Workers should get 2.8pc pay rise in 2026: survey

A recent survey conducted by the Hong Kong Institute of Human Resource Management suggests that workers in the city should anticipate an average pay rise of 2.8 percent in 2026, slightly above the 2.7 percent increase observed in 2025. The survey, which examined 173 companies across 12 sectors employing over 180,000 full-time staff, depicted a cautious approach from businesses when planning salary hikes.

Lawrence Hung, the past president and executive council member of the institute, expressed that a 2.8 percent pay increase represented a prudent strategy. He noted that companies would take into account the economic climate, internal operations, and the need to attract, retain, and develop their workforce. According to Hung, enterprises were open to offering higher wages to core talent with specialized skills that could benefit their organizations.

The researchers behind the survey projected that the average pay increase for 2027 would be 2.9 percent. While 44 percent of surveyed companies intended to implement salary adjustments, 56 percent had not yet made a decision. Hung emphasized that retention strategies should not be solely dependent on pay raises, as salary budgets are likely to remain limited.

He advocated for a comprehensive approach that includes skill development, improved benefits, and family-friendly policies to retain talent. In contrast, the survey indicated that the average pay rise in Macao was projected to be 2.8 percent this year, while cities within the Greater Bay Area saw an average increase of 4.2 percent.