1、Employment Trends Survey Seventh Edition Hong Kong Executive Salary Outlook 2023March 2023KPMG Executive Search and Recruitment Services kpmg/cn/peopleservices 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG Int

2、ernational Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).ContentsExecutive summarySector highlightsAbout the surveyHeadcount outlook Salary outlook Talent managementGreater Bay Area opportunitiesSalary tablesReferencesAbout KPMG011412

3、143 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Executive summaryHong Kong(SAR)faced a chall

4、enging 2022,with its economy significantly impacted by the fifth wave of COVID-19.Despite the economic downturn,businesses faced a tight employment market due to high demand and a shortage of talent.There is increasing upward pressure on salaries and staff costs as businesses are competing for a lim

5、ited pool of talent based locally.With Hong Kong having started relaxing its measures to contain the pandemic towards the end of 2022,and the border with the Chinese Mainland having reopened at the start of this year,the business community looks to 2023 with renewed optimism,in particular for wealth

6、 management1 and in the consumer retail sector2.For this years Executive Salary Outlook,KPMG collected the views of 1,327 business executives and professionals to take measure of the employment trends in Hong Kong and across the Greater Bay Area(GBA).There was a broadly even split between respondent

7、s from Hong Kong(645 respondents)and the Chinese Mainland(682).Among the Hong Kong respondents,just under half of all respondents(47%)held leadership positions at the C-level or as department head.The larger representation of respondents from the Chinese Mainland compared with previous editions of t

8、his report allows for deeper insights into the career opportunities that the GBA is offering.2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.A

9、ll rights reserved.Printed in Hong Kong(SAR).Tight employment market Hong Kong has undergone a contraction of talent in recent years,while employers seek to increase headcount to meet business opportunities.COVID-19 has been a contributing factor both in terms of professionals reconsidering their wo

10、rk and life priorities,and the ability of organisations to attract talent from overseas.The Hong Kong SAR Governments initiatives to attract talent to Hong Kong,including introducing the Top Talent Pass Scheme and the Capital Investment Entrant Scheme,are welcomed,as is the Chinese Mainlands new mul

11、ti-entry visa scheme that will allow highly-skilled talent to travel freely across the GBA.All of these initiatives should help address the talent shortage.Increased hiring activity expected The employment market in Hong Kong is expected to maintain momentum in 2023 and this is reflected in planned

12、hiring activity.More than a third(37%)of Hong Kong respondents expect staff numbers at the Hong Kong operations of their organisations to increase in 2023,with the percentage rising to 44%for C-level and HR respondents(who are likely to have better insight into hiring intentions).Highlighting that t

13、he economic recovery is still a key theme for Hong Kong,the survey finds that headcount increases are focusing on frontline staff such as sales,fee earners and client relations roles.Slight reduction in year-on-year job movementsJust under a quarter of surveyed respondents from Hong Kong(23%)changed

14、 jobs in 2022,which was down slightly on the very active market seen in the previous year(2021:27%).The survey suggests that there has been lower turnover at more senior levels.KPMG observes from the market that responsibilities have been filled by internal promotions or the expansion of job scopes

15、rather than external hires,and employers have more actively countered offers made to their employees.These responses by employers may have contributed to the lower turnover seen in the survey.Upward trend in expectations around salaryRespondents from Hong Kong that changed jobs in 2022 managed to se

16、cure an average salary increase of 23%.Salary increases after salary reviews also became more prevalent for Employment Trends Survey1All sectors have high expectations around the anticipated headcount growth at their Hong Kong operations in 2023,with the exception of financial services(flat)and real

17、 estate(decline).This reflects the expected economic recovery as Hong Kong has lifted its pandemic-related restrictions and the government continues to provide support measures to various sectors.In the tight employment market currently being experienced in Hong Kong,competition for talent will rema

18、in strong.This is also feeding through into high expectations of salary increases in 2023 for those industries that are showing the strongest intentions to increase their headcounts.Murray SareliusPartner,People Services,KPMG ChinaRegional Lead,Global Mobility Services,ASPAC 2023 KPMG,a Hong Kong(SA

19、R)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).respondents who stayed with their employers.The survey finds that salary

20、 expectations for 2023 will continue their upward trend.However,it is worth noting that bonus expectations are down on the previous year,which could be because respondents are mindful of the more challenging global economic climate and have adjusted their expectations.Attractive remuneration package

21、Remuneration remains the key motivation for those professionals considering a job move.Offering an attractive compensation package is important to attract and retain talent.Medical benefits are the most desired and commonly provided benefit.However,the survey finds that for other benefits most desir

22、ed by respondents(e.g.housing benefits and share-based awards),less than half were provided with such benefits.Flexible working is highly desirableIt is also worth highlighting that flexible work arrangements have increased in importance for professionals in Hong Kong.Close to three quarters(74%)of

23、survey respondents rated flexible working among their top five most important benefits.In contrast,just under half of respondents are offered flexible working options by their employers.This underlines that flexible work arrangements such as working from home have become the expectation in the post-

24、pandemic world although not yet consistently implemented by employers.Greater Bay Area opportunitiesThe further development of the Greater Bay Area(GBA)is expected to result in increased career opportunities,while allowing Hong Kong employers to tap into a wider talent pool.Among all respondents fro

25、m the Chinese Mainland and Hong Kong,nearly three-quarters(73%)indicate that they would consider relocating between different GBA cities or to the region to pursue job opportunities.Better career and industry prospects is the prime motivation to make such a move,while gaining broader work exposure a

26、nd achieving a higher income ranks second and third.Innovation and technology and financial services were perceived to be the industries that will generate the most jobs in the GBA over the coming years.Employment Trends Survey2In a tight employment market,organisations need to broaden the talent po

27、ols they access and engage with talent proactively.Talent shortages might be countered by hiring from outside traditional sectors or geographies,although salary and benefit offers need to be competitive with those target industries or locations.Businesses may also consider taking advantage of govern

28、ment visa initiatives such as the Top Talent Pass Scheme to engage with a wider group of talent building economic activity and career opportunities will be key to the success of these talent attraction programmes.Facing budget constraints and limited resources amid Hong Kongs recovery,companies must

29、 find out what types of compensation and benefits resonate the most with the staff and candidates they are looking to secure.Professionals are keen to explore career opportunities in the Greater Bay Area Hong Kong companies should consider leveraging the competitive strengths of other GBA cities.Key

30、 takeaways 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey3Sector highl

31、ights Recovery indicated by growth in headcount expectations.Higher salary and bonus expectations for 2023.Modest and steady expectations of both headcount and salary increases.change in trend compared to 2022 survey results High expectations of headcount increases,up 8 percentage points from the pr

32、evious year.Expects the highest salary increases in 2023.Remains the sector with the largest potential for job creation in GBA cities.Optimistic headcount expectationsIn-demand areas:revenue generators,operations,and IT Second and third lowest expectations of salary increases and expected headcount

33、increases,respectively.Achieved the highest increments in salary after job changes in 2022.Continues to rank second as industry with the most potential for job creation in the GBA.Deterioration in headcount growth expectations compared with 2022.Lowest and second lowest expectations,respectively,of

