China – Average salary set to rise by 8% in 2017

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By (Danny Romero)

The average salary in China is expected to increase by 8% this year, according to data from ZW HR Consulting, a Chinese recruitment firm. The 8% increase excludes promotions and varies by industry.

Meanwhile, employees with specific in-demand skill sets and experience could see up to a 25% increase in salary. Candidates who have English and Mandarin language skills are in higher demand and can expect salary hikes of up to 15% – 25%.

“There is a positive outlook on hiring by Chinese companies in 2017,” Frank Yu, Chairman of ZW HR Consulting, said. “We expect many companies will offer wage increases to retain and attract employees as the employee turnover rate remains high”.

Meanwhile, employees who switch positions are set to see a salary increase of between 8% to 15%.

Among the professions, salaries for accounting and finance recruitment professionals will remain steady across all sectors thus, hiring for accounting, finance and banking professionals will remain comparatively stable. Meanwhile, IT, Sales & Marketing professionals could see a 10-12% increase in their salaries. Demand will be particularly high for specialists, mobile engineers and software developers.

Engineering candidates in Research & Development positions and bilinguals who have proficiency in English communications, and business and project management skills, work experience and education in overseas should expect 20% to 30% increases in salary.

“I often hear candidates saying that salary is no longer the most important factor that would convince them to join any organization,” Joyce Jing, General Manager for ZW HR Consulting said. “Employees in China are looking forward to new and innovative benefits, career development, training instead of merely salary hikes. Candidates with international exposure, good language skills, market knowledge and who are well-disciplined will continue to receive multiple offers, as well as counter offers from their current employer”.

ZW HR states that China will also focus on the improvement of economic benefits. On this basis, ZW HR anticipates that the employment market in 2017 will continue to maintain steady development.

Source:: China – Average salary set to rise by 8% in 2017


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