Survey shows mixed picture on bonus front.
The eFinancialCareers 2011 APAC Bonus Survey, encompassing the views of over 1,200 finance professionals from the region including 343 from Hong Kong and China, revealed this year’s bonus trends and it’s a mixed picture. Whilst a third of surveyed finance professionals in APAC experienced a decrease in bonuses in 2011, a similar proportion enjoyed an increase and those surveyed in Hong Kong and China fared slightly better than their counterparts in Singapore.
Top earners across the region saw the highest decrease. Those in the highest salary quintile—with the top 20% salary levels—were much more likely to report a decline in bonus, 47%, than those in the bottom salary quintile, 29%. ‘Personal performance’ was mostly cited as the reason for increased bonuses and ‘firm performance’ was cited by those who experienced a decrease in their bonus amount in 2011.
Respondents were asked about ‘satisfaction’ with their bonus and also how it compared to their expectations.
Across the region, satisfaction levels with bonus payments were at their highest in Australia, where nearly half said they were either very satisfied or somewhat satisfied. This compared to four in ten respondents in both Singapore, and Hong Kong and China. The highest 2011 mean bonus in the region was also paid in Australia, and the lowest in Singapore. In Hong Kong and China, 37% of respondents reported their bonus ‘was beneath expectations’.
Only 11% of financial employees in Hong Kong and China said their 2011 bonus ‘exceeded expectations’. “Considering the results from the investment banks in the second half of 2011 these figures should be of no surprise. Disappointment among finance professionals, however, should not be ignored, as it is a legitimate source of concern. Firms may not fear retention reprisals this season, given the targeted layoffs and moderation in recruitment activity, but top performers may consider moving on if a better opportunity comes along,” commented George McFerran, Managing Director, Asia Pacific, eFinancialCareers.
Paul Arkwright
Publisher
