Asia Rewards & Attitudes Survey 2016 by Nick Dereka

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016

Executive Summary and Key Findings

2016 EXECUTIVE SUMMARY

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Foreword 2016 is a milestone for the RICS and Macdonald & Company Rewards and Attitudes Survey marking ten years since our first. Once again, our sincere thanks go to everyone who took the time to complete the survey; your input makes this the most comprehensive study of its kind in Asia. The results reflect the period when responses were sought and capture an increasingly hesitant mood, however, this time last year we noted a decline in confidence for 2016, so it is heartening that salaries in the industry have been robust. The average increase has again approached 10% with some buoyant disciplines, such as leasing, pushing 13%. However, with demand falling, retail rents are coming under pressure, especially in Hong Kong, and this year is likely to be a rougher ride. A new chart this year looks at the reasons salary increases were awarded and the relative premiums. It is striking that organisations are willing to pay 20.6% to secure the best people and illustrates the intense competition for talent across the region. With salary inflation at its most acute in the 18-24 age group, it may be that organisations are waking up to the high costs of recruiting people later in their careers. Given current volatility in global markets, the heightened effects of currency fluctuations in an interdependent region and persistent concerns about the fundamental health of the Chinese economy, accurate predictions are difficult to make. None the less, we believe the results offer some thought provoking insights. While there has been a 19% swing towards a negative view of market conditions, 63% of respondents expect their employer to increase headcount over the next year. Company heads are also more than twice as bullish as their staff, which is an interesting tension between leaders and their employees. Overall sentiment in the industry is clearly inclined to hold, with few respondents eager to either raise the stakes or fold.

Introduction Now in its tenth year, the Annual RICS and Macdonald & Company Asia Rewards & Attitudes Survey is the most comprehensive survey undertaken for the property sector. The survey continues the success of previous years. 1,556 Asian real estate professionals participated online in December 2015, January 2016 and February 2016 from across the Asian region. Thanks this year must go to RICS and HKIFMA who actively promoted their involvement in the survey amongst their members. We would also like to thank all the participants who took time to complete the online survey. Besides statistics on current salaries, recent salary increases, bonuses and employment package benefits, the results give insight into wider issues that are important to real estate professionals in their role and their attitudes toward employment. This executive summary sets out the key findings of the survey. For further information or analysis please contact: E: salarysurvey@macdonaldandcompany.com or call our Hong Kong or Singapore offices. An online statistics package for the 2016 survey, as well as access to the two previous annual surveys, is available at a cost of US $1199. In addition to the Asia survey, Macdonald & Company and RICS undertake remuneration and attitudes surveys for the following regions: UK and Middle East. All reports are available at www.macdonaldandcompany.com For the eighth year, the results have been collated and analysed by BluSky Research (a research trading name of BluSky Marketing Limited â&#x20AC;&#x201C; www.bluskymarketing.com).

This year, we are extremely pleased to be able to offer our clients a new online tool which provides a more responsive view of the data. It can be segmented and analysed according to specific criteria and provides authoritative, up-to-date insights into market trends, benchmarks and priorities. Please contact your local office in order to find out more.

William Glover, Managing Director Asia, Macdonald & Company, March 2016

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016 Results

KEY FINDINGS

are anticipating an improvement in economic activity (-13%*)

Negative business sentiment has risen to 34% (+16%*)

of respondents received a base salary increase (-6%*)

Of the 63% who received an increase, the average was 9.6% (-0.2%*)

is the average salary for real estate professionals in Asia (+$970*)

57% (versus 59%*) of all respondents secured an average bonus of $26,268 (+$1,740*)

*Versus last year

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of respondents class their current employer as an employer of choice (-1%*)

are fairly or very satisfied with their current job (=*)

of respondents believe their organisation will increase headcount in 2016 (-13%*)

Better salary continues to be the most important job aspect

An MRICS/FRICS earns $106,627 in comparison to a non professionally qualified counterpart who earns on average $95,087

Health insurance remains the the most popular employee benefit provided

The RICS and Macdonald & Company Asia Rewards & Attitudes Attitudes Survey Survey 2016 2016 4 Results Results

RESEARCH SAMPLE PROFILE

Response Rate Total In its tenth year, the survey remains the most credible and respected survey of its kind in the Asian property sector. With a sample size of 1,556 the survey response rate remains extremely robust.

