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Hong Kong

Basic Economic Summary

Overview

Hong Kong expects to see a rise in demand in system development, data, innovation, artificial intelligence, internet of things and software development. (Robert Walters 2020 salary guide)

On the software engineering side, there is continued high demand for experience in C++ and Python to accommodate the increasing prevalance of blockchain. Developers with a background in Java, C# and PHP web development and data analysts specialising in SQL, Python and Advanced excel are also sought after as well. There has been a trend towards candidates developing specific skillsets due to increasing specialisation within the IT industry. (Robert Walters 2019 tech salary guide)

Basic Information

Local Languages: English (Official), Chinese (Official), Cantonese

Major Economic Hubs: Hong Kong

Currency: Hong Kong Dollar (HKD)

Population: 7,500,000 (2020)

Date Format: dd/mm/yyyy

Useful Information

GDP Per Capita (in USD): $48,756

Exchange Rate (HKD/USD): 0.13

PISA Ranking: 4

Number of University Graduates (2018): 21,444

Local Universities

Renowned Local Universities:

University Number of Graduates (Undergrad) Niche Subjects Rankings
University of Hong Kong 3,989 (2019) Engineering & Technology, Accounting & Finance World University Ranking: 39, Asia University Ranking: 4, World Reputation Ranking: 51-60, Engineering and Technology Ranking: 42, Business and Technology Ranking: 36, Computer Science Ranking 39
Hong Kong University of Science and Technology 2,369 (2019) Business, Engineering and Technology World University Ranking: 56, Asia Univeristy Ranking: 5, Young University Ranking: 1, World Reputation Ranking: 91-100, Engineering and Technology Ranking: 26, Business and Economics Ranking: 29, Computer Science Ranking: 31
Chinese University of Hong Kong 3,814 (2019) Communication and Media Studies, Computer Science World University Ranking: 56, Asia University Ranking: 8, Young University Ranking: 12, World Reputation Ranking: 101-125, Engineering and Technology Ranking: 77, Business and Economics Ranking: 59, Computer Science Ranking: 43
City University of Hong Kong 3,781 (2019) Communication and Media Studies, Business World University Ranking: 126, Asia University Ranking: 16, Young University Ranking: 7, Engineering and Technology Ranking: 64, Business and Economics Ranking: 72, Computer Science Ranking: 84
Hong Kong Polytechnic University 4,599 (2019) Engineering, Accounting & Finance, Computer Science World University Ranking: 129, Asia University Ranking: 24, Young University Ranking: 19, World Reputation Ranking: 126-150, Engineering and Technology Ranking: 75, Business and Economics Ranking: 29, Computer Science Ranking: 79

Salary Data

Average Monthly Salary of Jobs:

The table below shows the average salaries for some permanent roles in 2020. More information about salaries in Hong Kong can be found on Robert Walters’ Salary Survey.

Job TitleAverage Salary Range (HKD)Average Salary Range (USD)
Accounting Manager45,000 – 70,0005,804 – 9,028
Software Developer20,000 – 35,0002,579 – 4,514
Data scientist30,000 – 45,0003,869 – 5,804
UX/UI Designer40,000 – 60,0005,159 – 7,738
Project Manager25,000 – 45,0003,224 – 5,804
Sales Manager58,333 – 83,3337,523 – 10,748

For tech professionals staying in a role, 24% expect a 1-6% annual salary increment, 49% expect a 7-15% annual salary increment while 13% expect a 15%+ annual salary increment.

Talent Sourcing Tips

English Proficiency: Moderate Proficiency

Number of LinkedIn Users (2019): 1,939,000

Top Local Job Portals: JobsDB, Indeed, Neuvoo

More information about job portals in Hong Kong can be found here.

Top Recruitment Agencies: Michael Page Hong Kong, Connected Group, Egon Zehnder

Taxes

Employer Payroll Tax (Per Month)

Type of Tax Salary Range (HKD) Contribution (%)
Mandatory Provident Fund ≤ 30,000 5%
Mandatory Provident Fund > 30,000 $1,500

The mandatory provident fund can be found here.

Employee Payroll Tax (Per Month)

Type of Tax Salary Range (HKD) Contribution (%)
Mandatory Provident Fund < 7,100 0%
Mandatory Provident Fund ≤ 30,000 5%
Mandatory Provident Fund > 30,000 $1500

The general employee payroll tax can be found here.

Employee Monthly Income Tax

Income Group (HKD) Contribution (%)
1 – 4,166.67 2%
4,166.67 – 8,333.33 6%
8,333.33 – 12,500 10%
12,501 – 16,666.67 14%
> 16,666.67 17%

Hong Kong follows a progressive income tax model. The source for the employee income tax can be found here.

Minimum Wage & Payroll

Minimum Wage

The Statutory Minimum Wage (SMW) is HK$37.50 per hour.

Payroll Cycle

Paid monthly. Salary due on the last day of wage period. Grace period of 7 days is given after which employer is subjected to pay interest on top of the wages.

Bonus

13th Month Salary

Not mandatory.

Working Hours & Statutory Leave

Maximum working hours

No statutory maximum working hours or standard working hours but those 18 years and below have regulated working hours.

Average working hours are 42 hours per week.

Public Holidays

The public holidays can be found here.

Leaves

Annual Leave
Years of Employment Number of Annual Leave
1 7
2 7
3 8
4 9
5 10
6 11
7 12
8 13
≥ 9 14

Sick Leave
Category Description of Category Number of Days (Per Year)
1 Supported by medical certificate 36
2 When number of paid sick leave exceeds category 1, medical certificate attending the employee as an in-patient or out-patient should be produced 84

Employees must provide a medical certificate.

Parental Leave

Maternity Leave

Employees are entitled to 14 weeks of paid maternity leave.

Paternity Leave

Usually 4-14 weeks from actual confinement date.

Offboarding & Termination

Termination Process

The termination process is simple.

Contract termination may take place with adequate notice from the party or through payment in lieu of notice. Notice period and pay in-lieu are dependent on whether the employee is on probation as well as contractual considerations.

Notice Period

Probation Probation Period Contractual Provision Notice Period
On Probation Within the first month of probation. There is contractual provision for notice period. As per contract (Minimum 7 days)
  Within the first month of probation No contractual provision for notice period Minimum 7 days
No/After Probation   There is contractual provision for notice period. As per contract (Minimum 7 days)
    No contractual provision for notice period. Minimum 1 month

Severance Pay

Salary Type Severance Pay Calculation
Paid monthly 2/3 of last month’s pay x reckonable years of service
Paid daily 18 days’ wage x reckonable years of service

Probation period

Usually lasts for 1-3 months.

VAT

0%

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