All industries across Hong Kong are anticipating a salary increase of 4% in 2025

Employers in various industries have expressed their intention to offer uniform salary increases to all employees, regardless of their position or level.

With the start of the new year, an optimistic outlook for projected salary increases in 2025 is anticipated in Hong Kong, according to Mercer’s 2024 Total Remuneration Survey.

Having surveyed more than 566 companies across various industries in the city – including technology, retail and wholesale, consumer goods, manufacturing, services, logistics, and others – it was found that all industries in Hong Kong are anticipating an overall salary increase of 4% in 2025.

Segmented by industries, companies in the technology industry are forecasting the highest increase to salaries at 4.2%. Other industries such as retail and wholesale, life sciences, and consumer goods are all forecasting increases of 4.0%, consistent with the overall market trend.

Encouragingly, employers in various industries have expressed their intention to offer uniform salary increases to all employees, regardless of their position or level.

Meanwhile, more than 50% of organisations plan to keep their current headcount this year, suggesting a stable employment environment along with moderate salary growth.

“As we approach 2025, the landscape for salary increases in Hong Kong is influenced by significant challenges in attracting and retaining talent,” said Gary Chin, Mercer’s Hong Kong Career Leader.

“With a limited talent pool and an uncertain economic environment, companies are reassessing their compensation strategies to remain competitive.

"This situation highlights the importance of aligning reward strategies with business objectives to cultivate a motivated and resilient workforce in these challenging times.”

Amidst both encouraging signs of a positive recovery of Hong Kong's economy and potential fluctuations in the global economic state, the survey also found that many organisations are proactively optimising their operational efficiencies to prioritise financial stability.