2,000 1,652

1,556

1,525 1,500

1,291

1,308

2011

2012/13

949

1,000

500

0 2010

2014

2015

2016

28%

30% 17%

17%

16%

21%

19%

20%

24% 21%

25%

24%

30%

10%

15% 10%

Years’ Experience How many years’ experience do you have in your discipline? The general level of experience has increased slightly this year with the proportion of respondents who have over 16 years’ experience up to 45% from 44% the previous year. 44% of respondents have between 5 and 15 years’ experience compared to 45% last year.

28%

-5.8% 2015 to 2016 +2.0% 2014 to 2016

5% 0%

2014

2015

16–20 yrs

Over 21yrs

46%

15%

17% 9%

10%

20%

15%

23%

30%

24%

40%

0% Assistant/ Analyst

2014

11–15 yrs

2016

44%

50%

22%

Level of Responsibility What is the level of responsibility within the organisation for which you work? The level of responsibility remains largely the same as the previous year, although, both Assistant/Analyst and Manager/Associates have increased slightly by 1%, at 24% and 45% respectively. Executive Director/ MD/ C FO/COOs has decreased slightly from 8% last year to 7% this year.

5–10 yrs

45%

UP TO 4 yrs

Manager/ Associate

2015

Associate Director/Vice President

GM/Director/ Principal

Executive Director/MD/ CFO/COO

2016

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AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )

Average Asian Real Estate Salary (US$pa) What is your current annual base salary in US$? The average base salary of real estate professionals in Asia has increased to US$95,480 this year. The 1.0% growth in average salary across Asia could be partially attributed to an increase in the experience of respondents. The proportion of respondents who have over 16 yearsâ&#x20AC;&#x2122; experience has increased from 44% last year to 45% this year.

Average Salary (US$pa): Region What is your current annual base salary in US$? Although the overall average salary in the region has increased this year Hong Kong, Singapore and Malaysia all declined in 2016. Malaysia saw the largest fall, with the average annual salary down 16.7% from US$63,073 last year to US$52,558 this year. The PRC, however, showed an increase in annual average salary, up 3.5% from US$93,566 last year to US$96,797 this year.

$100,000

$96,087

$94,510

$95,480

2014

2015

2016

$80,000

$60,000

$40,000

$20,000

ÂŁ0

$95,480 $94,510

Average All

$96,087 $112,069 $113,284

Singapore

$125,580 $96,797 $93,566

PRC

$138,400 $93,923 $95,573

Hong Kong

$98,929 $52,558 $63,073

Malaysia

$71,804 $0

$30,000

2014

Average Salary (US$pa): Region by Qualified RICS What is your current annual base salary in US$? Those with a RICS qualification secured a 12.1% higher average base salary compared to those without a professional qualification (US$106,627 compared to US$95,087). Some countries showed a year-on-year decline in the average salary awarded to a RICS qualified respondent, however, Singapore showed a 9.0% increase, from US$153,630 last year to US$167,395.

$60,000

2015

$90,000

$120,000

$150,000

2016

$106,627 Average All

$109,160 $105,159 $167,395

Singapore

$153,630 $161,735 $105,125

Hong Kong

$116,391 $111,591 $81,331 $103,187

PRC

$150,602 $70,023 $81,906

Malaysia

$94,000 $0

$50,000

2014

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016 Results

$100,000

2015

$150,000

$200,000

2016

AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )

Average Salary (US$pa): Level of Responsibility What is your current annual base salary in US$?

2014

2015

2016

+/-

Total

$96,087

$94,510

$95,480

+1.19%

Assistant/Trainee/Graduate

$22,959

$20,965

$30,755

+46.70%

Analyst/Officer

$45,470

$41,238

$46,312

+12.30%

Manager

$66,502

$71,082

$69,287

-2.53%

Senior Manager/Associate

$100,365

$98,346

$104,318

+6.07%

Associate Director/ Vice President

$130,098

$115,584

$114,901

-0.59%

GM/Director/Principal

$151,588

$149,339

$146,145

-2.14%

Executive Director/MD/CEO/CFO/COO

$185,047

$192,136

$213,086

+10.90%

Annual Salary Is your salary paid over 12 months or 13 months? On average 68% of respondentsâ&#x20AC;&#x2122; salaries are paid over 12 months, with the highest being Malaysia (91%) and the lowest PRC (59%). 41% of PRC respondents, meanwhile, are paid over 13 instalments during the year.

