F&A Q3

Finance & Accounting Market Insights Q3 2017

Published on 19th July 2017

In Q2 2017, the Finance & Accounting job market in Hong Kong has seen an increase in hiring activity at the junior to mid-level positions for Assistant Accountants, Accountants, Financial Analysts and Internal Auditors.  

Compared to the previous quarter, in Q2, professionals qualified for these profiles would find themselves with many job options. The turnaround time from interview to offer stage was also relatively faster. Most of these job opportunities were either replacement roles seeking qualified professionals or professionals who were working towards becoming qualified.

In terms of salary increments, the increment percentages have remained similar as with previous quarters. Companies have been offering non-financial benefits to attract and retain candidates.

Specialist finance roles were in demand

We saw an active hiring trend for specialist roles such as Billing and Revenue Controllers, positions often found in the legal sector.

SMEs and start-ups also had an accelerated demand for well-rounded Finance Managers. The mid- to senior-level market had newly created headcounts in Financial Planning & Analysis, especially within the Retail industry. Companies would often open up these positions to both internal and external talent pools.

In Q2, hiring has been active for Internal Audit or Internal Control professionals within the FMCG, Retail and Property Development sectors.

Talent acquisition for senior roles was conservative

In the past few months, there was little movement in multinationals hiring senior professionals at the Finance Director and CFO levels.

Companies that were seeking senior talent were typically Hong Kong or PRC-based ones looking for professionals with strong Corporate Finance experience. 

Q3 2017: Growing start-ups will seek solid finance expertise

For Q3 2017, we expect similar hiring trends to continue, with a healthy hiring demand for junior- to mid-level finance professionals.  With start-ups establishing and gaining a foothold in Hong Kong, we foresee that they will be seeking for solid finance professionals to join their businesses. 

We expect interview processes to become lengthy, especially for the more senior-level roles in the market, as companies and hiring managers will want to ensure that they are bringing in the best talent into the business. We also expect talent acquisition to include, before making any external hire decisions, the consideration of internal candidates—existing employees from both local and overseas offices.

Finance & Accounting Services
Salary Report for Q3 2017*

Job title Years of experience Annual salary range (HK$)
Audit / Internal Control  
Head of Audit  1215 1.2M1.8M
Senior Audit Manager  8–12 720K–1M
Internal Audit Manager  5 540K850K
Internal Auditor  3–5  300K–520K

Financial Accounting
CFO  15+  1.5M–2.5M+
Finance Director  1215  1.0M 1.6M
Regional Financial Controller  10–12 800K–1.2M
Financial Controller  810  720K850M
Finance / Accounting Manager  6–10  480K–660K
Financial Accountant  36 270K420K
Accounts Payable / Accounts Receivable Accountant  Up to 8 years  144K–348K 

Management Accounting
Manager 8–10  540K–660K
Senior Management Accountant  68 450K540K
Management Accountant  3–5  300K–450K 

Financial Planning & Analysis
Head of Financial Planning & Analysis  10–12  900K–1.4M
Financial Planning & Analysis Manager 810  580K720K
Senior Financial Analyst  6–8  480K–580K
Financial Analyst  3 312K480K

Tax
Vice President / Head of Tax  12+  900K1.6M
Tax Manager  8–12 540K–900K
Tax Accountant  3 300K480K

Treasury
Head of Treasury  1012  800K1.6M
Treasury Manager  8–10  540K–800K
Treasury Accountant  48 240K540K

Corporate Finance
Corporate Finance Director 1215 1.2M1.8M
Corporate Finance Manager 8–10  600K–850K
Investor Relations Director 1012 900K1.4M
Investor Relations Manager 8–10 550K–850K

 

*Notes about salary table:

  1. Titles and levels vary from organisation to organisation.
  2. The salary ranges given are only approximate guides. For tailored salary advice, please contact us directly.
  3. 12-month base salaries are assumed.
  4. All other benefits and bonuses are in addition to these figures.
  5. 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.
  6. Holiday entitlements range from 1225 days with senior executives not usually receiving less than 18 days. Less than 15 is very rare and 20 days is becoming the norm.
  7. Healthcare policies are standard.
  8. Pension plans vary with some companies offering greater than the standard contribution. Top up schemes can increase employer contribution levels as much as 1520% of the base salary for senior executives.