The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2015
Executive Summary and Key Findings
2015 EXECUTIVE SUMMARY
2
www.macdonaldandcompany.com/salary-survey
Foreword 2015 marks nine years since Macdonald & Company ran its first rewards and attitudes survey in Asia and the growing success of this valuable market insight is supported by the highest response rate yet. I would like to extend a personal ‘thank you’ to all those who have participated this year, and especially to those who have been contributing for a decade. In such a diverse geographical area, with vastly differing economies and levels of development, our customers have always appreciated the insight into the market that the RICS/Macdonald & Company Salary Survey provides. In common with previous years, in depth granular data can be used to create bespoke reports on any particular country, demographic or industry sector; this Executive Summary provides some of the headline facts and results. I would welcome the opportunity to expand on any subject, should any of our readers like to arrange an appointment. Compared to 12 months ago, the survey is notable for respondents’ reduced confidence for ongoing growth in 2015. Those recording the greatest caution are from the “Sales & Marketing” industry group, reflecting the ongoing cooling measures introduced to the residential property market in key territories - China, Hong Kong and Singapore. Conversely, executives in the CFO/CEO bracket and the Property Finance arena are the most bullish about future prospects. This is an interesting comparison between the attitudes of industries affected by private and corporate appetites respectively. Looking deeper into the data, the story is a positive one suggesting that employees’ salaries are rising at a similar rate to the year before, bonuses remain robust and companies are set to continue hiring at a consistent level. These results reflect our practice’s experience in the last six months with our own economic activity rising; employee levels, fee income and client demand are all on the up. It seems that there is enough negative geopolitical news to keep industries, companies and individuals on their guard whilst the fundamentals suggest that growth will continue. That said, with 80% of respondents indicating they are happy in their current role but 60% still considering a move this year, retention strategies and remuneration for key employees should be high on the corporate agenda in 2015, if companies are to hit their targets. Macdonald & Company Asia Practice is now 35 people strong, with hub offices in Hong Kong and Singapore providing coverage across the whole
The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2015 Results
Asian region. We have consultants with expertise in real estate development, investment and consultancy, construction, project management and design. Our single practice structure comprises nationals from China, Hong Kong, Japan, Canada, Australia and the UK. Once again, thank you for your input into the survey and we look forward to working with you again in the coming year.
William Glover, International Director, Macdonald & Company, March 2015
Introduction Now in its ninth 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. 1,652 Asian real estate professionals participated online in December 2014 and January 2015 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 2015 survey is available at a cost of US $999. 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 seventh year, the results have been collated and analysed by BluSky Research (a research trading name of BluSky Marketing Limited – www.bluskymarketing.com).
3
KEY FINDINGS
are anticipating an improvement in economic activity (-12%*)
Negative business sentiment risen to 18% (+7%*)
of respondents received a base salary increase (-5%*)
Of the 51% who received an increase, the average was 9.8% (-0.3%*)
is the average salary for Asian real estate professionals (-$1,577*)
59% (versus 68%*) of all respondents secured an average bonus of $24,528 (-$1,165*)
4
*Versus last year
www.macdonaldandcompany.com/salary-survey
of respondents class their current employer as an employer of choice (+3%*)
are fairly or very satisfied with their current employment (+2%*)
of respondents believe their organisation will increase headcount in 2015 (-3%*)
Better salary continues to be the most important job aspect
An MRICS/FRICS earns $109,160 in comparison to a non professionally qualified counterpart who earns on average $81,060
Health insurance remains the the most popular employee benefit provided
The RICS and Macdonald & Company Asia Rewards & Attitudes Attitudes Survey Survey 2015 2015 4 Results Results
5
RESEARCH SAMPLE PROFILE
Response Rate Total In its ninth year with 1,652 respondents, the survey remains the most robust and respected survey of its kind with the highest response rate since it started in 2006. The response rate has risen by 8.3% on the previous year.
2,000 1,652
1,536
1,525
1,500 1,291
1,308
2011
2012/13
949
1,000
500
0 2009
2010
2014
2015
+ 8.3% 14/15 + 26.3% 13/15
Years’ Experience How many years’ experience do you have in your discipline? The general level of experience has fallen this year with the proportion of respondents who have over 16 years’ experience down to 44% from 47% the previous year. 45% of respondent have between 5 to 15 years’ experience compared to 40% last year.