34、increases in salary and bonuses for 2023.Highest expectations for headcount growth in 2023 among all sectors.Second-highest expectations of salary increments in role.Expect headcount to increase at their Hong Kong operations in 20238%expected a decrease3%expected a decrease15%expected a decrease37%4

35、5%43%34%35%51%30%82%83%77%67%81%59%47%47%23%53%55%33%2.36months2.21months1.25months3.17months1.50months2.23months74%2.43 months44%Average bonus paid in 2022Expect a pay increase after salary review in 2023 Expect their bonus to increase year-on-year in 2023Consumer Markets Innovation and TechnologyP

36、ublic SectorFinancial ServicesProfessional ServicesReal Estate 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in

37、Hong Kong(SAR).Employment Trends Survey4This is the seventh annual KPMG Executive Salary Outlook.KPMG commissioned YouGov to conduct an online survey in which 1,327 business executives and professionals participated.Among these,645 respondents work in Hong Kong(SAR)or have a home base there and 682

38、respondents work or have a home base in the Chinese Mainland.Conducted between 3 and 15 January 2023,the survey sought professional perspectives on the employment market and career opportunities in Hong Kong,also taking into account their views on the opportunities offered by the Greater Bay Area(GB

39、A).The research covered areas including latest headcount expectations,salary outlook,and other talent trends.The views of respondents from the Chinese Mainland were only taken into account in this report for the section on the employment prospects of the GBA.It should be noted that after the survey

40、was being conducted,the reopening of the border between the Chinese Mainland and Hong Kong(SAR)was announced after three years of pandemic-related restrictions.This may have affected the degree of optimism observed in respondents that took the survey after this announcement.Respondents were drawn fr

41、om a variety of sectors,including consumer markets,financial services,innovation and technology,professional services,public services and real estate.Among the respondents,47%held leadership positions(23%C-level and 24%department head or equivalent)(Figure 1).Figure 1 Surveyed respondents(by seniori

42、ty)Base:All respondents in Hong Kong SARNote:Numbers may not add up to 100%due to roundingSource:KPMG survey analysisC-levelDepartment Head or equivalentManager or Senior ManagerAssistant Manager or below23%24%30%24%About the survey 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG

43、 global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey5 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation o

44、f independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey6Headcount outlook Talent market overviewHong Kong faced a challenging 2022,with GDP contracting by 3.5%.3 The de

45、cline was attributed to export weakness amid a weakening global economic situation,while private consumption was impacted by the fifth wave of the pandemic.Despite this backdrop,the recruitment market continued its upward trend from the previous year,while a number of sectors were impacted by a scar

46、city of talent available locally.The strength of the employment market is reflected in the expectations of hiring activity,with 37%of survey respondents indicating that they expect the headcount at their Hong Kong-based organisation to increase in 2023(up from 35%in the previous year).Optimism is ev

47、en higher among C-level and HR respondents,with 44%anticipating headcount increases at their Hong Kong operations(2022:40%).The latter group of respondents are expected to have a more accurate overview of their organisations hiring intentions.In terms of sectors,professional services,consumer market

48、s,and innovation and technology have the strongest hiring intentions.Real estate experienced the greatest deterioration in sentiment,but remained cautiously optimistic with 30%of respondents in this sector expecting headcount increases(Figure 2).For C-level respondents,hiring intentions were the str

49、ongest in consumer markets and innovation and technology.Figure 2 Respondents expecting headcount increases(by sector)Base:All respondents in Hong Kong SARSource:KPMG survey analysisConsumer marketsInnovation and technologyFinancial servicesProfessional servicesPublic sectorReal estateAll sectors202

50、3202245%35%43%51%34%33%30%40%37%35%44%35%28%39%2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).E

51、mployment Trends Survey7Professional services continues to lead the market in terms of expected headcount increases.Positive headcount expectations increased by 7 percentage points to 51%.Recruitment activity at Big Four firms remained strong in 2022,with teams advising on digital technology and Env

52、ironmental,Social and Governance(ESG)being a key focus.4 Innovation and technology experienced a strong increase in optimism,with a gross increase of 43%in respondents expecting to grow their headcounts at their Hong Kong operations.This sector is one of the Hong Kong SAR Governments key development

53、 areas,supported by recent initiatives including the recently announced HKD 3 billion investment in frontier technology fields such as artificial intelligence and quantum technology,and investment of HKD 6 billion for universities and research institutes to set up thematic research centres related t

54、o life and health technology.5 Consumer markets had been one of the worst affected sectors during the pandemic,having been hard-hit by the absence of visitors from outside Hong Kong.However,optimism is returning as the territory scrapped compulsory quarantine for incoming travellers in September 202

55、2 and re-opened the border with the Chinese Mainland in early 2023.6 The sector also looks set to benefit from government support to attract visitors,including investment totaling HKD 550 million for the organisation of mega events and the launch of the“Hello Hong Kong”campaign to promote the city t

56、o tourists.7 As the industry gears up for growth,nearly half of respondents from the consumer markets industry expect to increase their headcount in 2023.Financial services experienced a slight decline in hiring intentions,with certain segments,including corporate finance,private equity,and mergers

57、and acquisitions having been affected by volatility in the global financial markets and the associated slowdown in initial public offerings in Hong Kong.8 With several high profile international financial institutions having announced job cuts for 20239,it is perhaps not surprising that there was a

58、slight decline in the proportion of respondents expecting headcount increases compared with the previous year.Public sector recruitment activity remained solid during 2022 and attracting talent is a main priority.Particularly the education sector looks set to benefit from various initiatives announc

59、ed in the 2023-24 Budget,including subsidies of HKD 6 billion for universities and research institutes to set up thematic research centres focusing on areas such as life and health technology.10 Real estate has been impacted by a downturn,with residential sales down by 15.6%in 2022.11 This is contin

60、uing to impact hiring activity,with the proportion of respondents expecting a headcount increase at their Hong Kong operations down by 10 percentage points to 30%.Nevertheless,there is optimism that the property market will rebound in 2023 due to Chinese Mainlands reopening and the further relaxatio

61、n of Hong Kongs pandemic policies.12 Anticipated headcount growth in Hong Kong reflects the expected economic recovery,lifting of pandemic-related restrictions and government support measures.Competition for talent will remain strong.David SiewPartner,People Services,KPMG China 2023 KPMG,a Hong Kong

62、(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey8Headcount increases are focusing on revenue-

63、generating roles,operations and ITIn line with last years survey,the area with the highest expected headcount increases for the year ahead is for sales,fee earners and client relations which is to be expected in a more challenging economic climate when many businesses are focusing on maintaining the

64、ir revenues.Operations and IT followed in respectively second and third place,also similar to last year(Figure 3).Due to the digitalisation of customer-facing tasks and roles,a significant increase in headcount for operational staff would not have been expected.However,in-person engagement remains i

65、mportant in sectors such as consumer markets,public services and professional services,resulting in high demand to deliver services directly and locally to customers.In financial services,KPMG has also seen high demand for operational staff among Chinese Mainland banks in Hong Kong.These banks are c