100%

91%

80% 68%

68%

67% 59%

60%

40%

41% 32%

32%

33%

Singapore

Hong Kong

20% 9% 0% Average All 12 Months

Change to Salary at Last Review What change (if any) was made to your annual base salary at your last pay review? 63% of respondents secured a base salary increase, up from 69% last year, while 3% received a salary reduction, up from 1% last year. 34% of respondents did not see a change in their annual salary, up 4% versus the previous year.

Malaysia

PRC

13 Months

7% Up by 15%+ (-1%) 6% Up by 11-15% (-1%) 20% Up 6-10% (-3%) 28% Up by <5% (=) 3% Reduced (+2%) 34% Unchanged (+4%) 3% Up not disclosed (+1%)

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8.1% 6.2%

7.9%

8.1%

7.6%

7.4%

9.3%

9.2%

8.1%

10.0%

10.6%

10.5%

11.1%

12.9%

12.3%

12%

12.6%

15% 12.1%

Average Increase: Age What (if any) was the % increase of your salary? At 11.7%, the 18-24 age range received the largest average salary increase. Respondents aged between 41-50 also received a larger increase than last year (up from 8.1% to 9.3%), however, increases in average salaries for all other age groups slowed this year.

11.7%

AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )

0% 18-24

2014

25-30

2015

31-40

41-50

51-60

60+

2016

Average Increase: Region What (if any) was the % increase of your salary? AVERAGE INCREASE

CHANGE TO SALARY – LAST YEAR =





Total

9.6%

34%

63%

PRC

11.9%

43%

54%

Malaysia

10.0%

44%

54%

Hong Kong

8.7%

26%

72%

Singapore

7.2%

39%

56%

Annual Bonuses Received (US$pa) What was the approximate value of your annual bonus (or bonuses) over the last 12 months? 57% of respondents received a bonus (down from 59% last year) and the average bonus awarded was US$26,268 (up from US$24,528). Those who did not secure a bonus increased to 43% (from 41% last year).

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016 Results

15% $20.0K plus (-3%) 14% $10.0K - $19.9K (+1%) 13% $5.0K - $9.9K (+1%) 8% $2.5K - $4.9K (=) 7% Up to $2.49K (=) 43% Nil (+2%)

OVERVIEW BY MAIN PROFESSIONAL ACTIVITY

RESPONSES

AVERAGE SALARY

AVERAGE BONUS

Average Overall

1556

$95,480

$26,268

Analyst

$68,777

$12,276

Architect/Design

$87,847

$12,705

Building Surveying

$54,984

$4,564

Buying

$62,081

$9,291

CEO/MD/Head

$197,172

$90,695

CFO/Financial Director/Controller

$134,269

$24,025

Claims & Dispute Resolution

$191,462

$29,056

Commercial Agent

$83,000

$83,400

Consultant

$88,052

$18,671

CRE Transactions

$129,053

$38,324

Development Management

$148,047

$31,618

Energy

$108,757

$40,091

Engineering

190

$72,003

$10,038

Estates Surveyor (In-house)

$38,170

$8,500

Facilities Management

$96,884

$36,905

Fund Management

$144,592

$127,208

Geomatics

$73,952

$5,800

Health and Safety

$68,167

$5,360

Interior Design

$115,456

$12,490

Landscape Architect

$118,750

$13,000

Leasing

$86,173

$32,496

Marketing/International Project Marketing

$79,608

$9,833

New Build/Construction

$75,998

$13,385

Planner

$52,475

$14,687

Project Director

$158,108

$20,551

Project Management

133

$109,586

$20,331

Property Asset Management

$126,831

$40,325

Property Building Manager

$58,338

$15,641

Property Finance

$114,469

$51,974

Quantity Surveyor

146

$69,874

$9,504

Research

$60,163

$40,000

Sales & Marketing

$85,565

$13,396

Site Management

$53,050

$6,100

Valuation

$53,621

$13,632

Other

$96,241

$20,589

*Real Industry Change. The average increase of those respondents who reported a salary increase offset against those who reported a salary decrease as a %.

