SALARY SURVEY 2020 CANADA WE ARE POWERING PEOPLE AND ORGANISATIONS TO “ FULFIL THEIR UNIQUE POTENTIAL. ” WELCOME TO ROBERT WALTERS SPECIALIST PROFESSIONAL RECRUITMENT

Since opening our doors over 30 years ago, people have been at the heart of everything we do, from the jobseeker to the hiring manager and those who bring them together. As a market-leading global recruitment group, we see our role as that of a trusted advisor – helping our candidates and clients to build fulfilling careers and grow effective teams both now and into the future.

As we continue to grow internationally, we remain committed to our founding principles: a strong team-based culture that puts clients and candidates first, a passion for quality in all that we do, a commitment to treating people with integrity, and an innovative spirit that propels us to constantly improve.

These values lead us to prioritise building long-term relationships – we advise and consult but never force people into making decisions that aren’t right for their business or career goals. We believe that our consultative approach sets us apart from the competition and continues to cement our reputation as a recruiter of choice, trusted by the world’s leading organisations and professionals.

In addition, we are experts in the disciplines we recruit for, enabling us to provide our clients and candidates with quality insights into hiring and salary trends. Our regional Salary Surveys are designed to help you make informed hiring decisions ROBERT WALTERS, and salary negotiations. If you would like to discuss these topics further, please CHIEF EXECUTIVE OFFICER don’t hesitate to contact your local Robert Walters office listed in the back of this book.

Robert Walters CEO Robert Walters Group

OF OUR BUSINESS IS FOCUSED ON 69% PERMANENT RECRUITMENT, 31% ON CONTRACT GLOBAL REACH, LOCAL EXPERTISE

Countries we operate in

AUSTRALIA INDONESIA SOUTH AFRICA BELGIUM IRELAND SOUTH KOREA BRAZIL JAPAN SPAIN CANADA LUXEMBOURG SWITZERLAND 31 CHILE MALAYSIA TAIWAN WE RECRUIT CHINA MEXICO THAILAND CZECH REPUBLIC NETHERLANDS UAE ACROSS 31 FRANCE NEW ZEALAND UK COUNTRIES GERMANY PHILIPPINES USA PORTUGAL VIETNAM GLOBALLY INDIA DOWNLOAD OUR SALARY SURVEY BOOKS To discover hiring and salary trends across the world, read our Global Trends on page 10 or download our books covering:

• Australia & New Zealand • Belgium & Luxembourg • Netherlands • United Kingdom • Greater China & South East Asia • France • Portugal • Middle East & Africa • Japan • Germany • Spain • Canada • South Korea • Ireland • Switzerland • Latin America

Download your copy today by visiting www.robertwalters.com/salary-survey OUR SERVICE

In an increasingly complex global recruitment market, the WHAT MAKES US DIFFERENT? Robert Walters Group builds great teams for our clients by Bespoke, consultative service offering an end-to-end recruitment service, on a local, regional or global basis. 1. Commitment to quality OUR CORE DISCIPLINES INCLUDE: We focus on building long-term, high-quality relationships • Banking & Finance with clients and candidates. We consult and advise, helping • Business Support our candidates make the right career move. This builds trust and loyalty and ensures we continually have the industry’s • Commerce top talent for our clients. • Engineering & Construction

• Human Resources 2. Specialists • Legal We hire from industry to ensure our consultants are • Procurement & Supply Chain specialists in the disciplines they recruit for. They also • Sales & Marketing bring with them strong personal relationships and industry networks, enabling them to find hard to reach talent with • Technology niche skill sets. Robert Walters is our Working with Robert Robert Walters has open, preferred recruitment Walters has been really honest and experienced partner. They are able seamless and rich, thanks consultants. They offer a to identify talent that we to the insights that the broad knowledge of the “ would not have been able “ consultants bring in. I’ve “ market and have access to find or engage with enjoyed my experience to an extensive network of ourselves. working with Robert experienced candidates. Walters over the last 10 I’d recommend using Razmig Hovaghimian, years. Robert Walters to any Founder & CEO, prospective organisation. Hoodline, USA Atul Gaur, HR Director, L’Oréal, Singapore and Shaq Mohajerani, Head Malaysia of Development, Hanwha ” Energy, Australia ” ”

3. No individual commission 5. Innovation culture We operate a team-based profit-share system which, we We were the first recruiter to launch a recruitment process 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 an in-house innovation team which tests and trials the latest candidate remain our number one priority. There is also no recruitment technologies. ownership of candidates, ensuring clients always see the best talent we have available. 6. Long-term business focus Our strategy is one of organic growth through international 4. Our people and culture expansion and discipline diversification. We invest in markets for We promote long-term, international careers, which helps us to the long term and maintain our presence, even in tough times. retain our top people, providing continuity for our clients. We’re proud to say our senior management team is home-grown with 7. End-to-end recruitment service an average tenure of 22 years. We offer clients a true end-to-end recruitment service, from permanent, contract and interim recruitment through to recruitment process outsourcing. CONTENTS

INTRODUCTION REGIONAL OVERVIEWS CANADA

About the Salary Survey...... 09 Australia & New Zealand...... 14 COUNTRY OVERVIEW...... 32 Global Trends...... 10 Greater China...... 16 Japan & South Korea...... 18 Accounting & Finance...... 34 South East Asia...... 20 Legal & Compliance...... 37 Europe...... 22 Middle East & Africa...... 24 CONTACT US...... 39 US & Canada...... 26 Latin America...... 28 DOWNLOAD OUR SALARY SURVEYS

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 • Netherlands • Greater China & South East Asia • Portugal • Japan • Spain • South Korea • Switzerland • Belgium & Luxembourg • United Kingdom • France • Middle East & Africa • Germany • Canada • Ireland • Latin America Download your copy today by visiting www.robertwalters.com/salary-survey WELCOME TO THE 21ST EDITION OF THE GLOBAL SALARY SURVEY PROVIDING CREDIBLE INSIGHT INTO HIRING AND SALARY TRENDS WORLDWIDE.

8 Robert Walters Salary Survey 2020 Our Salary Survey is based on ABOUT THE the analysis of permanent, interim SALARY SURVEY and contract placements made across each of our geographies and Welcome to the 21st edition of the recruitment disciplines during 2019, annual Robert Walters Salary Survey. and our predictions for the year ahead. As the first recruitment company to produce a comprehensive overview GET IN TOUCH of global salaries and recruitment If you would like to find out more trends across the world, we are about salaries and recruitment pleased to share the latest edition trends in your industry, call one of with you. our specialist consultants today. Contact details can be found at the back of this book.