66、ontinuing to expand their presence in Hong Kong,with key business areas including wealth management and private banking.As digital transformation continues apace across many sectors,and businesses digitise their internal processes and the ways in which they engage with customers,demand for IT staff

67、remains high.Alongside this,areas such as cybersecurity have risen up the corporate agenda and are requiring additional staff.An added challenge here is the shortage of technology talent in Hong Kong.13 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of indepe

68、ndent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey9Figure 3 Areas in which headcount increases are focusing on Base:C-level and HR respondents in Hong Kong SAR who are exp

69、ecting an increased headcount at their organisation in 2023Respondents were invited to choose more than one answerSource:KPMG survey analysisESG:Environmental,social and governance 59%Sales,fee earners and client relations35%IT37%Operations16%13%ESGHR11%11%Risk11%FinanceProduct9%InvestmentWe are con

70、tinuing to see strong demand for technology-related roles as companies continue to invest in digitalisation as a means of engaging with the younger generation of customers and improving operational efficiencies.In addition,the reopening of the border with the Chinese Mainland should see businesses i

71、n the consumer markets industry add resources to their retail outlets and local customer services ahead of the expected upswing in retail sales.Michelle HuiDirector,Executive Search and Recruitment,KPMG China Notable in this years survey is that expectations for additional staff in risk management a

72、nd compliance declined from 18%in 2022 to 11%in 2023.KPMG has noted that Hong Kongs current talent shortage has been particularly acute in areas including anti-money laundering and know-your-customer,financial risk management,and actuarial.14 However,these are also areas where financial institutions

73、 are increasingly turning to outsourcing to meet their needs,which could explain the reduced focus on this area in terms of headcount.In addition,there has been increased demand for outsourced operational staff provided by the professional services sector.2023 KPMG,a Hong Kong(SAR)partnership and a

74、member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey10In terms of seniority levels,the biggest drops in the proportion o

75、f job changers were among department head and equivalent and assistant manager or below levels(Figure 5).The lowest level of job changes in 2022 was seen among C-level respondents,followed by department heads.KPMG did observe,however,that certain senior moves started a chain reaction of moves within

76、 an industry.Job changes:slight reduction in activity in 2022Following a recovery in 2021,when 27%of survey respondents changed jobs as the economy bounced back from the initial impact of the COVID-19 pandemic,the employment market eased a little during the following year.Nearly a quarter(23%)of res

77、pondents changed jobs in 2022(Figure 4).Base:All respondents in Hong Kong SARSource:KPMG survey analysisFigure 4 Respondents that changed jobs(by year)2022202123%27%Salary outlook 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affi

78、liated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey11Base:All respondents in Hong Kong SARSource:KPMG survey analysis14%19%17%28%33%24%31%44%20222021Figure 5 Respondents that changed jobs(by seni

79、ority)Department Head or equivalentC-level or equivalentManager or Senior ManagerAssistant Manager or belowKPMG has seen more employers being cautious about recruiting candidates that have changed job in recent years.Similarly,candidates would prefer to settle down rather than adapt to a new environ

80、ment again.With many respondents in more junior roles having switched jobs in 2021 44%of assistant managers or below during that year there would have been a reduced pool of candidates seeking to change role from which employers could draw.As companies have been less inclined to make offers to candi

81、dates that have moved jobs relatively recently,the result has been a tighter talent market for Hong Kong.The lower turnover may also reflect the apparent success of companies retention strategies,with candidates happy to stay put after receiving a counter-offer or satisfied with their current role f

82、ollowing their salary review(see later in this chapter).2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Ko

83、ng(SAR).Employment Trends Survey12The highest salary increments in 2022 were achieved by C-level respondents and assistant managers or below the average pay rise after a job move being 30%for both these levels as compared to the overall average of 23%(Figure 7).In terms of sectors,respondents workin

84、g in financial services received the highest increments of 31%on average(Figure 8).KPMG has observed that employers in financial services had a strong preference for candidates equipped with specialist skills and those that have already worked with similar types of employers.Figure 7 Average salary

85、increment after changing jobs(by seniority)Base:All respondents in Hong Kong SAR that changed jobs in 2022 Source:KPMG survey analysisAverage:23%30%18%18%30%Department Head or equivalentC-level or equivalentManager or Senior ManagerAssistant Manager or belowFigure 6 Salary increment after changing j

86、obsBase:All respondents in Hong Kong SAR that changed jobs during the yearSource:KPMG survey analysisIncrease of 30%or moreIncrease of 20%to 29%Increase of 10%to 19%Increase of less than 10%or no changeDecrease2022202117%19%23%17%25%20%24%20%11%24%Expectations for salary increments when changing job

87、s remain high Salary increases after job changes remained at elevated levels in 2022,with the average increase amounting to 23%(2021:23%,2020:19%).While the number of respondents receiving increments of 30%or more dipped by 2 percentage compared to the previous year,all other increases below 30%were

88、 up across the board(Figure 6).Respondents that accepted a reduction in pay dropped to 11%in 2022(2021:24%).Average salary increment after changing job in 202223%2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG I

89、nternational Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey13Figure 8 Average salary increment after changing jobs(by sector)Base:All respondents in Hong Kong SAR that changed jobs in 2022 Source:KPMG survey analysisConsu

90、mer marketsInnovation and technologyFinancial servicesProfessional servicesPublic sectorReal estateOverall15%13%21%20%31%21%23%The higher salaries achieved after job changes in 2022 appear to have driven up expectations for 2023(Figure 9).According to the survey,there is a 4-percentage point increas

91、e in respondents expecting increases of 30%or more,while expected increases of 20%to 29%are up by 2 percentage points.This suggests that pressure on salary budgets will remain high in 2023,with companies needing to offer sizeable pay increases to attract the talent they require.Figure 9 Expected sal

92、ary change after job change Base:All respondents in Hong Kong SARSource:KPMG survey analysisIncrease of 30%or moreIncrease of 20%to 29%Increase of 10%to 19%Increase of less than 10%or no changeDecrease20232022 2%1%23%34%28%13%15%33%32%19%2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the

93、 KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey1450%Salary reviews increasingly used as part of retention strategySalary reviews were

94、 more common and more generous in 2022.During that year,73%of surveyed Hong Kong professionals that remained with their employer were rewarded with a pay increment(compared to 50%in 2021).The most common increase was in the 3%to 5%range,however one in five respondents(19%)secured a pay rise of 16%or

95、 more following their review(Figure 10).Wage inflation for all Hong Kong workers stood at 2.3%as at September 202215,indicating that pay rises have been noticeably higher for the mid-to-senior level professionals that took part in this survey.Figure 10 Salary change after salary reviewBase:All respo

96、ndents in Hong Kong SAR that stayed with the same employerNote:Numbers may not add up to 100%due to roundingSource:KPMG survey analysisIncrease of 16%or moreIncrease of 3%to 5%Increase of 10%to 15%Increase of less than 2%Increase of 6%to 9%No changeDecrease2022202119%7%12%9%6%4%28%19%8%11%26%45%5%2%

