2010
Over 70% of HR Managers in China expect to grow headcount during the second half 2010. In Hong Kong the figure is around 60%. Singapore continues to improve with hiring sentiment significantly stronger than 2 years ago on the back of a strong economic rebound.
4th Qtr. 2009
KEY FINDINGS
The total number of executive job placements increased by 23% compared with 4th
Qtr. 2008.
China showed the highest growth with +28%. Hong Kong and Singapore grew at circa
15%. Thailand and Malaysia grew by circa 10% with Japan lagging behind.
Many corporations admitted that they had cut staff too aggressively in late 2008
and were now rehiring. Stock market and property gains in Hong Kong and China
improved sentiment while similar factors in China led to fears of a bubble.
Sectors displaying strong upward movement included Retail, Technology, FMCG, Financial and Professional Services, Industrial Products and Chemicals.
2008
Asia Job Search Survey Sept. 2008 - Managers in Hong Kong enjoy the highest spending power in Asia and the highest among executives worldwide outside the Middle East.
Hong Kong came in fourth overall while in other Asian countries, executives in Thailand ranked 10th in global spending power, followed by those in China at 17th, Singapore at 22nd, Malaysia at 24th, South Korea at 35th and Japan at 39th.
The rankings were calculated on a US baseline score of 100. Hong Kong scored 199.6 while Thailand scored 162, China 145, Singapore 141.3, Malaysia 133.9, South Korea 108.6 and Japan 106.
The top three places were taken by Qatar with a score of 241.7, the United Arab Emirates at 218.2 and Saudi Arabia at 210.1. Oman (6) and Kuwait (7) were also in the top 10.
Senior managers in Hong Kong dominate the disposable income rankings in Asia with spending power almost double that of their US counterparts.
This international trade and finance centre traditionally enjoys the highest pay - about a quarter more than other Asian countries - coupled with low taxes," it added. "Thailand, China, Singapore and Malaysia also fall into the top half of the rankings while the more developed economies of South Korea and Japan line up with their counterparts from Western Europe and North America.
Of Asian countries, the lowest score of 82.1 went to Indonesia.
Executive Hiring In Asia To Accelerate In 2008
Hiring by multinationals in major Asian markets is likely to accelerate in 2008 particularly in China and Japan.
Booming Economic growth has led to a shortage of executives in Asia. This has lead to pay demands reaching +20% in some sectors. Over 60% of multinationals across the region expect to hire new managers in early 2008.
2007
4TH QTR.
Executive salaries across the Middle East have risen by almost 10% in 2007. Fuelled by record oil prices and booming economies the demand for expatriates has strengthened. Further pressure on executive remunerations is due to employees seeking to move away from salary packages denominated in US$ for fear of further weakening. A rise in packages denominated in Pounds and Euros has been reported.
2ND QTR.
CEOs Remuneration
Chief executive officers in South Korea emerged
as the highest paid in the Asia-Pacific region followed by their Hong Kong
counterparts, a recent survey found.
The average base salary for CEOs in South Korea amounts to 384,123 US dollars.
Cash compensation including bonuses and other payments adds another 568,502 US
dollars on average.
CEOs in Hong Kong receive 250,707 dollars in average base pay and 352,520 US
dollars in average annual total cash, making them the second-highest paid in the
region.
Coming after South Korea and Hong Kong, chief executives in Singapore earn an
average of 239,866 US dollars in annual base salary, but their total can be
nearly double that amount, the survey found.
Compared with Taiwan, CEOs in Singapore are paid more than double what their
counterparts earn, 114,914 US dollars in average base pay and 131,834 US dollars
in direct cash on average.
In contrast, CEOs in fast-rising India are among the lowest paid with an average
base salary of 89,759 US dollars and annual total cash of 111,510 US dollars on
average.
In the Philippines, CEOs receive an average base salary of 44,496 US dollars and
51,519 in annual cash on average, about half what CEOs in Indonesia are paid.
