SALARY SURVEY 2018 CANADA - Robert Walters
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SALARY SURVEY 2018
CANADA
FOR OVER 32 YEARS, BUSINESSES ACROSS THE GLOBE HAVE RELIED ON US TO FIND THE VERY BEST SPECIALIST PROFESSIONALS AND WE ARE TRUSTED TO HELP BUILD THE CAREERS OF THE WORLD’S LEADING EXECUTIVES, JOB MOVE AFTER JOB MOVE.
WELCOME TO ROBERT WALTERS
SPECIALIST PROFESSIONAL RECRUITMENT
MARKET LEADING GLOBAL BRAND
Our story begins in 1985 when the Group opened its first office in central London.
Since then we have developed into a global specialist professional recruitment
group, operating in a diverse range of markets worldwide.
For over 32 years, businesses across the globe have relied on us to find the very
best specialist professionals, talented executives have trusted us to help build their
careers, and companies have outsourced their recruitment processes to us. It’s a
success story we’re proud of and one that’s built on the strength and passion of
our people.
As the business continues to expand, we operate with the same commitment
to service and quality. Every candidate is treated as an individual with a focus on
advising and consulting. It means we continually have the best candidates on the
market to offer you.
At the heart of the Group’s culture and business is our team-based profit share
model which means that unlike the majority of our competition we do not pay
individual commission. This ensures the needs of our clients and candidates
always come first.
ROBERT WALTERS,
Although our reach is global we remain committed to hiring local talent so our
CHIEF EXECUTIVE OFFICER people have a deep understanding of the local market and culture. It’s what makes
us unique and helps us remain a trusted recruitment partner of the world’s leading
firms.
Robert Walters,
69%
OF OUR BUSINESS
IS FOCUSED ON
CEO,
PERMANENT Robert Walters Plc
RECRUITMENT, 31%
ON CONTRACT
GLOBAL REACH,
LOCAL EXPERTISE
Countries we operate in
28
WE RECRUIT
ACROSS 28
AUSTRALIA
BELGIUM
BRAZIL
CANADA
CHINA
FRANCE
GERMANY
IRELAND
JAPAN
KOREA
LUXEMBOURG
MALAYSIA
NEW ZEALAND
PHILIPPINES
SPAIN
SWITZERLAND
TAIWAN
THAILAND
NETHERLANDS
UAE
UK
HONG KONG PORTUGAL USA
COUNTRIES INDIA SINGAPORE VIETNAM
GLOBALLY INDONESIA SOUTH AFRICA
DOWNLOAD OUR SALARY SURVEY BOOKS To discover hiring and salary trends across the world, read our Global Trends on page 8 or download our books covering: • Australia & New Zealand • Japan • Brazil • Korea • Canada • Middle East & Africa • Europe • USA salary data is available in our app • Greater China & South East Asia Download your copy today by visiting Download our app from iTunes & Google Play www.robertwalters.com/salary-survey Search for Robert Walters Salary Checker
OUR SERVICE
Our business is built on the quality of our people. The majority WHAT MAKES US DIFFERENT
of our recruiters have direct industry experience so they truly Bespoke, consultative service
understand the disciplines they are recruiting for and the
challenges facing hiring managers.
1. Commitment to quality
We focus on building long-term, high-quality relationships
OUR CORE DISCIPLINES INCLUDE: with clients and candidates. We consult and advise, helping
• Accounting & Finance our candidates make the right career move. This builds trust
and loyalty and ensures we continually have the industry’s
• Banking & Financial Services
top talent for our clients.
• Engineering
• Human Resources
2. Specialists
• Information Technology We hire from industry to ensure our consultants are
• Legal specialists in the disciplines they recruit for. They also
• Marketing bring with them strong personal relationships and industry
• Sales networks, enabling them to find hard to reach talent with
niche skill sets.
• Supply Chain & Procurement
I’ve been impressed with Robert Walters has Robert Walters has
the service received by always been our preferred placed a number of
Robert Walters. They recruitment consultancy. finance professionals with
listened to our needs Their regional presence us, developing a good
and managed to balance and in-depth industry understanding of our
accommodating what knowledge enables us business needs, culture
we wanted with their to successfully hire high and talent profile.
obvious experience in the quality candidates across
recruitment process. multiple locations. Sue Mir, EMEA Business
Analysis Director,
Matt Earle, Regional Hagen Ong, APJ Head of Kimberly-Clark, UK
Director ASEAN, First 4 Talent Acquisition & Talent
Farming, Australia Management, Schaeffler
(Singapore) Pte Ltd,
Singapore
3. No individual commission 5. Innovation
We operate a team-based profit share system which, We were the first recruiter to launch a recruitment process
we 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
candidate remain our number one priority. There is also no our sponsorship of the British and Irish Lions.
ownership of candidates, ensuring clients always see the
best talent we have available.
6. Long-term outlook
Our strategy is one of organic growth through international
4. Our people and culture expansion and discipline diversification. We invest in markets
We promote long-term, international careers, helping us for the long-term and maintain our presence, even in
to retain our top people, which provides continuity for our tough times.
clients. We’re proud to say our senior management team is
home-grown with an average tenure of 13 years.
7. Tailored solutions
We provide a bespoke, consultative service to our clients,
from the largest corporates, through to SMEs and
start-ups. This can include tailored premium advertising
packages, enabling clients to access difficult to reach talent.
