5

Communication

67

84
1+
5

82
SAP Negotiation Ethics

4
ERP

894 6
4 7 5

9
US GAAP

476

57

82 +
2
Relationships

6
Tax Budget Management

3
IFRS

+
Technology Growth

7
1

2
2
6
Connections

9
2
Adviser Soft skills Strategy

23
2

#
Strategy Customer service

43
8
3

9
3

4
9

5 9
Integrity Compliance Regulations Collaboration Compliance

7
IntegrityCommunication

3
Accounting

7
9
8

3
9

3
Leadership General ledger Well-rounded Reconciliations

9
+

4
7
Business acumen Connections

9
8=

# 21
Guidance Business acumen

86 83
9

2
Continuous learning Reconciliations General ledger

85
9
Financial reporting

8
7
Negotiation

5
3
Negotiation

5
Relationships Financial reporting
Technology

4
Leadership

6
Soft skills Leadership

3
48 2 9
5 2 5 67
Accounting
Financial reporting Finance

2
Connections Compliance Collaboration
Guidance ERP
General ledger

6
Global Relationships

6 2
Regulations

9
6
Continuous learning

43
7
4
7
43
Business acumen Reconciliations Collaboration

+
Tax Management

6 8

83
Regulations Spreadsheets

9
SAP

6
18
5

8
2
Ethics IFRS

3
Strategic decision making Guidance

21
Accounting

5
Tax Spreadsheets

9
7

73
Technology

9
8

4
3
Budget

35
3
Management Adviser Customer service

1
3 + 4 72
Year-end

562
8
7
3
Pivot tablesSAP Financial reporting

7
Guidance Relationships Regulations M 3
Connections

9
Communication

247
+
Presentation skills

1
Pivot tables

98
Technology Skills

3
Reconciliations

5
9
3 12 8

7
3

2
94
Quarterly close
en 2

Accounting 7

3
Continuous learning

2
7
Communication

92
5 67565

5
Management Soft Skills
tor

Connections

83
Well-rounded
8

46
6 45
Forecast Connections

86
Growth Leadership Strategic decision making

6
Collaboration

#
Adapt Well-rounded
#
2

6
Negotiation

7
Management 1

13
3
6
Audits

9
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17
Strategy Pivot tables

5
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Salary Guide
2013

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Table of Contents

From the Managing Director 3

Foreword by ICPAS 4

Using the Salary Guide 5

The hiring landscape in Asia 6

Hiring outlook and salaries in Hong Kong . 9

Hiring outlook and salaries in Singapore 12

Hiring outlook and salaries in Shanghai 15

Hiring outlook and salaries in Japan 18

Remuneration trends 20

The finance growth challenge: Increasing productivity 21

The rise of the super contract professional 22

Robert Half: Your recruitment expert 23

 2
#
+
7
4

From the Managing Director

Dear colleague,

The role of accounting and finance is crucial to an

organisation’s financial health – ensuring compliance to
regulatory requirements, maintaining a positive cash flow
and producing timely financial data for critical decision
making. Hiring and retaining the most skilled finance and
accounting professionals is therefore, of utmost importance in
today’s volatile climate and complex business environment.

Robert Half’s 2013 Finance & Accounting Salary Guide brings

together market intelligence and pay data to help you identify
recruitment trends, and establish competitive pay levels. Our recruiting managers are in daily
discussions with both companies and candidates, allowing us to know what the market is
willing to pay. We also supplement this data with our own research into how companies intend
to remunerate in the future.

This salary guide plays a crucial role for both employers and job candidates. Knowing what
constitutes a competitive salary allows you to attract top professionals to your organisation
and, just as importantly, retain them. For candidates, knowing their market worth will help
guide their next career move.

I hope you find our 2013 Salary Guide informative and welcome you to contact one of our
specialised recruiting managers with questions about the survey findings and broader hiring
trends, or to discuss your recruitment needs.

Regards,

David Jones
Managing Director
Robert Half Asia Pacific

Robert Half 2013 Salary Guide 3

Foreword by ICPAS
The Institute of Certified Public Accountants of Singapore is
honoured to continue its long-standing partnership with Robert
Half International on the Finance & Accounting Salary Guide
this year. The well-researched report remains a comprehensive
source of information for remuneration and hiring trends
regarding finance and accounting jobs in Asia Pacific.

Understanding the pulse of the job market has never been

more crucial for businesses as they vie for talents who
possess the unique skills sets needed to help them navigate
the challenges inherent in an uncertain global climate. On the
other hand, finance and accounting professionals also seek to
understand what are some of the most sought-after skills that
they need to acquire to boost their competitiveness and career trajectory.

As the national accountancy body, the Institute recognises that the cultivation of a
knowledgeable and sustainable talent pool is fundamental to the quality of the accountancy
profession, which in turn, also supports the growth of a vibrant business environment.

We believe that this guide will serve the finance and accountancy sector well in furnishing data
that will help both employers and employees make informed decisions about the recruitment
landscape.

Best wishes,

Dr Ernest Kan, FCPA Singapore

President
Institute of Certified Public Accountants of Singapore

4 Robert Half 2013 Salary Guide

Using the Salary Guide
The 2013 Salary Guide from Robert Half gives you quick access to the
latest salaries for finance and accounting professionals throughout Asia.
It can help you determine remuneration levels for new and existing
employees, plan budgets and navigate today’s hiring environment.

