SALARY SURVEY 2019 MIDDLE EAST & AFRICA
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SALARY SURVEY 2019 MIDDLE EAST & AFRICA
WELCOME TO ROBERT WALTERS
SPECIALIST PROFESSIONAL RECRUITMENT
“As a market-leading global recruitment group our purpose is clear - we power
people and organisations to fulfil their unique potential – and that’s what we’ve
been doing for over 33 years.
People are at the heart of everything we do from the job seeker, to the hiring
manager, to those who bring them together. Our candidates and clients see us
as a trusted advisor, helping them to fulfil career aspirations and build exceptional
teams over the long-term.
We do this through our collaborative culture and non-commission model which
ensures that candidate and client needs are front and centre.
Our candidates know that we’ll take the time to listen and advise them on the next
step in their career. It’s these relationships that enable us to offer our clients the
best talent on the market and that’s why they return to us again and again. We’re
also experts in the disciplines we recruit for enabling us to provide insight into
hiring and salary trends.
While our reach is global, we remain committed to providing our clients with local
market insight. We look to hire the best local talent to ensure we can offer a deep
ROBERT WALTERS, understanding of the local culture and market conditions. This sets us apart from
the competition and helps us remain a trusted recruitment partner to the world’s
CHIEF EXECUTIVE OFFICER
leading businesses.”
Robert Walters
CEO
Robert Walters plc
69%
OF OUR BUSINESS
IS FOCUSED ON
PERMANENT
RECRUITMENT, 31%
ON CONTRACT
GLOBAL REACH, LOCAL EXPERTISE Locations we operate in AUSTRALIA INDONESIA SOUTH AFRICA BELGIUM IRELAND SOUTH KOREA BRAZIL JAPAN SPAIN CANADA LUXEMBOURG SWITZERLAND CHILE MALAYSIA TAIWAN CHINA NETHERLANDS THAILAND FRANCE NEW ZEALAND UAE GERMANY PHILIPPINES UK HONG KONG PORTUGAL USA INDIA SINGAPORE VIETNAM
DOWNLOAD OUR SALARY SURVEY BOOKS
To discover hiring and salary trends across the world, read our Global Trends on page 10 or
download our books covering:
• Australia & New Zealand • Japan
• Brazil • Middle East & Africa
• Canada • South Korea
• Europe • United Kingdom
• Greater China & South East Asia
Download your copy today by visiting
www.robertwalters.com/salary-survey
OUR SERVICE
In an increasingly complex global recruitment market, the WHAT MAKES US DIFFERENT?
Robert Walters Group builds great teams for our clients by Bespoke, consultative service
offering an end-to-end recruitment service, on a local, regional
or global basis.
1. Commitment to quality
OUR CORE DISCIPLINES INCLUDE: We focus on building long-term, high-quality relationships
• Accounting & Finance with clients and candidates. We consult and advise, helping
• Banking & Financial Services our candidates make the right career move. This builds trust
and loyalty and ensures we continually have the industry’s
• Engineering top talent for our clients.
• Human Resources
• Legal 2. Specialists
• Marketing We hire from industry to ensure our consultants are
• Sales specialists in the disciplines they recruit for. They also
• Secretarial & Support bring with them strong personal relationships and industry
networks enabling them to find hard to reach talent with
• Supply Chain & Procurement
niche skill sets.
• Technology
Robert Walters has found I have found We had a dedicated team
us some great people. Robert Walters to be from Robert Walters who
They’re fast, friendly and professional, thorough provided consistency
very well connected. and responsive. They’ve and a great level of
I’ve worked with many introduced us to quality expertise in their relevant
recruiters over the years candidates who closely disciplines. The team
but the Robert Walters match our requirements clearly communicated the
team are without doubt and as a result we have recruitment process to
my favourite. made successful hires. us and provided sound
advice around the market,
Michael Acton Smith, Henry Loo, VP Data candidate experience and
Co-founder & CEO, Management and expectations.
Calm, USA Analytics, DBS Bank,
Hong Kong Sam Reynolds, Senior HR
Advisor, ARTC, Australia
3. No individual commission 5. Innovation culture
We operate a team-based profit share system which, we We were the first recruiter to launch a recruitment process
believe, sets us apart from the vast majority of our outsourcing business and we continue to lead the way with
competitors as it ensures the interests of both the client and industry-first sponsorships and brand development such as our
candidate remain our number one priority. There is also no sponsorship of the British and Irish Lions.
ownership of candidates ensuring clients always see the
best talent we have available.
6. Long-term business focus
Our strategy is one of organic growth through international
4. Our people and culture expansion and discipline diversification. We invest in markets for
We promote long-term, international careers helping us to retain the long-term and maintain our presence, even in tough times.
our top people which provides continuity for our clients. We’re
proud to say our senior management team is home-grown with
7. End-to-end recruitment service
an average tenure of 17 years.
We offer clients a true end-to-end recruitment service, from
permanent, contract and interim recruitment through to
recruitment process outsourcing.
