Tal­ents set to raise a toast for raises

China Daily (Canada) - - LIFE - By SHI JING

De­spite the ex­pec­ta­tion of slower GDP growth this year, niche pro­fes­sion­als, es­pe­cially those as­so­ci­ated with dig­i­tal tech­nolo­gies, are very likely to seek salary in­cre­ments in the fol­low­ing months, ac­cord­ing to Mor­gan McKin­ley, a global hir­ing com­pany.

Its 2016 salary sur­vey shows over­all salaries in China’s pri­vate sec­tor will in­crease by 5-8 per­cent on av­er­age this year.

Fi­nance and ac­count­ing pro­fes­sion­als, and those with ex­per­tise in the In­ter­net and e-com­merce are more likely to have a salary in­crease of up to 8 per­cent.

For those who work in the in­for­ma­tion tech­nol­ogy sec­tor, bonuses and share op­tions will likely to be of­fered in com­pen­sa­tion for long work­ing hours in high-pres­sure sit­u­a­tions, ac­cord­ing to the re­port.

“Can­di­dates who stay on top of de­vel­op­ments in their sec­tor and dis­ci­pline, for ex­am­ple IT pro­fes­sion­als who have tran­si­tioned to dig­i­tal and mo­bile plat­forms, will do well in 2016,” said Rio Goh, man­ag­ing di­rec­tor of Mor­gan McKin­ley China.

A 30 per­cent raise will likely be seen among e-com­merce pro­fes­sion­als in the fast mov­ing con­sumer goods sec­tor, as well as bilin­gual tal­ents with ex­pe­ri­ence in dig­i­tal and new me­dia, said Wang Qiang, man­ag­ing di­rec­tor of Robert Wal­ters, an­other lead­ing hir­ing firm.

A dig­i­tal mar­ket­ing man­ager with a cos­met­ics com­pany in Shang­hai, for ex­am­ple, is likely to see his/ her an­nual in­come jump to 550,000 yuan ($83,596) this year from 450,000 in 2015.

An e- com­merce busi­ness di­rec­tor work­ing at a Shang­hai-based FMCG com­pany will prob­a­bly see his/her an­nual in­come in­crease from 900,000 yuan in 2015 to 1.1 mil­lion yuan this year, said Wang.

Based on Robert Wal­ters’ find­ings, em­ploy­ers in Shang­hai are the most gen­er­ous in terms of of­fer­ing salary hikes. Their peers in Bei­jing tend to be con­ser­va­tive.

While most em­ploy­ers in Bei­jing are likely to keep their staff ’s salaries un­changed this year, some could even lower them quite sig­nif­i­cantly in the next few months.

For ex­am­ple, a fi­nance di­rec­tor is likely to see his/ her an­nual in­come drop to 1 mil­lion yuan this year from 1.5 mil­lion yuan in 2015.

A sales di­rec­tor in a Bei­jing-based in­dus­trial com­pany will see his/her an­nual in­come cut to 1.8 mil­lion yuan this year from 2 mil­lion yuan in 2015.

For po­si­tions not closely re­lated to the dig­i­tal seg­ment, hikes may still be pos­si­ble, as long as the can­di­dates have cer­tain pro­fes­sional skills.

Ac­cord­ing to Hays Plc, a Lon­don-head­quar­tered hir­ing firm, in­sur­ance is one of the sec­tors that will show most vi­brancy this year, given the strong rev­enues and prof­its of Chi­nese in­sur­ers in the past 12 months.

Con­tact the writer at @ chi­nadaily.com.cn

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