Hong Kong 4As chairman Jeffrey Yu believes that salary increases in
China will not likely be as high as initially feared.
Figures provided by TMP Worldwide eResourcing and Watson Wyatt indicated
that locals and senior expatriates were likely to get a double-digit pay
increase this year (See MEDIA, Feb 2).
However, Mr Yu said that agencies should be cautious about their
prospects because of a host of economic uncertainties.
"Has the Asian economy fully recovered? Where's the US economy going? At
this moment, it is difficult to answer those questions so we have to
take a cautious stance," he said.
He added the recommendations of the 4As was that any salary increase for
expats in China be capped at five per cent and 10 per cent for locals,
with an across-the-board five per cent limit in Hong Kong.
However, he conceded that many expats were on incentive schemes in which
"the more successful you are, the more bonus you get".