97、Respondents receiving a salary review73%20222021 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR)

98、.Employment Trends Survey15Broken down by level of seniority,it was the assistant managers or below and managers and senior managers that received the highest pay rises following their review,with respectively 46%and 34%awarded salary increments of 10%or more(Figure 11).KPMG believes this trend is d

99、ue to the relatively high proportion of professionals that changed jobs in recent years among these levels with a relatively high pay rise with companies using the salary review to retain existing staff and allow them to catch up with their pay to match market level.Universities have also confirmed

100、to KPMG that there has been a noticeable upward trend in starting salaries of graduates,which may have had a knock-on effect on salaries of existing employees.It can also be argued that the shortage of talent in Hong Kong is leading employers to use salary reviews or counter offers to retain their s

101、taff particularly among the experienced level where supply is tight with many accepting such offers rather than making a job move.Figure 11 Salary change of 10%or more after salary review in 2022(by seniority)Base:All respondents in Hong Kong SAR that stayed with the same employerSource:KPMG survey

102、analysis25%19%34%46%C-levelDepartment Head or equivalentManager or Senior ManagerAssistant Manager or belowWith employers seeking to retain staff receiving offers of other employment,and the need to maintain equity between recent hires and existing staff,we can expect to see continued upward pressur

103、e on remuneration levels.To manage costs while still retaining and acquiring the talent needed for the business,employers will need to be more targeted and creative with their compensation and overall employee value proposition.Murray Sarelius Partner,People Services,KPMG China Regional Lead,Global

104、Mobility Services,ASPAC 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey

105、16Slightly more generous bonuses in 2022 Overall there was a modest increase in the prevalence of short term incentive payments in 2022,with 73%receiving a bonus(2021:69%).In addition,employers were slightly more generous with their bonus payments:the average bonus payment received was the equivalen

106、t of 2.43 months of salary,up from 2.21 in 2021.However,this varies between sectors,with some of the industries with higher levels of bonus showing slight declines in 2022(Figure 12).In terms of sectors,there was a surge in the level of bonus payment in the consumer markets sector,which increased by

107、 just over 59%to 2.36 months in 2022.This industry would have benefitted from the easing of the COVID-19 situation as the year progressed,in addition to the consumption voucher scheme,which distributed HKD 10,000 to Hong Kong residents to spend on retail during the year.16 Financial services remaine

108、d the industry with the highest level of bonus pay-outs,but there was a decline to the equivalent of 3.17 months of salary in 2022.The more subdued IPO market and fewer corporate deals would likely have been contributing factors.17 Innovation and technology in second place at 2.21 months was also do

109、wn slightly amid the challenging economic climate.Bonuses in the real estate sector remained in their typical range of just over 2 months perhaps surprisingly given the lower level of activity in the Hong Kong real estate market during 2022.18 Bonus increase in consumer markets59%2023 KPMG,a Hong Ko

110、ng(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey17Most of the increases in bonus payments a

111、ppear to have gone to the more senior respondents C-level and department heads or equivalent reflecting improved business performance in 2021 when the Hong Kong economy rebounded following the initial waves of the pandemic.On the other hand,managers or senior managers and assistant managers and belo

112、w experienced a decline in their average bonus(Figure 13).Assistant managers in particular saw a reduction from 1.77 months of salary in 2021 to 1.04 in 2022.KPMG is of the view that this reflects the increases in base pay observed among junior positions,meaning a lower proportion of budget is avail

113、able for bonuses.The reduction in junior staff bonuses in 2022 can also be attributed to the high level of bonuses observed in 2021,suggesting a catch up of the total package with higher bonus payout in 2021 while the base salary is yet to reflect the market level.Figure 12 Bonus payment received as

114、 a multiple of monthly salary(by sector)Base:All respondents in Hong Kong SARSource:KPMG survey analysis2022202120202.362.431.482.211.83Consumer marketsReal estateAll sectors3.173.462.83Financial services2.212.512.392.16Innovation and technologyPublic sector1.251.080.751.021.072.232.011.501.47Profes

115、sional servicesC-levelDepartment Head or equivalentManager or Senior ManagerAssistant Manager or below202220212020Figure 13 Bonus payment received as a multiple of monthly salary(by seniority)Base:All respondents in Hong Kong SARSource:KPMG survey analysis3.722.582.392.273.222.051.911.770.881.671.81

116、.04 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey18Higher salary expe

117、ctations for 2023,but more moderate views on bonuses Respondents in Hong Kong are optimistic about their salary outlook,with 74%expecting an increase in salary in 2023,compared with 66%in the previous year.Despite a more challenging global-economic backdrop,the survey suggests that Hong Kongs reopen

118、ing and further relaxations of its anti-epidemic measures will provide a boost to the local economy,and as a result the salary levels of professionals.Equally,these views may reflect an expectation created by the positive outcomes of salary reviews seen in 2022(see previously in this chapter).The se

119、ctors that had the highest expectations regarding salary increases in 2023 were the innovation and technology sector(83%),consumer markets(82%)and professional services(81%)(Figure 14).These industries are either impacted by a shortage of talent or expected to be the beneficiary of the rebound in th

120、e Hong Kong economy both of which are expected to drive up the demand for staff and salaries.82%67%83%81%77%59%74%62%66%62%70%66%69%66%Figure 14 Respondents expecting a salary increase with existing employer(by sector)Base:All respondents in Hong Kong SARSource:KPMG survey analysis20232022Consumer m

121、arketsInnovation and technologyFinancial servicesProfessional servicesPublic sectorReal estateAll sectors 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited b

122、y guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey19Bonus expectations for 2023 have moderated slightly in this years survey,with 44%of respondents expecting an increase over the year ahead,compared with 48%last year.Bonuses are backward looking and usually reflect pe

123、rformance of the previous year.With the Hong Kong economy having contracted in 2022,respondents appear to be more conservative about their bonus for 2023.The percentage of C-level respondents expecting a decrease in bonus payment has doubled from 8%in 2022 to 16%in 2023.Figure 15 Expected bonus chan

124、ge with existing employer(C-level only)Bonus increaseBonus decreaseBase:All respondents in Hong Kong SARSource:KPMG survey analysis16%8%40%39%20232022As the unemployment rate in Hong Kong continues its downward trend,local supply of talent is expected to remain tight.Companies must find out what typ

125、es of compensation and benefits resonate the most with the staff and candidates they are looking to secure.Given the current conditions in the market,salary budgets are expected to remain under pressure either through increases of basic salary or through bonus payments.Michelle HuiDirector,Executive

126、 Search and Recruitment,KPMG China 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Tr

127、ends Survey20Talent shortages in Hong KongHong Kong has undergone a contraction in talent in recent years.The main reason for the shortage is the territorys declining birth rate19,coupled with an ageing population20.In addition,COVID-19 has been a contributing factor,as it has made it more difficult

128、 to attract talent from abroad.During this time,some professionals in Hong Kong have reassessed their career and life priorities and may have made a change to their career path,or exited from the profession in which they have worked.Lower immigration has also been a factor in Hong Kong,with the mand

129、atory quarantine that had been in place until September 2022 making it difficult to attract overseas talent to Hong Kong.Reflecting this,applications for work visas under the General Employment Policy have only been around 15,000 applications per year in 2021 and 2022,about a third of pre-pandemic l

130、evels.21 Against this backdrop,the Hong Kong SAR Governments Top Talent Pass Scheme which was announced in October 2022 is a welcome move.The scheme allows top talent meaning graduates from top overseas universities or those already achieving high incomes to work or establish a business in Hong Kong

131、,with close to 7,500 applications received within the first month of its launch.22 Furthermore,in February 2023 Chinas National Immigration Administration announced a multi-entry visa scheme allowing experts in six categories,including science and research,to freely travel across the Greater Bay Are

132、a.23 Talent management 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey2

133、1of respondents are considering job changes in the coming 6 months33%Understanding motivations of talent is critical for retentionIn Hong Kongs active employment market,retention has become a key focus for organisations.24 It has become critical to understand the motivations of talent,in particular

134、the reasons why talent may leave and take up employment elsewhere.In this years survey,the attractiveness of the salary and compensation package remained the key trigger to pursue a new job opportunity and was mentioned by just over three-quarters of respondents(77%).This was followed by career prog

135、ression and promotion in second place similar to last year(Figure 16).However,there are some differences to last years survey results that highlight some key trends.Figure 16 Drivers for seeking a new job opportunityBase:All respondents in Hong Kong SARRespondents were invited to choose more than on

136、e answerSource:KPMG survey analysis20232022Salary and compensation packageCareer progression and promotionWork flexibility and work-life balanceOrganisational cultureLearning and development opportunitiesJob securityRelationship with existing supervisor(s)77%71%48%32%44%18%20%23%55%39%28%21%16%16%20

137、23 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey22Against a backdrop of th

138、ree years of largely mandatory work from home or hybrid working,our survey suggests a loud call out from all employee groups to their employers that they continue to value flexible work arrangements as a new norm.Andrew WarneckHead of People and Change,KPMG ChinaIn last years survey,organisational c

139、ulture had been selected as a key motivation to find a new job opportunity by 44%and was seen to be particularly important for C-level executives.This year that percentage went down to 28%.These results could indicate that professionals have become more comfortable with the efforts put in by employe

140、rs in this area in 2022,when many companies doubled down on culture-shaping,employee wellness and employer branding activities as they faced resignations from employees and keen competition from peers.With the global economic picture having become more challenging from late 2022,it could also be the

141、 case that professionals are prioritising other issues over organisational culture.Work flexibility and work life balance moved up to become the third most important motivation to switch jobs.This suggests that as Hong Kong professionals adopted flexible working during COVID-19,they expect to contin

142、ue with these work practices now that the situation has improved.Evidence from the market suggests that some Hong Kong employers are still reluctant to fully embrace flexible working and have been keen to see staff return to the office.25 Flexibility and balance are therefore aspects that would allo

143、w an organisation to differentiate itself in the employment market or,if not offered,could contribute to higher employee turnover.Both job security and relationship with supervisors have decreased in importance as motivations to find new job opportunities.Again,this ties into the diminishing impact

144、of the pandemic,with respondents feeling more secure about the employment market and more comfortable about taking on the relative risk of finding a new position for a higher salary,better career prospects or an improved work-life balance.Learning and development opportunities have increased in impo

145、rtance,particularly among the C-level and assistant managers.This could be related to the increased availability of innovative learning options,as well as a desire to stay abreast of the latest technology and regulatory trends.2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG globa

146、l organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey23 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of ind

147、ependent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey24Compensation packaging is a way for employers to differentiate themselves and demonstrate a commitment to employee w

148、elfare,while helping to retain and attract much-needed talent.Gabriel HoDirector,People Services,KPMG ChinaCompensation and benefits As noted previously,remuneration is an important aspect for professionals.It has featured as the top motivation to consider a job move for six consecutive years in thi

149、s annual publication.26 Offering an attractive salary and benefits package is therefore a key strategy to attract and retain talent amid the current tight employment market.Figure 17 Benefits providedBase:All respondents in Hong Kong SAR with a full-time jobRespondents were invited to choose more th

150、an one answerSource:KPMG survey analysis53%86%49%45%37%35%22%13%12%11%Medical benefits for selfLife insurance coverage for family membersTransportation allowanceFlexible benefits arrangement Share options,share awards or long-term incentive awards Medical benefits for family membersFlexible work Emp

151、loyers additional(i.e.voluntary)contribution to retirement schemeLife insurance coverage for selfHousing benefits 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company l

152、imited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey25The most common benefits included in compensation packages remained medical benefits for self(86%)and medical benefits for family members(53%)(Figure 17).Both types of benefits showed a slight increase in pre

153、valence compared with the previous years survey and are considered among the most desirable benefits by professionals(Figure 18).Base:All respondents in Hong Kong SAR with a full-time jobRespondents were invited to choose more than one answerBenefits that were selected by less than 50%of respondents

154、 were not included in this analysisSource:KPMG survey analysis50%Employers additional voluntary contribution to retirement scheme53%Flexible benefits arrangement53%Share options,share awards or long-term incentive awards85%Medical benefits for self and/or family members59%Housing benefits74%Flexible

155、 workFigure 18 Most desired benefits 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment

156、Trends Survey26As noted previously in this chapter,Hong Kong professionals became accustomed to more flexible work arrangements,including working from home and flexible hours,by necessity during the pandemic.Around three-quarters of respondents ranked flexible work among their top five most importan

157、t benefits,yet only 49%of respondents stated that their organisation offers such arrangements.Housing benefits such as rental reimbursement or allowance,are only offered to 35%of respondents,whereas close to 60%consider this among the most desirable benefits.The tax treatment that may be afforded to

158、 such housing benefits make them an attractive benefit for professionals.This unique tax treatment remains relevant and in many cases will be preferential over the governments new deduction for domestic rental expenses,which is capped at HKD 100,000 per year starting from the 2022/23 tax year.Share

159、options,share awards and long-term incentive awards are still less common in Hong Kong(offered to 22%of respondents).However,around half(53%)of respondents consider it an important benefit.Those that do receive these benefits tend to hold senior positions and work in the innovation and technology,fi

160、nancial services and real estate sectors(Figures 19 and 20).Share schemes and similar initiatives can be designed and used to attract,incentivise,reward and retain talent and align the interest of participants with those of shareholders.Flexible work Figure 19 Inclusion of share options,share awards

161、 or long-term incentive awards in current compensation package(top three industries)74%49%Housing benefitsBase:All respondents in Hong Kong SAR with a full-time jobSource:KPMG survey analysis59%35%Share options,share awards or long-term incentive awards 53%22%ProvidedProvidedProvidedDesiredDesiredDe

162、sired35%28%23%Innovation and technologyFinancial servicesReal estate22%All sectors 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights

163、reserved.Printed in Hong Kong(SAR).Employment Trends Survey27Employers additional contributions to a retirement scheme can also be considered to boost retention,particularly since employees may not be able to receive(full)payment if they leave the organisation before a certain date.There are indicat

164、ions that Hong Kong may have an under-saving issue so additional pension contributions could also support the long-term financial wellbeing of employees.27 With the launch of Hong Kongs eMPF platform moving closer28,now is an opportune time for organisations to act on their pension arrangements.Pens

165、ions are under used in Hong Kong compared with much of the rest of the world.The provision of additional employer contributions to retirement schemes is a way to contribute to the long-term financial wellbeing of employees,while also building loyalty and boosting retention.Murray SareliusPartner,Peo

166、ple Services,KPMG ChinaRegional Lead,Global Mobility Services,ASPACCurrently included in compensation packageFigure 20 Importance of share options,share awards or long-term incentive awards in compensation package(senior levels)Base:All respondents in Hong Kong SAR with a full-time jobSource:KPMG su

167、rvey analysis22%53%35%68%25%60%C-levelC-levelDepartment Head or equivalentDepartment Head or equivalentRanked among “most important”benefits OverallOverallProvidedDesiredEmployers additional (i.e.voluntary)contribution to retirement scheme50%45%2023 KPMG,a Hong Kong(SAR)partnership and a member firm

168、 of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey28Government-initiatives will boost cross-border movement of labour The potenti

169、al of the employment market in the Greater Bay Area(GBA)has come sharper into focus over the last few years.With the Chinese Mainland having reopened its borders with Hong Kong in early 2023,following three years of travel restrictions,there is sense that developments in the region will start to acc

170、elerate.In that respect,there have recently been a number of government-led initiatives that should provide a clear boost to talent relocating across the region over the coming years.As noted previously in this report,the Hong Kong SAR Government launched the Top Talent Pass Scheme in October 2022,w

171、hich allows top talent to work or establish a business in Hong Kong.There has been strong interest in the scheme from the Chinese Mainland:two-thirds of the 11,000 applications received by February 2023 were from applicants living in the mainland.29 The Chinese Mainland has also taken steps to boost

172、 the cross-border exchange of talent through a new multi-entry visa scheme,allowing talented GBA professionals to freely enter Hong Kong and Macau.The categories of expertise include science,health and law,with the scheme expected to make it easier for Hong Kong to close the talent gap as it transit

173、ions into an innovation and technology hub.30When formulating their talent strategies,organisations in Hong Kong should take the recent new immigration policies into consideration.In a tight employment market,attracting talents from outside Hong Kong is now certainly among the range of options avail

174、able to Hong Kong-based companies.Greater Bay Area opportunities The Top Talent Pass Scheme provides an easier,faster way for overseas talent to come to Hong Kong without a sponsorship.It also gives Hong Kong employers better access to a broader overseas talent pool.Isabel LiuDirector,People Service

175、s,KPMG China 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey29Career pr

176、ospects remain an important draw when considering opportunities in GBA Respondents to the survey have positive views about the opportunities that the GBA currently offers.Among all respondents,nearly three-quarters(73%)indicate that they would consider relocating within GBA cities or to the region t

177、o pursue job opportunities.This indicates that there is broad-based agreement on the long-term career potential of the region.In terms of the motivations of professionals to consider relocating to other GBA cities or to move to the region if not already based there better career and industry prospec

178、ts comes out on top(78%),while gaining broader work exposure and achieving a higher income are in second and third place(Figure 21).Observations from the market by KPMG show that more talent from the Chinese Mainland are open to relocation to Hong Kong.Alongside the new immigration policies,there ar

179、e a number of other reasons why Hong Kong is seen as an attractive destination,including(but not limited to)family considerations such as education for children,personal career development and the ability to broaden their horizons.Figure 21 Top three motivations for working in GBA citiesBase:All res

180、pondents in the Chinese Mainland and Hong Kong SAR Respondents were invited to choose more than one answerSource:KPMG survey analysisBetter career and industry prospectsBroader work exposureHigher income78%63%63%73%willing to relocate for work within or to the Greater Bay Area 2023 KPMG,a Hong Kong(

181、SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey30Technology and financial services identified

182、 as key industries for jobsInnovation and technology(62%)and financial services(40%)were highlighted by respondents as the industries that are expected to create the most jobs in the GBA.Trade,supply chain,and logistics,was noted as the third key sector for job creation(Figure 22).In terms of reloca

183、tion to other GBA cities in the Chinese Mainland,it should be noted that candidates already working in Guangzhou or Shenzhen have a fairly low motivation to do so.It is generally the candidates with less than eight years of experience who are more open to changing location perhaps understandable as

184、this group will have fewer commitments tying them to a location and a greater desire to progress their career.Career prospects and higher incomes are key motivations for talent to consider relocation within the Greater Bay Area.Companies should have a mobility policy in place to encourage skilled pe

185、rsonnel to move and work in different cities.Subsidies may need to be offered to staff as incentives,including housing and transportation allowances and additional medical insurance.Kitty LuDirector,Executive Search and Recruitment,KPMG ChinaFigure 22 Industries in which the GBA is expected to creat

186、e the most job opportunitiesBase:All respondents in the Chinese Mainland and Hong Kong SARRespondents were invited to choose more than one answerSource:KPMG survey analysisInnovation and technology Financial servicesTrade/logistics/supply chainProfessional and consulting servicesHealthcare and life

187、sciences62%40%36%31%26%2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey3

188、1The GBA comprises cities with a wide range of industry strengths from financial services(Hong Kong)to technology(Shenzhen)and manufacturing/shared services centres(Guangzhou and Foshan).Organisations may want to capture business opportunities or benefit from cost savings by having operations in dif

189、ferent cities,while benefitting from talents who are interested in moving to the GBA area.Looking ahead,government policies will play a pivotal role in shaping the future development of the region and the willingness of professionals to consider relocating within the region.One of those initiatives

190、is the Nansha Masterplan,which calls for greater cooperation in the GBA between Guangdong,Hong Kong and Macao.In particular it seeks to transform Nansha a district located in Guangzhou into a local innovation and industrial transfer system that aims to become a preferred place to work and life for y

191、oung people in Hong Kong and Macao.As Nansha becomes a key hub to attract foreign capital,there are expected to be significant opportunities for Hong Kong professionals and businesses in the fields of R&D and foreign trade.31 Another key development is the increased interconnectivity between Guangzh

192、ou and Foshan,resulting in more companies relocating to Foshan to benefit from recent infrastructure improvements.At the same time,the city continues to advance its manufacturing capabilities as it shifts up the value chain into more advanced areas such as smart home appliances.Foshan is also managi

193、ng to attract shared services centres of multinational corporations.This has resulted in increased demand for talent,while professionals in Guangzhou have become more willing to work in Foshan due to the shorter commute times.2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global

194、 organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey32Tables of salary for key professionsThe pages that follow provide salary outlooks for a number o

195、f key professions in general corporate,consumer markets,financial services and real estate.The outlooks are based on a combination of market insights and the knowledge of KPMG consultants.The figures are in HKD and representative of salaries for 12 months,excluding bonuses.Salary tablesGeneral Corpo

