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Chinese executive earnings on par with US
Executive earnings in China and other emerging Asian countries have grown rapidly in recent years, and are on par with, or even higher than those of American senior staff.

Updated:1492682825Source:SilkRoadPost

Executive earnings in China and other emerging Asian countries have grown rapidly in recent years, and are on par with, or even higher than those of American senior staff, according to the Global 50 Remuneration Planning Report published by global business adviser Willis Towers Watson Plc.

Senior managers in the US may be tempted to look for work in Hong Kong or Singapore, where the average yearly basic salary paid to corporate executives was more than 25 percent higher than that in America (US$ 233,000) last year, the report suggested. For every US0 paid to US executives, their Hong Kong and Singaporean counterparts earned US2 and US$ 128 respectively. The figures were slightly lower in China (US$ 98), Japan (US$ 91), Thailand (US$ 87), Indonesia (US$ 82) and South Korea (US$ 82).

“Basic salaries received by senior executives in many Asian markets are similar to or higher than those earned by their American counterparts,” said Xu Wenzhong, global data services managing director at Willis Towers Watson North Asia. “But the Asian markets lack structural diversity. For example, in the US, basic salaries make up around 10 to 30 percent of their total earnings, with the remainder paid as short- or long-term incentives. This kind of performance-based remuneration structure is tilted toward long-term benefits. In contrast, 50 to 80 percent of the amount paid to Asian executives is their basic salary, with incentives making up the remainder.”

Executive earnings have increased significantly in Singapore, Hong Kong, China and some other Asian countries, but the remuneration structures in Asia still need to be improved to compare with Western countries, Xu added. Companies should take bold action to incentivize senior managers and incorporate multiple measures to introduce suitable performance metrics.

The income gap between senior executives and regular employees in nine Asian markets widened last year. The difference in Indonesia is 15.8 times, the highest among these countries, followed by Thailand and Vietnam with 14.9 times, while in China the figure is 10 times.

(By Penny Liu, Louis Berney)

Editor:Joanna You
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