Middle-manager-level expatriates in Hong Kong trail their counterparts in Japan and India in overall pay, a survey by human-resources consultant ECA International found.
Taking into account the whole package – not just take-home pay but also benefits that help cover taxes, housing costs, school fees and other living expenses – expats in Hong Kong see $249,814 a year on average, compared with $351,516 and $269,176, for those in Japan and India, respectively, according to ECA.
Accommodation, travel and education allowances are among the perks many companies use to entice their employees to move abroad, where the cost and quality of living might vary significantly from their countries of origin.
“With the war for talent that you generally see in Asia, there’s a much greater interest in issues such as compensation than in places like Europe and North America,” said Lee Quane, ECA’s regional director for Asia. He noted that lower level employees typically earn the same as local hires.
Middle-manager expats in Japan receive the highest net take-home pay in the region, banking an average of $98,000 annually. Expats who work at the same level in Hong Kong receive an average of $80,000, or about 18 percent less than their Japanese counterparts-good for 10th place, behind No. 9 Cambodia and No. 8 Pakistan. However, the ECA survey found that the benefits packages received by Hong Kong expats were the highest in the region, as companies need to take into account sky-high property prices and rising inflation.
“It is very important for an employee to take into consideration what their relative purchasing power would be at the end of the day,” Quade added. “What’s the total package? It’s worthwhile doing the research.”
Expats in mainland China, India and Vietnam receive the lowest net take-home pay of the 17 Asian countries included in the survey.
Approximately 250 companies operating in 119 countries in sectors from banking and finance to non-profit and manufacturing participated in the survey, providing information on the salaries of over 10,000 employees worldwide. -By Alexandra Wexler
Category: Hong Kong