1、Executive Salary Outlook 2023Chinese Mainland InsightsEmployment Trends Survey May 2023 KPMG Executive Search and Recruitment Services2Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated wi

2、th KPMG International Limited,a private English company limited by guarantee.All rights reserved.ForewordIn 2022,we observed more conservative recruitment activity within traditional industries,while strong growth momentum was seen in emerging technology fields such as new energy vehicles,advanced m

3、aterials,intelligent manufacturing,biomedicine,chips,semiconductors,artificial intelligence and big data despite the effects of the pandemic.Increased hiring activity expected p.5-7 The employment market in the Chinese Mainland is expected to be active in 2023.40%of C-level and HR respondents are ex

4、pecting staff numbers at the Chinese Mainland operations of their organisations to increase in 2023.Highlighting that economic bounce-back is a key theme,the survey finds that headcount increases are focusing on frontline staff such as sales,fee earners and client relations roles.Upward trend in exp

5、ectations around salary p.8-13 Fewer respondents from the Chinese Mainland(26%)changed jobs in 2022;down from the previous year(34%).This perhaps reflects employers retention actions and the relatively higher average salary increment of 13%received after a salary review in 2022.Respondents from the

6、Chinese Mainland also expect prospective new employers to offer a reasonably high salary increment.Attractive remuneration package p.14-19Nearly three-quarters(72%)ranked the salary and compensation package as the top push factor for a job change.Offering an attractive compensation package is import

7、ant to attract and retain talent.However,the survey finds that in terms of the benefits most desired by respondents(e.g.,housing benefits and share-based awards)less than half were offered such benefits by their employers.Chinese Mainland employers should therefore consider tailoring the compensatio

8、n package based on the needs of the specific talent they are targeting.Greater Bay Area(GBA)opportunities p.20-21The further development of the GBA is expected to allow Chinese Mainland employers to tap into a wider talent pool.73%of respondents from the Chinese Mainland and Hong Kong would consider

9、 relocating between different GBA cities or to the region to pursue job opportunities.Better career and industry prospects is the prime motivation to make such a move,while the innovation and technology industry was perceived to generate the most jobs in the GBA over the coming years.David SiewPartn

10、er People Services KPMG China3Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.This is

11、the seventh annual KPMG Executive Salary Outlook.KPMG commissioned YouGov to conduct an online survey in which 1,327 business executives and professionals participated.Among these,682 respondents work in the Chinese Mainland or have a home base there and 645 respondents work or have a home base in H

12、ong Kong(SAR).Conducted between 3 and 15 January 2023,the survey sought professional perspectives on the employment market and career opportunities in the Chinese Mainland,also taking into account their views on the opportunities offered by the Greater Bay Area(GBA).The research covered areas includ

13、ing latest headcount expectations,salary outlook,and other talent trends.It should be noted that while the survey was being conducted,the reopening of the border between the Chinese Mainland and Hong Kong(SAR)was announced after three years of pandemic-related restrictions.This may have affected the

14、 degree of optimism observed in respondents that took the survey after this announcement.Respondents were drawn from a variety of sectors,including innovation and technology,financial services,industrial markets,professional services and consumer markets.Among the respondents,37%held leadership posi

15、tions(20%C-level and 17%department head or equivalent).AbouttheSurvey20%17%33%30%Business executives from the Chinese Mainland participated in the 2023 KPMG Employment Trends Survey 682C-level or equivalentDepartment Head or equivalentManager or Senior ManagerAssistant Manager or belowBase:All respo

16、ndents in the Chinese MainlandSource:KPMG survey analysis4Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.

