Financial services firms in Singapore and Hong Kong to increase salaries by 4% in 2019
Good news for workers in the financial services sector in Singapore and Hong Kong! Firms across the sector have planned salary increases of 4% in 2019 despite uncertainties, revealed a survey by Pretium Partners Asia (Pretium).
Analysing 67 international, regional and local investment banks, commercial banks, asset management and private equities firms with multiple offices in Asia, it also revealed firms in China are planning to increase salaries by 5.5%.
Apart from that, the survey projected that bonuses to be paid in 2019 will be worth five months of salaries, down from 7.8 months in 2018.
When it comes to headcount changes, 40% of the surveyed firms intend to expand headcount in 2019, mainly for fixed income, research and compliance.