CONTENTS INTRODUCTION Global Trends................................... 10 Regional Trends................................ 12 REGIONAL OVERVIEWS Australia & New Zealand.................. 14 Europe.............................................. 16 Greater China................................... 18 South East Asia................................ 20 UK..................................................... 22 USA.................................................. 24 Middle East....................................... 26 Africa................................................ 27 CANADA COUNTRY OVERVIEW.................... 30 Commerce & Industry.................... 34 Financial Services.......................... 35
DOWNLOAD OUR
SALARY SURVEYS
SALARY SUR
AUSTRALIA VEY 2018
& NEW ZEALA
ND
SALARY SURV
EY 2018
BRAZIL
SALARY SURVEY 2018
CANADA
SALARY SUR
EUROPE VEY 2018
SALARY SURV
EY
GREATER CHIN 2018
SALARY A & SOUTH EA
SURVEY ST ASI A
JAPAN 2018
SALARY SUR
KOREA VEY 2018
SALARY SURVEY
2018
MIDDLE EAST &
AFRICA
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 • Korea
• Canada • Middle East & Africa
• Europe • USA data is available in our app
• Greater China & South East Asia
Download your copy today by visiting
www.robertwalters.com/salary-survey
Download our app from iTunes & Google Play
Search for Robert Walters Salary Checker
WELCOME TO THE 19TH EDITION OF THE SALARY SURVEY, PROVIDING CREDIBLE INSIGHT INTO HIRING AND SALARY TRENDS WORLDWIDE.
Our Salary Survey is based on the
ABOUT THE analysis of permanent, interim and
SALARY SURVEY contract placements made across each
of our geographies and recruitment
Welcome to the nineteenth edition of the disciplines during 2017, 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.GLOBAL TRENDS
market deregulation spurred job growth local talent. Returning nationals with
as companies were freed up to hire international business experience were
different types of interim and contract therefore highly sought after.
roles, whilst the permanent market also
recovered. The job market in South East Asia
remained active, due largely to new
Belgian businesses entered a period of companies entering the market and
expansion and there was job growth the expansion of existing businesses,
across France. The Spanish economy despite variable economic conditions.
was buoyant and unemployment fell in
Portugal as opportunities arose in the IT, Vietnam and the Philippines faced
manufacturing and engineering sectors ongoing talent shortages with many
across both countries. The Netherlands companies reaching out to overseas
and Germany both saw strong hiring nationals to attract them back home
levels, especially in the financial services with lucrative opportunities. Meanwhile in
sector. Indonesia businesses competed to hire
GILES DAUBENEY, DEPUTY high-potential, local bilingual candidates.
CHIEF EXECUTIVE OFFICER In the UK, despite uncertainty surrounding
Brexit and the General Election, many Japan also continued to face talent
INTRODUCTION sectors hired extensively – although shortages as the government announced
While economic conditions varied in there was a shift towards contract roles a record high in the job opening to
2017, most markets experienced at as businesses sought to build agile
least modest growth, which boosted workforces able to quickly adapt to
hiring and led to candidate shortages changing economic conditions.
in certain sectors. As candidate shortages grow
In the Middle East, the total number of across the world we advise
The most significant change was in jobs declined but demand remained companies to be flexible and
Europe, as the continent’s economy and for highly skilled professionals. Both open to hiring professionals
job market began to grow again following Africa and the Middle East saw a with transferable skills.
10 years of stagnation. Strong business focus on nationalisation programmes
confidence and the onset of employment as governments promoted hiring
10 Robert Walters Salary Survey 2018applicants ratio, leading to strong were active recruiters in, for example, For those facing candidate shortages
competition for specialists across many London, San Francisco and Dublin, often our advice is to be flexible and consider
sectors. In particular, professionals with competing against larger, more traditional hiring professionals with transferable
artificial intelligence (AI) and Internet of companies by offering candidates equity skills, even if they are not an exact fit
Things skills and experience were highly stakes in the business. for the job description. It’s also vital
sought after. for companies to streamline their
Banks and financial services firms recruitment processes, making them
Despite some global economic continued to bear the brunt of heavier efficient and timely to avoid losing top
uncertainty, China continued its growth regulation. This resulted in strong talent to competitors. Employers should
momentum bolstering confidence and demand for regulatory and compliance also be aware that salary alone will not
hiring activity. skill sets along with risk, audit and legal. attract high-calibre candidates as they
In 2018 we expect to see sustained are increasingly motivated by work-life
Digital, IT, fintech and e-commerce skill demand for regulatory and compliance balance, company culture, structured
sets will continue to be in demand due professionals, along with salary increases career progression and flexible working.
to the national ‘Internet Plus’ strategy for these sought-after professionals.
and companies’ digital transformation
projects. We also expect to see 12-18%
pay rises for technology professionals in
China in 2018. CYBER SECURITY
AND FINTECH
Australia and New Zealand’s job markets
were generally healthy and this looks set
WERE NOTICEABLE
to continue in 2018. Of particular note GROWTH SECTORS
were the booming infrastructure and AND DEMAND FOR
technology sectors, leading to demand BIG DATA SPECIALISTS
for project managers and engineers as CONTINUED AT PACE.
well as cyber security and AI specialists.
Although both countries are relatively
close to full employment, we expect
salary growth to be marginal in New
Zealand and flat in Australia in 2018.
KEY TRENDS
As in previous years the trend towards
digitalisation meant that professionals
with digital expertise were in high
demand across the globe.