CONTENTS
INTRODUCTION AFRICA
Global Trends................................... 10
Regional Trends................................ 12 SOUTH AFRICA
OVERVIEW....................................... 44
REGIONAL OVERVIEWS Accounting & Finance.................... 48
Australia & New Zealand.................. 14 Banking & Financial Services........ 49
Europe.............................................. 16 Legal................................................ 51
Greater China................................... 18
Japan & South Korea....................... 20 REST OF AFRICA
North America.................................. 22 OVERVIEW....................................... 52
South East Asia................................ 24 Central & Southern Africa.............. 57
United Kingdom............................... 26 East Africa....................................... 58
North Africa..................................... 59
MIDDLE EAST West Africa...................................... 60
OVERVIEW....................................... 30
Accounting & Finance.................... 36
Banking & Financial Services........ 37
Information Technology................. 39
Legal................................................ 40
Marketing & Retail.......................... 42
Sales................................................ 43
DOWNLOAD OUR
SALARY SURVEYS
SALARY SUR
AUSTRALIA VEY 2019
& NEW ZEALA
ND
SALARY SURV
EY 2019
BRAZIL
SALARY SURVEY 2019
CANADA
SALARY SUR
EUROPE VEY 2019
SALARY SURV
EY
GREATER CHIN 2019
SALARY A & SOUTH EA
SURVEY ST ASI A
JAPAN 2019
SALARY SURV
MIDDLE EAST EY 2019
& AFRICA
SALARY SURV
EY
SOUTH KORE 2019
A
SALARY SURVEY
20
UNITED KINGDO 19
M
DOWNLOAD OUR SALARY SURVEY BOOKS
Drawing on our local knowledge and expertise across six continents we’ve
produced a series of books covering:
• Australia & New Zealand • Japan
• Brazil • Middle East & Africa
• Canada • South Korea
• Europe • United Kingdom
• Greater China & South East Asia
Download your copy today by visiting
www.robertwalters.com/salary-survey
WELCOME TO THE 20TH
EDITION OF THE GLOBAL
SALARY SURVEY PROVIDING
CREDIBLE INSIGHT INTO
HIRING AND SALARY TRENDS
WORLDWIDE.
8 Robert Walters Salary Survey 2019
ABOUT THE Our Salary Survey is based on the
analysis of permanent, interim and
SALARY SURVEY contract placements made across each
of our geographies and recruitment
Welcome to the 20th edition of the disciplines during 2018, and our
Robert Walters annual Salary Survey. predictions for the year ahead.
As the first recruitment company to GET IN TOUCH
produce a comprehensive overview of If you would like to find out more about
global salaries and recruitment trends salaries and recruitment trends in
across the world, we are pleased to your industry, call one of our specialist
share the latest edition with you. consultants today. Contact details can
be found at the back of this book.
ABOUT THE SALARY SURVEY 9GLOBAL TRENDS
investment and hiring across all sectors programmes and hiring was up across
as the business-friendly government the region.
eased employment regulations.
South East Asia experienced a buoyant
Businesses in Belgium expanded and recruitment market in 2018, with rapid
hiring in Germany and Ireland increased growth across Indonesia, Philippines,
across multiple disciplines. In Spain, Thailand and Vietnam. This was driven
we saw greater demand for bilingual by foreign direct investment and
candidates, especially for accounting the continued entry of multinational
and human resources roles. companies. In comparison, hiring in
Singapore and Malaysia was modest
The positive economic climate led and stable as companies sought fewer
to a candidate driven market in the but better-skilled professionals.
Netherlands, with candidate shortages
especially acute at the junior to mid- In Japan, local and foreign companies
level. Switzerland remained the outlier competed for bilingual candidates with
with only minimal shifts in hiring international experience, putting pressure
GILES DAUBENEY, DEPUTY volumes in 2018. on this already scarce talent pool. Overall
CHIEF EXECUTIVE OFFICER the market remained candidate driven
In the UK, employers faced candidate and this will continue in 2019.
GLOBAL OVERVIEW shortages as professionals proved
“Overall the global hiring market was reluctant to switch roles due to the Greater China experienced strong
buoyant in 2018, with most markets uncertainty surrounding Brexit. The economic growth in 2018, boosting
reporting an increase in hiring due technology industry continued to grow
to positive economic conditions and and hire aggressively.
employer confidence. Many markets
continued to face candidate shortages, Across Africa, there was a surge in With talent shortages set to
especially in relation to bilingual demand for returning professionals with continue in 2019, we advise
professionals and those with specialist international experience as businesses companies to streamline their
digital skills. sought to implement international best
recruitment processes to avoid
practice and support government
Across Europe, the recruitment market nationalisation policies. Businesses in losing out on top talent.
went from strength to strength in the Middle East also focused on hiring
2018. In France, we saw an increase in local talent in support of nationalisation
10 Robert Walters Salary Survey 2019employer confidence and hiring activity region, there was widespread demand to avoid losing out on top talent. Hiring
across the region. for risk, compliance and legal talent. managers should also clearly articulate
the company’s mission, strategy and
The Australia and New Zealand markets Regulatory pressure in the UK and values at interview stage to differentiate
showed steady growth and modest Australia led to high demand for themselves from the competition. In
salary increases in 2018, although compliance and risk professionals and addition, for scarce skill sets, employers
pressure is growing for a long-awaited this is set to continue in 2019. are advised to hire ambitious, fast
uptick in salaries in 2019. learners, even if they are not an exact fit
In Germany and Ireland, we expect to for the job description.
KEY TRENDS see even greater demand for regulatory
Global shortage of digital skills professionals across risk, audit, Retaining staff will remain a top
The global demand for digital and compliance and legal, as the UK is priority in 2019 so, on top of paying
technology skill sets continued apace scheduled to exit the EU in 2019. competitive salaries, employers should
and shows no sign of slowing in 2019. continue to invest in learning and
Advice to employers development, benefits packages,
In Australia, digital transformation With talent shortages set to continue flexible working and employer
was prevalent across many industries in 2019, we advise companies to branding.”
leading to sustained demand for streamline their recruitment processes
development and digital specialists.
Similarly, in South East Asia,
digitalisation remained a key trend THE GLOBAL DEMAND
with cyber security, big data and AI FOR DIGITAL AND
specialists highly sought after. TECHNOLOGY SKILL
SETS CONTINUED
In San Francisco, blockchain and
cryptocurrency were growth areas, APACE AND SHOWS
and start-ups utilising machine learning NO SIGN OF SLOWING
and AI continued to attract talent as IN 2019.
candidates sought to be on the cutting
edge of technological advancements. In
Japan, roles related to data utilisation,
AI development/deployment and
infrastructure, rapidly increased across
all industries.
Across Greater China, demand for
top-tier talent experienced in high-
tech and digital transformation
projects outstripped supply. Candidate
shortages were also a concern for the
UK’s growing technology industry as
businesses faced stiff competition for
software developers and engineers.
