarly, the study abroad sector is now
moving towards younger age groups and
better full-package services, bringing with
‘Foreign K-12
it a continuing need for talent with
international education or study abroad
independent school
knowledge. This includes students recruited
from Pathway or Foundation programmes.
brands continue to
STEAM, A-LEVEL MOST PREFERRED enter China at a very
SALARY INFORMATION: EDUCATION
EDUCATION STREAMS; DIRECTORS
IN DEMAND fast pace, with British
STEAM (science, technology, engineering,
the arts, mathematics) education also
A-Level being the
continues to be a growing trend, with
many education service providers
most used curriculum,
gradually hiring for expertise in STEAM
programming subjects, as well as channel
ahead of the U.S.’s
partnership, distribution management and
learning solutions managers.
AP and International
Foreign K-12 independent school brands Baccalaureate.’
continue to enter China at a very fast pace,
with British A-Level being the most used
curriculum, ahead of the U.S.’s AP and
International Baccalaureate. This has
resulted in an upturn in demand for school
principals or headmasters, as well as
directors for operations, bursar, admissions,
marketing and academic departments.

EDUCATION
Subject Admissions Operations School
INTERNATIONAL & BILINGUAL K-12 Teacher/ Academic & Marketing Director/ Headmaster/
& MONTESSORI SCHOOLS Head Teacher Director Mgr/Director Bursar Principal
China 280 - 350 380 - 450 450 - 700 550 - 800 1,000 - 2,000
Account/
Professional Business
Development Development Publishing Licensing General
PUBLISHING HOUSES Managers Chief Editor Manager Manager Manager Manager
China 300 - 450 750 - 900 250 - 400 400 - 600 450 - 650 800 - 1,200
Business
Admissions/ Director Development Marketing Curriculum/ Education
Recruitment of Sales & Manager/ Manager/ Product Solutions
EDUCATION SERVICE PROVIDERS Manager Marketing Director Director Development Managers
China 280 - 450 750 - 1200 250 - 800 350 - 800 400 - 800 600 - 800
Regional Business
Heads Owners
China 800 - 1,500 1,000 - 2,000
Executive Career Student

Director/ Development Marketing University Program Administration
HIGHER EDUCATION INSTITUTES Dean Mgr/Director Mgr/Director Representatives Mgr/Director Mgr/Director
China 1,000 - 1,500 300 - 600 300 - 650 500 - 1,000 300 - 600 200 - 450
Business Student Vice President/

AFTER-SCHOOL/ Centre Regional Development Marketing Services General
TRAINING ORGANISATIONS Director Director Manager Mgr/Director Mgr/Director Manager
China 300 - 600 600 - 1,000 300 - 700 400 - 1,000 400 - 800 800 - 1,500
Sales Channel Academic Academic

Manager/ Product Research Services Vice
EDUCATION TECHNOLOGY Director Development Directors Directors President
China 400 - 650 400 - 650 450 - 650 650 - 800 1,000 - 2,000
NOTES
• Salaries are represented in local currency

FINANCE TECHNOLOGY
CHINA SALARIES AND MARKET REMAIN IN COMPANIES PREFER CANDIDATES WITH

FAVOUR OF CANDIDATES TECHNICAL SKILLS OVER DOMAIN
MARKET CONTINUES TO GATHER KNOWLEDGE
MOMENTUM; FULL STACK SKILLS MOST Salaries in the fintech space are not
IN DEMAND expected to see a significant increase but Another trend being seen in the fintech
nevertheless, remain amongst the highest in space is the hiring of more skill-focused
The finance technology market in China is the market. The ongoing candidate shortage candidates rather than industry-
continuing to gather momentum despite has also allowed candidates the advantage knowledge focused. In the past,
recent uncertainty in global markets. Over of deciding between multiple offers and companies would expect candidates to
the last year, China has emerged as a finding the best fit before deciding to accept have an industry domain knowledge that
global leader in fintech adoption – largely a new role. Our market experience has is equivalent to their technical skills, if not
due to Chinese regulators actively creating revealed that what candidates value the more. However, they are now increasingly
and supporting new policies across the most when changing jobs include salary realising that technical skills are
industry. This has resulted in the creation of package, company culture, stability, work life transferrable and more crucial to the
many fintech related start-ups as well as a balance, a variety of challenging projects development of products and systems.
number of established financial institutions and career development.
launching their own fintech subsidiaries. EMPLOYEE RETENTION IMPACTED BY
The effect of this has been a continuous TALENT SHORTAGE
steady growth of job opportunities for HONG KONG SAR The ongoing shortage of talent within the
technology candidates across a variety of INNOVATION HUBS TO BE THE BIGGEST latest technology stacks like cloud, AI and
traditional and emerging functions. FINTECH TREND IN 2020 machine learning will continue to drive up
Full stack software engineering skills are salary requirements and expectations from
Fintech is expected to dominate the
the most in demand right now, followed qualified candidates. There is also a high
market this year and will continue to thrive
closely by big data, cyber security and proliferation of similar projects in the
with the establishment of virtual banks.
biometric technology. The related roles in market, requiring similar skill sets and
Apart from the big players in the virtual
SALARY INFORMATION: FINANCE TECHNOLOGY

demand include software developers, hence keeping them in high demand.
banking industry, there is an exciting trend
algorithm engineers, data architects, data These similarities are also causing
of in-house fintech start-ups that have
analysts, security architects, technology candidates to change jobs more quickly
been set up by their parent companies.
risk officers, and IT auditors. than they would in the past.
These in-house fintech start-ups will serve
TALENT SHORTAGE AND COMPETITION as ‘innovation hubs’ for businesses and will
EXPECTED TO POSE HIRING CHALLENGES allow for new technologies to be trialled JAPAN
and then implemented into the parent
Considering the rapid progress in HEALTHY GROWTH EXPECTED INTO
company. This trend is expected to be a
technology within the sector, one of the 2O20; SALARIES ON THE RISE
highlight in this sector through 2020.
biggest challenges will be to identify and Carrying forward from 2019 into 2020,
attract candidates with applicable skillsets. finance technology is expected to have yet
For example, blockchain remains a key another strong year of hiring in all related
theme for fintech in China and many The next two years will see sectors, including investment banks, asset
financial institutions who are finding it the HKSTP and the UK’s DIT management companies and insurance
increasingly challenging to hire candidates arrange no less than ten fintech
start-ups and enterprises to visit or organisations (both non-life and life). We
with demonstrable experience and expect to see increases in salaries within
exhibit in Hong Kong and the UK
knowledge in this area. thanks to a recently signed MoU. both banking and insurance sectors.
From an organisation perspective, GROWTH OF MOBILE PAYMENTS AND
competition to hire the best candidates in ONLINE BANKING LEADS DOMESTIC
the market remains fierce. Unlike recent HIRING DEMAND
years, the biggest investments can now be
seen across the major Chinese financial While banks are benefiting immensely
institutions as opposed to multinationals, from the growth of the mobile payments
due to renewed interest in overseas industry, they also need qualified talent to
opportunities, especially in areas relating support the new market, resulting in high
to cross border payments. This has demand for product and project
resulted in candidates moving away from managers. There is an emphasis on hiring
MNC’s and towards domestic businesses native Japanese speakers as the mobile
where their international expertise and Source: BusinessWire.com payment market is mostly domestic, with
language skills are highly desired and only a few global companies in the field.
critical to support international expansion. Mobile and online banking is also becoming
increasingly popular in Japan and to cope

with the demand, web and mobile the booming online space of using ‘clicks invoices. This has created an increased
developers are likely to remain in high not bricks’, and seeing AI develop new demand for blockchain developers.
demand this year. companies. Developers forms of customer-centric facilities.
with Java, Swift and C# skills are most Considering this, the candidate market is
desired, while Japanese language skills are likely to continue being dynamic as more
SINGAPORE
also a high priority in this domestic market. companies seek out skilled individuals DISRUPTIVE TECH EXPECTED TO
Employers are expected to raise salaries to who can put them at the forefront of this IMPACT DAILY LIVES IN 2020; SUITABLE
attract these engineers from high tech. increasingly expansive industry. CANDIDATES IN SHORT SUPPLY
BANKING REMAINS STABLE AMIDST 2019 saw an influx of payment companies,
SIGNS OF SLOWDOWN It’s expected that South East Asia’s digital banking initiatives and companies
internet economy will competing on their ability to provide
Tokyo is one of the top global financial hit about US$300 billion multiple offerings for the consumer’s
cities where new businesses are created all by 2025, three times its financial needs.
the time, resulting in a robust investment current annual size.
banking sector that can weather and service This year, we expect to see disruptors
the market. Investment banks will likely be daringly explore blockchain technologies,
hiring in all fields of IT, from developers/ artificial intelligence and deep learning.
support, to project managers and business Most importantly, we are likely to see the
analysts. However, there is a minor integration of these technologies into our
slowdown for some big players, including a everyday lives. Singapore has maintained
few Japanese megabanks like Nomura and its reputation of being the preferred hub
Mizuho who had below-expectation for fintech companies and R&D centres,
performances (partly due to a bearish which has increased the availability of jobs
global market), and Deutsche Bank that saw in technology.
the halting and completely externalisation Source: e – Conomy SEA 2019. A report from However, skill shortages and industry
of its equity-trading business. This slow in Temasek, Google and Bain & Company relevance remain a challenge. The industry
momentum has shifted the focus to cost has adapted to this by hiring candidates
flexibility and function externalisation, from a variety of backgrounds, leading to
creating opportunities for vendors and greater diversity of thought and more
smaller players. SOFTWARE DEVELOPERS IN HIGH opportunities for fresh talent to contribute.
On the infrastructure side, there is a hiring DEMAND
FULL STACK DEVELOPERS, BUSINESS
emphasis on cloud specialists in Azure The demand for backend developers is ACUMEN IN HIGH DEMAND
and/or Amazon Web Services (AWS). also increasing exponentially as software
Investment banking will also remain an development is now central to many In the development space, skills in Java,
international market where professionals organisations, including online banking C++, Python and full stack capabilities,
who are bilingual in English and Japanese applications and e-wallets. The function is coupled with UI/UX skillsets are still highly
will be needed. moving towards the creation of sought-after as companies look to introduce
applications in an agile environment and new features to their products and prioritise
INSURANCE MARKET STAYS BUOYANT; IT consumer experience and retention. As
PROFESSIONALS IN DEMAND using dev-ops to speed up the
development and deployment process. predicted in 2019, AI expertise, specifically
The insurance sector in Japan is one of the with Natural Language Processing (NLP)
biggest in the world and continues to be a Apart from fintech, there has also been a and Computer Vision (CV) continue to be
growing market. The ongoing digitalisation trend of banks moving towards the the most in-demand skills in financial
trend has also led to the implementation implementation of JavaScript frameworks services. This is compounded by the influx
of new digital projects for both life and such as Angular, React and Node. The of investment into the development
non-life insurance companies to better insurance industry has yet to pick up on of chatbots, automation and customer
serve their customers. this trend, but are likely to follow suit down personalisation strategies.
the line. Despite this increase in demand,
SALARY INFORMATION: FINANCE TECHNOLOGY
Hiring is thus expected to continue on a there is still a shortage of experienced In addition, technical full stack
healthy trajectory for both domestic and talent within this space, as developers are professionals with the ability to translate
international companies. In a similar vein to still transitioning to these skillsets. business problems to technical terms and
banking, developers, business analysts, and solutions, and the ability to articulate this
project managers are in demand. However, REGULATORY SKILLS INCREASINGLY to stakeholders will be increasingly desired
the majority of the market remains IMPORTANT TO SUPPORT CYBER in Singapore.
domestic and the need of bilingual SECURITY
DATA CAPABILITIES & CYBER SECURITY
professionals is still limited to only senior IT security in 2020 is no longer going to be WILL BE TOP PRIORITY FOR BUSINESSES
managerial levels at global companies. purely about protecting sensitive data and
keeping hackers out of systems. Managing Building on from 2019, companies are
MALAYSIA technological risk has become crucial for gearing towards optimising their digital
financial institutions across Malaysia, and technologies and increasing their return on
TRADITIONAL FINANCIAL SERVICES investment. For the financial giants, this
INDUSTRY OPENS UP TO FINTECH will require both cyber security and
preventative regulation to protect sensitive involves creating a data strategy and
As fintech in Malaysia continues to be driven data and privacy. The ongoing skill building their data ‘brain’ capabilities to
by new technology, innovations and shortages in these areas has created high leverage on real-time data and serve
regulatory changes, we have observed more demand for information security and consumers in a personalised manner. The
job opportunities being created for technology risk candidates. Thus, the hiring demand for data and machine learning
candidates in mobile & web development, strategy for most of employers in the engineers will spike, alongside cloud
emerging technologies and data analytics space will be increasing their salary offers computing skills which traditional banks are
space. While the financial services industry and also their salary benchmarks to retain also looking to leverage on. Cyber security
has historically been selective in its hiring their top talent in 2020. continues be the grounding base for fintech
process, the last year has seen Malaysia’s efforts, and talent in this space will be in
fintech arena attempting to attract BLOCKCHAIN EXPECTED TO ENTER great demand from a preventive and
candidates from other fields, including those MAINSTREAM IN 2020 on-going maintenance perspective.
from non IT backgrounds. The deployment of blockchain applications
As the conservative financial industry in with sustainable commercial value is
Malaysia becomes increasingly open to expected to speed up in the coming year.
developments in fintech, rapid growth is to More blockchain applications are likely to
be expected in this area. Companies will be seen in our daily lives, powering
use technology in the coming year to shift services like cross-border remittances,
from conventional business practices to supply-chain financing and electronic

FINANCE TECHNOLOGY
Infrastructure Development
MANAGEMENT Manager Manager IT Director CIO
China 400 - 800 600 - 900 800 - 1,800 1,200 - 2,500
Hong Kong SAR 1,100 - 1,800 1,100 - 1,800 1,500 - 2,000 1,500 - 2,200
Japan 12 - 15 12 - 18 20 - 35 30 - 80
Malaysia 162 - 300 150 - 310 250 - 540 480 - 780
Singapore 150 - 300 150 - 300 200 - 400 350 - 600
Application FIX Connectivity Market Data Application

SUPPORT FUNCTIONS Support Team Leader Support Engineer Support Manager
China 250 - 450 400 - 600 200 - 400 350 - 650 600 - 800
Hong Kong SAR 520 - 900 660 - 900 520 - 850 480 - 780 700 - 1,000
Japan 8 - 12 12 - 16 8 - 14 12 - 14 12 - 16
Malaysia 80 - 120 96 - 192 120 - 200 160 - 300 120 - 240
Singapore 60 - 120 115 - 260 100 - 180 100 - 200 120 - 260
Quantitative IT Security/
OTHER Analyst IT Risk IT Audit BCP Manager
China 400 - 600 400 - 800 400 - 700 400 - 700
Hong Kong SAR 720 - 1,500 600 - 1,000 570 - 900 800 - 1,000
Japan 12 - 18 12 - 20 12 - 18 8 - 14
Malaysia 150 - 240 180 - 480 180 - 360 180 - 300
Singapore 100 - 250 100 - 350 80 - 360 100 - 300
Project Service
Co-ordinators/PMO Delivery Manager Tester Test Manager
China 250 - 500 450 - 750 250 - 350 400 - 600
Hong Kong SAR 550 - 820 750 - 1,160 450 - 780 720 - 1,200
Japan 6-8 8 - 12 8 - 12 12 - 14
Malaysia 120 - 180 180 - 300 80 - 192 120 - 240
Singapore 80 - 130 120 - 220 84 - 150 150 - 250
NOTES

FINANCE TECHNOLOGY
BUSINESS ANALYSTS
CASH Non-Officer AVP
(ALL ASSET CLASSES) (Associate) Senior Associate VP ED MD
China 250 - 380 400 - 600 550 - 800 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 330 - 550 600 - 950 920 - 1,500 1,200 - 2,000 2,000 - 2,800
Japan 8 - 12 12 - 16 16 - 20 20 - 35 35 +
Malaysia 60 - 108 100 - 180 170 - 240 N/A N/A
Singapore 84 - 110 110 - 150 130 - 220 N/A N/A
DERIVATIVES Non-Officer AVP

China 250 - 380 400 - 500 550 - 800 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 350 - 650 750 - 1,200 1,000 - 1,500 1,500 - 2,000 2,000 - 3,200
Japan 8 - 12 12 - 16 16 - 20 20 - 35 35 +
Malaysia 60 - 108 100 -180 170 - 240 N/A N/A
Singapore 90 - 120 120 - 160 140 - 200 N/A N/A
Non-Officer AVP
ELECTRONIC TRADING (Associate) Senior Associate VP ED MD
China 250 - 380 400 - 500 550 - 800 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 600 - 860 720 - 1,200 1,000 - 1,500 1,600 - 2,200 2,200 - 3,600
Japan 8 - 12 12 - 16 16 - 20 20 - 35 35 +
Malaysia 96 - 144 130 - 192 168 - 240 N/A N/A
Singapore 90 - 120 120 - 150 150 - 240 N/A N/A
NOTES

FINANCE TECHNOLOGY
PROJECT MANAGEMENT
China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 520 - 650 700 - 1,000 1,000 - 1,500 1,500 - 2,200 2,200 - 2,800
Japan 8 - 12 12 - 16 16 - 22 22 - 40 40 +
Malaysia N/A 100 - 168 144 - 264 240 - 336 320 +
Singapore N/A 102 - 140 140 - 200 240 - 280 300 +

China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 520 - 800 650 - 1,000 1,000 - 1,500 1,500 - 2,200 2,200 - 2,800
Japan 8 - 12 12 - 16 16 - 22 22 - 40 40 +
Malaysia N/A 100 - 180 144 - 264 240 - 336 320 +
Singapore N/A 102 - 140 150 - 200 240 - 300 300 +
Non-Officer AVP
China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 600 - 860 720 - 1,200 1,000 - 1,500 1,500 - 2,200 2,200 - 3,600
Japan 8 - 12 12 - 16 16 - 22 22 - 40 40 +
Malaysia N/A 140 - 180 180 - 300 240 - 336 350 +
Singapore N/A 110 - 150 160 - 250 250 - 400 400 +
NOTES

FINANCE TECHNOLOGY
JAVA
China 200 - 350 300 - 450 500 - 800 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 420 - 650 700 - 1,000 900 - 1,500 1,500 - 2,000 2,000 +
Japan 8 - 12 12 - 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 +

China 150 - 250 300 - 450 450 - 800 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 450 - 680 700 - 1,000 920 - 1,500 1,500 - 2,000 2,000 +
Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +
Malaysia 80 - 100 90 - 160 160 - 220 220 - 330 320 +
Singapore 70 - 90 90 - 140 175 - 220 220 - 300 280 +
Non-Officer AVP
China 150 - 250 300 - 450 500 - 800 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 450 - 670 700 - 1,000 950 - 1,500 1,500 - 2,000 2,000 +
Japan 8 - 12 12 - 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

FINANCE TECHNOLOGY
C++
China 220 - 350 300 - 550 450 - 1,100 1,000 - 1,300 1,300 - 1,800
Hong Kong SAR 420 - 800 600 - 1,000 1,000 - 1,500 1,500 - 1,800 1,800 - 2,000
Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +
Malaysia 70 - 90 90 - 160 150 - 220 220 - 320 300 +
Singapore 70 - 84 90 - 130 160 - 220 220 - 300 280 +

China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 420 - 800 750 - 1,200 1,000 - 1,500 1,500 - 1,850 1,800 - 2,000
Japan 8 - 12 12 - 16 16 - 20 20 - 50 40 +
Malaysia 80 - 100 90 - 160 160 - 220 220 - 330 320 +
Singapore 70 - 90 90 - 140 150 - 220 220 - 300 280 +
Non-Officer AVP
China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 420 - 800 750 - 1,200 1,000 - 1,500 1,500 - 1,850 1,800 - 2,000
Japan 8 - 12 12 - 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 +
EXCEL/VBA/RAD
China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 450 - 700 850 - 1,000 1,000 - 1,500 1,500 - 1,800 1,800 - 2,000
Japan 8 - 12 12 - 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
NOTES

FINANCE TECHNOLOGY
C#
China 150 - 250 350 - 500 500 - 750 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 450 - 750 850 - 1,200 1,000 - 1,500 1,500 - 1,800 1,800 +
Japan 8 - 12 12 - 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 +

China 150 - 250 300 - 450 450 - 800 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 450 - 750 850 - 1,200 1,000 - 1,500 1,500 - 1,800 1,800 - 2,000
Japan 8 - 12 12 - 16 16 - 20 20 - 50 45 +
Malaysia 80 - 100 90 - 160 150 - 230 230 - 320 320 +
Singapore 70 - 90 90 - 135 140 - 220 220 - 300 300 +
Non-Officer AVP
China 150 - 250 300 - 450 450 - 1,000 1,000 - 1,300 1,300 - 1,600
Hong Kong SAR 450 - 750 850 - 1,200 1,000 - 1,500 1,500 - 1,800 1,800 +
Japan 8 - 12 12 - 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
Non-Officer AVP
COBOL (Associate) Senior Associate VP
Hong Kong SAR 360 - 450 400 - 500 500 - 650
Malaysia 70 - 90 100 - 150 150 - 240
ETL INFORMATICA, ORACLE PL/SQL, RDMS,

DATA WAREHOUSE, SAS
Non-Officer AVP
BUSINESS INTELLIGENCE (Associate) Senior Associate VP
Japan 6 - 12 12 - 18 16 - 24
Malaysia 72 - 108 100 - 168 150 - 240
NOTES

FINANCE TECHNOLOGY
INSURANCE
Application
Excel/Visual Architect/
APPLICATION DEVELOPMENT C++/Java/ Basic Database Lead Development Main Frame
- FRONT OFFICE C# Developer Developer Developer Developer Manager Developer
Japan 8 - 14 8 - 14 6 - 14 10 - 16 14 - 20 7 - 12
Malaysia 60 - 144 60 - 120 72 - 108 144 - 240 144 - 180 72 - 144
Application
Excel/Visual Architect/
APPLICATION DEVELOPMENT C++/Java/ Basic Database Lead Development Main Frame
- MIDDLE/BACK OFFICE C# Developer Developer Developer Developer Manager Developer
Japan 8 - 12 8 - 12 8 - 12 12 - 15 14 - 20 7 - 14
Malaysia 60 - 144 60 - 120 60 - 120 144 - 240 144 - 216 72 - 144
APPLICATION SUPPORT Application

- FRONT OFFICE Support Team Leader Manager
Japan 6-8 10 - 14 12 - 16
Malaysia 48 - 108 84 - 144 132 - 192
APPLICATION SUPPORT Application

