Expected compliance salaries for professionals in Hong Kong in 2018 ranging from analyst to managing director.
(HKD per month)
|Role||Analyst||Associate / AVP||VP / SVP||Executive Director||Managing Director|
|Head of Compliance||*||*||*||125k - 183k||183k+|
|Regulatory Compliance||25k - 40k||40k - 75k||75k - 125k||130k - 165k||165k+|
|AML||25k - 42k||42k - 75k||75k - 135k||140k - 180k||180k+|
|Product Specific Advisory||25k - 42k||42k - 80k||75k - 140k||140k - 180k||180k+|
|General Compliance||15k - 35k||40k - 70k||70k - 100k||110k - 140k||140k+|
|IBD / Research||20k - 35k||40k - 75k||75k - 110k||120k - 160k||160k+|
|Control Room||15k - 35k||40k - 70k||70k - 110k||110k - 160k||160k+|
|Monitoring / Surveillance||15k - 35k||35k - 70k||70k - 105k||105k - 120k||120k+|
|Private Banking Compliance||15k - 35k||35k - 75k||75k - 120k||120k - 170k||170k+|
|Buy - Side Compliance||15k - 35k||35k - 75k||75k - 120k||120k - 150k||150k+|
|Tax Compliance||25k - 35k||40k - 70k||70k - 110k||110k - 125k||125k+|
|Banking Lawyer||50k - 80k||80k - 110k||110k - 140k||140k - 185k||185k+|
* Roles do not typically exist at these levels
Commentary on Compliance Roles and Remuneration in Hong Kong for 2018
Hiring in compliance and AML (anti-money laundering) and FCC has been very busy during the last four to five years, stimulated by the 2012 regulatory changes. But this year there has been a slight downturn in activity as the trend for outsourcing functions to India, the Philippines and Malaysia continues.
We are seeing the restructuring of many compliance departments, especially in AML where we have seen some responsibilities being consolidated (such as within anti-bribery & sanctions, transaction monitoring, name screening and investigations) and some of the more “operational” compliance roles being outsourced to Manila, Kuala Lumpur or India.
The effect of this downsizing is that there are more candidates and fewer roles. High quality, experienced advisory compliance managers who can partner with the business are still in demand, but where previously compliance managers enjoyed 25-35% salary increments for lateral moves, the average for 2017 was 20%. We expect bonuses for 2017 to be similar to 2016, ranging from 1.5-2 months for VP, Director level and above and 1-2 months for analyst to associate level.