A friend of mine in the Financial Services industry has been offered a role to move to Hong Kong as VP of Product Development for Asia. She has around 10 years work experience post her Masters in Business Adm. and would like to benchmark what are typical VP salaries in HK.
Now I know there is a big range we're talking about, but let me try to narrow it down to the business management roles in Retail Banking, Insurance, Mutual Fund industries with Asia wide scope. She's being offered USD 165,000 + 30% performance based non guaranteed bonus.
Any Comments whether this could be more ?
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so would that make her package around 200,000? actually it all depends on what sort of product development,
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base for such roles is 900-1500 depending on experience and department (retail/insurance paying less than IBD). so she would be pretty much in the middle. 30% performance bonus is normal for such roles.
I think it's a very fair offer.
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it's product development for financial retail products.
Cookie09 - thanks for your feedback. she will be happy to know
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cookie09 if you don't mind me asking what do you mean by 900-1500? Do you mean 900,000 plus 30% and 1500,000 plus 30%. Pardon my ignorance but I am no expert with figures.
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yes purefit 900-1500 base and then 30% of that base on top
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165k + bonus seems to be the norm. However, everything is negotiable, and try to get housing allowance ... rents aren't cheap in HK. Single person, allowance should be between 30k and 40k, between 40k-60k for couple, and expect a little more if you have kids ...
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