Our Salary Guide provides projected average salary ranges for 3 5

972

TAX Strategy
accounting and finance positions across Asia. The salary ranges
46 43
2

+8

Negotiation
Year-end
Leadership
4
represent average remuneration only, not taking into account 8 6 2

Global
Growth
Connections
5#

Audits
factors such as seniority, skills and industry that can impact pay

Communication
Accounting Regulations
Global
levels. Bonuses, incentives and other forms of remuneration, such 3 + 29
6

Forecasting
8
as benefits and pension schemes, are also not taken into account.

Well-rounded
5 +
7

Strategy
Audits
Adapt
6
493 726

Pivot tables
7 27
The information in this guide is collected from various sources,
82 1

General ledger
2
including: 7

Adapt XBRL Collaboration

Soft skills Regulations
Reporting
8
5

Pivot tables
Connections
2

Productivity
7 5#

TAXFinancial insight Business acumen Customer service Adviser

9 27 7

Commercial acumen Adviser Connections

IT Business partnering
• Our recruiting managers who specialise in accounting and 6 #
4 5 8
7

Change Management Relationships

3
finance, and make placements throughout Robert Half locations Leadership Adviser Accounting GAAP Connections
3 25

Revenue growth

ModellingAccounting Negotiation
2

Connections Business acumen

4
in Asia

Upskill Technology

Project Implementation
Connections Forecasting Ethics
XBRL Do More With Less Collaboration

1
4 4 41
• Insights from our senior managers 6

TAX XBRLSAP
GAAP
Pivot tables
TAX Modelling Audits

9
Business demands

#
Training ERP
8
• Independent research we conduct regularly among Chief 5
Reconciliations

Financial Officers (CFOs) and Finance Directors in the region

Compliance Enhance

8 #
• Our comprehensive analysis of current and future hiring trends
Relationships
9 7 3 2
1 +4 1 2
6
46 +8
Adviser
# 5
This guide also includes insights into the hiring environment,
Management Accounting

3
3
Strong Process Analysis
Leadership Soft skillsTechnology Negotiation

decision-making
Integrity Well-rounded Global Audits

skills in demand and practical hiring advice, as well as companies’ 5 5

Spreadsheets Soft skills

remuneration plans for existing employees based on our survey of 8

9
Financial systems

550 CFOs and Finance Directors in Asia.

Expert

4
Compliance

1 x
Budgeting

6
Strategic

3
8 3
5 7 2
Regulations

7 1
Collaboration

9 #
ERP

Robert Half 2013 Salary Guide 5

 en
um 2
8 1

9
9
Ac 3

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ss ly s is
Ana
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#

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8

Bu
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The hiring 5
landscape
7
8
in Asia
2

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e
The Asia Pacific region is expected to remain the most important driver
for the world’s economic growth, despite concerns about the Eurozone
economic woes and moderate growth from the region’s emerging giants.
Asia’s economy appears poised to expand faster than the world average, and
opportunities abound for talented finance and accounting professionals.

Some markets will enjoy strong hiring demand and increased headcount while
for other markets, the number of new hires will be fewer. Much of what will occur
in the job market will depend on the confidence of management within each
different country.

The battle for top talent continues to intensify in Hong Kong as companies

88%
of CFOs in Asia
compete with the regional financial hubs of Singapore and Shanghai.

find it challenging to
locate skilled financial
professionals today
Singapore companies remain positive about their prospects and expect demand
for new hires to be robust.
The Japanese economy is a mixed one, with some industries declining while others
take advantage of the strong yen to pursue expansion and acquisition plans.

China’s growth picked up in 2013 after slowing down in the later half of 2012,
and this will have a positive impact on the hiring landscape in Shanghai.

One thing that is constant across all Asian countries is the growth in new
regulations. Many of these new regulations were a result of the financial crisis

88%
of 2008, and are a response by policymakers to the public’s demand for greater
certainty in financial markets.

of CFOs in Asia are

The responsibility for managing these new regulatory requirements inevitably
concerned about falls on professionals in the finance and accounting sectors. This development
losing top performers will see professionals with compliance experience in hot demand in all major
in the coming year markets.

Source for statistics:

Robert Half survey of
550 CFOs and Finance
Directors in Asia.

#
8
7

pskill
3

6 Robert Half 2013 Salary Guide

U2
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5 #
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8
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5 1

Highly sought-after skills

Although the global financial crisis is now behind us, its impact can still
be felt in the way companies approach their operations and in the hiring
decisions they make.

Companies have become a lot more cautious and each new spending
initiative or new hire must be justified. As a result, being able to do the
technical aspects of a job is no longer good enough. Employers now
place a greater value on the interpersonal and communications skills of
candidates. Employers want people who are analytical and are capable
of critical thinking.

As companies continue to restructure to increase productivity,

companies are looking for professionals who know how to manage
change. Leading or participating in a team tasked with a major
restructure or change initiative is the type of experience many
employers are looking for.

Another highly valued quality is regional experience. Employers are

looking for more than just the odd overseas project or assignment
when they read a CV. They are seeking cultural awareness and the
ability to adapt working style to get the best results in an unfamiliar
culture. The mastery of a second language – Mandarin, Cantonese or
Japanese – is a significant talent that is prized by many employers.

While softer skills are increasingly sought after, there will always be a
place for professionals with expert skill sets. Knowledge of enterprise
resource planning software (ERP such as SAP and Oracle) is always an
asset, while candidates with experience in accounting standards such
as PRC GAAP, IFRS or US GAAP will have an edge over their peers.