Cyber security and fintech were
noticeable growth sectors and demand
for big data specialists continued at pace
as companies sought to implement new
systems to benefit from the insights
afforded by big data. Tech start-upsREGIONAL TRENDS With our presence spanning 28 countries 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 2017 and their predictions for the year ahead. Our regional overviews include: ●● Australia & New Zealand ●● Europe ●● Greater China ●● South East Asia ●● United Kingdom ●● USA ●● Middle East ●● Africa
THE GROUP’S INTERNATIONAL NETWORK OF OFFICES SPANS 28 COUNTRIES AND SIX CONTINENTS, ENABLING US TO MEET THE DEMANDS OF CLIENTS AND CANDIDATES WHOSE NEEDS EXTEND BEYOND LOCAL MARKETS
AUSTRALIA & NEW ZEALAND
INTRODUCTION GROWTH IN CONSTRUCTION
“There is a sense of cautious optimism Numerous infrastructure projects Our presence in Australia &
across many regions and sectors in are planned or already under way in New Zealand:
Australia and New Zealand. Overall, the Australia and New Zealand, fuelling
job market is robust and this looks set demand and wage growth in many • Adelaide
to continue in 2018. areas of the public sector. Construction • Auckland
of new roads, airports and hospitals in • Brisbane
While the outlook for the Australia and 2018 means employers will continue to • Chatswood
New Zealand job markets remains be on the hunt for project managers,
• Melbourne
healthy, this doesn’t tell the whole story. engineers and project finance experts.
There are pockets of the Australian • Parramatta
and New Zealand economies that are • Perth
absolutely booming, however there are • Sydney
also some areas that are in decline. • Wellington
14 Robert Walters Salary Survey 2018DRIVING EFFICIENCIES JOBSEEKER MOTIVATIONS
That sense of caution and vigilance In Australia and New Zealand, the
The Australia and extends beyond financial services primary reasons for professionals to
New Zealand job markets though. Regardless of sector, Australian begin active job searches are salary
are set to remain positive in and New Zealand organisations increases and career progression.
2018. are increasingly focusing on cost Employers who can offer both will be
efficiencies and leaner ways of working. most likely to attract and retain star
The net result is that salary growth is performers in 2018.
only marginal in New Zealand overall,
TECH SKILLS IN DEMAND and flat in Australia. All in all, we expect the Australia and
Specific areas of technology are also New Zealand job markets to remain
taking off right now. These include Meanwhile, both countries are relatively generally positive in 2018, with some
cyber security, robotic process close to full employment, which means regions set to enjoy modest growth. At
automation, and artificial intelligence. that future economic growth may rely a time of global economic uncertainty,
Professionals with expertise in these upon importing offshore talent. Fresh Australia and New Zealand appear
areas will be much sought after in from the 2017 election, New Zealand’s stable and secure.”
2018. Conversely, lower-level tech roles government will continue to actively
such as manual testing and helpdesk encourage New Zealand professionals James Nicholson,
are in decline, as they are increasingly living overseas to relocate home. Managing Director,
outsourced to cheaper labour markets Australia’s government is tightening Australia & New Zealand
overseas. its grip on 457 skilled working visas,
making it harder for employers to recruit
BANKS SEEK COMPLIANCE outside Australia. It remains to be seen
PROFESSIONALS whether, during a time of uncertainty at
In the wake of recent scandals in the federal government level in Australia,
banking and financial services sector that decision can be reversed in 2018.
in Australia, centered on misconduct
within the banks, the pressure is on
for financial institutions to be more
transparent and report on their
remediation projects. We therefore
expect demand to remain high, and
salaries to increase for professionals
with a background in compliance,
regulation and risk management.
15EUROPE
INTRODUCTION 2017
“After 10 years of stagnation, economic In France, the IT, real estate, construction, Our presence in Europe:
conditions improved across Europe engineering, healthcare and consulting • Belgium
in 2017. As a result, recruitment sectors were all extremely active • France
levels were high as strong business recruiters. The multiplication of national • Germany
confidence spurred companies to and European regulatory requirements
• Ireland
increase headcount. The onset of de- and the increase in consequent checks
• Luxembourg
regulation across many of Europe’s major led to a greater number of control and
employment markets generated further monitoring jobs, following on from the • Netherlands
job growth as businesses began to have recent growth in compliance jobs. Greater • Portugal
the freedom to offer new types of interim hiring activity was particularly notable • Spain
and contract roles to candidates. outside the Paris region, with job growth • Switzerland
across the whole of France.
Continued employment law de-regulation chief accountants, business/financial
will cause candidate shortages to In Belgium, businesses entered a period controllers, internal audit professionals
increase across Europe as businesses of expansion, following a minor lull at the and treasurers.
race to compete for the best talent. outset of 2017. Nearshoring continued
This will also result in an upward trend to shape recruitment activities, with Germany enjoyed a buoyant year,
in salaries for both specialist and a growing number of roles opening with hiring levels up among financial
generalist professionals. up outside of urban centres. Demand services employers, where middle office
was high for qualified accountants, professionals such as specialists in
16 Robert Walters Salary Survey 2018finance, audit, legal regulatory, compliance compliance experience as businesses In the Netherlands, front office hiring
and risk were in high demand, driven by prepared for upcoming regulatory change. in financial services may be limited,
the positive economic situation and the Across the wider market, candidates with though specialists in data, IT and interim
potential for some functions within banks a local market skill set who were fluent in compliance will remain highly sought
relocating to Germany following Brexit. Swiss German were highly sought after. after. When the DBA Act comes into
force, we expect to see a temporary
Recruitment activity in Ireland was high, 2018 slump in interim hiring as employers
with financial services firms creating Europe is expected to enjoy another assess the full impact of the Act.
opportunities for compliance and strong year, with confidence remaining
regulatory professionals, and a growing high among professionals and employers In Germany, skills shortages will remain
tech start-up community driving demand due to continued de-regulation and acute as the economic situation remains
for IT specialists. With high levels of economic growth. positive and employers continue to
candidate movement, counter-offers look to expand. Professionals who can
became a popular strategy to retain In France, demand will be highest for support digitalisation projects and experts
staff, though many professionals were senior level professionals who can help with good IT skills will be in particularly
influenced by company culture and brand businesses overhaul their operating short supply.
