BUS News

The Centre for Human Resources Strategy and Development (CHRSD) of the HKBU School of Business released the results of the “Guangdong-Hong Kong-Macao Greater Bay Area Pay and Benefits Survey 2022” on 20 October, attracting over 200 HR professionals and reporters to the hybrid seminars held online and offline.

The survey was conducted between July and September 2022. For Hong Kong, questionnaire responses from 97 companies were received, covering 78,383 employees in Hong Kong. The respondents came from 11 business sectors, including: construction, education, engineering, hospitality & catering, information/communication & software technology, real estate & property management, retail, trading etc. The survey results suggest that the overall actual salary increase in Hong Kong for the period of July 2021 to June 2022 ranged from 3.4% to 3.7%. The projected salary increase for 2023 was 3.5% to 3.6%.

As for the Guangdong cities, a total of 131,002 employees from 158 organisations were covered in the survey. The results suggested that the overall actual salary increase in 2022 ranged from 6.6% to 7% for the same period, with the overall projected salary increase for 2023 at 5.7% to 6.1%.

Dr. Felix Yip, Associate Director of the Centre for Human Resources Strategy and Development, encouraged graduates to “not only look at the basic pay. If you start a career, you need to look for opportunities. If you work in a stagnant market, you will not learn that much. You will not gain value from it. So with your participation or involvement in a wider market like going to the Guangdong province and get some work experience there, then it will be helpful for you to make more sensible decisions particularly in business."

The survey has been an annual collaboration between HKBU and the Hong Kong People Management Association since 1995, aiming at providing employers and human resources professionals with the latest market trends on compensation and benefits in the region. This year the CHRSD also partnered with the Research Centre for Human Resources Management of South China University of Technology (SCUT) and Talent Development and Management Association of Guangdong to extend the coverage of the survey to the Greater Bay Area.