In terms of the qualifications that are most in demand, many

organisations continue looking for professionals who are CPA, CFA,
CA, ACCA and CIMA qualified.
3 4
9
3 8
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Robert Half 2013 Salary Guide 7
8
 Positions in demand
Compliance Professionals – New financial regulations, including
anti-money laundering (AML) requirements, International Financial
Reporting Standards (IFRS) and anti-corruption requirements are
significantly changing the way companies conduct business. This
explosion in new regulations has made the compliance role one of the
hottest jobs in the industry. Risk management and compliance budgets
are increasing, with most expenditure going towards hiring additional
qualified staff.

Internal Auditors – Stringent internal controls and auditing are now

seen as essential for any medium to large-sized company. The industry
looks to Boards as regulators to improve corporate governance, and the
role of the internal auditor is naturally elevated. Boards are requiring
more from their internal auditors, and demand for experienced auditors
is growing.

Financial Planning and Analysis (FP&A) – Knowing the numbers is

one thing. Understanding them is something different entirely. The
ability to analyse data so as to provide a clearer picture of a company’s
performance is a much sought-after skill. Good analysis can be
the catalyst for change that increases efficiency and productivity.
Experienced FP&A professionals are in high demand as companies
seek smarter and better ways to operate.

Tax Professionals – The tax obligations of companies are becoming

increasingly complex and only skilled professionals can understand
them fully. Tax systems vary enormously from country to country, which
poses a particular challenge for companies generating income in
several markets. Professionals with hands-on experience managing tax
issues in several markets are increasingly in demand.

8 Robert Half 2013 Salary Guide

Hiring outlook in Hong Kong
For the first half of 2013, hiring levels are likely to remain stable,
with replacement hiring the main focus for many companies.

Companies are taking longer to fill positions and the hiring process has become prolonged. As
managers battle to justify each hiring decision, they are becoming more demanding with regard
to the skills and experience they are willing to accept. This means that candidates will find
themselves facing multiple rounds of interviews before a decision to hire is made.

Many companies in the commerce and industry sector are also undergoing restructuring to
improve efficiency. This often results in less strategic finance and accounting functions being
relocated to countries where these companies are able to take advantage of relatively lower
infrastructure and employee costs. This trend is creating a need for senior finance professionals
with specialised skills to drive and manage these offshore projects and teams. Many finance
and accounting jobs within the commerce and industry sector are also being moved to other
regional financial centres, including Shanghai and Singapore, causing concern for many junior to
mid-level professionals who may not be willing to relocate.

There are several bright spots however, within the hiring landscape in Hong Kong. The industries
currently hiring most actively include healthcare, pharmaceutical, retail, IT services, marketing
and media.

Finance and accounting professionals with experience in risk management and compliance are
in high demand as Hong Kong companies grapple with constantly changing regulatory schemes.
This demand is most pronounced among China-based companies, and small and medium-sized
organisations.

There is also demand for finance and accounting professionals with a track record of supporting
different internal functions to streamline processes, as well as tax, treasury and credit
professionals who can add value and improve overall cost efficiency.

Skills in high demand include advanced Microsoft Excel proficiency, SAP, Oracle and ERP
knowledge, along with strong analytical, interpersonal and communication abilities. In addition,
it is becoming increasingly important for finance and accounting professionals to be adept and
experienced in managing change, and be able to adapt to the fast changing environment.

Robert Half 2013 Salary Guide 9

Salaries in Hong Kong
Job Title Company Turnover 2012 2013 % Change

ACCOUNTING

Assistant Accountant S/M 156,000 - 240,000 156,000 - 240,000 0%
L 216,000 - 276,000 216,000 - 276,000 0%

Accountant S/M 228,000 - 324,000 240,000 - 336,000 4%
L 276,000 - 336,000 300,000 - 360,000 8%

Manager S/M 312,000 - 420,000 336,000 - 480,000 11%
L 480,000 - 540,000 504,000 - 600,000 8%

ACCOUNTS PAYABLE / RECEIVABLE

Clerk S/M 108,000 - 156,000 108,000 - 156,000 0%
L 120,000 - 168,000 120,000 - 168,000 0%

Manager L 420,000 - 600,000 420,000 - 600,000 0%

CREDIT

Analyst S/M 156,000 - 300,000 156,000 - 300,000 0%
L 300,000 - 420,000 300,000 - 420,000 0%

Manager S/M 276,000 - 360,000 300,000 - 396,000 9%
L 420,000 - 600,000 480,000 - 660,000 12%

FINANCE

Analyst S/M 192,000 - 360,000 216,000 - 384,000 9%
L 396,000 - 504,000 420,000 - 540,000 7%

Manager S/M 384,000 - 540,000 420,000 - 600,000 10%
L 480,000 - 600,000 540,000 - 660,000 11%

Controller S/M 567,000 - 819,000 600,000 - 900,000 8%
L 840,000 - 1,050,000 900,000 - 1,200,000 11%

CFO / Finance Director S/M 900,000 - 1,300,000 960,000 - 1,500,000 12%
L 1,400,000 - 2,500,000 1,500,000 - 2,800,000 10%

10 Robert Half 2013 Salary Guide

 Salaries in Hong Kong

Job Title Company Turnover 2012 2013 % Change

FINANCIAL PLANNING & ANALYSIS / BUSINESS

Analyst S/M 192,000 - 360,000 216,000 - 384,000 9%
L 396,000 - 504,000 420,000 - 540,000 7%