rather than salary alone. model and embrace digitalisation to
expand. Employers may struggle to retain Demand will remain high in Spain for
In the Netherlands recruitment levels talent if they do not review and embrace finance, control, HR and IT professionals,
were buoyant, despite sluggish interim new working models, with many who can demonstrate commercial
hiring early in the year as employers professionals looking for businesses acumen as well as technical skill.
prepared for the introduction of the which offer flexible working options. The improving economy will lead
DBA Act establishing new rules for many businesses to look to expand
hiring contractors. Mid to senior Similarly, in Belgium, sales professionals internationally, creating strong demand
finance professionals became more who can help businesses expand will be for professionals with foreign language
mobile, looking for roles that could offer highly sought after, with foreign language skills and international experience.”
significant career progression, while skills in high demand. Activity in Belgium
interim compliance specialists were will be influenced by the wider European Antoine Morgaut,
sought to oversee projects relating to recovery and salaries are expected to CEO,
regulatory change. grow ahead of inflation. Europe & South America
The Spanish economy was buoyant,
influenced by growing tourism revenues
driving recruitment activity. Digitalisation
projects in many businesses also
helped stimulate hiring for a range
of professionals. The construction,
automotive and manufacturing sectors
were also active, helping to create high
demand for engineers despite the slump
in the oil industry.
In Switzerland, demand continued
for professionals with regulatory and
17GREATER CHINA
“Despite general global economic CHINA
uncertainty, the world economy’s A major drive by Chinese companies to Our presence in Greater China:
eastward shift continues. The Greater internationalise their businesses led to
China region has maintained its growth heightened competition among hiring • Beijing
momentum, led by the sustained managers for bilingual professionals • Shanghai
performance of China, now the world’s and those with experience working in • Suzhou
second-largest economy. international companies. • Southern China
• Hong Kong
DEMAND FOR TECHNOLOGY The Chinese government also rolled out
• Taiwan
TALENT a series of initiatives and policies, such
China, Hong Kong and Taiwan all as ‘Internet Plus’ and ‘Made in China
experienced an increase in demand 2025’ strategies designed to sustain we saw more research and
for digital innovation and technology business confidence and support development centres being established,
expertise. Automation, cloud various industries, including technology international service firms entering the
technology, e-commerce, big data and and manufacturing. market and affordable luxury brands
cyber security were some of the key expanding into second-tier cities,
growth areas, with many companies In addition, with the continuing shift resulting in an increase in overall
in the region undertaking digital towards a service-led, consumption- recruitment activity.
transformation projects for their future based and innovation-driven economy,
development.
18 Robert Walters Salary Survey 2018HONG KONG experienced pressure on margin HIRING ADVICE
Hong Kong began 2017 with generation because of a slowdown in To attract the best talent, we advise
more conservative hiring levels, tourism. companies to be flexible and not to
predominantly focused on replacement- focus only on direct financial benefits
based recruitment. There were still Investment in the technology sector such as salaries and bonuses.
key pockets of specialist professional continues to evolve, supported by the
hiring, for both permanent and ‘Asian Silicon Valley’ plan. We are also Companies are recommended
contract positions. Given its deepening seeing an increase in professionals with to consider the non-monetary
economic integration with China, regional experience and multilingual rewards and intangible benefits
Hong Kong is well-positioned to skills to support business restructuring, they can offer, such as career
capitalise on the nation’s rapid in particular in the supply chain and development opportunities, training
economic rise. Alongside its financial logistics industry. In general, Taiwan schemes, employee-friendly working
services prowess, Hong Kong has a is still very much a candidate driven environments and good corporate
deep pool of world-class professionals market, and we have noticed a flow of cultures. These can play an important
in accounting, technology, legal, talent between China and Taiwan. role in long-term staff engagement and
management, communications, retention.”
logistics and many other sectors.
Matthew Bennett,
The city showed an unexpectedly With ongoing digitalisation Managing Director,
strong growth rate through 2017, and of businesses creating Greater China
it continues to be the fund-raising hub widespread demand, the
for the ‘Belt & Road’ initiative. This is a Greater China recruitment
development strategy proposed by the market will remain
Chinese government which focuses on competitive and we expect
connectivity and cooperation between to see healthy demand for
Eurasian countries and on underlining top-tier professionals and
China’s push to take a larger role in specialists.
global affairs.
With this in mind we expect demand in
2018 for high-calibre professionals to
support the development of commercial
services, infrastructure, operations and
management.
TAIWAN
Economic conditions improved in
Taiwan with an increase in global export
demand. The crucial semiconductor
and engineering sectors remained
strong, whereas retail and FMCG
19SOUTH EAST ASIA
INTRODUCTION services. Companies operating in these
“Despite variable economic conditions growing sectors were active in seeking Our presence in South East Asia:
across South East Asia in 2017, the quality candidates.
job market remained active. This was • Indonesia
largely due to the region’s dominance Likewise, an influx of multinational firms • Malaysia
in attracting new market entrants and and continued growth of local and fast- • Philippines
supporting the expansion of existing emerging businesses resulted in strong • Singapore
businesses. demand for high-potential talent in the • Thailand
Philippines. Businesses establishing
• Vietnam
The ease of doing business in Malaysia, themselves in the country were keen
for example, increasingly led to the to gain greater market share, resulting
growth of the shared services sector, in back office talent in HR and finance offer top-tier talent substantial salary
producing higher demand for finance being in high demand. increases. Additionally, the growing
and accounting talent. Similarly, against healthcare sector saw a rise in demand
a backdrop of stable economic and A similar trend was observed in Thailand. for technical healthcare professionals.
political growth in Indonesia, there was As a more stable economy developed,
strong growth across most sectors in multiple foreign investments led to 2017 also saw the expansion of
2017. Banking and financial services, the growth of the supply chain and Vietnam’s industrial sector, with a higher
insurance, manufacturing and FMCG in engineering sectors in particular. The number of multinational corporations
particular performed well, and the fastest e-commerce, chemical and building investing in the manufacturing market.