- MIDDLE/BACK OFFICE Support Team Leader Manager
Japan 6-8 10 - 14 12 - 16
Malaysia 48 - 108 84 - 144 140 - 192
Business Business
Analyst Analyst IT Security/IT
OTHERS (Front Office) (Back Office) Risk IT Audit BCP Manager
Japan 10 - 16 10 - 16 12 - 18 12 - 20 10 - 18
Malaysia 96 - 156 96 - 144 180 - 480 180 - 360 180 - 300
Project Project Project Service

Manager Manager Program Co-ordinators/ Delivery
(Front Office) (Back Office) Manager PMO Manager Test Manager
Japan 12 - 16 10 - 18 14 - 25 6 - 12 10 - 18 10 - 25
Malaysia 120 - 300 120 - 280 300 - 720 72 - 120 144 - 240 120 - 240
Development Development Application

Infrastructure Manager - Manager - Support
MANAGEMENT Manager Front Office Middle/Back IT Director CIO Manager
Japan 10 - 16 15 - 25 15 - 20 25 - 70 40 - 80 15 - 25
Malaysia 150 - 240 120 - 240 120 - 240 300 - 540 420 - 840 144 - 240
NOTES

HUMAN RESOURCES
CHINA open to opportunities in Chinese the changing demands of the workforce in

organisations owing to their increasing relation to flexible working conditions and
HR MARKET BOLSTERED BY LOCAL demand for HR talent and ability to offer fair compensation. This has heavily
COMPANIES AS CHINA FOCUSES ON more attractive total compensation. affected recruitment strategies for
DOMESTIC GROWTH organisations, as well as increased
TECH TALENT HIRING WILL DRIVE UP
2019 was an exciting year for the HR competition for candidates – a trend that
NEED FOR HR SPECIALISTS
market in China, with many companies is expected to continue throughout 2020.
turning their focus inwards to focus on There are also several start-up
The revolutionary policy has resulted in a
domestic growth. As one of the largest organisations from fintech and IT
strong shift to a candidate driven market,
and quickly growing global markets with a industries entering the Hong Kong market
translating to greater risk for organisations
significant workforce, China’s local who are on the lookout for talent
who may lose good candidates if they are
companies have and will continue to play acquisition specialists or HR generalists to
unable to be flexible with their
a crucial role in the industry’s support their new business.
requirements or compensate them
development. This is further compounded Technology remains an important tool that according to market rates, regardless of
by the opening up of state-owned companies are leveraging on to give them their previous package. With the ongoing
companies to the recruitment market, a competitive advantage in the market. candidate-short market seeing candidates
giving candidates with both local and MNC There are new and additional HR divisions receive multiple offers at once,
experience an edge over others. being created to facilitate this demand organisations will need to be creative with
TMT, INSURANCE AND EDUCATION such as HR transformation or HRIS their interview processes to maintain
SECTORS HIRING PROFESSIONALS (Human Resource Information Systems). candidate interest and offer attractive
EXPERIENCED IN OD The demand for HR specialists with compensation packages that are outside
experience in driving technology also of the box.
Consequently, for the HR recruitment remains a core focus. Strong HR business
market in China, most recent hiring partners will also be in demand, with
activity has come from local organisations special emphasis on their business
as opposed to multinational ones, stakeholder management skills. Microsoft Japan trialled a
especially within fast moving industries four-day working week throughout all
SALARY INFORMATION: HUMAN RESOURCES
like TMT (technology, media and telecom). The ongoing talent shortage of HR of August 2019 and saw sales soar 40%
More hiring is also being seen from specialists in the area of compensation and
industries like insurance and education benefits as well as learning, talent and
that are currently undergoing major organisational development is expected to
changes and improvements to efficiency. drive premium packages as companies
Candidates with demonstrated compete to attract and retain such talent.
organisational development (OD) HIRING MAY BE CONSERVATIVE BUT
experience are in high demand to help COMPENSATION REMAINS HIGH
drive these changes.
However, organisations will be more
LOCAL COMPETITION FUELS ATTRACTIVE conservative in their general HR hiring in
SALARY PACKAGES the coming year owing to uncertainties
While the global economic slowdown has caused by business expansion. The focus
caused employers to be cautious in their will then shift to maintaining and retaining
existing talent in the business. The Guardian
hiring and offers, most employers are still
willing to pay premium packages for the But regardless of the uncertainties, the
right candidates. This is especially the case overall packages on offer for HR talents,
with local firms that are currently very be it HR generalists or HR specialists,
competitive in their bid to attract talent remain competitive as the market is still HYBRID HR POSITIONS IN DEMAND
with relatively good packages. driven by candidates. Hybrid HR positions including training and
organisational development, HRBP and
HONG KONG SAR JAPAN talent management and/or compensation
CHINESE COMPANIES INCREASINGLY and benefits, have become more common
NEW POLICY PUSHES EMPLOYERS in the market and are likely to remain in
OFFERING ATTRACTIVE ROLES AND TO REPACKAGE REWARDS AND
REMUNERATION high demand. As the job scopes of these
REMUNERATION roles expand, overall compensation
2019 saw an increasing presence of Following the implementation of the packages are expected to increase as well.
Chinese organisations in Hong Kong, a government’s “work style reform” policy,
trend that is likely to continue into 2020. Japan’s HR market has steadily adapted to
As a result, HR professionals are now more

RPO & CONTRACTING ON THE RISE CHANGE MANAGEMENT, COMPETITION INTENSIFIES FOR SENIOR-
ORGANISATIONAL DESIGN LEVEL ROLES; HRBP IN HIGH DEMAND
Retainer and recruitment process
EXPERIENCE KEY TO DRIVING DIGITAL
outsourcing (RPO) solutions, where Due to the streamlining of HR functions in
TRANSFORMATION
organisations seek consultation in many larger MNCs, there has been higher
identifying the best talent, have On a more general scale, the top skill that competition at senior-level amongst HR
significantly increased in popularity as employers are currently seeking from HR business partners or HR directors who
alternatives to filling HR positions. professionals is change management, have been retrenched or want to relocate
Additionally, the hiring of senior alongside organisational design experience. to Singapore. However, newly created
contracting or temporary workers has also This need is a product of the ongoing digital roles across all industries and levels within
increased in popularity last year due to the transformation movement that requires HR commerce, remain buoyant, particularly
ongoing talent shortage. professionals to guide and assist in this for regional positions. We expect to see
change by examining overall workforce this trend continue through 2020.
planning and facilitating the harmonisation
MALAYSIA of people, culture, and policies.
HR business partners with strategic
experience will continue to be in high
SALARIES DECREASING AS
demand, alongside a huge increase in the
ORGANISATIONS LOOK TO KEEP HR In October 2019, Citi Malaysia
announced new parent-friendly need for strong employee relations
FUNCTION LEAN
employee benefits, notably specialists as well as change/
In a continuing trend from 2019, there doubling the amount of organisational development consultants as
have been no significant increases in maternity and paternity leave. more businesses undergo mergers,
salaries for HR professionals. However, acquisitions or streamlining. The demand
decreases may be on the horizon. With for talent acquisition and compensation
the rapid movement towards digitalisation, and benefits candidates is also expected
a number of companies are looking at to continue as HR departments seek
‘rightsizing’ their HR function and keeping innovative ways to not only attract new
them lean. HR operations specialists are staff, but reward and retain them.
the first to be affected by this trend as
FINTECH BOOM TO RESULT IN CREATION
their roles are slowly being replaced by
OF NEW ROLES; CONTRACT & TEMP
developments in automation and artificial
HIRING ON THE RISE
intelligence (AI).
2020 will see noticeable growth in the
However, this has also led to an increase in
fintech industry, as well as in international
demand for subject matter experts who
SMEs bringing their regional hubs to
can assist businesses in their overall
Singapore due to the grants being offered
operational improvement. Such candidates Source: The Edge Markets Malaysia by the EDB. These movements will result
are primarily sourced from HR shared
in the creation of new individual
service environments. Similarly, larger
contributor roles for both local and
organisations have been developing their
SINGAPORE regional HR candidates.
in-house HR shared service function to
service their employees more efficiently. MARKET INCONSISTENCIES LIKELY TO As anticipated, temporary and contract
CONTINUE INTO 2020 hiring for HR grew significantly in 2019
SHARED SERVICE CENTRE SETUP SKILLS
and will continue to do so throughout
IN HIGH DEMAND 2019 saw inconsistencies in Singapore’s HR 2020 as the market becomes more
Additionally, a number of multinational market, going from a busy start, particularly established and candidates become more
companies still view Klang Valley and for junior-mid level roles, to a quieter mid- open to short term assignments.
Penang as key locations to set up their year. However, the market picked up again
regional Shared Service centres and towards the end of the year across all levels,
support the growing Asia Pacific market. but most visibly with senior-level roles. ‘Talent war breaking
Consequently, organisations are on the
lookout for candidates with shared service
We expect this inconsistency to continue
throughout 2020 as year ends, bonuses
out for talent
centre setup experience, as well as system and a slowing economy will continue acquisition and
SALARY INFORMATION: HUMAN RESOURCES

migration and system harmonisation impacting headcounts, resulting in a ‘stop-
experience. Despite the tough market
circumstances, candidates in this space
start’ effect on recruitment. The most
in-demand candidates are expected to be
compensation and
can still expect attractive salary offers. at junior to mid-level, which will lead to
salaries becoming more competitive.
benefits candidates
in Singapore.’

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)
China 1,500 - 5,000 800 - 2,000 500 - 1,800 400 - 1,000
Hong Kong SAR 1,200 - 2,280 960 - 1,500 960 - 1,200 840 - 1,200
Japan 30 - 40 18 - 30 16 - 30 13 - 18
Malaysia 420 - 600 300 - 420 240 - 300 180 - 240
Singapore 250 - 400 220 - 250 180 - 220 150 - 200
Regional HR Manager/ HR Manager/HRBP HR Manager/HRBP Assistant HR

HRBP (10 + yrs) (10 + yrs) (6+ yrs) Manager (4+ yrs)
China 700 - 1,200 500 - 1,000 350 - 500 200 - 350
Hong Kong SAR 960 - 1,440 720 - 1,200 480 - 600 300 - 480
Japan 13 - 18 12 - 16 8 - 13 7 - 10
Malaysia 265 - 336 180 - 240 120 - 180 72 - 108
Singapore 150 - 200 120 - 150 80 - 120 70 - 100
Senior HR Regional Talent Regional Talent

Executive HR Executive Acquisition Director Acquisition Manager
(5+ yrs) (2+ yrs) (12+ yrs) (10 + yrs)
China 150 - 300 100 - 240 800 - 1,600 500 - 1,000
Hong Kong SAR 300 - 480 150 - 300 840 - 1,200 720 - 840
Japan 6 - 10 5-7 N/A 15 - 20
Malaysia 67 - 102 42 - 66 180 - 300 145 - 216
Singapore 55 - 72 40 - 55 180 - 250 150 - 180
TA/Recruitment TA/Recruitment TA/Recruitment Campus Recruiter

Manager (8+ yrs) Specialist (5+yrs) Coordinator (3+ yrs) (3+ yrs)
China 300 - 700 150 - 450 100 - 200 100 - 300
Hong Kong SAR 540 - 720 360 - 540 216 - 360 264 - 360
Japan 12 - 18 7 - 12 4-7 6 - 10
Malaysia 108 - 180 84 - 120 54 - 84 66 - 150
Singapore 100 - 150 60 - 90 40 - 50 50 - 72
Regional L&D Regional L&D L&D Manager L&D Officer

Director (10 + yrs) Manager (10 + yrs) (5+ yrs) (3+ yrs)
China 800 - 1,200 500 - 1,000 200 - 650 100 - 250
Hong Kong SAR 960 - 1,560 720 - 960 456 - 720 216 - 336
Japan 15 - 20 12 - 18 9 - 15 7-9
Malaysia 264 - 384 180 - 264 96 - 180 72 - 108
Singapore 180 - 300 120 - 180 80 - 120 60 - 80
NOTES

HUMAN RESOURCES
Regional Director Regional Compensation Manager Compensation &
Compensation & & Benefits Compensation & Benefits Specialist
Benefits (12+ yrs) Manager (10 + yrs) Benefits (8+ yrs) (3+ yrs)
China 800 - 2,000 600 - 1,200 400 - 700 150 - 300
Hong Kong SAR 1,080 - 1,800 720 - 960 480 - 720 300 - 420
Japan 15 - 22 12 - 18 10 - 16 6 - 10
Malaysia 300 - 420 180 - 300 120 - 180 84 - 120
Singapore 180 - 300 150 - 180 120 - 150 80 - 120
HRIS Manager HRIS Administrator

(8+ yrs) (3+ yrs)
China 200 - 550 100 - 200
Hong Kong SAR 480 - 720 180 - 360
Japan 8 - 13 5-8
Malaysia 180 - 300 48 - 96
Singapore 80 - 120 40 - 60
Organisational
Payroll Manager Payroll Officer Shared Services Development
(8+ yrs) (3+ yrs) Manager (8+ yrs) Manager (10 + yrs)
China 300 - 600 100 - 180 400 - 1,000 500 - 1,500
Hong Kong SAR 480 - 720 216 - 336 480 - 720 660 - 900
Japan 9 - 14 5-9 10 - 15 12 - 18
Malaysia 120 - 180 54 - 90 120 - 216 144 - 300
Singapore 90 - 175 50 - 90 90 - 220 120 - 250
NOTES

INFORMATION TECHNOLOGY
CHINA look to safeguard their businesses from speaking candidates, who can thus adjust
malicious attacks. The current shortage of more easily to working in Hong Kong.
DIGITAL TRANSFORMATION IS TOP these skills in the market is good news for While there is probably still a one in ten
PRIORITY FOR BUSINESSES experienced candidates, who can expect chance that people will be hired using this
Amidst growing geopolitical tensions and more choice and attractive remuneration strategy, the impact would be most visible
a cooling down of economic growth in packages when searching for new roles. in the normalisation of salary increments
China, businesses are placing less focus on to what they were before due to the new
SALARIES IN EMERGING TECH LIKELY TO
traditional IT projects and allocating a supply of talent.
BE THE HIGHEST
much larger proportion of their budgets MORE COMPANIES TURN CAUTIOUS ON
towards digital transformation. Overall, we expect salaries for IT
HIRING
employees to remain stable within the next
Other key areas within IT that businesses year across China. But considering the Within the commercial or non-financial
will continue to spend on include cloud expected decrease in traditional IT jobs, sector, we have observed more companies
migration, IT security, wireless networking companies may be more cautious in their undertaking caution with hiring owing to
and telecommunications. China also hiring and spending. While this may impact geopolitics. As a result, while headcounts
recently outlined a national IT development a candidate’s leverage in the market, those are still active, some roles have been
strategy that aims to improve its IT from emerging technologies and key areas pushed into the later months of 2020 as
infrastructure over the next 5-10 years and such as security, risk and networks can companies wait to observe impacts to the
bring it up to global standard. expect a very positive year ahead in terms economy before committing to hiring plans.
5G NETWORK ROLLOUT EXPECTED TO of both hiring and remuneration.
CREATE MORE JOBS ACROSS INDUSTRIES JAPAN
SALARY INFORMATION: INFORMATION TECHNOLOGY
The largest and most significant of these HONG KONG SAR RISING TREND OF HIRING IN EMBEDDED
projects is the national rollout of 5G ENTRY OF VIRTUAL BANKS FURTHER TECH; SKILLED, BILINGUAL CANDIDATES
networks. China sees this as a national COMPOUNDS TALENT SHORTAGE IN SHORT SUPPLY
priority, as well as an effective way to
promote the consumption of electronics The entry of virtual banks into the market As manufacturing companies, industrial
and vehicles that depend on 5G and new has rendered qualified IT talent in software firms and the automotive
energy technologies. From a candidate exceedingly short supply. As such, it is not industry continue to enhance their
point of view, there will likely be a number uncommon for companies to wait for hardware and software capabilities, there
of new jobs created across various several months before they are able to hire is an increasing demand for embedded
industries to support the rollout. staff within the information technology developers and testers that is expected to
space. At the same time, due to demand, continue into 2020. This is especially the
The commercial launch of 5G in it is not uncommon for candidates to case for the automotive industry as new
China in November 2019 was at the expect salary increments between vehicle models continue to offer more
time, the largest commercial 30-40%. This is a result of more employers features and connectivity year-by-year.
5G network in the world. being willing to wait for candidates with The space is also seeing a skill shortage in
specific experience. When they are finally Japan which is pushing up salaries for
found, it is almost required for employers suitable technical candidates, and even
to consider higher than normal increments more so if they are bilingual.
to attract and close the hire.
It should be noted, however, that such
increments generally apply to candidates
at manager-level and below, with such
increments being less common at director
level and above.
TALENT SOURCED FROM ELSEWHERE TO
COVER SKILL GAPS
Source: Digitaltrends.com Due to the ongoing talent shortage,
‘Hong Kong’s push for
another trend being observed is that Hong
Kong-based companies are now becoming
digital banking will
SKILL SHORTAGE IN IT SECURITY LIKELY
TO RAISE PAY PACKAGES more open to hiring candidates from the
Guangdong province. The assumption
continue contributing
IT security jobs have seen a sharp rise in
the last year, a trend that is expected to
behind this trend is that searching for
candidates in close geographical proximity
to the ongoing talent
continue throughout 2020 as IT Leaders is likely to render more Cantonese shortage in 2020.’

ONGOING TRANSFORMATION TO NEW MICROSERVICES, NEW PROGRAMMING which highlights critical information
DIGITAL TECHNOLOGIES & 5G; SALARY LANGUAGES AND PHP DEVELOPERS IN infrastructure sectors that will need to
RAISES EXPECTED DEMAND meet minimum-security requirements.
The sectors that fall under the cyber
Companies across multiple industries In 2020, we predict an increased emphasis
security Act include government,
continue to hire IT candidates with newer on using microservices to increase
infocomm, energy, transport (land,
skills in AI, robotics, machine learning and productivity and scalability in IT applications.
maritime and aviation), healthcare,
automation, as they transition to and There is also a shift in programming
banking and finance, water, media,
transform their IT environment to utilise languages that involves moving away
security and emergency services. As a
these new technologies. Alongside hands-on traditional languages like Java and .Net and
result, there has been an influx of
technical engineers in these areas, continued towards Node JS for speed and scalability.
investment to bolster cyber security within
hiring is also expected for business analysts, The Malaysian market is still developing
both public and private sectors.
project managers and team managers who talent in this area and software developers
can pull projects together and manage the with the latest tech-stack are in a better The bulk of in-demand roles fall under the
overall IT environment. Considering the high position to demand a higher salary. government and banking sector, which
demand, candidates with these skills and require a higher level of security. Cyber
But despite the emergence of newer
experience can expect to see salary security roles currently in demand include
technologies, traditional programming
increases ahead. security operation centre analysts and
languages like .NET & C# are still very
penetration testers. Having received
Moving further into 2020, the expansion of much in the market and are likely to
emphasis only recently, cyber security still
5G networks and technology in Japan will remain in demand as long as industries are
remains a premature domain in Singapore
create hiring needs and increase salaries still finding their way forward in the
and is facing a severe shortage of talent.
for engineers and managers with prior adoption of new tech.
This has led to organisations proactively
3G/4G experience, as well as linked
An increase in demand for full stack working to attract candidates from other
technologies like cloud and Internet of
JavaScript developers (ReactJS and organisations.
Things (IoT).
NodeJS) will continue in 2020. However, full
As a result, the market is now very “fluid’’
SUPPLY CHAINS GO DIGITAL; stack PHP developers are still top priority,
as candidates tend to jump roles every
E-PAYMENTS ON THE RISE particularly in Laravel frameworks. As the
two years on average. This talent shortage
demand for PHP developers in the market is
E-commerce and mobile technology has also led to an increase in salaries as
relatively high, qualified candidates are
businesses will also continue to grow their organisations need to remain competitive
likely able to secure a job for themselves
online services by enabling easier payment in terms of remuneration. Last year,
within a short amount of time.
options and faster manufacturing and salaries increased by around 10%-15%, and
delivery through more efficient, CLOUD AND DEVOPS TALENT IN SHORT are predicted to rise by between 20%-25%
technology optimised, supply SUPPLY this year.
chains. Applications like Apple Pay, Alipay,
The demand for cloud and DevOps talent CLOUD ENGINEERING AND DEVOPS
and LINE Pay will become increasingly
has been growing amidst an ongoing SKILLS HIGHLY SOUGHT AFTER
important, alongside ongoing upgrades to
talent shortage in this space. Candidates
typical warehouse management systems, As infrastructure evolves and the
with skillsets in automation tools,
point of sale and supply chain promotion of virtualised technical
microservices, and build and release
management systems. Candidates in these environments becomes more prevalent,
engineering on cloud are exceptionally
areas can expect to have plenty of options there is a higher demand for candidates
hard to find, leading companies to bridge
in the market and enough leverage to with cloud engineering skills. There has
the gap by sourcing foreign talent instead.
negotiate pay raises. also been a larger push in the market for
DATA ANALYTICS SKILLS NEEDED TO events and discussions promoting the
SALARY INFORMATION: INFORMATION TECHNOLOGY

SUPPORT INDUSTRY TRENDS transformation and benefits of utilising
MALAYSIA cloud platforms, whether in a public,
Integrated automation solutions are a blend
IT & INNOVATION CONTINUES TO private or hybrid environments. We foresee
of Robotic Process Automation (RPA), AI
DOMINATE TALENT TRENDS a demand for candidates with strong cloud
and analytics that are reliable, predictable,
The ever-pervasiveness of technology and and applicable to many industries. With engineering experience and technical cloud
innovation is dominating this year’s talent advances in technologies such as AI and certifications in 2020, with salary
trends in Malaysia, with tech-savvy machine learning (ML), businesses are increments reaching 20-25% for strong
candidates across strategic business units leveraging on data analytics to improve their talent. It is common for candidates with
being in short supply. Malaysia’s SME and processes and efficiency. We are also seeing strong cloud skills to receive and compare
E-commerce sector is also expected to rise a shift in trends from business intelligence to multiple offers owing to the clear shortage
in the coming year owing to government predictive analytics. All of these factors have of suitable local talent across government,
policies supporting the National Industry 4.0 contributed to an increasingly high demand technology and banking organisations.
Policy Framework, including the creation of for candidates with data analytics Another strong trend in infrastructure is
the Digital Free Trade Zone (DFTZ). knowledge and experience. the use of more automation and scripting
Considering the large amount of skills among system engineers, promoting
investment in the space, a large number of SINGAPORE the usage of DevOps technologies such as
IT projects are expected to be containerisation and monitoring tools.
TALENT SHORTAGE FOR CYBER Infrastructure operations and development
implemented in the coming years. Project
SECURITY ROLES IS HERE TO STAY FOR teams no longer operate in silo models
managers will be in consistent demand to
THE NEXT FEW YEARS and are now working more closely in an
execute and oversee these projects but
would ideally have competence in Considering the recent rise in high-profile Agile methodology for efficient
business strategy and resource cyber-attacks, the Singapore government operations. The challenge for system
management as well. passed the cyber security Act in 2019 engineers who want to stay relevant in the
future market is to keep pace by picking
up basic scripting skills such as Python,
Bash and Shell, or be limited to traditional
system technologies.
The Malaysian government in As for traditional infrastructure, there is
October 2019 committed
RM20 million to help create a conducive, still stable demand for helpdesk support,
inclusive, and competitive system and network engineering
Digital Content Ecosystem. candidates across various industries.
network engineers who have attained their
CCIE certifications are in strong demand,
especially candidates with a proven ability
Source: The Strait Times to design a network set-up from scratch.

