Robert Half Salary Guide Reveals Strong Opportunities For Asian Finance Professionals In 2014

Vanessa Doctor

14 March 2014

The year 2014 is a positive time for jobseekers in the Hong Kong financial services industry, with some 40 per cent of senior leaders saying they are looking to expand their headcounts in the next months, according to the "2014 Salary Guide" by .

The study covers three sectors of employment: finance and accounting, banking and financial services and technology. In the survey of 150 senior financial services leaders, 150 chief financial officers and 104 chief information officers, it was found that Hong Kong firms are poised to add in the first half of the year.

Ninety-four per cent of CFOs and finance directors in accounting firms said they expect to achieve growth in 2014, with 48 per cent planning to increase their permanent staff numbers. In addition, 69 per cent aim to raise salaries and 43 per cent plan to boost bonus payments, as compared to 59 per cent and 25 per cent in 2013.

Ninety-two per cent of senior financial services leaders are confident their companies will grow, with 46 per cent saying they plan to increase their financial services staff in the first six months of 2014. This is up from 36 per cent in the same period last year. Over half of the respondents also said they intend to increase salaries, while 31 per cent are prepared to shell out bigger bonuses.

"The regulatory agenda remains firmly entrenched in Hong Kong financial services leaders' daily agenda, with banks and financial institutions expecting to hire more to navigate through domestic and international risk and compliance issues. There also continues to be an increasing trend of Asian and Chinese banks expanding into new markets in the region and around the world, particuarly in the insurance, private equity, banking and asset management sectors," said Pallavi Anand, director of Robert Half in Hong Kong.

Finance managers topped the firm's list of "Most Promising Jobs in Hong Kong in 2014," earning between HK$420,000 and HK$720,000 ($54,000 - $93,000) a year. They are followed by financial planning and analysis managers and directors in large firms, internal audit managers and directors, compliance/AML professionals and then operational risk professionals to complete the top five.

In Japan, demand is strong for candidates with experience ranging from associate to vice president (VP) level in audit, compliance, financial control, tax, financial advisory and consulting. Sought-after skills include regulatory experience and knowledge (including Dodd Frank reforms and Basel iii requirements), anti-money laundering, financial due diligence, valuations, actuarial skills, and forensics.

In Singapore, hiring activity for financial services professionals is expected to be strong in 2014, particularly in the insurance and corporate banking sectors and private banking. Software skills will also be sought, including Midas, Avaloq and advanced Excel.