News Feed Item

Hong Kong Among Top Markets Increasing Base Salaries for Majority of Finance and Accounting Professionals

Robert Half Survey Shows Asia Pacific Companies Are the Most Competitive in Cash Compensation in Order to Attract and Retain Top Finance Talent

HONG KONG, CHINA -- (Marketwired) -- 05/15/14 -- If you are a finance and accounting professional and you have not had a pay rise lately, then it is time to start making a game plan for getting the salary you deserve. That is because the majority of your peers in Hong Kong are likely to have their base salaries increased.

According to the latest research by specialist recruitment firm Robert Half (NYSE: RHI), Hong Kong is one of only six markets globally where a majority of companies (69%) are paying more to professionals in their finance and accounting department with the trend towards further increases. The other five are China, Singapore, New Zealand, Australia and Brazil. The majority of countries surveyed are either maintaining or reducing salaries.

The global survey was conducted among 2,431 Chief Financial Officers (CFOs) in 16 countries, 150 of which are from Hong Kong.

Globally, Hong Kong is near parity with China, where 70% of CFOs in China are planning to increase salaries for finance and accounting professionals this year.

Ms Pallavi Anand, Managing Director of Robert Half Hong Kong said an increase in base salaries confirms a sense of optimism as Hong Kong continues to be well regarded as a thriving hub for international and regional companies to locate their finance and accounting team for Greater China and Asia-focused operations.

TABLE 1: On average what remuneration trends is your finance department currently facing for salaries?

               All              Hong                          New
Salaries    Countries Singapore Kong China Japan Australia  Zealand  UAE  UK
Increasing     44%       55%     69%  70%   45%     55%       60%    43% 42%
Maintaining    54%       43%     29%  28%   52%     43%       36%    55% 54%
Decreasing      3%        1%     2%    2%    3%      2%        4%     2%  4%

Salaries Brazil Chile Austria Belgium France Germany Switzerland Netherlands
Increasing  58%   39%    39%     23%     28%    43%       39%         27%
Maintaining 40%   55%    61%     73%     72%    55%       58%         70%
Decreasing   2%    6%     0%      4%      0%     2%        3%          3%

In large Hong Kong firms with 1000 or more staff, 80% are paying their finance and accounting staff more, compared to 63% of smaller firms with less than 500 employees.

"While the trend is definitely up, it does not mean every finance and accounting professional should expect a pay rise. The ability to increase salaries depends on the performance of individual companies. Employees moving to new firms are also likely to get a bigger pay rise than employees staying where they are.

"Many companies usually have a general range in mind when hiring for a specific position, but will go to the top end of the range for outstanding candidates. Candidates who feel confident that they are experienced and have the ability to handle the responsibilities of the position, should be prepared to engage in a salary negotiation," Ms Anand said.

And when it comes to bonus time, Hong Kong finance and accounting employees also have a good chance of getting more. The survey found that 43 per cent of companies are increasing bonuses while 47 per cent are paying the same as last year.

Compared to the rest of the world, Hong Kong and China have the highest number of companies that are increasing bonuses for finance and accounting professionals, ahead of Singapore, Australia and Brazil.

TABLE 2: On average what remuneration trends is your finance department currently facing for bonuses?

Bonuses    Countries Singapore   HK  China Japan Australia   NZ   UAE    UK
Increasing    28%       37%     43%   61%   33%     37%     31%   27%   26%
Maintainin    52%       59%     47%   33%   57%     51%     36%   51%   51%
/No           20%        4%     10%    6%   10%     12%     33%   22%   23%

Bonuses  Brazil Chile Austria Belgium France Germany Switzerland Netherlands
Increasing  37%   29%    25%     14%     18%    29%       16%         12%
Maintaining 54%   45%    49%     58%     56%    55%       58%         54%
/No          9%   26%    26%     28%     26%    16%       26%         34%

An infographic highlighting salary and bonus information across 16 countries

Company Logo

About Robert Half

Robert Half is the world's leading specialised recruitment firm and a pioneer in global placement services for accounting, finance, banking and technology professionals. Founded in 1948, the company is traded on the New York Stock Exchange (NYSE: RHI).

Robert Half operates four divisions in Hong Kong, including Robert Half Finance & Accounting for temporary and permanent finance and accounting professionals; Robert Half Financial Services for high-calibre professionals within finance & accounting, operations, risk, compliance, investment banking & financial markets, and technology; Robert Half Technology for experienced IT professionals; and Robert Half Management Resources, for senior-level finance, accounting and business systems professionals on a project and interim basis.