ABOUT THE SALARY SURVEY 9 GLOBAL TRENDS

GLOBAL OVERVIEW second half due to uncertainty caused moving specific aspects of production Overall the global hiring market was by the US-China trade war, Brexit out of Mainland China to locations such active in 2019 despite widespread and the difficulty of building a stable as Taiwan and South East Asia, which economic and political uncertainty. government in Spain. impacted hiring. Demand for specialist technology skill sets as well as risk, regulatory Brexit continued to dominate the South East Asia experienced a and compliance professionals led to headlines in the UK, impacting hiring predominantly buoyant hiring market candidate shortages in many markets. in many sectors; however, there in 2019, particularly in the high-growth were pockets of hiring activity across markets of Indonesia, the Philippines, Across Europe, we saw demand for technology, fintech, property and Thailand and Vietnam. Demand for talent outstripping supply as businesses professional services. ‘glocal’ talent – professionals with a continued to hire. In France, the strong understanding of both global recruitment market performed well in In the Middle East, recruitment business practices and local cultural 2019 despite employers pausing hiring activity was high for most of 2019. mindsets – continued as more activity during times of difficulty such as Nationalisation remains a key priority in businesses internationalised. the yellow vests (gilets jaunes) protests. the UAE and Saudi Arabia, leading to local talent shortages, wage inflation In Japan, acute talent shortages Belgium experienced strong economic and nationals moving roles more continued due to the nation’s declining growth in 2019, which led to an frequently. We saw similar trends across and ageing population as well as high active hiring market and widespread Africa as companies sought to adhere demand for bilingual professionals with talent shortages. Across the border to government nationalisation policies. international expertise. Companies in Germany, hiring was buoyant as specialising in cloud computing, AI, traditional Mittelstand companies Throughout Greater China, the local focused on digitalisation and foreign market outlook became increasingly companies grew their presence. uncertain in the latter half of 2019, As top talent prioritise Similarly, in the Netherlands, a strong with the US-China trade war weighing keeping their skills up economy and an exceptionally low heavily on sentiment. Candidates to date, we recommend unemployment rate led to candidate became harder to source as “ employers offer clear shortages across all disciplines. professionals proved reluctant to learning and development change roles in uncertain market opportunities to attract In Spain, hiring activity was high in the conditions. We also saw manufacturers in-demand professionals. first half of 2019 but reduced in the taking action to avoid US tariffs by 10 Robert Walters Salary Survey 2020 ” future mobility and smart factories these skill sets within the banking Advice to employers increased hiring in 2019 in preparation and financial services sector as In order to secure top talent with for the rollout of 5G in 2020. businesses sought to adhere to new specialist skill sets we recommend regulations and guidelines set by their employers run swift and efficient In Australia and New Zealand, the central banks. Japan continued to recruitment processes, ensuring offers economic environment looks set to strengthen its financial regulations are made in a timely manner. As in- prevent any widespread jobs and salary and companies faced greater scrutiny demand professionals consider moving growth in the near to mid-future. The over their handling of personal data, roles they will focus on more than the exceptions will be in sectors where leading to high demand for audit, risk salary on offer – they are keenly aware demand outstrips supply – most and compliance professionals. In the of the need to keep their specialist notably in technology, financial services Netherlands, salaries for compliance, skills up to date, so we recommend and infrastructure. regulatory reporting and risk businesses offer clear learning and management specialists are expected development opportunities to attract KEY TRENDS to rise in 2020 due to extreme talent the best talent on the market. Acute tech talent shortages shortages. Across most markets the demand for technology professionals with specialist skill sets will continue to outstrip IN 2020 WE EXPECT supply in 2020. Digital transformations TO SEE EMPLOYERS are continuing apace across many VYING FOR TALENT industries in China, Hong Kong, WITH EXPERTISE IN AI, Australia and New Zealand, so in 2020 BIG DATA, UX, we expect to see employers vying DEVELOPMENT AND for professionals with expertise in AI, big data, UX, development and cyber CYBER SECURITY. security. “

Digital experts, data scientists and cyber security specialists will also be in high demand across Brazil, Chile and Mexico as companies migrate their businesses online and deal with the extra security challenges this presents. In San Francisco, companies will struggle to hire software and machine learning engineering specialists due to a shortage of qualified professionals.

Demand for risk and compliance skill sets As regulatory requirements evolve alongside digitalisation, companies are seeking professionals with expertise in risk, compliance and audit. South East Asia saw strong demand for

futuremobility and smart factories increased hiring in 2019 in preparation for the rollout of 5G in 2020. 11 REGIONAL TRENDS

With our presence spanning 31 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 2019 and their predictions for the year ahead.

Our regional overviews include:

• Australia & New Zealand • Greater China • Japan & South Korea • South East Asia • Europe • Middle East & Africa • US & Canada • Latin America THE GROUP’S INTERNATIONAL NETWORK OF OFFICES SPANS 31 COUNTRIES AND SIX CONTINENTS ENABLING US TO MEET THE DEMANDS OF CLIENTS AND CANDIDATES WHOSE NEEDS EXTEND BEYOND LOCAL MARKETS AUSTRALIA & NEW ZEALAND

INTRODUCTION and cyber security. For professionals The prevailing global and local with these more niche skill sets, we Our presence in Australia & economic headwinds look set to anticipate further salary increases and New Zealand: prevent any widespread jobs and salary premium rates for contractors. growth in the near to mid future. That • said, in the Australia and New Zealand Concerns about widespread • markets, 2020 offers some reasons for unemployment due to automation and • Brisbane cautious optimism, as we anticipate artificial intelligence have, so far, proved • Chatswood salary growth in selected sectors where unfounded. In 2020, we expect some • Christchurch there is high demand and limited supply transactional roles to become obsolete, — most notably in technology, financial but new technology jobs will be created • services and infrastructure. in areas such as design, programming • and analysis. • BRIGHT FUTURE FOR TECH • Wellington SPECIALISTS REPAIR JOBS AT THE BANKS Technology transformations are In the wake of Australia’s recent Royal continuing unabated across every Commission, financial institutions remediation and compliance projects industry in Australia and New Zealand. are under enormous pressure from across the banking, financial services As a result, 2020 will see employers regulators, legislators, government, and insurance sectors — on both vying for professionals with expertise in media and their customers. The result sides of the Tasman. Experienced development, UX, data management is an unprecedented focus on risk, professionals who can deliver these