Risk and compliance talent in high
demand
While hiring across the banking and
financial services sector varied by
GreaterChinaexperiencedstrongeconomicgrowthin2018,boostingemployerconfidenceandhiringactivityacrosstheregion. 11REGIONAL TRENDS With our presence spanning 29 locations across six continents our specialist teams offer in-depth knowledge of the sectors they recruit for. In this section our regional managing directors share their insights on hiring and salary trends in 2018 and their predictions for the year ahead. Our regional overviews include: • Australia & New Zealand • Europe • Greater China • Japan & South Korea • North America • South East Asia • United Kingdom
THE GROUP’S INTERNATIONAL NETWORK OF OFFICES SPANS 29 LOCATIONS AND SIX CONTINENTS ENABLING US TO MEET THE DEMANDS OF CLIENTS AND CANDIDATES WHOSE NEEDS EXTEND BEYOND LOCAL MARKETS
AUSTRALIA & NEW ZEALAND
INTRODUCTION INFRASTRUCTURE DRIVING
“The Australia and New Zealand DEMAND Our presence in Australia &
markets continued their trajectory of The skylines of most major cities New Zealand:
steady growth in 2018, without ever in Australia and New Zealand are
threatening to break out into all-out currently dotted with cranes, as national • Adelaide
booms. infrastructure projects continue. Civil • Auckland
engineers and project managers will • Brisbane
Salary growth has generally been be highly sought after in 2019 to help • Chatswood
modest for the past three years and deliver new roads, railways, hospitals,
• Melbourne
pressure is gradually building for a schools, stadiums and hotels. We
possible uplift in wage levels in 2019. expect an increase in demand for • Parramatta
ancillary roles too, such as architects, • Perth
Several industry sectors are interior designers and lawyers with • Sydney
experiencing high demand for qualified relevant contract expertise. • Wellington
talent in specialisms where there
is limited supply. The most notable TECH POWERING GROWTH
pressure points apply to specific roles in In the technology space, we will see cyber security professionals, who are
infrastructure, technology, and banking demand for numerous IT specialists already in short supply. Organisations
and financial services. continue unabated in 2019. High-profile from every industry and sector will
security breaches and regulatory continue their digital transformations,
scrutiny are increasing the value of leading to sustained demand for
14 Robert Walters Salary Survey 2019development and digital specialists. recruitment market remained buoyant in Overall, heading into 2019, we believe
Likewise business intelligence, 2018. As Australians head to the polling the Australian and New Zealand hiring
automation and data management booths in 2019, employers will hope market remains in good shape.
professionals will be sought to help that the next government does not put
companies rebuild services and the brakes on hiring flexible workforces Many of the ingredients are in place for
products around customer behaviour. to deal with short-term supply issues. a positive year and, after a few years
of modest wage rises, pressure is
FINANCE REGULATION As in Washington and London, anti- gathering for a long-awaited uptick in
TIGHTENS immigration rhetoric has reverberated salaries.”
The banking and financial services along the corridors of power in
sector in Australia felt the sting of Wellington and Canberra during 2018. James Nicholson
media criticism and public discontent Managing Director
during 2018, as revelations of Australia & New Zealand
misconduct were laid bare by the
Royal Commission. Consequently, the The skylines of most major
regulatory crackdown will continue cities in Australia and New
in 2019, with the number of risk Zealand are currently dotted
and compliance roles substantially with cranes, as national
outstripping supply. infrastructure projects
continue.
ADVICE FOR EMPLOYERS
Given the shortage of local talent in
many sectors, 2019 is shaping up to be
a challenging year for hiring managers. Some employers fear their growth
Part of the answer will lie in the power could be stifled by further restrictions
of networks: knowing where the market upon hiring overseas talent. In 2019,
is heading, who the talent is, where to we hope economic pragmatism will
find them and how to secure them. prevail over populism.
The other essential part will be to
think long-term: hiring and training
graduates with the right aptitude, as
well as upskilling existing personnel.
For example, with new or emerging
roles such as conduct risk managers
there are very few experienced
specialists in the market. Employers
may need to respond by training
existing personnel to identify and
mitigate risk.
POLITICAL OUTLOOK
In New Zealand there was concern
that the new government may dent
business confidence, however the
15EUROPE
2018 TRENDS for engineering and supply chain
“The European recruitment market professionals was also high thanks to Our presence in Europe:
went from strength to strength in large-scale investment in new plants • Belgium
2018. Overall hiring levels were high, and factories. As a consequence, HR, • France
underpinned by a growing economy, legal and finance professionals were in • Germany
increased investor confidence in high demand.
• Ireland
the eurozone and UK-based roles
• Luxembourg
transferring to the region due to The continued economic upturn in
Brexit, all of which led to businesses the Netherlands led to an extremely • Netherlands
aggressively hiring new talent. candidate driven market at all levels of • Portugal
seniority, with shortages most apparent • Spain
In France, the strong market conditions at the junior to mid-level. In an attempt • Switzerland
of 2017 continued into 2018 with to attract talent early, high-potential
companies actively recruiting across students were beginning to be offered
the market. The economic climate contracts for finance and banking roles for bilingual candidates, especially for
was reinforced by a business friendly whilst still at university. accountants and customer services
government easing employment specialists.
regulations. This bolstered confidence In Belgium, recruitment levels remained
leading to investment across all sectors. high as businesses expanded in Hiring levels increased in Ireland
In particular, the number of construction response to the positive economic resulting in high demand for candidates
projects increased. The demand climate. There was also strong demand across multiple specialisms.
