The amount of salary that one earns or is expected to be paid is dependent on several factors. Some of the attributes that dictate the amount of salary that an individual expects to earn include the following: their expertise, position, level of experience, and the type of task assigned to the employee. If you are an upcoming or startup company, you should consider minimizing the total wages paid by hiring on short terms or contracts to reduce the expenditure. Besides, different careers pay their employees differently. Let us look at us have a look at some of the ways that different careers pay their employees.
Salary according to occupation
Further, as a potential employer, it is vital to note that the salary range in Hong Kong is equally dependent on the level of an individual’s education. This article is further going to summarize for you the salary range of various education levels and how much you are expected to compensate for the services you obtain.
Salary according to level of education
The workers who are holding a doctorate degree in Hong Kong are enjoying the highest salary averaging at 770,000 HKD as their gross income. On the other hand, those that are having below high school education earn the least. They make an average gross of 230,000 HKD,
which is 223.17% lower than what the Doctorate Degree holders’ pocket. The level of education is often proportionate to the position and job rank. However, an employee can still have managerial positions run by people who do not have high education levels. As long as the person has the necessary experience and skills, it is possible that they would give their best and still perform.
Salary according to experience
Experience goes hand in hand with the individual’s performance and general quality of work and output. Thus, the amount of salary that one gets is, to some extent, dependent on their level of experience on a specific job. Those who have over 20 years of experience will earn an average of 180,000 USD, between 16-20 years should pocket 113,000 USD, 12-16 yaers87,500 USD, 8-12 years 79,000 USD, 4-8 years 57,000 USD, 2-4 years 45,000 USD, and 1-2 years 42,000 USD.
Salary according to age
Another essential aspect that you are supposed to consider when you are about to hire an employee is their age. The table below summarizes the average salaries versus the age brackets of different employees in Hong Kong.
Again, when hiring employees, age is an important aspect and younger people tend to earn lesser compared to older ones. This is partly because of the experience they have and their positions within an organization.
Salary according to profession
Finally, the article is going to summarize the expected average salaries as per different fields of profession. Some fields pay more than others.
The data above are based on a small sample space and does not necessarily imply that all employees of different ages, professions, and education levels must earn the figures as mentioned earlier. As a potential employer, however, you should ensure that you are well equipped with labor laws before hiring employees for any given purpose or sector of the organizational management and operations. Equally, if you are an aspiring worker or employee in Hong Kong, you should also note that not all companies will be paying the stated figures as there are certain considerations and agreements when being hired in Hong Kong.
We at Paul Hype Page will always ensure that you get all the recent updates and guidance on how to hire your employees in Hong Kong. Whether you are about to run a starting company or already have an established one, we always get you back to allow you to obtain a return on your investment by guiding you on the Hong Kong salary scale and expert hiring.