ChinaSalaryandEmploymentForecastReport2013_Finance

ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES FINANCE 10 SALARY & EMPLOYMENT FORECAST 2013 FINANCE Market overview Employment conditions Despite ongoing global economic concerns, the finance job market in China experienced a strong performance and remained buoyant throughout 2012. There was however, a slight slowdown in hiring activity in the final quarter of the year due to quieter economic conditions. A number of macro issues, along with the country’s leadership change, also impacted senior leaders’ confidence relating to new headcount hiring. Much of the growth in China has been organic, due to a shift in focus to domestic sales rather than exporting. Further, as global economic conditions change many organisations are focusing their growth plans in Asia and diverting investment to China as a key strategy to increase global revenue. China also remains an attractive destination for new companies entering the Asian market. Multinational organisations continue to expand into the region and there has been a shift in focus from export to domestic sales. This development has lead to the need for multinationals to increase headcount to take advantage of the extensive market opportunities within Mainland China, resulting in significant demand for senior level professionals. Experienced professionals are required to help up-skill existing teams and fill new positions in the commercial finance sector to help support business decisions. In addition, companies are becoming increasingly aware that they require stronger local leadership rather than direction from a head office located overseas. Skills in demand Professional qualifications are becoming increasingly important within the finance industry as employers seek professionals with a high level of knowledge and skill in their related field. Business support roles such as Financial Analysts and Commercial Directors are in high demand as a result of the focus on business expansion, and these professionals are required to support management with their strategic decision-making. Corporate finance, mergers and acquisitions (M&A) and internal control professionals are also highly sought-after as many companies change their focus from IPO to M&A, consolidate their businesses and strengthen their internal control practices Other talent in demand at all levels include Financial Analysts, Tax Managers and Strategy Directors. Salary expectations Average salary increases over the coming year will vary according to the region within China and the type and level of role. Salary increases for speciality finance roles such as M&A Managers and Commercial Analysts will be driven by demand for these professionals, with likely increases of up to 30% for junior roles and up to 20% for management level positions. Employers will need to award above average salary increases to attract and retain quality talent for finance roles in rapidly growing industries, such as FMCG, retail and pharmaceutical, as well as for positions located outside the main cities. Salary increases for finance roles in other sectors are more likely to be an average of 15%, depending on experience and qualifications. As the retention of key employees becomes more important in China due to the difficulty of sourcing quality talent in the market, employers have become more sophisticated with their compensation and benefits packages. There has been an increase in retention schemes being offered by employers, and sign-on bonuses are also becoming increasingly common to attract talent. In many companies, employees are paid a thirteen month salary along with a company and/or personal performance bonus payment of between one and two month’s salary. Market outlook There is likely to be more caution around hiring finance professionals over the next 12 months, particularly within the more traditional industries such as manufacturing, automotive and telecommunications. However, this will be offset by more multinationals increasing headcount as they focus on revenue generation and expand their businesses into China. If global market conditions continue to weaken, there could be an influx of overseas talent into China seeking career opportunities