HKMA 2024 Pay Review

The Hong Kong Monetary Authority (HKMA) has announced the results of its 2024 annual pay review. The review was conducted by the Governance Sub-Committee (GSC) of the Exchange Fund Advisory Committee (EFAC) and approved by the Financial Secretary. As part of the pay adjustment, the Fixed Pay of HKMA staff will see a general increase of 2.1%. Additionally, a portion of Fixed Pay, amounting to 1.35%, will be allocated for rewarding high-performing employees. Furthermore, Variable Pay, which is a one-time payment based on individual performance, equivalent to 19.93% of Total Pay, will be given to staff based on their performance in 2023. The Financial Secretary determines the annual pay adjustment for HKMA staff by considering various factors. These include the recommendations made by the GSC through EFAC, the GSC’s assessment of the HKMA’s performance in the previous year, findings from independent human resources consultants’ pay surveys in the financial sector, and any other relevant factors Resources: https://www.hkma.gov.hk/eng/news-and-media/press-releases/2024/04/20240408-3/