16 Robert Walters Salary Survey 2019In response, businesses focused The biggest issue for the region will be driven, with hiring managers needing
on reducing time to hire, improving keeping up with demand as candidate to move quickly and be more flexible in
employer brand, staff retention and shortages are already present and are order to secure top talent. As pressure
benefits packages whilst offering more expected to intensify over the next on talent pools continues to increase,
remote and flexible working options. 12 months. employers will need to raise salaries
of highly sought-after professionals in
Switzerland saw minimal shifts in hiring In the Netherlands, hiring shortages will order to remain competitive.
volumes in 2018 with only a couple of become more acute across all sectors
pockets of increased activity. The luxury but will also move upward in seniority. In Ireland, the job market will remain
sector had a more positive outlook in Within finance, the standardisation strong, with hiring continuing across
comparison to 2017 and the financial of financial processes will decrease most sectors. Britain’s departure from
services industry saw an increase in the demand for operational and the EU will lead to an extremely high
corporate banking hiring from both local transactional professionals and increase demand for regulatory professionals
and international companies. the demand for candidates with strong across the risk, compliance, legal and
analytical capabilities. finance sectors, leading to a persistent
Confidence in the German economy skills shortage. Securing and retaining
continued to rise which led to significant The demand for new hires in France top talent will mean offering competitive
hiring activity across a vast array of shows no sign of slowing down, but salaries, but employers will also need
disciplines. In Frankfurt, banking and this must be considered within the to focus on promoting their brand and
financial services hiring across risk, context of growing skills shortages company culture.
audit, finance, compliance, legal and which will once again drive up salaries.
regulation increased as roles were HR professionals are most likely to be In Spain, the employment market
transferred from the UK due to Brexit. highly sought after, as in all sectors will continue to be buoyant as IT and
Outside of financial services, we saw a companies are becoming acutely engineering businesses continue to hire
continued trend for digitalisation both in aware of the need to retain employees, at great pace. We also expect to see
marketing and technology. especially those at a senior level. more hiring activity across finance, legal
and HR as many small businesses grow
In 2018 Spain benefited from the In Belgium, we expect organisations and larger players try to defend their
positive macroeconomic situation in to continue to expand and create market position.”
Europe. Hiring was strongest in the new jobs. The demand for bilingual
information technology, manufacturing, candidates will remain high, especially Antoine Morgaut
energy and construction sectors where in the Brussels region. The Belgian CEO
businesses focused on hiring engineers labour market will remain candidate Europe & South America
and digital transformation specialists.
English speaking professionals were
highly sought after as companies
strengthened their accounting and
human resources functions.
2019 FORECAST
Europe is expected to continue its
strong economic growth in 2019,
resulting in a favourable recruitment
market with confidence remaining high
among professionals and employers.
17GREATER CHINA
“In 2018, we witnessed strong MAINLAND CHINA
economic growth across the Greater Supported by various national initiatives Our presence in Greater China:
China region and an overall optimistic such as Manufacturing 2025, Belt and
outlook which drove an increase in Road and ‘Internet Plus’, Mainland • Beijing
hiring activity. China’s outbound investment and • Shanghai
development of innovative technology • Suzhou
Technology is fundamentally changing maintained an upward trajectory in • Southern China
the hiring landscape across the region 2018. Demand for top-tier talent in high- • Hong Kong
as businesses seek to digitalise end technology such as virtual reality
• Taipei
and become more technologically (VR), AI, Internet of Things (IoT) and
advanced. Hiring managers are machine learning dramatically exceeded
competing to secure recruits from supply as businesses fought to attract
a limited pool of candidates with individuals with relevant experience. both regionally and globally. As a
experience in high-tech and digital result, many companies across a wide
transformation projects. IT professionals Mainland China is now one of the range of industries have been seeking
in several specialist areas, including AI, leading global investors in digital professionals who are both familiar
business intelligence, cyber security, technologies and e-commerce. with global business and proficient in
automation and analytics continued to Previously, China’s e-commerce English, putting the level of demand
be in high demand throughout 2018. industry had a stronger domestic for bilingual talent at an all-time high,
focus but we are now seeing in particular for those with international
e-commerce businesses expanding experience.
18 Robert Walters Salary Survey 2019At the same time, the Southern China TAIWAN LOOKING AHEAD
region is now known as Mainland Taiwan continued to grow at a steady Professionals who thrive on change
China’s open innovation centre and is pace as it has done over the past stand to gain the most in 2019, as
home to technological leaders as well decade. The country also sustained organisations continue to embrace
as many digital start-ups. The heavy strong export momentum in 2018 new ways of working, led by digital-first
investment in data and research centres and there were signs of recovery in strategies. At the same time, digital
has driven demand for talent, not only the retail sector. Job volumes grew technologies have already dramatically
from other parts of Mainland China but considerably across multinational and impacted the culture around work and
also other countries in Asia and across local companies in 2018. the evolution of “smart workplaces”.
the world. Employers should consider adopting
The Taiwan government is new digital technologies and platforms
HONG KONG implementing a Green Energy Industries to create positive employee
Hong Kong started 2018 with robust and Technological Innovation plan to experiences, helping to attract and
economic growth and buoyant boost renewable energy development, retain employees, in particular
recruitment levels, supported by solid leading to international wind power millennials.
global demand for Hong Kong products turbine makers and installers setting
and services, a rebound in visitor up regional operational headquarters Staff retention will continue to be a top
numbers and a strong economy in in Taiwan. This is driving demand for priority for all organisations in 2019
Mainland China. At the same time, the HR, engineering and supply chain and we advise that, in addition to
Guangdong-Hong Kong-Macao Bay professionals. paying competitive salaries, companies
Area and the Belt and Road initiatives need to examine multiple factors,
are encouraging strategic partnerships Despite a growing skills shortage, such as corporate culture, employer
within the region and a flow of talent pay increases remained conservative branding, learning and development
between Hong Kong and Mainland for professionals who stayed in the opportunities, career progression and
China. same role. This can be attributed to international mobility in order to retain
the stability and maturity of Taiwan’s the best talent.”
Financial institutions and companies job market; professionals have grown
across different industries sought to accustomed to this degree of wage Matthew Bennett
actively increase headcount, with stagnation. Managing Director
businesses often hiring for several Greater China
positions at once, in contrast to the
previous five years when simultaneous
recruitment was only seen in niche
areas.
There continued to be strong
demand for professionals with the
technical expertise to help companies
implement digitalisation projects.