Manager S/M 384,000 - 540,000 420,000 - 600,000 10%
L 480,000 - 600,000 540,000 - 660,000 11%

Director L 1,050,000 - 1,250,000 1,100,000 - 1,300,000 4%

INTERNAL AUDIT

Auditor S/M 216,000 - 480,000 216,000 - 480,000 0%
L 480,000 - 660,000 480,000 - 660,000 0%

Manager S/M 360,000 - 540,000 360,000 - 540,000 0%
L 480,000 - 780,000 480,000 - 780,000 0%

Director L 882,000 - 1,500,000 960,000 - 1,600,000 7%

TAX

Analyst S/M 156,000 - 300,000 156,000 - 300,000 0%
L 300,000 - 420,000 300,000 - 420,000 0%

Manager S/M 400,000 - 680,000 420,000 - 720,000 6%
L 550,000 - 720,000 600,000 - 800,000 10%

Director L 1,000,000 - 1,500,000 1,200,000 - 1,800,000 20%

TREASURY

Analyst S/M 156,000 - 300,000 156,000 - 300,000 0%
L 300,000 - 420,000 300,000 - 420,000 0%

Manager S/M 276,000 - 360,000 300,000 - 396,000 9%
L 420,000 - 600,000 480,000 - 660,000 12%

Treasurer L 1,000,000 - 1,500,000 1,200,000 - 1,800,000 20%

Please note, salaries are in HK$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits.
S < HK$ 50 million | HK$ 50 million ≤ M ≤ HK$ 150 million | L > HK$ 150 million

Robert Half 2013 Salary Guide 11

Hiring outlook in Singapore
The hiring market in Singapore is expected to be robust for the
first half of the year, with strong demand for candidates to replace
existing positions as well as fill newly created roles. The mood
among employers in Singapore is optimistic – they expect growth
and this will drive the need for more headcount.

Singapore has positioned itself as an attractive finance hub, successfully drawing the finance
functions of other major centres to relocate there. Much of this demand for new hires comes
from North American or European companies seeking to benefit from the Asia growth story,
and take advantage of the favourable tax regime and strong regulatory framework. In addition,
Singapore has attracted a fair number of finance and accounting activity from other regional
centres in Asia.

The biggest challenge facing employers in Singapore is getting quality candidates for the
positions they have available. Companies in energy, information and communications technology
(ICT), fast moving consumer goods (FMCG), real estate and pharmaceutical industries are all in
the market looking for skilled and experienced finance and accounting staff.

The strongest demand in the Singapore market is for financial planning and analysis managers,
tax managers and finance managers. On the experience score, the highest demand is for mid- to
senior level professionals with five to 10 years of relevant experience. Employers have a strong
preference for candidates with regional exposure, proficiency in ERP systems, and those who
possess strong communication and leadership skills. Candidates with relevant cultural and
language (Mandarin) skills hold the strongest appeal as an increasing number of companies
look to expand into China.

The most popular and sought after qualifications include CPA, ACCA and other recognised
accounting degree. Experience with Oracle, Hyperion or similar systems is also highly valued.

Permanent hiring tends to be the focus for organisations in Singapore, although contract
and temporary employment remains a valuable recruitment strategy. Perhaps because of the
increased use of interim and contract professionals, many professionals and candidates benefit
from the opportunity to learn new skill sets and gain experience in another industry.

12 Robert Half 2013 Salary Guide

Hiring outlook in Singapore Salaries in Singapore
The hiring market in Singapore is expected to be robust for the Job Title Company Turnover 2012 2013 % Change
first half of the year, with strong demand for candidates to replace
Accounting
existing positions as well as fill newly created roles. The mood
Accountant S/M 40,000 - 54,000 42,000 - 56,000 6%
among employers in Singapore is optimistic – they expect growth

L 50,000 - 60,000 52,000 - 63,000 9%

and this will drive the need for more headcount. Senior Accountant

S/M
L
60,000 - 80,000 62,000 - 85,700
70,000 - 85,000 73,000 - 88,000
4%
5%

Manager S/M 75,000 - 90,000 79,000 - 95,000 5%

Singapore has positioned itself as an attractive finance hub, successfully drawing the finance L 90,000 - 130,000 95,000 - 140,000 7%

functions of other major centres to relocate there. Much of this demand for new hires comes
Accounts Payable / Receivable
from North American or European companies seeking to benefit from the Asia growth story,
and take advantage of the favourable tax regime and strong regulatory framework. In addition, Analyst / Specialist S/M 40,000 - 55,000 45,000 - 60,000 11%
L 50,000 - 65,000 55,000 - 70,000 9%
Singapore has attracted a fair number of finance and accounting activity from other regional
centres in Asia. Controller / Manager S/M 60,000 - 80,000 65,000 - 85,000 7%
L 75,000 - 100,000 80,000 - 105,000 6%

