Bankers pay

Bankers' salaries under pressure in Hong Kong

Recruitment firm Astbury Marsden says bankers will have to moderate their expectations as the industry braces for tough times.

Pay rises for banking and financial services staff in Hong Kong averaged just 3% last year ended March 2011, which is more or less in line with inflation during the period. The average pay hike in 2010 was more than twice as high at 7%, according to recruitment firm Astbury Marsden.

The firm’s data shows that in 2011 the average annual salary excluding bonus for all staff working in banking and financial services rose to HK$218,000 $28,000, up from more than HK$212,000 in 2010. In 2009, the average annual salary was HK$198,000.

Senior investment banking staff in Hong Kong are likely to...

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