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Banking Average Salaries in Hong Kong 2020

How much money does a person working in Banking make in Hong Kong?


Average Monthly Salary
40,400 HKD
( 485,000 HKD yearly)

LOW
12,500
HKD
AVERAGE
40,400
HKD
HIGH
81,700
HKD

A person working in Banking in Hong Kong typically earns around 40,400 HKD per month. Salaries range from 12,500 HKD (lowest average) to 81,700 HKD (highest average, actual maximum salary is higher).

This is the average monthly salary including housing, transport, and other benefits. Salaries vary drastically between different Banking careers. If you are interested in the salary of a particular job, see below for salaries for specific job titles.

Salaries for specific jobs

Job TitleAverage Salary
AML Analyst52,300 HKD
Assistant Bank Branch Manager43,700 HKD
Assistant Bank Manager58,800 HKD
ATM Manager49,500 HKD
ATM Service Technician13,600 HKD
Bank Accounts Analyst19,600 HKD
Bank Accounts Controller25,600 HKD
Bank Accounts Executive37,800 HKD
Bank Accounts Manager43,700 HKD
Bank Auditing Manager43,700 HKD
Bank Branch Manager59,800 HKD
Bank Clerk12,400 HKD
Bank Compliance Specialist33,900 HKD
Bank Manager75,900 HKD
Bank Operational Risk Manager69,900 HKD
Bank Operations Head78,000 HKD
Bank Operations Officer29,600 HKD
Bank Operations Specialist47,300 HKD
Bank Process Manager40,500 HKD
Bank Product Manager 49,500 HKD
Bank Programme Manager47,700 HKD
Bank Project Manager57,300 HKD
Bank Propositions Manager54,400 HKD
Bank Quantitative Analyst37,300 HKD
Bank Regional Manager74,200 HKD
Bank Regional Risk Officer39,700 HKD
Bank Relationship Manager54,200 HKD
Bank Relationship Officer24,900 HKD
Banker24,800 HKD
Banking Business Analyst38,700 HKD
Banking Business Development Officer25,000 HKD
Banking Business Planning Executive55,700 HKD
Banking Product Manager45,800 HKD
Banking Reference Data Manager40,400 HKD
Banking Risk Analyst36,900 HKD
Banking Technical Analyst20,800 HKD
Bankruptcy Coordinator28,000 HKD
Budget Analyst35,900 HKD
Cards Marketing Manager46,200 HKD
Cash Management Manager69,800 HKD
Check Processing Manager51,400 HKD
Commercial Vault Associate36,800 HKD
Corporate Dealer40,000 HKD
Credit Analyst30,600 HKD
Credit and Collections Manager53,000 HKD
Credit Card Fraud Investigator40,500 HKD
Credit Portfolio Manager68,200 HKD
Credit Risk Analyst42,900 HKD
Credit Risk Associate40,000 HKD
Direct Bank Sales Representative27,700 HKD
Financial Bank Planning Consultant50,400 HKD
Financial Banking Analysis Manager57,100 HKD
Financial Banking Assistant18,500 HKD
Financial Banking Systems Manager52,600 HKD
Foreign Exchange Manager56,100 HKD
Fraud Analyst38,700 HKD
Fraud Detection Associate27,700 HKD
Fraud Detection Manager61,300 HKD
Fraud Detection Supervisor33,300 HKD
Internal Bank Audit Manager69,100 HKD
Internal Bank Auditor36,700 HKD
International Banking Manager77,200 HKD
Loan Analyst36,800 HKD
Loan Area Manager45,300 HKD
Loan Audit Team Leader42,400 HKD
Loan Branch Manager41,900 HKD
Loan Business Development Officer22,500 HKD
Loan Clerk13,100 HKD
Loan Collection Manager44,200 HKD
Loan Collector12,000 HKD
Loan Examiner15,900 HKD
Loan Processing Manager39,200 HKD
Loan Processor16,300 HKD
Loan Quality Assurance Auditor40,500 HKD
Loan Quality Assurance Manager44,900 HKD
Loan Quality Assurance Representative29,800 HKD
Loan Review Manager44,900 HKD
Loan Team Leader40,000 HKD
Mortgage Advisor27,400 HKD
Mortgage Collection Manager46,100 HKD
Mortgage Collector12,800 HKD
Mortgage Credit Analyst20,800 HKD
Mortgage Credit Manager43,600 HKD
Mortgage Development Manager49,800 HKD
Mortgage Document Reviewer16,900 HKD
Mortgage Funding Manager50,000 HKD
Mortgage Operations Manager65,900 HKD
Mortgage Payment Processing Clerk14,500 HKD
Mortgage Processing Manager44,100 HKD
Mortgage Processor17,300 HKD
Mortgage Quality Assurance Auditor37,400 HKD
Mortgage Quality Assurance Manager42,700 HKD
Mortgage Servicing Clerk13,300 HKD
Mortgage Servicing Manager42,200 HKD
Mortgage Underwriter15,900 HKD
Online Banking Manager65,400 HKD
Payment Processing Clerk13,300 HKD
Personal Banker26,300 HKD
Personal Banking Advisor 28,700 HKD
Phone Banker18,200 HKD
Private Banker27,000 HKD
Reconciliation and Investigation Specialist30,800 HKD
Teller12,600 HKD
Trade Officer15,500 HKD
Trade Product Manager44,400 HKD
Trader18,500 HKD
Treasury Operations Officer35,400 HKD

