2018 sales salaries for assistant managers, managers and sales directors, quoted in HKD per month.
Sales Salaries (Basic salary excluding bonus)
(HKD per month)
|Role / Years of experience||Assistant Manager / 3-5||Manager / 6-10||Director / 11+|
|Account Management||20k - 28k||28k - 50k||50k - 80k+|
|Business Development||20k - 28k||28k - 55k||55k - 100k+|
|General Manager||*||*||100k - 180k|
|Managing Director||*||*||120k - 200k|
* Roles do not typically exist at these levels
Commentary on Sales Roles and Remuneration in Hong Kong for 2018
Across the board, market conditions remain tight and the impact on sales roles will continue throughout 2018.
Many retailers have suffered lower business volumes over the past few years. This trend is also affecting international luxury retail brands, which are closing flagships in favour of cheaper rent locations or moving out of Hong Kong. Though there is an appreciation for sales boutique management experience, we forecast a further drop in sales people demand. Although there are signs that the sector could pick up in the short term, we have not seen an obvious change in recruitment. Sporting brands are an expanding sector within retail, driven by the increasing awareness of the importance of health and fitness.
FMCG is also facing a similar change in consumer needs. Consumers are becoming increasingly health and wellness conscious and being careful with their choice of food and beverage and personal care products, placing importance on organic and natural ingredients and the origin of ingredients. Together with the increasing demand for convenience in terms of ordering and delivery, the traditional channels for FMCG are coming under fire as new channels are created for sales.
Within travel, the growing trend of consumers to utilise third party websites for reviews and making price comparisons before booking is leading to a decline in the traditional channels. As consumers book directly through hotel sites, the customer base for travel agents in shops/retail has dramatically declined.
An area of growth is within fintech. Hong Kong has been expanding in the mobile payment and contactless sector throughout 2017. New players are entering the market and although Hong Kong is behind Singapore and China, the opportunity for growth through business development and sales into banking partners and corporate merchants is significant.
The government continues to support IT&T development in Hong Kong, with budgets being invested into research development bodies and associations. As such, we expect the IT&T sector to have stable growth with expanded hiring in sales functions.
Overall, the general market will see salaries remain static with slight 3-4% salary increments following internal salary review and 10-15% for external moves.