Finance & Accounting Trends in HK 2016
With the unemployment rate stays at 3.3% in Hong Kong for Q1 2016, recruitment in Finance and Accounting area remains quite steady in 2016; yet with some mid-scale asset management and private equity firms and insurance companies we see a more active hiring trend in particular areas while Investment Banks still remain cautious. And the need for contracting positions will expect an increase due to economic uncertainty.
On the commerce side, Consumer retail slows down since last year and it is still experiencing a hit due to the shaky China economy. The need of hiring is mainly driven by Healthcare, Property and Construction companies where growth is significant both locally and globally.
Demand in senior finance professionals is still low while movement in middle movement is more active. Employers are looking for business partners more than pure technical support; hence talent with strong people, project and influencing skills continues to be sought after.
The need for credit risk professionals is increasing due to the non-performing loans experiencing from the Chinese banks; as well as Internal audit professionals with specific product knowledge remains in high demand.
Salary and remuneration
Basic salaries in Banks and Financial Services will remain flat while those in commerce is similar to inflation rate around 4 -5%; bonus is around one to three months depending on performance and seniority of the position. However, for critical positions or positions in great demand, i.e. Risk, Internal Audit, Tax, Analysis, the increment would be more significant (15% - 25%) when candidates change jobs.