The biggest challenge facing employers in Singapore is getting quality candidates for the
Cost Accounting
positions they have available. Companies in energy, information and communications technology
(ICT), fast moving consumer goods (FMCG), real estate and pharmaceutical industries are all in Accountant / Analyst S/M 50,000 - 75,000 55,000 - 80,000 8%
L 60,000 - 110,000 65,000 - 120,000 9%
the market looking for skilled and experienced finance and accounting staff.
Manager S/M 80,000 - 120,000 85,000 - 125,000 5%
The strongest demand in the Singapore market is for financial planning and analysis managers, L 100,000 - 150,000 110,000 - 160,000 8%

tax managers and finance managers. On the experience score, the highest demand is for mid- to
senior level professionals with five to 10 years of relevant experience. Employers have a strong
preference for candidates with regional exposure, proficiency in ERP systems, and those who
possess strong communication and leadership skills. Candidates with relevant cultural and
language (Mandarin) skills hold the strongest appeal as an increasing number of companies
look to expand into China.
The most popular and sought after qualifications include CPA, ACCA and other recognised
accounting degree. Experience with Oracle, Hyperion or similar systems is also highly valued.
Credit
Controller / Analyst S/M 60,000 - 80,000 65,000 - 85,000 7%
L 75,000 - 100,000 80,000 - 105,000 6%
Head of Credit S/M 100,000 - 150,000 105,000 - 160,000 6%
L 150,000 - 200,000 160,000 - 210,000 6%
FINANCE Management
Finance Controller S/M 100,000 - 150,000 110,000 - 160,000 8%
L 150,000 - 250,000 160,000 - 265,000 6%

Permanent hiring tends to be the focus for organisations in Singapore, although contract Finance Director / VP Finance S/M 150,000 - 200,000 160,000 - 215,000 7%
and temporary employment remains a valuable recruitment strategy. Perhaps because of the L 200,000 - 350,000 215,000 - 380,000 8%

increased use of interim and contract professionals, many professionals and candidates benefit CFO S/M 150,000 - 220,000 160,000 - 240,000 8%
from the opportunity to learn new skill sets and gain experience in another industry. L 200,000 - 400,000 215,000 - 430,000 8%

Financial Planning & Analysis / Business Analysis

Analyst S/M 36,000 - 55,500 40,000 - 60,000 9%
L 55,000 - 80,000 60,000 - 85,000 7%

Senior Analyst / Manager S/M 75,000 - 90,000 80,000 - 95,000 6%
L 80,000 - 130,000 85,000 - 140,000 7%

Director L 150,000 - 250,000 160,000 - 270,000 8%

Please note, salaries are in S$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits.
S < S$ 100 million | S$ 100 million ≤ M ≤ S$ 250 million | L > S$ 250 million

12 Robert Half 2013 Salary Guide Robert Half 2013 Salary Guide 13
Salaries in Singapore

Job Title Company Turnover 2012 2013 % Change

Internal Audit

Auditor S/M 65,000 - 90,000 70,000 - 95,000 6%
L 80,000 - 100,000 85,000 - 105,000 6%

Manager S/M 100,000 - 150,000 105,000 - 160,000 6%
L 120,000 - 180,000 125,000 - 190,000 5%

Director L 150,000 - 250,000 158,000 - 265,000 6%

Payroll

Specialist S/M 50,000 - 70,000 55,000 - 75,000 8%
L 60,000 - 90,000 65,000 - 95,000 7%

Manager S/M 80,000 - 110,000 85,000 - 120,000 8%
L 100,000 - 150,000 110,000 - 160,000 8%

Risk / Compliance

Manager S/M 80,000 - 100,000 85,000 - 110,000 8%
L 100,000 - 150,000 110,000 - 160,000 8%

Tax

Analyst / Specialist S/M 50,000 - 80,000 55,000 - 85,000 8%
L 70,000 - 90,000 75,000 - 95,000 6%

Manager S/M 100,000 - 150,000 105,000 - 160,000 6%
L 120,000 - 200,000 130,000 - 215,000 8%

Director L 180,000 - 300,000 195,000 - 320,000 7%

Treasury

Accountant S/M 60,000 - 80,000 65,000 - 85,000 7%
L 80,000 - 100,000 85,000 - 105,000 6%

Manager S/M 100,000 - 120,000 105,000 - 125,000 5%
L 120,000 - 180,000 125,000 - 190,000 5%

Director L 150,000 - 250,000 160,000 - 270,000 8%

Please note, salaries are in S$, represent average remuneration, and do not include pension schemes, bonuses or any other benefits.
S < S$ 100 million | S$ 100 million ≤ M ≤ S$ 250 million | L > S$ 250 million

14 Robert Half 2013 Salary Guide

Hiring outlook in Shanghai
While China’s impressive growth rate slowed in the
later part of 2012, it looks set to pick up considerably in
2013, and this will have a positive impact on the hiring
landscape in Shanghai.

Some companies have frozen their headcount but these are the minority.
There are positions – both new and existing – that need to be filled and
Shanghai companies are prepared to pay more to get the right person.

Candidates with the right combination of skills and experience can

negotiate substantial pay increases each time they move to a new position.
As a result, many talented finance and accounting professionals are
considering advancing their salary and their career by moving quickly from
one opportunity to another. Increasingly, employees in Shanghai today are
also motivated by flexible work arrangements, work-life balance, and career
progression, and they will continue to search for new job opportunities that
provide these benefits.

Employers, on the other hand, are facing some challenges. Companies are
taking longer to fill positions and the hiring process has become prolonged.
As managers justify each hiring decision, they are becoming more
demanding with regard to the skills and level of commitment expressed by
job candidates.

Retail, fast moving consumer goods (FMCG), luxury, services and high-tech
industries are supporting a robust hiring market. The strongest demand in
the Shanghai market is for financial planning and analysis, internal audit,
internal control, compliance, tax and treasury professionals with three to
five years of relevant experience. Employers are looking for candidates who
not only have technical skills and a combination of PRC GAAP, IFRS or
US GAAP, but also have good business acumen and strong soft skills. The
most sought after qualifications include CICPA and AICPA.