17、All rights reserved.Key TakeawaysOutlook Opportunities Expectations for headcount increases with higher demand for fee earnersCompetition for talent to remain strongIncreased salary expectations when making career moveBroaden access to talent pool and proactively engage with talent Respond to Push a

18、nd Pull priorities among key talentOffer compensation and benefits that resonate with employees and candidates Invest in upskilling to fill the skills gap across different levels of the organisation5Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KP

19、MG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Executive Salary Outlook 2023Headcount Outlook Salary and Bonus Outlook Talent ManagementBenefits Outlook Greater Bay Area Opportunities6Do

20、cument Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 Headcount Outlookof C-level and HR

21、respondents are expecting headcount increases at their organisation in 202340%Base:C-level and HR respondents in the Chinese Mainland who are expecting an increased headcount at their organisation in 2023 Respondents were invited to choose more than one answer Source:KPMG survey analysis66%Sales,fee

22、 earners,client relations36%Product34%28%14%10%14%Finance 11%Other front office functionsRiskESGITOperationsExpectations for increased headcounts are strong as businesses focus on revenue generating roles,product development and operational candidates.7Document Classification:KPMG Public 2023 KPMG,a

23、 Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.2023 Headcount Outlook Innovation and technologyDemand for talent involved in digital

24、isation and artificial intelligence remains strongFinancial servicesFocus on fee earning positions Professional servicesSector development depends on economic outlook and demand for outsourcing by corporates Industrial marketsPositive development outlook in new energy/EV/semiconductor/bio-pharma/hig

25、h-tech sectors Consumer marketsDemand for operational staff expected to be strong as the economy rebounds50%36%39%47%23%38%33%28%34%25%C-level and HR expecting headcount increasesAll respondents expecting headcount increasesOur C-level and HR respondents who typically have better insights into plann

26、ed hiring activities are more optimistic in their headcount outlook across the majority of sectors.David SiewPartner,People Services,KPMG ChinaPositive intentions among C-level and HR respondents suggest a robust growth in the employment market over the year ahead.8Document Classification:KPMG Publi

27、c 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Executive Salary Outlook 2023Headcount Outlook Salary and Bonus Outlook

28、Talent ManagementBenefits Outlook Greater Bay Area Opportunities9Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by gua

29、rantee.All rights reserved.Challenges Amid Turbulent Times Less Active Job SeekersChanged job in 202222%20%31%26%C-LevelDepartment Head or equivalentManager or Senior ManagerAssistant Manager or belowchanged job in 202226%of respondents Base:All respondents in the Chinese MainlandSource:KPMG survey

30、analysis(2021:34%)Rising inflation,hawkish monetary policies,and geopolitical issues created many uncertainties on economic growth.That made individuals less active in seeking out a job change in 2022.Angus LeungDirector,Executive Search and Recruitment,KPMG ChinaJob movement was down in 2022 compar

31、ed to the previous year,with C-level and Department Heads less active in taking on new roles than the Senior Manager or below levels.10Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated wi

32、th KPMG International Limited,a private English company limited by guarantee.All rights reserved.Salary ChangeAfter job changeAfter salary reviewIncrease of 30%or moreIncrease of 20%to 29%Increase of 10%to 19%Increase of less than 10%No changeDecrease Increase of 16%or moreIncrease of 10%to 15%Incre

33、ase of 6%to 9%Increase of 3%to 5%Increase of less than 2%No changeDecreaseAverage salary increment36%Average salary increment 13%Base:All respondents in the Chinese Mainland that changed jobs in 2022Source:KPMG survey analysisNote:Average salary increment is the mean of respondents with salary incre

34、mentBase:All respondents in the Chinese Mainland that stayed with the same employerSource:KPMG survey analysisNote:Average salary increment is the mean of respondents with salary increment10%31%17%21%5%16%4%15%19%8%15%4%35%Salary increments after a job change or a salary review remain at elevated le

35、vels highlighting efforts by employers to attract and retain talents.11Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited

36、by guarantee.All rights reserved.Average Salary Change in 2022 by SectorSubtitle whats hereGiven the elevated salary increments after changing jobs observed in 2022,there is expected to be continuous upward pressure on remuneration levels to attract and retain talent.Innovation and technologyFinanci

37、al servicesProfessional servicesIndustrial marketsConsumer marketsJob ChangeSalary ReviewNote:Average salary increment is the mean of respondents with salary increment38%46%42%27%20%14%15%16%10%16%12Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KP

