Job Prospects in Hong Kong
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In-demand skills in Hong Kong have shifted from
engineering to commerce and services. Hong Kong is now the regional
center of many international banks, financial institutions and
corporations. These multinational corporations, particularly investment
banks continue to assign foreign nationals to their Hong Kong offices.
Many corporations construct and/or operate production facilities in
cities like Shanghai but conduct a lot of their business in Hong Kong.
However there has been a noticeable decrease in the number of Western
expatriates because of Hong Kong’s high cost of living, less attractive
compensation packages, and other factors.
On the other end of the scale, a huge chunk of the expatriate community
is composed of migrant domestic workers, most of them Filipinos,
followed by Indonesians and Thai. The presence of these domestic
workers make it possible for upper and middle class Hong Kong women to
work or engage in business outside the home and enjoy a comfortable if
not luxurious lifestyle.
Salaries and Benefits in Hong Kong
The working week is generally longer (48-50
hours) even for executives. The average annual salary of IT employees is
US$52,000. Western employees transferred to Hong Kong were usually given
an “ex-pat” package including such benefits as a housing or cost of
living allowance, transportation for annual vacations, dental and
medical insurance, and the like. However this is becoming the exception
rather than the rule, except for the banking industry.
Average monthly salary of supervisory and technical workers ranged from
HK$20,745 (data processing supervisor) to HK$13,265 (real estate
officer); HK$11,694 for accounting clerks to HK$8,642 for a shop
assistant; HK$12,000 for cooks to HK$7,000 for security guards.
Basic Data on Taxes in Hong Kong
An expatriate assigned to the city by his
company has to pay a salaries tax on “all income arising in or derived
from Hong Kong from an office or employment or any pension.” This
includes not only his salary but also benefits such as rent-free housing
or subsidies. Income earned outside the city is exempt from salaries
tax. If an expatriate has paid the equivalent of salaries tax to another
country, s/he is exempted from paying the salaries tax in Hong Kong.
High Demand Jobs in Hong Kong
2007 marks a stronger demand for IT talents in Hong Kong and the whole of Asia. Potential employees with relatively advanced skills are receiving many offers from various companies and their average IT annual salaries have reached almost US$52,000 . IT management jobs can fetch almost US$100,000, which is almost double the average salary for a management position. This is 86 percent higher than the overall average salary in the country.
Hong Kong has some of the highest wages for English teachers in Asia. Part-time teaching can bring $30-$50 per hour.
We Advice on Job Sources in Hong Kong