Robert Half 2013 Salary Guide 15

Salaries in Shanghai
Job Title Company Turnover 2012 2013 % Change

ACCOUNTING

Senior Accountant S/M 100,000 - 208,000 117,000 - 218,000 9%
L 100,000 - 250,000 117,000 - 260,000 8%

Accounting Manager S/M 260,000 - 350,000 286,000 - 380,000 9%
L 272,000 - 450,000 300,000 - 500,000 11%

COSTING

Analyst S/M 130,000 - 234,000 142,000 - 255,000 9%
L 156,000 - 286,000 170,000 - 312,000 9%

Manager S/M 325,000 - 455,000 360,000 - 480,000 8%
L 364,000 - 550,000 400,000 - 580,000 7%

COMPLIANCE / INTERNAL AUDIT / INTERNAL CONTROL

Compliance Supervisor L 169,000 - 300,000 195,000 - 325,000 11%

Compliance Manager L 364,000 - 650,000 380,000 - 715,000 8%

Internal Auditor S/M 140,000 - 260,000 156,000 - 280,000 9%
L 208,000 - 390,000 221,000 - 430,000 9%

Internal Audit Manager S/M 260,000 - 325,000 286,000 - 360,000 10%
L 325,000 - 520,000 350,000 - 580,000 10%

Internal Control Specialist L 156,000 - 260,000 169,000 - 280,000 8%

Internal Control Supervisor / Manager L 260,000 - 520,000 286,000 - 570,000 10%

CREDIT CONTROL

Analyst / Supervisor S/M 156,000 - 234,000 168,000 - 252,000 8%
L 156,000 - 260,000 168,000 - 280,000 8%

Manager S/M 234,000 - 525,000 252,000 - 568,000 8%
L 260,000 - 585,000 280,000 - 632,000 8%

FINANCIAL PLANNING & ANALYSIS

Analyst / Senior Analyst S/M 130,000 - 260,000 156,000 - 280,000 12%
L 130,000 - 312,000 156,000 - 350,000 14%

Manager S/M 325,000 - 520,000 350,000 - 546,000 6%
L 350,000 - 676,000 390,000 - 700,000 6%

16 Robert Half 2013 Salary Guide

 Salaries in Shanghai

Job Title Company Turnover 2012 2013 % Change

FINANCE

Finance Manager S/M 208,000 - 540,000 220,000 - 570,000 6%
L 325,000 - 560,000 345,000 - 595,000 6%

Financial Controller S/M 480,000 - 850,000 510,000 - 900,000 6%
L 520,000 - 1,040,000 550,000 - 1,100,000 6%

CFO / Finance Director S/M 600,000 - 1,200,000 636,000 - 1,272,000 6%
L 910,000 - 2,500,000 965,000 - 2,650,000 6%

REPORTING

Specialist / Supervisor S/M 130,000 - 195,000 143,000 - 208,000 8%
L 156,000 - 260,000 169,000 - 286,000 9%

Manager S/M 260,000 - 390,000 286,000 - 416,000 8%
L 325,000 - 455,000 350,000 - 490,000 8%

TAX

Analyst S/M 130,000 - 300,000 143,000 - 325,000 9%
L 130,000 - 300,000 143,000 - 325,000 9%

Manager / Senior Manager S/M 300,000 - 650,000 325,000 - 700,000 8%
L 300,000 - 780,000 325,000 - 845,000 8%

Director S/M 650,000 - 1,000,000 715,000 - 1,040,000 6%
L 780,000 - 1,300,000 825,000 - 1,380,000 6%

TREASURY

Analyst S/M 130,000 - 260,000 143,000 - 286,000 10%
L 130,000 - 260,000 143,000 - 286,000 10%

Manager / Senior Manager S/M 260,000 - 520,000 286,000 - 572,000 10%
L 260,000 - 715,000 286,000 - 820,000 13%

Please note, salaries are in CNY, represent average remuneration and allowance, and do not include bonuses or any other benefits.
S < CNY 100 million | CNY 100 million ≤ M ≤ CNY 500 million | L > CNY 500 million

Robert Half 2013 Salary Guide 17

Hiring outlook in Japan
The outlook for the Japanese hiring market mirrors that of the
nation’s economy. While there will be some growth, businesses
are expected to exercise caution in hiring finance and accounting
professionals and making employment decisions. The industries
currently hiring finance and accounting staff most actively include
pharmaceutical, medical and IT.

With a number of high-profile corporate scandals making headlines throughout the world, Japan’s
management are renewing their focus on internal controls. This will see increased demand for
financial controllers, finance managers and auditors, with five to 10 years of experience.

Companies seeking to replace a vacant post or fill a new one can be extremely demanding when
it comes to the quality of candidate they desire. Japan however, has a strong pool of experienced
finance and accounting professionals to tap on. The challenge is to convince a talented professional
to change to a new company or to take on a new role, as some employees tend to be more
conservative when making choices about their careers.

Skills in high demand include advanced Microsoft Excel, SAP, Oracle and ERP knowledge, along with
strong leadership and bilingual communication skills. The U.S. CPA is also becoming a popular and
sought after qualification for professionals in Japan who are looking to expand their career options.

