Welcome!

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%
----------------------------------------------------------------------------


----------------------------------------------------------------------------
                                                                     The
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.

BONUSES
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?


----------------------------------------------------------------------------
              All
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%
----------------------------------------------------------------------------
Decreasing
/No           20%        4%     10%    6%   10%     12%     33%   22%   23%
----------------------------------------------------------------------------


----------------------------------------------------------------------------
                                                                     The
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%
----------------------------------------------------------------------------
Decreasing
/No          9%   26%    26%     28%     26%    16%       26%         34%
----------------------------------------------------------------------------


Image
An infographic highlighting salary and bonus information across 16 countries
http://release.media-outreach.com/i/Download/1775

Company Logo
http://release.media-outreach.com/i/Download/1774

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
Coca-Cola’s Google powered digital signage system lays the groundwork for a more valuable connection between Coke and its customers. Digital signs pair software with high-resolution displays so that a message can be changed instantly based on what the operator wants to communicate or sell. In their Day 3 Keynote at 21st Cloud Expo, Greg Chambers, Global Group Director, Digital Innovation, Coca-Cola, and Vidya Nagarajan, a Senior Product Manager at Google, discussed how from store operations and ...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, 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.
"We're focused on how to get some of the attributes that you would expect from an Amazon, Azure, Google, and doing that on-prem. We believe today that you can actually get those types of things done with certain architectures available in the market today," explained Steve Conner, VP of Sales at Cloudistics, 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.
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, 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.
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, 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.
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, 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.