Hong Kong Retail executives in line for pay rise if they move
Hong Kong retail executives can expect an average increase of 10 per cent in salaries if they switch jobs this year, according to the Michael Page 2019 Salary Benchmark Report.
According to the recruiter, the number of job postings for retail and sourcing jobs during the past year has lifted by 20 per cent.
There was a notable demand for marketing roles, along with GMs, brand managers, retail operations managers, buyers and merchandising GMs. Trending skills include business strategists, people with “excellent operational experience” and for Hong Kong retail executives with experience in store expansion programs.
By sector, retailers in luxury watches and jewellery and food and beverage sales were among those most actively seeking staff.
According to the report, 70 per cent of job seekers have a favourable view of the current economic climate.
“The growth of retail, together with new F&B market entries, reflect an upswing in sentiment towards a healthy economy, all of which fuel hiring activity,” said Howard Chan, regional director at Michael Page
“However, though the fintech industry and start-up market are growing fast, the greatest demand for talent originates from traditional lead industries like property and construction and financial services as they race to keep up with the city’s economic opportunities.”
Data for the Michael Page Hong Kong Salary Benchmark 2019 report was derived from the company’s proprietary database capturing job advertisements and placements mainly through last year, and other PageGroup studies.