2006
In the major expatriate job markets of Hong Kong, Singapore, Japan and China we are seeing the strongest market conditions in some sectors for 7 years. Japan in particular has seen a strong executive employment and search rebound with almost 70% of corporations planning to increase executive hiring levels. Salary levels are rising rapidly with many corporations finding it difficult to match terms demanded by candidates, many of whom, are turning down offers and awaiting higher ones. The following sectors are particularly strong;
China Pharma, Biotech, Banking, Manufacturing, Legal, Accounting.
Japan Banking, Insurance, Technology, Pharma, Retail.
Hong Kong Banking, Legal, Accounting, Advertising, Manufacturing
Singapore Energy, Media, Transportation, Banking, FMCG
Across all countries demand for Sales and Marketing, Business Development and General Management executives is at all time highs. IT and Financial staff also very much in demand as corporations gear up for expansion.
Demand is placing a strain on wage inflation with some corporations reporting annual salary increases of as much as 15% way ahead of general inflation.
In the smaller markets executive search is more subdued. Political concerns in Thailand have dampened the economy. However, although lagging the larger markets demand for executive jobs is still up on 2005.
2005
As economies have strengthened corporations are reporting difficulties in hiring and retaining key executive staff. This has put pressure on executive salary levels with a majority of companies expecting to raise salaries ahead of inflation in 2006. Growth in executive employment is strongest for many years in Hong Kong and difficulties for employers are compounded by losing key staff to attractive expatriate positions in Shanghai. Japan continues to strengthen and we have seen an increase in expatriate staff looking to move back to Tokyo. Thailand and in particular Bangkok are much sought after for expatriate jobs as executives are hired in Real Estate, Tourism, Financial Services and Consumer Products sectors.
2004
HONG KONG
The economy continued its strong improvement during 2004 and there was a significant rebound in the real estate/construction/engineering sectors. Over 50% of employers anticipate strong continued growth in the employment market, while less than 5% expect the executive employment situation to decrease.
IT & Telecommunications sectors hired strongly in the Sales, Marketing and Business Development functions. Capital markets, venture capital and mergers & acquisitions saw headcount increases which spilled over into Legal, Accounting and Consulting professions.
Pharmaceutical, FMCG and Retail sectors were active as increase in demand led to an increase in hiring. Overall the best executive job market for several years.
SINGAPORE
2004 was a very good year for executive job searchers. Far more vacancies were created than in prior years and in some sectors there is a shortage of good candidates. The technology sector continued to grow and absorbed some very senior expatriate managers. Banking, both Personal and Corporate, had a good year as did equities and trading. Manufacturing particularly in the Electronics sector rebounded strongly.
2003
Tourism and Retail sectors have been hit hard by recent events. However tentative signs of recovery are evident as of June. Demand for expatriates in China still strong. Economy in Thailand showing good growth and construction activity is recommencing after several years of inactivity. Hong Kong after many set-backs will likely rebound later in the year. A similar picture in Singapore where post SARS the outlook is for improvement albeit gradual. The key to a job search in Asia is an extensive marketing campaign. As the table of jobs below shows, the rewards can be worthwhile.
2nd Quarter 2002
Job search asia - As we detailed below the unemployment level in Hong Kong continued to rise and at November 2002 stood at 7.4%. Financial services remain weak and this weighs heavily on a city economy that is heavily dependent on the sector. Construction remains flat as land sales are halted. An executive job search in asia now requires intensive marketing and specialist advice.
Recent surveys have uncovered a degree of optimism not seen for several quarters. In Singapore 34% of corporations intended to increase executive hiring while only 5% expected a decrease. In Hong Kong the figures were 25% and 9% respectively. These figures represent a strong rise in confidence over the past 3 quarters. The reasons cited include the improving economic conditions across Asia and the heavy restructuring that took place during 2000/2001. Some companies have been left a little thin at the top and must now recruit to manage the upturn in business. However, this will take some time to show up in the unemployment figures and Hong Kong with a rate of almost 6% in September 2002 could rise as high as 7%.
1st Quarter 2002
Unemployment figures worsened as economies contracted. Hong Kong figures weakened to a record 6.8% in March 2002 and Singapore also slowed. Bright spots were Thailand and Seoul where economic strengthening led by export growth has stimulated executive demand. Executive job searches in Asia now require considerable self marketing and professional assistance.