38、MG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Average Bonus Payout in 2022Base:All respondents in the Chinese MainlandSource:KPMG survey analysisProfessional services3.79 months2.60 mon

39、ths1.55 months3.01 months1.57 monthsInnovation and technologyFinancial servicesIndustrial marketsConsumer marketsIn 2022,26%of the Manager or Senior Manager level and 51%of Assistant Manager or below level did not receive a bonus.C-Level 2.84monthsDepartment Head or equivalent 3.10 monthsManager or

40、Senior Manager2.96 monthsAssistant Manageror Below1.20 monthsOverall average:2.44 monthsShort-term incentive payments remained prevalent in the Chinese Mainland over the past year with 67%receiving a bonus(unchanged from 2021).13Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnersh

41、ip and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Expected Salary Increment for a Career Move in 2023Base:All respondents in the Chinese MainlandSource:KPMG su

42、rvey analysisIn the Chinese Mainland,the expectation for a salary increment is broadly the same across all sectors and all levels.Seven in ten respondents expect an increase of 20%or more when making a career move in 2023.Kitty LuDirector,Executive Search and Recruitment,KPMG ChinaIncrease of 30%or

43、moreIncrease of 20%to 29%Increase of 10%to 19%Increase of less than 10%No changeDecrease3%5%4%17%29%41%OverallAcross all grades,business executives and professionals have high salary expectations when changing jobs.14Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a mem

44、ber firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Executive Salary Outlook 2023Headcount Outlook Salary and Bonus Outlook Talent ManagementBenefits Outlook Greater Bay Are

45、a Opportunities15Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Top Drivers for Seeki

46、ng New Job Opportunities Base:All respondents in the Chinese MainlandRespondents were invited to choose more than one answerSource:KPMG survey analysisPULL FACTORSPUSH FACTORSSalary and compensation package72%Career progression and promotion69%Work flexibility and work-life balance42%Learning and de

47、velopment opportunities28%Job security19%Workload and work pressure18%Organisational culture18%Convenience/flexible work location16%Career progression and promotion62%Work flexibility and work-life balance49%Job satisfaction43%Stability25%Opportunities for learning and development24%Employer brandin

48、g24%Convenience/flexible work location16%Overseas working opportunities15%Comprehensive medical and insurance coverage13%Employers should obtain a holistic view on the motivations of existing employees to seek out new job opportunities,while understanding the key features that will attract the right

49、 candidates from outside the organisation.16Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights res

50、erved.Learning and Development Most Desired Skills by SeniorityC-levelManager orSenior Manager Department Head or equivalent44%Analytical decision-making,data analysis and data science39%Establishing strategic business partnerships 29%Mental elasticity,flexibility and openness to change 45%Analytica

51、l decision-making,data analysis and data science32%Interpersonal skills,communication and collaboration skills 27%Learning and application of new skill sets 47%Analytical decision-making,data analysis and data science35%Interpersonal skills,communication and collaboration skills 30%Commercial sense

52、and business awareness 52%Interpersonal skills,communication and collaboration skills44%Learning and application of new skill set 38%Analytical decision-making,data analysis and data science Although the skills and knowledge requirements for each seniority level may be different,analytical decision-

53、making,data analysis and data science appear to be a critical need across all levels.Investment in upskilling at different levels should address the pressing concerns that organisations may have about the skills gap.Angus LeungDirector,Executive Search and Recruitment,KPMG ChinaAssistant Manager or

54、BelowBase:All respondents in the Chinese MainlandRespondents were invited to choose more than one answerSource:KPMG survey analysis17Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with

55、 KPMG International Limited,a private English company limited by guarantee.All rights reserved.Executive Salary Outlook 2023Headcount Outlook Salary and Bonus Outlook Talent ManagementBenefits Outlook Greater Bay Area Opportunities18Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partn

56、ership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Compensation and Benefits Base:All respondents in the Chinese Mainland with a full-time jobRespondents we

