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No major slowdown is expected for the Chinese job market this year, according to the latest Kelly Services 2013 Salary Guide which outlines salary trends in key industries and functions across the Greater China.
The survey, which offers insights into sectors such as accounting, banking, HR and IT, found that companies are keen to expand this year.
“We are happy to report that in spite of some concerns, we are not seeing any significant slowdown in the China labor market,” said Nick Lesser from Kelly Services.
“In fact, we are finding that in addition to steady demand for resources in tier one cities such as Beijing, Shanghai and Guangzhou, clients are expressing increased interest in expanding their operations all around China.”
The salary ranges are based on actual transactions between employers and employees, and represent an accurate reflection of the marketplace.
Among the key findings of the survey are the following:
Accounting & finance – As the growth of merger & acquisition activity, financial analysts, tax managers, GL accountants, due diligence analysts and CFO will all be in high demand.
Automotive – The positive trends of the US automotive industry will have a positive effect on the Chinese market. China’s automotive industry expansion should be steadier than in previous years and is estimated to grow throughout 2013 at about 8-10%. Despite the many new plants being set up in the West of China, R&D, sales, and plant operational positions, are in much less demand compared with last year.
Banking & financial services – Foreign banks and financial institutions continue to see China as a current investment destination to secure future growth and market share. Candidates with overseas experience across the financial sector will continue to be in demand in 2013.
Chemical – The chemical industry is not experiencing major changes compared to 2012. The business development roles and operations roles in chemical plants, as well as R&D positions, will stay in high demand.
Healthcare & life science – The healthcare industry in China is one of the sectors that best withstood the global downturn because of government policy, plus an increase in population size and wealth. Sales and marketing, research and development, and regulatory affairs roles will be the “hot” jobs.
Human resources – Professional HR candidates with proven experience across all functions are in demand. The strategic HR/business partner will continue to be the highest profile position in the industry. Candidates who changed positions received a 20-30% increase in salary and the average increase for candidates remaining with their firms was just over 10%.
Industrial & manufacturing – Due to a soft global economy, salary trends were slightly lower than in other areas of the economy. The key to growth in manufacturing is the return to a healthy global economy; many local and foreign firms have been growing their internal China market to help balance the difficulties they face internationally. Sales and marketing positions are the “hot” jobs in this year.
Information technology & telecom – The IT industry is expected to face a shortage of 2-5 million workers in the next ten years, although some company's hiring plans will be frozen in 2013 because of the economic downturn. 3G platform, IOS and e-commerce positions should continue to be in demand.