If you're spending Chinese New Year sprucing up your CV, trawling the classifieds and looking up old colleagues, you're not alone. After a few years of being grateful to have a job at all - or even taking a pay cut - many in the business are now looking for greener pastures.
The job market is this year bouncing back, head counts are going up again, and there are mind-boggling offers being made for the highest- calibre candidates.
That said, the job market is a far more competitive place than just a few years ago, and senior industry figures warn that job-hopping too early could cost you in the long run, even if it fattens up your wallet in the short term.
For employers there's a warning too: if you want to keep the talent you've got, you've got to make sure they want to stay. And that's not just about the money, either.
Richard Broadhurst, manager of the media and marketing division at recruitment network Ambition, says the current climate is one of optimism and opportunity, with agencies and inhouse marketing and communications departments planning expansion in line with anticipated economic growth.
"We've witnessed growth in month-on-month demand for marketing, PR and communications professionals," he says, with positions from the most senior, regional head level to much more junior roles popping up regularly.
The most active sectors in Hong Kong and Singapore in recent months have been IT, FMCG, retail, telecommunications and financial services, particularly insurance.
Salary data compiled by Hudson, another recruitment agency, shows that annual packages for marketing directors and brand directors for consumer brands range from HK$600,000 to $1million (US$76,941 to $128,232) in Hong Kong.
In Singapore, a similar post is paying between S$180,000 and $300,000 (US$109,893 to $183,093); in Shanghai, Rmb 1.2 to Rmb 1.5 million (US$144,988 to $181,236); and in Japan, between Y12 million and Y20 million (US$116,789 to $194,639).
In the retail sector, a marketing director for a medium to large chain can command slightly more than that in Hong Kong (HK$800,000 to $1 million), Hudson's data shows. In Singapore the role pays roughly S$150,000 to $180,000, about Rmb 1.2 million in Shanghai, and Y12 million to Y18 million in Japan.
In advertising agencies, the top creatives are still commanding the highest salaries, just behind regional CEOs or regional directors. A regional ECD can expect to earn upwards of HK$1.5 million a year or S$350,000 at the moment.
Creative directors with about a decade of experience and without regional responsibility can command Rmb 800,000 in Shanghai, about the same as the HK$600,000 to$1 million on offer in Hong Kong and S$240,000 to $300,000 in Singapore, says Hudson.
Where are the opportunities then? Recruitment heads were unanimous in pointing at planning.
"We're in desperate need of strategic planners - above-the-line, below- the-line, direct marketing, relationship marketing," says James Koh, Aquent's area manager for Singapore.
Echoing the observation, Jason Ayers, CEO of AdMark, adds: "The biggest thing we need are planners. There's always a shortage of planners in Asia because it's still a relatively new field."
Ditto says Ambition's Broadhurst: "Positions in market planning, market research and business analysis are experiencing considerable levels of demand."
Ambition figures show strategic planners in Hong Kong ad agencies can earn more than HK$1 million in the most senior, director level posts, and roughly half that with about eight years of experience behind them.
Whether it's from lack of demand or the lower cost of living, planners in China have a considerably smaller package on offer - Rmb 120,000 and $360,000. On the marketing side, a strategic planning director with a dozen years' experience can command more, with Ambition charting a salary range of HK$1 million to $1.3 million.
In public relations, meanwhile, in-house executives are, broadly speaking, commanding bigger bucks than their agency counterparts with the same level of experience. A corporate communications/PR director with 10 years' experience can get HK$800,000-plus (Y12 million to Y15 million in Japan, S$100,000 to $150,000 in Singapore and Rmb 360,000 to Rmb 700,000 in China), according to Hudson. An agency account director with 10 years' experience, meanwhile, is on HK$500,000-plus, S$110,000 to $160,000 in Singapore- the exception to the rule - Rmb 300,000 to Rmb 480,000 on the mainland, and Y8 million to Y10 million in Japan.
The most senior PR professionals, however, are paid roughly the same whether they're in-house or on the agency side, Hudson's data shows.
If you're looking for a change, whether in PR, marketing or advertising, then more vacancies are good news, along with the fact that in many cases, there are slim pickings of people with the right combination of experience, personality and language skills. But that's not to say that employers are prepared to take second-best. "Although it's moving, clients are still picky, and they're more prudent in terms of reference- checking and taking a longer time to make decisions," says Koh. "It's not about whether you're local, Singaporean or whatever. It's just whether you're good, and prima donnas aren't going anywhere."
Candidates with specialist knowledge of a particular industry are highly prized, along with adaptable people from less traditional professional backgrounds who can bring something extra to a role.
Matthew Anderson, Ogilvy Public Relations Worldwide's chief executive for Asia-Pacific and EAME, says Asia and, naturally, China, are attracting a new class of Western expat, competing for posts with increasingly qualified and talented Asian expatriates and local staff.
