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Average salary in China to rise 6-10%
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Average salary in China will increase between 6 and 10 percent next year, and the procurement and supply chain sector is likely to lead the pay rise, an industry survey showed yesterday.
A total of 63 percent of respondents said they expect to raise salaries by between 6 and 10 percent next year, and another 18 percent expect a double-digit rise, recruitment consultancy Michael Page said in a report yesterday.
Employers in four fast growing sectors — procurement and supply chain, property and construction, engineering and manufacturing, as well as technology — reported highest expectations for salary increases.
“A robust economy and companies’ needs to develop more advanced technology drive demand for talents with higher skills,” said Richard King, managing director of Michael Page North & Eastern China.
The consultancy sees an intense war for talent in engineering and manufacturing which will continue to drive the Chinese economy.
Other industries, including chemicals, pharmaceuticals and luxury retail, will suffer the most shortage of talent, according to King.
The survey collected questionnaires from 700 companies and conducted face-to-face interviews with more than 5,000 managers in China.
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