Are You Getting Paid Fairly? How to Check Your Salary in Hong Kong

In today's competitive job market, it's crucial to ensure that you're getting paid fairly for your skills and experience. Whether you're considering a new job offer or negotiating a raise, knowing how your salary compares to industry standards can provide valuable leverage. Here's how to check if you're getting paid in line with your peers:

Use Salary Comparison Websites

Several online tools can help you compare your salary with others in similar roles.

The Hays Salary Checker is a comprehensive tool provided by Hays to help professionals and employers in Hong Kong compare salaries across various industries and job roles. It covers thousands of jobs in 15 different sectors and provides instant pay comparisons based on your exact job and location. By entering your salary details, you can see how your pay compares to the latest data from the Hays Salary Guide, including the highest, average, and lowest salaries for your role. This tool is valuable for negotiating pay reviews, planning career progression, and ensuring competitive compensation packages for attracting and retaining top talent.

You can also download their free Hays Annual Salary Guide which includes information on salary raises, bonus payouts, and hiring intentions, helping both job seekers and employers make informed decisions. The guide also highlights key trends, such as the impact of economic uncertainties and the importance of upskilling in response to technological advancements.

We also like the Morgan McKinley Salary Calculator, which reveals industry benchmarks for pay using data from thousands of placements. You can also immediately view recent job listings according to your role and title, in case you’re looking to make a change!

Check Job Listings

Browsing job listings on sites like Indeed, Monster, and LinkedIn can give you an idea of the salary ranges for positions similar to yours. Be sure to check industry-specific job boards for more accurate comparisons. Reviewing these listings can help you understand the going rates for your role and experience level.

Network with Peers

Engaging in conversations with colleagues and peers in your industry can provide valuable insights into salary ranges and help ensure you're being fairly compensated, but it requires a tactful approach.

Start by choosing the right time and place for the conversation, ideally a private setting where you won't be interrupted. Be transparent about your intentions, explaining why you want to discuss salaries and emphasizing that this conversation can benefit both parties.

Approach the topic with sensitivity and respect for your peer's boundaries. If they're uncomfortable sharing their salary information, respect their decision and thank them for considering the conversation. Lead by example and share your own salary information first, being honest and providing accurate details. This can make your peer feel more comfortable reciprocating.

Keep the conversation confidential to build trust and avoid workplace conflicts. Discuss factors influencing salaries, such as experience, education, job responsibilities, and location, to provide context and avoid misunderstandings. Use the information you gather constructively to make informed career decisions, whether it's negotiating a raise or seeking new opportunities.

Consult Recruiters

Recruitment agencies specialize in matching candidates with employers and have extensive knowledge of current salary trends. Reach out to recruiters who focus on your industry and ask for their insights on compensation. They can provide information on what others in similar roles are earning and help you negotiate a fair salary.

We’d encourage you to research typical salary ranges for the role in your industry and location before reaching out to recruiters, so you a benchmark to compare against.

When approaching the conversation with a recruiter, phrase your question in a way that shows you're serious about the role but also need to ensure it aligns with your financial needs. For example, "I'm very interested in this opportunity. Could you share the salary range for this position to ensure it aligns with my expectations?

You can also share your salary expectations based on your research and ask if the role fits within that range. For example, "Based on my experience and market research, I'm looking for a salary in the range of [your range]. Does this align with the budget for this role?”

If you’re in discussion with a recruiter and they’re unwilling or unable to share the budget or confirm salary expectations for a particular role, our advice would be to work with someone else! Recruiters who have good relationships with employers will know what the hiring budget is, and ultimately it’s in their best interest to get you the best possible package (after all, they’re paid by commission). Working with the right recruiters will save you time and effort when looking at your next career move.

Why it's Important To Check That You're Getting Paid Fairly

Ensuring that you are getting paid fairly is crucial for maintaining financial stability, career satisfaction, and professional growth. Fair compensation allows you to manage your finances effectively, save for the future, and invest in opportunities that enhance your career prospects.

Don’t shy away from having conversations about salary, or doing your research. Armed with this knowledge, you'll be better equipped to make informed career decisions and negotiate fair pay.