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CHANGE TO SALARY – LAST YEAR

NEXT 12 MONTHS – ANTICIPATED PAY & BENEFITS CHANGE



8.2%

37%

32%

 20%



63%

 3%

RIC*

34%

33%

67%

9.3%

43%

21%

39%

51%

10%

8.1%

32%

20%

34%

11%

86%

8.3%

18%

42%

27%

55%

45%

8.6%

20%

50%

20%

10%

37%

62%

9.7%

37%

22%

60%

40%

5.3%

47%

27%

21%

79%

9.4%

23%

46%

23%

75%

13%

1.5%

50%

25%

47%

8.5%

45%

18%

24%

27%

73%

11.4%

29%

50%

13%

18%

77%

7.2%

32%

16%

31%

63%

4.6%

15%

31%

15%

27%

69%

8.8%

33%

41%

15%

50%

40%

20%

40%

33%

60%

-1.1%

59%

37%

49%

51%

11.6%

51%

29%

11%

14%

86%

6.5%

14%

57%

14%

40%

60%

6.3%

13%

50%

38%

63%

26.8%

50%

25%

13%

50%

25%

-2.5%

67%

33%

14%

86%

12.4%

33%

24%

19%

31%

69%

9.1%

50%

25%

33%

64%

9.4%

41%

34%

16%

27%

73%

8.9%

36%

45%

34%

62%

7.6%

54%

29%

11%

38%

59%

6.1%

41%

28%

23%

37%

61%

8.0%

39%

31%

24%

27%

59%

14%

2.9%

33%

38%

19%

10%

40%

60%

9.2%

44%

56%

28%

72%

9.1%

36%

15%

40%

60%

25.5%

100%

50%

9.5%

38%

31%

19%

33%

56%

11%

4.2%

33%

22%

11%

49%

51%

10.6%

33%

26%

31%

13%

84%

6.9%

38%

13%

= SALARY WAS UNCHANGED

= NO CHANGE

SALARY WAS INCREASED

POSITIVELY

 SALARY WAS REDUCED

NEGATIVELY

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016 Results

LIKELY TO LEAVE PROFESSION ? DON’T KNOW 11

AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )

Employment Benefits Which of the following additional benefits are included in your current package? Health insurance (74%), 5 day working week (68%) and a mobile phone (45%) are the most popular employee benefits provided. The proportion of respondents who did not receive any employee benefits has risen slightly from 3% to 4% this year. The biggest decline in an employee benefit was paid overtime, down from 11% last year to 6% this year.

$140,874

$134,645

$137,630

$15,607

$15,731

$25,693

$24,528

$26,268

$96,087

$94,510

$95,630

2015

2016

$19,094

$120,000 $90,000 $60,000 $30,000 $0 2014 Average Salary

Average Bonus

20.6% 20% 15.9%

15.5% 15%

12.6%

10%

11.3%

8.8% 6.9%

Health insurance

70% 65%

5 day working week

65% 45% 45%

Mobile phone

Dental insurance 19%

13th month guaranteed bonus

Flights Lunches/Luncheon vouchers Other insurances Company car allowance Company car Profit share Flexitime

School fees

Tax efficiency scheme Sign on bonus Other None

25% 25% 26% 25% 24%

16% 16% 17% 14% 16% 16% 11% 15% 14% 14% 14% 17% 13% 14% 16% 11% 12% 13% 11% 12% 12% 12% 11% 12%

Pension/Gratuity

Club membership

51%

27% 28% 26%

Housing allowance

Share option scheme

74% 75%

69%

35% 37% 37%

Performance related bonus

Relocation package

Other

Moved job/new employer

Achieving professional qualification

Organisational restructure by employer

Counter offer by existing employer following attemped resignation

Paid overtime

Additional Remuneration

25%

Promotion

Average Salary Increase If your salary was increased please indicate % INCREASE. Of the respondents who received a salary increase this year and who answered what their annual salary increase was a result of, those who received an increase due to achieving professional qualification received the highest percentage increase, at 23.5%. Moved job/new employer recived the next highest increase at 18.4%. Those who received an annual salary increase as a result of an annual pay review had the lowest annual increase at 7.4%.

$150,000

Annual pay review

Average Real Estate Total Reward What was the approximate value of your annual salary, bonus and additional remuneration received (e.g. commission & performance related pay) over the last 12 months? The average total reward is US$137,630, up 2.2% on the previous year. The total reward includes the average annual salary, average annual bonus (or bonuses) and the average additional remuneration received (e.g. commission & performance related bonus) per annum.

11% 10% 8% 8% 10% 7% 7% 8% 6% 6% 6% 5% 6% 5% 6% 5% 8% 3% 3% 4% 5% 5% 5% 4% 3% 4%

10% 2014

20% 2015

30%

40% 2016

50%

60%

70%

80%

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MARKET ATTITUDES

Important Job Aspects How important are each of the following to you in your job? Salary continues to be the most important factor when it comes to job satisfaction (79%, equal to last year), followed by management style (69%, down from 71%), responsibility (64%, down from 66%), career progression (62%, down from 63%) and range of interesting work (60%, down from 63%).

