Hong Kong Human Resources & Corporate Services Salary Survey 2018

Transcription

1 Hong Kong Human Resources & Corporate Services Salary Survey

2 INTRODUCTION The Aquis Search Hong Kong Human Resources & Corporate Services Salary Survey 2018 details salary information and recruiting trends in the business sectors we cover. Our information has been researched and collated with the help of our clients and candidates and from our working knowledge of the marketplace. Aquis Search consultants have extensive expertise in their practice area and the information reported is based on telephone interviews with hiring managers, HR professionals and in-house recruiters as well as data extracted from our own extensive database and internal research resources. As with all reports that detail salary information and trends, we represent the mainstream view and we recognise there will be individual situations that fall outside the data published. This survey is therefore a guide to general movement in the sector. Please contact us for further information or for clarification on any of the compensation trends detailed in this report. Hong Kong Human Resources & Corporate Services Salary Survey

3 Market Overview Human Resources Many firms are adopting more technology into their human resources (HR) operations and processes and we have seen an increase over the past few months in technology focused roles. HR technology roles are multifaceted, and can include every step of design and implementation, thus the nature and the requirements of the skill sets can vary. Generally firms are looking for IT or technically strong people with HR exposure, or HR professionals that have implemented similar systems elsewhere. The sensitive nature of dealing with HR information often means hiring managers need candidates with HR training or experience so they have an awareness of the issues and an HR mindset. This can lead to dilemmas when hiring for such roles. The talent pool is limited so if it isn t possible to hire from competitors, then the net needs to be cast wider. Many companies look to external hires initially, but revert to promoting loyal staff to newly created roles as they already have the advantage of knowing company processes and culture. In addition to IT related growth, we are seeing more demand for specialists in compensation and benefits, rewards and projects. There has been a trend for experienced professionals to look for opportunities to broaden their exposure and actively seek a move to other industries. Junior professionals are looking for the security of a structured environment found in larger corporations. Mid to senior professionals are more open to a smaller set up, seeking a change from large corporates where they are more removed from their core expertise or they don t see their value, opting to work in roles where they make a difference to the overall business. Overall, we are finding that HR professionals are making decisions based on factors such as company culture, additional benefits or perks, stable working hours and the promise of a better work/life balance. Company Secretary Company secretaries are in demand in Hong Kong, especially by Chinese companies acquiring Hong Kong listed companies. Chinese organisations are acquiring firms in Hong Kong rather than setting up themselves, as it is easier to enter the market with existing staff who understand the business and more importantly the Hong Kong working culture and what is needed to work in a Chinese firm with Hong Kong staff. In addition to understanding and bridging the gap between Hong Kong and Chinese business cultures, Chinese firms are looking for candidates with Hong Kong listing rules experience. The company secretary role deals with sensitive information and an in depth understanding of local Hong Kong laws is imperative. Hiring is normally at the mid-level as these roles tend to be hands on and can be very administrative at times, so many senior level candidates are not interested and are also an expensive option for the employers. Private Practice Paralegal A recent change in law society regulations for PRC paralegals has meant firms are less keen to hire candidates with an IANG visa, unless it has been recently renewed, and prefer local candidates with Mandarin language skills. As with our last survey, we can still report the overall demand for Mandarin language skills remains and we see no indication that this will change. We are finding that firms are needing to be more flexible when it comes to interviewing candidates by being open to candidates from different practice areas, or at a more junior level with some even looking at fresh graduates or candidates from in-house space. The only other trend of note is that we have seen a number of paralegals in offshore firms with over 2 years of experience promoted to a legal manager role. In 2018 we expect salaries to remain relatively stable, with year on year increments in line with the past few years. Recent graduates will be paid around HK$20k-22k per month for international law firms and experienced candidates are likely to be offered $50k per month or more. Legal Secretary In private practice, legal secretaries, legal executives and paralegals in corporate practice (including IPO) and litigation are in high demand, and this looks set to continue into It should be noted that these are mostly replacement roles as many firms are looking to streamline resources through restructuring and are not creating new headcount as a result. Candidates with three to five years of solid support experience are finding they can easily transition firms, and are moving from one restructured team to another. To keep salaries from growing exponentially, firms are more open to candidates that come from the lower paid local law firms, as opposed to those with international backgrounds. The result is some salary increases, but not at the high levels we normally see with this level of market movement. Hong Kong Human Resources & Corporate Services Salary Survey

