Welcome to Morgan McKinley's 2017 Salary Guide for professionals working in Hong Kong.
Following a challenging year of slow economic growth in China, a globally weak economic recovery, Brexit and the start of the US interest rate hike cycle, it’s not surprising that overall Hong Kong market sentiment remains uncertain.
In line with this, we are seeing a trend of static salaries across the board. Investment banking, where supply is greater than demand, is continuing to experience flat salaries and limited bonuses. Similarly on the commercial side, year on year salary increases are around 3-6% with 10% salary increments reported for both internal promotions and external moves.
From a recruitment perspective, replacement hires represent the majority of activity, with the larger corporations cautious in approving headcount budgets. Certain specialisations, however, are in high demand including IT specialists, regulatory and compliance lawyers and digital marketers.
Tech and Innovation is widely recognised as the engine for growth across every industry. Higher salary opportunities exist for technology talent able to build new platforms and infrastructures to support the burgeoning FinTech industry, for example. Meanwhile, marketers with experience in start ups are attractive to some of the bigger employer brands in the internet and mobile start up sectors expanding their presence in Hong Kong.
The following report provides an overview of the salary and remuneration trends as well as expectations for the Hong Kong market in 2017.
I hope you will find the report useful. If you have any thoughts on current salary trends or would like to understand more about opportunities across sectors, we would be interested to hear from you.
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