Links International Releases The Ultimate 2024 Salary Guide - 4 Sources of Salary Data, 1 Salary Guide!

April 15, 2024 04:00 PM AEST | By Cision

Google News:

Links International Releases The Ultimate 2024 Salary Guide - 4 Sources of Salary Data, 1 Salary Guide! — Image source: Kalkine Media

Recent News

Australia Non-Invasive Prenatal Testing Market Report 2025: NIPT Marke...

Global Plastics Treaty: The Journey of the Past Five Meetings

Rethinking Packaging With Purpose: A RENEWables Podcast Spotlight on E...

ENGIE and NHOA Energy Break Ground on 400 MWh Battery Project in Belgi...

HONG KONG, April 15, 2024 /PRNewswire/ -- Links International's 2024 Asia Salary Guide brings you detailed insights and trends covering the 2024 job market landscape across Hong Kong, Singapore and Mainland China. Explore evolving job market dynamics in the region to better prepare for the year and to ensure informed decision-making and strategic planning.

This year's Salary Guide is no ordinary salary guide. We've revamped our Salary Guide by including 4 sources of salary data to help our clients and candidates access accurate market salaries without having to check multiple salary sources.

Key findings from the 2024 Asia Salary Guide include:

1. Winning and Declining Job Roles

Hiring is on the horizon in the second half of 2024 and the roles that are particularly high in demand include:

Data Scientists
AI/Machine Learning Engineers
Blockchain Developers
Cybersecurity Engineers
Full Stack Developers
Scientific R&D Roles
Sourcing & Procurement
Digital Finance
HR transformation and Organisation Transformation

Job roles that will decline this year include:

Traditional Logistics
Transactional Accounting
Traditional Transactional Corporate Supporting Functions

2. A Job Market Slowdown in 2023

Despite Asia's prime locations remaining vital for investment and job creation, Mainland China, formerly Asia's economic powerhouse, slowed in 2023 due to geopolitical tensions and reduced foreign investment, leading to fewer job opportunities. Neighbouring location, Hong Kong experienced a milder job market decline, with lower unemployment rates despite relaxed visa rules for foreign talent. Tourism recovery bolstered Hong Kong's economy, fostering optimism for sustained growth and job stability. In Southeast Asia, including Singapore, job markets stayed strong in 2023 but didn't reach 2022's peak demand.

3. Talent For High Demand Skillsets Continues To Be Increasingly Difficult to Source in 2024

Employers are finding it extremely difficult to source new talent in certain high demand roles including Data Scientists, AI/Machine Learning, Blockchain, Cybersecurity, Procurement, Digital Finance and Insurance. Accordingly, Governments in Asia have been launching a number of measures to win the battle for these high demand fields with Hong Kong being one of the most aggressive by opening multiple new pathways for work permits and brining talent in from Mainland China.

4. Singapore's HR Landscape Remains Busy and Talent Hungry

Singapore, Asia's technology hub is now home to 80 of the world's top 100 tech firms and has set initiatives like the Overseas Networks & Expertise Pass (ONE) and the Tech@SG programme which simplify work visa procedures for international tech talent.

Additionally, Singapore aims for 15,000 certified HR professionals to join the workforce by 2027 – the Ministry of Manpower's HR Industry Transformation Plan (HR ITP) focuses on digitalising HR processes, developing strategic capabilities, and adopting progressive practices.

5. Sales & Marketing Bounces Back in Asia

Hong Kong's retail sales surged in 2023, with a significant 15.9% increase in November – driving a revival in inbound tourism. This boosted demand for roles in travel retail, sales, customer experience, and management.

Singapore is focusing on omnichannel strategies, with 48% of shoppers browsing in physical stores before online purchases and 49% vice versa. Omnichannel spending is expected to reach nearly 62% by 2026.

While the China sales and marketing job market remains muted, China's sales and marketing industry is transforming to data-driven, intelligent strategies amidst ongoing digitisation in 2024 and marketing and data related professionals with these skillsets are in high demand.

The Ultimate 2024 Salary Guide can be downloaded for free here!

About Links International

As a leading HR service provider in Asia, Links International is committed to maintaining its position by delivering top-notch payroll services and an unparalleled HR tech experience to clients. With nine consecutive years of being voted Asia's Best HR Outsourcing Partner, our team of over 200 Asia HR Experts offers in-country support from more than 20 locations across the region. We provide expert HR advice tailored to local markets, offering industry best practices and practical solutions to leading businesses in Asia.

Website: www.linksinternational.com
LinkedIn: www.linkedin.com/company/links-recruitment-limited
Facebook: www.facebook.com/hongkonglinks/
X: www.twitter.com/Links_Asia
Instagram: https://www.instagram.com/links_international_hr/

Disclaimer

The content, including but not limited to any articles, news, quotes, information, data, text, reports, ratings, opinions, images, photos, graphics, graphs, charts, animations and video (Content) is a service of Kalkine Media Pty Ltd (“Kalkine Media, we or us”), ACN 629 651 672 and is available for personal and non-commercial use only. The principal purpose of the Content is to educate and inform. The Content does not contain or imply any recommendation or opinion intended to influence your financial decisions and must not be relied upon by you as such. Some of the Content on this website may be sponsored/non-sponsored, as applicable, but is NOT a solicitation or recommendation to buy, sell or hold the stocks of the company(s) or engage in any investment activity under discussion. Kalkine Media is neither licensed nor qualified to provide investment advice through this platform. Users should make their own enquiries about any investments and Kalkine Media strongly suggests the users to seek advice from a financial adviser, stockbroker or other professional (including taxation and legal advice), as necessary.
The content published on Kalkine Media also includes feeds sourced from third-party providers. Kalkine does not assert any ownership rights over the content provided by these third-party sources. The inclusion of such feeds on the Website is for informational purposes only. Kalkine does not guarantee the accuracy, completeness, or reliability of the content obtained from third-party feeds. Furthermore, Kalkine Media shall not be held liable for any errors, omissions, or inaccuracies in the content obtained from third-party feeds, nor for any damages or losses arising from the use of such content.
Kalkine Media hereby disclaims any and all the liabilities to any user for any direct, indirect, implied, punitive, special, incidental or other consequential damages arising from any use of the Content on this website, which is provided without warranties. The views expressed in the Content by the guests, if any, are their own and do not necessarily represent the views or opinions of Kalkine Media. Some of the images/music that may be used on this website are copyrighted to their respective owner(s). Kalkine Media does not claim ownership of any of the pictures displayed/music used on this website unless stated otherwise. The images/music that may be used on this website are taken from various sources on the internet, including paid subscriptions or are believed to be in public domain. We have made reasonable efforts to accredit the source wherever it was indicated as or found to be necessary.

This disclaimer is subject to change without notice. Users are advised to review this disclaimer periodically for any updates or modifications.

Markets

Sponsored Articles

1

2

3

4

5

Investing Ideas

1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

22

23

24

25

26

27