Salary Index 2022

Salary Report 2022

Salary Index Hong Kong 2022

The Page Personnel Salary Report is published annually to provide business leaders, hiring managers and job seekers with salary references across various industries in Hong Kong. This comprehensive salary guide is categorised by job functions, including Banking, Financial Services, Technology, Healthcare, Human Resources, Sales and more.

In the past year, the hiring market has seen an impressive rebound, with companies competing against one another to attract and hire the best talent. Download this in-depth annual report to determine how much you should be paying your employees or how much you could be earning in your career. You may also explore our Salary Benchmark Tool to find out how your salary compares against the market average.

The figures presented in our salary report are derived from our proprietary data and network in Hong Kong. These include job advertisements and placements made in 2021, incorporating salary projections for 2022. This year, the salary figures are represented by the average in a set of data and are also categorised based on qualifications, experience and company type.

2021 Talent Trends & Salary Survey Recap

In light of the COVID-19 pandemic, we launched our first Talent Trends report to share insights into what organisations are doing for their employees and what employees are job seekers alike are seeking from their employers, how companies can stay competitive in the war for talent, regional and local hiring trends and sought-after skills sets in the job market.

Those results draw from a survey of 12 Asia-Pacific markets, with responses from over 5,500 businesses and 21,000 employees, of which over 3,500 replies are from directors or CXOs.

As we look forward to exciting, new data for our 2022 Talent Trends report, we look back on the highlights in 2021.

Key Stats: Employment Outlook in Hong Kong

58% increase in contract employment & temporary job listings
87% of those employed anticipate looking for new job opportunities in 2021
30% of Hong Kong employers intend to increase salaries in 2021, and 35% plan to give out bonus payments.
8% expect zero increase from their current salary on a new job offer

Report Highlights

1. Future workplace trends

From our findings, learn about the top priorities for CXOs in 2021, key investment areas, employees’ preferences on workplace flexibility, and performance assessment.

2. People-first strategies

From leadership communication to mental health matters, the report highlights the best people strategies to engage your employees.

3. Salaries and bonuses

Find out how your company’s offer for new hires compare against competitors and expectations from job seekers.

4. Attracting and retaining top talent

Remuneration may be crucial, but it is not everything in talent attraction. Learn about the non-monetary aspects of attraction and retention strategy that job seekers value most.

The Hong Kong Market: The return of optimism and confidence

Mark Tibbatts
Managing Director, Taiwan & Hong Kong

Our Hong Kong Talent Trends 2021 report reflects vital market insights for the following 12 months. While the second quarter of last year was the low point for Hong Kong in terms of hiring activity, the third and fourth quarters saw noticeable rebounds among Hong Kong’s businesses, and optimism is high that the city’s economy will soon start turning the corner in 2021.

Financial services have proven to be resilient throughout the year before, with several banks boasting near-record results. Private equity and venture capital firms have been very active in Hong Kong with significant investment in Technology, Internet, and Healthcare and Life Sciences. Exports also grew in September and November last year and were fuelled by demand from Mainland China.

As a result, hiring demands in these areas have been robust, and we’ve observed hot competition for talent throughout the year. Contracting employment continues to grow as a solution and a career choice in Hong Kong across all sectors as the gig economy continues to evolve. Despite early setbacks and the ongoing challenges affecting Retail and Food & Beverage, there have been encouraging signs in the consumer sectors. We have observed an increase in hiring activity in areas such as FMCG. Hiring activity at senior levels has also been buoyant last year as leadership and expertise have come into focus and is an area we believe will continue to thrive in 2021. 

On the whole, businesses have a real drive to get the engines back up and running once more. Although the immediate outlook remains foggy and a full rebound depends on factors beyond the control of most, optimism and confidence are returning. It is widely anticipated that 2021 will be a better year than in 2020. Demand for talent is likely to increase through the year as the recovery gather momentum.

Download Salary Index 2022