expansion was seen in professional materials industries were able to The job market was also particularly
20 Robert Walters Salary Survey 2018active for legal and corporate as UX designers. Cloud, cyber security learning ability, rather than purely for their
governance professionals. Firms in and big data were key growth areas. This technical skills will make successful hires
the FMCG, tech and pharmaceutical is expected to continue in 2018. in 2018.
industries increasingly demanded
in-house legal counsels to boost This focus on business transformation Modest economic growth led to
internal efficiency. also helped to trigger demand for HR continual upward pressure on salaries
professionals with change management across most countries in South East
Singapore saw more conservative experience. Those with proven ability Asia, although the salary increments
hiring levels, due mainly to increased in cultural transformation will be sought offered were minimal. Candidates with
offshoring, nearshoring and cost- after in 2018 as companies undergo in-demand and niche skill sets naturally
cutting initiatives, specifically within the further cultural and structural change. received the highest increments as
banking sector. However, there were part of their annual salary reviews, with
still key pockets of active hiring within some also receiving pay rises throughout
the information technology and sales A strong economic outlook the year. However, salaries mostly
and marketing sectors, along with a and ongoing digitalisation, remained flat in Singapore, owing to low
growing contract market. as well as steady market inflation rates.
expansion, are set to drive
KEY TRENDS salaries in 2018. 2018 EXPECTATIONS
Regardless of economic conditions, A strong economic outlook and ongoing
every market sharpened its focus digitalisation, as well as steady market
on developing a more localised expansion, are set to drive salaries in
workforce and prioritised the hiring and However, talent attraction and retention 2018. Local candidates with strong
development of locals for key strategic remained a challenge across the technical skills and international
positions. Firms also sought nationals region, as talent shortages and turnover backgrounds are set to be highly sought
returning from overseas to overcome rates remained high. We advise hiring after.”
talent shortages. This was especially managers to simplify and streamline
true in countries like Singapore, Vietnam their recruitment processes to ensure Toby Fowlston,
and the Philippines. However, Indonesia timely hires. Those who focus on Managing Director,
struggled with an imbalance between the hiring candidates for their potential and South East Asia
demand for high-potential, local bilingual
candidates, and the available supply.
Digitalisation also continued to be a
key priority across most markets in
South East Asia, due especially to a
rapidly growing younger population and
increasing consumerism. There was a
growth in demand for professionals with
digital expertise, across both marketing
and IT. As more business moved to
online or mobile platforms, there was a
rise in demand for IT experts proficient in
running back office digital infrastructure
or those with niche technology skills such
21UNITED KINGDOM
2017 buy-side at the junior level owing
“Despite uncertainty surrounding to natural candidate churn. Our presence in the UK:
Brexit and the General Election, many
businesses recruited extensively The technology sector enjoyed strong • London
with a notable shift towards contract growth, with specialists in cyber security • Birmingham
hiring as businesses looked to build and fintech highly sought after. Demand • Guildford
an agile workforce that could adapt for IT professionals came from large • Manchester
to shifting economic conditions. multinationals looking to build more • Milton Keynes
robust data protection systems, as
• St Albans
Banking and financial services firms well as a growing community of small
took a relatively cautious approach start-up tech firms in London and other
to recruitment, with most demand regional hubs. While opportunities were and adapt supply chains in preparation
representing replacement hiring. available for senior professionals, most for Britain developing new trading
Compliance, risk, audit and legal hiring was focused on junior talent, as relationships outside the European Union.
were exceptions, with professionals in firms looked to train up their own staff.
these fields highly sought after in light Regulatory pressure also shaped demand
of ongoing pressure from regulators. Businesses in the FMCG and for projects professionals. Tier one banks
Overall, the financial services sector manufacturing sectors prepared for sought candidates with experience of
had a stronger year than anticipated, Brexit by hiring procurement and supply MiFID II, GDPR, Structural Reform and
with healthy hiring activity on the chain professionals who could build BCBS 239. Mid-level to senior machine
22 Robert Walters Salary Survey 2018learning specialists were in demand as 2018 procurement and supply chain specialists
businesses increasingly recognised the Demand for professionals is likely to with experience in international markets.
importance of data science in driving continue in 2018 despite uncertainty
growth and increasing productivity. concerning the onset of Brexit. We also anticipate that salary growth
Businesses will have to implement will be limited across most roles,
Pressure from regulators also drove new projects to adapt to the changing however, the technology sector will be an
demand from financial services firms for economic circumstances, develop exception with professionals specialising
legal professionals specialising in risk new supply chains and consider in cyber security and business
and compliance. Among private practice expanding into new international intelligence demanding significant pay
firms, demand was highest for lawyers markets. All of these changes rises when moving roles. Regulatory
with 2-5 years’ PQE, with specialists in will continue to drive hiring. specialists will also receive significant
real estate, finance, construction and increases due to the widespread
private equity highly sought after due to We anticipate that regulatory specialists shortage of these professionals.
the continued growth in these sectors. will continue to be sought after by
banks and financial services firms Employers will need to emphasise the
Employers in Birmingham and in light of ongoing pressure from potential for career progression a role can
Manchester actively recruited throughout regulators. As demand outstrips offer when looking to secure top talent,
the year, with several sectors seeing supply for compliance, legal and risk offering clear timescales and tangible
particularly good growth. Manufacturing professionals, employers will struggle goals required for promotion. Businesses
and FMCG businesses benefited from the to secure top talent in this area. should also consider embracing agile and
weakened pound by increasing exports, remote working models, as professionals
leading to demand for procurement and Manchester and Birmingham should increasingly prioritise work-life balance
supply chain professionals to oversee continue to see high levels of hiring when choosing a role. In light of ongoing
projects related to this growth. Tech activity in 2018, with the tech sector in skills shortages, operating rapid hiring
companies were also active in recruiting, particular expected to expand in both processes will be vital to avoid losing
with small start-up firms actively looking regions. Manufacturing and FMCG firms desirable professionals to competitors.”
to grow. The presence of shared service may experience a more restrained period
centres in the regions also provided as Brexit approaches and new supply Chris Hickey,
a steady stream of roles for mid and chains need to be established. However, CEO,
back office professionals such as this should also create demand for UK, Middle East & Africa
legal, IT and compliance specialists.