79% 79% 75%

Salary

69% 71% 69%

Management style

64% 66% 63%

Responsibility Career progression

62% 63% 62%

Range of interesting work

60% 63% 63% 58% 59% 58%

Job security

55% 53% 56%

Working environment

54% 57% 54%

Training/ Development 39% 40% 39%

Location

37% 39% 36%

Range of clients

29% 33% 29%

Latest technology 24% 23% 24%

Travel opportunities

10% 2014

Holiday Usage Do you utilise your full annual holiday entitlement? 66% of respondents used their full annual holiday entitlement, up 1% from the previous year. 34% failed to take their full holiday entitlement.

Holiday Usage - Do Not Take Do you utilise your full annual holiday entitlement? Of the 34% who fail to take their full holiday entitlement, 27% are Managers, 18% are Analyst/Officers and 17% are GM/Director/Principal. Only 4% of those who fail to take full holiday entitlement are Assistant/Trainee/Graduates.

20% 2015

30%

40%

50%

60%

70%

80%

2016

66% Yes (+1%) 34% No (-1%)

4% Assistant/Trainee/ Graduate 18% Analyst/Officer 27% Manager 16% Senior Manager/Associate 9% Associate Director/Vice President 17% GM/Director/Principal 9% Executive Director/MD/ CFO/COO

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016 Results

AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )

Holiday Usage - Do Not Take (Cont.) Do you utilise your full annual holiday entitlement? Of the 34% who fail to take their full holiday entitlement, the majority work in Practice/Consultancy/Advisors (25%), Contractors (25%) or a Development/ Property Company (21%).

25% Practice/Consultancy/ Advisor 25% Contractor 21% Development/ Property Company 9% Financial Institution/Fund/Asset Manger 3% REITS 3% Facilities Management 2% Retailer 5% Governement 4% Occupier 2% Education 1% Non-profit making organisaiton

Job Satisfaction How satisfied overall are you with your current job? The majority of survey participants (80%) are fairly or very satisfied with their current job (equal to last year). 20% of respondents felt they were not at all or not very satisfied with their current job (equal to last year).

Employer of Choice Do you consider your current employer an employer of choice? Overall 65% (down 1%) of the survey respondents consider their current employer to be an employer of choice, which has decreased slightly in comparison to last year.

20% Very (-2%) 60% Fairly (+2%) 17% Not very (+1%) 3% Not at all (-1%)

65% Yes (-1%) 35% No (+1%)

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MARKET ATTITUDES

Moving Job How likely are you to change employer in the next 12 months? 61% of respondents state that they are either very or fairly likely to move job in the next 12 months, up from 60% last year.

26% Very (+2%) 35% Fairly (-1%) 30% Not very (=) 8% Not at all (-2%)

Moving Job - Likely to Move How likely are you to change employer in the next 12 months? Of the 61% of respondents that state they are either very or fairly likely to move job in the next 12 months, 30% are Managers, 19% Analyst/Officers and 17% Senior Manger/Associates. Only 4% are Executive Director/MD/CFO/COOâ&#x20AC;&#x2122;s and a further 7% are Assistant/Trainee/ Graduates.

Moving Job - Likely to Move (Cont.) How likely are you to change employer in the next 12 months? Of the 61% of respondents that state they are either very or fairly likely to move job in the next 12 months, 26% work at a Contractor and a further 24% at Practice/Consultancy/Advisors. They are followed by those working in a Developer/Property Company (23%) and Financial Institution/Fund/Asset Manager (7%). Only 1% are in Non-Profit Making Organisaitons and 1% in Education.

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016 Results

7% Assistant/Trainee/ Graduate 19% Analyst/Officer 30% Manager 17% Senior Manager/Associate 10% Associate Director/Vice President 12% GM/Director/Principal 4% Executive Director/MD/ CFO/COO

24% Practice/Consultancy/ Advisor 26% Contractor 23% Developer/ Property Company 7% Financial Institution/Fund/Asset Manager 3% REITS 6% Facilities Management 4% Retailer 3% Governement 3% Occupier 1% Education 1% Non-profit making organisaiton

AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )

Hiring Intentions Do you expect your organisation to increase headcount in 2016? Half of respondents (50%) believe their organisation will increase headcount in 2016 (down by 13% versus last year), with 41% of respondents expecting their organisation to modestly increase headcount and 9% expecting a significant increase in headcount in 2016.

