Rabu, 20 Oktober 2010

Asian Executive Careers: Income Convergence in Asia

By Richard Mills

Jobs Vacancy, Job vacancies, Employment Jobs

Most people in Asia still think expatriates earn more than they do but the fact is that most of these differences have already been minimized. In advanced commercial centers like Singapore and Hong Kong, equal-pay-for-equal-work has been a reality for some time. In emerging countries, the situation is still evolving but the trend is well advanced even there.

Across Asia, local managers in growth sectors have seen relentless salary increases and many earn as much these days as any expatriate could ever hope for.

In the good old days, it was standard for expatriates to be provided with luxurious benefits to keep them comfortable during "hardship postings" in Asia. These included executive housing (including servants), automobile & driver, expensive international schooling for children, annual fly-backs for the entire family, country club memberships and even a "hardship bonus" that alone added 20% - 40% to base compensation.

Except for a few hold-outs, the traditional "expat package" has gradually but steadily been eroded over the past decade. Far from being considered an expatriate's right, today everything is negotiable. Companies often still provide financial support to their relocated managers but the amounts and types are gradually being reduced.

It used to be that overseas executive postings were top down in nature. Managers were sent from head-quarters to a far-flung country office for experience. They would spend 3 or 4 years dictating company operating procedures to local staff whose performance was measured by how well they complied. There was little opportunity for "locals" to aspire to senior management within their own country let alone outside it.

Today, Indians, Filipinos, Malaysians and Singaporeans all can be considered for the top jobs in their own countries and have the same cross posting opportunities in other countries as well.



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