Salaries in Japan
Job Title Company Turnover 2012 2013 % Change

ACCOUNTING

Accountant S/M 4,000,000 - 7,000,000 4,000,000 - 7,000,000 0%
L 4,000,000 - 8,000,000 4,200,000 - 8,000,000 2%

Senior Accountant S/M 6,000,000 - 8,000,000 6,000,000 - 8,000,000 0%
L 7,000,000 - 8,200,000 7,000,000 - 8,500,000 2%

ACCOUNTS PAYABLE / RECEIVABLE

Clerk S/M 3,000,000 - 5,000,000 3,000,000 - 5,000,000 0%
L 3,500,000 - 5,000,000 3,500,000 - 5,000,000 0%

Manager S/M 4,000,000 - 7,000,000 4,000,000 - 7,000,000 0%
L 4,500,000 - 8,500,000 4,500,000 - 8,500,000 0%

18 Robert Half 2013 Salary Guide

 Salaries in Japan

Job Title Company Turnover 2012 2013 % Change

CREDIT

Manager L 7,500,000 - 14,000,000 7,500,000 - 14,000,000 0%

EXTERNAL AUDIT

External Auditor L 4,000,000 - 25,000,000 4,000,000 - 25,000,000 0%

FINANCE

Manager S/M 7,500,000 - 14,000,000 7,500,000 - 14,000,000 0%
L 8,000,000 - 14,000,000 8,000,000 - 14,000,000 0%

Controller S/M 7,500,000 - 14,200,000 7,500,000 - 14,200,000 0%
L 8,200,000 - 14,500,000 8,500,000 - 14,500,000 1%

CFO / Finance Director S/M 10,000,000 - 14,500,000 10,000,000 - 14,500,000 0%
L 12,000,000 - 18,000,000 12,500,000 - 18,000,000 2%

FINANCIAL PLANNING & ANALYSIS

Analyst S/M 4,000,000 - 7,900,000 4,000,000 - 8,000,000 1%
L 5,200,000 - 9,000,000 5,200,000 - 9,200,000 1%

Manager S/M 7,000,000 - 13,900,000 7,350,000 - 13,900,000 2%
L 7,000,000 - 14,000,000 7,350,000 - 14,000,000 2%

Director L 10,000,000 - 15,900,000 10,400,000 - 15,900,000 2%

INTERNAL AUDIT

Internal Auditor L 5,000,000 - 14,000,000 5,200,000 - 14,000,000 1%

TAX

Manager L 7,000,000 - 20,000,000 7,000,000 - 20,000,000 0%

TREASURY

Treasurer L 7,000,000 - 20,000,000 7,000,000 - 20,000,000 0%

Please note, salaries are in ¥, represent average remuneration, and do not include pension schemes, bonuses or any other benefits.

Robert Half 2013 Salary Guide 19

Remuneration trends
Paying competitive salaries helps ensure talented employees stay with a company. And it makes
good business sense to do so as the opportunity cost of finding a suitable replacement together
with the drop in productivity caused by a vacant position is usually higher.

According to the latest Robert Half survey of Chief Financial Officers (CFOs) and Finance
Directors, 59% in Hong Kong, 53% in Singapore, 63% in Shanghai and 37% in Japan are
planning to increase salary levels during 2013.

In the next 12 months, how much, on average, do you expect salaries

for existing accounting and finance employees to increase?

Hong Kong: 8%
Singapore: 6%
> 10% Japan: 2%
Shanghai: 12%

Hong Kong: 9%
Singapore: 13%
9-10% Japan: 6%
Shanghai: 35%

Hong Kong: 8%
Singapore: 1%
7-8%
Japan: 2%
Shanghai: 9%

Hong Kong: 37%

Singapore: 29%
5-6% Japan: 49%
Shanghai: 27%

Hong Kong: 20%

Singapore: 31%
3-4%
Japan: 22%
Shanghai: 9%

Hong Kong: 17%

Singapore: 20%
1-2% Japan: 20%
Shanghai: 9%
Note: Percentages may not total 100% due to rounding.

20 Robert Half 2013 Salary Guide

The finance growth challenge:
Increasing productivity
With teams charged with taking on additional responsibilities, often
without corresponding headcount additions, finance departments will
have to learn how to be more productive. In fact, nearly all (99%) CFOs
in a recent survey conducted in Asia said that their companies are more
productive than one year ago.

Employees who are genuinely engaged with their organisation experience more job satisfaction
and will often show a willingness to go over and above their specific role to help their manager.
This will ultimately have a positive effect on organisational productivity.

Here are four areas to consider when improving team

productivity:
Challenge processes – Holding discussions with other business units as well as team
members will allow managers to assess areas for process improvement as well as
strategies for implementation. This helps finance leaders create a roadmap to identify
where efficiencies exist through centralisation and what should be left to the business
units. This in turn will allow the finance function to focus on more strategic initiatives.

Enhance IT – Streamlining financial management processes through financial systems and

ERP solutions allows companies to capture operating efficiencies while aligning data with
organisational strategy. Improvements in technology also allow companies to enhance their
financial management controls and satisfy increasingly stringent regulatory compliance
obligations, leading to enhanced productivity.

Tackle training – Ensuring your team stays up to date with the latest regulatory and
technology changes will not only keep their skills sharp but also help you improve
productivity. Enhancing their interpersonal and presentation skills will also improve
communication across inter-departmental teams. With numerous e-learning options to
supplement traditional course work, ongoing professional development can be both cost
effective and impactful.