9% Yes, significantly (-1%) 41% Yes, modestly (-12%) 37% No (+13%) 13% I am not sure (=)

Hiring Intentions At what level/role do you expect your company to hire this year? Of the respondents who expect their organisation to increase headcount in 2016, 69% believe their company will hire qualified or experienced professionals, while 19% anticipate their company hiring at graduate and entry level, down from 26% last year.

69% Qualified or experienced professionals (+4%) 7% Director level/senior appointments (=) 4% Other (+2)

Top 5 Positive

Top 5 Negative

60% 50%

50%

50% 46%

45%

42%

40%

41% 34%

30%

31%

31% 27%

20% 10%

Valuation

CFO/Financial Director/ Controller

Energy

Architect/Design

Buying

Engineering

Building Surveying

Planner

Claims & Dispute Resolution

0% CRE Transactions

Pay and Benefits by Main Professional Activity How do you anticipate that your pay and benefits will be affected by market conditions in the next 12 months? 50% working in CRE Transactions anticipate their pay and benefits will be positively affected by market conditions in the next 12 months, making them the most confident Main Professional Activitiy. They are followed by Claims & Dispute Resolution (46%) and Planners (45%). Those working in Buying are the least confident, with 50% anticipating their pay and benefits will be negatively affected.

19% Graduates/entry level roles (-7%)

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MARKET ATTITUDES

Top 5 Positive

Economic Activity by Main Professional Activity In your chosen profession, do you anticipate economic activity in the next 12 months? CEO/MD/Heads of organisations in the industry are the most positive about the economic outlook over the next 12 months with 48% anticipating an improvement in market conditions. This is followed by 38% of those working in both the Claims & Dispute Resolution and Energy fields. Analysts are the least confident with 70% anticipating a decrease in economic activity during 2016.

Economic Activity Change In your chosen professional activity, do you anticipate economic activity in the next 12 months to increase, decrease or remain unchanged? Those working in the PRC are generally the most optimistic with 23% anticipating an increase in economic activity (down from 28% last year). Only 14% of those working in Malaysia, however, anticipate an increase and 51% anticipate a decrease compared to 34% across Asia.

Top 5 Negative 70%

70%

62%

60%

36%

Planner

40%

Buying

37%

CFO/Financial Director /Controller

38%

Energy

38%

40%

Development Management

48%

50%

30% 20% 10%

Energy

Analyst

Leasing

CEO/MD/Head

Claims & Dispute Resolution

23% Average All

34% 43% 23% 33%

PRC

43% 22% 37%

Singapore

41% 20% Hong Kong

35% 45% 14% 51%

Malaysia 35% 0%

10% Increase

Economic Activity Change In your chosen professional activity, do you anticipate economic activity in the next 12 months to increase, decrease or remain unchanged? Negative sentiment has increased in the Asian Real Estate Market, with 34% of respondents anticipating economic activity will decrease (which is up from 18% last year), while 23% believe it will increase (down from 36%). However nearly half of respondents (43%) believe economic activity will remain unchanged over the next 12 months.

50%

Decrease

30%

40%

50%

46% 41%

40%

60%

Remain unchanged

48%

36%

43%

34%

30% 23%

20%

18% 11%

10%

0% Increase

2014

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016 Results

20%

2015

Decrease

Remain unchanged

2016

NOTES

â&#x20AC;&#x201D; Peter Moore, Managing Director Macdonald & Company, Singapore

People make the difference. We connect you to that difference. macdonaldandcompany.com

www.macdonaldandcompany.com/salary-survey

NOTES

â&#x20AC;&#x201D; Peter Moore, Managing Director Macdonald & Company, Singapore

People make the difference. We connect you to that difference. macdonaldandcompany.com

The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2016 Results

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Macdonald & Company is the leading professional recruitment consultancy for the real estate and built environment sectors. Established in 1994 and headquartered in the UK, we apply local knowledge with true global connection through our offices in Asia-Pacific, the Middle East and Africa. Our specialist teams act for every class of organisation owning, occupying, financing or advising on property, construction and engineering â&#x20AC;&#x201C; developers, investors, institutions, funds, banks, consultancies and contractors. We are the preferred recruitment partner of RICS - the Royal Institution of Chartered Surveyors. Macdonald & Company is a subsidiary of the London Stock Exchange quoted Prime People Plc. People make the difference. We connect you to that difference.

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