China Salary Guide 2015 aims to provide employers and jobseekers alike with a comparative overview of salaries throughout China. This guide spans across to present a comprehensive review on the changes discovered in salary patterns within diverse fields of accounting, HR, banking and finance, Information technology, Sales and Marketing, Life Sciences, Supply chain and logistics, and engineering segment in China.
“The year 2015 is likely to turn out to be a reasonably good period for skilled professionals,” says Ms. Joyce Jing, General Manager of ZW HR Consulting. “The average salary bands for professionals are up by 10% for 2014/15 as compared to 2013/14 figures; the potential for HR to influence and drive business strategy has never been stronger. Employers have realized they need to invest more in stronger and more versatile HR professionals.”
ZW HR Consulting, one of Asia’s most recognized headhunting firms and the longest standing recruitment firm in China highlights key salary trends in 2015 for HR professionals. These include:
- Shortage of skilled talent and workforce has led employers to scramble, while demand for HR professionals with specific key capabilities continues to increase.
- Annual Increase in pay from 5-10%to as high as 35% across sectors
- More companies searching internally for talent, with internal mobility on the rise
- Candidatesare increasingly making career moves to gain career progression and higher salaries
- IT salaries continuing to show a steady increase, with average salaries growing in the region of 5%-10%.
- Due to the value added services that HR Professionals are bringing to business, HR salaries are on the rise. This is a direct result of the short-to-long-term cost savings processes being implemented by HR in order to streamline processes and becoming more efficient
- Demand for mechanical and technical engineers has risen due to the growth in the aerospace sector and implementation of additional R&D centers throughout China in key sectors
“Against the backdrop of what we’re calling a talent scarcity across China, experienced, skilled professionals can expect to see salary hikes. Indeed, employers will have to consider increasing salaries in order to keep pace with inflation, to attract the right talent, and to retain their critical workforce,” adds Frank Yu, Chairman – ZW HR Consulting.
This comprehensive salary guide for China aims to help organisations and talented professionals gain a better understanding of the current state of wage pressures, while presenting an accurate and transparent contextual comparison for mainland China and its key sectors.
The salary ranges signify actual transactions between employers and employees, therefore best reflecting the Chinese marketplace. China is now seeing a huge demand for skilled talent in IT and life sciences industry, as MNCs and large local firms continue to aggressively expand their presence and reach in the Chinese markets.
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