Hong Kong bankers to see 15% to 20% salary hikes next year

But middle and back-office recruitment is expected to focus on replacing existing roles.

Hong Kong’s banking sector front-office professionals moving to new employers can expect salary increases of 15% to 20% in 2025, Randstad Hong Kong’s latest report revealed.

In contrast, middle and back-office recruitment in 2025 is expected to focus on replacing existing roles, with no significant growth in headcount, Randstad’s 2025 Market Outlook & Salary Guide Report showed.

Companies, having completed offshoring restructurings, are operating with leaner teams and will prioritise operational efficiency, particularly in credit and enterprise risk roles, which are critical for managing loan volumes and compliance with regulations.

Whilst some areas, such as offshoring and divestments, will lead to lower hiring activity, there are key sectors where demand for talent remains strong.

Corporate and transaction banks are slowing down, with employers becoming more selective and taking longer to approve new hires. 

At the same time, many senior professionals from investment banks are entering the job market due to global restructuring. Chinese investment banks are maintaining a strong presence in Hong Kong, focusing on retaining their talent. 

Despite a quieter front-office hiring environment, private banks and wealth management firms are seeing active talent movement. 

This is driven by initiatives like the New Capital Investment Entrant Scheme, which aims to attract high-net-worth individuals and family offices to Hong Kong, alongside the “Impact Link” programme that connects philanthropic efforts with charitable projects. These efforts position Hong Kong as an attractive hub for global family offices and asset owners.

In private banking and wealth management, there is a noticeable shift in roles, with Relationship Managers moving to family offices. 

Demand for Assistant Relationship Managers is also growing, and these professionals can expect better remuneration packages in 2025. 

However, employers are raising their expectations, seeking candidates with established client networks who can deliver results quickly. 

As a result, some candidates may be hesitant to explore new job opportunities, even if they have the required experience and skills.

For front-office roles, traders and portfolio managers are increasingly expected to have programming skills to manage risk and trade management platforms, along with expertise in data analytics and data visualisation tools. 

In compliance, cryptocurrency and digital asset firms are expected to increase hiring for senior compliance officers to manage licensing applications and regulatory approvals. Talent demand in anti-money laundering roles will also remain high, particularly for positions focused on fraud and sanctions. 

The need for Know-Your-Customer (KYC) professionals is anticipated to continue growing, especially as private banking and wealth management sectors expand. 

As recruitment focuses on specialised roles in compliance, risk management, and regulatory reporting, employers are looking for candidates with expertise in Financial Reporting Review (FRR) and Securities and Futures Commission (SFC) reporting.