4 Office Manager We have seen replacement and newly created roles, predominantly in mid-size firms. Law firms are looking for personalities that fit with their culture and the ability to lead as well as full function and law society experience. In 2017, candidates were looking to make a move due to a number of factors including instability resulting from M&As and a contraction of corporate and litigation teams in the market. There has also been evidence that more and more candidates are looking for a change in working hours or to expand their experience by seeking roles that have an HR focus. Salary levels will remain stable in 2018, with full function office manager roles being paid the highest compared with general admin/ operation focused office managers. Receptionist There has been steady turnover in receptionist roles in law firms, with the lack of opportunity or a desired move into secretarial or administration roles being the main factors candidates cite when they vacate a role. Salary levels remain at the HK$18k-23k mark with little expected movement over the coming year. Administration Assistant New and replacement roles regularly become available and there is no evidence that this will change in Salary levels will remain in the HK$20k-30k range with perhaps some annual increments at levels that are normal for the last few years. Firms are predominantly looking for personalities that fit into teams along with English, Mandarin (basic) and Cantonese language and, depending on seniority, industry experience is always a plus. Translator Translator roles in Hong Kong can be very well paid at the mid to senior level, and salaries for those with over 3 years of experience can rise very quickly, often to around HK$62k for 10 years of experience. In exchange, law firm s requirements are quite rigid. Translation degrees, law firm experience and exposure to all practice areas are a must. Salary levels at the junior level are more stable and range between HK$18k-23k, with only small increments expected year on year. In-House Legal Financial Services smaller asset management firms which sought well rounded legal support to work with counsel but also increasingly on compliance matters. Junior candidates looking for exposure to compliance work have been able to find roles in financial services that can give them that experience. We have seen some evidence that candidates with legal experience are actively seeking pure compliance roles as they see the opportunity for future development in an expanding area. There has been replacement hiring in financial institutions, but the market is tough and there is pressure to attract staff from an already limited talent pool. Legal teams in financial institutions are quite lean, so finding someone that fits is challenging, especially when the perception from ambitious candidates is future opportunities are limited. Commerce In-house commerce roles have evolved over the past year, and new headcounts have been created for hybrid candidates with legal support experience plus company secretary exposure. Mid-size firms with lean legal departments are looking for all rounders, with 5-8 years of experience so again, the pool is limited and firms need to ensure the hiring process moves smoothly and quickly to secure the right person once they have been found. Outlook As we move into 2018, we are seeing that companies are looking more to hire personnel that they can train or mould to fit their existing company culture. Smaller teams are placing importance on personal attributes that will fit in with the existing team members, in addition to the requisite technical ability. As competition is likely to intensify as HR and support roles become more diverse, companies will need to demonstrate internal mobility opportunities to attract talent especially when in competition for specific skills or experience. Firms have proved willing to pay a higher premium for the right candidate, or to attract them to a newly created role or firm, although we do not expect to see any unusual or excessive increases in levels. Companies also need and are willing to be more flexible with their budgets to pay for HR IT specialists and other hybrid roles, with external hiring costing more. Bonuses will remain stable in 2018 with many firms offering a 13 month pay scale and others offering a discretionary pay out of between 1 and 3 months. In 2017 we saw an active market with replacement and new headcount hiring. New headcount was mostly created in the Hong Kong Human Resources & Corporate Services Salary Survey

