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According to the figures released today (October 28) by the Census and Statistics Department (C&SD), the average monthly salaries for middle-level managerial and professional employees for all the selected industry sections surveyed, as measured by the Nominal Salary Index (A), increased by 2.5% in June 2010 compared with a year earlier.
After discounting the increase in consumer prices as measured by the Consumer Price Index (C), the Real Salary Index (A) increased by 0.1% in June 2010 compared with a year earlier.
Analysed by industry section and on a year-on-year comparison in nominal terms, the average monthly salaries for middle-level managerial and professional employees increased in all the individual industry sections in June 2010, ranging from 1.1% to 3.4%.
After discounting the increase in consumer prices, the Real Salary Index (A) increased in building and construction and related trades; and financial and insurance activities, by 1.0% and 0.9% respectively. As for manufacturing, electricity and gas supply; and import/export, wholesale and retail trades, decreases of 1.2% and 0.5% respectively were registered. Virtually no change was recorded for transportation, storage, communications and travel agencies.
The Salary Index (A) measures changes in salary rates for all middle-level managerial and professional employees of the companies covered by the survey. Another index, the Salary Index (B), which excludes newly recruited and promoted employees and covers only those middle-level managerial and professional employees remaining in the same occupation and in the same company in two consecutive years, is also compiled. Its main purpose is to measure salary changes due to general increment, meritorious performance and gain in seniority.
Comparing June 2010 with June 2009, the overall Salary Index (B) increased by 3.2% in nominal terms or 0.8% in real terms. The different movement between the Salary Index (A) and the Salary Index (B) was mainly attributable to the lower pay generally received by new recruits (included only in Salary Index (A) but not in Salary Index (B)) as compared with existing employees. Hence, in general, increases in Salary Index (B) are usually greater than the corresponding increases in Salary Index (A).
Statistics on the year-on-year percentage changes in the Nominal Salary Index (A), Real Salary Index (A), Nominal Salary Index (B) and Real Salary Index (B) for June 2010 in respect of the selected industry sections covered are shown in the tables attached.
The survey findings also showed that 74% of the employees were entitled to profit-sharing bonuses and 21% were entitled to housing benefits of some kind in 2010, higher than the corresponding figures of 72% and 18% in 2009. The proportion of employees entitled to guaranteed year-end extra pay was 50%, which was lower than the corresponding figure of 52% in 2009.
The salary indices are compiled annually based on the results of the Survey of Salaries and Employee Benefits - Managerial and Professional Employee (Excluding Top Management). This statistical survey has been conducted by the C&SD since 1984 to measure changes in salary rates for middle-level managerial and professional employees. A sample of about 260 companies was selected for the survey in 2010.
For the purpose of the survey, salary rate is defined to include basic salaries, cost-of-living allowance, guaranteed year-end extra pay, commission and tips, as well as other guaranteed and regular bonuses and allowances.
Furthermore, industries covered in the statistical survey are classified according to the "Hong Kong Standard Industrial Classification (HSIC)". Upon implementation of the new Hong Kong Standard Industrial Classification Version 2.0 (HSIC V2.0) by the C&SD in October 2008, the survey has been enhanced to adopt HSIC V2.0, in place of HSIC V1.1, in classifying the industries of surveyed establishments. All the salary statistics from June 2009 onwards have been compiled based on HSIC V2.0. The series of salary indices under HSIC V2.0 has also been backcasted to June 2004.
Details of the salary movement, average salary rate for major occupations, and statistics on employees' entitlement to various fringe benefits, together with a description of the survey methodology, are published in the 2010 Report of Salaries and Employee Benefits Statistics - Managerial and Professional Employees (Excluding Top Management). Users can download this publication free of charge at the website of the C&SD (www.censtatd.gov.hk/products_and_services/products/publications/index.jsp).
Print version of this publication is available for sale at HK$45 per issue. Purchase can be done in person at the Publications Unit of the C&SD (Address: 19/F Wanchai Tower, 12 Harbour Road, Wan Chai; Tel.: 2582 3025) or through mail order by returning a completed order form which can be downloaded from the C&SD's website (www.censtatd.gov.hk/products_and_services/other_services/provision_of_stat/mail_ordering_of_publications/index.jsp). Print version of this publication is also available for sale online at the Government Bookstore of the Information Services Department (www.bookstore.gov.hk).
Enquiries concerning the Salary Indices can be directed to the Wages and Labour Costs Statistics Section (2) of the Census and Statistics Department at 2887 5230.
Ends/Thursday, October 28, 2010
Issued at HKT 16:31
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