Morgan McKinley 2017 Salary Guide covers salary ranges for professionals working in Japan.
2016 was a mixed year in the hiring market for many organisations in Japan. Global factors such as Brexit, uncertainty about the outcome of the US election and a continued slowdown in China all played their part. We saw strong job volume in the first half of the year, but that dropped by roughly 17% in the second half of the year (H1 v H2). Year on Year (calendar) job volume was approximately 10% down.
Much like previous years most of the hiring that took place was for replacement headcount. Although the yen strengthened against a number of the major currencies there did not seem to be many issues in signing off replacement hires.
In the commercial sectors a few industries seem to have held up better than others including tech, retail and of course the healthcare sector. In the financial services sector, it was a year overshadowed by the negative interest rate policy that the bank of Japan implemented, as well as the subsequent volatility in the markets. A number of financial institutions, despite everything that happened, posted strong financial results in the last 2 quarters of the year. There are clearly a number of global factors, and potential hurdles, that may have an impact yet on the job market in 2017, but the early outlook for the Japanese economy looks encouraging.
In the 2017 Salary Guide you will find brief commentaries on the specific sectors and disciplines served by Morgan McKinley in Japan. It includes our thoughts on the outlook for 2017, together with tabulated figures setting out average pay rates according to level of experience, seniority and the size of the organisation.
I hope you will find the report useful. If you would like more detailed commentary or have any thoughts on current salary trends across the professional occupations covered by Morgan McKinley in Japan, we would be very interested to hear from you.
Managing Director, Morgan McKinley Japan
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