The latest salary trend in Hong Kong has shown steady growth. Despite challenges such as the COVID-19 pandemic and geopolitical tensions, the overall wages in the city have been increasing. Based on the information from Jobsdb, full-time employees had an average salary increase of 4.1% as of 1 March 2023 which is the highest increase within these 3 years. Among the 3,797 people survey, 61% of full-time employee received a pay rise, which is a significant increase from 53% last year.
Having said that, the salary trend and increment vary across different industries in Hong Kong. Industries such as finance, technology, and professional services tend to offer higher salaries due to the demand for specialized skills. On the other hand, sectors such as retail and hospitality may have relatively lower salaries.
Hong Kong Salary Projection in 2024
Looking ahead to 2024, the salary trend in Hong is expected to continue its upward trajectory. The increasing demand for skilled professionals and the recovery of the economy are anticipated to contribute to salary growth in various sectors. Among 139 organisations in Hong Kong that provided projected data for 2024, 62% forecast a pay rise next year, with the average projected adjustment being 4.1% upward.
In conclusion, the salary trend in Hong Kong has been positive, with steady growth observed. Different industries offer varying salary levels and increments. The salary trend is expected to continue rising in 2024, driven by factors such as skill demand and economic recovery.