DEVELOPMENT
VB6/ASP/SQL/ Oracle Forms/
ANALYST PROGRAMMER MS.Net/J2EE Delphi/C++ Reports
China 300 - 550 250 - 350 180 - 350
Hong Kong SAR 264 - 456 264 - 456 240 - 510
Japan 6 - 10 6 - 10 8 - 12
Malaysia 60 - 108 60 - 85 60 - 85
Singapore 50 - 75 50 - 75 55 - 90
VB6/ASP/SQL/ Oracle Forms/

SENIOR ANALYST PROGRAMMER MS.Net/J2EE Delphi/C++ Reports
China 320 - 500 280 - 420 300 - 420
Hong Kong SAR 420 - 660 384 - 600 384 - 660
Japan 8 - 12 8 - 12 8 - 14
Malaysia 90 - 240 90 - 120 70 - 100
Singapore 72 - 100 72 - 100 55 - 90
Database Data Warehouse

DATA SPECIALISTS Data Architect Administrator Data Modeller Consultant Data Analyst
China 500 - 1,000 300 - 500 300 - 600 300 - 400 350 - 600
Hong Kong SAR 540 - 900 420 - 660 420 - 700 420 - 840 384 - 660
Japan 10 - 16 8 - 12 10 - 14 10 - 16 8 - 14
Malaysia 120 - 240 120 - 180 144 - 216 120 - 216 96 - 144
Singapore 100 - 165 60 - 120 60 - 120 60 - 100 N/A
Development Development
MANAGEMENT ROLES Team Leader Manager
China 450 - 750 750 - 1,000
Hong Kong SAR 720 - 1,050 900 - 1,500
Japan 9 - 16 16 - 18
Malaysia 120 - 198 180 - 264
Singapore 105 - 156 132 - 200
Senior Test
SOFTWARE TESTING Test Analyst Analyst QA Manager QA Director
China 150 - 250 300 - 500 420 - 630 580 - 850
Hong Kong SAR 420 - 800 600 - 1,000 600 - 850 700 - 1,100
Japan 6-8 8 - 10 8 - 14 10 - 16
Malaysia 75 - 90 108 - 156 180 - 240 264 - 330
Singapore 55 - 80 70 - 105 80 - 110 165 - 225
NOTES

INFRASTRUCTURE
Voice/ Solutions &
Cisco Comms Network Technical Enterprise NOC
WAN Engineer Engineer Design Architect Architect Engineer
China 180 - 300 220 - 350 300 - 450 350 - 500 400 - 550 150 - 220
Hong Kong SAR 500 - 800 560 - 1,000 550 - 1,000 760 - 1,400 760 - 1,400 460 - 760
Japan 8 - 14 8 - 12 10 - 14 11 - 16 11 - 16 6-8
Malaysia 78 - 216 96 - 216 120 - 240 120 - 240 180 - 300 84 - 180
Singapore 55 - 100 50 - 95 90 - 150 120 - 180 140 - 220 45 - 60
Sybase/ Windows
Oracle/MS Storage Voice Network (Wintel)
SYSTEMS ADMINISTRATION Unix Admin SQL DBA Engineer Engineer Engineer Admin
China 280 - 450 350 - 580 280 - 380 200 - 280 200 - 350 150 - 300
Hong Kong SAR 500 - 900 470 - 800 460 - 860 660 - 950 480 - 860 420 - 800
Japan 7 - 10 8 - 12 8 - 12 8 - 12 8 - 12 8 - 12
Malaysia 84 - 180 96 - 216 96 - 180 96 - 216 96 - 216 60 - 180
Singapore 70 - 120 70 - 150 75 - 125 45 - 100 65 - 130 55 - 90
Security Security Messaging Unix Pre Sales

TECHNICAL SPECIALIST Engineer Consultant Specialist Consultant Engineer
China 350 - 550 350 - 600 N/A N/A 250 - 400
Hong Kong SAR 500 - 800 700 - 1,100 620 - 1,000 500 - 900 500 - 920
Japan 8 - 14 8 - 16 8 - 12 8 - 12 10 - 16
Malaysia 72 - 192 120 - 216 120 - 216 96 - 180 96 - 216
Singapore 70 - 125 100 - 155 95 - 120 80 - 140 120 - 190
Helpdesk Network
MANAGEMENT ROLES Manager Manager IT Manager
China 280 - 480 300 - 500 400 - 800
Hong Kong SAR 480 - 920 600 - 1,000 760 - 1,200
Japan 10 - 12 10 - 14 12 - 16
Malaysia 96 - 180 120 - 240 120 - 240
Singapore 85 - 140 100 - 160 90 - 190
NOTES

BUSINESS
Technical Business Business/
ANALYSIS & PROJECT Administration Process Analyst Systems Analyst
China 250 - 380 300 - 550 250 - 400
Hong Kong SAR 460 - 760 460 - 840 360 - 660
Japan 8 - 10 10 - 12 10 - 12
Malaysia 120 - 180 96 - 180 90 - 144
Singapore 120 - 175 110 - 150 90 - 130
Project/
Project Manager Program Director IT Audit
China 320 - 600 550 - 1,200 400 - 800
Hong Kong SAR 580 - 950 900 - 1,400 600 - 1,000
Japan 8 - 14 12 - 16 8 - 14
Malaysia 120 - 240 216 - 360 96 - 180
Singapore 120 - 190 190 - 280 90 - 175
PeopleSoft PeopleSoft Basis

ERP/CRM Technical Functional Administration SAP Analyst
China 250 - 420 250 - 450 150 - 200 220 - 450
Hong Kong SAR 550 - 900 670 - 900 500 - 700 500 - 1,000
Japan 12 - 16 10 - 14 10 - 12 10 - 13
Malaysia 90 - 150 100 - 180 90 - 160 96 - 144
Singapore 80 - 130 90 - 170 90 - 150 75 - 130
SAP Functional ERP Project

Consultant ABAP Developer Oracle Developer Manager
China 300 - 500 250 - 450 220 - 350 600 - 1,000
Hong Kong SAR 520 - 1,000 500 - 800 500 - 800 700 - 1,200
Japan 10 - 14 10 - 12 10 - 12 10 - 14
Malaysia 144 - 240 70 - 120 80 - 144 144 - 300
Singapore 95 - 160 55 - 85 66 - 110 120 - 200
NOTES

BUSINESS
Data Centre Service Delivery Client Relationship Professional
MANAGEMENT ROLES Manager Manager Manager Services Manager
China 500 - 1,100 600 - 1,000 400 - 800 600 - 1,200
Hong Kong SAR 650 - 1,100 700 - 1,100 700 - 900 1,000 - 1,800
Japan 8 - 10 12 - 16 12 - 16 12 - 16
Malaysia 144 - 240 120 - 180 160 - 260 180 - 300
Singapore 110 - 170 160 - 280 160 - 250 160 - 250
Chief Information Director Network

IT Director Officer Project Manager Operations
China 800 - 1,800 1,500 - 3,000 400 - 650 500 - 700
Hong Kong SAR 950 - 1,750 1,500 - 2,500 580 - 800 550 - 850
Japan 14 - 18 17 - 25 8 - 14 12 - 20
Malaysia 300 - 420 300 - 600 120 - 240 240 - 420
Singapore 220 - 350 325 - 525 130 - 220 160 - 250
BUSINESS DEVELOPMENT Manager Senior Manager Sales Director Account Manager

China 455 - 700 500 - 1,250 850 - 2,000 390 - 845
Hong Kong SAR 750 - 1,100 1,000 - 2,000 1,500 - 1,800 620 - 830
Japan 10 - 16 12 - 18 10 - 20 10 - 20
Malaysia 150 - 210 168 - 300 240 - 480 120 - 180
Singapore 120 - 220 160 - 270 250 - 480 120 - 210
Technical Sales
Presales Consultant Presales Manager Manager Industry Consultant
China 300 - 900 600 - 1,200 600 - 900 300 - 600
Hong Kong SAR 550 - 900 620 - 900 1,400 - 1,800 N/A
Japan 12 - 18 14 - 20 N/A N/A
Malaysia 100 - 200 144 - 300 216 - 350 300 - 480
Singapore 130 - 215 170 - 250 170 - 250 320 - 550
NOTES

TELECOM | DEVELOPMENT
Analyst
BILLING Development Integration Support Architect Business Manager
Japan 7 - 10 6-8 5-8 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 - 170 95 - 160 100 - 170
Analyst
CRM Development Integration Support Architect Business Manager
Japan 7 - 10 6-8 5-8 8 - 12 8 - 12 8 - 12
Malaysia 90 - 150 90 - 150 60 - 120 130 - 220 110 - 180 130 - 220
Singapore 85 - 140 95 - 160 70 - 130 120 - 200 100 - 160 120 - 210
Analyst
SDP Development Integration Support Architect Business Manager
Japan 7 - 10 6-8 5-8 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 - 170
Analyst
OSS Development Integration Support Architect Business Manager
Japan 7 - 10 6-8 5-8 8 - 12 10 - 14 10 - 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
Analyst
BSS Development Integration Support Architect Business Manager
Japan 7 - 10 6-8 5-8 8 - 12 10 - 14 10 - 14
Malaysia 80 - 120 80 - 120 60 - 120 120 - 220 100 - 160 120 - 200
Singapore 90 - 130 75 - 130 60 - 120 110 - 180 90 - 150 105 - 170
Analyst
VAS Development Integration Support Architect Business Manager
Japan 7 - 10 6-8 5-8 8 - 12 8 - 12 8 - 12
Malaysia 80 - 130 70 - 120 70 - 130 120 - 220 80 - 145 100 - 190
Singapore 85 - 125 75 - 120 70 - 120 100 - 170 75 - 130 90 - 170
Analyst
EAI Development Integration Support Architect Business Manager
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
Singapore 95 - 140 85 - 140 72 - 120 120 - 190 110 - 160 110 - 180
NOTES

TELECOM | INFRASTRUCTURE
MPLS NETWORK Engineer Integration Support Architect Presales Manager
Japan 6 - 10 6 - 10 6-8 8 - 14 10 - 16 10 - 18
Malaysia 70 - 130 75 - 110 60 - 100 120 - 200 150 - 220 120 - 190
Singapore 70 - 120 70 - 100 60 - 100 120 - 200 140 - 210 110 - 180
FIXED & MOBILE NETWORK Engineer Integration Support Architect Presales Manager
Japan 6 - 10 6 - 10 6-8 8 - 14 10 - 16 10 - 18
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
Field Service Senior

BTS/MICROWAVE Engineer Engineer Lead Manager
Japan 5-8 8 - 10 8 - 12 10 - 16
Malaysia 70 - 90 100 - 130 120 - 170 120 - 190
Singapore 60 - 80 70 - 110 78 - 140 110 - 170
VAS NETWORK Engineer Senior Engineer Manager

Japan 6 - 10 7 - 10 8 - 12
Malaysia 70 - 120 100 - 130 120 - 160
Singapore 75 - 120 90 - 120 100 - 160
TELECOM | BUSINESS
Business Project Project/Program
ANALYSIS & PROJECT Transformation Manager Director
Japan 8 - 12 8 - 12 10 - 16
Malaysia 180 - 300 120 - 240 240 - 720
Singapore 140 - 250 130 - 200 190 - 300
Service Managed Chief Solution Director

MANAGEMENT ROLES Delivery Mgr Services Mgr Architect Services
Japan 9 - 14 9 - 14 12 - 16 12 - 18
Malaysia 120 - 240 180 - 300 240 - 420 330 - 540
Singapore 120 - 180 110 - 250 190 - 310 280 - 420
Senior Account Presales Presales Technical Industry

BUSINESS DEVELOPMENT Manager Manager Consultant Manager Sales Manager Consultant
Japan 15 - 20 7 - 12 7 - 13 9 - 14 8 - 14 8 - 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

INSURANCE
HONG KONG SAR Therefore, the most in-demand skill This year’s key focuses for the industry in
amongst hiring employers currently is the Japan include the creation of new
INSURANCE REMAINS A CANDIDATE ability to adopt digitalisation within the platforms where customers can buy
DRIVEN MARKET; INCREMENTS business. Be it business development, insurance products and get relevant
INCREASINGLY NECESSARY TO RETAIN underwriting or compliance, a common skill advice; more personalised solutions that
TALENT that employers will be looking for in their fit individual customer needs; new
The Hong Kong insurance industry is set new hires is the ability to understand and products that mirror the challenges faced
to undergo massive transformation and integrate technology in their daily roles. by businesses today; and speeding up
change in 2020. In 2019, we observed sales and claims processes.
numerous initiatives, from the inception of This has created a high demand for
pure online insurers to increased More than 80 per cent of customers are
willing to use digital methods including experts in largescale transformation
digitisation, regulatory standardisation and email, mobile apps, video or phone projects and new business development,
strategic growth plans within the Greater instead of interacting with insurers via as well as experts in business innovation,
Bay Area. From a recruitment perspective, agents or brokers, a report by strategy and alliance. Specialists in these
insurance remains largely a candidate consultancy EY shows. fields, including programme and project
driven market, where a shortage of managers, are likely to continue seeing
qualified candidates has led employers to more competitive salary increases in the
fiercely compete for the best talent. coming year. Both consulting companies
We expect this candidate-short market to and insurance companies will also be
continue across the year, with the core looking for professionals who can
functions affected being risk, operations, augment their solid business knowledge
digital, technology, distribution, actuarial with the ability to think outside of the
and finance. Given the economic usual solutions and create hybrid products
landscape, organisations that are not able for customers.
to provide salary increments this year are GROWING INSURTECH PRESENCE
likely to see a migration of talent who will Source: Fintechnews.hk BRINGS RISK MANAGEMENT AND
easily be able to command a raise CUSTOMER CENTRICITY TO FOREFRONT
elsewhere.
As more digital avenues and insurtech
REGULATORY SKILLS IN HIGH DEMAND DIGITAL INSURERS ON THE RISE companies enter the industry, more
With new requirements from the Insurance In 2019, we saw the launch of purely in-house risk professionals will be needed
Authority (IA) of Hong Kong as well as online based life insurers, a trend that is to liaise and negotiate with the FSA. Owing
changing global standards, we are seeing expected to continue into the coming year. to these market conditions, last year’s
SALARY INFORMATION: INSURANCE
an increasing demand for talent with Online distribution is still a relatively demand for risk consultants in professional
regulatory compliance, market conduct, untapped market as the majority of firms is likely to continue into 2020.
distribution compliance and AML products are still distributed through Organisations will also be looking to hire
experience. IA proposal of an enhanced agents, bancassurance and brokers. The professionals experienced in customer
ERM (Enterprise Risk Management) regime emergence of digital insurers will be a centricity, customer experience, and
as well as the new IFRS 17 standard has led long-term initiative, with some products increasing customer satisfaction through
both global and Chinese-based insurance still requiring consultation in person. The providing a better service and customer
firms to incorporate a stronger risk short to medium term strategy will be to journey.
management culture by strengthening better integrate technology within current
their audit and governance functions. sales teams, be it through lead generation, DEMAND FOR ACTUARIAL, CLAIMS AND
sales tools, presentation or performance SALES SPECIALISTS CONTINUES
ABILITY TO ADOPT DIGITALISATION A
monitoring. Most distribution professionals Actuarial skillsets, particularly at mid-level,
TOP PRIORITY FOR EMPLOYERS
are now exploring how they can use remain in high demand and continue
2020 will see more innovations within technology to increase their client base.
operational and traditional functions such
as underwriting, claims and policy
JAPAN
administration becoming more automated
or streamlined. While technical authority BUSINESS TRANSFORMATION TO DRIVE
‘Insurers in Japan
and skillset remain most important,
insurers will be expected to integrate
HIRING TRENDS
will continue to
The insurance industry is going through a
automation into their daily operations,
transition the business into a center of
redefinition and evolution phase with the leverage the digital
goal of changing the way people think about
excellence, and overseeing policies and
cases on a macro level.
insurance and what they associate with it. wave in 2020.’

to demand competitive salaries. The same products and online avenues as a means of to markets and build sales capacities.
can be expected for claims and sales diversifying their revenue stream. With the Competition in the market continues to
specialists with product knowledge and a move towards digital and online becoming grow and attracting the best talent is an
significant amount of relevant experience. one of the growing sales channels in increasingly common challenge.
insurance, candidates with digital marketing,
While the auto claims field is currently less CORE FUNCTIONS REMAIN IN HEALTHY
product development and product
active due to the decrease in accident DEMAND
marketing skillsets are increasingly in
rates and number of cars held, the short-
demand and will continue to be throughout In a continuing trend from the last two
term car insurance market is growing.
2020. Product development candidates who years, we anticipate modest growth across
Other short-term insurances like travel, pet
also have the ability to ideate innovative back office and support functions but will
or warranty are also growing, leading to
insurance products are highly sought-after likely continue to see healthy demand for
higher demand and increasing salaries for
in the industry at the moment. experienced professionals in core
professionals specialising in these products
functions such as underwriting and
or carrying broad industry knowledge. ACTUARIES SEE SPIKE IN VALUE
claims. There remains a shortage of
Actuaries, particularly qualified ones, have qualified actuaries in the market and,
MALAYSIA historically been highly sought, but the actuaries are likely to remain in a strong
demand for this skillset has recently position to command higher salaries when
CONSUMER AWARENESS AND CHOICE
spiked even further along with a rise in switching jobs in 2020.
INCREASES
salaries. Relevant candidates with
CANDIDATES FOR CONTROL AND
As Malaysia moves towards becoming a demonstrated experience in pricing,
GOVERNANCE FUNCTIONS HIGHLY
high-income nation, awareness of the valuation and IFRS17 reporting are
SOUGHT-AFTER
need for insurance is growing as well — be becoming valuable assets for insurers.
it for life or general purposes. Malaysian Control and governance functions,
INSURETECH BOOM BRINGS DIGITAL
consumers also now have the option of including audit, risk & compliance, will
SKILLS TO FOCUS
choosing between conventional and the remain critical areas of focus for many
shariah-compliant Takaful insurance. Malaysia is seeing a boom in insuretech insurers as they look to adapt to a
companies and insurance aggregators, changing regulatory environment and
REMOVAL OF TARIFFS CREATES DEMAND
bringing data analytics, cyber security and develop an anticipatory attitude to
FOR UNDERWRITERS
software development skills to the changing risks. Given the limited number
Following the removal of tariffs on motor forefront. Talent that can align both the of candidates with relevant domain
insurance in Malaysia, this year saw tariffs on product knowledge and technical needs of experience in the Singapore market, such
fire insurance be lifted as well. But this insurance companies will be in high candidates should be able to command
liberalisation has led to stiffer competition demand in the years to come. significant salary increases.
and increased pressure on underwriting
INSURETECH BOOM WILL DRIVE
margins, increasing the demand for good SINGAPORE DEMAND FOR TECHNICAL CANDIDATES
underwriters not just within fire and motor,
EXPANSION EFFORTS WILL LEND MORE
but also across other asset classes such Technology will continue to play a bigger
IMPORTANCE TO SALES FUNCTIONS
as medical, health, property, engineering and role in the insurance industry through
more. What we have seen is that employers 2019 was a positive year for the insurance 2020, particularly as more insuretech
are very much willing to paying underwriters industry in Singapore, as many insurers start-ups enter the market. In addition,
a premium salary for their services. continued to explore opportunities for many established insurance names are
expansion in the market. Insurers have embedding innovative and emerging
CANDIDATES WITH PRODUCT
focused on bolstering their sales and technologies and strategies into their
DEVELOPMENT SKILLS IN HIGH DEMAND
distribution capabilities to take advantage business to stay competitive in the market.
Insurers are focusing on expanding their of the significant opportunities available Tech savvy candidates with deep domain
sales force and distribution channels with a and stay ahead of competitors. knowledge in insurance will thus have the
focus on staying competitive in the market. advantage in securing these highly
There has been a continued focus on cost
An increasing number of insurance sought-after roles.
control and rationalisation in the industry,
providers now have customised digital along with strategies to strengthen access
Department
ACTUARIAL Chief Actuary Head Senior Manager Manager Associate
Hong Kong SAR 1,600 - 2,800 1,200 - 1,800 840 - 1,200 600 - 780 180 - 480
Japan 30 - 35 20 - 25 14 - 21 12 - 18 5-9
Malaysia 420 - 680 300 - 420 180 - 360 84 - 192 62 - 90
SALARY INFORMATION: INSURANCE
Singapore 260 - 440 180 - 340 140 - 180 120 - 150 50 - 90
Associate
ACTUARIAL - PRICING Head of Pricing Director Director
Hong Kong SAR 1,800 - 2,200 1,300 - 1,800 1,000 - 1,200
Assistant
Senior Manager Manager Manager
Hong Kong SAR 720 - 900 540 - 660 360 - 480
Associate Assistant
ACTUARIAL - AUDIT Director Director Senior Manager Manager Manager
Hong Kong SAR 1,500 - 1,800 1,000 - 1,300 720 - 900 600 - 780 480 - 540
NOTES

INSURANCE
Head of
Chief Distribution Chief Agency Head of Alternate Head of Sales
DISTRIBUTION Officer Officer Bancassurance Distribution Development
Hong Kong SAR 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 SAR 1000 - 1,600 660 - 960 480 - 660 360 - 480 180 - 300
Japan 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
Department Assistant Bancassurance

BANCASSURANCE Head Senior Manager Manager Manager Officer
Hong Kong SAR 1,200 - 2,000 720 - 1,100 480 - 720 360 - 480 180 - 300
Japan 15 - 20 12 - 15 10 - 12 6 - 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

PENSION Head Senior Manager Manager Manager Officer
Hong Kong SAR 1,200 - 2,500 720 - 1,000 480 - 720 300 - 480 180 - 300