14 Robert Walters Salary Survey 2020 massive programs are relatively scarce, helping to ease the disconnect between too close to call, we can predict two and so demand (and salaries) are likely skills that the next generation of talent possible knock-on effects. First, many to remain high. are being taught and what businesses employers are likely to wait until after need. the election before embarking upon CAUTIOUS GROWTH IN any major hiring campaigns. Second, INFRASTRUCTURE the jobs market in Wellington will be Australia and New Zealand will remain In 2020, we anticipate salary dominated by contract and contingent committed to long-term nation-building growth in selected sectors roles until after the election result is programs throughout 2020. Investment of high demand and limited known. in traditional infrastructure projects supply, most notably in such as transport, health and education technology, financial services In Australia, 2020 will see local elections will continue to stimulate demand for and infrastructure. in Queensland and the Australian civil engineers and project managers, Capital Territory. Enterprise employers as well as professionals in ancillary in these states may see elections as sectors. And while the emerging an opportunity to gain an advantage renewables sector is showing signs ADVICE FOR CANDIDATES over their competitors. Aggressive of promise, and the creation of some 2020 will be a year of opportunity hiring campaigns in areas of skills new jobs, uncertainty may linger until for professionals with skills in the shortages during election season could the Australian Government articulates a aforementioned areas of high demand yield a windfall of talent, as many other more comprehensive energy policy. and short supply. Approaches and employers may have scaled down their offers from prospective employers are recruitment activity. ADVICE FOR EMPLOYERS likely to be common, but our advice Where skills shortages exist, hiring to these individuals is that not every Both the Australian and New Zealand managers have much to do in 2020. job is equal. Do your research about governments are currently tightening Money talks, of course, but high possible employers, know what your immigration restrictions. For many salaries and premium rates may not market value is, and remember that in employers, this means that their best be enough to entice specialists to a fast-moving jobs market this golden chance of hiring overseas talent in join your organisation. Apart from moment may not last long. In 2020, we 2020 will be to work with a recruitment flexible working, which remains a high recommend that in-demand specialists partner who can offer access to an priority for many, professionals are seize the day. international talent network as well acutely aware of the need to keep as expert, up-to-the-minute skilled their specialist skills up-to-date, so POLITICAL LANDSCAPE IN 2020 migration advice and support. employers who can offer cutting-edge While the outcome of New Zealand’s projects and substantial personal 2020 general election currently appears development opportunities will be those who attract and retain the best talent.

‘Potential’ should be the watchword for many employers in 2020. During selection processes, employers should remain open-minded when candidates are a good cultural fit but short on technical experience. A comprehensive learning and development strategy can help plug technical gaps, whilst also

15  GREATER CHINA

GREATER CHINA MAINLAND CHINA The global economy and local market The impact of lingering economic trade Our presence in Greater China: outlook became increasingly uncertain frictions and market uncertainties put • in the second half of 2019, with the pressure on the job market in 2019. impact of the US-China trade war The slowdown in hiring was more • continuing to weigh on sentiment, apparent in the manufacturing sector • particularly in Hong Kong and Mainland where companies are trying to avoid • Southern China China. tariffs by moving specific aspects of • Hong Kong production out of Mainland China. • Despite the risks, we saw demand for candidates in key growth areas. The Organisations in the region took steps technology industry was one of the to adapt by adding value to their capabilities, through initiatives such as fastest-growing markets across Greater existing products and considering the development of as a hi- China and, because of the innovative expansion into international markets tech model city. Technology will remain and highly skilled nature of the industry, through free trade zones and the Belt a growth sector with employers looking there was an ongoing shortage of and Road initiative. This drove demand to secure experienced professionals in suitably qualified candidates. Employers for candidates with strong technical R&D, big data and artificial intelligence. found talent harder to source, as skills, solid business development professionals were reluctant to switch capabilities and international work In 2020, we expect both candidates roles because of the uncertainty caused experience. Despite relatively slower and hiring managers to remain cautious by changing market conditions. growth, the country continues to due to uncertain market conditions. strengthen its digital transformation 16 Robert Walters Salary Survey 2020 While the total number of jobs may Towards the second half of the year, OUTLOOK FOR 2020 decline, demand is expected to export-oriented companies became Demand for specialists is likely continue for highly skilled professionals. more conservative in their operations to continue in 2020, despite the due to the US-China trade war. We uncertain economic situation. HONG KONG saw manufacturers and electronics With skills shortages likely to be With ongoing political and economic companies reshoring some production exacerbated, companies are expected uncertainty, Hong Kong has faced a to place greater emphasis on retention challenging period in 2019, from trade strategies. Moderate salary rises are and tourism to consumer sentiment There is an atmosphere of anticipated across Greater China, and and capital markets. Nevertheless, it cautiousness across the companies are advised to promote retains its appeal to companies as a region and the outcome of clear career development and smart global business and finance hub. the US-China trade war will workplace policies like flexible working, play a determining role in which are increasingly valued by In 2019, financial services firms took a the market and employment employees. relatively cautious approach to hiring, conditions in 2020. with the exception of virtual banking Candidates looking for a new role and fintech. With the issue of eight should embrace digitalisation and virtual banking licences, the demand lines from Mainland China to other innovation to ensure they remain for specialists ranging from C-level regions in Asia, including Taiwan. The current and relevant in a changing to managers has been on the rise in inflow of investment has driven demand job market. In-demand professions all areas of finance, legal, technology for technology and software talent. and specialist roles will continue to and risk and compliance, as well as At the same time, there is continuous command premiums and yield lucrative operational and HR roles. This has been demand for engineering specialists new opportunities, but general salary the backbone of financial services hiring within renewable energy industries. inflation will be subject to, and defined over the last 12 months and we expect Compensation is expected to be by, the outcome of the variable to see strong growth in this area in 2020. steady, with levels set on a case-by- macroeconomic conditions. case basis, depending on individuals’ Organisations across a range of expertise and performance. different industries will continue their digital transformations, leading to sustained demand for analytics, big data, DevOps and digital specialists. At the same time, we have seen a noticeable shift towards contract hiring as businesses looked to build an agile workforce that can adapt to the fluid economic conditions. We expect this trend to continue in 2020. TAIWAN Taiwan started 2019 with better-than- expected economic growth, resulting in buoyant hiring levels across several industries, including technology, FMCG and healthcare. 17  JAPAN & SOUTH KOREA

JAPAN mobility (connected cars and Despite global economic and autonomous driving), smart factories Our presence in Japan & South geopolitical uncertainty, demand for and medtech increased hiring in 2019 in Korea: talent far outstripped supply in 2019 preparation for the rollout of 5G in 2020. with a job openings-to-applicants ratio In addition, the digital sector has seen • of 1.6 to 1. Japan’s labour shortages strong growth in smartphone payment • continued unabated due to its declining services, with many new offerings • and ageing population, as well as launching in quick succession. As a increased demand for talent with result, talented individuals have flocked English-language skills and international to the industry, including candidates with expertise. Both foreign-affiliated firms financial backgrounds, app developers, in central nervous system disorders, and and Japanese companies operating security experts and other professionals oncology and regenerative medicine. internationally are driving this demand able to draw from a diverse range of Following Japan’s interest in the 100- for bilingual talent with international experience and skills. year lifespan concept, which focuses on or global business exposure. Other positive longevity, hiring has increased at businesses operating locally, such as The medical industry continues to hire manufacturers producing ingredients for transport networks, retailers, hotels and in order to keep pace with Japan’s dietary supplements and organic food service and entertainment companies, ageing population, with life sciences products. are beginning to follow suit. specialists in particularly high demand. Medical device firms and pharmaceutical In 2019, Japan continued to strengthen Companies specialising in cloud companies are searching for its financial regulations following computing, artificial intelligence (AI), professionals specialising several high-profile incidents involving