40%
30%
30% 24%
24% 21%
20%
28%
26%
18%
19%
21% 16% 17% 16%
15% 10% 10%
10%
0%
2013
2014
11–15 yrs
16–20 yrs
Over 21yrs
46%
2015
44%
50%
8%
7%
7%
17%
9%
10%
10%
9%
16%
20%
15%
23%
30%
24%
40%
22%
Level of Responsibility What is the level of responsibility within the organisation for which you work? The distribution of respondents, by seniority, is largely the same as the previous year, although, Manager/ Associates and GM/director/Principals have both fallen by 2%, at 44% and 15% respectively.
5–10 yrs
44%
UP TO 4 yrs
0% Assistant/ Analyst
2013
6
Manager/ Associate
2014
Associate Director/Vice President
GM/Director/ Principal
Executive Director/MD/ CFO/COO
2015
www.macdonaldandcompany.com/salary-survey
AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )
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 declined, down to US$94,510 this year. The 1.6% fall in average salary across Asia could be partially attributed to a change in the profile of respondents. Manager/ Associates and GM/Director/Principals, are both down 2% from the previous year whilst those with over 16+ years’ experience have also decreased from 47% last year to 44% this year.
$100,000
$99,421
$98,000 $96,087
$96,000
$94,510 $94,000
$92,000
$90,000 2012/13
2014
2015
- 1.6% 14/15 - 4.9% 13/15
Average Salary (US$pa): Region What is your current annual base salary in US$? All regions showed a decline in annual average base salary in 2015, down by an average of 1.6% year on year. Those working in Hong Kong showed the smallest decline in average annual salary, down -3.4% year on year from US$98,929 to US$95,573. The PRC showed the largest declines in annual average salary, down -32.4% from US$138,400 last year to US$93,566 this year. This is perhaps due to a much larger % of respondents last year from the PRC being at a more senior level of responsibility and brings PRC salaries closer in line with the regional norm. Average Salary (US$pa): Region by Qualified RICS What is your current annual base salary in US$? Across the Asia region the average salary for a RICS qualified respondent increased from US$105,159 to US$109,160 (or a 3.8% increase) year on year. Those working in the Asian Real Estate market with a RICS qualification also secure a 34.7% higher average salary (US$109,160) against those who are not professionally qualified (US$81,060). Some regions showed declines year on year in average salary for a RICS qualified respondent, perhaps following the overall average annual salary decrease in Asia.
$94,510 $96,087
Average All
$99,421 $113,284 $125,580
Singapore
$135,937 $95,573 Hong Kong
$98,929 $100,349 $93,566 $138,400
PRC $106,633 $63,073 $71,804
Malaysia
$55,660 $0
$60,000
$30,000
2012/13
2014
$90,000
$120,000
$150,000
2015
$109,160 Average All
$105,159 $120,923
$153,630 $161,735
Singapore
$181,342
$103,187 $150,602
PRC
$120,938
$116,391 $111,591
Hong Kong
$107,903
$81,906 $94,000
Malaysia
$91,740 $0
$50,000
2012/13
The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2015 Results
2014
$100,000
$150,000
$200,000
2015
7
AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )
Average Salary (US$pa): Level of Responsibility What is your current annual base salary in US$?
2012/13
2014
2015
+/-
Total
$99,421
$96,087
$94,510
-1.6%
Assistant/Trainee/Graduate
$19,251
$22,959
$20,965
-8.7%
Analyst/Officer
$46,814
$45,470
$41,238
-9.3%
Manager
$72,850
$66,502
$71,082
6.9%
Senior Manager/Associate
$99,429
$100,365
$98,346
-2.0%
Associate Director/ Vice President
$120,067
$130,098
$115,584
-11.2%
GM/Director/Principal
$161,059
$151,588
$149,339
-1.5%
Executive Director/MD/CFO/COO
$235,344*
$185,047
$192,136
3.8%
* Response rate below 100 per response year
Annual Salary Is your salary paid over 12 months or 13 months? On average 69% of respondents’ salaries are paid over 12 months, with the highest being Malaysia (88%) and the lowest PRC (61%). Inversely, 39% of PRC respondents are paid over 13 instalments during the year.
100% 88%
80%
73%
69%
67% 61%
60% 39%
40%
33%
31%
20%
27% 13%
0% Average All 12 Months
Change to Salary at Last Review What change (if any) was made to your annual base salary at your last pay review? 51% of respondents secured a base salary increase, down from 56% last year, while 1% received a salary reduction. 22% of the respondents did not see a change in their annual salary, down by 7% versus the previous year.
Malaysia
Singapore
Hong Kong
PRC
13 Months
7% Up by 15%+ (+1%) 5% Up by 11-15% (-2%) 17% Up 6-10% (+1%) 21% Up by <5% (=) 1% Reduced (-1%) 22% Unchanged (-7%) 26% No Response (+13%) 1% Up not disclosed (-4%)
8
www.macdonaldandcompany.com/salary-survey
8.1%
7.9%
7.8%
8.1%
9.2% 7.4%
9.7%
8.1%
8%
9.2%
10.5%
12.9%
12.3%
14.5%
12.6%
10.6%
12%
12.1%
16%
9.6%
Average Increase: Age What (if any) was the % increase of your salary? Those aged 18-24 received the highest average annual salary increase at 12.6%. Respondents aged between 51-60 (up from 7.4% to 8.1%) and those aged 60+ (up from 7.9% to 8.1%) both received a greater average annual salary increase this year. However the other age groups received a reduction in annual salary increase, which reflects this year’s average annual growth of 9.8%, down from 10.1%.
12.9%
AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )
4%
0% 18-24
2012/13
25-30
2014
31-40
41-50
51-60
60+
2015
Average Increase: Region What (if any) was the % increase of your salary? AVERAGE INCREASE
CHANGE TO SALARY – LAST YEAR =
Total
9.8%
30%
69%
1%
PRC
10.7%
36%
63%
1%
Malaysia
9.2%
27%
72%
1%
Singapore
8.9%
31%
67%
3%
Hong Kong
8.8%
21%
79%
1%
Annual Bonuses Received (US$’000pa) What was the approximate value of your annual bonus (or bonuses) over the last 12 months? 59% of respondents received a bonus (down from 69% last year) and the average bonus awarded was US$24,528 (down from US$25,693). Those who did not secure a bonus increased to 41% (from 32% last year).
18% $20.0K plus (-4%) 14% $10.0K - $19.9K (+1%) 12% $5.0K - $9.9K (-3%) 8% $2.5K -$4.9K (-1%) 7% Up to $2.49K (-2%) 41% Nil (+9%)
The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2015 Results
9
OVERVIEW BY MAIN PROFESSIONAL ACTIVITY
RESPONSES
AVERAGE SALARY
AVERAGE BONUS
Average Overall
1652
$94,510
$24,528
Academic
6
$28,125
$15,210
Analyst
28
$56,090
$20,421
Architect/Design
75
$85,977
$23,948
Building Surveying
70
$57,015
$10,574
Buying
32
$75,319
$12,181
CEO/MD/Head
81
$198,623
$102,218
CFO/Financial Director/Controller
17
$177,286
$117,531
Claims & Dispute Resolution
30
$153,842
$23,398
Commercial Agent
17
$62,542
$37,333
Consultant
92
$77,535
$14,939
CRE Transactions
26
$115,516
$34,615
Design
12
$136,111
$31,725
Energy
12
$87,906
$12,035
Engineering
203
$61,780
$9,350
Environmental
10
$84,024
$6,833
Facilities Management
61
$112,914
$15,026
Fund Management
26
$118,962
$59,105
Geomatics
10
$67,809
$5,261
Health and Safety
14
$65,086
$6,900
Interior Design
17
$83,780
$10,327
Landscape Architect
6
$111,243
$15,200
Leasing
35
$84,504
$16,073
New Build/Construction
70
$115,444
$23,104
Planner
13
$106,940
$14,300
Project Director
44
$125,757
$19,216
Project Management
196
$94,728
$16,582
Property Asset Management
58
$125,591
$41,089
Property Building Manager
36
$93,467
$13,661
Property Finance
22
$93,288
$29,597
Quantity Surveying
17
$33,447
$8,682
Research
12
$94,580
$19,641
Sales & Marketing
62
$69,368
$13,766
Site Management
13
$85,177
$7,904
Valuation
80
$68,853
$17,783
Other
150
$101,142
$22,147
10
www.macdonaldandcompany.com/salary-survey
CHANGE TO SALARY – LAST YEAR
NEXT 12 MONTHS – ANTICIPATED ECONOMIC CHANGE
=
=
?
9.1%
35%
44%
13%
69%
1%
RIC*
30%
2%
7%
0%
100%
0%
8.5%
25%
25%
25%
25%
0%
35%
65%
0%
9.3%
27%
50%
12%
0%
12%
32%
66%
2%
9.5%
38%
38%
14%
0%
10%
25%
75%
0%
9.1%
24%
45%
27%
0%
4%
28%
68%
4%
9.7%
29%
33%
33%
0%
4%
35%
63%
2%
10.6%
35%
53%
11%
0%
2%
14%
86%
0%
6.8%
14%
64%
14%
0%
7%
26%
74%
0%
11.4%
32%
48%
12%
0%
8%
58%
42%
0%
11.5%
8%
58%
33%
0%
0%
35%
65%
0%
9.7%
33%
44%
17%
1%
4%
36%
59%
5%
12.9%
30%
55%
10%
5%
0%
25%
75%
0%
12.6%
38%
63%
0%
0%
0%
60%
40%
0%
8.3%
50%
30%
0%
10%
10%
27%
71%
1%
9.5%
33%
45%
13%
2%
6%
67%
33%
0%
14.0%
29%
57%
14%
0%
0%
34%
64%
2%
7.6%
47%
36%
7%
0%
11%
27%
73%
0%
10.1%
33%
50%
0%
4%
13%
14%
86%
0%
15.8%
44%
44%
0%
0%
11%
40%
60%
0%
8.2%
38%
63%
0%
0%
0%
25%
75%
0%
13.0%
45%
55%
0%
0%
0%
67%
33%
0%
10.0%
33%
33%
0%
0%
33%
24%
76%
0%
9.4%
33%
50%
8%
4%
4%
16%
82%
2%
7.2%
30%
59%
11%
0%
0%
30%
70%
0%
8.0%
20%
60%
0%
10%
10%
36%
64%
0%
8.6%
65%
13%
16%
0%
6%
39%
60%
1%
8.1%
39%
42%
9%
1%
8%
23%
77%
0%
7.5%
51%
35%
5%
2%
7%
15%
78%
7%
6.1%
22%
56%
15%
0%
7%
26%
74%
0%
13.1%
12%
59%
6%
12%
12%
42%
58%
0%
11.4%
30%
40%
20%
0%
10%
60%
40%
0%
13.5%
60%
30%
0%
0%
10%
26%
72%
2%
8.9%
27%
43%
16%
5%
9%
0%
91%
9%
11.3%
20%
70%
0%
10%
0%
30%
68%
2%
8.3%
33%
34%
26%
0%
7%
13%
84%
4%
9.4%
38%
38%
9%
2%
13%
*Real Industry Change. The average increase of those respondents who reported a salary increase offset against those who reported a salary decrease as a %.
The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2015 Results
11
AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )
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 for an Asian real estate professional is US$134,675, down from US$140,874 or -4.4% 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.
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%, up from 75% last year), followed by management style (71%, up from 69%), responsibility (66%, up from 63%), career progression (63%, up from 62%) and range of interesting work (63%, equal to last year).
$150,269
$155,000
$140,874
$21,996
$124,000 $28,852
$24,528
$99,421
$96,087
$94,510
2012/2013
2014
2015
$93,000 $62,000 $31,000 $0
- 4.4% 14/15 - 10.4% 13/15
79% 75% 78%
Salary
71% 69% 68%
Management style
66% 63% 67%
Responsibility
Career progression
63% 62% 65%
Range of interesting work
63% 63% 66% 59% 58% 61%
Job security
Training/Development
57% 54% 56%
Working environment
53% 56% 58% 40% 39% 42% 39% 36% 37%
Range of clients
33% 29% 31%
Latest technology
23% 24% 26%
Travel opportunities
0%
2012/13
2014
2015
10% 20% 30% 40% 50% 60% 70% 80%
Health insurance
61% 45%
Mobile phone
47%
Performance related bonus
31%
Dental insurance Housing allowance 13th month guaranteed bonus Pension/Gratuity Flights Lunches/Luncheon vouchers Other insurances
Company car Profit share Flexitime Paid overtime Relocation package Share option scheme School fees Club membership Tax efficiency scheme Sign on bonus Other None
0%
70%
63%
5 day working week
Company car allowance
12
$15,607
$25,693
Location
Employment Benefits Which of the following additional benefits are included in your current package? Health insurance (75%), 5 day working week (69%) and mobile phone (45%) are the most popular employee benefits provided, while the proportion of respondents who did not receive any employee benefits has decreased from 4%to 3% this year.
$134,645
$19,094
20% 16% 17% 20% 16% 16% 16% 15% 14% 11% 14% 17% 21% 14% 16% 9% 12% 13% 10% 12% 12% 8% 11% 12% 13% 11% 10% 8% 8% 10% 11% 7% 8% 8% 6% 6% 6% 6% 5% 5% 5% 8% 11% 3% 4% 2% 5% 5% 5% 3% 4% 4%
10%
20%
65%
75%
69%
51%
37% 37%
28% 26% 25% 25% 25% 24% 25% 24%
2012/13 30%
40%
50%
60%
2014 70%
2015 80%
www.macdonaldandcompany.com/salary-survey
MARKET ATTITUDES
Holiday Usage Do you utilise your full annual holiday entitlement? 65% of respondents used their full annual holiday entitlement, the same as the previous year. 35% fail to take their full holiday entitlement.
Holiday Usage (Cont.) Do you utilise your full annual holiday entitlement? Of the 35% who fail to take full holiday entitlement, 22% are Managers, 19% are Analyst/Officers and 18% are Senior/ Manager Associates. Only 4% of those who fail to take full holiday entitlement are Assistant/Trainee/Graduates.
65% Yes (=) 35% No (=)
4% Assistant/Trainee/ Graduate 18% Analyst/Officer 22% Manager 19% Senior Manager/Associate 12% Associate Director/Vice President 14% GM/Director/Principal 11% Executive Director/MD/ CFO/COO
Holiday Usage (Cont.) Do you utilise your full annual holiday entitlement? Of the 35% who fail to take full holiday entitlement, the majority of those respondents work in either Development/ Investment/Property Company (30%), Practice/Consultancy/Advisors (29%) or Contractors (20%).
29% Practice/Consultancy/ Advisor 20% Contractor 30% Development/Investment/ Property Company 4% Financial Institution 2% REITS 6% Facilities Management 2% Retailer 1% Occupier 2% Education 3% Governement 1% Non-profit making organisaiton
The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2015 Results
13
AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )
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 (up 2% from last year). However, 20% of respondents felt they were not at all or not very satisfied with their current job, down slightly from 22% last year (-2%).
Employer of Choice Do you consider your current employer an employer of choice? Overall 66% (+3%) of the survey respondents consider that their current employer is an employer of choice, which increased slightly in comparison to last year.
Moving Job How likely are you to change employer in the next 12 months? 60% of respondents state that they are either very or fairly likely to move job in the next 12 months, down from 62% last year.
22% Very (+2%) 58% Fairly (=) 16% Not very (-1%) 4% Not at all (-1%)
66% Yes (+3%) 34% No (-3%)
24% Very (-5%) 36% Fairly (+3%) 30% Not very (+1%) 10% Not at all (+1%)
14
www.macdonaldandcompany.com/salary-survey
MARKET ATTITUDES
Moving Job (Cont.) How likely are you to change employer in the next 12 months? Of the 60% of respondents that state they are either very or fairly likely to move job in the next 12 months, 21% are Managers, 21% Analyst/Officers and 17 Senior Manger/Associates. Only 5% are Assistant/Trainee/Graduates and further 5% are Executive Director/MD/CFO/ COO.
Moving Job (Cont.) How likely are you to change employer in the next 12 months? Of the 60% of respondents that state they are either very or fairly likely to move job in the next 12 months, 28% work within Practice/Consultancy/Advisors and a further 28% within Development/ Investment/Property Companies. They are followed by those working in Contractors (21%) and Facilities Management (8%). Only 1% are in NonProfit Making Organisaitons and 1% in Education.
Hiring Intentions Do you expect your organisation to increase headcount in 2014? Over half of respondents (63%) believe their organisation will increase headcount in 2015, with 53% of respondents expecting their organisation to modestly increase headcount and 10% expecting a significant increase in headcount in 2015.
The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2015 Results
5% Assistant/Trainee/ Graduate 21% Analyst/Officer 30% Manager 17% Senior Manager/Associate 9% Associate Director/Vice President 13% GM/Director/Principal 5% Executive Director/MD/ CFO/COO
28% Practice/Consultancy/ Advisor 21% Contractor 28% Development/Investment/ Property Company 4% Financial Institution 2% REITS 8% Facilities Management 2% Retailer 2% Occupier 1% Education 3% Governement 1% Non-profit making organisaiton
10% Yes, significantly (-3%) 53% Yes, modestly (=) 24% No (+1%) 13% I am not sure (+3%)
15
AVERAGE ASIAN REAL ESTATE SALARY & BONUSES (US$ )
Hiring Intentions At what level/role do you expect your company to hire this year? Of the respondents who expected their organisation to increase headcount in 2015, 65% believe their company will hire qualified or experienced professionals, while 26% anticipate their company hiring at graduate and entry level.
26% Graduates/entry level roles (+4%) 65% Qualified or experienced professionals (-3%) 7% Director level/senior appointments (+1%) 2% Other (-2%)
16
60%
59%
59%
56%
55%
Top 5 Negative Main Professional Activities
53%
50% 40% 33% 26%
20%
17%
16%
Project Director
27%
Consultant
30%
10%
60%
Top 5 Positive Main Professional Activities 53%
53%
Valuation
Building Surveying
Buying
CEO/MD/Head
CRE Transactions
Property Building Manager
New Build/Construction
Property Finance
0%
Top 5 Main Professional Activities
52%
50%
45% 41%
40%
30%
30%
28% 24%
22%
21%
20% 10%
Buying
Property Building Manager
Consultant
Valuation
Sales & Marketing
New Build/Construction
Architect/Design
CRE Transactions
0% CEO/MD/Head
Economic Activity by Main Professional Activity In your chosen profession, do you anticipate economic activity in the next 12 months? Property Finance is also one of the most positive about the economic outlook in the next 12 months with 53% anticipating an increase in economic activity during 2015, with 53% of CEO/MD/Heads anticipating the same followed closely by CRE Transactions (52%). Those working in Sales & Marketing are the least confident, with 30% anticipating a decrease in economic activity during 2015.
Top 5 Positive Main Professional Activities
Property Finance
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? 59% working in Property Finance and 59% in New Build/Construction anticipate their pay and benefits will be positively affected by market conditions in the next 12 months, making them the most confident Main Professional Activities. They are followed by Property Building Manager (56%) and CRE Transactions (55%). Those working in Buying are the least confident, with 33% anticipating their pay and benefits will be negatively affected.
www.macdonaldandcompany.com/salary-survey
MARKET ATTITUDES
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 Singapore are generally the most optimistic with 35% anticipating a increase in economic activity (down from 55% last year). Only 22% of those working in Malaysia however anticipate an increase compared to 36% across the Asian regions.
36% Average All
18% 46% 35%
Singapore
17% 48% 35%
Hong Kong
10% 55% 28%
PRC
34% 38% 22%
Malaysia
36% 42% 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? 36% of respondents anticipate the economic activity to increase (down from 48% last year), while 18% believe it will decrease (up from 11%). Nearly half of the Asian region respondents (46%) believe economic activity will remain unchanged over the next 12 months.
50%
Decrease
30%
40%
50%
60%
Remain unchanged
48%
48%
40%
46% 41%
40%
36%
30%
20%
18% 12%
11%
10%
0% Increase 2012/13
The RICS and Macdonald & Company Asia Rewards & Attitudes Survey 2015 Results
20%
2014
Decrease
Remain unchanged
2015
17
London 2 Harewood Place, Hanover Square, London W1S 1BX T +44 (0) 20 7629 7220 F: +44 (0) 87 0442 1737 E: connect.uk@macdonaldandcompany.com Manchester York House, 20 York Street, Manchester M2 3BB T: +44 (0) 161 605 0500 E: conect.uk@macdonaldandcompany.com Dubai Knowledge Village, Dubai Media City (TECOM), Block 11, Office F13, P. O. Box 282196 Dubai, UAE T: +971 4 4366 393 E: connect.dubai@macdonaldandcompany.com Hong Kong 16th Floor, 1 Duddell Street, Central, Hong Kong T: +852 2248 3000 E: connect.hk@macdonaldandcompany.com Singapore 63 Market Street #05-02, Bank of Singapore Centre Singapore, 048942 T: +65 6713 9640 E: connect.sing@macdonaldandcompany.com South Africa Corner House, Corner 10th Avenue & Wessel Road Rivonia 2128, South Africa T: +27 10 005 1520 E: connect.sa@macdonaldandcompany.com www.macdonaldandcompany.com
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.
Prime People PLC