Topic
An increase of 7 per cent after a four-year freeze may sound generous, but it will not go far in expensive city
Hong Kong authorities’ dedication to the cause of promoting and enforcing national security is impressive. So why have successive governments been unable to address the city’s deep-rooted problems?
Following the freezing of the minimum wage in a city with a yawning wealth gap, officials need to revisit their decision when better times dawn.
- One Shenzhen-based brokerage laid off 40 per cent of its analysts during the first quarter and slashed their 2023 bonuses by more than 50 per cent
- It’s a stark turnaround from a few years ago, when securities firms were hiring aggressively and offering compensation of 10 million yuan for star analysts
From January 1, 2025, foreigners will need to earn a minimum monthly salary of US$4,170 to qualify for an employment pass, up from US$3,700.
City leader John Lee is the only government official set to contribute extra to public coffers under finance chief’s plan to introduce two-tiered standard rates tax regime.
Property agents say they expect sales to increase as a result of the end of curbs.
Despite Singapore’s thriving wealth-management sector, private bankers there generally earn less than their counterparts in Hong Kong.
Analysts continue to call for more aggressive stimulus measures to invigorate the job market, after employees saw salaries suffer their biggest quarterly decline in years across dozens of major Chinese cities.
Hong Kong professionals should expect salaries to remain static in 2024, with 81 per cent of employers saying increments will be below 6 per cent, according to Robert Walters Group.
City’s real salary growth, which factors in cost of living increases, falls in middle of regional rankings, according to ECA International.
Findings from a Chinese recruitment platform, based on surveys and résumés, show how the nation’s slow economic recovery is affecting job outlooks among those struggling most to find work.
The AI industry offers the highest average salary for university graduates in China, followed by blockchain, according to a report by recruitment platform Liepin.
Food allowance will also be increased by HK$40 from not less than HK$1,196 to at least HK$1,236 per month.
Asian Migrants’ Coordinating Body and Hong Kong Federation of Asian Domestic Workers Unions want monthly wages raised to HK$6,016 and HK$6,228, respectively.
Hong Kong universities’ business and commerce students have voted JPMorgan and HSBC the top two employers for the second straight year, while those studying for engineering and natural sciences picked the city’s government for the fourth consecutive year.
About one-fifth of Japan’s population are millennials. They’ve spent their entire lives in an economic slump and are mostly just happy to stay afloat – with no plans to have children, own a home, or get rich.
Finance is the top career choice for graduates globally including Hong Kong, as they believe the sector offers better pay and growth prospects, according to a CFA Institute survey.
Unions voice concern over high-ranking staff only receiving 2.87 per cent increases.
Secretary for the Civil Service Ingrid Yeung rejects suggestions that salary increases may fail to match inflation and retain staff.
Hong Kong Chinese Civil Servants’ Association says 5.1 per cent pay rise needed to ‘boost morale’ in public sector.
Workers’ groups from sectors said to be target of new scheme, such as construction, aviation and transport, renew opposition ahead of decision by authorities.
Some sectors already offering higher pay to retain staff amid labour shortages, industry representatives say.
Sources say pay trend survey could mean civil service pay bumps of 2.87 per cent for high-earners, 4.65 per cent for middle-ranking employees and 4.5 per cent for junior staff.
Dozens of employees protested against a vendor providing IT services to Shanghai Pudong Development Bank on Thursday, a rare strike in China that has gone viral amid mounting concerns about a slumbering economy.
The across-the-board pay rise sends a strong signal that the e-commerce and video gaming tech conglomerate has turned the corner after years of bleeding losses.
Readers discuss solutions to the labour shortage and their pitfalls, and ask for a fairer minimum wage as inflation bites.
Chan upbeat about city’s prospects after Legco approves budget by 82-0 majority.
Executives in the banking and brokerage sectors have taken massive pay cuts, with the Communist Party’s top disciplinary watchdog warning that pay in the sector was much higher than in other industries.
Hong Kong-based companies like Tutor Circle are resorting to remote hires after exhausting recruitment search in the city. Recruitment firms say clients are now open to the idea of hiring staff from Southeast Asia.
The rush to fill vacancies pushed the city’s unemployment rate down to a three-year low of 3.3 per cent during the December-to-February rolling period, according to the Census and Statistics Department.
