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2018 Banking and Financial Services Salary Guide

Alan Li - 15/01/2018
2018 Banking & Financial Services Salary Guide

Expected salary ranges for banking and financial services professionals in Shanghai.

Contents:

Asset Management In Financial Services Salaries | Corporate Banking Front Office In Financial Services Salaries | Corporate Banking Risk Management In Financial Services Salaries | Corporate Banking Operations In Financial Services Salaries | Accounting & Finance In Financial Services Salaries | Banking IT In Financial Services Salaries | Insurance In Financial Services Salaries | Private Equity In Financial Services Salaries

Commentary on Banking & Financial Services Roles and Remuneration in Shanghai for 2018

Asset Management In Financial Services | Basic Salary Per Month
Role Associate / Non - Officer Associate / AVP / Manager VP / Senior Manager SVP / Director Director / Senior Director
Equity Analyst ¥15k - ¥25k ¥25k - ¥40k ¥40k - ¥60k ¥60k - ¥90k ¥90k+
Product Strategist ¥15k - ¥30k ¥30k - ¥50k ¥40k - ¥60k ¥60k - ¥90k ¥90k+
Institutional Sales ¥15k - ¥30k ¥30k - ¥50k ¥40k - ¥60k ¥60k - ¥110k ¥110k+
Distribution Sales ¥15k - ¥30k ¥30k - ¥50k ¥40k - ¥60k ¥60k - ¥110k ¥110k+
Portfolio Manager - ¥25k - ¥50k ¥50k - ¥80k ¥70k - ¥120k ¥120k+
Compliance ¥18k - ¥30k ¥30k - ¥50k ¥50k - ¥70k ¥70k - ¥100k ¥100k+
Operations ¥15k - ¥25k ¥25k - ¥40k ¥40k - ¥60k ¥60k - ¥90k -
Finance ¥15k - ¥25k ¥25k - ¥40k ¥40k - ¥60k ¥60k - ¥90k -
Corporate Banking Front Office In Financial Services | Basic Salary Per Month
Role Associate / Non - Officer Associate / AVP / Manager VP / Senior Manager SVP / Director Managing Director
Corporate Relationship Manager ¥10k - ¥20k ¥20k - ¥40k ¥40k - ¥60k ¥60k - ¥90k ¥90k+
FIG Relationship Manager ¥10k - ¥20k ¥20k - ¥40k ¥40k - ¥60k ¥60k - ¥90k ¥90k+
Transaction Service (Sales) ¥8k - ¥20k ¥15k - ¥30k ¥30k - ¥60k ¥60k - ¥80k ¥80k+
Structured Solutions (Sales) ¥10k - ¥20k ¥20k - ¥40k ¥40k - ¥60k ¥60k - ¥90k ¥90k+
Corporate Banking Risk Management In Financial Services | Basic Salary Per Month
Role Associate / AVP / Manager VP / Senior Manager SVP / Director Director / Senior Director  
Market Risk ¥25k - ¥40k ¥40k - ¥80k ¥80k - ¥110k ¥110k+  
Credit Risk ¥25k - ¥40k ¥40k - ¥65k ¥65k - ¥90k ¥90k - ¥120k  
Operational Risk ¥20k - ¥35k ¥35k - ¥55k ¥60k - ¥80k ¥85k - ¥120k  
Compliance ¥25k - ¥45k ¥45k - ¥65k ¥65k - ¥90k ¥90k - ¥120k  
Legal ¥25k - ¥45k ¥45k - ¥60k ¥60k - ¥85k ¥85k - ¥120k  
Corporate Banking Operations In Financial Services | Basic Salary Per Month
Role Associate / Non - Officer Associate / AVP / Manager VP / Senior Manager SVP / Director Director / Senior Director
Trade Operations ¥8k - ¥15k ¥15k - ¥35k ¥35k - ¥45k ¥45k - ¥60k -
Loan Operations ¥8k - ¥15k ¥15k - ¥35k ¥35k - ¥45k ¥45k - ¥60k -
Treasury Operations ¥10k - ¥20k ¥20k - ¥35k ¥35k - ¥45k ¥45k - ¥60k ¥60k - ¥100k
Cash Operations ¥8k - ¥15k ¥15k - ¥35k ¥35k - ¥45k ¥45k - ¥60k ¥60k - ¥100k
Accounting & Finance In Financial Services | Basic Salary Per Month
Role Associate / NON - OFFICER Associate / AVP / Manager VP / Senior Manager SVP / Director Director / Senior Director
Internal Audit ¥15k - ¥20k ¥20k - ¥40k ¥40k - ¥65k ¥65k - ¥90k ¥100k+
Financial Control / Reporting ¥15k - ¥20k ¥20k - ¥40k ¥40k - ¥60k ¥60k - ¥80k ¥85k+
Business Finance ¥20k - ¥25k ¥25k - ¥40k ¥40k - ¥65k ¥65k - ¥90k ¥100k+
Tax ¥20k - ¥25k ¥25k - ¥40k ¥40k - ¥60k ¥60k - ¥80k ¥85k+
Banking IT In Financial Services | Basic Salary Per Month
Role Analyst Associate VP Director  
Infrastructure ¥10k - ¥15k ¥15k - ¥30k ¥35k - ¥45k ¥45k - ¥60k  
Application Service ¥10k - ¥20k ¥20k - ¥35k ¥35k - ¥45k ¥45k - ¥60k  
Insurance In Financial Services | Basic Salary Per Month
Role Manager Senior Manager Director    
BD / Account Management ¥20k - ¥30k ¥30k - ¥50k ¥50k - ¥70k    
Underwriting ¥20k - ¥40k ¥40k - ¥60k ¥60k - ¥780k    
Actuary ¥15k - ¥25k ¥25k - ¥50k ¥50k - ¥80k    
Claims ¥15k - ¥20k ¥20k - ¥35k ¥35k - ¥65k    
Compliance ¥20k - ¥30k ¥30k - ¥60k ¥60k - ¥80k    
Private Equity In Financial Services | Basic Salary Per Month
Role Analyst Associate VP Director Managing Director
Research Analyst ¥15k - ¥25k ¥25k - ¥35k - - -
Private Equity - Investment Team - ¥25k - ¥40k ¥40k - ¥65k ¥65k - ¥90k ¥90k - ¥120k
Investment Banking (Front Office) ¥15k - ¥25k ¥25k - ¥35k ¥35k - ¥55k ¥55k - ¥80k ¥80k - ¥120k
Mergers & Acquisitions ¥15k - ¥25k ¥25k - ¥35k ¥35k - ¥55k ¥55k - ¥80k ¥80k - ¥120k

