More working professionals in Hong Kong SAR will receive raises according to new Hays salary guide

The survey conducted by Hays across six locations including Hong Kong SAR, China, Japan, Malaysia, Singapore and Thailand in late 2024 gathered insights from 3,670 hiring managers regarding expected changes in salaries or rates of pay within their organisations. Additionally, 8,790 skilled professionals were queried about their remuneration expectations for the year, including anticipated changes, satisfaction with pay, and whether they felt their salaries aligned with their responsibilities. 

In Asia: Modest raises amidst tough economic backdrop 

Despite cautious pessimism about the broader economic climate, sentiments around salary are showing signs of improvement. Fewer professionals in Asia can expect to encounter no change in their salaries this year, down from 29 per cent in 2024 to 23 per cent. Professionals can also anticipate fewer pay cuts this year, down from seven per cent last year to six per cent in 2025. 

Conversely, most employers in Asia (34 per cent) expect to provide salary increments of between 2.5 per cent to five per cent, consistent with last year’s rate. Notably, organisations are increasingly committed to rewarding key talent on a higher scale, with 10% of hiring managers planning to offer raises between 6 per cent and 10 per cent, nearly double from last year (six per cent). 

More raises in Hong Kong this year 

The outlook in Hong Kong has improved from 2024, with organisations looking to provide increments to more working professionals this year. 77 per cent of professionals in Hong Kong can expect to receive a raise this year, ahead of Singapore (75 per cent), Japan (70 per cent) and China (56 per cent). The largest shift comes from the number of organisations expecting to hand out pay cuts, down to three per cent this year from 14 per cent in 2024. 

Most professionals in Hong Kong can expect to receive increments up to 2.4 per cent (36 per cent), followed by increments between 2.5 per cent to five per cent (31 per cent). Ten per cent of professionals stand to enjoy pay raises between six to ten per cent. 20 per cent of professionals will see no change to their salaries this year. 

Professionals are closely aligned with organisations regarding increments, with 81 per cent indicating they expect a raise. Most professionals expect to see increments between 2.5 per cent and five per cent (38 per cent), while 16 per cent of professionals predicted their salaries would not change. 2 per cent of professionals were bracing for decrements this year. 

“36 per cent of respondents in Hong Kong stated they would remain with their current employer due to the salary package offered,” said Sue Wei, Managing Director at Hays Greater China. “The desire for better salaries currently outweighs other Employee Value Propositions such as work-life balance and job security.” 

More responsibilities for more pay 

Salary increments in Hong Kong are also accompanied by increased expectations regarding work output. 54 per cent of professionals reported that their workload or scope of responsibilities had increased as a result of changes to their salary. While 46 per cent of respondents felt their pay was aligned with their responsibilities, 38 per cent disagreed. 

“43 per cent of working professionals in Hong Kong expressed dissatisfaction with how much they were currently being paid. Additionally, 57 per cent of professionals intend to switch jobs this year with 40 per cent choosing to do so for better remuneration,” said Sue

Professionals across Asia expressed similar sentiments to their Hong Kong counterparts. 40 per cent of professionals in China choosing to seek employment elsewhere this year were also doing so for higher pay. This percentage rises to 47 per cent in Singapore and peaks at 56 per cent in Malaysia. 47 per cent of professionals in Malaysia also did not believe they were being paid commensurate with their work responsibilities

“Leaders will need to act on these findings or risk losing valuable assets to competitors willing to offer better packages. Consider evaluating your pay scales to maintain competitiveness within the industry,” said Sue.