Banking Jobs Salary Distribution in Hong Kong

Median and salary distribution monthly Hong Kong Banking
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The median, the maximum, the minimum, and the range

  • Salary Range

    Banking salaries in Hong Kong range from 12,500 HKD per month (minimum average salary) to 81,700 HKD per month (maximum average salary, actual maximum is higher).

  • Median Salary

    The median salary is 37,200 HKD per month, which means that half (50%) of people working in Banking are earning less than 37,200 HKD while the other half are earning more than 37,200 HKD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.

  • Percentiles

    Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of people working in Banking are earning less than 22,400 HKD while 75% of them are earning more than 22,400 HKD. Also from the diagram, 75% of people working in Banking are earning less than 54,700 HKD while 25% are earning more than 54,700 HKD.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary

Salary Comparison by Years of Experience

How does a person's salary progress over time?

Salary Comparison By Experience Level
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher the wage.

Generally speaking, employees having experience from two to five years earn on average 32% more than freshers and juniors across all industries and disciplines.

Professionals with experience of more than five years tend to earn on average 36% more than those with five years or less of work experience.


Change in salary based on experience varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of many different jobs. To view accurate figures, choose a specific job title.

As you hit the ten years mark, the salary increases by 21% and an additional 14% for those who have crossed the 15 years mark.

Those figures are presented as guidelines only. The numbers become more significant if you consider one job title at a time.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Salary Comparison By Education

How does the education level affect your salary?

Salary Comparison By Education
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It is well known that higher education equals a bigger salary, but how much more money can a degree add to your income? We compared the salaries of professionals at the same level but with different college degrees levels across many jobs, below are our findings.


Change in salary based on education varies drastically from one location to another and depends hugely on the career field as well. The data displayed here is the combined average of multiple jobs. To view accurate figures, choose a specific job title.

Workers with a certificate or diploma earn on average 17% more than their peers who only reached the high school level.

Employees who earned a Bachelor's Degree earn 24% more than those who only managed to attain a cerificate or diploma.

Professionals who attained a Master's Degree are awarded salaries that are 29% more than those with a Bachelor's Degree.

Finally, PhD holders earn 23% more than Master's Degree holders on average while doing the same job.


Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Hong Kong costs anywhere from 183,000 Hong Kong Dollar(s) to 549,000 Hong Kong Dollar(s) and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support this tactic. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

The decision really depends on your situation and experience among many other factors. Putting all variables aside, if you can afford the costs of higher education then the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.

Banking Salary Comparison By Gender

Salary comparison by gender monthly Hong Kong Banking
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male employees in Hong Kong who work in Banking earn 9% more than their female counterparts on average.

Female
38,500 HKD
Male+9%
41,800 HKD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Hong Kong for all Careers

Salary comparison by gender monthly Hong Kong
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Banking Average Annual Salary Increment Percentage in Hong Kong

How much are annual salary increments in Hong Kong for Banking professionals? How often do employees get salary raises?

Banking

Banking professionals in Hong Kong are likely to observe a salary increase of approximately 6% every 27 months. The national average annual increment for all professions combined is 4% granted to employees every 29 months.

Annual Salary Increment Rate Hong Kong Banking
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Hong Kong / All Professions

The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency

The average salary increase in one year (12 months) in Hong Kong is 2%.

Annual Increment Rate By Industry 2019

Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%

Listed above are the average annual increase rates for each industry in Hong Kong for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.


Worldwide Salary Raises: All Countries and All Jobs

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Banking Bonus and Incentive Rates in Hong Kong

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Hong Kong Banking
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Banking is considered to be a high bonus-based field due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.

44% of surveyed staff in Banking reported that they haven't received any bonuses or incentives in the previous year while 56% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 6% to 7% of their annual salary.

Received Bonus
56%
No Bonus
44%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Government vs Private Sector Salary Comparison

Public vs private sector salaries monthly Hong Kong
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Where can you get paid more, working for a private company or for the government? Public sector employees in Hong Kong earn 10% more than their private sector counterparts on average across all sectors.

Private Sector
35,500 HKD
Public Sector+10%
39,200 HKD
Percentage increase and decrease are relative to the previous value

Banking Hourly Average Wage in Hong Kong


230 HKD per hour

The average hourly wage (pay per hour) in Hong Kong is 230 HKD. This means that the average person in Hong Kong earns approximately 230 HKD for every worked hour.


Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )

The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

Banking VS Other Jobs

Salary Comparison Between Banking and Banking monthly Hong Kong
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The average salary for Banking is 10% more than that of All Jobs.

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