7 in 10 employees expect a year-end raise for 2018

More male employees are optimistic about a wage hike.

Amidst an improving domestic economy, seven in 10 (71.2%) Hong Kong employees are hoping for a raise at the end of 2018, according to Randstad Workmonitor.

Hong Kong employees are more optimistic about higher salaries than their Singapore counterparts (63.9%) but less confident than Malaysian employees (78.1%).

“Hong Kongers are also likely to expect a higher salary this year to match the increasing cost of living in this city. However, employees are also expecting this as part of a retention strategy due to the intense competition for talent,” said Natallie Sun, Managing Director of Randstad Hong Kong.

Male employees are more optimistic about a wage increase (70.5%) as opposed to the slightly smaller percentage (52.5%) of female employees who are more confident to receive larger pay checks.

Workers aged 35-54 are also more optimistic than their younger (18-34 years old) counterparts about a year-end pay rise.

In terms of bonuses, more than half (57%) of employees are expecting a one-time financial reward at the end of the fiscal year with men and those in the 18-34 age group expressing more optimism than their female and older counterparts.