18 Robert Walters Salary Survey 2020 cryptocurrencies and smartphone high-growth field remaining strong. transition to smart factories is taking payment fraud. Similarly, companies In addition, the rapid growth of the place as part of the Fourth Industrial are under increased scrutiny regarding biotechnology industry has expanded Revolution. Whereas manufacturers of their collection and usage of personal the market for analytical devices and internal-combustion engine vehicles data, which requires compliance with diagnostics, leading to increased hiring experienced a decline against a the Personal Information Protection Law. in these areas. backdrop of poor business performance Both these things have led to increased in South Korea, the autonomous demand for cyber security, audit, risk and electric car industries continued and compliance professionals. Both foreign-affiliated to boom. With that, the demand for firms and Japanese bilingual data scientists, deep learning In 2020, legislation designed to ensure companies operating engineers and autonomous system equal pay for equal work will come internationally are driving platform specialists in the manufacturing into force. This will give those in part- demand for bilingual field will continue in 2020. time and temporary work more stable talent with overseas employment conditions, an uplift in experience. Turning to new and renewable wages and an increase in opportunities energy, the Korean government has to receive full-time employment. On announced the ‘Renewable Energy the employer side, we expect to see Competition for technology specialists 3020 Implementation Plan’, with the companies utilising contractors even continued to intensify with the goal of producing 20% of the country’s more as they seek to secure specialised development of new business models energy from renewable sources by talent at short notice in order to launch converging IT and healthcare, as well 2030. With the accelerated introduction new projects or move into new markets. as across-the-board digitalisation of of infrastructure for solar, wind and many industries including retail, logistics, hydroelectric power generation, the SOUTH KOREA manufacturing and finance. Demand for demand for top talent in these areas is With the implementation of the new technology skills remains strong growing steadily. 52-hour workweek, another rise in the in the manufacturing sector, where a minimum wage and prolonged US-China trade tensions, foreign direct investment (FDI) in Korea declined in the first half of 2019 compared to 2018. Despite this, FDI in the first half of 2019 actually surpassed the 10-year average, indicating that general upward movement continues.

In 2019, the Korean government invested heavily in the biotechnology sector, along with future mobility (autonomous and electric vehicles) and renewable energy, to lead the country’s economic growth into the future. As a result, the biotechnology industry drew exceptional attention from foreign investors in 2019, with demand for highly skilled talent in this potentially 19  SOUTH EAST ASIA

A SOLID GROWTH KEY HIRING TRENDS TRAJECTORY Hybrid skill sets sought after Our presence in South East Asia: In 2019, hiring activity in South East As companies continue their Asia was predominantly buoyant, digitalisation journeys, hiring managers • Indonesia particularly in the high-growth markets are looking for experienced technology • Malaysia of Indonesia, the Philippines, Thailand professionals with hybrid skill sets. • Philippines and Vietnam. Elections in the first half Specifically, they are seeking mid- • Singapore of the year saw businesses take a more level and senior managers who can • Thailand conservative approach to hiring, but help their teams navigate change and • Vietnam activity recovered in the latter half of ensure the successful adoption of new 2019. In Malaysia and Singapore, hiring technologies. showed steady signs of growth, with Across the board, there is strong robust activity in technology. Outside of the technology function, demand for professionals who are employers are seeking professionals able to apply their technical expertise Across the region, technology and with the ability to leverage new to a broader commercial context that transformation remains a major focus technology within their work to drive positions the organisation for growth. for businesses, which is in turn shaping the business forward. For example, ‘Glocal’ talent, or professionals who hiring trends. HR professionals who are well-versed have a good understanding of both in workforce analytics and finance global and local cultures and mindsets, professionals with expertise in business are also in demand as businesses intelligence are increasingly in demand. continue to internationalise.

20 Robert Walters Salary Survey 2020 Risk and compliance professionals HIRING TOP TALENT a commitment to learning and in demand Broadly speaking, demand outstrips development, while also demonstrating Regulatory requirements and the supply of well-rounded talent who how the role contributes to the wider guidelines across the region have demonstrate strong expertise in their organisation. evolved alongside digitalisation. This own field, the ability to leverage new has resulted in strong demand for technologies to drive efficiencies in their To meet the need for ‘glocal’ talent, risk and compliance professionals as own work and a commercial mindset. we encourage employers to search businesses within the banking and As such, forward-thinking employers internationally, thereby tapping into financial services sector seek to align are starting to emphasise potential the pool of local professionals based themselves with new regulations and and transferrable skill sets over market overseas. Organisations in the region guidelines set by their central banks. have found high-quality local talent with niche skill sets and international As digital banking, fintech and online Across functions, employers expertise via our ‘Return Home’ payment solutions continue to grow, so are seeking professionals campaigns – Pulang Kampung does the demand for risk, compliance with the ability to apply their (Indonesia), Balik Bayan (Philippines), and legal talent with specialist technical expertise to a Balik Kampung (Singapore) and Come knowledge in technology. broader commercial context. Home Phở Good (Vietnam).

Manufacturing growth drives hiring LOOKING AHEAD activity Global events like the US-China The manufacturing industries in sector experience. For instance, trade war may negatively influence Thailand and Vietnam saw healthy businesses in fast-moving consumer hiring activity in specific industries growth in 2019, driven by a multitude goods (FMCG) are starting to hire and markets, but overall, we expect of factors, including the Eastern technology talent from other industries healthy levels of hiring across the Economic Corridor project in Thailand, such as financial services or retail. region. Digitalisation will continue to the establishment of free trade build momentum and be a major driver agreements in Vietnam and growing The talented, modern jobseeker of hiring trends in the coming year, external confidence in these markets. is looking for fresh challenges and and there will be growing demand for The US-China trade war also played a the opportunity to deliver value to well-rounded, ‘glocal’ professionals, part as manufacturers and electronics a business through their role. To particularly for both mid-level and senior companies moved some production secure and retain top professionals, positions. lines from Mainland China to South hiring managers will need to show East Asia to avoid tariffs.

This has spurred demand for professionals within the industry across key functions, such as human resources, accounting & finance, engineering, supply chain & procurement and logistics.