Salaries were largely stable, though
exceptions were possible in high
growth industries such as tech or for
compliance specialists within financial
services. The UK remained a ‘two-
speed economy’ with salaries growing
faster in London than the rest of the
UK. However, the continuing trend for
nearshoring created well compensated
roles across the UK regions.
23USA - NEW YORK
2017 with the exact experience required for the throughout 2017, and this situation is
“New York experienced steady demand role. likely to persist in 2018. In part, this
for professionals throughout 2017, with has been driven by the trend towards
specific sectors such as hedge funds, We expect to see demand for nearshoring, with large firms relocating
fintech companies, media firms and the professionals with a background in big certain mid and back office functions
buy-side of asset management offering a data and data science. Specialists at the outside the New York area, further
high volume of opportunities. mid and senior level who can implement shrinking the pool of available talent.
new systems to allow employers to
The flow of jobs was limited in the benefit from the insights afforded by In light of this, firms looking to fill
first quarter of the year as employers big data will be in highest demand. In business critical roles may need to adapt
delayed hiring decisions in light of the addition, we expect ongoing demand their approach to hiring, considering
surprise outcome of the presidential for regulatory specialists in banking and professionals with transferable skills who
election. However, as we moved into financial services, as well as technical may not be a precise fit for the position.
quarter two and the second half of the accountants who can ensure firms are
year, employers showed a measured compliant with new financial regulations. Overall, we expect 2018 to be a year
confidence, with the volume of available characterised by modest but sustainable
roles increasing. Software engineers will also be in high growth, with employers being forced to
demand in light of the ongoing growth offer more competitive salaries to secure
2018 of e-commerce firms and digitalisation top talent among a small pool of available
In 2018 we anticipate steady and projects among established businesses. professionals. Candidates who are
sustainable rises in demand across The growth of digitalisation will also prepared to take a flexible approach and
all sectors, as political and economic be a key driver in spurring demand for consider roles in new growth areas such
uncertainties become clearer and advertising technology specialists across as fintech, will be more likely to realise
employers become more confident in all sectors. their ambitions in terms of securing a
making hiring decisions. However, we role which can offer a strong salary and
still expect hiring managers to maintain With top calibre professionals in these career progression.”
a stringent approach to recruitment fields in short supply, employers have
processes, only considering candidates had to contend with skills shortages Kurt Kraeger,
Managing Director, New York
24 Robert Walters Salary Survey 2018USA - SAN FRANCISCO
2017 The bulk of demand was for mid to technologies emerge, AI and machine
“The recruitment market in San Francisco senior-level professionals, with many firms learning will remain major areas of
was generally busy in 2017, with most looking to take on candidates for their first development. In terms of skill sets, we
firms looking to expand and increase management positions. anticipate product designers and data
headcount, building on growth seen scientists will be highly sought after.
over the past five years. The first quarter The widespread growth in demand for
represented an exception to this trend, professionals led to many hiring managers Hiring managers will face a challenging
with some businesses delaying hiring facing skills shortages in key disciplines. candidate short market. Moving
decisions and candidates being more Demand for both product designers quickly through hiring processes will
reluctant to move jobs due to the political and data scientists outstripped supply. be important, with highly sought-after
uncertainty following the president’s Outside of tech specialisms, financial candidates likely to receive multiple offers
inauguration. controllers were highly sought after, simultaneously. Employers who have
along with life-cycle marketers, product clearly identified the qualities and skills
Hiring levels increased significantly marketers and demand generators. they are looking for, along with an efficient
throughout the year, with high levels of and coordinated recruitment strategy, will
investment from venture capital firms Despite the high demand for professionals be in the strongest position to hire.
spurring recruitment activity. Machine in 2017, salaries saw little movement due
learning and AI were both major growth to remuneration levels already being high. Professionals may struggle to secure pay
areas in 2017, creating high demand Instead, employers used flexible working rises, except for those with the most in-
for specialists in these areas. Tech and a positive company culture to attract demand skills where increases of 5-10%
professionals specialising in robotics were staff, while smaller firms also offered are possible. For smaller firms equity
sought after, and businesses focusing equity agreements. offers will remain a popular strategy for
on drone development were particularly attracting talent.”
active. Cyber security specialists also 2018
saw high demand for their skills, as did We expect another strong year for Simon Bromwell,
professionals with a background in health recruitment, with demand for candidates Managing Director, San Francisco
technology. continuing to outstrip supply. While areas
of specific demand may shift as new
25MIDDLE EAST
2017 While the total number of jobs declined, Fintech and manufacturing will remain
“2017 was a challenging year in demand remained for highly skilled growth sectors, spurred by government
the Middle East, with conflict in the professionals. Salaries remained static incentives to diversify industries in the
region creating economic and political within professional services, with region.
instability, leaving many employers bonuses more modest than in previous
hesitant to pursue growth. The slump in years. IT remained a growth sector Nationalisation programmes will create
the oil price impacted various industries, throughout the year, with employers opportunities for UAE and Saudi
stalling construction and infrastructure looking to secure professionals with nationals, particularly those who have
projects and slowing recruitment. backgrounds in cyber security and web experience working overseas, combined
development. with an understanding of local business
However, employers in the region took culture. Sales professionals will remain
steps to adapt, pursuing economic Employers focused on recruiting in demand as businesses expand their
diversification and placing an emphasis candidates with local market knowledge markets to overcome the challenging
on business services and tourism. In which led to fewer relocations by economic conditions.
the UAE, the decision to simplify visa international candidates lacking Middle
rules for Indian and Chinese citizens East experience. When recruiting, employers should
provided a boost to tourism, bolstering consider that the recent slump in salary
the hospitality and retail sectors. 2018 growth is likely to make compensation
With ongoing political and economic packages a key priority for many
The announcement of Saudi Aramco’s uncertainty and the slump in the oil professionals.
