Pay will be Above Pre-COVID levels; Financial Industry is Ahead in Benefiting from Recovery
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HONG KONG, December 20, 2021 – Pay increase and bonus levels in 2022 will be higher than pre-pandemic level due to rebounding business performance amid continuous economic recovery, according to management consulting firm, Pretium Partners Asia Limited ("Pretium").
Pretium Year-end Rewards and Human Resource Trends Survey - 2021 (“Survey”) examined changes in business performance, salary review budget, bonus levels, headcount changes as well as changes in human resources priorities to facilitate human resources planning. It covers 70 international, regional, and local investment banks, commercial banks, asset management, and private equities firms with multiple offices in Asia. Key insights from the survey are as follows: Projected Salary Increase and Bonus Payout in 2022 Salary increase in 2022 is expected to be higher than 2021 for Hong Kong and Mainland China. 
The projected bonus payout in 2022 will be higher than last year, especially for investment banking and direct investment divisions. “Bonus will be significantly up due to continued IPO momentum, the immense workload will push up bonus,” said May Poon, Managing Partner at Pretium. This is in contrast with lower bonus levels in fixed income and retail banking divisions due to fading fiscal stimulus and the uncertain debt crisis.
Increasing Staff Turnover Rate Staff turnover has increased comparing to 2020 and the median of turnover rate is 16% when the impact of the pandemic has become stabilized. “With the increasing workload, headcount increase and the war of talent against the technology companies, staff turnover is expected to increase,” Ms. Poon explained. 
About Pretium Year-end Rewards and Human Resource Trends Survey - 2021
Pretium Year-end Rewards and Human Resource Trends Survey Report - 2021 examines performance, reward and human resources trends in Asia, including salary increase, bonus levels, business performance, bonus levels, headcount changes, staff mix ratios and changes in HR priorities. It covers 70 international, regional and local investment banks, asset management and private equities firms as well as insurance companies with multiple offices in Asia. About Pretium Partners Asia Limited Pretium Partners Asia Limited ("Pretium") is an independent management consulting firm that helps accelerate clients' growth and increase profitability through unique spectrum of solutions which include rewards, performance management, benchmarking, organization transformation and integration for mergers & acquisitions. Pretium Partners has been selected as the Best Compensation & Benefits Consultant (Bronze Award) in 2021. |
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