5 Salary Scales Human Resources (HR) HR Specialist Years of Experience Annual Salary (HKD) Learning & Development Assistant/ Officer , ,000 Assistant Learning & Development Manager , ,000 Learning & Development Manager/Senior Manager , ,000 (Regional) Head of Learning & Development ,000+ Payroll Assistant/Officer , ,000 Assistant Compensation and Benefits Manager , ,000 Compensation and Benefits Manager/Senior Manager , ,000 (Regional) Head of Compensation and Benefits 11+ 1,100,000+ Recruitment Specialist/In-House Recruiter (Junior Level) , ,000 Talent Acquisition Specialist (Mid Level) , ,000 HR Business Partner , ,000 Head of Talent Acquisition 11+ 1,150,000+ Human Resources (HR) HR Generalist Years of Experience Annual Salary (HKD) HR Officer/Assistant , ,000 HR Associate/Assistant Manager , ,000 HR Manager/Senior Manager , ,000 HR Director/Head 11+ 1,000,000+ In-House Legal Support/Paralegal (With Legal Qualification) Paralegal/Legal Executive , ,000 Assistant Legal Manager , ,000 Legal Manager , Hong Kong Human Resources & Corporate Services Salary Survey

6 Legal Support (Without Legal Qualification) Junior Legal Executive/Junior Legal Secretary , ,000 Legal Executive/Legal Secretary , ,000 Senior Legal Executive/Senior Legal Secretary ,000+ Business Development (Private Practice) BD Executive/Coordinator , ,000 BD Manager/Senior Manager , ,000 Head of BD 11+ 1,000,000+ Company Secretary (Listed Company) Company Secretarial Officer/Assistant , ,000 Assistant Company Secretary/Manager , ,000 Company Secretary/Senior Manager ,000+ Company Secretary (Private Company) Company Secretarial Officer/Assistant , ,000 Manager/Assistant Manager , ,000 Team Lead/Department Head ,000+ In-House Corporate Support Administrator , ,000 Assistant Office Manager , ,000 Office Manager , ,000 Secretary/Executive Assistant (Junior) , ,000 Secretary/Executive Assistant (Mid Level) , ,000 Secretary/Executive Assistant (Senior) , Hong Kong Human Resources & Corporate Services Salary Survey

7 CONTACTS Ee Vonne Ong Senior Consultant Human Resources & Corporate Services Hong Kong, Asia Pacific Ee Vonne is a Senior Consultant with the Human Resources and Corporate Services team based in Hong Kong. She works with clients in commerce, private practice law firms and financial services companies. She recruits for roles of all levels, and works with the region s leading professionals. Prior to joining Aquis Search, Ee Vonne worked for a leading search firm based in Taipei and for a Fortune 500 financial services company where she gained first hand an understanding of the processes, organization and staff training programs of large, global financial institutions. Ee Vonne has a Master s degree in Social and Cultural Psychology from the London School of Economics and a Bachelor s degree in Economics from the University of Warwick. She speaks English and Mandarin. Hong Kong Human Resources & Corporate Services Salary Survey

8 About Aquis Search Aquis Search is a leading regional executive search firm specialising in the corporate affairs, compliance, finance & accounting, human resources & corporate services, investment management, legal, risk management and technology sectors across Asia. We offer clients executive search, research & advisory, search & selection and contract & payroll services. Our clients are members of a global network of prestigious financial institutions, leading UK and US law firms, regional market leaders and Fortune 500 organisations. Clients recruitment briefs are successfully met by our team of experienced, multilingual consultants. Professional integrity is the key value on which our client relationships are built and the majority of our business is from personal referral. This is a testament to the high level of professionalism for which we are known. Aquis Search was established in Hong Kong in Today we operate offices in Beijing, Delhi, Hong Kong, London, Mumbai, Shanghai, Singapore and Taipei. For further information please contact Aquis Search below or info@aquissearch.com Beijing Level 15, Yintai Office Tower, 2 Jianguomenwai Avenue, Chaoyang District, Beijing, China Delhi Suite 422, Level 4, Rectangle 1, Commercial Complex D-4, Saket, New Delhi , India Hong Kong 19/F, Kailey Tower, 16 Stanley Street, Central, Hong Kong London Long Lane, London, UK, EC1A 9ET Mumbai 315, 3rd Floor, C-Wing, 215 Atrium, Andheri-Kurla Road, Andheri (East), Mumbai Shanghai Room 5, 42/F, No.1717 Wheelock Square, Nanjing West Road, Shanghai , China Singapore 11 Collyer Quay, #09-05/06, The Arcade, Singapore Taipei 37F Taipei 101 Tower, No.7, Sec. 5 Xinyi Road, Taipei 11049, Taiwan Hong Kong Human Resources & Corporate Services Salary Survey