5% share float, the 2022 Qatar World price, the Middle East will continue to
Cup, and Expo 2020 in Dubai all helped face a challenging period. Despite 2017 being a challenging year,
to shore up confidence and offset there is an atmosphere of cautious
the economic challenges the region Bank consolidations are likely, impacting optimism and we anticipate highly skilled
faced, while the announcement of VAT on demand for professionals in these professionals will be able to find lucrative
introduction created opportunities for sectors but creating opportunities opportunities in 2018.”
tax specialists, as employers adapted for legal professionals specialising in
to the legislation. mergers and acquisitions. Jason Grundy,
Country Head, Middle East
26 Robert Walters Salary Survey 2018AFRICA
2017 sectors. To help build these industries, foreign investment. Due to talent
“South Africa enjoyed a growing sense employers sourced professionals from shortages, highly desirable candidates
of confidence in 2017, with increased overseas who could pass on their skills will be able to secure strong salary
recruitment activity despite a somewhat to local workers. increases of 12-15%.
sluggish economy. Finance and legal
professionals were highly sought after In East Africa, growth was strong, due Across the rest of the continent,
across financial services and other largely to heavy government investment expect employers to maintain a
industries, while technology and FMCG in infrastructure and support for national sense of measured confidence, with
firms were active in hiring IT specialists. citizens in securing professional roles. developments contingent on how the
International investment was also political situation develops in many
Securing employment equity candidates forthcoming, with foreign money injected countries.
was a high priority. Businesses targeted into the technology, FMCG and financial
nationals working overseas encouraging sectors in Kenya and Uganda. Cote d’Ivoire and other French speaking
them to return home. In addition, West African countries are expected to
employers were active in sourcing mid West Africa also struggled with attract significant foreign investment,
to senior-level professionals with strong the decline in oil prices, but heavy helping to spur growth across all
industry experience and technical skills. investment in infrastructure helped to sectors. Investment in infrastructure
offset the impact, as did healthy levels of is likely to be widespread, creating
Businesses in North Africa struggled in foreign investment. demand for engineering professionals,
2017. Muted oil prices and stagnation in while the growth of financial services
the Mediterranean economies led to a 2018 firms will lead to an increase in demand
slow recruitment market. South Africa is expected to enjoy a for candidates with international
buoyant 2018, with rising confidence experience.”
In Central Africa, despite political and among employers and high levels of
economic instability, governments recruitment, with finance and legal Nic Sephton-Poultney,
continued to attract international professionals enjoying rising demand for Country Manager, South Africa
investment, particularly in the their skills. However, political instability
agricultural, manufacturing and FMCG may present a challenge to securing
27CANADA In this section we delve deeper into the hiring and salary trends we expect to see across our local market in 2018.
TORONTO
Canada
2017
Canada enjoyed a buoyant year for recruitment in 2017, with the technology
sector being particularly active. The political situation in the United States
made Toronto an attractive location for foreign nationals, creating a rich
pool of tech and IT graduates. The lower overhead costs of operating
in Canada versus the US also led many firms to relocate here.
Outside the tech sector, real estate and construction companies recruited
heavily as they looked to expand in response to the demand for more affordable
housing in the Greater Toronto Area. Recruitment in the traditional retail sector
was slower as businesses struggled in the face of online competition.
In financial services, regulatory pressure shaped many firms’ recruitment
strategies, with compliance and risk professionals highly sought after.
Investment management was the most active sector, with pressure from
IIROC, the OSC and OSFI driving firms to increase mid and back office
headcount. Among the banks, accounting policy and advisory teams grew
faster as firms prepared to adapt to impending regulations such as IFRS 9.
94%
OF CANADIAN FINANCE
Canada will enjoy another
positive year throughout
2018, with Toronto
experiencing ongoing
PROFESSIONALS ARE EXPECTING A growth.
SALARY INCREASE IN 2018
30 Robert Walters Salary Survey 20182018 Banking and financial services firms
Canada will enjoy another positive will continue generating demand
year throughout 2018, with Toronto for CPAs with a ‘Big 4’ background
experiencing ongoing growth. In and experience in auditing financial
particular, the Federal Government’s institutions, such as private equity and
Express Entry visa system will real estate investment trusts (REITs).
encourage the migration of skilled Securing top calibre professionals will
workers to the region, creating a rich be challenging, as competition from
and highly qualified talent pool for tech firms put pressure on talent pools.
employers to access.
The Ontario elections in June 2018
The CETA (comprehensive economic are expected to end in a progressive
and trade agreement) between conservative victory, which in turn is
Canada and the European Union likely to lead to a business-friendly tax
which came into effect in 2017 will environment and continued investment
encourage increased investment by in attracting new businesses to the
European firms. The agreement also greater Toronto area. This should
ensures that European qualifications lead to continued hiring activity.
are recognized in Canada,
MARTIN FOX, encouraging bilateral labor mobility.