which would result in greater competition among job seekers. There is likely to be a volume of M&A and Financial Analyst positions aligned with predicted M&A market activity, as well as business support roles from junior through to middle management level. There will also be an increasing demand for Finance Managers and Financial Controllers in small-to-medium sized foreign manufacturing companies. As the focus on talent management continues in the recruitment market, employers will look to offer more creative compensation and benefit incentives to attract and retain top performers, especially at the senior level. This is likely to include a sign on bonus, shares and saving plans. In addition, job satisfaction and stability continues to be important for professionals and are therefore important for employers to incorporate in their talent and retention strategies. 11 SALARY & EMPLOYMENT FORECAST 2013 FINANCE Salary tables Finance Northern China Eastern China Southern China Guangzhou Southern China Shenzhen Role Experience RMB’000 RMB’000 RMB’000 RMB’000 Finance & Accounting Accountant 2+ years 130+ 130+ 120+ 120+ Financial Analyst 3–5 years 132–330 200–360 120–300 120–300 Accounting Manager 5+ years 150–240 220–360 150–250 150–250 Senior Financial Analyst 5–8 years 260–550 300–550 240–550 240–550 Finance Manager 7+ years 260–550 290–500 240–550 240–550 Financial Planning & Analysis Manager 7–10 years 350–700 350–700 350–700 350–700 Financial Controller 10+ years 660–1,100 600–1,000 500–800 600–1,000 Regional Financial Controller 12+ years 660–1,300 850–1,300 600–1,200 600–1,200 Finance Director, China 12+ years 790–1,500 900–1,500+ 720–1,500 720–1,500 Mergers & Acquisitions Director 12+ years 990–1,700 900–1,700+ 900–1,500 900–1,500+ Head of Strategy / Business Development 12+ years 990–2,000 1,200–2,000+ 900–1,800 900–1,800+ Group CFO / Regional CFO 15+ years 1,000–2,200 1,500–2,000+ 1,200–2,000 1,200–2,000+ Treasury Treasury Accountant 2–5 years 130+ 170+ 120+ 120+ Treasury Manager 5–10 years 360–730 390–700 300–660 300–660 Head of Treasury, Country 12+ years 790–1,100 700–1,200 700–1,200 700–1,200 Regional Treasury Director 15+ years 790–1,500 900–1,400 720–1,400 720–2,000 Taxation Tax Accountant 2–5 years 130+ 150+ 120+ 120+ Tax Manager 5–10 years 330–730 360–800 300–660 300–660 Tax Director, China 10+ years 660–1,400 850–1,300 600–1,300 600–1,300 Regional Tax Director 12+ years 990–1,500 1,300–1,700 900–1,400 900–1,400 Internal Audit Internal Auditor 3–5 years 200–330 200–350 180–300 180–300 Audit Manager, Commercial 4–7 years 330–610 300–750 300–550 300–550 Audit Manager, Big 4 4–7 years 390–660 400–650 350–600 350–600 Head of Audit / Director of Audit 12+ years 770–1,300 800–1,200+ 800–1,600 800–2,000+ 12 SALARY & EMPLOYMENT FORECAST 2013 Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & SUPPLY CHAIN PROPERTY & CONSTRUCTION RETAIL SALES TECHNOLOGY ENGINEERING & MANUFACTURING FINANCE HUMAN RESOURCES LEGAL FINANCIAL SERVICES MARKETING PROCUREMENT & CoNtACt us Worldwide leaders in specialist recruitment www.michaelpage.com.cn Beijing 2701 / 2708 SK Tower No. 6 Jia Jianguomenwai Avenue Chaoyang District Beijing, China 100022 Tel +8610 5969 0666 Fax +8610 5969 0669 enquiries@michaelpage.com.cn Shanghai – Pudong Level 8 Tower 2, Shanghai International Finance Center No. 8 Century Avenue, Pudong District Shanghai, China 200120 Tel +86 21 6062 3000 Fax +86 21 6062 3001 enquiries@michaelpage.com.cn Shanghai – Puxi 601– 603 Shanghai Kerry Centre 1515 Nanjing Road (West) Jingan District Shanghai, China 200040 Tel +86 21 3222 4758 Fax +86 21 3222 4759 enquiries@michaelpage.com.cn Guangzhou Suite 1804 Teem Tower 208 Tianhe Road Tianhe District Guangzhou, China 510620 Tel +86 20 2338 5700 Fax +86 20 2338 5701 enquiries@michaelpage.com.cn Shenzhen Suite 504 China Resources Building 5001 Shennan Dong Road Luohu District Shenzhen, China 518001 Tel +86 755 3396 0900 Fax +86 755 3396 0901 enquiries@michaelpage.com.cn Suzhou Room 306, International Financial Center 23-B Time Square, Huachi Street Suzhou Industrial Park Suzhou, China 215021 Tel +86 521 6799 5300 Fax +86 521 6799 5301 enquiries@michaelpage.com.cn www.michaelpage.com.cn Button 202: Button 204: Button 205: Button 203: Button 206: