HONG KONG, 2 April 2013 – According to the jobsDB Job Seeker Salary Report 2013, 59% of Hong Kong workers are offered a pay rise in 2013 and the average rate is 4.8%, down 0.9% from last year. Among those who changed jobs last year, nearly 60% claim that they have got a better job. As we enter the peak season for recruitment, hiring intention remains positive and the number of vacancies posted on jobsDB has reached 50,000 - a 25% increase after the Chinese New Year.
jobsDB Job Seeker Salary Report is based on an online survey conducted in March 2013, aiming to compare the changes in salaries and bonuses between 2012 and 2013, and to find out the latest job-changing situation among job seekers in Hong Kong. A total of 2,960 Hong Kong employees participated in this survey.
Average Pay Rise 4.8%
jobsDB Job Seeker Salary Report reveals that 59% of Hong Kong workers are offered a pay rise in 2013 and the average rate is 4.8%. Across the 18 surveyed business sectors, the Property/Real Estate sector reports the highest base pay increase (6.4%), followed by Marketing/Public Relations (6%). The average bonus size across all surveyed sectors is 0.8 month.
Mr. Justin Yiu, General Manager of jobsDB Hong Kong, comments, “The average percentage of pay rise is dropped by 0.9% compared with last year, showing that employers continue to adopt a cautious pay strategy. We see that business sectors with good prospects have recorded higher pay increases. The Property/Real Estate sector recorded the highest increase because the role of property practitioners has expanded a lot in recent years. In addition to property security and maintenance, property management professionals are required to oversee various building facilities. Meanwhile, the government is planning to introduce a licensing policy for this industry and employers are on the look-out for talents with hands-on experience,”
“Marketing/Public Relations is another sector with high pay increases, reflecting that businesses are willing to invest in marketing to attract new customers. With the advancement in internet technology, the demand for digital marketing professionals is particularly high.”
Mr. Yiu added, “The average bonus size is increased by 0.3 month compared with last year. I believe this slight growth indicates that overall business performance was not affected significantly last year despite economic uncertainties. Strong domestic demand has provided concrete support to the economy as a whole.”
59% of Job Changers Claim to Have Got a Better Job
The survey finds that 27% of respondents changed job last year and 59% of which claim that they have got a better job. Among those who intend to change jobs this year, 79% of them expect a salary increase after taking up a new job. For unemployed respondents, only 40% expect a salary increase.
Justin Yiu says, “Nearly 60% of workers who changed jobs last year claim that they have got a better job, indicating that good opportunities are available for change seekers. Although the economy is under downward pressure this year, I think the hiring activities would remain active in the first half of this year. In fact, the number of job vacancies posted on jobsDB has reached 50,000, which shows a 25% increase after the Chinese New Year.”
“Those who plan to change jobs should keep an eye on industrial trends and job requirements. If they intend to give up their current job to find a new one, they should also consider their financial situation. As shown from the survey findings, unemployed people tend to have lower expectations for their new job, especially when they are discouraged by job hunting failures or financial difficulties. ”
Over Half of Employees Intend to Change Jobs This Year
According to the report, 52% of respondents plan to change jobs this year and on average they expect a 13% salary increase after job change. With reference to our findings in the past five years, the main reasons for career move are “Not satisfied with current salary/benefit”, “Slim advancement prospect” and “Discontent with company culture”.
Justin Yiu adds, “Employers should be aware that more people plan to change jobs after bonus payout. They might be able to find good job opportunities, especially for high-growth job positions. To avoid staff turnover, management should communicate with their subordinates to understand their work condition and career goals and offer guidance as needed. This is a good way to show the company’s care to employees.”
To retain staff, employers are recommended to take the following measures:
• Establish competitive compensation and benefit packages
• Offer a structured career path
• Build a good employer brand and work culture
The jobsDB Job Seeker Salary Report 2013 is available at http://hk.jobsdb.com/hk/en/staticcontent/job-seeker-salary-survey/2013/i....
– Ends –
About jobsDB
According to Nielsen Opportunity Hunter Telebus Survey 2007-2012, jobsDB.com is the most used recruitment media in Hong Kong. Over the past 14 years, jobsDB.com has built one of the largest databases in Hong Kong with 1 million job seeker members, offering 50,000 jobs per month.
Biography of Mr. Justin Yiu
Mr. Justin Yiu, General Manager of jobsDB Hong Kong, is responsible for the business development and operation of jobsDB in Hong Kong.