Skill sets in highest demand included
cloud computing, big data, DevOps,
e-commerce, analytics, cyber security
and fintech.
19JAPAN & SOUTH KOREA
JAPAN such as autonomous driving and smart
“In 2018, there was high and sustained supply chain. Our presence in Japan & South
demand for bilingual professionals with Korea:
international experience, as Japanese Whilst AI continued an upward trend, the
companies sought to ‘go global’ demand for talent remained high in 2018 • Osaka
bolstered by their confidence in the as companies sought various skill sets, • Seoul
domestic economy. Foreign companies including professionals experienced in • Tokyo
with operations in Japan sought to building data-informed strategies and
attract the same professionals, putting client liaison roles.
pressure on this already scarce talent demand fall for clerical staff across some
pool. Automation specialists were highly companies, particularly large financial
sought after as many companies looked institutions.
We saw the government’s vision for a to leverage cutting-edge technologies
smart society, Society 5.0, begin to take such as Robotic Process Automation Elsewhere, we saw an uplift in demand
shape as the number of roles related and machine learning to increase for sales and marketing staff in the
to data utilisation, AI development/ efficiency and improve employees’ work- consumer goods and hospitality
deployment and infrastructure, rapidly life balance. industries, as tourist numbers grew
increased across all industries. As in the lead up to the 2020 Olympics.
the country geared up to rollout 5G With automation giving employees more However, hospitality companies
by 2020, we saw an increase in job time to focus on work with a direct struggled to hire bilingual specialists as
openings related to IoT technologies impact on the bottom line, we saw demand increasingly outstripped supply.
20 Robert Walters Salary Survey 2019The Integrated Resort Implementation conglomerates are making substantial started focusing on automation and
Bill also came into force which will investments in creating new roles, smart factories as possible solutions to
eventually result in large-scale hiring especially in the semiconductor and AI increased labour costs and the
across the hospitality industry as sectors, which are considered the most consequent decline in profit margins.
companies make plans to develop important components of the Fourth This led to a notable increase in hiring
facilities such as casinos, hotels and Industrial Revolution. in these areas, resulting in a rise in
exhibition centres. demand for professionals with expertise
in AI and deep learning. We expect
The sustained labour shortage will The sustained labour these trends to continue in 2019.”
continue to drive a competitive job shortage will continue to
market in 2019 giving jobseekers greater drive a competitive job Jeremy Sampson
opportunities and leverage. market in 2019 giving Managing Director
jobseekers greater Japan & Korea
As a result, employers will need to excite opportunities and
candidates with their company’s vision leverage.
and growth potential as well as offer
competitive compensation, learning and
development opportunities and a clear A planned increase in the minimum
career path to attract the best talent. wage and the implementation of the
52-hour work week began to affect
We also advise companies to streamline businesses across the country in the
their recruitment processes to avoid second half of 2018. As a result, we
losing top talent to competitors with have seen a significant increase in
quick interview and selection processes. demand for HR professionals with
compensation and benefits experience
SOUTH KOREA and we expect this to continue in 2019.
Despite challenging conditions, such
as the US-China trade war and the With the minimum wage set to rise by
widening interest rate gap between over 10% in 2019, many companies
South Korea and the US, foreign direct
investment (FDI) reached a record high
in 2018. This boost in FDI was driven by
a boom in the semiconductor market,
increased investment in the financial
sector and eased geopolitical risks
following the US-North Korea summit.
Domestic production and the number of
jobs are expected to increase as large
amounts of reported FDI have been
made in the form of greenfield projects.
Keeping pace with the government’s
job creation policy, South Korean
21NORTH AMERICA
SAN FRANCISCO Salaries increased by around 5-7% in
2018 2018 and while it’s too early to predict if Our presence in North
“Recruitment levels in the San Francisco it will continue to rise at the same pace America:
Bay Area in 2018 were exceptionally in 2019, we certainly do not expect
high, driven by business growth and a compensation levels to decline. • Los Angeles
candidate short market. • New York
2019
• San Francisco
Technical talent was in highest demand, Venture capital firms will continue to
with senior software engineers extremely inject new capital into the early and • Toronto
sought after. Experienced designers, growth stage start-up ecosystem in
product marketers and HR/people 2019.
operations professionals were in short As competition for top talent continues
supply, while demand for finance and Whilst the number of vacancies in to escalate, companies should focus on
business operations talent remained people operations was in sync with streamlining their recruitment processes.
consistently high. the number of jobseekers in 2018, we Employee retention will remain a
expect this to change in 2019 as more challenge for tech firms in the
Blockchain and cryptocurrency companies look to hire for this function. San Francisco Bay Area as competing
were growth sectors, and start-ups companies will continue their attempts
utilising machine learning and artificial We anticipate that senior engineers, to lure staff away with lucrative
intelligence continued to attract talent. especially engineering leaders, will compensation packages.
Fintech, edtech, and healthtech were remain the most challenging candidates
also active hiring sectors. to hire.
22 Robert Walters Salary Survey 2019Mission-driven companies will have a only increased by about 2-5%. In 2018, in IFRS legislation. General counsel and
better chance of attracting and retaining fringe benefits like flexible working hours, compliance managers looked to secure
candidates, but no company is immune gym membership and free food have practice-trained lawyers with expertise in
to the disruption of candidate churn. been embraced by many organisations, IIROC and SEC regulations, as Canadian
however they may need to be more asset management firms continued to
Overall, we expect a hiring boom in creative when trying to compensate and expand into the US.
2019, with unrelenting competition retain key staff in 2019.
for top talent. Emerging technologies Inflation hit 3% in Canada and brought
like blockchain, machine learning, We expect to see robust hiring levels in salary increases of just above that for
and autonomous vehicles will keep the first half of 2019, driven by tax cuts most professionals. Those moving
attracting candidates who want to be and increased government spending. jobs saw average salary increases of
on the cutting edge of technological This will cause salaries to inch upwards 7-11%. Tax, internal audit and regulatory
advancements. next year. However, potential increases compliance professionals saw increases
in trade tariffs could destabilise financial closer to 11-15%.
