Discover your dream Career
For Recruiters

Hong Kong vs. Singapore: Where do bankers earn the most?

Harsh covid restrictions may have raised questions about Hong Kong’s future as a financial centre, but on one important measure it still leads the way – Hong Kong’s banking and finance professionals earn considerably more than their counterparts elsewhere in Asia.

Some expats have relocated to Singapore, but it trails Hong Kong in terms of compensation. But bigger pay packages also come at a cost, with Hong Kong finance professionals working longer hours and women face more discrimination on pay.

These are some of the key findings in the inaugural eFinancialCareers APAC salary and bonus survey, which polled almost 600 people working in finance in Hong Kong and Singapore and provides insights into compensation and working hours across all levels of seniority and experience.

In Hong Kong finance professionals earn 88% more in salary and 4% more in bonus than in Singapore, with total compensation 55% higher in Hong Kong

Finance professionals in Hong Kong earn average total compensation of US$293k, while counterparts in Singapore are paid US$193k.

While Hong Kong-based professionals earn more, this comes at a cost. In our survey, they work an average of 4 hours a week more than their counterparts in Singapore.

Gender pay discrimination is a big problem in both locations, but in Hong Kong, the pay gap between men and women is bigger. In Hong Kong, average female pay is $128k and men are paid 64% more than their female colleagues. In Singapore, women earn an average of $116k or half the amount they earn in Hong Kong.

Click here to access the full report for an in-depth picture on pay for finance professionals in both locations.

Click here to create a profile on eFinancialCareers. Make yourself visible to recruiters hiring for top jobs in technology and finance. 

Have a confidential story, tip, or comment you’d like to share? Contact: sbutcher@efinancialcareers.com in the first instance. Whatsapp/Signal/Telegram also available (Telegram: @SarahButcher)

Bear with us if you leave a comment at the bottom of this article: all our comments are moderated by human beings. Sometimes these humans might be asleep, or away from their desks, so it may take a while for your comment to appear. Eventually it will – unless it’s offensive or libelous (in which case it won’t.)

Photo by Tobi on Unsplash

author-card-avatar
AUTHORDavid Rothnie Insider Comment

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.

Boost your career

Find thousands of job opportunities by signing up to eFinancialCareers today.
Recommended Articles
Recommended Jobs
Charterhouse Partnership Singapore
ED - Head of managed Investments - Private bank
Charterhouse Partnership Singapore
Singapore
Bo Le Leaders Ltd
Healthcare Private Equity Investment
Bo Le Leaders Ltd
Hong Kong
Global Sage Hong Kong
Family Office Investment Associate/Manager
Global Sage Hong Kong
Hong Kong
Options Group
Senior Investment Advisor
Options Group
Singapore

Sign up to Morning Coffee!

Coffee mug

The essential daily roundup of news and analysis read by everyone from senior bankers and traders to new recruits.