Survey: Hong Kong Employees Average 2.8% Pay Rise, Real Growth at Post-Pandemic Low
SingTao · 3 SOURCESabout 2 hours ago2 MIN
Summary
A comprehensive salary trends survey released by the Hong Kong Institute of Human Resource Management and CIIC Management Consulting on Thursday (September 24) shows Hong Kong employees received an average salary increase of 2.8% this year, a marginal improvement of 0.1 percentage points from last year's 2.7% . After accounting for the composite Consumer Price Index (CPI) rise of 1.7% recorded between January and July, the real basic salary adjustment amounts to merely 1.1%—the lowest figure since the post-pandemic period of 2022 .
Key Points
- The survey interviewed 173 Hong Kong companies across 12 industries, covering approximately 180,000 full-time salaried employees .
- Among surveyed companies, 92.6% implemented salary increases this year, while 6.7% froze salaries—down 4.7 percentage points from last year .
- When deciding on pay adjustments, 77% of companies cited company performance as the primary factor, followed by Hong Kong's economic conditions (41%) and market or competitor salary movements (36%) .
- The highest pay raises were observed in the sourcing (procurement) and banking/financial services sectors, both at 3.8%, while accounting and professional services recorded the lowest at 2.0% .
- For next year, companies project an average salary increase of 2.9%, but only 44% have confirmed plans to raise pay, with 56% remaining undecided .
Why It Matters
The survey highlights persistent challenges for Hong Kong workers facing eroding purchasing power, as nominal pay hikes fail to keep pace with inflation . Human resources experts warn that employers are pivoting toward "precision human capital management," potentially reshaping talent retention strategies beyond traditional salary increases . The cautious outlook for 2027 salary adjustments reflects broader economic uncertainties that could affect household incomes and consumer spending in the city .
The survey highlights persistent challenges for Hong Kong workers facing eroding purchasing power, as nominal pay hikes fail to keep pace with inflation . Human resources experts warn that employers are pivoting toward "precision human capital management," potentially reshaping talent retention strategies beyond traditional salary increases . The cautious outlook for 2027 salary adjustments reflects broader economic uncertainties that could affect household incomes and consumer spending in the city .