21  EUROPE

2019 rate was at an all-time low, resulting Despite much publicised economic in increased scarcity of candidates Our presence in Europe: and political uncertainty across Europe, across all disciplines, especially at • Belgium businesses continued to recruit in 2019. the junior and mid levels. In a market • France where candidates were calling the • Germany In France, businesses adopted a “stop- shots, employers were forced to act and-go” approach to hiring. Concerns fast to secure the best candidates. • Ireland about the economy and the yellow vests To overcome candidate shortages • Luxembourg (gilets jaunes) protests meant companies companies hired more expats, from • Netherlands were quick to stop recruitment activity countries both within and outside the • Portugal in times of distress. However, in general EU, such as Turkey and South Africa. • Spain the recruitment market performed well • Switzerland in 2019 as companies had to make up Belgium continued to benefit from strong for talent shortages in all sectors. Real economic growth in 2019, which led to a • United Kingdom estate and construction were particularly busy hiring market. However, businesses busy as geared up for the 2024 were still constrained by widespread Olympic Games and worked on candidate shortages. This resulted in While the UK was defined by a year of delivering the Greater Paris project. companies hiring permanent staff more political and economic instability due to quickly than in previous years whilst Brexit, the hiring market performed better The Dutch economy was in great increasing interim recruitment in the fields than anticipated. There were pockets of shape in 2019. The unemployment of finance and project management. hiring activity within sectors that received

22 Robert Walters Salary Survey 2020 notable VC funding such as technology Recruitment has become less cyclical Whatever the outcome of Brexit in the and fintech. Other areas of positive than it once was as business leaders UK, we will still see plenty of hiring recruitment in 2019 were property, have realised the value of being quick activity amongst emerging industries, professional services and specific areas to adapt to market conditions, whilst disruptors and SMEs. It’s businesses in within banking such as hedge funds. remaining right-sized in order to take these categories that will drive the hiring advantage of future growth. agenda by recruiting agile, tech-proficient In 2019 there was a lot of negative press and commercially savvy professionals in Germany concerning the economic In Belgium, we expect businesses will who have their finger on the pulse of environment, political uncertainty and continue to expand in 2020. As a result, developing markets. Salary increases difficulties within the automotive industry. we will see an increase in demand for will be most lucrative at the mid to senior However, these stories did not lead to support professionals in HR, marketing, level as companies try to attract more a slowdown in hiring. The professional administration and supply chain. Like risk-averse talent who are conscious skills shortage across finance, legal, previous years, support staff with strong about job moves during a time of technology and digital marketing showed language capabilities in Dutch, French uncertainty. no sign of abating and the market and English will be highly desirable. remained busy as traditional Mittelstand In the Netherlands, the scarcity of companies focused on digitalisation The French hiring market is expected candidates is expected to continue and international businesses grew their to remain relatively strong. For the first in 2020 at all levels of seniority and footprints in Germany. time in years the unemployment rate across all disciplines. After two years has fallen, causing further candidate of substantial growth, salaries are Hiring activity in Spain was very high shortages. As a result, companies will expected to stabilise in 2020. However, in the first half of the year as the place greater emphasis on staff retention pay for specialists in compliance, strength of the economy facilitated and succession planning. regulatory reporting, risk management growth. Businesses in the technology, and technology will continue to grow, as automation, renewable energy, In Spain, the technology sector will these specialists are extremely scarce. construction, chemical, pharmaceutical continue to be one of the biggest and tourism sectors were busiest. The drivers of hiring. The focus on digital In Germany, hiring volumes in financial second half of the year saw a reduction transformation is set to increase, services will be dependent on the in hiring activity as commercial conflicts which will lead to businesses recruiting outcome of Brexit. If economic surrounding the USA and China, the specialist technology professionals. conditions worsen, we may see finance UK’s exit from the European Union These professionals will need to have departments hire professionals who and the difficulty of building a stable strong communication skills in order focus on cost efficiencies rather than government in Spain reduced the to work effectively and efficiently with business partnering and growth. Due to appetite for hiring. departments outside of technology. candidate scarcity we will continue to see salary increases across the market. 2020 It’s very hard to predict what the European hiring market will look like in 2020 due to the unknown outcome of Brexit (at the time of writing) and ongoing economic and political uncertainty. However, we are confident that widespread candidate shortages will continue, resulting in demand for skilled professionals.

23  MIDDLE EAST

2019 private sector starting to follow suit in the There will be a renewed focus on Recruitment activity was high across the second half of the year. The rush to hire nationalisation, especially in the UAE and Middle East for the majority of 2019, good-quality Gulf candidates resulted Saudi Arabia. Saudi Arabia has been the following a relatively flat first quarter. in increased candidate movement, most stringent in enforcing nationalisation Businesses in the UAE, Saudi Arabia and especially in Saudi Arabia. Kuwait, often polices. This trend will accelerate Kuwait benefited from improved economic overshadowed by its larger neighbours, throughout the year and we expect other optimism and were the most active hirers. significantly increased hiring activity and GCC countries to follow suit. continued to be a growing market. In the UAE, the growing demand The expected growth in Saudi Arabia for nationals increased. Companies means there are excellent career attempted to comply with ‘Emiratization’ opportunities for Western-educated Saudi legislation but struggled, due to available In 2020, the UAE economy nationals and expats bringing best- talent pools still being dominated by is set to go through a new practice skill sets from multinationals. The foreign expats. As a result, we have seen growth cycle, bringing about nation has immense hiring‑potential and wage inflation for nationals at all levels an increase in business tangible opportunities that continue to and a trend of local candidates moving confidence. grow in number. Social changes, such as roles more frequently. the introduction of cinemas and women being permitted to drive, will continue Multinationals continued to open at a steady pace and further investment their regional headquarters in , 2020 into infrastructure is expected to support bringing further opportunities for skilled In 2020 the UAE economy is set business growth. Kuwait will continue to professionals. Digitalisation was at the to go through a new growth cycle, be an area of focus for many companies forefront as companies looked to optimise bringing about an increase in business and as a result we predict an active hiring performance and stay relevant. This led to confidence. While Expo 2020 is not market. greater demand for marketing and sales the silver bullet to solve everything, it is professionals with digital experience. expected to act as a catalyst to kick- As the wider Middle East economic start 2020. With an optimistic economy environment continues to improve, we The job market in Saudi Arabia continued forecasted, we expect a positive hiring expect to see salaries increasing during to be busy for government roles, with the market. 2020.

24 Robert Walters Salary Survey 2020 AFRICA

SOUTH AFRICA The modernity and agile approach of an increased focus on digitalisation and 2019 SMEs has made them more competitive engineering. As companies sought to 2019 was characterised by cautious in the hiring market than their larger adhere to government nationalisation hiring due to the general elections, a competitors. In order to compete, larger policies while also facing a lack of local sluggish economy and unemployment businesses need to have a clear picture talent, we saw increased salary offers of up to 29%. When businesses did of the professional they are looking to hire made to nationals for roles previously held hire, they sought internationally minded and operate swift recruitment processes. by expats. professionals with high adaptability and Due to continued economic instability, strong business acumen to minimise the salary increases are expected to be in line 2020 downtime during onboarding. with inflation. The competition for skilled nationals will remain high across the continent. The demand for employment equity (EE) REST OF AFRICA In East Africa, international companies professionals continued to influence hiring 2019 can expect inflated salary demands due processes, resulting in salary increases of Across Africa there was an increasing to candidate shortages. Businesses in 10-15% for applicable candidates. Legal drive towards nationalisation and a more developed parts of Africa, such as and finance specialists with high levels demand for diaspora professionals. The the Indian Ocean region, can expect to of technical competence and industry development of employees, succession see multiple counter-offers presented to knowledge also received premium planning and youth development top talent. With increased stability across salaries. were key focus areas for companies. North Africa, salary increases of 3-7% are Experienced finance professionals were likely. 2020 highly sought after as companies looked In 2020, we expect to see high demand to train and develop local staff. Investment in skills development, staff for professionals with both technical ability retention and competitive benefits will be and strategic acumen. Productivity and Recruitment in both East and West key trends in 2020. Employers looking effectiveness of employees will be the Africa was particularly fast-paced due for skilled nationals with international and highest priorities. Historically, specialist to the increased need for mid to senior cross-border experience will struggle to skill sets in candidates were considered level professionals within finance, legal, recruit these roles themselves and will a ‘value-add’, but we expect this to be a sales and operations. Across Central need to rely more on specialist recruiters. minimum requirement moving forward. Africa the need for sales, marketing and finance professionals continued, with

