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Amidst a backdrop of macroeconomic uncertainties, industry shifts, and changing workplace dynamics, the business landscape in Hong Kong is poised for significant challenges and opportunities in 2024. Yet business leaders are rational optimistic about the 2024 Hong Kong market, according to 2024 PageGroup C-suite Confidence Insights. Companies adopt a growth-centric approach by scaling up businesses and maximising cost efficiency while emphasising the importance of a robust talent strategy.
The GBA stands as a vibrant hub of untapped potential, positioning Hong Kong's businesses ahead of the economy. The sectors at the forefront include Banking & Financial Services, Technology, FMCG, Healthcare & Life Sciences, and Industrial & Manufacturing. These industries, driven by innovation and technological advancement, are poised to lead the expansion into the GBA, showcasing the region's ability to attract diverse business interests.
Talent acquisition continues to be a key priority for companies across the spectrum in Hong Kong. Many are still willing to offer competitive salaries to ensure they hire candidates with the requisite knowledge and experience in their fields in what’s shaping up to be a tight labour market.
To help you make informed decisions on your next job search, we have compiled a list of the highest-paying jobs in Hong Kong, derived from our 2024 Page Insights Salary Guide.
While the list features senior roles, it will help job seekers at any point in their careers, even fresh graduates, identify the sectors that will offer competitive salary packages and hire aggressively in the coming months.
Note: Salaries on the list only refer to annual cash salary (unit: HKD), excluding non-cash compensation such as stocks, options, and equity. Salaries can differ from one company to another, depending on your skills, knowledge and experience.
A law firm partner can have very high annual income of HK 6 million.
A law firm partner is a lawyer who maintains partial ownership of the firm where they work. Partners in a law firm can have the same duties as many types of lawyers, such as meeting with clients and arguing cases in court. However, they also usually have additional responsibilities, such as hiring new associates and overseeing associates while they work on cases. Most law firms have a group of partners that can grow as more lawyers at the firm gain experience and receive promotion.
A law firm partner needs some key skills, such as leadership ability to oversee associates in a firm, decision-making skills to make important decisions about a firm’s operations and standards, and technical knowledge of the law so to argue cases.
Within the corporate hierarchy, the CEO role commands top compensation for its pivotal influence on growth and strategic direction. Our data consistently highlights CEOs as among the highest earners.
With the acceleration of digital transformation, CEOs in tech could make HK$500k more than CEOs in other industries annually. CEOs often play a crucial role in driving innovation and keeping up with technological advancements in the technology industry.
CEOs in consumer market are tasked with spotting opportunities, devising strategies, managing risks, optimising costs, and fostering team to improve performance and win market competitions.
Moreover, attracting and retaining top talent is crucial, underscoring CEOs’ comprehensive responsibilities in navigating their companies towards sustained success and competitive dominance.
Non-compliance can cost organisations anywhere from 14 million dollar to 40 million dollar. This statistic alone would be enough proof of the importance for companies to hire the role of Chief Compliance Officer.
The Chief Compliance Officer is one of the most important members of the management team, primarily responsible for overseeing compliance within an organization, and ensuring compliance with laws, regulatory requirements, policies and procedures.
Chief Compliance Officers can ensure the business is compliant, help identify and mitigate financial and non-financial risks, protect a companies’ reputation and bring a wealth of expertise in financial crime compliance, which are the foundations of a growing and healthy business. That may be the reason why a Chief Compliance Officer worth a high salary of HK 2.5 million.
Driven by growth opportunities related to the opening up of the Chinese Mainland’s asset management industry, the ongoing development of the GBA, advances in technology-enabled client experiences and ESG, the future of Hong Kong’s fund management industry remains positive.
A Country Head in fund management industry performs overall management of trust funds and fund management activities while being part of the senior operational management group, and performs overall management of the country staff. Leadership, strategic thinking and decision-making ability are must-to-have skills for a country head.
A chief information officer earns an annual income of HK$2.4 million.
CIOs are senior tech leaders who are both business and technically savvy. They are the key person in the organisation responsible for setting IT strategy, vision, and governance, whilst consistently looking for ways to improve internal business processes and efficiencies. They do not just need technical capabilities, but instead need to have an all-encompassing ability to drive the team to deliver business goals.
They usually work closely with vendors and service providers to find the best streamlined solutions to use within the company. As mentioned by Michael Page Hong Kong Director – Michelle J. Ma, “CIOs are usually the number one position within the company who reports directly to the CEO or Managing Director, or potentially the COO or CFO.”
As companies grow and face increased pressure from local competition, businesses must pinpoint novel growth avenues or pioneer secondary growth trajectories. Chief Investment Officers (CIOs) are essential in this strategic process.
Tasked with overseeing corporate capital investments and risk management, CIOs’ purview extends to making critical investment decisions, leading investment teams, refining investment portfolios, and mitigating risks.
The critical need for CIOs is to stay attuned to market dynamics and risk patterns, offering investment counsel to inform corporate decision-making. Beyond advising, their role is instrumental in architecting and executing company strategies, thereby driving organisational growth and adaptation.
The rapid adoption of digital technologies has given rise to increasingly complex cyber threats, making cybersecurity a critical priority for organizations worldwide. A Chief Information Security Officer, or CISO, is a senior-level executive who oversees an organization’s information, cyber, and technology security. The CISO’s responsibilities include developing, implementing, and enforcing security policies to protect critical data.
Organizations benefit from a CISO's broad view of security. This technology leader understands how various aspects of security relate to the IT systems, devices, and networks upon which the business operates and relies.
CISOs in Hong Kong need to navigate and comply with various cybersecurity regulations and standards. This includes ensuring compliance with the Hong Kong Personal Data (Privacy) Ordinance and other relevant regulations, as well as industry-specific requirements.
Cybercriminals are constantly developing new techniques and tactics to breach security defences, making it crucial for CISOs to stay updated on the latest threats and vulnerabilities.
A head of legal in an in-house counsel role can earn from HK$2 million annually.
This position involves leading and managing the legal team within an organisation. They are responsible for providing strategic advice, ensuring compliance with complex and evolving regulations, and navigating legal matters under board-level scrutiny while optimising legal spending.
The Chief Financial Officer (CFO) continues to rank among the highest-paid positions across corporate roles. The CFO is a company’s “God of Wealth” and is responsible for raising funds, managing funds, and other capital operation business. In recent years, the scope of the CFO’s role has significantly broadened, evolving beyond traditional finance to encompass strategic business analysis and decision-making.
As indispensable advisors and strategic analysts, CFOs are integral to the senior management team, embodying the credibility and leadership qualities essential for potential succession to the CEO position. The most lucrative CFO positions are typically found within publicly listed entities or firms poised to go public.
These executives boast a deep proficiency in capital market dynamics, a thorough understanding of regulatory requirements for public listings, and the ability to engage effectively with investors and stakeholders.
A chief commercial officer, also known as a chief business officer, oversees the implementation of sales or commercial strategies and objectives, defines the organization's commercial policies and ensures the company adheres to the annual budget. Typically, CCOs manage a large team, which can include the company's sales team but may also include the marketing, advertising and branding departments.
The role demands strategic acumen, resilience, and a deep understanding of the market. On top of that, Chief Commercial Officers are expected to keep one eye on the most recent promising technology breakthroughs, while reporting back to the company board how those can correlate with the company.
To get a comprehensive view of salaries and market benchmarks across various industries and roles in Hong Kong, download the full 2024 Salary Guide, which features the average salary of roles in Hong Kong's dynamic job market, or use our Salary Comparison Tool to see how your compensation compares to industry standards.
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