Job Seeker Advertiser
Email:
Password:

Register now!
Forgot your password?
 
 
 
Talent Management 2019
Action Now!!!
Talent Management Magazine Summer 2022
In this issue, HR professionals and senior management from various well-known companies across a wide range of industries share their successful initiatives and unique insights on learning and development in talent engagement. All of them are awardees of The Employer of Choice Award 2021, organized by JobMarket, as prestigious acknowledgement of their outstanding employee development strategies and practices, setting important milestones for the entire HR industry.

Don't miss to read the latest issue for FREE!
 
HR Trend
5% Salary Increase and 7.6 Months of Bonus Set for Financial Services in 2018

15 Nov 2017

HONG KONG, Nov. 15, 2017 /PRNewswire/ -- Financial services employees in Hong Kong can expect their salaries to increase by 5% and performance bonus is equivalent to 7.6 months of salaries due to buoyant markets, according to independent management consulting firm, Pretium Partners Asia Limited ("Pretium").

Pretium Year-end Rewards and Human Resource Trends Survey - 2017 ("Survey")  examined changes in salary increase, bonus levels and payout ratios, business performance, headcount changes and staff mix ratios as well as top priorities for HR to be a game changer among financial institutions. It covers 70 international, regional and local investment banks, commercial banks, asset management and private equities firms with multiple offices in Asia. Key findings of the survey are as follows:

Business Performance in 2017, Projected Salary Increase and Bonus Payout in 2018

Financial services industry is planning to increase salaries by 5% in Hong Kong and 6.5% in Mainland China in 2018, comparing to 4.2% and 5% respectively in 2017. Singapore is set to increase salaries by 3.9%, comparing to 3.5% last year due to a return of inflation.

http://www.pretium-asia.com/5-salary-increase-and-76-months-of-bonus-set-for-financial-services-in-2018.html

81.4% of the surveyed firms indicate 2017 firm-wide business performance will be better or significantly better than last year. Investment banking and fixed income will make the biggest revenue contribution. "The increase in H-share listings of Mainland companies and market turnover has led to a surge in both fee and trading income among financial institutions, Chinese firms will outperform their international counterparts as they top the league table," said May Poon, Managing Partner at Pretium.

The overall bonus to be paid in 2018 is projected to be 7.6 months (expressed in monthly salaries), up from 7 months last year. Due to market recovery, senior executives are expected to receive 15 months whereas frontline will get 9 months and corporate functions will get 6 months. "As bonus pools are closely linked to revenue or profit levels, bonus levels in 2018 can be the same if not higher than the 2016 payout," Ms. Poon added.

http://www.pretium-asia.com/5-salary-increase-and-76-months-of-bonus-set-for-financial-services-in-2018.html

Headcount Change and Staff Turnover

60% of the surveyed firms intend to expand headcount in 2018, mainly for Fixed Income, Research and Compliance. The median staff turnover rate in 2017 is 14%, comparing to 12% in 2016, with the Finance department tops the list in staff turnover. "The improved market sentiment has led to increasing investment in new businesses; this drives headcount expansion and more recruitment. With more influx of Chinese financial institutions in Hong Kong and a tight talent supply with the required financial expertise, these will drive up salary and bonus levels to retain talent," Ms. Poon explained.

http://www.pretium-asia.com/5-salary-increase-and-76-months-of-bonus-set-for-financial-services-in-2018.html

About Pretium Year-end Rewards and Human Resource Trends Survey - 2017

The Pretium Year-end Rewards and Human Resource Trends Survey - 2017 examines performance, reward and human resources trends in Asia, including salary increase, bonus levels and payout ratios, business performance, headcount changes and staff mix ratios as well as top priorities for HR to be a game changer among financial institutions. It covers 70 international, regional and local investment banks, asset management and private equities firms with multiple offices in Asia.

About Pretium Partners Asia Limited

Pretium Partners Asia Limited ("Pretium") is an independent management consulting firm that helps accelerate clients' growth and increase profitability through unique spectrum of solutions which include rewards, performance management, benchmarking, organization transformation and integration for mergers & acquisitions.

Logo - http://photos.prnasia.com/prnh/20151203/8521508282



PR Newswire News
More Issues
Youth Square 'YS Digital Content Creator 2024' Guiding Youth to Unlock New Skills and Entering the New Era of Micro-Influence
 
Former NBA Executive Greg Stolt Joins Realeague to Lead Basketball Operations as Senior Vice President
 
iClick Appoints Ms. Josephine Ngai as Chief Financial Officer
 
Youth Square's "Dunhuang Youth Internship Programme 2024" Now Open for Application
 
New Landmark Education Hub in Greater Bay Area Opens - "Pioneering K-12 Education for The Future"


About Us | Contact Us | Site Map | Terms & Conditions | Privacy Statement
Partner:
Customer Service Tel: (852)3181 3833 or email us: enquiry@a-performers.com
A Wholly owned subsidiary of Sing Tao News Corporation Limited