0.5pc rise forecast as bosses trim budgets
Hong Kong companies are tightening their belts, with the latest pay trend report disclosing predicted pay rises for this year of about half a per cent.
The 2001 China and Hong Kong Pay Level Survey was released yesterday, with 50 companies in the territory and 30 on the mainland outlining their predicted average salary increases.
Hong Kong employers plan a 0.4 per cent rise for lower-level staff, 0.5 per cent for general and supervisory or technical levels, and 0.6 for management.
In 1999, wage rises across these categories ranged from 0.7 to one per cent and in 2000 from 1.5 to 2.2 per cent. Last year, they rose from 2.7 to 3.1 per cent.
Only 37 companies forecast that they would offer the 13th-month bonus this year, compared with 41 in 2001. Those working in sales and marketing will have the highest pay increases, with an average of 1.5 to 3.8 per cent and up to 10 per cent for managerial staff.
Industries projected to receive no extra pay are construction, metal and machinery, services, retail and transport.
Companies employing more than 1,000 workers generally projected no increases. Companies with fewer than 300 employees will pay an average of 0.4 to 0.8 per cent more.
Overall pay rises for mainland employees are predicted to reach 3.2 per cent for supervisory or technical staff. Managers and general staff will receive 3.1 per cent and lower-level staff 2.4 per cent.
The survey was carried out by the Hong Kong People Management Association and the Wing Lung Bank International Institute for Business Development at Hong Kong Baptist University.