25  US & CANADA

SAN FRANCISCO We have seen a significant increase in In 2019, we saw an unprecedented salaries across the board, in part due Our presence in the US & demand for talent across the Bay area. to the change in law in California which Canada: Strategic, hands-on leaders were the prohibited employers from asking job most highly sought after. applicants for salary history information. • Salaries continued to rise due to the • New York Hiring activity spiked across design highly competitive nature of the market, • San Francisco functions as companies realised the and we expect this to continue in 2020. impact that design-led thinking can have • on business success. Sectors with the LOS ANGELES highest levels of recruitment included AI, In LA, businesses faced a shortage autonomous vehicles, robotics, online of CPA-qualified controllers with audit LA will continue to be at the centre of marketplaces and fintech. backgrounds, especially those with frontier categories such as e-commerce, start-up experience. We expect this to direct to consumer, logistics, In 2020, machine learning and AI will continue in 2020. manufacturing and aerospace as well remain challenging areas to recruit in, as AR/VR and gaming/esports in 2020. with demand for talent far outweighing Demand for operational leaders These categories will be powered by the availability of qualified professionals. remained high in 2019. Many start-ups increases in venture capital, a pipeline of Hiring managers should streamline their sought general managers and diverse engineering talent and a legacy recruitment processes in order to attract operational heads to manage the P&L, of expertise in specialised industries. more candidates and remain competitive launch new markets, evaluate M&A in securing top talent. possibilities, and provide insightful In 2020, employers are advised to run product and marketing feedback. swift and efficient hiring processes. 26 Robert Walters Salary Survey 2020 By engaging all relevant stakeholders at economy continued to grow and their salary adjusted in line with inflation the outset, hiring managers can build unemployment rates reached their (2% forecast for end of 2019). Those a clearer profile of their ideal candidate lowest levels in decades. who did start new roles saw an average and move quickly to make an offer to increase in base salary of 14%. This promising candidates. Large cohorts of baby boomers caused significant movement in the retiring combined with low numbers market. NEW YORK of millennials with STEM (science, 2019 saw high demand for talent in technology, engineering, mathematics) In 2020, top calibre candidates will have areas such as technology, data privacy, skill sets entering the workforce is multiple opportunities to consider when cyber security, AI and machine learning, causing an acute skills shortage in the moving jobs. The Canadian government leading to candidate shortages in Canadian market. will continue turning towards mass these areas. Hiring activity was more immigration for highly skilled workers to measured in traditional areas such ensure all skill gaps are filled. as accounting and finance, financial services operations and support Hiring managers should Salaries for lawyers in private practice functions. However, businesses in the streamline their recruitment will increase $10-20k with each year fintech space and in pockets of the processes in order to post-call, before stabilising at the nine- investment management industry were effectively increase year post-call mark at between $150k still strong hirers. candidate attraction and (in small- to medium-sized law firms) remain competitive in and $220k (for national or Seven Sister In many cases, interview processes securing top talent. firms). Lawyers who move firms will see were drawn out and due to the lack of an average increase of 7% on base swift decision making, clients missed out salary, while compliance professionals on securing top talent. moving firms will receive pay increases Accounting and finance professionals of up to 10%. Demand for professionals in revenue who remained in their current roles either generating roles, such as sales did not receive a salary review or had professionals across all industries and lawyers in private practice, remained high, and we expect this to continue in 2020.

In the financial services sector, highly quantitative candidates will remain in high demand, both in research and trading strategy roles and risk management positions.

VC-backed high-growth tech start-ups were major hirers in 2019. The need for hands-on leadership candidates will still be a high priority for all early stage firms looking to scale. TORONTO Canada witnessed a buoyant recruitment market in 2019 as the 27  LATIN AMERICA

2019 ongoing delays with the vote on Brazil, Chile and Mexico all experienced pension reforms. Our presence in Latin America: a challenging economic environment in 2019, which saw central banks Despite these economic challenges • Brazil cut interest rates to stimulate their the demand for specialist technology • Chile economies. talent remained consistent across all countries. While construction suffered in • Mexico Chile’s economic slowdown was driven Mexico, the energy sector grew in Chile by weakening domestic demand and there was an increased shortage of and a slumping copper price, which cyber security specialists in Brazil. of the oil and gas sectors, as well as drives many aspects of the economy. the construction industry, will also start In Mexico, it was widely agreed that 2020 to have an impact on the economy in signs of economic stagnation were Brazil, Chile and Mexico could all take 2020, but the overall gains will still be due to decisions made by the new very different paths in 2020, leading to modest by international standards. president, most notably the cancellation a very mixed recruitment outlook for the of several high-profile construction region. In Mexico, the government’s focus projects, which shook investor on economic equality policies at the confidence and dampened hopes for After years of economic misery, Brazil expense of economic growth and growth. In Brazil, early optimism that may finally see a long-awaited recovery decisions such as the cancellation the new government would be good spurred on by pension reform, which of government contracts will for business quickly cooled, following will most likely increase the level of likely have a negative impact on a series of distracting scandals and foreign direct investment. The recovery the economy, especially in the

28 Robert Walters Salary Survey 2020 construction and energy industries. online and deal with the extra security There is increasing demand from However, it remains to be seen if the challenges this presents. In many candidates for better work-life balance, government’s budget stabilisation cases ‘digital-first’ businesses are with firms having to offer flexible and fund will be needed and if confidence taking most of the talent due to the innovative working options, which, will return. attractiveness of this business model. in many cases, are just as important as salary increases to professionals Across the Andes, in Chile, where looking for their next career move. In the business community has more addition to this, employers need to be confidence in the government’s Despite economic able to demonstrate equal opportunities ability to manage economic challenges the demand for for women in the workplace with proven challenges, the planned injection of specialist technology talent examples of women progressing their USD $600 million into the country’s careers while having a family. remained consistent across budget (for road construction, subsidised housing, healthcare and all countries. Firms should also consider hiring from water projects) throughout 2020 international talent pools, where they should see the economy weather can attract professionals who will often any challenges better than most in be in the role for longer, which easily the region. As a rule, employers seeking digital compensates for the time and cost of skill sets are looking for multi-skilled arranging work visas. HIRING TRENDS profiles, hoping to add greater value to With independent and diverse their businesses, so there will be more economic challenges across the demand for commercial finance profiles region there are unique hiring as well as digital natives who combine environments in each country; technology and marketing expertise. however, there are also some common trends.