MANAGING DIRECTOR,
CANADA
38 38%
Of Canadian professionals
received a pay rise of more
than 5% last year
50%
OF CANADIAN PROFESSIONALS
WOULD TAKE ON A NEW
ROLE FOR BETTER CAREER
PROGRESSION
58% of professionals
1 in Toronto plan to 1
change jobs in the
next 6 months
Canada 31OVERVIEW
property development/construction Accountants with a regulatory
and manufacturing were all extremely background will remain in high
active sectors. demand throughout 2018, as
companies continue to upskill in their
Large firms also focused on up- group financial reporting, accounting
skilling current staff in the areas policy and FP&A divisions. The
of accounting policy and advisory growing private equity/venture capital
in response to pressure to meet sector in Toronto will drive demand
regulatory reporting standards. for controller-level candidates with
Skills gaps were particularly notable experience working for private-
around IFRS 15 and IFRS 16 on equity backed businesses who can
top of ongoing general demand manage organizations going through
for accountants with experience takeovers and change projects while
solving issues that arise surrounding also managing demanding investors.
65%
OF CANADIAN PROFESSIONALS
IFRS requirements. As a result,
CPAs with 1-4 years of post-
designation experience from
accounting advisory teams within
CPAs will be difficult to source,
with candidates reluctant to leave
public accounting firms to move
WANT THE OPTION TO WORK the ‘Big 4’ were highly sought after. into traditional financial reporting
REMOTELY and internal audit positions, favoring
Salaries saw modest growth
ahead of inflation for professionals
COMMERCE & INDUSTRY remaining with the same employer.
Demand for accounting professionals By changing employers, accountants In 2018, recruitment levels are
from employers in commerce & could secure increases of 7-10% expected to remain buoyant
industry was high throughout 2017 but many were motivated to with the largest financial
as large companies continued to seek roles which could offer institutions returning to active
replace leavers while also growing more diverse and challenging recruiting after several years of
strategic functions such as cost work, an improved work-life cost cutting.
accounting and financial planning balance or better opportunities
and analysis. Information technology, for promotion in the future.
32 Robert Walters Salary Survey 2018roles which are more analytical and Demand for senior tax and
strategically focused such as FP&A internal audit professionals was
or corporate development. The more limited, owing to a lack of
rapidly expanding fintech sector movement among candidates
will remain popular with younger in this group and the creation of
finance professionals who are few new positions at this level.
attracted to the work-life balance and
innovative workplace environments Salary growth was healthy in the banking
these employers can offer. and financial services sector, with
remuneration increasing slightly ahead
Salaries are expected to remain of inflation. Professionals staying with
stable, with minor changes in the same employer were able to secure
line with inflation. Candidates will salary increases of up to 4% while those
continue to regard bonus, benefits,
the nature of the work and work-
life balance as higher priorities than
straightforward salary.
who changed roles were typically able
to obtain raises of up to 9%.
In 2018, recruitment levels are
90%
OF CANADIAN PROFESSIONALS
expected to remain buoyant with the ARE OPEN TO A JOB APPROACH
FINANCIAL SERVICES largest financial institutions returning WHEN NOT ACTIVELY LOOKING
In 2017, investment management was to active recruiting after several years
the most active sector for accounting of cost cutting. CPAs with a ‘Big 4’
recruitment, with regulatory pressure background and experience in the Increasingly, banks and financial
from IIROC, the OSC and OSFI driving private equity sector will be in high services firms will find themselves
demand for middle and back office demand, as will those possessing competing to secure highly desirable
54
staff. CPAs with a ‘Big 4; background accounting policy and advisory skills. junior candidates, with many millennial
were highly sought after to fill roles in professionals favoring a move to the
fund and corporate accounting. growing community of tech start-ups in
the region.
Within the private equity market
both independent firms and the
private equity divisions of large
asset management and pension
54% Competitive salaries will be vital for
employers looking to secure top talent,
with 10% increases expected for
funds saw the largest levels of professionals moving into a new role.
growth as investors continued to
favor safer investments.
Of Canadian professionals
Among the banks, accounting policy
would consider a counter
and advisory teams expanded as
offer from their current employer,
firms prepared to adapt to upcoming
if offered a new job
regulatory frameworks such as IFRS 9.
Many firms faced skills shortages when
looking to secure candidates with a
strong regulatory background due to
high demand and limited talent pools.
Canada 33TORONTO
COMMERCE & INDUSTRY
PERMANENT
ROLE BASIC SALARY PER ANNUM CAD ($)
2017 2018
Financial Control/Reporting/FP&A
Chief Financial Officer/EVP (18+ yrs' PDE*) 180 - 300k 180 - 305k
Finance Director/SVP (12 - 18 yrs' PDE) 150 - 205k 155 - 210k
Corporate Controller/VP (8 - 12 yrs' PDE) 135 - 165k 135 - 166k
Senior Manager/AVP (5 - 8 yrs' PDE) 105 - 140k 107 - 140k
Manager (3 - 5 yrs' PDE) 86 - 107k 88 - 110k
Senior Financial Analyst (1 - 3 yrs' PDE) 75 - 85k 75 - 87k
Newly Designated Accountant/Analyst 70 - 75k 70 - 75k
Internal Audit
VP/SVP (10 - 15+ yrs' PDE) 160 - 230k 165 - 232k
Manager/Senior Manager/Director (5 - 10 yrs' PDE) 100 - 155k 105 - 160k
Analyst/Associate (0 - 5 yrs' PDE) 70 - 95k 72 - 98k
Tax
VP/SVP (10 - 15+ yrs' PDE) 180 - 232k 180 - 235k
Manager/Senior Manager/Director (5 - 10 yrs' PDE) 100 - 175k 105 - 178k
Analyst/Associate (0 - 5 yrs' PDE) 75 - 95k 75 - 96k
* post-designation experience
NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified.
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