Reuters reports that bankers' salaries in Asia are set to grow at twice the pace of those in the United States this year, according to an industry survey, widening a gap in pay growth rates and cementing Asia as one of the hottest but costliest hiring markets.
Salaries in Europe and elsewhere in the financial sector are also likely to rise in 2012 but at a much slower rate than in Asia and not for bank chief executives, a survey by human resources consultancy Mercer forecast.
Asia-focused banks such as HSBC and Standard Chartered started to feel the pain from rising wages bills last year as they expanded in the region to capitalise on strong growth rates: Standard Chartered registered a 15 percent rise in staff costs as it competed to hire and retain executives.
The trend is set to continue next year too…
Read all about it at http://www.huffingtonpost.com/2012/03/08/bankers-pay-in-asia-grow_n_1330506.html?ref=business
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