Big bucks for city’s HR execs on shortage
THE Shanghai-based human resource directors of foreign enterprises earned more than 200,000 yuan (US$25,641) on average last year and their salary is set to jump 10 percent year on year in 2007, Shanghai Association of Enterprises with Foreign Investment said in a recent report.
The body attributed the rise in local HR directors’ income, some even higher than their counterparts of the same level in the United States, to a shortage of talent as a result of surging demand.
The average pay of a Shanghai HR director was 230,600 yuan last year, a 10.03 percent growth year on year. The average salary of HR managers was 115,000 yuan while HR specialists and assistants earned from 50,000 yuan to 70,000 yuan each, according to the association.
Demand for high-level HR talent is growing rapidly as more foreign companies move operations and facilities to Shanghai, the association said.
“I am afraid if clients ask us to find a high-level HR manager. It’s a tough task, especially in Shanghai,” said Edward Zhao, a consulting manager of ChinaHR, one of the country’s leading Web-based head hunters.
Besides possessing specialized skills such as training and drafting an enterprise salary structure, top HR directors often need work experience of more than 15 years and at least seven to eight years for a HR manager, according to Zhao.