In all markets the recruitment of professionals with a high level of business English will remain a key challenge, especially for finance, commercial and engineering roles. This is driven by two factors. Firstly, in many global firms, expats are being replaced with local employees, but as these roles are the main interface with head office, professionals with a high level of fluency in English are needed. Secondly, many domestic firms are looking to expand internationally, so they are now competing with global companies for the same talent.

In all countries there are shortages of digital experts, data scientists and cyber security specialists, as firms look to migrate their businesses

29  INDUSTRY TRENDS - CANADA

In this section we delve deeper into the hiring and salary trends we expect to see across accounting & finance and legal & compliance in 2020.

Canada

TORONTO

Canada

2019 As Canada’s economy continued to grow throughout 2019, business confidence remained high and the recruitment market was buoyant, with job volumes increasing steadily and unemployment at its lowest rate in almost four decades.

The banking sector continued to see disruption as fintech and e-commerce players transformed the retail landscape and the way people purchase and pay for products.

Residential and commercial property shortages continued across the country, and real estate development firms responded by recruiting heavily, particularly in construction, sales and financing. The high cost of office space in Toronto saw the growth of shared service centres outside the greater Toronto area, with businesses moving administrative and customer service functions out of the expensive downtown area.

Interim consultants were increasingly in demand to help businesses meet the needs of specific projects, helping teams deal with change without impacting day to day operations. In particular, companies going through rapid growth such as cannabis firms, or consolidation such as mining and natural resources businesses turned to interim consultants.

Newly-designated CPAs with ‘Big 4’ audit experience working with clients in high growth industries such as cannabis, tech and real estate were highly sought after for senior financial analyst positions, and saw increases in base salaries, a trend we expect to continue in 2020.

Retaining top talent will remain a priority for hiring 65% managers as competition to secure new talent in a OF PROFESSIONALS WOULD TURN candidate short market DOWN A JOB OFFER DUE TO A continues to increase. POOR INTERVIEW EXPERIENCE

32 Robert Walters Salary Survey 2020 Canada

2020 with external suppliers. These Candidate shortages will continue positions are often attractive to in 2020, as Baby Boomers qualified lawyers who want to continue to retire faster than leave the lifestyle and culture of new entrants into the workforce, private practice while still retaining resulting in employee shortages the contract review aspect of their across highly skilled professions roles and gaining the responsibility including all facets of STEM of managing external counsel. (science, technology, engineering, mathematics), accounting, Internal audit and tax professionals finance, legal and compliance. with 3-5 years of hands on experience outside of public As privacy, anti-money laundering accounting will remain in high and compliance guidelines demand as companies look continue to develop in Canada, to invest in their in-house the need for robust compliance controls and tax functions. functions will increase. Regulatory compliance officers with up to Retaining top talent will remain date knowledge and established a priority for hiring managers relationships with regulatory bodies as competition to secure new MARTIN FOX (including the OSC, IIROC and talent in a candidate short market MANAGING DIRECTOR OSFI) will be in high demand. continues to increase. Having CANADA a clear timeframe to interview Corporate compliance hiring will and hire is crucial to ensure continue to increase as companies you keep candidates engaged seek to maintain detailed and interested in a role. knowledge of their agreements 8585% 8549% of employers say increasing of employers say the interim hiring diversity in their workforce process usually takes them is a priority three weeks or less

*All statistics are drawn from Robert Walters industry research

Canada 33 ACCOUNTING & FINANCE ACCOUNTING & FINANCE KEY FINDINGS toronto

GENDER DIVERSITY IN ACCOUNTING & FINANCE 1.8 YEARS The average tenure for accounting & finance Male Female professionals is 1.8 years 5353%4747%

TOP JOBS IN DEMAND TOP SKILLS IN DEMAND

Director Manager Senior Financial Commercial Persuasion and Stakeholder of Finance of FP&A Analyst aptitude influencing management

TOP 4 MOTIVATORS TO MOVE JOBS

Good compensation %66 14% and benefits Good work-life balance On average, %61 accounting & finance professionals Flexible working %43 negotiate a salary

increase of 14% Open and effective when moving jobs management %41 ACCOUNTING & FINANCE ACCOUNTING & FINANCE KEY FINDINGS toronto

COMMERCE AND INDUSTRY

PERMANENT BASIC SALARY PER ANNUM ROLE CAD ($) 2019 2020

Financial Control/Reporting/FP&A

Chief Financial Officer/EVP (12+ yrs’ PDE) 150 - 350k 150 - 350k

Finance Director/SVP (10+ yrs’ PDE) 150 - 200k 150 - 200k

Corporate Controller/VP (5 - 12 yrs’ PDE) 110 - 160k 110 - 160k

Senior Manager/AVP (4 - 8 yrs’ PDE) 110 - 140k 110 - 140k

Manager (2 - 5 yrs’ PDE) 90 - 110k 90 - 110k

Senior Financial Analyst (0 - 3 yrs’ PDE) 75 - 90k 75 - 90k

Internal Audit

VP/SVP (12+ yrs’ PDE) 150 - 240k 150 - 240k

Director (5 - 10 yrs’ PDE) 140 - 180k 140 - 180k

Senior Manager (4 - 6 yrs’ PDE) 120 - 160k 120 - 140k

Manager (2 - 5 yrs’ PDE) 90 - 120k 100 - 120k

Internal Auditor (0 - 3 yrs’ PDE) 75 - 90k 75 - 90k

Tax

Director/VP (8+ yrs’ PDE) 170 - 240k 160 - 240k

Senior Manager (4 - 10 yrs’ PDE) 120 - 160k 120 - 160k

Manager (2 - 6 yrs’ PDE) 90 - 120k 90 - 120k

Senior Analyst (0 - 3 yrs’ PDE) 80 - 95k 80 - 95k

NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified PDE = post-designation experience

Canada 35 ACCOUNTING & FINANCE L egal & Compliance toronto KEY FINDINGS

FINANCIAL SERVICES

PERMANENT BASIC SALARY PER ANNUM ROLE CAD ($) 2019 2020

Financial Control/Reporting/FP&A

Chief Financial Officer/EVP (12+ yrs’ PDE) 180 - 350k 180 - 350k

Finance Director/SVP (10+ yrs’ PDE) 150 - 220k 150 - 220k

Corporate Controller/VP (5 - 12 yrs’ PDE) 120 - 180k 140 - 180k

Senior Manager/AVP (4 - 8 yrs’ PDE) 110 - 140k 120 - 160k

Manager (2 - 5 yrs’ PDE) 90 - 120k 90 - 120k

Senior Financial Analyst (0 - 3 yrs’ PDE) 75 - 90k 80 - 90k

Investment Operations

Fund Controller/Director (10 - 15 yrs’ PDE) 130 - 160k 130 - 160k

Fund Accounting Manager (5 - 10 yrs’ PDE) 90 - 120k 90 - 135k

Fund Accountant (3 - 5 yrs’ PDE) 70 - 90k 70 - 90k

Internal Audit

Head of Audit/Director (10+ yrs’ PDE) 160 - 220k 160 - 220k

Manager/Senior Manager (5 - 10 yrs’ PDE) 100 - 140k 100 - 140k

Internal Auditor (0 - 5 yrs’ PDE) 80 - 100k 80 - 100k

Tax

Director/VP (8+ yrs’ PDE) 170 - 260k 160 - 250k

Manager/Senior Manager (2 - 8 yrs’ PDE) 110 - 160k 100 - 160k

Senior Analyst (0 - 2 yrs’ PDE) 85 - 112k 80 - 100k

NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified PDE = post-designation experience

