Talent & Tech Asia Summit 2024
Nearly half of surveyed professionals in Hong Kong plan to move jobs, as higher salary remains the most valued reason

Nearly half of surveyed professionals in Hong Kong plan to move jobs, as higher salary remains the most valued reason

Here's a glimpse of the 2024 salary guide, most in-demand roles, and skillsets to help hiring managers plan better for 2024.

Hong Kong's talent market will continue to be competitive next year, as 47% of professionals surveyed in Hong Kong plan to actively look for new jobs in the next six months, according to a new survey by Morgan McKinley.

Having surveyed 650 businesses and 3,400 professionals, the research revealed that nearly three-quarters (73%) of organisations in Hong Kong have found hiring ‘very’ or ‘quite’ competitive in 2023. A vast majority (91%) have lost staff members in the last six months, with half selecting ‘salary’ as the main reason for their departures.

Hong Kong workers were not happy with the benefits they received: 76% being ‘neutral’, ‘dissatisfied’ or ‘highly dissatisfied’ with their packages.

The top five desired benefits workers in Hong Kong look for in a job are:

  1. Bonus
  2. Work from home
  3. Health insurance
  4. Flexible working hours
  5. Health and wellbeing support

‘Higher salary’ remains the most valued reason for wanting to move jobs at 60%, followed by ‘career growth and development opportunities’ at 13%. More than half (57%) of professionals in Hong Kong are optimistic that they will receive a salary increase in 2024, and 47% of employers plan to increase salary offers in 2024 for certain in-demand roles.

Rob Sheffield, Managing Director of Morgan McKinley Hong Kong & China, commented: “In the current environment, employee retention is going to be key. Whilst competitive salaries are important to attract talent, it doesn’t always correlate with retaining employees. You need to also offer comprehensive benefits, have a slick hiring process, create a positive candidate experience, provide flexibility in working patterns and encourage professional development.”

To help hiring managers better plan out for next year, as well as to give professionals more visibility over what they can earn, here's a glimpse of the 2024 salary guide, most in-demand roles and skillsets across different industries in Hong Kong.


Accounting & Finance

In-demand roles: 

  1. Internal audit manager
  2. Regulatory reporting
  3. Financial planning and analysis manager
  4. Mergers and acquisitions manager
  5. Fund accountant

Valuable skillsets:

  1. Internal audit
  2. CPA
  3. Risk management
  4. Data analytics
  5. Mergers and acquisitions

2024 salary guide:

 Job Title     Permanent (HK$ Per Month)      Contract (HK$ Per Month)   
 Low  Median    High  Low  Median    High 
 Payroll Manager $48,000 $55,000 $65,000 $48,000 $55,000 $65,000
 Financial Planning and Analysis Manager $60,000 $70,000 $80,000 $60,000 $70,000 $80,000
 Vice President - Regulatory Reporting $50,000 $70,000 $90,000 $70,000 $100,000 $120,000
 Internal Audit Manager $60,000 $70,000 $80,000 $60,000  $70,000 $80,000
 Fund Accountant $25,000 $37,500 $50,000 $30,000  $50,000 $80,000

Banking & Financial Services

In-demand roles: 

  1. Sales (fund/private banking/corporate banking)
  2. Assistant relationship manager
  3. Trader
  4. Corporate actions
  5. Payment

Valuable skillsets:

  1. Relationship management
  2. People management
  3. Mandarin speaking
  4. Coding skills (for trading floor)
  5. Technical skills (financial modelling, equity research multi-strategies)

2024 salary guide:

 Job Title     Permanent (HK$ Per Month)      Contract (HK$ Per Month)   
 Low  Median    High  Low  Median    High 
 Administrator $18,000 $25,000 $35,000 $22,000 $28,000 $35,000
 Manager $50,000 $70,000 $80,000 $55,000 $85,000 $115,000
 Head Of $80,000 $120,000 $150,000 $90,000 $150,000 $190,000
 Sales Support $25,000 $45,000 $85,000 $25,000 $50,000 $80,000
 Trade Support $20,000 $45,000 $80,000 $25,000 $50,000 $80,000

Human Resources

2024 salary guide:

