Salary, bonuses to rise
Jessy Wong, Senior Manager, Michael Page Financial Services in Hong Kong
Private banking and insurance companies are most in demand of financial services talent in Hong Kong. These industries have experienced robust growth in the last two years and this is continuing. The city is seen as one of the world's premier financial services centres, Asia's largest private banking and insurance market, positioned in Asia-Pacific as the globe's fastest-growing wealth management market.
To secure new talent, average percentage pay-rise for most financial services professionals will likely range from 12 to 20 per cent, depending on company performance and individual skill sets. Professionals in several insurance firms are likely to be offered average salary rises of 20 per cent. Top performers are set to be offered bonuses in the next 12 months. These will vary greatly depending on job type and performance of the firm and individual. Employers will offer international rotation plans, career development chances, competitive remuneration packages and better work-life balance initiatives.