A 25% pay increase is now “normal” in HK, Singapore banking

Posted by PSR_AXP 28 days ago
If you thought big pay rises for new joiners in the Asian finance sector were just a 2021 phenomenon, think again.
Shortages of candidates on the ground in both Hong Kong and Singapore, coupled with a booming job market, continue to ensure that pay inflation remains rampant, according to agency recruiters from the two cities who attended a recent eFinancialCareers round table.
A 20% to 25% increment is now the norm, with top performers in sought-after sectors often getting much more. In compliance and legal, for example, the outliers are receiving up to about 45%, a level “previously unheard of”, said a Hong Kong-based recruiter, who like his fellow round table attendees asked not to be named in this article. It’s a similar story for tech professionals and relationship managers.

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