 Job Title     Permanent (HK$ Per Month)      Contract (HK$ Per Month)   
 Low  Median    High  Low  Median    High 
 HR Director / Head of HR (8+ years of experience) $100,000 $150,000 $200,000 $130,000 $150,000 $200,000
 Regional HR Director (15+ years of experience) $100,000 $150,000 $250,000 $130,000 $160,000 $200,000
 Talent Acquisition Manager $55,000 $65,000 $75,000 $40,000 $55,000 $60,000
 Learning and Development Manager $50,000 $60,000 $80,000 $50,000 $60,000 $70,000
 Compensation and Benefits Manager $60,000 $70,000 $80,000 $45,000 $55,000 $70,000

Legal, Risk & Compliance

In-demand roles: 

  1. Documentation negotiator
  2. Legal counsel
  3. Risk analytics manager
  4. Equities compliance officer
  5. Trade surveillance

Valuable skillsets:

  1. Data privacy
  2. FICC
  3. Technology risk
  4. Cross-border regulatory knowledge
  5. Regulatory and financial crime compliance

2024 salary guide:

 Job Title     Permanent (HK$ Per Month)      Contract (HK$ Per Month)   
 Low  Median    High  Low  Median    High 
 Risk Manager $45,000 $60,000 $80,000 $50,000 $65,000 $85,000
 General Counsel $120,000 $220,000 $300,000 $120,000 $200,000 $300,000
 Legal & Compliance Manager / Director $80,000 $150,000 $250,000 $85,000 $150,000 $250,000
 Fraud Analyst $30,000 $55,000 $75,000 $30,000 $55,000 $75,000
 Documentation Negotiator $25,000 $45,000 $70,000 $35,000 $50,000 $80,000

Sales & Marketing

In-demand roles: 

  1. Sales manager
  2. E-commerce manager
  3. Market analyst
  4. Performance marketing manager

Valuable skillsets:

  1. Business development
  2. Data analysis
  3. E-Commerce development
  4. Account servicing

2024 salary guide:

 Job Title     Permanent (HK$ Per Month)      Contract (HK$ Per Month)   
 Low  Median    High  Low  Median    High 
 Account Manager - Sales $25,000 $30,000 $40,000 $25,000 $30,000 $40,000
 Business Development Director $55,000 $75,000 $100,000 $55,000 $75,000 $100,000
 Marketing Director $60,000 $80,000 $100,000 $70,000 $90,000 $120,000
 Corporate Communications Manager $40,000 $50,000 $65,000 $40,000 $50,000 $70,000
 Events Manager $30,000 $40,000 $55,000 $30,000 $45,000 $60,000

Supply Chain & Procurement

In-demand roles: 

  1. Supply chain management
  2. Demand & supply planning
  3. Strategic sourcing & procurement
  4. Process improvement & engineering
  5. Supply chain analyst

Valuable skillsets:

  1. Operational excellence
  2. Process re-engineering & optimisation
  3. Inventories control and allocation
  4. Data analysis

2024 salary guide:

 Job Title     Permanent (HK$ Per Month)     
 Low  Median    High 
 Logistic and Operations Manager $35,000 $50,000 $60,000
 Procurement Manager $45,000 $60,000 $70,000
 Sourcing Manager $45,000 $55,000 $65,000

Technology

In-demand roles: 

  1. Java programmer
  2. Mobile developer
  3. Cybersecurity
  4. Solution architect
  5. Data scientist

Valuable skillsets:

  1. Python
  2. Cloud (AWS/Azure)
  3. Data lake
  4. SQL
  5. System and network

2024 salary guide:

 Job Title     Permanent (HK$ Per Month)      Contract (HK$ Per Month)   
 Low  Median    High  Low  Median    High 
 Algorithm Engineer $30,000 $50,000 $70,000 $30,000 $50,000 $70,000
 Backend Developer $25,000 $40,000 $65,000 $25,000 $40,000 $65,000
 Cyber Security Manager $50,000 $70,000 $80,000 $50,000 $70,000 $80,000
 Data Analytics Manager $50,000 $60,000 $70,000 $30,000 $45,000 $55,000
 IT Director $70,000 $90,000 $120,000 $70,000 $90,000 $120,000

Lead image / 123RF

All data / Morgan McKinley 2024 Salary Guide

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