China Remains Hot Spot for Executives & Managers

China officially overtook Japan as the world second largest economy this year. As such it’s an increasingly important job market for western executives because China is central to most every global company’s business strategy today. In fact, if you want to get to the top tomorrow, you’ve got to gain experience in China today. According to a piece in the Financial Times, “multinational companies account for most of the executive jobs on offer in China for non-Chinese managers – in spite of efforts at many foreign companies for more than a decade to “localise” their China management.”
Traditional expat packages may not necessarily apply though. Many companies are being very creative in their approach to closing the pay gap between local and foreign workers through a localized pay approach. This trend is not only true for China but taking hold in many markets around the world.
Moreover, Western multinationals are not the only top employers of managers, large local Chinese companies are recognizing the value as well. This trend is one that will continue not only in China, but other growth markets around the world like Brazil and Mexico and is one of my messages to students looking to launch an international career.