EMPLOYEE BENEFITS Head Senior Manager Manager Manager Officer
Hong Kong SAR 1,200 - 2,000 720 - 1,000 480 - 720 360 - 480 180 - 300
ALTERNATE DISTRIBUTION Channel Director Senior Manager Manager Assistant Manager

Hong Kong SAR 1,100 - 1,400 750 - 900 540 - 690 400 - 500
Japan 15 - 25 12 - 18 10 - 14 6 - 10
Malaysia 168 - 240 168 - 150 72 - 108 42 - 60
Singapore 155 - 250 120 - 150 90 - 120 70 - 80
Chief Financial Senior Finance Finance

FINANCE Financial Officer Finance Director Controller Manager Manager
Hong Kong SAR 1,800 - 3,000 1,080 - 1,800 1,080 - 1,800 720 - 1,080 540 - 780
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

INSURANCE
Chief Assistant
UNDERWRITING LIFE Underwriter Director Senior Manager Manager Manager
Hong Kong SAR 1,000 - 1,800 900 - 1,200 696 - 900 540 - 780 420 - 540
Japan 18 - 25 15 - 18 10 - 15 8 - 12 6-8
Malaysia 300 - 540 216 - 300 180 - 228 84 - 180 60 - 80
Singapore 300 - 420 250 - 300 150 - 200 100 - 140 70 - 90
Chief Head of Assistant

UNDERWRITING GENERAL Underwriter Business Line Senior Manager Manager Manager
Hong Kong SAR 1,000 - 2,000 900 - 1,700 600 - 780 550 - 650 300 - 480
Japan 18 - 25 15 - 18 10 - 15 8 - 12 6-8
Malaysia 300 - 480 220 - 420 144 - 240 96 - 156 72 - 96
Singapore 300 - 420 250 - 300 150 - 200 100 - 140 70 - 90
Assistant
CLAIMS LIFE Head of Claims Senior Manager Manager Manager
Hong Kong SAR 800 - 1,200 650 - 780 504 - 660 360 - 540
Japan 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
Head of Assistant
CLAIMS GENERAL Head of Claims Business Line Senior Manager Manager Manager
Hong Kong SAR 750 - 1,200 700 - 800 650 - 750 500 - 650 300 - 450
Japan 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
Senior Project/ Assistant Business

PROJECTS Program Head Program Manager Project Manager Manager Analyst
Hong Kong SAR 1,300 - 2,200 750 - 1,100 540 - 880 360 - 490 240 - 455
Japan 20 - 25 14 - 22 8 - 15 6 - 11 5 - 10
Malaysia 300 - 420 240 - 300 156 - 240 84 - 156 56 - 132
Singapore 250 + 180 - 250 140 - 180 90 - 130 60 - 80
Associate
Chief Strategy Director/
STRATEGIC Officer Director/AVP Senior Manager Manager Analyst
Hong Kong SAR 2,500 - 2,800 1,400 - 2,200 900 - 1,400 600 - 850 280 - 540
Japan 20 - 30 15 - 25 13 - 19 10 - 16 5 - 11
Malaysia 300 - 420 240 - 300 156 -240 84 - 156 56 - 120
Singapore 230 + 180 - 230 140 - 180 90 - 130 60 - 80
NOTES

INSURANCE
Senior Assistant
OPERATIONS COO Manager Manager Manager
Hong Kong SAR 1,800 - 2,500 700 - 950 540 - 720 420 - 540
Japan 15 - 30 12 - 18 8 - 12 6 - 10
Malaysia 420 + 180 - 288 120 - 216 72 - 120
Singapore 200 - 250 140 - 200 90 - 140 70 - 90
Head of Senior Product Assistant

PRODUCT MANAGEMENT Products Director Manager Manager Manager
Hong Kong SAR 1,800 - 2,500 1,100 - 1,600 780 - 1,080 500 - 720 330 - 460
Japan 14 - 20 N/A 10 - 15 8 - 12 6 - 10
Malaysia 180 - 264 N/A 120 - 180 96 - 156 72 - 90
Singapore 170 - 300 N/A 120 - 150 100 - 150 70 - 80
Head of
Chief
Compliance Compliance/ Compliance Senior Assistant
COMPLIANCE Officer AVP Director Manager Manager Manager
Hong Kong SAR 2,200 - 2,600 1,300 - 1,800 960 - 1,300 780 - 960 540 - 780 480 - 540
Assistant
Head of Audit Senior Audit Audit Audit
AUDIT Chief Auditor Audit/AVP Director Manager Manager Manager
Hong Kong SAR 2,200 - 2,800 1,300 - 1,800 1,100 - 1,600 720 - 960 540 - 780 480 - 540
RISK - Chief Risk Senior Risk Assistant

ENTERPRISE RISK/FINANCIAL RISK Officer Head of Risk Risk Director Manager Risk Manager Risk Manager
Hong Kong SAR 2,200 - 2,600 1,300 - 1,800 960 - 1,500 720 - 960 540 - 840 456 - 540
Head of
RISK - Operational Senior Risk Assistant
ENTERPRISE RISK/OPERATIONAL RISK Risk Risk Director Manager Risk Manager Risk Manager
Hong Kong SAR 1,600 - 2,200 960 - 1,400 780 - 1,020 600 - 840 456 - 540
Senior Assistant
CUSTOMER SERVICE Head of CS Manager Manager Manager
Hong Kong SAR 840 - 960 600 - 780 480 - 660 360 - 480
Head of Policy Senior Assistant

POLICY ADMINISTRATION Administration Manager Manager Manager
Hong Kong SAR 840 - 1,200 600 - 780 480 - 660 360 - 480
NOTES

LEGAL
CHINA talents within MNCs are expected to be regional and local experience, 4-10 years
reasonable, but Chinese corporations are PQE (Post-Qualified Experience) and who
LOCAL CORPORATIONS AND LAW likely to be more willing to offer attractive are trilingual in English, Cantonese and
FIRMS TO CONTINUE EXPANSION- compensation for great candidates as part Mandarin will be the most sought-after.
FUELLED HIRING of their global footprint expansion.
Due to the inherent difficulty in finding
The outlook for China’s legal market exemplary talent, salaries have seen a
recruitment in 2020 is fairly stable, owing HONG KONG SAR general increase as companies offer
to the talent development of legal financial incentives to attract top talent to
candidates over the past few years by MARKET UNCERTAINTIES EXPECTED;
their organisations.
corporations (especially MNCs) who have TECH LAWYERS IN HIGH DEMAND
already established their legal teams Following a surprisingly strong
locally. However, for Chinese corporations, performance in 2019, Hong Kong’s legal
JAPAN
the bulk of legal hiring will consist of mid recruitment industry is set to have an BILINGUAL CANDIDATES IN HIGH DEMAND;
to senior legal experts who can assist in uncertain year in 2020. COMPANIES RECOMMENDED TO EXPAND
their global expansion plans by helping BUDGETS FOR THE RIGHT HIRE
them build international legal teams. With market conditions in the region being
Private practice recruitment has also rather unpredictable, the bulk of legal As more Japanese companies expand
stabilised in recent years, especially for hiring is expected to come from large overseas, so does the demand for fluent,
foreign law firms. However, it is likely that corporate organisations, major financial bilingual candidates in their legal
2020 will also see a number of locally institutions and growing Chinese departments. Most companies are
based international law firms continue companies that are continuing their recommended to and currently do
expanding, with additional headcounts to investment in expanding overseas. In compensate higher for the right talent that
capitalise on their success. terms of new areas for hiring, data privacy, can also meet their language requirements.
cyber security and TMT (technology,
HIRING ACTIVITY IN M&A, SPECIALIST media and telecoms) lawyers will see the
PRACTICE, LIKELY TO CONTINUE most demand as the region continues its
INTO 2020 After changes to its M&A guidelines
exciting growth in fintech. for the first time in more than a decade,
Corporate M&A lawyers were the most INTERNAL CORPORATE GOVERNANCE the Japanese market is readying itself
in-demand legal talent for 2019, a hiring for an expected spree of management
TAKES HIRING PRECEDENCE FOR THE buyouts and companies taking over
trend that is unlikely to change over the FIRST TIME
coming year. Corporate clients will still be listed subsidiaries.
seeking legal candidates with strong and 2019 saw the first ever major shift in the
relevant industry backgrounds, especially legal recruitment market where M&A legal
in life science, TMT and consumer roles did not dominate the market. Instead,
industries, to reduce hiring risk and ensure companies have been actively recruiting in
they easily fit into their new work privacy, payments, and compliance as
environments. For both private practice businesses turn their focus on internal
corporate governance. However, M&A
SALARY INFORMATION: LEGAL
and corporations, the demand for talent
from specialty practices is highly sought lawyers still remain in high demand, as
after, including employment, e-commerce, always. Mid-level candidates who are
data privacy and compliance. trilingual and have M&A experience are
likely to find a job with ease.
REMUNERATION REMAINS COMPETITIVE,
PARTICULARLY FOR LOCAL HIRES Within private practice, we observed less
hiring in capital markets and corporate Source: Asian Legal Business
On the remuneration front, salaries within sectors but also growth in the disputes,
private practice will continue to have litigation and arbitration space. We
positive increases, particularly amongst strongly expect this trend to stay its
successful firms who are keen to course where conditions remain HIRING TRENDS POINT TO
discourage good talent from jumping to challenging, uncertain and unpredictable. RESTRUCTURING AHEAD
competitors or in-house roles. While Many Japanese companies ramped up
corporate companies may be less willing to FIERCE COMPETITION FOR TALENT WILL
RESULT IN INCREASED FINANCIAL their foreign investments in 2019, leading
offer competitive salaries due to cost to a reactive increase in demand for
controls, junior and mid-level talents are INCENTIVES
experienced M&A and cross-border
likely to be fielding numerous offers this Competition for good talent will likely be transaction lawyers across in-house and
year. For employers, this means competing fiercer than ever in 2020, as businesses will private practice sectors. Looking at this
for their preferred candidates with focus on being thorough and certain when trend, in addition to the increased
attractive offers. Increments for senior level they invest in new hires. Candidates with

hiring activity for compliance professionals in-house legal counsels, with emphasis on With stricter governance guidelines
in 2018-2019, we predict that companies data management as well as data privacy provided by the finance sector, significant
will be reviewing their legal team and security. growth was observed in the hiring of
structures in 2020 – particularly for corporate secretarial and compliance
TMT INDUSTRY LEADS THE DEMAND FOR
in-house legal teams. There will also be a professionals both for in-house and service
TECH AND IT LAWYERS
need for succession planning, filling gaps, providers. This trend is likely to continue as
and reviewing the overall career path for More international organisations within the companies remain on the lookout despite
in-house law professionals. Telco/Media/Tech (TMT) spheres are the insufficient talent pool.
expanding into Malaysian markets,
CONTRACT MANAGERS IN DEMAND; US-CHINA TRADE WAR AND BREXIT
rounding up the demand for more
COMPANIES INCREASINGLY FLEXIBLE TO EXPECTED TO IMPACT LEGAL HIRING
technology and IT lawyers. With more
COUNTER TALENT SHORTAGE
lawyers leaving private practices behind to The impact of the US-China Trade war and
Contract managers continue to be highly focus on emerging industries like TMT, Brexit on the legal recruitment market will
sought after by consulting and other legal firms are starting to build new be felt over the coming year as hiring from
service firms. To battle the candidate short specialised TMT practice areas to support manufacturing & supply chain industries is
market, some companies are becoming the needs for legal advisory work within expected to slow down. However, larger
more flexible with their expectations of this booming sector. This is not only companies remain extremely competitive
candidates and are even considering those applicable to large tech giants, but also in their attempts to attract top talent no
with a background in sales or consulting. medical research companies and start-ups. matter the seniority of the candidates
However, most employers still prefer their Within the TMT sector alone, salary involved. The growth of fintech in the
candidates to have strong knowledge in increments are averaging at 20% at the region has also attracted major players to
legal contracts, as well as with the ability lowest, with higher percentages for set-up base in Singapore, which is likely to
to work closely with the business side. specialised IT lawyers with in-depth result in a continued demand for retail
experience and knowledge in hardware/ finance and technology lawyers.
software agreements, licensing, cyber
MALAYSIA security and/or GDPR regulations.
The demand for specialist lawyers in
sectors such as construction, technology
LEGAL HIRING IMPACTED BY TECH
and pharmaceuticals is growing as
TRANSFORMATION
SINGAPORE Singapore is increasingly favoured as a
With the advancement of technology, regional hub for several MNCs. Lawyers
INTERNATIONAL LAW FIRMS HIRING IN
legal practices in Malaysia are rapidly from these sectors can expect to receive
PROJECT FINANCE AND PRIVATE M&A
changing and directly affecting lucrative financial and non-equitable
recruitment trends across all industries. While most US-based law firms in incentives in an effort to prevent talent
Within the financial services sector, Singapore are currently being conservative migration to competitors.
international banks are placing more in their hiring, UK-based law firms are
emphasis on the need for IT lawyers, expected to see a steady growth.
specialising in hardware, software and International law firms have identified
licensing agreements as society capital markets, project finance and
progresses towards all things automation. private M&A as their main areas for hiring
Salary increments for legal functions in the coming year. Salaries for such roles In 2019, the Monetary Authority of
within the financial services sector are still are expected to rise significantly due to Singapore (MAS) and the Singapore
averaging at 15% to 20% with smaller the ongoing talent shortage persists. Academy of Law (SAL) rolled out a pilot
institutions leaning towards 15% and the Lawyers qualified in multiple jurisdictions programme to connect fintechs with
larger banks leaning towards 20%, are exceptionally rare in the market and legal service providers to enhance
Singapore’s appeal as a fintech hub.
depending on seniority and the specialised can expect to receive generous pay
legal practice area. packages, alongside being acknowledged
as valuable assets to the firms.
MORE FIRMS INVESTING IN LEGAL DATA
MANAGEMENT SKILLSETS CANDIDATES CONTINUE TO MIGRATE TO
IN-HOUSE ROLES
On the other side of the spectrum, lawyers
within the commercial and industrial sector As predicated in 2018, legal candidates
are also seeing the impact of automation continue to move in to in-house positions
as more and more organisations invest in at 1-2 years of Post-Qualified Experience
lawyers who are familiar with technical and (PQE). Companies tend to find junior
specialised IT contracts as well as data associates more malleable and affordable
protection regulations and GDPR. as opposed to senior associate and higher,
Companies are also heavily investing in leading to hesitance when onboarding,
GDPR training and workshops for their particularly within SMEs. Source: The Business Times
SALARY INFORMATION: LEGAL

LEGAL
PRIVATE PRACTICE Paralegal Newly qualified 1 year PQE 2 years PQE 3 years PQE
China (International Firm) 180 - 360 500 - 1,000 600 - 1,100 650 - 1,230 750 - 1,300
China (PRC Firm) 160 - 260 280 - 414 260 - 460 300 - 500 350 - 550
Hong Kong SAR (International Firm) 240 - 840 980 - 1,092 1,050 - 1,190 1,162 - 1,302 1,232 - 1,372
Hong Kong SAR (NY/US Firm) 350 - 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 - 81
Singapore 48 - 72 72 - 84 84 - 96 96 - 108 108 - 120
4 years PQE 5 years PQE 6 years PQE 7 years PQE 8 years PQE
China (International Firm) 800 - 1,410 900 - 1,530 1,000 - 1,620 1,100 - 1,710 1,200 - 1,840
China (PRC Firm) 400 - 600 520 - 700 600 - 750 650 - 900 700 - 1,000
Hong Kong SAR (International Firm) 1,260 - 1,540 1,344 - 1,680 1,512 - 1,820 1,610 - 1,890 1,750 - 2,170
Hong Kong SAR (NY/US Firm) 2,903 3,138 3,372 3,560 3,842
Japan 8 - 15 10 - 18 10 - 20 10 - 22 12 - 25
Malaysia 66 - 84 70 - 96 75 - 108 80 - 114 90 - 144
Singapore 120 - 132 120 - 144 132 - 156 132 - 180 180 +
Salaried Salaried Professional

Partner Partner Support
(Junior) (Senior) Lawyer
China (International Firm) 1,860 + 3,100 + 600 - 1,200
China (PRC Firm) 1,500 + 2,500 + 600 - 800
Hong Kong SAR (International Firm) 2,500 + 3,000 + 950 - 1,500
Hong Kong SAR (NY/US Firm) 4,000 + 6,000 + 950 - 1,500
Japan 16 + 20 + 11 +
Malaysia 144 - 168 240 + 144 - 180
Singapore 192 - 250 325 + 75 - 96
Junior
Legal Counsel Legal Counsel Legal Counsel Senior Counsel General
COMMERCIAL IN-HOUSE Paralegal (0-3 PQE) (4-6 PQE) (7-10 + PQE) (10 + PQE) Counsel
China 140 - 250 200 - 400 350 - 750 650 - 1,200 750 - 1,500 1,200 - 4,000
Hong Kong SAR 180 - 840 500 - 1,120 950 - 1,750 1,150 - 1950 1,500 – 2,400 1,800 - 4,000
Japan 4-8 5 - 10 8 - 15 10 - 20 14 - 25 17 +
Malaysia 48 - 60 38 - 60 54 - 96 108 - 132 120 - 360 300 - 540
Singapore 46 - 65 58 - 91 117 - 136 130 - 156 156 - 250 350 - 500
Junior
Legal Counsel Legal Counsel Legal Counsel Senior Counsel General
FINANCIAL SERVICES IN-HOUSE Paralegal (0-3 PQE) (4-6 PQE) (7-10 + PQE) (10 + PQE) Counsel
China 150 - 300 280 - 600 500 - 860 800 - 1,500 1,000 - 2,000 1,500 - 3,000
Hong Kong SAR 300 - 900 750 - 1,395 1,100 - 1,950 1,500 - 2,400 1,850 - 3,000 2,550 - 6,000
Japan 4-8 6 - 14 9 - 18 15 - 20 15 - 32 22 - 40
Malaysia 30 - 54 42 - 72 54 - 96 90 - 180 180 - 300 600
Singapore 52 - 65 52 - 91 104 - 130 150 - 200 300 - 450 500 +
NOTES

LIFE SCIENCES
CHINA sequencing), CART (cardiac likely to cause a high volume of hiring for
resynchronisation therapy) and cell R&D scientists with strong academic
THE LIFE SCIENCES INDUSTRY WILL therapies. Roles in specific functions like qualifications. Diagnostics and life sciences
CONTINUE TO BENEFIT FROM biomarker scientists, clinical research medical device companies will also benefit
INVESTMENTS physicians and medical advisors are in from the growth of biotech start-ups,
Driven by an increasingly aging population huge demand and can command up to 15 which will create an ecosystem that can
and growing healthcare requirements from per cent increments to encourage trigger more potential business leads.
middle-class populations, life sciences in retainment. There is also fierce Sales & marketing talent in this area are
China is considered to be one of the most competition between MNCs and domestic likely to be required at a later stage.
promising industries by both employers companies to attract such candidates in
and employees alike. the market. This competition has been
further aggravated by an increasing
JAPAN
The life sciences talent market in China number of Chinese talent that is moving REGULATORY CHANGES, AGEING
will continue to benefit from significant out to take bigger roles in other parts of SOCIETY AND COST PRESSURES DRIVE
investments that are being made into the the Asian region. R&D STRATEGY
country’s innovative pharmaceutical
industry. However, new regulations are Alongside adapting the nation-wide drive to
HONG KONG SAR allow more flexibility in the workforce, this
expected to introduce an amount of
uncertainty and challenges in the Chinese COMPANIES WILL HIRE SALES AND year’s focus for Japan’s life sciences industry
pharmaceutical market. Consequently, MARKETING PROFESSIONALS TO will likely be around R&D in oncology, rare
2020 is likely to see high demand for BOLSTER EXPANSION diseases, gene therapy and RNA related
market access and regulatory/government therapies. This is partly due to changes in
The medical device market is expected to
affairs experts. Such candidates can the Japanese regulatory landscape around
continue hiring across all functions, while
expect more than the average pay scale, facilitating approvals for orphan drugs, but
the pharmaceutical market will likely
particularly those with experience in new also due to the ongoing context of an
remain stable in its recruitment needs.
drug applications in both domestic and ageing society that has put pressure on
Considering the fierce market competition
overseas markets like the U.S. companies to perform at lower costs.
currently, companies tend to hire more
field-based sales and marketing To justify the cost effectiveness of their
professionals who can help them secure treatments, companies will need to
At the time of writing in October 2019, more market share. Many medical device continue hiring health technology
China was the second-largest pharma companies in particular are still in early assessment (HTA) and pricing specialists,
market globally behind the U.S. as well as real world evidence (RWE)
SALARY INFORMATION: LIFE SCIENCES
stages of expansion and are thus more

open to candidates with transferable skills generation specialists and epidemiologists,
from pharmaceutical companies and to support health outcomes. The
healthcare providers. regulatory changes have also translated
into a significant demand for regulatory
MEDICAL AFFAIRS, REGULATORY
affairs specialists.
AFFAIRS & CLINICAL PROFESSIONALS IN
HIGH DEMAND FOREIGN INVESTMENT FURTHER
FUELS THE GROWTH OF CONTRACT
In the technical and scientific category,
ORGANISATIONS
there is a high demand for medical affairs
and clinical professionals across all levels Japan remains an attractive market for
that is expected to continue this year. foreign start-ups and small companies,
More openings for technical engineers will especially in the medical devices and
be expected from healthcare distributors orphan drugs area. These companies are
Source: Financial Times as the market becomes more competitive in turn relying on contract research
with the availability of better device organisations (CROs) already present in
maintenance service packages at lower the country to start their operations.
costs than device manufacturers. Consequently, there is a growing reliance
LOCAL AND FOREIGN COMPANIES IN Regulatory affairs skill sets will also be in on CROs or contract sales organisations
FIERCE COMPETITION FOR LOCAL demand with growth in salaries expected (CSOs) in the sector for both
SPECIALIST TALENT for mid-level candidates. pharmaceutical and medical device
companies, as well as new CROs trying to
There has been more investment in fields BIOTECH STARTUPS LIKELY TO TRIGGER
penetrate the market.
like oncology, rare diseases and chronic MORE POTENTIAL BUSINESS
diseases, alongside cutting-edge In the clinical space, this translates into more
Ongoing government-funded projects in
technology like NGS (next generation pharmaceutical companies relying on CROs
biotech and life sciences innovation are
for their clinical trials, necessitating vendor

