Hong Kong employees have seen the highest pay raise in three years according to JobsDB’s Job Seeker Salary Report 2022, with wages rising by 3.2% on average across the city. This marks a significant increase compared to last year’s 0.4% marking a record high and a return to pre-pandemic levels.
The report, which is based on responses from 3,632 local companies also revealed that 72% of respondents reportedly received double pay and/or bonuses, which is a 6% year-on-year increase from 2021. This signifies an overall improvement in this year’s employment market in which respondents have become more optimistic about employment prospects with 60% of them holding a neutral or optimistic view, up 12% from the previous year.
Showing signs of a resurgence, over half of the full-time workforce (53%) reported that they received pay rises this year—up 19% compared to last year, whilst pay freezes and cuts were down by 14% and 5% respectively. The sectors experiencing the biggest increases in pay were Analytics, Digital Marketing, E-Commerce & Social Media and Public Relations and Corporate Affairs. However, those in Retail and F&B recorded negative salary growth indicating that workers in these sectors are still vulnerable.
Bill Lee, Managing Director, JobsDB Hong Kong said, “According to the findings, it is evident that the recruitment and employment market in Hong Kong has grown more dynamic since last year with more employees looking into a job change or even switching sectors. Anticipation of tougher competition in the employment market comes as more employees are looking to change their careers for ‘a better career prospect or a higher salary’.
Paul Arkwright
Publisher