196、rate 34363739Consumers MarketsFinancial Services Real Estate Company Secretarial Finance Human Resources and People Development Human Resources Learning and Development(L&D),Talent Development,Training and Development(T&D)Information Technology(IT)Internal Audit Investor Relations Legal Digital and

197、Marketing Retail Operations Asset Management Corporate Finance(Buy Side)Corporate Finance(Sell Side)Treasury Compliance and Risk Management Compliance General Compliance AML Risk Management Credit,Market,Operational Risk Management Information Technology(IT)Asset Management Leasing Property Manageme

198、nt 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey33General Corporate C

199、ompany SecretarialAssistant Company Secretarial Manager400K600KCompany Secretarial Manager550K900KSenior Company Secretarial Manager800K1.2MCompany Secretary 800K1.8MFinanceAssistant Manager 350K600KCash Management Manager600K900KFinancial Planning and Analysis Manager600K900KFinance Manager600K900K

200、Senior Finance Manager900K1.2MFinancial Controller1M2MTreasurer1M2MFinance Director1.3M3MChief Financial Officer1.3M5MHuman Resources and People DevelopmentHuman ResourcesAssistant Human Resources Manager360K550KManager,Talent Acquisition/Recruitment500K800KManager,Compensation and Benefits500K800KH

201、uman Resources Business Partner660K900KSenior Human Resources Manager800K1.2MHuman Resources Director1M1.5MHead of Human Resources,Hong Kong Headquarters1M1.8MLowHighLearning and Development(L&D),Talent Development,Training and Development(T&D)Learning and Development Assistant Manager360K550KLearni

202、ng and Development Manager500K800KTalent Management Manager500K800KSenior Manager800K1.2MDirector 1M1.5M 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by

203、 guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey34Information Technology(IT)IT Manager720K960KInfrastructure Manager/Network Engineer480k1.1MApplication Software Manager720K1.2MEnterprise Architect780K1.3MApplication Architect780K1.5MData Architect720K1.5MProject Man

204、ager/PMO840K1.56MSenior IT Manager840K1.56MHead of IT/IT Director1.3M2.2MCIO/CTO1.3M3MInternal AuditAssistant Internal Audit Manager350K690KInternal Audit Manager600K850KSenior Internal Audit Manager900K1.2MInternal Audit Director1.3M2.8MHead of Internal Audit1.3M2.8MInvestor Relations Investor Rela

205、tions Manager600K960KHead of Investor Relations 1.2M1.5MLegalLegal Manager(0-3 PQE)500K1MLegal Counsel(4+PQE)800K1.3MSenior Legal Counsel(8+PQE)1M2MGeneral Counsel(12+PQE)1.8M3MLowHigh 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms

206、 affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey35Consumers MarketsDigital and MarketingPublic Relations Manager 450K800KDigital Marketing Manager540K800KE-Commerce Manager540K800KSenior

207、Marketing Manager600K960KSenior Corporate Communications Manager600K960KSenior Digital Marketing Manager 600K1MDigital Marketing Director800K1.5MBrand Director 900K1.5MCorporate Communications Director 900K1.2ME-Commerce Director900K1.8MMarketing Director900K1.5MRetail OperationsSenior Operations Ma

208、nager500K900KOperations Director600K1.5MLowHigh 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).

209、Employment Trends Survey36Asset ManagementAssociate/Analyst400K800KVice President/Assistant Vice President650K1.2MResponsible Officer(Type 9)900K1.8MDirector/Executive Director1.15M2.07MManaging Director/Partner1.4M2.4MResponsible Officer(Type 9)(Public Fund)1.4M2.4MFinancial Services TreasuryMoney

210、Market Trader360K900KHead of Treasury Management1.8M3MCorporate Finance(Sell Side)Analyst/Associate240K480KSenior Associate/Assistant Vice President/Manager384K640KVice President/Senior Manager640K1.04MAssistant Director/SVP/Director720K1.6MExecutive Director800K1.6MManaging Director1.2M2MResponsibl

211、e Officer(Type 6)(IPO Principal)1.2M2MHead of Investment Banking Business 2M4MCorporate Finance(Buy Side)Associate/Analyst400K680KManager 600K850KSenior Manager800K1.2MDirector1M2MManaging Director/Chief Investment Officer1.5M3MLowHigh 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the K

212、PMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey37Compliance and Risk Management Compliance-GeneralAssistant Manager/Associate350K620KMa

213、nager/Assistant Vice President600K900KVice President900K1.3MDirector/Senior Vice President1.5M2.3MHead of Compliance/Chief Compliance Officer1.8M3MRisk Management-Information Technology(IT)Information Security and Cyber Risk Manager720K960KSenior Information Security and Cyber Risk Manager900K1.2MIn

214、formation Security and Cyber Risk Director1.08M2.2MRisk Management-Credit,Market,OperationalCredit Risk Vice President840K1.2MHead of Credit Risk1.5M2.3MMarket Risk Vice President840K1.2MHead of Market Risk1.5M2.3MOperational Risk Vice President720K1.4MHead of Operational Risk1.5M2.3MChief Risk Offi

215、cer 1.8M3MCompliance-AMLAML Manager/AVP600K900KAML Senior Manager/VP900K1.3MHead of AML1.5M2.3MLowHigh 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by g

216、uarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey38Real EstateLeasingLeasing Manager600K720KSenior Leasing Manager800K1.1MGeneral Manager1M1.6MLeasing Director1.5M3MProperty ManagementSenior Property Management Manager600K1.2MProperty Management Director900K1.8MAsset Ma

217、nagementManager,Asset Management800K1.5MDirector,Asset Management1.5M3MLowHigh 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights rese

218、rved.Printed in Hong Kong(SAR).Employment Trends Survey39 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong

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223、ech.html 11 Hong Kong home prices fell 15.6%in 2022,South China Morning Post,27 January 2023,https:/ Chinas reopening is set to boost Hong Kongs property market,CNBC,12 January 2023,https:/ Where are all the tech experts?Hong Kongs got plenty of jobs,but not enough talent,and employers are fed up,So

224、uth China Morning Post,29 November 2022,https:/ Hong Kong Banking Outlook 2023,KPMG China,January 2023,https:/ 15 Nominal Wage Indices,Census and Statistics Department,accessed on 16 February 2023,https:/www.censtatd.gov.hk/en/web_table.html?id=1916 Hong Kong Budget Summary 2022-2023,KPMG China,Febr

225、uary 2022,https:/ Chinese Mainland and Hong Kong IPO Markets:2022 review and 2023 outlook,KPMG China,8 December 2022,https:/ 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private Englis

226、h company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey4118 Property deals fall to 32-year low,The Standard,5 January 2023,https:/.hk/section-news/section/2/248708/Property-deals-fall-to-32-year-low19 Table 3:Vital Events,Census and Statistics Department

227、,accessed on 27 February 2023,https:/www.censtatd.gov.hk/en/web_table.html?id=3#20 Summary results of the 2021 Population Census and Year-end Population Estimate for 2021,Hong Kong SAR Government,28 February 2022,https:/www.info.gov.hk/gia/general/202202/28/P2022022800462.htm 21 DATA.GOV.HK,accessed