management roles like clinical trial managers PHARMA AND MEDICAL DEVICES government expenditure in the industry.
(CTMs). Conversely, CROs are hiring clinical COMPANIES SOURCE FRESH GRADS AT Despite regulatory red tape and having a
research associates (CRAs) with monitoring FAIRS AND SENIOR ROLES THROUGH relatively small local market, Singapore
experience. These market factors have REFERRALS remains a hub that will attract medical
created a high demand in an area that is device manufacturers globally due to its
Global MNCs in Malaysia will need to seize
already severely short on candidates. vast talent pool, technological
the opportunities that arise with the
advancements and strong infrastructure
EARLY RETIREMENT FOR MEDICAL current repositioning of funds in the
like intellectual property laws. This
REPRESENTATIVES & GROWTH OF healthcare sectors. Workforce growth will
complements the country’s strategic
OUTSOURCING RESULTS IN FEWER be important, specifically in roles that deal
geographical location which serves as an
INHOUSE SALES ROLES; MSL HIRING ON directly with hospital and clinic channels.
excellent entry point into the Asian market
THE DECLINE Seeing pharma and medical device
around the region.
companies at career fairs has also become
In the commercial area, pharmaceutical
a norm, where they set up booths to Moving into 2020, medical device players
companies have been implementing early
attract fresh graduates and management/ will transition to advanced manufacturing
retirement programs for medical
graduate trainees. For more senior-level practices, driven by strong competition
representatives, resulting in an abundance
roles, life science companies rely more on and the S$19 billion budget given by the
of experienced candidates on the market.
internal referral programs. country’s Research, Innovation and
Many established companies are replacing
Enterprise (RIE) 2020 plan. For
their sales teams with medical This is optimistic news for young hopefuls
candidates, this would necessitate a focus
representatives from CSOs that have been in Malaysia looking to develop a career in
on rigorous upskilling and training to
aggressively hiring – a trend expected to life sciences, who also have a good chance
remain relevant in an increasingly
continue in 2020. of being selected for entry level roles like
competitive market.
medical representatives or product
In the medical area, while recent years saw
specialists. While for more senior roles, AGEING POPULATION DRIVES
a surge in hiring for medical science liaison
this further emphasises the importance of INNOVATION IN HEALTHCARE
(MSL) roles, the trend decelerated in 2019
networking, staying relevant amongst
and will continue to do so in 2020. The rapid development of technology in
peers and being present at life science
Instead, more focus will be given to hiring Singapore, combined with its increasingly
conferences and such.
experienced medical advisors. Bilingual ageing population, has resulted in medical
PhD holders in specific therapeutic areas device and healthcare companies pushing
and medical doctors will be the most SINGAPORE for innovative solutions to meet rising
sought-after. The medical affairs area is demands. We have already observed the
RIPPLE EFFECT OF MERGERS &
still growing overall with yet again an normalisation of health IT solutions, such
ACQUISITIONS RESULTS IN THE
increase in MSL hiring from CSOs. as wearable technology, throughout 2019
CREATION OF NEW ROLES
and expect there to be a greater demand
The effects of dramatic M&A activities for personalised healthcare and medicine
MALAYSIA within the pharmaceutical space trickled in 2020. Despite the projected demand for
STRONG GROWTH EXPECTED WITHIN into the first half of 2019, leading more an innovative workforce, the industry is
THE HEALTHCARE SECTOR companies to focus on streamlining their currently facing a shrinking pool of talent.
workflows. This has resulted in the This will prompt more companies to
With the Malaysian government’s recent
creation of new innovative roles, conduct upskilling and training for current
announcement of allocating RM 30.6
particularly within larger pharmaceutical employees, but candidates with niche skill
billion to the healthcare industry, drastic
giants. In 2020, we expect growth in sets will still be highly sought after.
improvisations and improvements are
recruitment activity within the
expected within hospitals and healthcare
pharmaceutical industry as the ripple
facilities. These changes will not only
effects settle down and companies shift
apply to physical aspects and will most
their focus on innovation and growth.
likely be seen in healthcare processes and
systems across Malaysia. These changes, SINGAPORE MOVES TOWARDS ‘Companies in
together with a mostly balanced supply ADVANCED MANUFACTURING;
and demand of both jobs and candidates, CANDIDATES ENCOURAGED TO UPSKILL Singapore will be
mean that both fresh and experienced
candidates can now look forward to plenty
Singapore’s medical device manufacturing
industry is expected to continue growing
looking to address skill
of opportunities that are well-paid,
provided they match the specialised and
despite the global economic slowdown,
largely due to the growing demand for
shortages in 2020 with
often heavily technical qualifications and
upskilling and training.’
SALARY INFORMATION: LIFE SCIENCES
healthcare as well as increased
knowledge required from them.

LIFE SCIENCES
Country Account Area Sales

COMMERCIAL Manager Sales Director Medical Rep Manager Manager
China 2,000 - 4,000 900 - 1,500 100 - 300 300 - 500 350 - 600
Hong Kong SAR 1,800 - 3,000 950 - 1,300 195 - 364 350 - 480 450 - 700
Japan 15 - 30 14 - 18 5 - 11 6 - 12 10 - 15
Malaysia 400 - 600 250 - 350 40 - 60 80 - 120 90 - 140
Singapore 250 - 350 180 - 250 40 - 75 60 - 85 80 - 120
Regional Product Marketing Marketing Marketing

Sales Manager Manager Associate Manager Director
China 500 - 800 350 - 550 150 - 300 600 - 800 900 - 1,700
Hong Kong SAR 530 - 850 402 - 700 250 - 360 625 - 985 950 - 1,400
Japan 12 - 18 7 - 12 6 - 10 10 - 14 14 - 23
Malaysia 150 - 180 80 - 130 45 - 60 150 - 200 250 - 350
Singapore 120 - 160 80 - 140 40 - 60 120 - 160 180 - 240
Business Business
Development Development
Manager Director PR/Corp Comm
China 500 - 800 900 - 1,800 300 - 600
Hong Kong SAR 520 - 850 900 - 1,300 364 - 650
Japan 10 - 14 12 - 18 8 - 15
Malaysia 100 - 150 200 - 300 100 - 200
Singapore 90 - 140 180 - 250 70 - 150
Medical MSL Clinical

SFE Specialist Information (Commercial) Specialist
China 180 - 250 180 - 350 250 - 500 200 - 400
Hong Kong SAR 299 - 715 156 - 360 325 - 585 350 - 600
Japan 8 - 12 5 - 12 7 - 15 6-9
Malaysia 50 - 80 N/A 80 - 120 80 - 120
Singapore 70 - 100 90 - 200 70 - 100 70 - 120
NOTES

LIFE SCIENCES
Good Clinical Good Good Laboratory Pharma-
Practice Manufacturing Practice Quality Control covigilance
TECHNICAL Manager Practice Mgr Manager Manager Manager
China 350 - 550 350 - 450 300 - 400 200 - 500 300 - 500
Hong Kong SAR 455 - 650 480 - 730 455 - 650 494 - 728 455 - 715
Japan 10 - 16 10-12 10 - 12 10 - 12 10 - 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 Medical Affairs Medical Affairs Drug Safety Drug Safety
Officer Manager Director Manager Senior Specialist
China 260 - 400 450 - 700 850 - 1,500 350 - 450 150 - 250
Hong Kong SAR 325 - 455 624 - 880 910 - 1,500 455 - 715 234 - 416
Japan 8 - 14 12 - 25 15 - 35 10 - 15 6-9
Malaysia N/A 120 - 180 210 - 290 N/A N/A
Singapore N/A 140 - 180 250 - 300 120 - 150 70 - 100
Regulatory Regulatory Scientific Clinical

Regulatory Affairs Affairs Affairs Research
Affairs Staff Manager Director Manager Associate
China 140 - 280 300 - 600 800- 1,500 N/A 120 - 250
Hong Kong SAR 234 - 390 416 - 750 880 - 1,200 600 - 780 286 - 416
Japan 5-9 8 - 14 16 - 22 10 - 14 4-6
Malaysia 60 - 100 100 - 200 200 - 300 75 - 120 42 - 70
Singapore 60 - 90 80 - 140 150 - 240 75 - 120 50 - 70
Senior Clinical Clinical Clinical

Research Research Project Study Research
Associate Manager Manager Monitor Director
China 200 - 350 350 - 650 350 - 650 250 - 400 800 - 1,500
Hong Kong SAR 455 - 620 585 - 845 585 - 900 240 - 416 910 - 1,300
Japan 6 - 10 12 - 16 12 - 20 6-8 14 - 25
Malaysia 60 - 90 84 - 110 84 - 110 N/A 350 - 500
Singapore 70 - 110 90 - 160 90 - 160 50 - 70 150 - 200
Data
Management Data SAS BioStatistic
Specialist Manager Programmer Manager
China 120 - 200 240 - 500 150 - 400 400 - 700
Hong Kong SAR N/A N/A N/A N/A
Japan 6 - 10 10 - 12 6 - 10 9 - 12
Malaysia N/A N/A N/A N/A
Singapore 60 - 70 70 - 90 60 - 90 120 - 150
NOTES

LIFE SCIENCES
Research &
Senior Principal Development
TECHNICAL Scientist Scientist Investigator Director Physician
China 200 - 300 350 - 500 600 - 1,300 850 - 3,000 400 - 700
Hong Kong SAR 300 - 550 550 - 700 600 - 1,300 850 - 3,000 N/A
Japan 6-8 8 - 12 12 - 17 18 - 30 13 - 30
Malaysia 48 - 60 60 - 90 N/A 198 + N/A
Singapore 50 - 80 80 - 90 90 - 120 150 - 180 150 - 250
Technical HEOR/
Application Support MSL Market Access
Medical Writer Specialist Specialist (Scientific) Staff
China 200 - 400 100 - 200 100 - 300 150 - 350 250 - 400
Hong Kong SAR 325 - 650 300 - 550 180 - 336 338 - 598 390 - 585
Japan 6 - 12 5 - 10 4-8 7 - 15 7 - 10
Malaysia N/A 40 - 70 48 - 80 80 - 150 72 - 96
Singapore 70 - 90 39 - 78 52 - 85 75 - 180 130 - 230
HEOR/ HEOR/
Market Access Market Access CMC
Manager Director Specialist Lab Director Lab Manager
China 400 - 700 800 - 1,200 120 - 200 500 - 800 300 - 450
Hong Kong SAR 520 - 845 910 - 1,300 N/A 540 - 840 360 - 600
Japan 10 - 15 14 - 22 8 - 12 12 - 16 8 - 13
Malaysia 120 - 200 200 + N/A 102 - 145 78 - 102
Singapore 230 - 300 250 + 180 - 250 104 - 156 65 - 105
DMPK/
Biology Medicinal Translational Pharmacology
Lab Staff Scientist Chemist Services Scientist Scientist
China 100 - 300 200 - 400 100 - 300 200 - 400 200 - 400
Hong Kong SAR 180 - 336 350 - 600 360 - 600 N/A N/A
Japan 4-7 4-8 4-8 7 - 12 7 - 12
Malaysia 25 - 48 60 - 120 62 - 120 N/A N/A
Singapore 39 - 65 65 - 156 70 - 180 N/A 65 - 156
Field Service
Engineer Service Manager
China 150 - 350 350 - 700
Hong Kong SAR 180 - 540 390 - 715
Japan 6 - 10 10 - 14
NOTES

MANUFACTURING & OPERATIONS
CHINA that many companies are still not making MALAYSIA

profits on these new technologies and
IMPACT OF GEOPOLITICS IN 2019 WILL some analysts have also forecasted SALARIES IN 2020 WILL BE DICTATED
CONTINUE INTO 2020 negative results in the coming years. This BY MARKET TRENDS; STEADY GROWTH
has caused companies to be extra careful EXPECTED
With no agreement in sight for the
US-China tariff war, China’s ongoing when hiring in these areas and 2019 was an eventful year for the
transition to a consumption economy and conservative with their salary increases. manufacturing & operations sector in
the continuous increase of labor costs have But while salaries this year are likely to Malaysia, with light manufacturing firms
left a strong impact on the strategy of remain on par with those in 2019, they are (particularly within the electrical and
industrial companies. The effects of these still significantly higher than that of the electronics industry), bearing much of the
on hiring are likely to continue into 2020. average population. fall-out from the US-China trade war. The
The automotive sector has been ongoing trend of health-conscious
With cost-cutting coming to the forefront,
increasingly facing headcount approval consumption has caused certain areas of
industrial companies will continue moving
issues, as well as hiring freezes since early demand within the FMCG industry to
their operations or even their headquarters
2019. This may be partly due to the trade increase/decrease, while the energy sector
to outside of tier one cities. The demand
frictions between the U.S and China, with has slowly picked up again with more
for production and engineering roles is
some companies adopting a “wait and demand from the manufacturing end.
expected to remain high, but delocalisation
SALARY INFORMATION: MANUFACTURING & OPERATIONS

see” attitude to their recruiting plans. Salaries will therefore vary across industries
to tier two or three cities may result in
Other industrial sectors have had a steady depending on these trends and the impact
decreased salaries. Many employees in
performance, with a high demand for the current economy will have, but are
these functions will have no choice but to
project managers, application engineers, expected to see year-on-year growth overall.
relocate, or lose their current employer.
field service engineers, and research & ELECTRICAL, ELECTRONICS AND
LOCAL COMPANIES AND CANDIDATES development professionals. ENERGY SECTOR EXPECTED TO PICK UP
TAKE CENTRESTAGE
AGEING POPULATION PUSHES SIGNIFICANTLY
With the China-based export model now EMPLOYERS TO HIRE FROM OVERSEAS; In 2020, we expect the electrical and
becoming obsolete, many companies are RELAX LANGUAGE REQUIREMENTS electronic industry to pick up as compared
focusing on developing a commercial
The shift to newer technology has led to a to last year, including companies returning
team. This has increased the demand for
significant mismatch and consequent gap to full operations and taking up bigger hiring
strong sales and marketing candidates
between employer requirements and plans by the end of the year. Considering the
who can bring revenue from China or the
current candidate markets. When hiring global trend towards implementing artificial
Asian region. R&D roles are also highly
for roles in new technologies, employers intelligence and 5G networks, we may see
sought after across all industries,
prefer hiring junior candidates; but the semiconductor industry in Malaysia rise
especially in pharmaceuticals, medical
according to statistics by the Japanese once again and become an industry to look
devices, electric vehicles or smart goods.
government, about 30 per cent of the out for. As for the energy sector, we
In these turbulent times, local companies country’s population is older than 65 years anticipate job growth within manufacturing
have the chance to take a leading position of age. The result is that such roles are left as demand increases, bringing with it a
owing to favourable domestic policies, unfilled for more than a year on average. demand for more experts as well. Pay scales
high amounts of funding and their ability in this sector are generally more favourable
to make decisions quickly. More than ever, To bridge this gap, companies are than average.
senior and mid-level candidates in all increasingly hiring qualified engineers from
overseas and relaxing their requirements LEADERSHIP & TECHNICAL SKILLS
functions have the chance to make a real
for Japanese language skills. However, INCREASINGLY MORE VALUABLE THAN
step up in their career, providing they can
candidates will still need conversational or INDUSTRY KNOWLEDGE
adapt to China’s local business climate.
business-level fluency in Japanese to be An interesting trend being observed is the
considered. Candidates with degrees in willingness of job seekers to move into
JAPAN engineering from universities in Japan or different industries. For instance, candidates
INDUSTRIAL SECTORS SEE MAJOR with work experience in a Japanese from the semiconductor industry are now
TECHNOLOGY SHIFT; AUTOMOTIVE company elsewhere in Asia will also have a securing opportunities in the energy sector;
SECTOR IMPACTED BY TRADE WAR strong advantage. or chemical engineering candidates moving
The industry is seeing a major shift from into the FMCG sector. Employers are also
mechanical technologies to automation. increasingly looking for skillsets like
Companies that were originally focused on leadership capabilities and technical
gasoline related products, for example, are qualifications over industry knowledge
now making significant investments in AI, alone. This trend will help effectively bridge
robotics, electronics, e-mobility & skill gaps in the market while also creating
connectivity. However, it is worth noting potential for higher salary adjustments.

AUTOMOBILE
PRODUCTION Engineer Supervisor Manager Director Vice President
China 90 - 150 150 - 280 180 - 700 500 - 1,200 1,200 - 2,000
Japan 5.5 - 6 7-9 8 - 12 14 - 18 N/A
Malaysia 40 - 70 70 - 90 120 - 180 300 - 360 N/A
ENGINEERING Engineer Supervisor Manager Director

China 90 - 150 150 - 280 250 - 600 500 - 1,300
Japan 5.5 - 7.5 7-9 9 - 12 14 - 18
Malaysia 40 - 70 70 - 90 130 - 200 300 - 360
R&D Engineer Supervisor Manager Director Vice President

China 90 - 250 180 - 350 400 - 900 700 - 1,800 1,500 - 4,000
Japan 4.5 - 8 7-9 8 - 12 12 - 20 N/A
Malaysia 40 - 70 70 - 90 130 - 200 300 - 360 N/A
QUALITY Engineer Supervisor Manager Director

China 100 - 150 150 - 250 300 - 700 550 - 1200
Japan 5.5 - 7.5 7-9 8 - 12 14 - 18
Malaysia 40 - 70 70 - 90 130 - 200 300 - 360
SALES & MARKETING Engineer Supervisor Manager Director Vice President

China 90 - 150 150 - 300 300 - 700 600 - 1,600 1,000 - 2,000
Japan 6-9 9 - 12 8 - 15 14 - 18 N/A
MANAGEMENT ROLES GM CTO COO CEO

China 1,000 - 3,000 1,500 - 4,000 1,000 - 3,000 2,000 - 3,000
Japan 15 - 30 N/A N/A N/A
PROJECT MANAGEMENT Engineer Manager Director

China 80 - 180 200 - 600 600 - 2,000
The following supply chain management trends are expected to change manufacturing forever:
1. The visibility of supply chain

2. The rise of distributed manufacturing
3. The internet of things will greatly impact supply chain
Source: Jonathan Ong, Morgan McKinley, Singapore
NOTES

AVIATION
PRODUCTION Engineer Supervisor Manager Director
China 120 - 180 150 - 300 250 - 600 600 - 1,200
Malaysia 40 - 70 60 - 80 180 - 300 360 - 600
ENGINEERING Engineer Manager Director

China 150 - 300 400 - 600 600 - 1,200
Malaysia 90 - 120 180 - 300 400 - 600
R&D Engineer Manager Director

China 200 - 300 300 - 800 700 - 1,500
Malaysia 90 - 120 180 - 300 400 - 600

China 120 - 250 250 - 350 500 - 700 700 - 900
Malaysia 60 - 90 90 - 120 180 - 240 N/A

China 180 - 250 250 - 350 350 - 800 700 - 1,500 1,500 - 3,000

China 1,200 - 2,500 1,500 - 2,000 2,400 - 4,000 3,000 - 5,000
MEDICAL DEVICES/PHARMACEUTICAL
China 120 - 200 200 - 400 400 - 800 700 - 1,500
Malaysia 40 - 80 60 - 80 180 - 300 400 - 600

China 150 - 400 250 - 500 500 - 1,500 800 - 2,000 1,500 - 3,000

China 140 - 220 240 - 400 400 - 600 600 - 1,500
Malaysia 40 - 80 60 - 80 180 - 300 350 - 600

China 120 - 200 200 - 350 450 - 650 600 - 1,400
Malaysia 40 - 80 60 - 80 200 - 350 400 - 600
NOTES

CHEMICALS & MATERIALS
China 120 - 200 150 - 400 300 - 800 500 - 1,200
Japan 4.5 - 6 7-9 8 - 12 12 - 20
Malaysia 60 - 90 90 - 120 120 - 180 240 - 360

China 120 - 180 150 - 300 300 - 500 500 - 1,000
Japan 4.5 - 6 7-9 8 - 12 12 - 20
Malaysia 60 - 90 90 - 120 120 - 180 240 - 360
R&D Engineer Supervisor Manager Director

China 150 - 250 250 - 450 400 - 800 500 - 1,500
Malaysia 60 - 90 90 - 120 120 - 180 240 - 360

China 120 - 180 180 - 300 300 - 600 500 - 1,200
Japan 4.5 - 6 7-9 8 - 12 12 - 20
Malaysia 60 - 90 90 - 120 120 - 180 240 - 360
SALES & MARKETING Engineer Supervisor Manager Director

China 150 - 200 200 - 400 350 - 700 600 - 2,000
Japan 4.5 - 6 7-9 8 - 12 12 - 20

China 800 - 2,000 1,500 - 5,000 2,500 - 4,000 4,000 +
Japan 15 - 30 N/A N/A N/A
NOTES

FMCG
China 90 - 140 130 - 250 250 - 600 550 - 1,200
Japan 4.5 - 6 7 - 8.5 8 - 12 12 - 25
Malaysia 40 - 70 70 - 90 130 - 195 300 - 450

China 100 - 140 130 - 250 250 - 600 550 - 1,200
Japan 4.5 - 6 7 - 8.5 8 - 12 10 - 15
Malaysia 40 - 80 80 - 100 120 - 180 240 - 400

China 90 - 150 150 - 300 300 - 600 600 - 1,500
Japan 4.5 - 6 7 - 8.5 8 - 12 10 - 15
Malaysia 40 - 70 70 - 90 120 - 180 180 - 400

China 90 - 150 130 - 250 250 - 600 600 - 1,200
Japan 4.5 - 6 7 - 8.5 8 - 12 10 - 15
Malaysia 40 - 70 70 - 90 120 - 180 180 - 300
MANAGEMENT ROLES GM COO CEO

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

HEAVY INDUSTRY
China 100 - 150 150 - 220 250 - 400 500 - 1,000 1,000 +
Japan 4.5 - 6 7-9 8 - 12 12 - 20 N/A
Malaysia 60 - 90 90 - 120 120 - 180 240 - 360 360 - 500
ENGINEERING Engineer Supervisor Manager Director Vice President

China 100 - 150 150 - 240 300 - 500 500 - 1,000 N/A
Japan 4.5 - 6 7-9 8 - 12 12 - 20 N/A
Malaysia 60 - 90 90 - 120 120 - 180 240 - 360 400 +

China 120 - 180 150 - 250 300 - 500 500 - 1,000 1,000 - 1,500
Japan 4.5 - 6 7-9 8 - 12 12 - 15 N/A

China 100 - 150 150 - 200 300 - 500 500 - 900
Japan 4.5 - 6 7-9 8 - 12 12 - 15
Malaysia 60 - 90 90 - 120 120 - 180 240 - 360

China 120 - 300 200 - 300 400 - 600 600 - 1,000 1,000 - 1,800
Japan 4.5 - 6 7-9 8 - 12 12 - 15 N/A

