Proportion of employees receiving bonuses declines

Employees received an average bonus equal to 1.4 months' salary.

Fewer full-time employees in Hong Kong received bonuses and/or double pay in 2024, JobsDB reported.

The proportion of employees receiving bonuses and/or double pay decreased by 3 percentage points (pp) from 2023 to 73%.

The average bonus remained at 1.4 months' salary, consistent with the previous two years. Additionally, 30% of satisfied employees received bonuses ranging from 1.8 to 2.7 months' salary.

The industry with the most salary increments was Analytics (7.2%), followed by Legal/Compliance (+5%), Engineering (+4.9%), Information Technology and Hospitality/Tourism (+4.2%), and Food and Beverage (+2.2%). 

The proportion of employees receiving a salary raise also decreased by 4 percentage points compared to last year.

The Hospitality/Tourism sector recorded the highest percentage of employees receiving salary increments at 74%.

Overall compensation remained stable with a 3.2% average salary increase, slightly down from last year but above the 2% inflation rate in March. Meanwhile, 14% expect a salary reduction.

Due to external economic factors, 36% expressed pessimism in employment outlook and more expect a longer job search duration whilst the number considering resignation without a job lined up decreased.

In 2023, only 22% quit without securing another job, whilst 54% preferred to have a new job lined up before resigning.

Employees expressing uncertainty about job prospects also rose 36%, reflecting a 19% pp increase. 

In the next three months, 24% plan to change jobs whilst 29% choose to remain unchanged due to uncertainties.

Meanwhile, 48% still choose to stay at their current jobs despite acknowledging below-average salaries for reasons including “Plan to leave current job” (24%), “Difficulty in getting a new job and maintaining security in the new job due to social instability” (23%), and “Limited choices in the face of an economic downturn” (22%).

JobsDB surveyed 3,391 individuals in Hong Kong from February to March 2024.