Re-organise – As departments continue to be stretched thin, it is often important to play

to each individual’s strengths. This may mean a re-evaluation and re-organisation of the
team, allowing individuals to focus on areas where they are strongest and most productive.
Whereas tackling regulatory requirements may be better suited to a strong technical
accountant, business partnering and strategy may be more fitting for the commercially
minded.

Robert Half 2013 Salary Guide 21

The rise of the
super contract professional
They arrive with the right expertise for the job and they get it done
professionally, effectively and with minimum fuss.

They are the super contract professionals – highly talented and skilled 263

TAX Accounting
GAAP Leadership

Spreadsheets
54 4
people who eschew the traditional path of building a career within a

Ethics Global
6

Audits

Year-end
Strategy Technology
company to offer their services as contract staff to the highest bidder. 3
3 7
More and more professionals are drawn to temporary work because of 6 1
# 4+ 2
the flexibility and opportunities it provides. 78

Collaboration Quarterly Close Hiring Activity XBRL Spreadsheets

7

Guidance
1 7
There’s also a change taking place in the way businesses staff their 42
6 8
operations. Finance teams are increasingly attracted to the flexibility they 6

Growth Negotiation
3
9

Collaboration GAAPCompliance Regulatory

Business demands

Customer service
2

Budgeting Change management Collaboration Pivot Tables

Regulations
XBRL Integrity Strategic Customer service Technology

Expert Collaboration Strategic decision-making

can gain by employing a combination of permanent, temporary

Global Rising workloads

Soft Skills

XBRL

Strategy
Connections

TAX Continuous learning

4
62

Business Acumen General ledger

and interim workers.

Do More With Less TAX Audits

7

Process Improvement
Accounting Financial Reporting SAPExpert Enhance IT
Compliance Adviser Integrity Regulations Technology
Leadership Management Strategy Integrity Financial Reporting Ethics
4

Leadership
A flexible staffing approach gives companies greater control over their

Lean teams
5 8
8

Acumen
#
9

Pivot Tables
human resources budget and access to skilled talent as and when they 7 +
3 4 6
2
5

Well-rounded
need it. As companies continually rebalance their workforce in good 4 4
6
#
1

and difficult times, many find that a year-round mix of core permanent
Business
3 8
Management Negotiation
6
= =

Process Analysis
employees and temporary workers is the best way to meet business 1

Growth
demands and remain competitive. 6 8

Negotiation
4 18
Pivot Tables Leadership Financial insight Well-rounded
1 #5
6

New Revenue Sources Do More With Less

Here are five advantages you gain by using temporary and interim 5
Project Implementation

7
2

Business Acumen Guidance Forecasting Enhance IT

9 1

Business partnering
Strategic decision-makingStrong

Forecast Well-rounded Forecast

Communication

5
Accounting

3
professionals as part of your workforce mix. You can: # Spreadsheets SAP 6
5
3
7 8

Communication
5 7
TAX Regulations
Adviser

1. Adjust staffing levels to the peaks and troughs of business

Connections Relationships

Management
# Financial systems Communication +
demands, helping you keep costs under control 9 6
2
3+ 7 14 3
Growth IFRS Connections

2. Ease the burden on employees who may already be 3

4 8 2
Financial Reporting

Integrity
spread too thin
Quarterly Close Modelling

72 9 #
3. Handle special projects outside the expertise of current staff
3
2 4 5 7
4. Ease the concerns of permanent workers, who may otherwise 3
5 8
2 4
Compliance

be subject to nerve-racking cycles of hiring and redundancies 5

Soft Skills

3 6
5. Assess prospective permanent employees firsthand

The bottom line: flexible staffing gives a company resource and

cost-control options it wouldn’t otherwise have.

22 Robert Half 2013 Salary Guide

Robert Half:
Your recruitment expert
Robert Half is the world’s leading specialised recruitment firm.
Through our Robert Half Finance & Accounting and Robert Half
Management Resources divisions, we place highly skilled accounting,
finance and business systems professionals on a temporary, permanent
and senior-level project or interim basis, respectively. Our Robert Half
Financial Services division is the premier provider of recruitment
solutions to financial institutions in top markets around the world.

There is no substitute for the human touch when hiring. While any number of online or
technology tools can identify potential hires, they can’t tell you about the person behind the
profile. We take the time to understand the unique needs and cultures of the businesses we
serve. Then, we carefully choose professionals with skills, work styles and career goals that
align with those businesses.

The many benefits we offer your business include:

The right match – We can help you locate even the most hard-to-find
1 professionals. Our global candidate database includes hundreds of
thousands of talented professionals who are pre-evaluated, skills-tested and
available for work.

Quick results – When you have a job opening, chances are you need
2 immediate help. Our recruitment experts use leading technology to shorten
the search process. In addition, we take the time to understand your
business’s unique needs.

A range of candidates – We can offer a selection of professionals at various

3 experience levels to meet your budget, skills and experience requirements.

Choices – We provide a number of options to fit your needs, whether it’s a

4 permanent hire, temporary professionals to assist with peak workloads or an
experienced consultant to manage a special initiative.

Exceptional service – The hiring process is more complex than ever. We can
5 guide you every step of the way and handle the most challenging aspects for
you. Communication is our speciality.

Robert Half 2013 Salary Guide 23

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+852 3 653 73 00
r hongkong@roberthalf.com.hk
roberthalf.com.hk

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singapore@roberthalf.com.sg
roberthalf.com.sg

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