China 1,500 - 2,000 N/A 1,500 +
Japan 12 - 30 15 - 30 20 - 35
NOTES

ELECTRONICS
China 70 - 150 90 - 280 180 - 600 500 - 1,300 1,000 - 2,000
Japan 4.5 - 6 6 - 8.5 9 - 12 12 - 15 N/A
Malaysia 40 - 70 70 - 120 180 - 240 300 - 450 450 - 700
ENGINEERING Engineer Supervisor Manager Director Vice President

China 100 - 160 150 - 300 250 - 800 700 - 1,500 1,000 - 2,000
Japan 4.5 - 6 6 - 8.5 9 - 12 12 - 15 N/A
Malaysia 40 - 70 70 - 120 180 - 240 300 - 450 450 - 700

China 100 - 200 150 - 450 250 - 900 700 - 1,800 1,800 - 2,600
Japan 4.5 - 6 6 - 8.5 9 - 12 12 - 15 N/A
Malaysia 40 - 70 70 - 120 180 - 240 300 - 450 N/A

China 100 - 150 150 - 250 250 - 750 500 - 1,500
Japan 4.5 - 6 6 - 8.5 9 - 12 12 - 15
Malaysia 40 - 70 70 - 120 180 - 240 300 - 360

China 100 - 160 140 - 250 200 - 850 600 - 1,500 1,200 - 2,500
Japan 4.5 - 6 7-9 9 - 12 12 - 15 N/A

China 800 - 2,000 1,500 - 3,000 2,500 - 3,500 4,000 +
Japan 12 - 30 N/A 20 - 30 20 - 35
PROJECT MANAGEMENT Engineer Supervisor Manager Director

China 80 - 180 150 - 200 200 - 600 500 - 1,200
Japan 6-8 7-9 10 - 12 12 - 15
Malaysia 40 - 70 70 - 100 120 - 180 300 - 420
Six Sigma Six Sigma Master

OPERATIONAL EXCELLENCE Lean Specialist Lean Manager Specialist (Black belt)
China 200 - 300 300 - 700 200 - 400 400 - 1,200
Japan 6 - 8.5 8 - 12 6 - 8.5 10 - 15
Malaysia 80 - 180 180 - 300 180 - 240 300 - 420
NOTES

MACHINERY/MECHANICAL
China 100 - 150 130 - 250 250 - 500 500 - 1,200
Japan 4.5 - 6 7-9 8 - 12 12 - 20
Malaysia 40 - 70 70 - 120 180 - 240 300 - 450

China 100 - 200 200 - 300 300 - 700 600 - 1,200
Japan 4.5 - 6 7-9 8 - 12 12 - 20
Malaysia 40 - 70 70 - 120 180 - 240 300 - 450

China 140 - 350 200 - 300 300 - 700 700 - 1,500
Japan 4.5 - 6 7-9 8 - 12 12 - 20
Malaysia 40 - 70 70 - 120 180 - 240 300 - 450

China 100 - 150 150 - 250 250 - 700 600 - 1,200
Japan 4.5 - 6 7-9 8 - 12 12 - 20
Malaysia 40 - 70 70 - 120 180 - 240 300 - 450
Supervisor Manager
SALES Engineer (Area Manager) (Regional Manager) Director Vice President
China 100 - 200 200 - 300 300 - 700 500 - 1,500 1,000 - 2,500
Japan 5-9 N/A 8 - 12 12 - 20 N/A
MARKETING Specialist Supervisor Manager Director Vice President

China 100 - 200 150 - 300 300 - 700 500 - 1,500 1,000 - 2,500
Japan 5-9 N/A 8 - 12 10 - 15 N/A

China 1,500 - 2,500 2,000 - 3,500 4,000 +
Japan 12 - 30 20 - 30 20 - 40
NOTES

MARKETING & DIGITAL
CHINA technology to better engage with their e-commerce sector and the new direction
customers. As more retail and financial for employers is to grow their digital and
HIRING TRENDS FROM LAST TWO YEARS market trends move from offline to online, e-commerce headcounts by investing in
EXPECTED TO CONTINUE IN 2020 many companies have significantly building their own in-house digital team.
Marketing & digital remains one of the increased their digital marketing budgets
Apart from this, demand for talent with
most key commercial functions for as compared to traditional marketing
knowledge of the Chinese e-commerce
businesses in China, who are likely to spend. This means that companies
market will continue. Considering the
maintain the same generous level of increasingly believe that digital marketing
explosive growth of the e-commerce
investment and talent budgeting for this is the way forward for better ROI. As
sector in China, companies can therefore
department as previous years. technology continues to develop
leverage on this advantage and make use
innovative ways to engage with audiences
Much like the last two years, 2020 is likely of the cross-border e-commerce platforms
in Hong Kong, the drive towards digital
to see companies invest more in digital to expand their businesses.
marketing will continue to rise in 2020.
and online marketing communications job HIRING ACTIVITY EXPECTED IN FINANCE,
functions like e-commerce and digital From a retail perspective, big data is key to
VIRTUAL BANKING
transformation as compared to offline the future of brand marketing as the
marketing roles like events and corporate amount of information gathered online on a In the highly competitive financial sector,
communications. Companies are daily basis can provide keen insights on marketing activities are expected to
increasingly choosing more digitalised how effective a campaign is. One of the remain active. Data driven marketing
methods that can replace older forms of major digital marketing trends in Hong strategies will be key to engaging
communication, particularly for internal Kong will continue to be the use of Key customers and enhancing their user
communication within big MNC’s. Opinion Leaders with analytics to support. experience. Both banks and insurance
The growing demand for analytics skills will companies are expected to increasingly
CANDIDATES WITH DATA MANAGEMENT also play a crucial role in identifying the welcome marketing professionals with
EXPERIENCE HIGHLY SOUGHT AFTER best fit for a brand. This is especially the different industry experience.
There is also more focus on speeding up case when considering social monitoring With the advent of virtual banks
SALARY INFORMATION: MARKETING & DIGITAL

conversion processes and making tracking and analysis as each social platform has its continuing to rise, aggressive and
systems more transparent and data own dedicated marketing tools. comprehensive marketing campaigns will
oriented. Digital media/marketing be needed to differentiate competitive
candidates with strong data or leads brands. Marketing professionals from a
generation experience, as well as content Did you know that only 24.5% of total start-up, mobile payment or payment
management candidates with strong data ad spend is on digital in Hong Kong? gateway background will be in high
knowledge are exceedingly rare in the This is ranked relatively lower than
other major markets in the world. demand. Such innovative candidates will
market and can draw up to 20-30 per cent impact businesses not only by developing
increases in their salary. go-to-market campaigns, but by
EXPANSION OF LOCAL COMPANIES WILL promoting these new digital products to
RESULT IN NEW HEADCOUNT CREATION drive usage.
Local Chinese companies are gradually
increasing their market share across both JAPAN
B2C and B2B manufacturing. This has ROBUST HIRING MARKET CONTINUES;
resulted in a renewed importance on BENEFITS COULD MAKE OR BREAK
branding and digitalising business results CANDIDATE DECISIONS
for these companies, necessitating the
creation of new headcount to drive The job market for marketing & digital
initiatives. In MNCs however, headcounts Source: Leonie Valentine, Google via Marketing- professionals continues to be buoyant in
have been more stable and more interactive.com japan, with bilingual, qualified and
replacement hiring has been observed experienced candidates frequently
instead of new roles being created. receiving attractive offers.
E-COMMERCE CANDIDATES IN HIGH As one of the most candidate short
HONG KONG SAR DEMAND markets in Japan, digital marketing
In 2020, highly qualified digital marketers candidates can expect higher salary
DIGITAL MARKETING, BIG DATA WILL increases of even over 17 per cent. Sign-on
DRAW HIGHER BUDGETS IN 2020 will remain in demand on employers
priority list such as content managers, bonuses are also becoming increasingly
The digital marketing sector in Hong Kong social media managers, e-commerce common. Larger companies may require
enjoyed strong growth in 2019 as managers and SEO experts. There is still
businesses continued to invest in much room for growth in the Hong Kong

up to six months to find qualified and DIGITAL MARKETING CANDIDATES Singapore along with
bilingual candidates for these roles. COMMAND THE HIGHEST SALARIES Australia are considered to be two
When deciding between multiple offers, The positive growth in marketing hires countries in APAC whose organisations
are most ‘data ready’.
candidates are increasingly looking at within retail, FMCG, telecommunication
benefits apart from high remuneration, and manufacturing act as an underlying
such as flexible working style, statement that the valuation of marketing
opportunities to work from home, and professionals is on the rise, giving job
over 20 days of leave, that can strongly seekers more confidence in their salary
impact their final decision. expectations. However, the demand for
tech-savvy marketing professionals seems
DIGITAL AND PRODUCT MARKETING
to outweigh the supply of those equipped
CANDIDATES MOST IN DEMAND
with skills of the future. As a result,
There is a strong demand for a range of candidates working in the areas of CRM,
digital marketing professionals including campaign analysis and marketing
experts in search engine optimisation (SEO), operations will see demand for their skills
customer relationship management (CRM), rising, leading to broader salary ranges.
evaluative conditioning (EC) and digital Source: Campaignasia.com
On the other hand, the sector is seeing an
advertising. This demand is apparent in
intensified demand for candidates with
organisations of all sizes and across
knowledge in content strategising, creative CANDIDATES WITH DIGITAL KNOWLEDGE
industries, including consumer, retail,
campaigns and search engine optimisation. WILL HAVE A SIGNIFICANT MARKET
technology, manufacturing, financial
These skills will allow marketing ADVANTAGE
services, and other service sectors. Hands-
professionals to leverage on digital
on experience in digital strategy and E-commerce businesses like Lazada,
channels and improve traffic, alongside a
implementation is highly desired, as well as Shopee and Grab have moved from the
host of data related activities that are
knowledge of analytical or automation tools start-up category to mid-market,
gaining mounting importance. The amount
like google analytics and Eloqua. Product considering the huge demand for their
of investment poured into the online and
marketing candidates are also rare in the services in Singapore and the region.
digital segment has skyrocketed and is
market. Experience in Plan-Do-Check-Act Continuing forward from 2017 and 2019,
unlikely to slow down in 2020. This will
(PDCA) modelling, as well as research & e-commerce related roles are still in huge
likely lead to inflated salaries for digital
development is highly sought-after. demand and particularly for candidates
professionals in the year to come.
LARGER AND SMALLER COMPANIES who understand content and how to
PAYING ABOVE MARKET AVERAGE connect with a customer throughout their
SINGAPORE journey. Targeted advertisements are
Other fields like EC, online platforms, IT, increasingly common, alongside a
SINGAPORE STILL A GO-TO ASIA HUB
robotic process automation (RPA) and AI constant influx of marketing promotions
FOR EXPANDING BUSINESSES
are also hiring aggressively, and are now and collateral powered by tools like
open to hiring qualified candidates with as As more businesses relocate their Salesforce. Candidates with knowledge of
little as twelve months experience in either headquarters to Singapore, 2020 will likely such software will carry a significant
advertising or digital agencies. While larger see an influx of specialist roles across sales advance when applying for roles in tech
companies tend to offer packages that are and business development, stemming and ecommerce, as well as increasingly
significantly above market average, smaller primarily from the tech sector. This will digital traditional B2B companies.
online platforms are now also trying to result in a strong need for digital and
compete with more attractive salaries. social marketers who can help drive sales
through brand enrichment. In 2019, there
SPONSORSHIP MARKETING ON THE RISE
was a special focus on sourcing on-ground
Sports sponsorship and sales promotions communications professionals in such
jobs will also be abundant in 2020. A organisations, but with additional skillset
number of companies are starting to hire requirements of running digital marketing
event professional, sponsorship experts and
SALARY INFORMATION: MARKETING & DIGITAL
campaigns - which is unusual amongst

branding professionals, both for permanent traditional public relations professionals.
and contractor roles. Bilingual skills will be
DIGITAL, PR AND INTEGRATED
mandatory for such roles due to their close
MARKETING AGENCIES STILL NEEDED IN
relation with inbound tourism.
THE MARKET
Marketing and PR agencies continue to be
MALAYSIA widespread in Singapore, with a number
DEMAND FOR CREATIVE of new boutique agencies specialising in
PROFESSIONALS AND TRADITIONAL video, UI/UX and social now coming up all
MARKETERS EXPECTED TO GROW over the country. Such agencies offer a
STRATEGICALLY consultative service alongside technical
As marketing in Malaysia continues to aspects that organisations of all sizes,
progress, business leaders are expected to from SMEs to MNCs, still require as
significantly grow their teams and strategic digital insight.
strategically position their hiring to remain Conversely, these agencies are operating
ahead of the competition from other amidst a severe talent shortage while also
regions. The top skills in demand fall within struggling with retention as they often
the areas of content creation, branding lose employees to in-house roles
strategies and consumer data marketing. elsewhere. Considering the tight margins
However, more companies are realising the and long working hours that have become
importance of collecting data, and that the norm, there is often little incentive for
their ability to drive market growth hinges young employees to stay in companies
on the depth of their ability to translate that offer lower bonuses and weak pay
consumer insights and branding initiatives structures. The need for agencies will likely
into effective action. These insights will be a long-term one, prompting employers
impact budgets allocated for a variety of to examine their pay structures and
marketing roles, increasing the overall working hours to keep up standards of
range on salaries based on how they now delivery and maintain industry growth.
value these professionals as compared to
previous years.

MARKETING & DIGITAL
Assistant Senior
MARKETING Marketing Marketing Marketing Marketing Marketing
- TRADITIONAL Director Manager Manager Executive Executive
China 900 - 1,800 500 - 900 N/A N/A 100 - 250
Hong Kong SAR 1,000 - 1,600 450 - 900 360 - 500 260 - 360 150 - 260
Japan 12 - 20 8 - 12 7.5 - 12 4 - 7.5 5-9
Malaysia 300 - 540 96 - 180 N/A N/A 36 - 50
Singapore 140 - 250 78 - 120 60 - 84 48 - 60 39 - 65
MARKETING Direct Marketing Channel Global Brand Product/Brand

- BRANDING Manager Manager Manager Manager
China 450 - 850 400 - 800 800 - 1,200 350 - 600
Hong Kong SAR 480 - 780 550 - 700 900 - 1,500 480 - 870
Japan 8 - 12 6 - 11 10 - 15 6 - 12
Malaysia 96 - 180 120 - 160 150 - 220 84 - 150
Singapore 70 - 150 70 - 150 80 - 150 70 - 120
MARKETING Group Account Account Account Account

- ADVERTISING Director Director Manager Executive Media Planner
China 500 - 800 350 - 500 280 - 500 130 - 250 350 - 650
Hong Kong SAR 700 - 1,000 560 - 700 300 - 550 180 - 300 210 - 360
Japan 12 - 18 10 - 15 8 - 11 4-7 4-7
Malaysia 190 - 300 120 - 150 72 - 120 36 - 72 42 - 72
Singapore 120 - 220 100 - 160 60 - 100 40 - 60 60 - 90
Executive
MARKETING Creative Creative
- CREATIVE Director Director Art Director Copywriter
China 1,000 - 2,200 700 - 1,200 400 - 800 150 - 350
Hong Kong SAR 1,000 - 1,500 600 - 800 480 - 600 240 - 420
Japan 10 - 20 7 - 12 5-9 5-8
Malaysia 230 - 300 170 - 230 170 - 230 48 - 72
Singapore 150 - 180 100 - 150 100 - 130 40 - 80
NOTES

MARKETING & DIGITAL
Marketing Public Relations/ Internal Corporate
MARKETING Communications Communications Communications Communications
- COMMUNICATIONS Manager Manager Manager Manager
China 300 - 700 300 - 700 300 - 500 400 - 700
Hong Kong SAR 400 - 600 300 - 650 360 - 540 540 - 720
Japan 9 - 15 8 - 12 6-8 7 - 12
Malaysia 84 - 144 84 - 144 72 - 144 86 - 160
Singapore 70 - 130 80 - 130 80 - 120 80 - 120
Market Research/ Market Research/ Market Research/

MARKETING Consumer Consumer Consumer
- MARKET RESEARCH Insights Director Insights Manager Insights Analyst
China 300 - 700 300 - 700 150 - 250
Hong Kong SAR 500 - 1,200 400 - 800 300 - 600
Japan 8 - 12 6 - 10 4-7
Malaysia N/A 96 - 160 42 - 72
Singapore 120 - 180 80 - 120 60 - 90
Digital/Online Digital Digital

DIGITAL Marketing Head of Communication/ Acquisition/
- MARKETING Manager eCommerce Content Manager Head of Digital Performance
China 300 - 600 800 - 1,600 300 - 600 N/A N/A
Hong Kong SAR 480 - 840 600 - 1,100 480 - 780 N/A N/A
Japan 8 - 15 8 - 15 6 - 10 10 - 18 6 - 10
Malaysia 84 - 150 120 - 170 72 - 120 216 - 300 96 - 180
Singapore 80 - 120 100 - 150 78 - 110 120 - 180 105 - 130
DIGITAL Department
- CUSTOMER EXPERIENCE Head Director Senior Manager Manager CRM Manager
China 900 - 1,800 900 - 1,600 500 - 900 400 - 700 400 - 700
Hong Kong SAR 1,000 - 1,500 960 - 1200 720 - 900 480 - 600 480 - 600
Japan 10 - 20 8 - 15 8 - 10 5-8 6-8
Malaysia 240 - 360 180 - 240 120 - 180 96 - 120 70 - 140
Singapore 200 - 250 150 - 180 120 - 150 80 - 120 60 - 100
DIGITAL Head of Digital Web Analytics

- TRANSFORMATION & ANALYTICS Transformation Manager
China 1,000 - 1,800 450 - 750
Hong Kong SAR 800 - 1,600 500 - 800
Japan 12 - 20 6-9
Malaysia 96 - 144 48 - 96
Singapore 150 - 220 90 - 150
NOTES

OFFICE PROFESSIONALS
CHINA EMPLOYERS INCREASINGLY PREFER as be more equipped with knowledge in

JUNIOR CANDIDATES administration policies and procedures.
DIGITAL TRANSFORMATION DRIVES
BUSINESS SUPPORT FUNCTIONS An interesting trend being observed is the COMMERCIAL ACUMEN WILL GIVE
preference for hiring entry-level candidates CANDIDATES A SIGNIFICANT ADVANTAGE
The ongoing digital transformation of both with good educational backgrounds into
domestic and foreign enterprises has As more Chinese corporates expand into
office professional roles in China. This is
resulted in an increased demand for the Hong Kong market, hiring trends and
primarily because employers increasingly
business support roles, a trend that is the skills required from executive
want candidates who are good at English,
likely to continue into 2020. As there are assistants are likely to be impacted. While
with overseas experience, and who are fast-
more domestic executives not only in local secretarial support and skills are still much
learning and ambitious. Another reason is
companies but also in MNCs, business needed, the ability to support the business
costs, as potential candidates require
acumen has become a more important as well as commercial understanding has
relatively low salaries when compared to
skillset than administrative support – also become crucial. Skills or a
those with more experience.
particularly in start-up environments. The background in finance, business
ability to influence key stakeholders will be BETTER ROLES AND EMPLOYER development and project management
an added advantage for potential BRANDING COULD HELP ATTRACT THE would give candidates a significant
candidates, alongside strategic thinking RIGHT TALENT advantage and make them more likely to
and analytical skills. be selected for “right-hand man” executive
Junior candidates have been long
assistant positions. Such roles are typically
EMPLOYERS PLACE MORE EMPHASIS ON considered to focusing on their long-term
better compensated as well.
SOFT SKILLS career development which ultimately,
impacts their outlook when accepting an
Beyond fundamental technical skills, soft offer. They are also more competitive and JAPAN
skills are playing a more crucial role in pay more attention to the content of the
selecting office professionals, particularly HYBRID ROLES ON THE RISE; BUDGETS
SALARY INFORMATION: OFFICE PROFESSIONALS

role, including going beyond traditional
for executive assistant roles. The ability to RISE TO MATCH EXPECTATIONS
office professional duties. Better employer
listen and resolve conflict in an branding and creative role profiles could There has been a continuous increase in
interpersonal and dynamic working thus help attract more junior professionals. demand for hybrid roles such as executive
environment can strongly contribute to an assistants who handle both secretarial and
executive’s vision and strategy, alongside office management duties, and who
positively impacting every aspect of HONG KONG SAR require both flexibility and strong
career development. MORE BILINGUAL AND TRILINGUAL motivation. As either relevant experience
TALENT NEEDED or transferrable skills are desired,
companies tend to have flexible budgets
While the need for English, Cantonese and
that can accommodate the expectations of
Mandarin language skills in Hong Kong is
qualified candidates. The strong demand
far from a new trend, the demand for
A recent IBM survey reported that close for bilingual candidates is expected to
to 120 million workers will need to be professionals with strong language and
continue into 2020, especially within
reskilled in the next three years due to communication skills is expected to rise in
global companies who face Japanese
the impact of AI in the workplace. As a 2020. This is due to an increasing need for
clients, as they require their executive
consequence, there is a pressing need coordination work across the region and
for the development of soft skills assistants to have proficient business
the threat of basic clerical work being
related to emotional intelligence. manner in Japanese.
replaced by technology.
BILINGUAL CUSTOMER SERVICE ROLES
EMPLOYERS SEEK TECHNICAL SKILLS
EXPECTED TO DOUBLE OVER THE NEXT
AND AGILITY TO ADAPT
YEAR
As the proliferation of technological
With the ongoing digitalisation trend and
advancement continues, more companies
the upcoming Tokyo Olympics 2020, an
are gradually lowering their demand for
increased demand for bilingual customer
clerical support in the long run. Office
service professions is expected to
professionals are now expected to be
accommodate both traditional Japanese
more proficient in the use of various IT
consumers and the foreign market. We
systems when supporting the respective
predict that staff and managerial positions
business units such as procurement,
for call centers and customer service
human resources, finance etc.
teams will double over the next year.
They are also expected to be agile and open Considering the ongoing shortage of
Source: TrainingJournal.com
to system upgrades and automation, as well bilingual call center managers and

customer service managers who are also
experienced in business improvement and
SINGAPORE ‘Salaries in Japan will
HYBRID ROLES COME TO THE
people management skills, salaries are
expected to continually increase FOREFRONT IN 2020 continue to increase
depending on the years of experience. A significant trend that became more
apparent towards the end of 2019 is the
for non-permanent
MORE OPPORTUNITIES FOR BILINGUAL
OFFICE MANAGERS AND EXECUTIVE demand for hybrid administrative support
professionals. This trend is expected to
professionals
ASSISTANTS EXPECTED
There is an increase in demand for bilingual
continue across 2020 as more companies
are now focusing their hiring on executive
across most office
office managers, both as replacement and
new hires at growing companies looking to
assistants (EAs) who can also perform
office administration duties.
professional
centralise or control their administrative
department better. Traditionally, a senior EA who supports functions in 2020.’
C-level and upper management would
There is also an increase in demand for only provide support to their executive.
senior executive assistants at various However, there is an increasing demand
organisations such as Integrated Resorts for EAs to be capable and willing to take
companies, sports marketing firms and on more than this remit. This can also be
hospitality providers. With companies who seen in administrative support roles that
are now fully licensed to operate in Japan, are increasingly including duties related to
significant increases in company size are accounting, marketing, HR, client services,
expected and in due course, higher operations or even a combination of these.
demands for bilingual profiles as well as
higher salaries. Overall, the hybrid trend has alleviated
pressures on having multiple headcount for
CONTRACT HIRING ON THE RISE; SALARY support candidates in each team or
RISES EXPECTED department. On the other hand, it has
Salaries for non-permanent professionals created a need for higher calibre candidates
in most office professional functions are who have higher salary expectations –
steadily increasing, especially bilingual which clients are happy to match.
contractors/temporary workers who are a HIRING REMAINS STEADY ACROSS
valuable workforce for foreign companies CORPORATE INDUSTRIES
in Tokyo. This trend is likely to continue as
overseas companies continue to merge On the whole, demand for all levels of
with or acquire local companies. The support staff will remain steady in 2020
upcoming 2020 Olympics will also see a across more corporate industries such as
rise in demand for temporary interpreters banking and financial services, pharma
and translators, whose flexibility will serve and FMCG. The first quarter of 2020 will
as ideal to weather the sudden demand. be busy following bonus payouts, which is
always a time of movement in the market.
Administration Administration Project Admin