Commentary on Banking & Financial Services Roles and Remuneration in Shanghai for 2018

Albeit GDP forecasted to be slightly lower than 6.8% in 2016, year 2017 still seems to be a much better and warmer shape compared to the tremendous slow down of year 2016. Economy has not yet returned to its best shape and organizations in many industries are still struggling. However, much have changed within 2017 which are main catalysts boosting businesses within the Financial Services sector.
 
With the policies encouraging China market and Chinese companies to go internalization, along with the Belt & Road calling; the onshore market has drastically determined to focus on catering to these large State Owned Enterprises and large Personal Owned Enterprises especially in the Energy, Oil, Resources and Infrastructure sectors.

Chinese organizations are going international while Foreign Banks are going more localization.
 
2017 is the first decade after the Foreign Banks to be locally incorporated in China; since then the business have definitely gone through the peak and the bottom. For many of the foreign Banks, corporate banking businesses have switched from the traditional Cash and Transaction banking to more of Project Finance, Structure Finance, Commodity Trade Finance, and Syndication loans, etc. Many to focus on Chinese organizations’ investments abroad from bond issuance, M&A to IPO. Hybrid Bankers with sound product knowledge as well as strong connections to these relevant Chinese corporations are already and will continue to be high in demand.
 
2017 is also the year of Regulation & Compliance; ethics, conducts, risk controlling and the market stability are among the main topics of this year. Additional forces and headcounts in Compliance and Operational Risk functions are being highly recommended to the banks by CBRC therefore the demand in talent will continue to increase in all financial institution sectors.
 
The inclusion of A-Share in the MSCI Emerging Markets index, allowing international investors to gain access to the China A-Share, this has also boosted much confidence in the market in many aspects. Rating agencies are increasing their speed in beefing up their business in China to better cater to the local business’ demands, giving the international investors more clarity and visibilities. We have seen more corporate banking Relationship managers and Credit Analytic talents switching into the Rating sectors.
 
Last but not least, the door opening of onshore financial sector to the International Asset Manager earlier in the year have encouraged International Fund Managers globally to set up WFOE onshore and obtaining Private Fund Management License. Currently 8 have been approved between January and November 2017; 19 other investment management WFOEs are still waiting for the PFM license approval. The surge of these top players entering the market will very sharply bump up the demand of talents from Legal Compliance, Institutional & Retail Sales, Product Specialist, Portfolio Manager, Equity Research, Credit Analyst, Fund operation, etc.  The market is very excited and anxious to see what are to be expected for these international firms to contribute to the stabilization of the financial market.

The 19th People’s Summit has also firmly announced the direction of market stabilization the market; restrictions on much of the current conducts in the onshore market among majority of the investment sector; we see this as a very positive news to interpret for the foreign investment firms as they bring in fresh ideas and conducts to the China market.
2017 is the year of change and progression, we are very eager to see the market transcending into a more diversified pool for talents and also the investors.

Associate Director | Banking & Financial Services, Industrial & Automotive Recruitment
+86 21 2287 3158
ali@morganmckinley.com