InterSearch China launches China Salary Guide 2015
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Salaries for experienced and skilled employees in china is expected
to rise between 5 – 10 percent this year from a year ago
InterSearch Worldwide, a leading global executive search organization operating in more than 50 countries, has announced that its member firm in China, ZW HR Consulting, has launched its China Salary Guide 2015.
As one of Asia’s most recognized headhunting firms and the longest standing recruitment firm in China, ZW HR Consulting aims to provide employers and jobseekers alike with a comparative overview of salaries throughout China. The Guide is based on recently discovered changes in salary patterns within the diverse fields of accounting, banking & finance, human resources, engineering, IT & technology, life sciences, sales & marketing, and supply chain & logistics – areas in which ZW HR Consulting has built a strong foothold with regard to executive recruitment.
According to ZW HR Consulting, a shortage of workers with both strong technical and business skills has caused employers to scramble, while also increasing the demand for professionals with specific abilities.
Key trends as reported in the Salary Guide for 2015 include:
- Annual increase in pay from 5-10 percent to as high as 35percent across sectors.
- More companies searching internally for talent, with internal mobility on the rise.
- Candidates are 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 salaries.
- 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.
The year 2015 is likely to turn out to be a reasonably good period for skilled professionals. The average salary bands for professionals are up by 10 percent 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.
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. This China Salary Guide will help organizations and talented professionals gain a better understanding of the current state of wage pressures. Our salary guide is an accurate and transparent contextual comparison for mainland China and its key sectors. We are seeing a high demand for IT and life sciences related jobs as MNCs and large local firms continue to aggressively expand their presence in China.
The aim of this guide is to provide you with further insight into the latest salary ranges, calculating for various positions across different industries in China. The salary ranges signify actual transactions between employers and employees, therefore best reflecting the Chinese marketplace.
ZW HR Consulting Pte Ltd is headquartered at 20/F, Huiyin Building, No.758 West Nanjing Road, Shanghai, 200041.