Are you an accountant working at a global bank in Hong Kong or a Big Four auditor trying to break into the banking sector? Either way, you’ll want to know how your salary stacks up against the market average at your level or what you can expect to earn when moving up a rank.
To give you some guidance, we reviewed recent Hong Kong salary surveys from recruitment firms across six key accounting job functions within banks: financial control, internal audit, management reporting, product control, regulatory reporting, and tax. We then averaged out the numbers to produce the tables below.
Financial control salaries in Hong Kong
Internal audit salaries in Hong Kong
Management reporting salaries in Hong Kong
Product control salaries in Hong Kong
Regulatory reporting salaries in Hong Kong
Tax salaries in Hong Kong
Of the six accounting jobs, internal audit is the best to work in if you want a high senior salary – directors earn HK$1,587k (US$205k) a year on average and MDs receive HK$1,800k (US$232). “A lot of banks are expanding their audit teams to include more subject-matter experts – experienced internal auditors or professionals from other business units with specific expertise in a certain product,” says Paula King, chief operating officer, Hong Kong, at recruiters Ambition. “Salary increments for changing jobs in audit in Hong Kong are typically 18% to 30%.”
Regulatory reporting salaries, already comparatively high, are expected to continue to rise – King says 15% to 25% increases are on offer if you move banks. “Most of the banks are increasing headcount to their HKMA regulatory reporting teams to support the tightening reporting requirements,” she adds.
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