If you’re looking for a place where you and your family can experience a good lifestyle and enjoy a high disposable income under low tax rates, Hong Kong certainly delivers. The city has some of the highest-paid executives in Asia. According to US data company PayScale, finance managers can expect an annual salary of HK$552,945 (US$71,132), project managers are paid around HK$534,444 (US$68,752), and software engineers receive approximately HK$322,486 (US$41,485).
Many expatriates working at multinational companies have access to a raft of benefits, including private healthcare and pensions. Additionally, the Government provides retirement protection through its Mandatory Provident Fund (MPF) scheme. Employees are required to contribute 5% of their monthly income, and the employer has to match this amount.
Staff who stay with their company are well rewarded for their loyalty: According to Salary Explorer, those in top management positions can expect an annual average salary increase of around 15-20%, while junior and senior staff usually receive around 3-5% and 10-15%, respectively.
According to Salary Trends Report Survey 2022/2023 by the market research firm ECA International, workers in Hong Kong are expected to receive a salary increase of 4% in 2023. The same survey also found that they have also benefited from low inflation compared to their Asia-Pacific and global counterparts. Despite expected inflation increases next year, the report suggests that buying power in Hong Kong will grow faster than in many other global locations.
The information provided is for reference only and is subject to periodic updates. For the latest information, please visit the relevant website.