Hong Kong employees receive 3.2% pay rise, lowest since latter stages of pandemic: survey
Greater Bay Area logs 4.8 per cent increase, but human resources firm says it is ‘cautiously optimistic’ about city’s pay packages in 2025
Hong Kong employees have received the smallest annual pay rise since the latter stages of the pandemic at 3.2 per cent, but they can expect better packages and employment opportunities next year, a survey has found.
The results of a separate poll by a state-owned human resources firm also published on Thursday found that workers in the mainland Chinese cities of the Greater Bay Area reported an average increase of 4.8 per cent this year.
But Lawrence Hung Yu-yun, president of the Hong Kong Institute of Human Resource Management, said he was “cautiously optimistic” over the prospects of pay rises for workers in the city next year.
“The economic situation is unfavourable this year. But the worst has passed, as we now have more inbound travellers and firms are also benefiting from interest rate cuts,” Hung said.
His organisation’s survey revealed this year’s 3.2 per cent pay increase in Hong Kong was the lowest since 2022. It forecast a 3.6 per cent rise in 2025 against the latest level.
Pay packages rose 3.8 per cent year on year in 2023 and 3.5 per cent in 2022.
