Published on 5th April 2017
Overall confidence in Technology hiring has been steadily rising throughout the first quarter of 2017, and we observed an increased level of recruitment activity versus the second half of last year. Organisations appeared keen to continue making the development of Technology teams as a key focus for 2017.
In Q1 2017, companies were looking to hire for both replacement and new roles in hot areas of Technology talent. Many wide trends that we saw in 2016 have been prevalent so far this year.
Greater demand for Data Analytics and Big Data pros
Throughout the first few months of 2017, we have seen a greater demand for Data Analytics and Big Data professionals. As the role of Data Scientist becomes more widespread, professionals with ETL (Extract-Transfer-Load) experience in Python, R, and SAS continued to be highly pursued by businesses.
Cyber-Security / IT security has also been a hot area in Q1 2017, with the majority of banks and multinational corporations looking to shore up their IT Security and IT Risk Management practices. Cyber Security experts continued to be highly valued and companies faced intense competition to recruit these top-notch professionals.
Fintech continued to soar
Fintech continued to be the ‘buzz-word’ in Q1 2017. We were seeing businesses actively seeking to increase efficiency and gain a competitive edge through the implementation of a financial system. Demand for high-calibre Project Managers and Business Analysts remained strong for Fintech. With disruptive technologies changing the way businesses operate around the world and with the emerging start-up ecosystem in Hong Kong, we expect Fintech talent demand to only increase in 2017.
There was also a hiring priority for Digital professionals such as Mobile Applications Developers, Digital Marketers, Content Managers, Social Media Managers, Data Analytic Specialists, e-Commerce Managers and SEO / SEM experts.
Q2 2017 will be an exciting time for Technology hiring
As bonuses get paid, we expect to see an increased talent pool and an overall positive sentiment across the Technology job market in the second quarter of 2017. Demand for Software Engineers will continue, with mobile and disruptive technologies as well as advancements in Artificial Intelligence (AI) changing the way businesses operate. Technology professionals with consummate skill sets in iOS, Android, C++, and Java will be highly sought after. We also expect a high demand for UX / UI expertise in enhancing user experience.
Cyber-Security / IT Security / IT Risk Management hiring will continue to rise, along with the demand for e-Discovery / Computer Forensics experts. There will be a significant growth in the IT contracting market, especially across Financial Services, as organisations look to reduce risk, minimise headcount and secure short-term workforce for technology and business transformation projects.
The long-term view for Technology talent
In the long run, we expect a greater demand for ‘Innovation’ professionals in Hong Kong. Whilst intrinsically linked to technological developments, a ‘Head of Innovation’ role demands a deep understanding of existing and future trends in specific industry sectors, and hence this type of role exists to focus purely on driving innovations. These are people who will be trend-spotters and technology drivers for their companies to stay in the forefront of their respective industries.
There will also be a continuing demand for experienced Project Managers and Business Analysts, especially within Fintech, one of the hottest sectors in Hong Kong, in order to deliver large-scale projects that meet time and budget considerations.
Salary Report for Q2 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.