- Home » Expat News » Expats in Hong Kong losing out on pay packages
Expats in Hong Kong losing out on pay packages
| Published: | 8 Sep at 12 PM |
Want to get involved?
Become a Featured Expat and take our interview.
Become a Local Expert and contribute articles.
Get in touch today!
Become a Local Expert and contribute articles.
Get in touch today!
Expats living in Hong Kong are getting paid less than their counterparts in Japan, South Korea and India, a management consulting company has claimed.
ECA International has revealed that the expats in middle manager positions receive an average salary of US$231,000 per year. In comparison, those in the same roles in Japan, South Korea and India get paid an average of US$374,000, US$242,213 and US$289,489 respectively. On a positive note for expats in Hong Kong, they are awarded a US$231,485 compensation package – the fourth largest in Asia.
The consultancy firm studied 17 Asian countries, and discovered that China only came 14th in terms of the overall package (US$165,113). The analysis reveals that the cash salary component of the overall packages in China and Hong Kong are among the region’s lowest.
But in China, unlike Hong Kong, the benefits component is relatively low, even in the main financial hubs. ECA’s Lee Quane said that compensation for international assignees in China does not vary much between the major cities, explaining that an expat worker based in Beijing is likely to receive a similar salary to someone in the same position in Chengdu. He added that a total package is usually made up of a cash salary, tax and benefits.
ECA International has revealed that the expats in middle manager positions receive an average salary of US$231,000 per year. In comparison, those in the same roles in Japan, South Korea and India get paid an average of US$374,000, US$242,213 and US$289,489 respectively. On a positive note for expats in Hong Kong, they are awarded a US$231,485 compensation package – the fourth largest in Asia.
The consultancy firm studied 17 Asian countries, and discovered that China only came 14th in terms of the overall package (US$165,113). The analysis reveals that the cash salary component of the overall packages in China and Hong Kong are among the region’s lowest.
But in China, unlike Hong Kong, the benefits component is relatively low, even in the main financial hubs. ECA’s Lee Quane said that compensation for international assignees in China does not vary much between the major cities, explaining that an expat worker based in Beijing is likely to receive a similar salary to someone in the same position in Chengdu. He added that a total package is usually made up of a cash salary, tax and benefits.
Comments » No published comments just yet for this article...
Feel free to have your say on this item. Go on... be the first!
