Find out what contributes to an Assistant Accountant salary in Hong Kong:
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If you’re a jobseeker looking for your next challenge, securing an Assistant Accountant role can be a fantastic way to launch your career in the finance sector. As a key member of the finance team the responsibilities of the position are wide ranging and varied, as you support Senior Accountants with day-to-day tasks and strategic decisions to improve business performance.
However, before you commit to pursuing a role as an Assistant Accountant, you’ll likely be curious about how financially rewarding the role might be. So we’ve put together this article explaining everything you need to know about an Assistant Accountant salary in Hong Kong.
What does an Assistant Accountant do?
As the key support for the Senior Accountant and the wider finance team, Assistant Accountants perform a huge range of tasks. From helping to prepare financial statements, budgets and accounts, to processing invoices and preparing VAT returns, the role offers much variety. The ability to effectively collaborate with others during project work is essential, as is a high level of administrative skills, as you will be required to take minutes and perform other admin tasks regularly.
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What are the key responsibilities of the role?
While an Assistant Accountant is often an entry level position, it also comes with a suite of responsibilities. As the role is dealing with sensitive financial information, discretion and attention to detail is a must. Some of the key responsibilities may include processing payments and invoices, performing reconciliations, verifying financial statements, and preparing profit and loss sheets and the yearly budget.
What skills and qualifications do Assistant Accountants need?
While a Bachelor’s degree may not be required to secure a role as an Assistant Accountant, a degree in accounting, economics or mathematics could help you stand out from other candidates. Additionally, previous experience is also generally not a requirement, however, if you have worked in a similar role within the finance sector it would be advantageous.
Most important is to possess the skills that are essential for success in the role. Top of the list is discretion and attention to detail, followed by the ability to produce accurate reports, prioritise your time, work to strict deadlines and approach work in an organised and methodical way.
What is the difference between Assistant, Junior and Staff Accountants?
When pursuing a position as an Assistant Accountant, it’s also important to understand how the role differs from a Junior Accountant and Staff Accountant.
A Junior Accountant is an entry level role which is generally responsible for completing basic accounting duties such as bookkeeping and recording financial transactions, while a Staff Accountant is a mid-level employee with a related degree, who sits between a Junior and Senior Accountant.
The role of an Assistant Accountant is to provide support to all members of the finance team, which can also include Junior and Staff Accountants.
What is an Assistant Accountant salary in Hong Kong?
So if the tasks and responsibilities of the role seem a good match for your skills and attributes, the big question is, what is an Assistant Accountant salary in Hong Kong?
According to the Robert Half 2023 Salary Guide, the midpoint range within small-medium businesses is $256,000 per year, while for large organisations, the midpoint climbs to $297,000.
Within the salary guide the pay range is broken down further with Beginner, Mid-level and Advanced salaries for both small-medium and large business shown to help you get a clearer picture of where you sit on the scale.
If you have little or no prior experience and are still developing the relevant skills, as a Beginner, you can expect to earn somewhere in the vicinity of $229,000 in a small-medium organisation, and $249,000 in a large company. To achieve the Mid-level range shown above, you would likely need some prior experience in the position and possess several relevant skills. For Advanced candidates who have extensive prior experience in the position and have mastered the relevant skills, a salary of around $286,000 (small-medium companies) to $338,000 (large organisations) can be expected.
Is there a high demand for Assistant Accountants in Hong Kong?
According to the Robert Half 2023 Salary Guide, the demand for Assistant Accountants with Advanced skills and experience is high in both small-medium and large organisations. Having said that, opportunities for Beginner and Mid-level candidates are certainly available too, and increasing your chances of securing one in a competitive market comes down to hearing about vacant positions as they arise and putting forward the best application.
As Raymond Pang, specialised finance and accounting recruiting manager from Robert Half Hong Kong explains, being in the know and standing out from the pack is essential.
In any tight market, it’s essential that you have your finger on the pulse and are notified of vacancies as they arise. Working with a reputable recruitment agency who specialises in finance gives you the confidence that you will be put forward for suitable Assistant Accountant roles as they open. A good recruitment agency will also provide tips on how to put your best foot forward in your resume and interview, boosting your chance of securing your dream role faster.
Are you ready to secure an Assistant Accountant role?
If you’re keen to launch your career in finance as an Assistant Accountant, submit your CV or get in touch with our team today. As Hong Kong’s leading recruitment agency, we’ll help you find your ideal role sooner.