Assistant Assistant Assistant
SALARY INFORMATION: OFFICE PROFESSIONALS
ADMINISTRATION (6-12 mths) (12+ mths) (3+ yrs) Office Manager

China 60 - 85 70 - 150 120 - 200 250 - 600
Hong Kong SAR 156 - 192 180 - 300 210 - 320 200 - 300
Japan 3.5 - 4.5 4-6 N/A 8 - 15
Singapore 25 - 40 40 - 50 50 - 65 65 - 100
Project Head of
Coordinator Administration
China 70 - 140 500 - 1,000
Hong Kong SAR 360 - 720 600 - 1,200
Japan 4-7 12 - 20
Singapore 40 - 50 N/A
Data Entry Sales Medical

ADMIN/SPECIALISTS Operator Coordinator Records Officer Secretary Translator
China N/A 75 - 180 N/A N/A N/A
Hong Kong SAR 144 - 168 216 - 288 N/A N/A N/A
Japan 3.5 - 5 4.5 - 7 N/A N/A 6-9
Singapore 20 - 30 30 - 45 35 - 45 40 - 50 50 - 60
NOTES

OFFICE PROFESSIONALS
Receptionist/
Receptionist Receptionist Admin Assistant
RECEPTION (up to 12 mths) (12+ mths) (12+ mths)
China 60 - 150 70 - 150 80 - 150
Hong Kong SAR 156 - 180 192 - 300 192 - 350
Japan 4-5 4.5 - 6.5 5 - 6.5
Singapore 25 - 35 30 - 40 30 - 40
Personal Executive
Secretary Secretary Team Secretary Assistant/ Assistant
SECRETARIAL (up to 12 mths) (12+ mths) (3+ yrs) Team Assistant (for 1 person)
China 80 - 150 90 - 250 100 - 200 150 - 550 150 - 550
Hong Kong SAR 192 - 264 200 - 300 240 - 420 360 - 600 400 - 660
Japan 3-5 5-7 5-8 5-8 8 - 14
Singapore 28 - 32 30 - 45 42 - 65 45 - 75 60 - 100
Legal Secretary Legal Secretary Legal Secretary Legal Personal

LEGAL SUPPORT (up to 2 yrs) (2-4 yrs) (4+ yrs) Assistant
China 90 - 140 120 - 180 140 - 300 200 - 350
Hong Kong SAR 190 - 300 300 - 420 420 - 500 400 - 720
Japan 4-6 5-7 5.5 - 8 5 - 8.5
Singapore 25 - 40 40 - 50 50 - 65 50 - 72
BANKING & FINANCE SUPPORT Secretary Senior Secretary Personal Assistant Executive Assistant
China 130 - 240 240 - 360 180 - 350 300 - 650
Hong Kong SAR 192 - 264 360 - 480 360 - 660 360 - 660
Japan 6-8 7 - 11 8 - 12 8 - 14
Singapore 30 - 40 40 - 70 45 - 60 60 - 96
Project Contracts
PROPERTY & CONSTRUCTION Secretary/ Site Secretary/ Facilities Administrator Client Liaison
SUPPORT Administrator Administrator Administrator (Residential) (Residential)
Japan 4-6 4-6 4-6 N/A N/A
Singapore 35 - 50 40 - 50 30 - 40 40 - 55 40 - 45
Call Centre Call Centre

Operator Call Centre Manager Director
CUSTOMER SERVICE/CALL CENTRE Operator (2+ yrs) Manager (5+ yrs) (Nationwide)
Hong Kong SAR 192 - 216 228 - 300 324 - 400 420 - 580 720 - 840
Japan 3.5 - 5 4 - 6.5 6 - 8.5 7 - 12 10 - 15
Customer Customer Customer

Service Service Service
Specialist Team Leader Manager
Hong Kong SAR 192 - 252 N/A 420 - 580
Japan 4-6 6 - 8.5 10 - 15
NOTES

PROCUREMENT & SUPPLY CHAIN
CHINA supply chain job market impacted in terms in written and spoken Japanese is still a
of salary, job flows and turnover rate. minimum requirement which has limited the
US-CHINA TRADE WAR ACCELERATES number of eligible international candidates.
MAJOR DECLINE IN TRADITIONAL PROCUREMENT PROFESSIONALS IN
We expect this competition for talent to
SUPPLY CHAIN ROLES DEMAND TO SUPPORT COST CONTROL
continue well into 2020.
For supply chain businesses, the ambitious Due to the growing pressure and need for
The rise of AI, robotics and automation
‘Made in China 2025’ scheme launched by cost control, the demand for highly skilled
technologies has also made it increasingly
the Chinese government in 2015 has procurement and purchasing professionals
mandatory for supply chain candidates to
continued to open up requirements for a has increased, consequently driving up
be well versed in software like SAP.
new range of professionals. The initiative salaries to higher than years past,
Candidates with SAP knowledge as well as
aims to move production in the country particularly for procurement managers.
project management experience in supply
away from traditional outputs such as Ideal candidates for such roles are
chain transformation are among the most
fashion items and phones, and towards expected to have experience in third party
highly sought-after in the market.
new high-tech industries such as quantum risk management, global supplier
computing and self-driving cars. management and the ability to identify PROCUREMENT, PLANNING AND
costs down to BOM (bill of materials) level. WAREHOUSE AUTOMATION TO REMAIN
The ongoing US-China trade war has KEY AREAS FOR HIRING
only accelerated these efforts, resulting in JUNIOR CANDIDATES WANTED BUT IN
the massive decline of traditional supply SHORT SUPPLY Japan’s shrinking population and market
SALARY INFORMATION: PROCUREMENT & SUPPLY CHAIN
chain and procurement roles in the has resulted in companies struggling to

For junior supply chain professionals, hiring
market. Instead, there has been a rise in increase their pure sales revenues. To
demand has remained stable although the
preference for candidates with sourcing counter this, more companies are focusing
supply of junior candidates has been
experience in Southeast Asian countries. on cutting costs and increasing revenue
dropping on a yearly basis. This has pushed
Government subsidies have also allowed margins. This has brought the
up salaries for these roles, particularly for
organisations to make heavy investment in procurement function into focus and
order fulfilment specialists and logistics
research and development. These changes consequently, higher demand and salaries
specialists who are in high demand.
have created a new demand for for procurement professionals. This
professionals in these functions and who CAUTIOUS HIRING RESULTS IN emphasis on cost reduction will likely
can also guide the industry through this PROLONGED RECRUITMENT PROCESS continue into 2020.
period of transformation. From an employer point of view, hiring Other key areas of demand include
Roles like demand planners, supply chain demands remains strong but recruitment planning (including demand, supply,
analysts and logistics analysts are highly processes are being prolonged due to the material, and production), and warehouse
sought after as they can assist companies cost pressure associated with additional automation. Both areas are seeing a
in moving away from manual processes headcount. This means ensuring that each strong shortage of candidates which, apart
and towards automation that can serve candidate is a near-perfect fit before from driving up salaries, has also led to
larger scales and lower production costs. making an offer. On the candidate side, employers hiring junior candidates and
motivations for switching jobs have training them internally.
CANDIDATES VALUE STABILITY OVER PAY evolved. Previously, candidates had a
While the changes within the industry are strong desire for new challenges, but
rapid, pay packages are failing to keep given the current political climate,
The world of procurement is at the
pace with those of IT and e-commerce candidates now prize stability and long- brink of disruption with technology
businesses that are also looking for similar term career growth. paving the way for a better, more
talent. The turbulent climate has also intelligent future.
caused candidates to become more JAPAN
cautious when considering a job change.
Instead of looking for an immediate big ROBUST JOB MARKET LEADS TO
jump in salary, candidates now place COMPETITIVE MARKET; SAP &
higher value on job security, stability and TRANSFORMATION IN DEMAND
long-term career development. 2019 saw a rich influx of new companies
and jobs within the supply chain field,
HONG KONG SAR leading companies to raise salaries, offer
more employee benefits and map out
IMPACT OF TRADE WAR FELT IN ALL career progression plans in an effort to
ASPECTS attract the right talent. The ongoing talent
The impact of the US-China trade war and shortage has also led companies to be more
the resulting uncertainty was actualised in open to non-Japanese native candidates Source: Cipto Herlianto, Roland Berger, via
2019, with Hong Kong’s procurement & from diverse backgrounds. However, fluency Techwire Asia

TAKING LOCAL PROCUREMENT TO high-calibre professionals with a proven existing companies has given Singapore
GLOBAL STANDARDS: INDIRECT track record that demonstrates their ability not only an economic edge, but has also
PROCUREMENT ROLES & CANDIDATES to add long-term value to a business. generated a multitude of logistics jobs.
HIGHLY SOUGHT-AFTER
STAKEHOLDER AND CHANGE But despite this, there have been signs that
Upgrading local procurement capabilities MANAGEMENT IN FOCUS FOR SENIOR the supply chain market is slowing down
to global standards emerged as a major ROLES such as companies moving their supply
industry trend in 2019. Previously, chain and procurement teams out of
Leaders in the end-to-end supply chain
procurement activities were managed by a Singapore. Companies are now either
function will be expected to be well-
company’s global or regional team but moving towards a centralised team in their
equipped with strong hands-on
there has been a recent move to localise headquarters or stationing them in countries
management as well as international
this function and make it more with lower operating costs. Considering this,
stakeholder management capabilities.
competitive. This had a very positive employers are unlikely to have big salaries
These are increasingly needed to keep pace
impact on the market, as procurement on offer for lateral moves, which will require
with global standards and bridge
experts now have access to completely potential candidates to think carefully about
discrepancies within the function. Supply
new job opportunities. An ideal candidate their next move. It has become more
chain leaders in the manufacturing &
for such roles would be an entry-level important now for candidates to focus on
logistics sector will also need to
Japanese native with high fluency in gaining cross functional or cross category
demonstrate their readiness for change and
English and with experience in experience and ensuring they find the right
agility, presenting themselves as an integral
procurement. culture fit, rather than only expecting a
function of an organisation that will drive
significant salary increment.
Indirect procurement candidates with P&L, business transformation, cost-savings
strong experience in multiple categories and high-level decision making beyond GROWTH OF E-COMMERCE WILL
are also in high demand. This area is managing day-to-day operations. CONTINUE POSITIVE IMPACT ON
relatively new in Japan and has seen a DISTRIBUTION & LOGISTICS
DEMAND PLANNING, CATEGORY
recent surge in jobs on the market.
MANAGEMENT IN HIGH DEMAND Singapore has become increasingly
However, it remains a significant challenge
popular with e-commerce players looking
to find candidates that fit the requirements Many key players in the market are now
to establish their footprint when entering
of such roles, which will continue to drive seeking candidates within the demand
the Asia Pacific region. The resulting
up salaries. Direct procurement candidates planning function, in which knowledge and
growth of e-commerce has had an accrual
are also increasingly keen to move to skills in forecasting, analysis, modelling and
spill over to the distribution and logistics
indirect procurement roles. stakeholder’s management are emphasised.
sector in Singapore. One directly impacted
Demand planners will be expected to work
area that has enjoyed continued growth is
closely with the commercial teams and be
MALAYSIA involved in customer management to drive
that of online delivery. Therefore,
candidates who are proficient in smart and
DIGITAL TRANSFORMATION & greater accuracy and service delivery. There
automated warehouses, as well as modern
AUTOMATION TO DRIVE INDUSTRY is also an increasing need for logistics
logistics, have found themselves to be in
CHANGE professionals with control tower experience
high demand.
who can facilitate real-time delivery
2019 saw consistent demand and growth
tracking and enable greater efficiency and PROCUREMENT MOVES TOWARDS BEING
for supply chain professionals as more
visibility. For procurement functions, A STRATEGIC AND DIGITAL FUNCTION
centralised manufacturing & supply chain
specialists in category management are
hubs, as well as shared service centres, The world of procurement has undergone
highly sought after in most international
SALARY INFORMATION: PROCUREMENT & SUPPLY CHAIN

were set up in the region. Many tremendous change in the last few years,
companies for their ability to optimise
organisations have also been working on owing largely to the rise of digital
spend. Exposure beyond Asia Pacific, such
restructuring and digital transformation to technologies. Most companies are now
as in the Middle East or Africa, are
further improve and optimise their moving towards building a talent pool that
increasing in demand as well.
resources and processes. Emerging can embrace digital technology and use it
technology and automation have been to achieve greater cost savings and develop
driving more integrated planning and SINGAPORE a strategic edge. Thus, for procurement
business intelligence capabilities, enabling professionals, it has become vital to acquire
SINGAPORE REMAINS ASIA HUB AMIDST
organisations to better streamline their critical digital skills if they are to succeed
SIGNS OF INDUSTRY SLOWDOWN
procurement, planning, logistics and and stay relevant in the market.
warehouse functions. Recognised as one of the world’s key hubs
Other recent trends observed include the
for logistics, Singapore has gained
In terms of remuneration, organisations movement of indirect spending into a
worldwide acclaim for its port
are expected to be more open and ready higher priority, as well as procurement
infrastructure, time-efficient customs and
to review their compensation and benefits gaining more strategic importance as
outstanding connectivity. Being the
based on the changing needs of the compared to conventional purchasing.
distribution destination of choice for many
functions. This is especially the case for

PROCUREMENT
Chief
Procurement
Officer/Head Procurement Category
of Procurement Manager Manager Buyer
China 700 - 1,200 300 - 600 250 - 350 120 - 250
Hong Kong SAR 1,020 - 2,000 540 - 840 540 - 840 390 - 500
Japan 20 - 35 8 - 15 8 - 15 5-8
Malaysia 300 - 600 130 - 240 104 - 192 52 - 91
Singapore 180 - 300 80 - 120 70 - 100 39 - 65
Sourcing Sourcing Purchasing Purchasing

Director Manager Director Manager
China 500 - 1,200 300 - 600 500 - 1,200 300 - 600
Hong Kong SAR 840 - 1,200 540 - 660 840 - 1,200 540 - 660
Japan 13 - 15 8 - 13 13 - 15 8 - 13
Malaysia 300 - 600 130 - 260 300 - 600 110 - 170
Singapore 200 - 250 80 - 120 156 - 220 70 - 90
SUPPLY CHAIN
Operations Distribution Transport Warehouse
WAREHOUSING/DISTRIBUTION Manager Manager Manager Supervisor
China 300 - 600 350 - 500 300 - 420 150 - 300
Hong Kong SAR 420 - 600 420 - 600 360 - 520 300 - 420
Japan 8 - 10 7-9 7 - 10 5-7
Malaysia 108 - 300 117 - 264 195 - 200 55 - 96
Singapore 65 - 91 75 - 115 65 - 95 52 - 60
Stock/
Warehouse Inventory
Manager Controller
China 200 - 400 144 - 200
Hong Kong SAR 360 - 560 240 - 300
Japan 8 - 10 5-7
Malaysia 96 - 200 65 - 91
Singapore 70 - 85 24 - 43
Sea/Ocean
Operations Operations Freight Air Freight Key Account
THIRD PARTY LOGISTICS Executive Manager Manager Manager Manager
China 80 - 200 200 - 400 180 - 400 180 - 400 120 - 400
Hong Kong SAR 240 - 420 300 - 480 420 - 600 420 - 600 360 - 480
Japan 3.5 - 5 6.5 - 8 7 - 10 7 - 10 7 - 10
Malaysia 36 - 72 84 - 240 104 - 192 104 - 192 130 - 180
Singapore 33 - 55 65 - 90 60 - 90 60 - 90 65 - 130
NOTES

SUPPLY CHAIN
Transport Transport
TRANSPORT Operations Manager Manager Coordinator
China 250 - 400 200 - 350 80 - 130
Hong Kong SAR 360 - 540 360 - 540 240 - 340
Japan 8 - 10 7 - 10 4.5 - 6
Malaysia 108 - 240 96 - 180 30 - 58
Singapore 65 - 90 65 - 90 40 - 55
Fleet Fleet Import/ Trade

Manager Controller Export Clerk Compliance Manager
China 180 - 300 144 - 216 96 - 144 420 - 600
Hong Kong SAR 360 - 480 420 - 540 240 - 300 480 - 720
Japan 5 - 7.5 4.5 - 6 3.5 - 6 8 - 11
Malaysia 96 - 180 26 - 52 26 - 52 108 - 312
Singapore 52 - 65 52 - 65 33 - 48 78 - 169
Supply Chain Supply Chain Supply Chain

SUPPLY CHAIN Analyst Manager Planner Order Fulfilment
China 130 - 240 240 - 600 100 - 240 100 - 190
Hong Kong SAR 360 - 420 540 - 780 360 - 420 360 - 480
Japan 7-9 8 - 13 7-9 5.5 - 7
Malaysia 42 - 96 117 - 360 50 - 120 52 - 120
Singapore 40 - 60 80 - 130 40 - 60 36 - 50
Supply Chain
Demand Planner Materials Manager Logistics Manager Director
China 100 - 190 250 - 500 200 - 700 600 - 1,200
Hong Kong SAR 390 – 520 325 - 520 480 - 660 780 - 1,400
Japan 7.5 - 9.5 7 - 10 8 - 12 14 - 18
Malaysia 52 - 144 120 - 216 104 - 360 240 - 660
Singapore 48 - 72 72 - 96 70 - 100 150 - 240
NOTES

PROPERTY
CHINA JAPAN
TRADE WAR SLOWS DOWN PROPERTY BILINGUAL CANDIDATES WITH PROJECT
INVESTMENT; ORGANISATIONS AND MANAGEMENT EXPERIENCE IN HIGH
CANDIDATES IMPACTED DEMAND
The continuous escalation of the US-China In the corporate real estate and
trade war contributed to slower overall construction sectors, we have observed a
investment in the Chinese real estate continued interest within companies to
market in 2019. Additionally, real estate hire candidates with construction project
enterprises are also more difficult to management (PM) experience. The
finance due to continuous regulation and majority of these hires are taking place in
government control. The residential market the outsourced/consulting sector, with a
was most impacted by these, with some focus on candidates with PM experience in
small and medium-sized enterprises facing office fit-out work and space planning.
financial difficulties and even bankruptcy. Such candidates also require bilingual
fluency in English and Japanese, as hiring
Candidate expectations of salary are
companies tend to be large, international
expected to become more rational as an
corporations with operations in Japan.
abundance of candidates in the market has
This trend is expected to continue into
discouraged job-hopping. We have also
2020 and salary ranges for candidates
observed candidates willing to take salary
who fit this profile are likely to remain
cuts for exceptional platforms and roles.
competitive due to demand continuing to
MARKET CHANGES BRING ASSET outstrip supply.
OPERATIONS TO THE FOREFRONT
There remains a shortage of bilingual
In the sector, the market has changed construction PMs in Japan who also have
from an incremental market to a stock experience in working with international
market and the ability to operate assets companies and using related software like
has become a new strategic focus for AutoCAD and/or Vectorworks. This lack of
current housing companies. Foreign funds supply will likely result in competitive
also continue to be active and make salary levels in 2020.
frequent acquisitions. Commercial and
MORE OPPORTUNITIES MAY ARISE FOR
retail assets in tier-one cities remain the
FACILITY MANAGERS
most in demand for investors, alongside
alternative asset investments such as While it is currently still early to accurately
SALARY INFORMATION: PROPERTY
logistics and data centres. predict, there may be scope for growth in
the opportunities available to experienced
In 2020, the commercial real estate sector is
facility managers (FM) in the coming year.
expected to continue improving its asset
Traditionally, the property sector has been
operation capabilities. As a result, candidates
slow to recognise the difference between
with excellent operational and asset
the lower technical requirements of office
management capabilities will be sought
management and general affairs positions,
after. Logistics real estate is also expected to
when compared to more strategic, senior
remain in the investment spotlight, bringing
level facility management and corporate
with it a demand for logistics and industrial
real estate roles. But there are signs that
investment candidates.
this perception may be changing in the
market, although such predictions have
been proven false in the past.
It was reported in
October 2019 that China’s
office market saw the
highest vacancy rate in a decade.
Source: The Straits Times

PROPERTY
Manager Manager Senior Head of Property GM Property

(2-5 yrs) (5-10 yrs) Manager Management Management
China 80 - 150 150 - 300 300 - 500 500 - 800 800 +
Centre Manager Centre Manager Facilities Mgr Facilities Mgr Facilities Mgr
- Retail - Retail - Soft Services - Soft Services - Soft Services
(5-10 yrs) (10 + yrs) (2-5 yrs) (5-10 yrs) (10 + yrs)
China 300 - 500 350 - 600 100 - 150 150 - 250 250 - 400
Japan N/A N/A 5-7 7 - 10 10 +
Facilities Director Leasing Manager Leasing Manager Senior Leasing Leasing

(10 + yrs) (2-5 yrs) (5-10 yrs) Manager Director
China 800 + 150 - 260 260 - 450 400 - 600 700 +
Japan 15+ 4-8 8 - 14 14 - 18 18 +
Asset Manager Asset Manager Senior Asset

(2-5 yrs) (5-10 yrs) Manager Asset Director
China 150 - 250 250 - 500 400 - 700 700 +
Japan 6-9 8 - 12 10 - 15 15 +
Property Property Property Property

