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The following is issued on behalf of the Pay Trend Survey Committee:
The Pay Trend Survey Committee met today (May 21) to consider the findings of the 2008 Pay Trend Survey.
The committee validated the survey findings which indicate that the following average pay adjustments have been awarded by the surveyed companies over the 12-month period from April 2, 2007 to April 1, 2008:
4.47% for the lower salary band (i.e. employees
earning below $14,990 per month);
5.87% for the middle salary band (i.e. employees
earning from $14,990 to $45,970 per month);
6.90% for the upper salary band (i.e. employees
earning from $45,971 to $91,765 per month).
The 2008 Pay Trend Survey was conducted by the Pay Survey and Research Unit of the Joint Secretariat for the Advisory Bodies on Civil Service and Judicial Salaries and Conditions of Service and based on an improved methodology as approved by the Chief Executive-in-Council in March 2007. Smaller companies were included in the survey field for the second year with a view to enhancing the representativeness and credibility of the survey.
The survey measured the pay trend in 97 private companies covering 141,289 employees over the 12-month period from April 2, 2007, to April 1, 2008. It took into account adjustments to basic salary and additional payments for employees of the surveyed companies relating to cost of living, changes in market rates, company performance, merit and in-scale increment, in accordance with the improved survey methodology.
A breakdown of the 97 surveyed companies by size is as follows:
No. of Companies
----------------
Larger companies 72 (74%)
(employing 100 or more staff)
Smaller companies 25 (26%)
(employing 50 - 99 staff) ---------------
Total : 97
The distribution of the survey population of 141,289 employees by the three salary bands is as follows:
No. of Employees
----------------
Lower Salary Band 72,477 (51%)
(below $14,990 per month)
Middle Salary Band 61,127 (43%)
($14,990 - $45,970 per month)
Upper Salary Band 7,685 (6%)
($45,971 - $91,765 per month) ---------------
Total : 141,289
The meeting today was chaired by Ms Virginia Choi, Chairperson of the Pay Trend Survey Committee and a Member of the Standing Commission on Civil Service Salaries and Conditions of Service.
In announcing the results, Ms Choi said, "These figures are the result of a survey of the pay trends in the private companies. Pay adjustment for the civil service is, however, a separate matter. The actual level of adjustment will have to be determined by the Administration in consultation with relevant parties having regard to an array of considerations."
Ms Choi expressed the committee's sincere appreciation for the co-operation and assistance rendered by the participating companies to the Pay Survey and Research Unit. The list of participating companies is at the Appendix.
Ends/Wednesday, May 21, 2008
Issued at HKT 15:10
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