Expats in Hong Kong on lower packages than counterparts in mainland China, study finds
Middle-managers based in city get fifth best pay and benefits packages in Asia-Pacific region, but Beijing and Shanghai are getting more lucrative
Hong Kong's expatriates have the fifth most-generous employment packages in the Asia-Pacific region, an annual study has shown, putting the city one place behind the mainland.
The typical expat middle-manager in the city received HK$2.1 million in pay and benefits, according to a survey of 320 multinational organisations and data for 10,000 staff collected by human resources consultancy ECA International last year. The total includes salaries, tax allowances and other benefits.
The total was down from HK$2.12 million in 2013, reflecting a fall of between 2 and 3 per cent in rents said Lee Quane, ECA's regional director for Asia. More companies had also chosen to bring expat pay in line with the salaries of local staff.
"The yuan has appreciated against the US dollar. Housing costs have increased 5 per cent year-on-year in Shanghai or Beijing," Quane explained. "It is also a challenge to attract talents due to the liveability issues, especially air pollution.
Not all Chinese cities were so expensive; if only second-tier cities were considered "mainland China would appear towards the bottom of the regional ranking".