57、re invited to choose more than one answerSource:KPMG survey analysis27%Life insurance coverage for you68%Medical benefits for self53%Flexible work(e.g.work from home,flexible hours or overseas remote work)32%Medical benefits for family members13%Employers additional(i.e.voluntary)contribution to ret

58、irement scheme21%Housing benefits,e.g.rental reimbursement and/or allowance31%Share options,share awards or long-term incentive awards 29%Transportation allowance21%Flexible benefits arrangement(e.g.you can choose benefits based on your needs)10%Life insurance coverage for family members10%Child edu

59、cation75%Flexible work(e.g.work from home,flexible hours or overseas remote work)71%Share options,share awards or long-term incentive awards 68%Medical benefits for you and/or family members58%Housing benefits,e.g.rental reimbursement and/or allowance54%Flexible benefits arrangement(e.g.you can choo

60、se benefits based on your needs)With the salary and compensation package being ranked as the top push factor for a job change,employers should understand what talents desire in order to offer competitive packages.Note:Benefits that were selected by less than 50%respondents were not included in this

61、analysisBenefits provided Most desired benefits19Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All right

62、s reserved.Benefits Outlook Most Desired BenefitsFlexible workShare options,share awards or long-termincentive awardsMedical benefits for you*and/or family members Housing benefits e.g.rental reimbursement and/or allowanceFlexible benefits arrangement e.g.choose benefits based on individual needsOpp

63、ortunities for employers Talents in the Chinese Mainland desire flexible work and share-based compensation the most,however many employers are not providing these currently.Compensation packaging is a way for employers to differentiate themselves and demonstrate a commitment to employee welfare,whil

64、e helping to retain and attract much-needed talent.Gabriel HoDirector,People Services,KPMG ChinaDesiredProvided75%53%DesiredProvided71%31%DesiredProvided68%68%*32%DesiredProvided58%21%DesiredProvided54%21%Base:All respondents in the Chinese Mainland with a full-time jobRespondents were invited to ch

65、oose more than one answerBenefits that were selected by less than 50%respondents were not included in this analysis Source:KPMG survey analysis20Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms aff

66、iliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Executive Salary Outlook 2023Headcount Outlook Salary and Bonus Outlook Talent ManagementBenefits Outlook Greater Bay Area Opportunities21Document Classification:KPMG Public 2023 KPMG,a Hong Ko

67、ng(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Greater Bay Area Opportunities 73%are willing torelocatefor work within ortothe Greater BayAr

68、ea78%63%63%Innovation andtechnologyFinancialservicesTrade/logistics/supplychainProfessional and consulting servicesHealthcare and life sciences62%40%36%31%26%Base:All respondents in the Chinese Mainland and Hong Kong SARRespondents were invited to choose more than one answer Source:KPMG survey analy

69、sisCareer prospects and higher income are key motivations for talent to consider relocation within the Greater Bay Area.Companies should have a mobility policy in place to encourage skilled personnel to move and work in different cities.Subsidies may need to be offered to staff as incentives,includi

70、ng housing and transportation allowances and additional medical insurance.Kitty LuDirector,Executive Search and Recruitment,KPMG ChinaThe GBA offers extensive opportunities for companies and talent to develop.Talents in the Chinese Mainland and Hong Kong(SAR)are willing to move to GBA cities due to

71、better prospects and work exposure.Broader work exposureBetter career and industry prospectsHigherincome22Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited

72、,a private English company limited by guarantee.All rights reserved.Contact Us Murray SareliusRegional Lead,Global Mobility Services,ASPAC Partner,People ServicesKPMG China+852 3927 Michelle HuiDirector,Executive Search and Recruitment KPMG China+852 2826 Angus LeungDirector,Executive Search and Rec

73、ruitment KPMG China+8621 2212 Kitty LuDirector,Executive Search and Recruitment KPMG China+8620 3813 David SiewPartner,People Services KPMG China+852 2143 GabrielHoDirector,PeopleServices KPMG China+852 3927 IsabelLiuDirector,PeopleServices KPMG China+852 2913 Hong Kong Executive Salary Outlook 2023

