China’s accounting and finance recruitment landscape this year will by turns be shaped by dynamism, as Chinese firms seek international expansion, and prudence among businesses, due to an uncertain economic backdrop.
‘The accounting and finance hiring forecast for 2025 indicates a persistence of the conservative hiring practices seen in 2024,’ says Sean Li, general manager at Robert Walters China, ‘with a marked preference for experienced financial professionals, predominantly sought after by foreign companies. Meanwhile, the domestic capital market exhibits a prudent approach, with not particularly robust financial activities and a focus on cost reduction and efficiency.’
‘Recruitment is increasing for internal audit, compliance and CFO positions’
The economic backdrop will present a variety of challenges, according to Robert Half director Andrew Brushfield, primarily fostering a subdued business environment with lay-offs ongoing, but there are also notable areas of growth and opportunities.
‘We’re seeing a significant increase in recruitment for roles related to internal audit, internal control, compliance and CFO positions,’ he says. ‘This surge in demand is largely driven by evolving national regulations and industry supervision, highlighting the growing importance of risk management and corporate governance in today’s business landscape.’
Further tailwinds include the increasing push by Chinese enterprises toward international expansion, says Rosa Luo, associate director at Michael Page China. ‘This is driven by robust export trade and strategic investments in global markets, particularly in South-East Asia,’ she says.
In demand
Echo Wang, business director for accountancy and finance at Hays China, says there’s a particular need for professionals with international perspectives, expertise in IPOs, M&A and cost control, especially those with proficiency in English and other foreign languages.
‘There’s a surplus of resumés but a dearth of candidates meeting stringent criteria’
Li singles out the impact that finance business partners can have in China. He says: ‘The role of finance business partners is particularly hot, and there’s a clear trend towards hiring for international expansion, with a preference for overseas Chinese or local talent. However, the market faces challenges with a surplus of resumés but a dearth of candidates meeting stringent client criteria.’
Luo adds that while foundational accounting roles will see stable but highly competitive hiring, there will be some demand growth for advanced functional roles, such as financial analysis, budget management and shared service centre positions.
‘Large companies are expected to refine and upgrade their financial teams, placing greater emphasis on skills like financial digitalisation, risk control and process optimisation,’ she says. ‘Smaller businesses, on the other hand, may focus on cost-effective hiring strategies, prioritising practical experience over a background in large companies.’
Cost-cutting is also opening the doors for contractors and temporary workers, Wang says. ‘However, the market for temporary employment in China is still maturing, with entry-level and operational roles increasingly outsourced to manage costs effectively.’
‘Demand is growing for strategic thinking and business acumen’
Skills shift
With the integration of finance and business more crucial than ever, finance departments have evolved from being support functions into entities integral to strategic planning and decision-making. ‘This shift has led to a growing demand for finance professionals who possess strategic thinking, business acumen and strong collaborative skills to drive operations forward,’ Wang says.
There is also rising demand for finance professionals adept at using digital tools and platforms such as blockchain, artificial intelligence and big data analytics, she continues. ‘Across the country, finance roles now emphasise digital skills, requiring proficiency in data analysis tools such as Tableau and PowerBI, and familiarity with ERP systems like SAP and Oracle.’
The digital era also compels professionals to swiftly transition from traditional financial accounting to more business-oriented finance roles, according to Li, who also highlights the growing importance of soft skills. ‘Experience handling challenging situations and complex business operations are highly valued,’ he says. ‘Foreign enterprises often prefer candidates with experience in private enterprises, appreciating their more flexible approach to problem-solving.’
‘Competition is high for foundational accounting jobs’
Salary expectations
There is a loose consensus on salaries among the recruitment experts, although there is strong agreement that those with the right experience and skillsets – especially those with more seniority, proven leadership, advanced specialisms and overseas or international business experience – will be in a good negotiating position on salary.
Specialists in digital transformation, governance and strategic finance will command higher salary growth due to their critical value to organisational goals, yet there is no expectation of salary growth for financial executive positions, Li says.
Wang says some senior roles will command raises of up to 20%, though there will be a decrease from 10%-30% for some regional positions.
‘Salaries for junior roles are likely to remain stable due to high competition in foundational accounting jobs,’ says Luo, although Wang suggests a 15%-25% salary hike is possible for this cohort.
Luo expects mid-level professionals in areas such as FP&A may see modest increases, which tallies with Wang’s prediction of salaries either plateauing or rising 10%-20%. Li says job-hopping salary growth for junior and middle levels will be similar to previous years, averaging around 20%.
Beyond cash
Brushfield identifies a subtle shift in the landscape for perks and benefits in China. ‘While flexible working arrangements were a hot topic in previous years, the current focus is on tangible rewards like increased cash compensation,’ he says. ‘Additionally, the allure of stock options appears to have diminished somewhat, suggesting a potential shift in employee priorities and employer strategies for attracting and retaining talent.’
Li doesn’t necessarily agree, pointing out that Robert Walters has observed that extending stock options, shares and retention bonuses are effective talent management tactics.
Flexible working arrangements, learning and development opportunities, and mental health initiatives are expected to remain key focus areas for progressive employers in China, Luo says. ‘Companies are likely to enhance diversity, equity and inclusion efforts while personalising career development pathways to retain top talent.’
More information
Find your next job on the ACCA careers website, and download the Robert Walters China salary guide and the Michael Page China salary guide
