How much professionals in Hong Kong are set to earn in 2016

Despite the markets having to navigate some fairly choppy waters, hiring across the Hong Kong market remains stable according to Morgan McKinley's 2016 Salary Guide Hong Kong.

"Whilst volatility is to be expected, smart employers see the benefit of investing in a strong and capable workforce to address the economic uncertainty. By assembling a skilled and highly motivated team, businesses seem to be prepared to seek out growth, and allow the choppy waters of the markets to be navigated safely," explained Richie Holliday, chief operations officer, Asia-Pacific, Morgan McKinley.

"As a result, salaries have not been radically changing, and in some areas – despite the general lack of longer-term confidence – we have seen increases in salary and compensation levels," Holliday added.

The HR sector is one the areas that is expected to experience growth despite the market experiencing downturn.

Professionals in the talent and organisational development are generally highly sought-after and might achieve salary increments of up to 20%.

The guide also predicts the HR function to get more diverse.

Typically female dominated disciplines, HR departments of multinationals, particularly in the banking industry, are looking to make their workforce more diverse.

"Diversity is a growing topic in these firms and whilst they will look to hire the best candidates in the market for the job, more efforts are being put in place to consider and encourage more men in to the discipline to better balance the gender mix," Holliday said.

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HR has evolved significantly within the talent acquisition space too.

In a number of multinational businesses in Asia, HR divisions are moving the in-house recruitment function to use either: a recruitment process outsourcing (RPO) or a managed service outsourcing (MSP) model for cost saving purposes.

Furthermore, banks continue to offshore operational HR teams in order to reduce costs.

There has also been an increase in China-based firms acquiring businesses globally. These firms are using Hong Kong as a key hub as their global headquarters. This has, as a result, created HR director level opportunities with a global remit.

"Such China firms require professionals with mergers and acquisitions, as well as HR transformation project experience. They will also look for professionals with international HR experience, and professionals with a strong understanding of the Chinese culture and fluency in Mandarin are essential. Additionally this has presented more mobility opportunities for locally based candidates to gain experience working outside of the Asia region," Holliday said.

Salaries (per month in HKD) for permanent roles major sectors in Hong Kong:

Human resourcesHR Director: $76k - $120kTalent Acquisition Head $76k+Talent Acquisition Manager $43k - $76kTalent Acqusition Specialist $23k - $43kOrganisational Development Head $76k - $120kLearning & Development Training Manager $43k - $63kLearning & Development Assistant Training Manager $32k - $43kLearning & Development Senior Officer $28k - $40kLearning & Development Officer $16k - $28kCompensation and Benefits Director $70k - $90kCompensation and Benefits Manager $40k - $70kCompensation and Benefits Assistant Manager $28k - $40kCompensation and Benefits Specialist $21k - $28k

Banking and financial servicesVP corporate finance : $130k - $185kDirector corporate finance: $160k - $225kManaging director corporate finance: $250k+Managing director private banking: $160k+

Finance and accountingChief financial officer: $90k - $150k+Finance director: $80k - $120kFinancial controller: $85k - $100kFinance manager: $65k - $85kFinancial analyst: $65k - $85k

ITMobile application programmer: $65k - $75kIT manager: $65k - $75kProject manager: $65k - $75kBusiness analyst: $60k - $70kData Center Manager: $55k - $65k

Office supportOffice manager $25k - $50kExecutive assistant (to senior management) $35k - $45kPersonal assistant $25k - $45kTeam secretary $18k - $35kSenior administrator $18k - $30k

Sales and marketingGeneral manager - - $100k - $150kManaging director - - $120k- $180kAccount Management (Agency): $60k - $80k+Business development manager: $35k - $45k

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