228、 on 13 February 2023,https:/data.gov.hk/en-data/dataset/hk-immd-set4-statistics-applications-approved-gep-industry-sector22 LCQ10:Top Talent Pass Scheme,Hong Kong SAR Government,8 February 2023,https:/www.info.gov.hk/gia/general/202302/08/P2023020800194.htm23 Bay Talent granted unlimited travel to H

229、ong Kong,Macau,The Standard,10 February 2023,https:/.hk/section-news/section/11/249707/Bay-talent-granted-unlimited-travel-to-Hong-Kong,-Macau24 Talent shortage key challenge for HR,HR Magazine,4 December 2022,https:/.hk/hr-news-archives/talent-shortage-key-challenge-for-hr/25 Hong Kong Private Weal

230、th Management Report 2022,KPMG China,20 October 2022,https:/ Hong Kong Executive Salary Outlook 2018-2022,KPMG China27 Hongkongers might only get a third of current incomes upon retirement,Manulife study shows,South China Morning Post,7 November 2022,https:/ Asset Management and Private Equity Outlo

231、ok 2023,KPMG China,31 January 2023,https:/ Hong Kong talent scheme:10,800 have signed up,with half being elite graduates worldwide and a sixth comprising top earners,South China Morning Post,15 February 2023,https:/ Bay Talent granted unlimited travel to Hong Kong,Macau,The Standard,10 February 2023

232、,https:/.hk/section-news/section/11/249707/Bay-talent-granted-unlimited-travel-to-Hong-Kong,-Macau31 The Nansha Masterplan:Objectives and Key Features,HKTDC,30 June 2022,https:/ 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affili

233、ated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey42About KPMG ChinaKPMG China has offices located in 31 cities with over 15,000 partners and staff,in Beijing,Changchun,Changsha,Chengdu,Chongqing,

234、Dalian,Dongguan,Foshan,Fuzhou,Guangzhou,Haikou,Hangzhou,Hefei,Jinan,Nanjing,Nantong,Ningbo,Qingdao,Shanghai,Shenyang,Shenzhen,Suzhou,Taiyuan,Tianjin,Wuhan,Wuxi,Xiamen,Xian,Zhengzhou,Hong Kong SAR and Macau SAR.Working collaboratively across all these offices,KPMG China can deploy experienced profess

235、ionals efficiently,wherever our client is located.KPMG is a global organisation of independent professional services firms providing Audit,Tax and Advisory services.KPMG is the brand under which the member firms of KPMG International Limited(“KPMG International”)operate and provide professional serv

236、ices.“KPMG”is used to refer to individual member firms within the KPMG organisation or to one or more member firms collectively.KPMG firms operate in 143 countries and territories with more than 265,000 partners and employees working in member firms around the world.Each KPMG firm is a legally disti

237、nct and separate entity and describes itself as such.Each KPMG member firm is responsible for its own obligations and liabilities.KPMG International Limited is a private English company limited by guarantee.KPMG International Limited and its related entities do not provide services to clients.In 199

238、2,KPMG became the first international accounting network to be granted a joint venture licence in the Chinese Mainland.KPMG was also the first among the Big Four in the Chinese Mainland to convert from a joint venture to a special general partnership,as of 1 August 2012.Additionally,the Hong Kong fi

239、rm can trace its origins to 1945.This early commitment to this market,together with an unwavering focus on quality,has been the foundation for accumulated industry experience,and is reflected in KPMGs appointment for multidisciplinary services(including audit,tax and advisory)by some of Chinas most

240、prestigious companies.2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey43

241、Key contactsMurray SareliusRegional Lead,Global Mobility Services,ASPACPartner,People ServicesKPMG China+852 3927 Michelle HuiDirector,Executive Search and RecruitmentKPMG China+852 2826 Angus Leung Director,Executive Search and RecruitmentKPMG China+8621 2212 Kitty LuDirector,Executive Search and R

242、ecruitmentKPMG China+8620 3813 David SiewPartner,People ServicesKPMG China+852 2143 Gabriel HoDirector,People ServicesKPMG China+852 3927 Isabel LiuDirector,People ServicesKPMG China+852 2913 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent membe

243、r firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey44View our latest alerts and thought leadership by scanning the QR code or visit our webpage:https:/home.kpmg/cn/en/home/services/ta

244、x/people-services.html*Legal service is provided by SF Lawyers,a member of the KPMG Global Legal Services networkFrom acquiring the right talent,mobilising talent across borders,through to designing reward policies and navigating the tax and legal complexities,KPMG People Services provides a wide ra

245、nge of services to organisations and individuals to support their strategic and operational business needs.People ServicesBusiness needsTalent acquisitionTaxWorkforce mobilisationImmigrationAttract and retainRecruitmentCompliance with lawsRewardLegal*Delivered through our specialismsIf you would lik

246、e to find out more about our services,please scan the QR code or visit our webpage:https:/ KPMG Private Enterprise advisers understand what is important to you.We have worked with many entrepreneurs and provided bespoke advice on the best way to handle a wide variety of issues.Whether you are lookin

247、g to start an innovative and fast-growing company or running an established one and looking for an exit,we can help you navigate any challenges you face from family business,to family office and private wealth,KPMG Private Enterprise has you covered.You gain access to KPMGs global resources through

248、a single point of contact a trusted adviser to your company.We provide a local touch with a global reach.Our team has extensive experience and expertise in:Family governance advisoryWealth structuringFamily office set up and implementationRisk advisoryPhilanthropyTax and immigrationPrivate Enterpris

249、e 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey45We are a business un

250、it of KPMG People Services with over 20 years of experience serving clients across a wide range of functions and industries.We are able to draw on the deep sector knowledge and professional expertise of KPMGs global network.Working alongside a professional group of advisors,we provide recruitment se

251、rvices as well as insights on the latest human resources and market developments across a variety of businesses and professions.For a list of available job opportunities and Personal Information Collection Statement,please scan the QR code or visit our webpage: success is measured by the amount of r

252、epeat business we receive and the career success of our candidates.A personal,long-term relationshipThis includes all aspects of the recruitment process,from advertising,executive database search to headhunting,tailored to meet our clients requirements.Our brand instils trust and confidence to facil

253、itate an engaging and smooth recruitment process.Executive Search and Recruitment ServicesWe offer our clients:A wide range of customised servicesA prestigious brand 2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KP

254、MG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).Employment Trends Survey46The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity.Although we

255、endeavour to provide accurate and timely information,there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future.No one should act upon such information without appropriate professional advice after a thorough examin

256、ation of the particular situation.2023 KPMG,a Hong Kong(SAR)partnership and a member firm of the KPMG global organisation of independent member firms affiliated with KPMG International Limited,a private English company limited by guarantee.All rights reserved.Printed in Hong Kong(SAR).The KPMG name and logo are trademarks used under license by the independent member firms of the KPMG global organisation.Publication number:HK-ER23-0001Publication date:March a list of KPMG China offices,please scan the QR code or visit our website:https:/