HK sees decline in white-collar job vacancies in 2024

Only 55% of employers forecast a pay rise for employees in 2025.

Hong Kong has seen a notable decline in its white-collar job vacancies whilst the number of job applications surged by 122%, according to a Robert Walters survey.

The survey also found that only 55% of employers forecast a pay rise for employees, with 77% likely to give a 1%-5% salary increase to their employees in the next year.

The report showed positive signs of recovery as 15% of employers plan to increase their permanent headcount whilst 18% aim to expand their contract workforce.

Moreover, 25% of professionals do not plan to change jobs in 2025 underscored by 46% of professionals expressing a lack of confidence in job opportunities within their field.

Furthermore, there is a notable preference for middle-level hires with 31% of employers reporting a talent shortage at the senior associate level, followed by the manager level (25%), and senior managers and C-suite roles (25%)

Additionally, Hong Kong's initiatives to attract overseas talent are gaining traction as 53% of Mainland China professionals look forward to working in Hong Kong and are open to being employed as contract workers.