Published on 18th January 2017
Quarter 4 of 2016 has seen an increase in hiring activity in the Finance & Accounting employment market. We saw many open positions being hired in organisations ranging from Hong Kong-listed conglomerates, multinationals to private companies, with most of the roles being replacement positions.
We also saw a slight upswing in demand for qualified accountants with approximately 5 years of experience for example with roles such as Financial Analysts and Management Accountants. Newly-qualified accounting professionals from Audit firms have also found themselves with career opportunities in the latter half of 2016.
There has also been hiring activity across areas such as Corporate Finance, Treasury, IT Audit, Payroll, Pricing / Costing and System Finance in 2016. Qualified professionals in these areas are often in short supply and hiring managers often need to spend an increased amount of time and effort to identify the right candidates for these roles.
Experienced finance professionals who are willing to be stationed in PRC have also been highly sought after throughout 2016, especially by companies in the Manufacturing and Property Development sectors.
Other industry sectors where we have seen strong hiring activity for finance and accounting professionals include IT&T, FMCG, Property, Manufacturing and Professional Services.
Soft skills are just as important as accounting qualifications and skills
Organisations look at a number of different criteria when hiring accounting and finance professionals. Besides a focus on qualifications & accounting skills, organisations often prefer professionals with a stable and progressive career history, strong communication and interpersonal skills as well as finding individuals who have a genuine interest and passions for the industry of the company they are joining.
On the other hand, from a career seeker perspective, especially for junior to mid-level professionals, we saw an increased focus on company culture, career development and work-life balance as part of the selection criteria for an ideal workplace.
Outlook in the months ahead
As we enter the first quarter of 2017, we expect to the employment market for finance and accounting professionals to remain healthy. We would expect to see an increase in hiring activity immediately after the Chinese New Year period and we foresee the majority of hiring for finance and accounting professionals to be for replacement hires versus new roles.
Finance & Accounting Services
Salary Report for Q1 2017*
*Notes about salary table:
- Titles and levels vary from organisation to organisation.
- The salary ranges given are only approximate guides. For tailored salary advice, please contact us directly.
- 12-month base salaries are assumed.
- All other benefits and bonuses are in addition to these figures.
- Bonus ranges can vary significantly from company to company and will be influenced by market conditions, business and individual performances. Bonus ranges from 1 month at the low end to 100%+ at the upper.
- Holiday entitlements range from 12–25 days with senior executives not usually receiving less than 18 days. Less than 15 is very rare and 20 days is becoming the norm.
- Healthcare policies are standard.
- Pension plans vary with some companies offering greater than the standard contribution. Top up schemes can increase employer contribution levels as much as 15–20% of the base salary for senior executives.