Hong Kong professionals should expect salaries to remain static next year, Robert Walters survey finds
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Employers in the city are taking a conservative approach and prioritising cost-control strategies, according to the recruitment firm’s global salary survey for 2024.
Only 58 per cent of professionals anticipate a pay rise next year, the survey found. Among those not expecting an increase, 68 per cent stated that the industry or business they work in has been heavily impacted by the current economic climate.
“The market is slowly improving, although employer and candidate confidence remains quite fragile,” said John Mullally, Robert Walters’ managing director in Hong Kong.
The firm surveyed 300 candidates and 150 companies in Hong Kong between October and November this year.
Across industries, the salary adjustments for most functions are expected to be around 1 per cent, with the exception of the construction, property and engineering sectors, which are expected to record 3 per cent growth in 2024.