74、Employment Trends Survey Seventh Edition ChineseEnglish23Document Classification:KPMG Public 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.A

75、ll rights reserved.If you would like to find out more about our services,please scan the QR code or visit our webpage:https:/ acquiring the right talent,mobilising talent across borders,through to designing reward policies and navigating the tax and legal complexities,KPMG People Services provides a

76、 wide range of services to organisations and individuals to support their strategic and operational business needs.Talent acquisitionWorkforce mobilisationAttractand retainCompliance with lawsBusiness needsDelivered through our specialismsTaxImmigrationRewardLegal*Legal service is provided by SF Law

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78、 you.We have worked with many entrepreneursand provided bespoke advice on the best way to handle a wide variety of issues.Whether you are looking to start an innovative and fast-growing company or running an established one and looking for an exit,we can help you navigate any challenges you face fro

79、m family business,to family office and privatewealth,KPMG Private Enterprise has you covered.You gain access to KPMGs global resources through a single point of contact a trusted adviser to your company.We provide a local touch with a global reach.Our team has extensive experience and expertise in:E

80、xecutive Search and Recruitment ServicesWe are a business unit of KPMG People Services with over 20 years of experience serving clients across a wide range of functions and industries.We are able to draw on the deep sector knowledge and professional expertise of KPMGs global network.Working alongsid

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82、or visit our web page: offer our clients:A personal,long-term relationshipOur success is measured by the amount of repeat business we receive and the career success of our candidates.A wide range of customised servicesThis includes all aspects of the recruitment process,from advertising,executive da

83、tabase search to headhunting,tailored to meet our clients requirements.Our brand instils trust and confidence to facilitate an engaging and smooth recruitment process.A prestigious brandFamily governance advisoryWealth structuringFamily office set up and implementationRisk advisoryPhilanthropyTax an

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85、mited,a private English company limited by guarantee.All rights reserved.About KPMG ChinaKPMG China has offices located in 31 cities with over 15,000 partners and staff,in Beijing,Changchun,Changsha,Chengdu,Chongqing,Dalian,Dongguan,Foshan,Fuzhou,Guangzhou,Haikou,Hangzhou,Hefei,Jinan,Nanjing,Nantong

86、,Ningbo,Qingdao,Shanghai,Shenyang,Shenzhen,Suzhou,Taiyuan,Tianjin,Wuhan,Wuxi,Xiamen,Xian,Zhengzhou,Hong Kong SAR and Macau SAR.Working collaboratively across all these offices,KPMG China can deploy experienced professionals efficiently,wherever our client is located.KPMG is a global organisation of

87、independent professional services firms providing Audit,Tax and Advisory services.KPMG is the brand under which the member firms of KPMG International Limited(“KPMG International”)operate and provide professional services.“KPMG”is used to refer to individual member firms within the KPMG organisation

88、 or to one or more member firms collectively.KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world.Each KPMG firm is a legally distinct and separate entity and describes itself as such.Each KPMG member firm is respo

89、nsible for its own obligations and liabilities.KPMG International Limited is a private English company limited by guarantee.KPMG International Limited and its related entities do not provide services to clients.In 1992,KPMG became the first international accounting network to be granted a joint vent

90、ure licence in the Chinese Mainland.KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership,as of 1 August 2012.Additionally,the Hong Kong firm can trace its origins to 1945.This early commitment to this market,together with

91、 an unwavering focus on quality,has been the foundation for accumulated industry experience,and is reflected in KPMGs appointment for multidisciplinary services(including audit,tax and advisory)by some of Chinas most prestigious companies.Document Classification:KPMG PublicThe information contained

92、herein is of a general nature and is not intended to address the circumstances of any particular individual or entity.Although we endeavor to provide accurate and timely information,there can be no guarantee that such information is accurate as of the date it is received or that it will continue to

93、be accurate in the future.No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG In

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