"The bar is much higher in terms of the quality of people moving to Asia, and companies have put a huge effort into developing local talent," he says. "Asia's no longer a risk - it's almost essential if you want to reach the top of an organisation. The hardship postings of the future are going to be slow-growth, small countries, like parts of Europe.
"In China, we're getting Harvard-educated people fluent in Mandarin in their 20s and 30s asking to come and work in investor relations. It's not the old-fashioned kind of expat."
Many professionals from within the region are also looking to China.
Indeed, the severe shortage of communications and advertising expertise on the mainland has resulted in packages traditionally reserved for the most senior execs being offered to middle-ranking new recruits. That means inflated salaries or bonuses, tax 'equalisation' to compensate for the high rate of tax there, and housing allowances.
Headhunters say applicants' Mandarin skills are not always up to scratch, though, and the lifestyle is not everyone's cup of tea. "Even with the generous packages mainland-based companies are now offering, China still doesn't represent a golden opportunity to everybody," says Broadhurst.
Still, the appeal of the north - as well as the rising number of vacancies in other markets - gives employers in traditional talent hubs like Hong Kong and Singapore extra cause for concern, however.
"My job consists of worrying about our people and worrying about our clients - hopefully in that order," says Ian Thubron, executive vice- president of TBWA\Asia Pacific. "If I can make sure that we get the best people, and keep them, I know we will have the most successful agency in Asia-Pacific. It really is as simple - and as difficult - as that."
Employers who want to retain their best people are having to do better than offer annual salary reviews. Double-digit pay rises are not unusual for highly-valued staff, along with career-mapping schemes designed to engender loyalty and satisfaction.
"In addition to being paid well, what the top talent really wants is the ability to make a difference," says Anderson. Ogilvy runs several programmes to make sure that staff are given the best opportunities to further their career, and that the company at the same time gets the best possible work from them. "It's a lot different than just saying 'when's my salary review?'," he says.
In Japan, meanwhile, job-hopping isn't the problem. "The international (advertising) agencies will pay double salaries for top Japanese talent, but they never want to move," says AdMark's Ayers.
"Our problem is getting people to move and act fast enough."
The big Japanese agencies are so prestigious - and have the big-name Japanese clients - that home-grown stars can't be tempted away. "It's usually about the challenge, and money is secondary," Ayers says.
As for luring in expat talent, the challenge is immense. Gaijin find it difficult to operate in this market as even those who are fluent in Japanese come up against resistance from colleagues and employers who believe that a non-Japanese can't truly understand the culture.
However, those going in with the right attitude and expectations can expect to be well rewarded.
"There's always room for smart foreigners because if you understand the rules but aren't bound by them, you can do things that the Japanese can't," Ayers says.
For less developed and in many cases less attractive markets - take for instance the Philippines or Indonesia - attracting high-calibre people means offering senior posts to people who in other countries would be considered slightly too young for the job, or giving them housing or club membership-style perks that wouldn't be part of a package elsewhere.
But sometimes even the most attractive-sounding perks can be a potential poison chalice; industry chiefs frown on the candidate with less than two years in a post.
"People simply move around too much. They don't seem to realise that if you spend longer at a company, you are more valuable, more highly rewarded (longer term) and more likely to be retained during the hard times," says Thubron.
"They seem to think that hopping around will see them leap up the seniority chain. It may - in the very short term. But ultimately, if I see a resume with a different job every 18 months and no promotions within one company, I worry."
Ogilvy's Anderson insists job hopping could ultimately cost a candidate money; he says successful executives makes 80 per cent of their net worth after the age of 40. That means that the first 20 years of a career are better spent positioning for that time rather than moving around for small gains.
"One of the greatest shames is people who jump around for a few thousand dollars here or there or turn down a job because there isn't X per cent housing subsidy," he says.
"The question is are you taking on a succession of interesting, challenging assignments that build your career."
There's a similar warning for employers too: ignore the current buoyancy in the job market at your peril. Even the most dedicated staff can be bought if the price is right. And talented Asian professionals, especially those with China experience, are being increasingly sought after outside the region as well as within it.
"If companies aren't valuing their staff they will lose them," says Aquent's Koh. "If you don't take care of people and deliver what you promised when times were bad, they'll be gone."