NEW YORK markets and lead to a fall in sales for
2018 major companies, resulting in hiring 2019
Record levels of low unemployment freezes or wage stagnation as we move In 2019, ‘Big 4’ trained CPAs 18-24
and a decade of economic growth into 2020. months out of practice will be in high
in the US meant that competition for demand, due to their highly desirable
qualified candidates continued, with TORONTO hybrid skill set of external audit plus
candidates sometimes entertaining 2018 hands-on accounting experience,
three or four job offers at a time. The An influx of start-up technology particularly at the controller/VP finance
candidate shortage forced companies companies, the expansion of the level.
to improve their efforts to retain talented real estate investment market and a
workers, resulting in more flexible work continued focus on improving controls Lawyers with strong M&A deal
environments and other benefits not and governance within large financial experience in burgeoning sectors like
common a few years ago. institutions led to a buoyant recruitment pharmaceuticals, cannabis, IT and real
market in Toronto. Professionals in estate, as well as compliance officers
2019 accounting and finance, as well as legal with dual Canadian and US regulatory
Demand for compliance and legal and compliance, were in high demand. knowledge will also be in demand.
professionals in banks, as well as risk
management specialists in hedge funds Increasingly seen as the ‘Silicon Hiring managers will need to streamline
and buy-side companies, will be high. Valley North’, demand for STEM interview processes to ensure they keep
In technology, data science and cyber graduates with the ability to work in a millennial candidates, or they will risk
security will continue to be key hiring start-up environment was high. When losing them to nimble start-ups that
areas. recreational cannabis became legal in move at a rapid pace and often offer
October 2018, companies in cannabis equity even for junior to mid-level staff.”
Sales and marketing will continue to production and distribution grew rapidly
drive hiring in commerce, primarily at and sought out any qualified candidates Simon Bromwell
the junior to mid-level with businesses with professional experience in the Managing Director
struggling to hire at these levels in 2019. sector. North America
Hiring managers will need to maintain
a sense of urgency in the recruitment Financial reporting accountants with
process to secure top talent. large scale consolidations experience
Despite the tight labour market and a were in demand, as firms grappled with
decade of low unemployment, salaries tighter reporting deadlines and changes
23SOUTH EAST ASIA
2018: A DYNAMIC GROWTH Hiring in Malaysia and Singapore was
LANDSCAPE stable and modest in 2018 compared Our presence in South East Asia:
“In 2018, hiring across South East to the other South East Asian markets.
Asia was buoyant, with rapid growth In these more established markets, • Indonesia
across the maturing economies and a companies sought fewer but better • Malaysia
noticeable evolution in hiring needs in skilled professionals whose expertise • Philippines
the more established markets. and experience could add significant • Singapore
value. We expect this to continue in • Thailand
Indonesia, Philippines, Thailand and 2019.
• Vietnam
Vietnam all showed strong levels
of hiring as organisations sought to STRONGER INDUSTRIAL
expand their teams to fuel continued PRESENCE
growth. The continued entry of South East Asia’s role as an industrial This stimulated demand for
multinational companies and foreign hub within Asia looks set to grow professionals with industrial experience
direct investment were key drivers of due to a greater injection of foreign across a range of roles, including
growth in these markets. We saw stiff investment into the region, particularly engineering, manufacturing, supply
competition for skilled and experienced from China. In 2018, a number of new chain, sales and marketing, finance and
talent in 2018, and we expect these entrants set up operations and existing human resources.
markets to maintain their robust growth players expanded their footprint,
momentum in 2019. bolstering confidence and hiring activity.
24 Robert Walters Salary Survey 2019CONTINUED PUSH TOWARDS HIRING ADVICE To overcome skill shortages in certain
DIGITAL Businesses in the region are placing sectors, companies should also expand
Digitalisation remains a key trend more focus on employee retention by their pool of candidates and reach out
influencing hiring across the region investing in training, offering benefits to local professionals residing overseas.
and sustaining the high demand for IT such as flexible working arrangements Our ‘Return Home’ campaigns –
talent. The growth of cyber security, big and providing attractive counter-offers Pulang Kampung (Indonesia), Balik
data and artificial intelligence has driven for their top talent. As such, employers Bayan (Philippines), Balik Kampung
the need for IT specialists in these niche looking to hire skilled professionals will (Singapore) and Come Home Phở
areas. need to do more to secure the talent Good (Vietnam) – have helped
they want. businesses in the region identify and
The impact of digitalisation, however, hire overseas returning professionals
reaches far beyond the technology with the necessary expertise, skill sets
sector and we have seen significant and international experience.
demand for professionals with relevant Businesses are looking to
digital capabilities. This includes expand out of the country 2019: A POSITIVE OUTLOOK
marketers with digital and e-commerce and this has driven demand There are several elections being
expertise, supply chain and logistics for “glocal” talent, or local held across South East Asia in 2018
experts with knowledge in automation talent with international and 2019, and these typically have
and machine learning and HR experience. some impact on recruitment activity.
professionals with experience using the Assuming political stability, we expect
latest HR technologies. the recruitment markets in South East
Asia to maintain their dynamic growth
AN EVOLUTION IN HIRING This includes providing a competitive in 2019.”
NEEDS salary and benefits package, acting
Across the region, we have seen an swiftly and maintaining good Toby Fowlston
increased effort by companies to hire communication throughout the Managing Director
local talent, in part due to government recruitment process. Most importantly, South East Asia
policies and recommendations. At the it’s about showing genuine interest in a
same time, businesses are looking to candidate’s future, and demonstrating
expand outside of the country and this how he or she will be an integral part of
has driven demand for “glocal” talent, or the organisation.
local talent with international experience.
For less mature markets, employers
often sought professionals with
experience working in more developed
markets to lead growing teams.
