Hong Kong job market growth remains bullish

The IT sector generated the biggest demand this year.

While the Hong Kong job market posted conservative hiring levels at the beginning of the year, the city picked up pace and posted a strong growth that is likely to extend to 2018, according to Robert Walters salary survey.

This is driven by a boost in trade from mainland China and by higher visitor numbers that drive hospitality, retail and service industries.

The steady advance of technology and digitalisation has led to the a large demand for IT jobs across multiple industries, adding that those with niche skills set of DevOps, big data, cyber security and cloud will be highly sought after.

Salary increments in the IT sector are expected to rise by an average of 10-15% for permanent roles and 15-20% for contractors when changing jobs.

The financial services sector also performed well as banks with headcount freeze in previous years have increased staff levels, in particular front office investment banking jobs and IT.

Hong Kong employers especially in the financial services and human resources sector, also tend to adopt contract-based staff in an effort to balance cost-effectiveness and manpower shortage.

“We expect 2018 will present most employers in Hong Kong with a stable business environment. However, in a market with demand outstripping supply, attracting professionals of high calibre will require flexible hiring criteria and a sharper focus on an individual’s potential and cultural fit,” said Greater China Robert Walters managing director Matthew Bennett