SHOWING MARKETERS THE MONEY: RETAIL AND CONSUMER BRANDS
Hong Kong* Singapore* Shanghai* Japan*
Retail HKdollars Sdollars Rmb Y
Managing Director 1.2M + 300K - 400K 2M - 3M 18M - 30M
General Manager
Medium to large
sized chain 1.4M - 1.5M 240K - 300K 1.5M 15M - 18M
Small to medium
sized chain 600K - 1.2M 150K - 220K 1M 12M - 16M
Marketing Director
Medium to large
sized chain 800K - 1M 150K - 220K 1.2M 12M - 18M
Small to medium
size chain 600K - 900K 140K - 180K 1M 8M - 14M
Marketing Manager
Medium to large
sized chain 500K - 700K 130K - 160K 800K 8M - 12M
Small to medium
sized chain 400K - 600K 80K - 120K 600K 7M - 10M
Retail Operation
Director
Medium to large
sized chain 700K - 1.1M 160K - 240K 800K 10M - 14M
Small to medium
sized chain 700K - 900K 140K - 180K 600K 8M - 12M
Retail Operations
Manager/Area Manager
Medium to large
sized chain 400K - 600K 120K - 140K 120K 7M - 11M
Small to medium
sized chain 350K - 500K 80K - 120K 100K 6M - 8M
Merchandising Director
Medium to large
sized chain 800K - 1.3M 180K - 240K 1M 10M - 16M
Small to medium
sized chain 700K - 900K 160K - 180K 800K 8M - 12M
Merchandising Manager
Medium to large
sized chain 500K - 700K 120K - 160K 390K 8M - 10M
Small to medium
sized chain 400K - 600K 80K - 120K 300K 6M - 8M
Consumer
Sales & Marketing
Director 850K - 1.2 M 120K - 200K 1.5M 10M - 18M
Sales & Marketing
Manager 500K - 700K 80K - 100K 400K - 600K 8M - 12M
Key Account Manager 300K - 600K 60K - 100K 200K - 450K 8M - 10M
Sales Director 700K - 1.2M 150K - 250K 1.2M 10M - 16M
Sales Manager 400K - 700K 80K - 120K 300K - 600K 8M - 12M
Source: Hudson * Annual package.
TALENT FEES: FROM REGIONAL HEADS TO PUBLIC RELATIONS ROLES
Advertising/ Years of Hong Kong* Singapore* Shanghai* Japan*
media agencies experience HKdollars Sdollars Rmb Y
CEO/Regional Director 15+ 1.5M+ 400K+ 2.4M N/A
Managing Director 15+ 1.3M-1.8M 300K+ 1.8M 20M +
General Manager/ 10+ 800K-1.2M 180K-240K 1.2M 18M +
Director of Client Services
Regional Account
Director 10+ 700K-900K 144K-240K N/A 15M +
Group Account Director 8+ 550K-800K 144K-216K 1.2M 12M-15M
Account Director 6+ 420K-600K 72K-108K 480K 10M-12M
Associate Account
Director 5+ 320K-420K 60K-72K 320K 8M-10M
Account Manager/Senior 3-5 220K-320K 42K-60K 216K 6M-8M
Account Executive 96K-156K 24K-33K 100K 5M-6M
Regional Media Director 888K-1M 150K+ N/A N/A
Executive Media Director 1M-1.5M N/A 500K-550K 15M-20M
Media Director 500K-800K 75K-150K 325K-390K 10M-15M
Associate Media Director 360K-400K 60K-90K 234K-260K 10M-12M
Media Manager/Group Head 240K-350K 48K-75K 169K-195K 8M-10M
Media Planner/Buyer 120K-200K 25K-48K 65K-91K 6M-8M
Regional Executive 12+ 1.5M + 350K+ N/A N/A
Creative Director
Executive Creative
Director 10+ 1.08M-2.5M 300K+ 1.6M 20M-25M
Creative Director 10+ 600K-1M 240K-300K 800K 12M-15M
Associate Creative
Director/ 8-10 400K-540K 144K-168K 638K 10M-12M
Creative Group Head
English Copywriter 4-8 250K-600K 60K-120K 160K N/A
Chinese Copywriter 4-8 180K-360K 48K-96K 144K N/A
Art Director 4-8 180K-420K 60K-120K 150K 6M-8M
Public Relations
Agencies Managing
Director / 20+ 1M+ 200K-250K 1,241K-
1,655K 15M-20M
General Manager
Client Service Director 15+ 800K+ 144K-68K 480K-720K 10M-12M
Account Director 10+ 500K+ 110K-160K 300-480K 8M-10M
Account Manager 5+ 350K 66K-90K 96K-156K 6M-8M
Inhouse
Regional Director, 10+ 1M+ 240K-300K N/A 15M-20M
Corporate Communications
Director, Corporate
Affairs 10+ 800K+ 150K -180K 360K-600K 12M-15M
Director, Investor
Relations 12+ 1M+ 120K-150K 100K-150K 12M-15M
Corporate
Communications / 10+ 800K+ 100K-150K 360K-700K 12M-15M
Public Relations Director
Public Relations Manager 7+ 500K+ 84K-110K 200K-300K 12M-15M
Marketing Communications 10+ 800K+ 120K-150K 360K-480K 12M-15M
Director
Marketing Communications 7+ 500K+ 84K-110K 200K-240K 8M-10M
Manager
Event Manager 5+ 350K 50K-70K 150K-200K 6M-8M
Hudson compiled the information contained using data which, to the best
of its knowledge, was current and accurate as at January 2005. All
salary ranges are represented in terms of total guaranteed package, and
exclude discretionary bonuses, stock options, shares or other variable
incentives.