Companies, particularly those in the
more mature markets, are also looking
to refine and optimise their
recruitment processes and we have
seen a larger number of companies
moving to recruitment process
outsourcing solutions.
25UNITED KINGDOM
2018 TRENDS centres outside of London. Manchester,
“Despite high demand for specialist Leeds and Birmingham have been Our presence in the UK:
and highly skilled mid-level and senior particularly successful in positioning
professionals, employers had to contend themselves as regional ‘tech-hubs’, • Birmingham
with a UK-wide candidate shortage attracting talent that would have • Bracknell
across most disciplines. Uncertainty historically migrated to London. • Leeds
around Brexit appeared to be creating • Liverpool
a fear of ‘last in first out,’ which in turn The technology industry was one of • London
meant candidates were less willing to the fastest-growing markets across the
• Manchester
move roles as swiftly as they had in whole of the UK and given the innovative
previous years. and highly skilled nature of the industry • Milton Keynes
there was an ongoing shortage of • St Albans
The UK remained a ‘two-speed suitably qualified candidates.
economy’ with London-based financial
services firms experiencing slow growth The demand for software developers paying premiums for experienced
due to Brexit-related concerns, while and engineers was especially high, lawyers across most skill sets.
non-financial services companies leading to inflated salary expectations
outside of London experienced much amongst candidates. The demand was in part due to a lack
faster growth. This was partly due to the of lawyers at the 2-4 years PQE level.
volume of large companies setting up Hiring across the legal sector became This was caused by a reduction in the
secondary offices and shared service increasingly competitive leading to firms number of trainees being hired a few
26 Robert Walters Salary Survey 2019years ago, coupled with the increase in is likely to continue. Technology aligned order to support areas of growth within
European regulations, creating a spike companies and venture capital-backed the business.
in demand for both in-house and private start-ups show no sign of slowing
practice lawyers. In fact, a number of down, and the rate at which they Our recommendation to candidates who
venture capital-backed start-ups hired continue to attract investors will be a are looking for a new role would be to
their first legal counsel in 2018. big pull for candidates who are looking embrace digitalisation and innovation to
to future-proof their careers. Hiring in ensure they remain current and relevant
In commerce and industry, demand the technology sector will remain high to changing working practices.
for finance professionals remained in areas such as Manchester, Leeds
strong across the UK at all levels from and Birmingham with further expansion In-demand professions or specialist roles
part-qualified accountants through expected in these regions. will continue to command premiums,
to finance directors. As candidates but general salary inflation will be subject
now understand their worth they are to, and defined by, the outcome of Brexit
increasingly pushing for commercial or and other variable macroeconomic
strategic roles rather than core reporting The outcome of Brexit will conditions.”
positions. be the key determinant of
hiring market conditions Chris Hickey
Due to uncertainty around Brexit, in 2019, especially for the CEO
banks and financial services firms financial services sector. UK, Middle East & Africa
took a relatively cautious approach
to recruitment characterised by
replacement hiring. Compliance,
risk and audit were exceptions, with We advise businesses facing candidate
professionals in these areas highly shortages to be flexible and consider
sought after due to pressure from hiring professionals with transferable
regulators. skills. Companies should consider
taking on candidates who are ambitious
In comparison to the previous year we and fast learners, even if they are not
saw salaries rise faster in 2018 but on an exact fit for the job description, in
the whole increases were not significant
unless professionals were working in a
market short of qualified professionals,
such as technology or compliance.
2019
The outcome of Brexit will be the key
determinant of hiring market conditions
in 2019, especially for the financial
services sector. However, despite Brexit,
there will be pockets of intense hiring
activity within financial services driven by
demand for skills such as compliance,
risk and audit. We will also continue to
see traditional finance functions hiring
at all levels as general business growth
27LOCAL TRENDS - MIDDLE EAST & AFRICA In this section we delve deeper into the hiring and salary trends we expect to see across our local markets in 2019. The locations covered are: ●● Middle East ●● South Africa ●● Central & Southern Africa ●● East Africa ●● North Africa ●● West Africa
DUBAI
Middle East
2018
The Middle East experienced a positive year with a significant increase
in hiring across the region compared to previous years.
Companies continued to focus on recruiting local talent as part of their nationalisation
programmes across the region. This led to fewer relocations by international
professionals and, in some cases, added to the departure of expats from the region.
An increase in hiring was seen across retail, sales, marketing and technology as
businesses looked to expand. Many local and international financial services firms also
expanded their teams, with growth in hiring highest in Kuwait City, Riyadh and Dubai.
Countries within the Gulf underwent extensive changes due to the introduction of
VAT and while a rise in demand for tax specialists was predicted, in reality these
requirements were outsourced to companies with experienced tax teams. Instead,
demand for traditional accountants and analysts continued to dominate the market.
The UAE still serves as one of the most important regions in the Middle East for its
contribution to the economy. The greatest demand was for junior-mid-level professionals,
particularly for accountants, project managers and sales managers. Construction dispute
lawyers were in highest demand as construction projects continued to be launched across
Dubai and Saudi Arabia. Salaries remained steady in the UAE at the mid-junior level,
whilst salaries at the senior end decreased due to the surplus of senior professionals.
Saudi Arabia went through a period of huge change, due to the implementation
of the Saudi government’s 2030 visionary plan. Two years into this plan and we have
already seen huge momentum in the recruitment market, with particular focus on the public-
health sector. As part of this plan, a large part of the population was mobilised for work
and for the first time in some regions and sectors, we saw women in the workplace.
Companies continued to
Kuwait remained busy, with a particularly buoyant job market within
focus on recruiting local
financial services. This is a bright corner of the Middle East and although
talent as part of their
it does not receive the same press coverage as its larger neighbours,
nationalisation programmes
from a recruitment point of view it has out-performed the region.
across the region.
