Average salary rise of 5-8% in China on cards
Print Edition
EMPLOYEES in China may see average salary rise of 5-8 percent this year and more jobs are likely to be found in the services sector, recruitment firm Morgan Mckinley said in a report yesterday.
The overall job market is cooler amid an economic slowdown, but there are still opportunities in banking and financial services as well as in the technology innovation sector, market observers said.
In Shanghai, opportunities in banking abound as foreign banks are in active in expanding cross-border private banking and wealth-management businesses which require professionals familiar with domestic and international regulations.
Internet companies, especially in the finance sector, will drive expansion in headcount and salary increase, Morgan Mckinley said.
Though the traditional manufacturing sector such as automaking may suffer slower growth, huge opportunities are present in digitalization and automation, according to the firm.
China’s economy is set to grow 6-7 percent this year, said Rio Goh, managing director of Morgan McKinley China.
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