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Salary Guide 2020
Download Mainland China Salary Guide 2020
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The Michael Page Salary Benchmark is our annual salary guide developed as a reference for hiring managers and job seekers to make informed employment decisions in Mainland China. The guide benchmarks the salaries of various job functions across different sectors, including Finance & Accounting, Technology, as well as Sales and Marketing. Leveraging data from Michael Page’s proprietary data and network, studies and observations, the guide provides precious insights to hiring trends and market sentiments in the Asia-Pacific region.
Furthermore, an additional section, titled “What is the Mainland China workforce thinking”, will delve into the specifics of what Generation Y and Generation X are thinking with regard to work, including topics like:
Average salary increase when changing jobs*
|Banking & Financial Services||21|
|Engineer & Manufacturing||16|
|Finance & Accounting||15|
|Healthcare & Life Sciences||52|
|Procurement & Supply Chain||15|
|Secretarial & Office Support||27|
* Data is derived from July 2018 to June 2019, and is validated against insights from our leaders’ and consultants’ interactions with clients and candidates.
How can the report benefit you?
- Understand factors that attract and retain talent
- Project reasonable talent cost based on hiring forecast
- Discover top reasons for resignation
- Find out potential roles to upskill for
- Cite informed salary expectations when switching jobs
- Discover trending skills for your job function
Mainland China Salary Benchmark 2020: China’s market maturity leverages value and partnerships
In a market of close to 1.4 billion people, a decade can feel like a very long time — and setting goals for a new decade requires a fresh new pair of lens. What might China’s workplaces look like by 2030?
It’s also refreshing to look beyond our prolonged spell of market- and trade related talks. Many people I spoke with are settling into this market’s ‘new normal’. Indeed, our runaway growth years are behind us for the time being. However, just like a person entering his or her 20s, there is growing confidence in China’s economic independence thanks in many ways to our shift towards higher-end production, as well as more service- and consumption-driven growth.
Likewise, recruitment is maturing too, as clients and candidates expect improved service. With that said, candidates are clearly becoming more cautious. Previous discussions about the start-up market and our growing risk appetite have been replaced with a rediscovered respect for more traditional sectors, such as banking, which seem like a safer, more stable bet by candidates nowadays. Meanwhile, digitisation remains a word on everyone’s lips as companies move to further professionalise their market offerings. We expect continued interest in those with experience in driving digital transformation. This will in turn help firms gain more value and ROI relative to competitors.
Healthcare and Life Sciences is another sector tipped for ongoing growth in 2020, in a market that has not only matured rapidly economically but is also ageing demographically. We expect further development of the contracting market too as the product gains newfound acceptance and flexible arrangements become a more familiar way to stretch budgets.
As in all times of great change, this is a good opportunity to look at partnerships, especially the ones that promise long term value. As such, we welcome public-private efforts, such as the Made in China 2025 drive, which helps us focus our minds on even greater value-added growth in our productive capacities. Here’s wishing it every success, as well as a bright and productive year ahead for all our customers.