30 Robert Walters Salary Survey 20192019 Multinationals will continue to open
In 2019, demand will increase in their regional headquarters in the
the Middle East for government UAE as this is the only truly expat-
sector related roles – notably IT, friendly location for the region. This
legal, finance, banking and HR. will bring further opportunities for
Meanwhile, demand for legal all head office professionals.
professionals is expected to
remain steady across the Gulf. The job market in Saudi Arabia will
continue to be busy for government roles;
Digitalisation will be at the forefront in we expect the private sector to follow suit
2019, as companies look to optimise and recover in 2019. Sectors such as IT,
performance, which will create an manufacturing, logistics, finance, banking
atmosphere of excitement and activity. and education will be key benefactors.
In the UAE, the growing demand for The rush to hire good-quality Gulf
nationals will continue to dominate the candidates will create increased
market as many companies aim to candidate movement, especially in
comply with Emiratisation legislation. Saudi Arabia. However, candidates
As a result, local market knowledge need to be wary of too many moves too
JASON GRUNDY, will be a key differentiator for all quickly on their CV, to avoid permanent
MANAGING DIRECTOR, professionals across the region. damage to their career prospects.
MIDDLE EAST
Middle East Job Index
UAE - Jobs up Multinationals will continue to
1 38% year-on year open their regional headquarters
in the UAE, bringing further
opportunities for all head office
Saudi - Jobs up professionals.
2 111% year-on-year
2 1
*All statistics are drawn from Robert Walters industry research
*For more detalied information on the Robert Walters Middle East Job Index please contact the Dubai office
Middle East 31OVERVIEW
The oil and gas sector began hiring The Saudi government has
again after a period of recovery and predicted a 7.4% increase in
market slowdown since 2016. there total spend for 2019, which
was a notable increase of temporary will likely increase companies’
fixed-term contracts for project finance confidence to hire. This, coupled
roles. As with previous years, salaries with stringent Saudization
remained relatively stable in 2018. policies, will mean that firms will
look to reduce their expatriate
Demand was high for candidates headcount in favour of locals who
who could fill traditional roles, namely have international experience.
finance managers, financial controllers Saudi national hiring has doubled
and tax specialists. The 'Big 4' were in 2018 and we expect this
actively recruiting for audit and tax trend will continue into 2019.
roles across the GCC. Professionals
59%
OF PROFESSIONALS ARE OPEN
with a background in tax were also
highly sought after for in-house roles.
In 2019, the positive UAE economy
The implementation of VAT
in Bahrain in the beginning of
2019 will undoubtedly increase
the number of tax manager
TO A JOB OFFER WHEN NOT will accelerate the jobs market roles, with large companies and
ACTIVELY LOOKING growth, primarily driven by the 'Big 4' all competing for
recovering oil prices, the active similar types of candidates.
trade and tourism environments
and a pick-up in investment
ACCOUNTING & FINANCE ahead of Expo 2020 in Dubai.
2018 was a steady year for finance
recruitment in the UAE, defined by We expect that demand will be high Stringent Saudization policies will
the number of expats who have for financial analysts, management mean that firms will look to reduce
either left the UAE or have sent accountants, business controllers, expatriate headcounts in favour
their families home. There was finance managers, chief accountants of locals who have international
an increased demand for UAE and project accountants in 2019. We experience.
nationals, in particular for niche will also see a number of roles being
roles such as internal audit risk. created within compliance and risk.
32 Robert Walters Salary Survey 2019BANKING & FINANCIAL and capital requirements. As a result As most industries have embarked
SERVICES of this extra workload, we expect on a digital transformation
The key focus in 2018 for the an increase the number of technical journey, candidates who have
banking sector has been around finance roles in the first half of 2019. led or been part of large digital
stress testing, which was reflected in projects will find opportunities
recruitment trends and hiring levels. The Basel III amendments (also easier to come by, especially in
referred to as Basel IV) to credit the banking and retail industry.
We saw a renewed focus from and operational risk are likely to
banks to assess the robustness and be implemented in the UAE. This Information security is a key
effectiveness of their anti-money is expected to result in a reduction area of hiring as businesses are
laundering and sanctions compliance in the capital adequacy ratios for maturing and starting to recognise
programs. This is partly due to the most banks. The methodology the importance of having secure
next Financial Action Task Force (FATF) to calculate the amended environments. Robotics, AI
review that is due in the UAE in 2019. numbers will require adjustments and machine learning have an
to systems as well as collection increasingly important role within
Although most banks performed of additional data requirements, technology functions and candidates
well in terms of governance, thus increasing recruitment needs with experience in these areas will
training and assurance, there across the middle office. be highly sought after, especially
was a shortfall in monitoring, with those from North America and
three of the eight banks potentially While many salary groups across the Europe. At the junior end of the
requiring some remedial work. industry sectors will remain steady, market, candidates with a strong
initial indications are that we may see mix of interpersonal and technical
With the International Financial modest increases in key corporate skills were consistently in demand.
Reporting Standard (IFRS) that governance roles within the GCC
came into effect on 1st January as demand outstrips supply. Strong commercially focused
2018, most banks were able to meet technology professionals with true
the date of initial implementation. INFORMATION TECHNOLOGY business partnering experience
However, more refined processes Technology functions within had salary increases of around 10-
will have to be completed in 2019 organisations are playing a greater 15%. Senior roles within financial
before IFRS 9 becomes business and more integral part in businesses' services continue to pay the most.
47
as usual. The interdependency strategies in the Middle East. This
between the IT, finance and risk is creating high levels of demand
functions also highlights the need for for senior technology professionals
a revised governance framework. who come with strong commercial
experience, primarily from mature
Banks in the UAE have many
leasing arrangements that will fall
under the scope of the new IFRS
markets. Whilst the trend in other
specialisms has been to look for
talent within the region, many
47%
16 standard that comes into effect senior IT professionals in 2018 have
on 1st January 2019. All elements of been brought in from international
a bank, including branches, ATMs, locations. We expect to see
IT infrastructure and outsourcing this trend continue in 2019.
arrangements, will have to be Of professionals would take on
assessed to evaluate the impact on a new role for a better salary
their financial statements, operations
Middle East 33You can also read
