THE overall average remuneration package for senior expatriates in Hong Kong, according to Q3 Associate's fourth annual survey, is $2.6 million a year.
This includes all cash payments but excludes retirement and medical benefits.
This figure represents a 15 per cent increase over the previous year, much of it due to higher residential lease renewals.
The consultancy states the current survey, drawn from expats working at 246 companies in Hong Kong, reflects trends linked to localisation, cost cutting, and bonus cutting.
United States expats continue to receive higher pay than their British counterparts. The average total package for a US expat is $3 million a year, compared with $2.4 million for a UK expat.
Despite the tax differential between the two, US executives receive about 20 to 25 per cent more cash, perks and housing than their UK opposites.
Expats at managing director level get on average $3.7 million. Upper management gets $2.7 million and middle managers get $1.6 million.