For more than 15 years, Robert Half has been named to FORTUNE® magazine's list of "Most Admired Companies." (March 17, 2014). Please visit: www.roberthalf.com.hk

Image Available: http://www2.marketwire.com/mw/frame_mw?attachid=2594401

For more information or an interview with Pallavi Anand, please contact:

Calvin Sim
Senior Marketing & PR Manager, Asia
Robert Half
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
The best way to leverage your Cloud Expo presence as a sponsor and exhibitor is to plan your news announcements around our events. The press covering Cloud Expo and @ThingsExpo will have access to these releases and will amplify your news announcements. More than two dozen Cloud companies either set deals at our shows or have announced their mergers and acquisitions at Cloud Expo. Product announcements during our show provide your company with the most reach through our targeted audiences.
DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. Digital Transformation (DX) is a major focus with the introduction of DXWorldEXPO within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive over the long term. A total of 88% of Fortune 500 companies from a generation ago are now out of bus...
With 10 simultaneous tracks, keynotes, general sessions and targeted breakout classes, @CloudEXPO and DXWorldEXPO are two of the most important technology events of the year. Since its launch over eight years ago, @CloudEXPO and DXWorldEXPO have presented a rock star faculty as well as showcased hundreds of sponsors and exhibitors! In this blog post, we provide 7 tips on how, as part of our world-class faculty, you can deliver one of the most popular sessions at our events. But before reading...
Cloud Expo | DXWorld Expo have announced the conference tracks for Cloud Expo 2018. Cloud Expo will be held June 5-7, 2018, at the Javits Center in New York City, and November 6-8, 2018, at the Santa Clara Convention Center, Santa Clara, CA. Digital Transformation (DX) is a major focus with the introduction of DX Expo within the program. Successful transformation requires a laser focus on being data-driven and on using all the tools available that enable transformation if they plan to survive ov...
DXWordEXPO New York 2018, colocated with CloudEXPO New York 2018 will be held November 11-13, 2018, in New York City and will bring together Cloud Computing, FinTech and Blockchain, Digital Transformation, Big Data, Internet of Things, DevOps, AI, Machine Learning and WebRTC to one location.
DXWorldEXPO LLC announced today that ICOHOLDER named "Media Sponsor" of Miami Blockchain Event by FinTechEXPO. ICOHOLDER give you detailed information and help the community to invest in the trusty projects. Miami Blockchain Event by FinTechEXPO has opened its Call for Papers. The two-day event will present 20 top Blockchain experts. All speaking inquiries which covers the following information can be submitted by email to [email protected] Miami Blockchain Event by FinTechEXPO also offers s...
@DevOpsSummit New York 2018, colocated with CloudEXPO | DXWorldEXPO New York 2018 will be held November 11-13, 2018, in New York City. From showcase success stories from early adopters and web-scale businesses, DevOps is expanding to organizations of all sizes, including the world's largest enterprises - and delivering real results.
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Dion Hinchcliffe is an internationally recognized digital expert, bestselling book author, frequent keynote speaker, analyst, futurist, and transformation expert based in Washington, DC. He is currently Chief Strategy Officer at the industry-leading digital strategy and online community solutions firm, 7Summits.
"We started a Master of Science in business analytics - that's the hot topic. We serve the business community around San Francisco so we educate the working professionals and this is where they all want to be," explained Judy Lee, Associate Professor and Department Chair at Golden Gate University, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Digital Transformation and Disruption, Amazon Style - What You Can Learn. Chris Kocher is a co-founder of Grey Heron, a management and strategic marketing consulting firm. He has 25+ years in both strategic and hands-on operating experience helping executives and investors build revenues and shareholder value. He has consulted with over 130 companies on innovating with new business models, product strategies and monetization. Chris has held management positions at HP and Symantec in addition to ...
DXWorldEXPO LLC announced today that Dez Blanchfield joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Dez is a strategic leader in business and digital transformation with 25 years of experience in the IT and telecommunications industries developing strategies and implementing business initiatives. He has a breadth of expertise spanning technologies such as cloud computing, big data and analytics, cognitive computing, m...
Cloud-enabled transformation has evolved from cost saving measure to business innovation strategy -- one that combines the cloud with cognitive capabilities to drive market disruption. Learn how you can achieve the insight and agility you need to gain a competitive advantage. Industry-acclaimed CTO and cloud expert, Shankar Kalyana presents. Only the most exceptional IBMers are appointed with the rare distinction of IBM Fellow, the highest technical honor in the company. Shankar has also receive...
DXWorldEXPO LLC announced today that Kevin Jackson joined the faculty of CloudEXPO's "10-Year Anniversary Event" which will take place on November 11-13, 2018 in New York City. Kevin L. Jackson is a globally recognized cloud computing expert and Founder/Author of the award winning "Cloud Musings" blog. Mr. Jackson has also been recognized as a "Top 100 Cybersecurity Influencer and Brand" by Onalytica (2015), a Huffington Post "Top 100 Cloud Computing Experts on Twitter" (2013) and a "Top 50 C...
Daniel Jones is CTO of EngineerBetter, helping enterprises deliver value faster. Previously he was an IT consultant, indie video games developer, head of web development in the finance sector, and an award-winning martial artist. Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams.