Professional Documents
Culture Documents
SALARY
GUIDE
Contents
1 From the Managing Director TECHNOLOGY
30 Remuneration trends
FINANCE AND ACCOUNTING
32 Salaries
5 Hiring trends
10 Remuneration trends
15 Hiring trends
19 Remuneration trends
20 Salaries
In Japan, the demand for top talent continues with companies looking to
develop their businesses, and as a result, increase their headcount to fulfil
new opportunities.
Salary plays a key role in acquiring new employees and retaining existing staff –
in light of this, we have made a change to the Robert Half Salary Guide based
on feedback we have received from both jobseekers and employers. As opposed
to previous years where salaries were published in a minimum to maximum
range, this year the salary ranges will be presented in percentiles according to
skill level and experience. We believe this new approach allows hiring managers
and jobseekers to make better, and more informed decisions when it comes to
salaries in 2018.
As always, we are here to help with your recruitment and job search needs.
Contact us to discuss how we can help you and your team work in a happier,
more productive environment.
David Jones
Senior Managing Director - Asia Pacific
Robert Half
• Data and insights from filled positions and professional job interviews conducted by our
team
• Local insights from the experienced Robert Half team:
• Lyndsey Hughes, Associate Director at Robert Half Japan
• David Jones, Senior Managing Director at Robert Half Asia Pacific
• Chris Kobayashi, Associate Director at Robert Half Japan
• Valentino Sebic, Division Director at Robert Half Japan
• Yewki Tomita, Managing Director at Robert Half Japan
1.2%
Economic growth for Japan
is forecasted at 1.2% for 20181
<2.0%
Inflation in Japan is likely to
remain below 2% in 2018-20192
2.8%
Unemployment in
Japan is at 2.8%, its
lowest level in more than
22 years3
The 2020 Tokyo Olympics are driving optimism in Japan, however the labour supply-demand
imbalance remains challenging, hindering companies from implementing growth plans.
While the Japanese government is pledging to do more to support the growth of the country’s
workforce, companies should ensure they have a proactive recruitment strategy in place in 2018.
In such an intensely competitive market such as Japan, highly skilled professionals find
themselves in an excellent position, and companies need to ensure they move quickly to
secure candidates, whilst ensuring staff retention remains a top priority.
1
Japan Times, 2017, OECD keeps 2018 forecast on track, seeing modest but ‘synchronized’
economic growth.
2
Nikkei Asia Review, 2017, Labor market reform needed for Japan’s sustained growth: IMF.
3
OECD, 2017, How does Japan compare? Employment Outlook.
“When
“ it comes to recruiting quality candidates in finance and
accounting, it’s all about speed, speed, speed. With significant
skills shortages in Japan, companies need to move quickly to
secure the right candidate.”
Yewki Tomita, Managing Director at Robert Half Japan
• The war for talent continues with significant skill shortages in finance
and accounting.
• Counteroffers, while commonly used, are ineffective to retain staff.
• Bilingual expats are in demand as companies turn to foreign labour
to fill positions.
Businesses that find it particularly challenging to source talent need to adjust their
requirements and look for candidates who may not have all the necessary technical skills,
but who have the right aptitude, and then invest in training professionals to the required skill
level once they are hired.
“In
“ the war for talent, there is no time to waste. Hiring managers
who are hesitant to secure a candidate based on a lack of
language skills risk losing the candidate who will be quickly
recruited by a more flexible competitor.”
Chris Kobayashi, Associate Director at Robert Half Japan
4
Bloomberg, 2017, Tokyo has more than two job openings for every applicant.
5
Up to October 2017. Bloomberg, 2017, Why immigrant-shy Japan is luring foreign workers.
In a candidate-short market, companies are on the lookout for professionals who can
demonstrate a strong combination of technical and soft skills. Soft skills are now even
more important, with finance professionals expected to be able to effectively communicate
with and influence stakeholders.
“Finance
“ and accounting is no longer about crunching numbers.
Hiring managers are looking for candidates with excellent soft
skills, so they can effectively communicate data insights for
business strategy and forecasting.”
Yewki Tomita, Managing Director at Robert Half Japan
Accounting Manager
Financial Controller
TECHNICAL SKILLS
SAP
Oracle
Advanced Excel
SOFT SKILLS
Ability to influence stakeholders
Language skills
Negotiation skills
Furthermore, salary is not the only component to consider; companies can offer a range of
non-monetary benefits to attract skilled finance professionals.
“To
“ successfully secure talent in one of the world’s most labour-short
markets, hiring managers need to ensure they demonstrate flexibility
with salary banding for future candidates, whilst ensuring that
existing staff are satisfied with their own remuneration.”
Yewki Tomita, Managing Director at Robert Half Japan
Several factors come into play when deciding on remuneration, such as experience, skills
and job complexity. The following table demonstrates how the key factors correlate with the
compensation figures provided:
The salary figures represent gross yearly starting salaries. Bonuses, incentives and other forms
of remuneration are not taken into account.
The salaries listed are based on actual placements made by our offices in Japan, as well as
an analysis of the demand for the role, the supply of talent and other market conditions. In
some situations, it’s possible that remuneration falls above or below the percentiles provided.
We can help you determine appropriate salary levels for new hires based on your business
goals and budget.
ACCOUNTING
Accountant S/M ¥ 4,500,000 ¥ 5,000,000 ¥ 5,500,000 ¥ 6,000,000
L ¥ 5,500,000 ¥ 6,000,000 ¥ 6,750,000 ¥ 7,500,000
Senior Accountant S/M ¥ 6,000,000 ¥ 6,750,000 ¥ 7,500,000 ¥ 8,000,000
L ¥ 6,500,000 ¥ 8,000,000 ¥ 9,500,000 ¥ 10,250,000
Manager S/M ¥ 7,000,000 ¥ 7,750,000 ¥ 8,250,000 ¥ 9,000,000
L ¥ 8,000,000 ¥ 10,000,000 ¥ 11,750,000 ¥ 13,000,000
Controller/Director L ¥ 10,000,000 ¥ 12,000,000 ¥ 15,000,000 ¥ 17,500,000
ACCOUNTS PAYABLE/RECEIVABLE
Accountant S/M ¥ 3,500,000 ¥ 4,500,000 ¥ 5,500,000 ¥ 6,500,000
L ¥ 4,250,000 ¥ 5,500,000 ¥ 6,250,000 ¥ 7,500,000
Manager S/M ¥ 5,500,000 ¥ 6,500,000 ¥ 7,500,000 ¥ 8,500,000
L ¥ 6,500,000 ¥ 8,000,000 ¥ 9,250,000 ¥ 10,000,000
CREDIT
Manager L ¥ 10,000,000 ¥ 14,000,000 ¥ 17,500,000 ¥ 20,000,000
CONTACT US
EXTERNAL AUDIT
External Auditor L ¥ 6,500,000 ¥ 7,000,000 ¥ 7,500,000 ¥ 8,500,000
Senior External Auditor L ¥ 7,500,000 ¥ 8,250,000 ¥ 9,000,000 ¥ 10,000,000
External Audit Manager L ¥ 9,000,000 ¥ 10,000,000 ¥ 11,000,000 ¥ 12,000,000
External Audit Director L ¥ 12,000,000 ¥ 13,500,000 ¥ 15,000,000 ¥ 16,000,000
FINANCE
Manager S/M ¥ 8,000,000 ¥ 9,500,000 ¥ 11,000,000 ¥ 12,000,000
L ¥ 10,000,000 ¥ 11,500,000 ¥ 13,000,000 ¥ 14,000,000
Controller S/M ¥ 9,000,000 ¥ 10,000,000 ¥ 12,000,000 ¥ 14,000,000
L ¥ 12,000,000 ¥ 13,500,000 ¥ 15,000,000 ¥ 16,000,000
CFO/Finance Director S/M ¥ 12,000,000 ¥ 14,500,000 ¥ 17,500,000 ¥ 20,000,000
L ¥ 15,000,000 ¥ 18,750,000 ¥ 22,500,000 ¥ 25,000,000
INTERNAL AUDIT
Internal Auditor L ¥ 6,000,000 ¥ 7,500,000 ¥ 9,500,000 ¥ 12,000,000
Senior Internal Auditor L ¥ 7,000,000 ¥ 8,250,000 ¥ 10,500,000 ¥ 13,000,000
Internal Audit Manager L ¥ 8,000,000 ¥ 10,000,000 ¥ 12,000,000 ¥ 14,000,000
Internal Audit Director L ¥ 12,000,000 ¥ 14,000,000 ¥ 17,000,000 ¥ 20,000,000
TAX
Manager L ¥ 9,000,000 ¥ 14,000,000 ¥ 17,500,000 ¥ 20,000,000
TREASURY
Treasurer L ¥ 7,500,000 ¥ 12,500,000 ¥ 17,000,000 ¥ 20,000,000
“Hiring
“ managers that want to attract and secure the best talent
would be wise to look at ways to increase hiring efficiencies to
avoid missing out on qualified candidates.”
Yewki Tomita, Managing Director at Robert Half Japan
To adapt to automation, jobseekers must shift their focus to analytics, insights and business
partnership. Companies can respond by bringing additional expertise into the organisation to
lead this change, as well as focus on staff training to leverage the benefits of automation.
“Rather
“ than eliminating jobs, workplace automation will bring
new opportunities for companies and jobseekers towards added-
value activities that will benefit their organisation and career.
Responding to change effectively throughout the transformation
will be key to remain ahead.”
Valentino Sebic, Division Director at Robert Half Japan
6
Deloitte, 2017, CFO Insights Japan Q4.
Investment banking and corporate banking professionals are in high demand, with headcounts
increasing in mergers and acquisitions (M&A). Despite a global slowdown, Japan’s M&A market
is likely to maintain its momentum,7 seeking growth opportunities as an urgent response to the
declining population and slowing economy.
Try to minimise the number Make sure the budget is Don’t delay extending
of internal stakeholders approved before you start the job offer
7
CNBC, 2017, Global M&A activity is slowing, but Japanese firms are aggressively
acquiring overseas.
Service orientation
Custody-related services
Client coverage
Restricting Wellness
hours worked plans
Several factors come into play when deciding on remuneration, such as experience, skills
and job complexity. The following table demonstrates how the key factors correlate with the
compensation figures provided:
The salary figures represent gross yearly starting salaries. Bonuses, incentives and other forms
of remuneration are not taken into account.
The salaries listed are based on actual placements made by our offices in Japan, as well as
an analysis of the demand for the role, the supply of talent and other market conditions. In
some situations, it’s possible that remuneration falls above or below the percentiles provided.
We can help you determine appropriate salary levels for new hires based on your business
goals and budget.
RISK
COMPLIANCE
Analyst ¥ 6,500,000 ¥ 7,000,000 ¥ 7,500,000 ¥ 9,000,000
Associate/Manager/AVP ¥ 8,000,000 ¥ 9,000,000 ¥ 11,000,000 ¥ 14,000,000
VP ¥ 12,000,000 ¥ 14,000,000 ¥ 16,000,000 ¥ 22,000,000
SVP/Director ¥ 18,000,000 ¥ 20,000,000 ¥ 24,000,000 ¥ 26,000,000
Managing Director ¥ 25,000,000 ¥ 27,000,000 ¥ 30,000,000 ¥ 35,000,000
CREDIT RISK
Analyst ¥ 5,000,000 ¥ 5,940,000 ¥ 6,875,000 ¥ 7,500,000
Associate/Manager/AVP ¥ 7,500,000 ¥ 9,935,000 ¥ 12,375,000 ¥ 14,000,000
VP ¥ 13,000,000 ¥ 15,250,000 ¥ 17,500,000 ¥ 19,000,000
SVP/Director ¥ 19,000,000 ¥ 20,875,000 ¥ 22,750,000 ¥ 24,000,000
Managing Director ¥ 24,000,000 ¥ 27,185,000 ¥ 30,375,000 ¥ 32,500,000
MARKET RISK
Analyst ¥ 5,000,000 ¥ 6,125,000 ¥ 7,250,000 ¥ 8,000,000
Associate/Manager/AVP ¥ 8,000,000 ¥ 10,250,000 ¥ 12,500,000 ¥ 14,000,000
VP ¥ 13,000,000 ¥ 15,250,000 ¥ 17,500,000 ¥ 19,000,000
SVP/Director ¥ 19,000,000 ¥ 20,875,000 ¥ 22,750,000 ¥ 24,000,000
Managing Director ¥ 24,000,000 ¥ 27,185,000 ¥ 30,375,000 ¥ 32,500,000
OPERATIONAL RISK
Analyst ¥ 5,150,000 ¥ 6,219,000 ¥ 7,290,000 ¥ 8,000,000
Associate/Manager/AVP ¥ 7,500,000 ¥ 9,938,000 ¥ 12,375,000 ¥ 14,000,000
VP ¥ 13,000,000 ¥ 14,688,000 ¥ 16,375,000 ¥ 17,500,000
SVP/Director ¥ 17,500,000 ¥ 18,438,000 ¥ 19,375,000 ¥ 20,000,000
FINANCE
FINANCE PROJECTS
Analyst ¥ 5,500,000 ¥ 6,625,000 ¥ 7,750,000 ¥ 8,500,000
Associate/Manager/AVP ¥ 8,000,000 ¥ 10,625,000 ¥ 13,250,000 ¥ 15,000,000
VP ¥ 13,500,000 ¥ 15,935,000 ¥ 18,375,000 ¥ 20,000,000
SVP/Director ¥ 19,400,000 ¥ 20,750,000 ¥ 22,100,000 ¥ 23,000,000
Managing Director ¥ 22,300,000 ¥ 24,625,000 ¥ 26,950,000 ¥ 28,500,000
FINANCIAL ADVISORY AND CONSULTING
Associate ¥ 5,000,000 ¥ 6,125,000 ¥ 7,250,000 ¥ 8,000,000
Senior Associate ¥ 7,500,000 ¥ 8,813,000 ¥ 10,125,000 ¥ 11,000,000
Manager ¥ 10,000,000 ¥ 11,125,000 ¥ 12,250,000 ¥ 13,000,000
Senior Manager/Vice President ¥ 12,000,000 ¥ 12,938,000 ¥ 13,875,000 ¥ 14,500,000
Director ¥ 14,000,000 ¥ 15,500,000 ¥ 17,000,000 ¥ 18,000,000
Partner ¥ 18,000,000 ¥ 22,500,000 ¥ 27,000,000 ¥ 30,000,000
FINANCIAL CONTROL
Analyst ¥ 6,000,000 ¥ 6,750,000 ¥ 7,500,000 ¥ 8,000,000
Associate/Manager/AVP ¥ 8,000,000 ¥ 10,438,000 ¥ 12,875,000 ¥ 14,500,000
VP ¥ 13,000,000 ¥ 15,250,000 ¥ 17,500,000 ¥ 19,000,000
SVP/Director ¥ 18,000,000 ¥ 20,625,000 ¥ 23,250,000 ¥ 25,000,000
Managing Director ¥ 25,000,000 ¥ 27,250,000 ¥ 29,500,000 ¥ 31,000,000
INTERNAL AUDIT
Analyst ¥ 5,500,000 ¥ 6,500,000 ¥ 7,500,000 ¥ 8,000,000
Associate/Manager/AVP ¥ 8,500,000 ¥ 9,000,000 ¥ 11,000,000 ¥ 15,000,000
VP ¥ 14,000,000 ¥ 16,000,000 ¥ 18,000,000 ¥ 22,000,000
SVP/Director ¥ 18,000,000 ¥ 20,000,000 ¥ 22,000,000 ¥ 25,000,000
Managing Director ¥ 24,000,000 ¥ 26,000,000 ¥ 30,000,000 ¥ 36,000,000
MANAGEMENT REPORTING
Analyst ¥ 6,000,000 ¥ 6,750,000 ¥ 7,500,000 ¥ 8,000,000
Associate/Manager/AVP ¥ 7,000,000 ¥ 10,000,000 ¥ 13,000,000 ¥ 15,000,000
VP ¥ 14,000,000 ¥ 15,500,000 ¥ 17,000,000 ¥ 18,000,000
SVP/Director ¥ 18,000,000 ¥ 20,625,000 ¥ 23,250,000 ¥ 25,000,000
TAX
Analyst ¥ 6,000,000 ¥ 7,313,000 ¥ 8,625,000 ¥ 9,500,000
Associate/Manager/AVP ¥ 9,000,000 ¥ 11,250,000 ¥ 13,500,000 ¥ 15,000,000
VP ¥ 14,000,000 ¥ 15,875,000 ¥ 17,750,000 ¥ 19,000,000
SVP/Director ¥ 18,000,000 ¥ 19,125,000 ¥ 20,250,000 ¥ 21,000,000
Managing Director ¥ 22,000,000 ¥ 25,375,000 ¥ 28,750,000 ¥ 31,000,000
CONTACT US
“As
“ companies race to digitise and innovate, highly qualified IT
professionals find themselves in high demand. The rapid rate
at which companies are increasing their investment towards
better engagement with consumers will continue to shape the
technology industry.”
Lyndsey Hughes, Associate Director at Robert Half Japan
IT security/risk
Cloud adoption/technology
Digitisation
Industry growth and the changing workplace are driving employers to hire both temporary
and permanent IT staff with the right mix of skillsets to meet strategic and operational
objectives, making contract workers an intrinsic part of the IT department.
8
Reuters, 2017, Japanese companies struggle to hire, retain staff as labor shortage worsens.
A RACE TO DIGITISE
With all eyes on Japan in the lead up to the 2020 Tokyo Olympic Games, companies are
keen to ensure their systems and services – in particular e-commerce and CRM – are of global
standard. With an ageing population and labour shortages, the government is encouraging
companies to invest in technology such as AI as a strategy to help boost the economy.9
DID YOU Artificial Intelligence (AI) and the Internet of Things (IoT) are
KNOW? the top budget priorities for Japanese executives.10
Japan’s Ministry of Economy, Trade and Industry’s “Industrial Policy for Innovation in Japan”
encourages companies to directly learn from and be inspired by Silicon Valley with the aim of
fuelling innovation.11 Companies will rely on skilled technology professionals to develop and
implement those innovative initiatives.
9
Australian Financial Review, 2017, Japan sees social and economic salvation in technology.
10
Financial Times, 2017, Internet of Things tops Shinzo Abe’s list of priorities.
11
The National, 2017, Japanese start-ups generate innovation.
Negotiation skills
12
Inmarsat Research Report, 2017, The Future of IoT in Enterprise.
As the gap widens between supply and demand, companies need to set proactive
remuneration strategies and be open to negotiation, or face reduced productivity
when vacant roles take months to fill.
“To
“ bridge the gap between talent demand and supply in 2018,
companies must be prepared to increase salaries to meet
prospective candidates’ expectations. The more technical the
position, the more flexible companies may need to be with salaries.”
Yewki Tomita, Managing Director at Robert Half Japan
Several factors come into play when deciding on remuneration, such as experience, skills
and job complexity. The following table demonstrates how the key factors correlate with the
compensation figures provided:
The salary figures represent gross yearly starting salaries. Bonuses, incentives and other forms
of remuneration are not taken into account.
The salaries listed are based on actual placements made by our offices in Japan, as well as
an analysis of the demand for the role, the supply of talent and other market conditions. In
some situations, it’s possible that remuneration falls above or below the percentiles provided.
We can help you determine appropriate salary levels for new hires based on your business
goals and budget.
CONTACT US
Here are six steps to help ensure your employees feel satisfied in their jobs*
“Happy
“ employees are an essential component of any thriving business as workplace
happiness can have a tangible impact on productivity and profitability. Employees who are
happy in their job are generally more productive, engaged, creative and less likely to leave
the organisation, which directly impacts the bottom line, thereby enabling companies to
remain competitive.”
* Source: Robert Half’s “IT’S TIME WE ALL WORK HAPPY™: The secrets of the happiest companies and
employees” report.