Want a 30 per cent pay rise each time you change companies? China is the place.

China

Pay increments for those switching jobs won’t be great in Hong Kong and Singapore this year, with 15 per cent considered near the top end. But if you’re moving in mainland China, expect to be a lot better off at your new employer.

Erick Zhou, manager of banking & financial services, Robert Walters Beijing, says the Chinese capital is talent short, so commercial banks are even giving 30 per cent hikes in the back and middle office.

However, at foreign banks the current cost-conscious mood is having some affect on pay as firms have become more reluctant than a year ago to renegotiate their initial offers. And although 30 per cent might seem high to bankers in mature markets, average increases in China were even larger until global economic uncertainty pulled them back in the second half of 2011.

In asset management pay increments remain high, according to Zhou. Portfolio managers can expect to gain 30 to 50 per cent rises because China expertise is needed in this sector. “They can’t hire from overseas, so they are willing to pay high rates.”

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