36 Robert Walters Salary Survey 2020 ACCOUNTING & FINANCE L egal & Compliance toronto KEY FINDINGS

GENDER DIVERSITY IN COMPLIANCE 2.7 YEARS The average tenure for Toronto legal Male Female professionals is 2.7 years 4646%5454%

TOP SKILLS IN DEMAND FOR COMPLIANCE PROFESSIONALS GENDER DIVERSITY IN LEGAL

Male Female 4664%5436% Investigation Communication Analysis

TOP 4 MOTIVATORS TO MOVE JOBS

Good compensation and benefits %61

7% Good work-life balance %54 On average, legal professionals Challenging work %42 negotiate a salary increase of 7% when moving jobs Company culture %42 Canada 37 L egal & Compliance toronto

PERMANENT BASIC SALARY PER ANNUM ROLE CAD ($) 2019 2020

Legal – In-house

General Counsel (10+ yrs’ post-call) 195 - 285k 195 - 285k

Senior Legal Counsel (5 - 10 yrs’ post-call) 125 - 190k 125 - 190k

Legal Counsel (2 - 7 yrs’ post-call) 100 - 135k 100 - 135k

Legal – Private Practice

Partner (10+ yrs’ post-call) 250k+ 250k+

Senior Associate (5 - 10 yrs’ post-call) 150 - 185k 150 - 205k

Junior Associate (2 - 4 yrs’ post-call) 95 - 165k 95 - 165k

Associate (1 yr post-call) 90 - 115k 90 - 115k

Compliance

Chief Compliance Officer 155 - 270k 165 - 270k

Compliance Manager (7 - 10 yrs’ exp) 115 - 155k 115 - 155k

Compliance Officer (3 - 6 yrs’ exp) 74 - 115k 76 - 115k

NB: Figures are basic salaries exclusive of benefits/bonuses unless otherwise specified.

38 Robert Walters Salary Survey 2020 CONTACT US CANADA REST OF WORLD

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JOHANNESBURG 19th Floor ROBERT WALTERS & Rue de la Cité 1 Q House Lumpini, 12th Floor GreenPark Corner WALTERS PEOPLE 1204 Geneva Unit 1201 Cnr West Road South and Passeig de Gràcia nº 55-57 Switzerland 1 South Sathorn Road Lower Road 3ª planta t: +41 (0) 22 561 84 77 Thungmahamek, Sathorn Morningside, Sandton 08007 Barcelona Bangkok 10120 Spain Thailand 2196 t: +34 93 216 30 00 Claridenstrasse 41 t: +66 (0) 2 344 4800 South Africa 8002 Zurich t: +27 (0) 11 881 2400 Switzerland EASTERN SEABOARD ROBERT WALTERS & t: +41 (0) 44 809 35 00 Level 12, Room No.1259- SOUTH KOREA WALTERS PEOPLE 1260 Paseo de Recoletos nº 7-9 TAIWAN Harbor Mall Office SEOUL 5ª - 6ª planta 4/222 Moo 10, Sukhumvit 21F, East Center, Center 1 28004 Madrid TAIPEI Road, Building Spain Room F, 10th Floor Thungsukhla, Sriracha, 26 Eulji-ro 5-gil t: +34 91 309 79 88 No. 1 Songzhi Road Chonburi 20230 Jung-gu Xin-yi District Thailand Seoul 04539 VALENCIA Taipei t: +66 (0) 33 030 780 South Korea Avenida de Aragón nº 30 Taiwan t: +82 (0) 2 6454 7000 8ª planta t: +886 2 8758 0700 UAE 46021 Valencia Spain DUBAI t: +34 96 046 86 46 Unit C 1008 10th floor Burj Daman DIFC P.O. Box 506851 Dubai UAE t: +971 4 8180 100 CONTACT US REST OF WORLD

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ROBERT WALTERS IS A GLOBAL, SPECIALIST OUR CORE RECRUITMENT OUR SERVICES PROFESSIONAL RECRUITMENT DISCIPLINES GROUP. SPECIALIST PROFESSIONAL Over the last 34 years the business • Banking & Finance RECRUITMENT has grown and so has our ambition. • Business Support Permanent, contract and interim We now operate across 31 countries • Commerce recruitment across the core disciplines and employ over 4,200 people. It’s a • Engineering & Construction of: banking & finance; business powerful success story built on the • Human Resources support; commerce; engineering & strength of our people. Organisations • Legal construction; human resources; legal; rely on us to find high-quality • Procurement & Supply Chain procurement & supply chain; sales & professionals for a range of specialist • Sales & Marketing marketing; and technology. roles. Professionals who are looking • Technology for a new role, whether it’s on a • Recruitment Process RECRUITMENT PROCESS permanent, interim or contract basis, Outsourcing OUTSOURCING trust us to find them their ideal job. Resource Solutions is a market leader in recruitment process outsourcing (RPO) and managed services. Resource MISSION & VALUES Solutions designs and deploys tailored We want to be the world’s leading recruitment outsourcing solutions for specialist recruitment group, the first clients across the globe. name the world’s businesses choose whenever they need to hire the best. FOLLOW US ON LINKEDIN But it’s not just about being the biggest, linkedin.com/company/robert-walters it’s about having a clear differentiation based on the quality of service delivered to our clients and our candidates. Our focus on quality in all we do, acting with integrity, and focusing on team-work are values that run through the heart of the business. From the first office to the 31st country, our team-based profit- share model ensures the needs of our clients and candidates come first.

Robert Walters Group operations worldwide are fully carbon balanced through the World Land Trust Carbon Balanced Programme and The Woodland Trust. AUSTRALIA BELGIUM BRAZIL CANADA CHILE CHINA CZECH REPUBLIC FRANCE GERMANY HONG KONG INDIA INDONESIA IRELAND JAPAN LUXEMBOURG MALAYSIA MEXICO NETHERLANDS NEW ZEALAND PHILIPPINES PORTUGAL SINGAPORE SOUTH AFRICA SOUTH KOREA SPAIN SWITZERLAND TAIWAN THAILAND UAE UK USA VIETNAM www.robert-walters.ca