Investment Investment Investment Investment
Analyst Manager Associate Director
China 150 - 300 300 - 500 500 - 700 700 +
Japan 6 - 10 8 - 13 13 + 18 +
Acquisitions Acquisitions
Surveyor/ Surveyor/ Senior
Manager Manager Acquisitions Acquisitions
(2-5 yrs) (5-10 yrs) Surveyor/Manager Director
China 150 - 250 250 - 500 500 - 800 900 +
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
China 120 - 200 150 - 350 400 - 600 700 +
Japan 4-6 5-8 8 - 10 N/A
Project Assistant Senior Projects

PROPERTY - CLIENT SIDE Coordinator Project Manager Project Manager Project Manager Director
China 180 - 240 180 - 300 325 - 550 600 - 800 780 +
Japan 3-5 5-7 7 - 11 11 - 14 14 +
NOTES

SALES
CHINA using modern technologies, data and talent is expected to be consistent over
customer engagement techniques, such as the next year.
TRADITIONAL SALES, E-COMMERCE automated retail stores and social
SALES ROLES REMAIN STABLE CONSUMER INDUSTRIES SEE
e-commerce on social network platforms.
SLOWDOWN AMIDST COSTCUTTING
Despite the global economic slowdown Budgets in 2020 will likely be geared
and market complexities, the last year saw Companies in the large consumer goods
towards attracting good new retail
no significant changes in the traditional sector have been freezing headcounts at
candidates with experience in the field or
sales job market in China. However, general sales management levels. With
with the relevant technical knowledge
e-commerce has continued to steadily greater cost controls measures in place,
needed. As the industry is relatively new, a
climb in its role as one of the most mid-management is expected to take up
shortage of sales professionals familiar
important channels for merchants in the role of general sales.
with this new sales model is expected. As
China, particularly for the consumer goods a consequence, salaries and benefits will Within consumer industries, many
industry. Hiring in this space has also be much higher for such candidates, as companies are relocating their regional
remained healthy. compared to those with traditional sales hubs from Hong Kong to Singapore or
SALARIES FOR E-COMMERCE or e-commerce experience. Shanghai. This is primarily a cost-cutting
PROFESSIONALS EXPECTED TO move as well as a way to escape the
MARKET CORRECT growing talent shortage in Hong Kong.
HONG KONG SAR
Unlike the e-commerce boom in 2019, E-COMMERCE AND DIGITAL SALES
which saw lucrative salaries and increases, POSITIONS MOST IN DEMAND
JAPAN
2020 will likely see salaries corrected by HIRING AT A HIGH BUT BILINGUAL
the market and pay increases becoming IT solutions and e-commerce skillsets are
CANDIDATES IN SHORT SUPPLY
smaller. Now that e-commerce platforms expected to be high in demand for the
and businesses are more established, coming year. This is driven by a Continuous growth is expected in the
companies are less willing to pay premium combination of market conditions, Japan sales market, particularly within the
for relevant candidates who are now more consumer preferences and Hong Kong’s tech sector.
easily found in the market. current economic conditions. With security However, there remains a significant gap
and privacy becoming important issues between opportunity demands and
across organisations, IT solutions are available candidates. Most companies are
geared for high demand, while rising real actively and aggressively hiring headcounts
China’s march to becoming the world’s estate costs and a growing preference for
first cashless society is boosted by the for sales but prefer native Japanese talent
online shopping has given more with English capability – a pool of talent
November 2019 announcement that
tourists to the country can now use prominence to e-commerce solutions. that remains scarce in Japan.
Alipay’s “Tour Pass” program. These will likely lend to a growing need for TECH-BASED SALES FUEL A
specialised sales professionals, especially for COMPETITIVE HIRING MARKET
IT solutions in large corporates.
Considering the ad-tech boom last year,
Another sector that is expected to grow in
SALARY INFORMATION: SALES
this coming year is expected to see an

the coming year is digital media, even higher demand for country
specifically companies involved in online managers, account executives and
selling and advertising campaigns. business development managers. As
Salespersons with knowledge of this bilingual candidates with international
industry will be in high demand. exposure or experience are most suited for
As e-commerce and digital sales are these roles, but also exceedingly rare in
relatively new platforms with an equally the market, hiring has been competitive
small talent pool, specialists in this area which has also impacted offers by
can expect competitive salaries and encouraging higher salaries.
Source: Quartz increases between 10-15 per cent.
NEED FOR SALES ENGINEERS REMAINS
STEADY
NEW RETAIL EXPECTED TO DRIVE Sales Engineers will likely be in steady
HIRING IN 2020 demand as the construction sector is still
In 2020, ‘New Retail’ is expected to be a in high demand across Hong Kong. As
key driver in the sales recruitment market. many multinational professional services
New retail refers to the integration, or firms still have their headquarters in Hong
interlinking, of online and offline shopping Kong, regional and local demand for such

‘HUNTER’ CANDIDATES MOST WANTED REGIONAL HUB STATUS TO DRIVE The future of I.T infrastructure businesses
FOR IT SALES MALAYSIAN SALES ROLES remains promising, considering the rollout
of 5G networks around the world.
As major IT companies launch their new There has been an increase in the number
Singapore has welcomed global and local
artificial intelligence (AI) or robotic of creative and media companies setting
companies to setup their businesses and
process automation products, the demand up shop in Malaysia due to the low setup
trial innovative 5G mobile network use
for sales professionals with a “hunter” costs and high market demand. This has
cases in sectors like automotive, smart
profile, or the ability to go out and sell led to a spike in country manager roles
cities, industrial IoT and healthcare. As a
these new technology products within and salaries as compared to last year,
result, there will be a growing demand for
financial, manufacturing, and retail sectors, especially in conjunction with the growth
technology sales roles that can cater to
has been gradually increasing. This is in the number of technology companies
technology companies that will be
particularly evident as more companies now present in Malaysia.
introducing and integrating their new
look to recruit candidates from their
In Southeast Asia, Malaysia’s reputation of innovations with enterprise companies. We
competitors and offer significantly higher
being a fast growing ‘hub’ for heavy, expect to see more junior to mid-level
compensation and flexible working
chemical and automotive industries has sales management roles come into the
conditions as incentive.
resulted in the selection of more Malaysian market in 2020.
CONSUMER SECTORS REMAIN HEALTHY talent at regional headquarters. This has
OIL & GAS, MARINE & OFFSHORE,
driven up the demand for regional sales
In consumer sectors like FMCG, the market MANUFACTURING SECTORS MOST
roles that are increasingly being based in
is expected to remain stable with various ACTIVE FOR INDUSTRIAL SALES
Malaysia. Being a developed market in the
mid-senior level sales roles available. region with low employment costs and a Currently, the automotive, chemicals,
Bilingual candidates with strong sales large and multilingual population will construction industry are slower, while
background and an excellent network prove to be key drivers for growth in areas like aerospace, logistics, oil & gas,
in retail chains and convenient stores Malaysia’s sales job market. marine & offshore and manufacturing have
background are in high demand. become more active. With the recent rise
in oil prices, we have observed more mid-
SINGAPORE senior positions like sales director,
MALAYSIA RETAIL SECTOR WILL DRIVE NEED FOR business development director and
ROBUST GDP WILL SUPPORT A HEALTHY REGIONAL BUSINESS DEVELOPMENT general manager roles come onto the
SALES JOB MARKET PROFESSIONALS market from the oil & gas and marine &
With Malaysia’s GDP sustaining a healthy The FMCG and retail sector is expected to offshore sectors.
growth of 4-5% YoY, the sales job market remain slow throughout 2020, bringing We anticipate that candidates across all
has remained active with a steady stream with it hiring requirements for strong sectors in the industrial space, particularly
of new roles. This sustained growth, which business developers with regional within manufacturing and with automation
is above the world average of 3.5% for experience, as companies push for experience will be highly attractive to
2019, has been reflected in the small but regional business. industrial employers in 2020.
significant increases in salaries within sales
Within F&B retail, companies are
functions. This is especially the case within
increasingly in need of experienced
the technology industry, and more so for
operational candidates who can help them
emerging technologies like IoT, AI and data
develop their business. Many companies in
analytics. Fast growing tech companies are
this sector have grown dramatically over
willing to pay slightly more for excellent
talent as compared to previous years, a
the past few years and are now expanding
their outlets across Asia, providing many
‘Retail organisations
trend that is expected to continue into
2020 provided the market maintains its
opportunities for sales professionals. across Malaysia
long-term trend of stable growth. TECH SALES EXPECTED TO BOOM
RETAIL MARKETS TURN TO INTERNAL
AMIDST GLOBAL 5G ROLLOUT have cut down
PROMOTIONS The number of global technology giants
that have set up R&D centres in Singapore
on human capital
Within the retail market, we have observed
an increasing trend of promoting internal
has resulted in an abundance of jobs that
will likely continue over the next few years.
costs by promoting
employees within senior sales functions to
help drive down human capital costs. This
This will be further compounded by the
increasing number of technology start-ups
internal employees
trend is expected to continue throughout
2020.
entering the Singapore market.
to senior positions.’
SALARY INFORMATION: SALES

SALES
Merchandising Visual Merchandising Service Delivery

RETAIL Manager Manager Manager
China 350 - 700 300 - 550 N/A
Hong Kong SAR 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

China 500 - 800 250 - 600
Hong Kong SAR 400 - 600 720 - 840
Japan 8 - 10 6 - 10
Malaysia 110 - 150 72 - 96
Singapore 65 - 120 60 - 100
SALES Country Manager Regional Sales Director Sales Director

China 1,200 - 2,000 700 - 1,200 600 - 1,000
Hong Kong SAR 1,050 - 2,000 1,000 - 1,600 840 - 1,200
Japan 20 - 50 15 - 30 15 - 25
Malaysia 350 - 650 300 - 550 250 - 480
Singapore 250 + 180 - 220 150 - 180
Business Development Sales Operations

Manager Manager
China 300 - 550 260 - 400
Hong Kong SAR 480 - 720 480 - 720
Japan 9 - 20 9 - 16
Malaysia 60 - 240 144 - 280
Singapore 80 - 140 80 - 120
NOTES

RECOMMENDATIONS
FOR EMPLOYERS
TO ATTRACT THE BEST IN MARKET, YOU TAKE ACTION ON THE SKILLS GAP NOW
MUST OFFER THE BEST IN MARKET Digital transformation coupled with regulatory changes
Owing to the economic slowdown, it could be expected and geopolitical tensions are likely the reason why 61 per
that job security would move higher on a candidate’s list of cent of organisations across Asia are currently undergoing
priorities when looking for a new job. But this is not the restructuring to keep up with changing business needs.
case — our research shows that salary or benefit packages Candidates are increasingly unsure about the relevancy of
are still the number one priority, followed by career their skills and organisations are aware that skill shortages
progression and taking up new challenges. Conversely, will impact their business operations to some extent in
companies have shown a steady tightening when it comes 2020 (53 per cent). They are also aware that lack of
to increments and bonuses. But offering job security in a training and professional development is the primary
tight market alone is not going to be enough to attract the cause for skill shortages in their sector or industry. But
best talent; employers are advised to not be motivated by while 58 per cent of organisations are taking action to
fear and value the right talent when it comes to them. Our address skill shortages by identifying these gaps and
research shows that skill gaps would most impact providing training to upskill their current workforce, this
productivity, sales and innovation – which would cost far leaves 42 per cent who are yet to take this increasingly
more in the long run. Career progression is equally imperative step. Other steps being taken by employers to
important, and employers who cannot provide vertical bridge the skills gap include increasing recruitment
movement plans for high achieving talent could consider budgets, focusing on employer value proposition and
internal transfers as the majority of candidates (66 per recruiting from other industries (43 per cent), transferring
cent) are willing to moving abroad for a new job with their employees between different functions (37 per cent) or
current or new employer. hiring overseas workers instead (57 per cent). If your
organisation is not actively working on one of these areas,
consider doing so sooner rather than later.
TO RETAIN THE BEST IN THE MARKET, TRY
CULTIVATING A FLEXIBLE ENVIRONMENT
For the fourth year in a row, candidates voted work-life
LEVERAGE ON FLEXIBLE RECRUITMENT
balance as the number one reason why they are happy with SOLUTIONS TO COUNTER BUSINESS
their current employer, followed by salary or benefit CHALLENGES
package, and management style and company culture. While current market conditions such as cost cutting, or
However, only 49 per cent of employees thought their work- impending skill shortages may prove challenging for
life balance was good or very good, with others falling into traditional hiring models, they are actually prime conditions
the average (35 per cent), and poor/very poor (16 per cent) to tap on flexible recruitment solutions. Our research shows
categories. Work-life balance can be greatly augmented by that contracting or temporary workers are a surprisingly
flexible working options, but a surprising majority of underutilised talent source in Asia. Only 32 per cent of
employees do not use any flexible working options (46 per employers employed temporary or contract staff on a
cent). 37 per cent of organisations offered home or remote regular basis, while 29 per cent employed them ‘only in
working options, as well as ‘flexi-time’ working outside of exceptional circumstances’. This comes despite 49 per cent
core hours. But once again, a surprising 29 per cent offered of employers being unsure or certain that they do not have
no options at all. Employers could work towards integrating the talent needed to meet their business objectives.
more flexible working policies to improve work-life balance Contracting or temporary workers are most often hired for
RECOMMENDATIONS FOR EMPLOYERS

for their employees, or if already in place, work on educating their tech/digital and communication skills (voted by 37
employees on the options available. per cent of employers), followed by data/analytics and
projects/change management skills (voted by 30 per cent
of employers). These are arguably the most important skills
needed to weather the digital transformation and business
uncertainty expected in the year ahead. Coupled with the
lower costs, specialised skill sets and adaptability that such
workers can bring to an organisation, businesses who have
not incorporated flexible recruitment solutions could
benefit from reconsidering.
RECOMMENDATIONS
FOR EMPLOYEES
PREPARE TO PROVE YOUR WORTH EXPLORE CONTRACTING OR TEMPORARY
With the majority of employers in the region (42 per ROLES
cent) expecting a weakening general outlook for their More organisations are hiring contracting or temporary
local economy in 2020, it is no surprise that more of them workers for skill sets such as tech/digital (37 per cent),
expect to cut back on hiring, as well as compensation and communication (37 per cent), projects and change
bonuses. The number of employers who offer increments management (30 per cent), and data and analytics (30
between 6-10 per cent or above has steadily dropped per cent). These skills are among the highest in demand
from 25 per cent in 2016 to 19 per cent in 2019, while 17 across industries and are subsequently likely to garner the
per cent expect to give no increment at all. This may be a best compensation rates as well. Apart from this, such
concerning trend for employees, considering that 41 per roles often help expand networks, offer coveted project-
cent of them are dissatisfied or very dissatisfied with their based experience that keeps professionals at the cutting
current compensation package. However, the majority of edge of their field, and often have provisions for flexible
organisations still expect increased business activity in working hours. Considering salary or benefit packages are
2020 (59 per cent) which will likely translate into ample still the number one priority for most candidates, followed
career progression opportunities for employees with the by career progression, new challenges and work-life
right skill sets. Considering 60 per cent of employees did balance, contracting or temporary roles provide a lesser
not ask for a raise last year, more should be encouraged known but equally effective route to reaching these
to speak up and ask for their due worth in 2020. At the objectives. Some places in Asia like Hong Kong are
same time, they would be advised to arm themselves with already advancing quickly in their understanding of the
a strong business case when doing so to manage value such employees bring. Considering the current pace
expectations, considering 16 per cent of employees asked of change and digital transformation, this trend is only
for a raise last year without success. expected to continue, and bring with it a plethora of new
flexible recruitment opportunities.
UPSKILL TO THE NEED OF THE HOUR
While most candidates still believe their skills will continue
to be relevant in the next five years, organisations are less
sure. 53 per cent of organisations believe that skill
shortages will impact their business operations to some
extent in 2020, and while many are trying to address this,
employees will also have a part to play in maintaining their
relevancy. Most employees currently spend 1-2 hours a
week on upskilling (35 per cent), followed by 3-5 hours a
week (27 per cent) and 6-10 hours a week (12 per cent). 19
per cent did not upskill at all. Considering the ongoing rate
of digital disruption, and the fact that 61 per cent of
organisations are currently restructuring to keep up with
changing business needs, those looking for consistent
career progression may find 1-2 hours a week to no longer
be sufficient. Employees are encouraged to examine their
RECOMMENDATIONS FOR EMPLOYEES
current skill sets and its relevancy for the future; as well as
accordingly increasing their time spent upskilling to keep
pace with rapidly changing market conditions.
FOCUS ON INNOVATION AND SOFT SKILLS

Employers are increasingly understanding the deeper
implications of skill gaps, with 44 per cent saying they
would impact innovation and creativity in an organisation,
along with productivity and business development. This
renewed importance to innovation may be a product of
the increasingly digital age, making upskilling in the right
areas doubly important. The hard skills most in demand
by employers are project management, statistical analysis
and data mining, and foreign language fluency. Employers
are also increasingly understanding the importance of soft
skills or psychological/emotional competencies across
industries, with 44 per cent saying they were the most
sought after. The soft skills most in demand were problem
solving, team working, and verbal communication for the
second year in a row. Candidates would do well to take
heed of these developments and upskill both their hard
and soft skills in these areas.
PROUD SPONSORS OF THE
WOMEN IN IT AWARDS ASIA
We were honoured to be proud sponsors of the Women in IT Awards Asia held in
Singapore in May 2019.
It’s a sign of how far women have come in the world of technology when we have
an awards ceremony that acknowledges the achievement and accomplishments of
female executives in the sector.
Our sponsorship of the awards was the latest initiative we have taken in the region
to promote diversity not only in IT, but across all sectors in the world of work.
As the world’s leading recruiter, we have the opportunity and responsibility to

champion the building of more diverse workforces and inclusive workplaces. We
do this by regularly creating and curating a number of dedicated diversity and
inclusion marketing materials and activities as well as purposefully including
diversity and inclusion insights into our core ‘set piece’ recruiting expert activities.
This aspect of our service to our customers is a unique selling point for Hays and
never fails to delight them.
It is well known that diverse organisations not only outperform those which are less
diverse, but are also more likely to attract and retain talented professionals.
Recognising and harnessing the dynamism of diversity is an essential element of our
expertise, enabling people and organisations to fulfill their potential. These awards
not only recognised the valued contribution made by women, but is also a clear
message that women are indeed leading from the front in the technology sector.
CONTACT US
China
5,000+ Beijing
T: +86 010 8648 7900
E: [email protected]
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Shanghai
permanent jobs each year T: +86 21 2322 9600
1,000+ Suzhou
T: +86 512 8780 7725
Temporary workers paid Guangzhou
each week T: +86 20 3811 0333
Shenzhen
700+ T: +86 755 3290 4090

Employees in Asia Hong Kong SAR

T: +852 2521 8884
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Tokyo
T: +81 3 3560 1188
Offices across the region
Osaka
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Years of experience
T: +81 45 326 3130
Malaysia
Kuala Lumpur
T: +60 3 2786 8600
Hays is the world’s leading professional and skilled E: [email protected]
recruitment company operating across 33 countries
globally. We continue to strengthen our position in Sunway
Asia operating in six markets across the region from T: +60 3 7611 8600
12 offices. Our headcount continues to grow as we E: [email protected]
aim to help substantially more companies achieve
their goals and support more people to find the
right jobs to transform their lives. Singapore
T: +65 6223 4535
We are accredited with the world-leading ISO E: [email protected]
9001:2015 certification in all our operational markets
in Asia including China, Hong Kong SAR, 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 ©Copyright Hays Specialist Recruitment Pte Ltd (Singapore) 2020. HAYS,
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TOWARDS A DIGITISED

AND FLEXIBLE FUTURE:

hays.cn | hays.com.hk | hays.co.jp | hays.com.my | hays.com.sg

Market Overview & Trends 4

35% Intend to increase salaries by above

43% Predict their permanent

Are restructuring their department/

Said home/mobile working is the

Say skill shortages had a negative

21% See the general outlook for the local

IN 2020, HOW ARE YOUR EMPLOYEES’ SALARIES LIKELY TO CHANGE? (ASIA)

Employee salary increases by location

CHINA HONG KONG SAR JAPAN MALAYSIA SINGAPORE

6 | 2020 Hays Salary Guide - Asia

DO BONUSES FORM PART OF YOUR ORGANISATION’S REMUNERATION PACKAGE?

60% 30% 10%

DO YOU GIVE BENEFITS IN ADDITION TO SALARY AND BONUS?

Of those who said yes, the top ﬁve beneﬁts are:*

75% 29% 27% 24% 21%

Health/medical Life assurance Health and Pension Financial support

WHAT PERCENTAGE OF STAFF WILL BE AWARDED BONUSES THIS YEAR?

2020 Hays Salary Guide - Asia | 7

36% Remained the same

39% Remain the same

HOW OFTEN DO YOU EMPLOY TEMPORARY/CONTRACT STAFF?

32% 25% 29% 14%

Regular, Special projects/ Exceptional Never

59% Remain the same

8 | 2020 Hays Salary Guide - Asia

FOR WHAT REASONS DO YOU PLAN TO RECRUIT TEMPORARY/CONTRACT STAFF IN 2020?

The top ﬁve are:*

44% 26% 23% 22% 19%

Meet peaks Ensure ﬂexibility No plans to recruit Cover staff on Access to

*More than one answer provided

The top ﬁve are:*

37% 37% 30% 30% 24%

Communication Tech/digital Data and analytics Projects and Critical thinking

Other skills nominated include commercial/business development, managerial/leadership, software development,

Flexi-time working hours

Informal ﬂexible working

37% 37% 29% 29% 15% 6% 5% 3% 3% 1%

2020 Hays Salary Guide - Asia | 9

50% 30% 20%

If yes, how well are they adhered to?

18% 46% 11% 25%

Well Fairly well Not well Not sure

WHAT PERCENTAGE OF WOMEN DO YOU HAVE IN MANAGEMENT POSITIONS?

CHINA HONG KONG SAR JAPAN MALAYSIA SINGAPORE

36% 39% 19% 32% 30%

CHINA HONG KONG SAR JAPAN MALAYSIA SINGAPORE

8% 18% 11% 15% 28%

10 | 2020 Hays Salary Guide - Asia

WHAT SKILLS ARE MOST SOUGHT-AFTER BY YOUR ORGANISATION?

44% Soft skills

56% Hard skills

83% 75% 70% 59% 56%

Problem solving Team working Verbal Critical thinking Interpersonal skills

53% 51% 50% 50% 49%

Attention to detail Analytical/ Time management Flexibility Leadership