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BIZCHINA / Biz Life
Hong Kong property pros best paid in Asia
By Louise Ho (China Daily HK Edition)
Updated: 2006-12-13 11:17
Hong Kong property professionals have the highest average salary in the
sector in Asia (minus Japan), a survey on current salaries and growth
trends has shown.
The 2006 Asia Salary and Benefits Survey is the first of its kind in the
region.
It was conducted by international professional organization Royal
Institution of Chartered Surveyors (RICS) and London-listed recruitment
consultants for property and construction Macdonald & Company.
RICS and Macdonald & Company have been conducting similar surveys in
Europe since 2000.
Hong Kong property professionals' average salary is US$81,700 a year and
their mainland counterparts earn US$77,200, with those in the rest of
Asia drawing US$70,700 a year.
Mainland professionals, however, get a far higher bonus (US$19,388 on an
average) than their Hong Kong brethren (US$7,371).
The survey interviewed 769 property professionals from more than 10 Asian
regions online in August and September this year.
The respondents' median age was 39.6 years and they had an average
experience of 12.7 years, with about 60 per cent of them working in
quantity surveying, project management and valuation.
Macdonald & Company's director of Asian Operations William Glover said:
"Hong Kong property professionals have significantly lower bonus than
their mainland counterparts because many respondents in Hong Kong work in
quantity surveying. The profession offers less rewards than other
sectors... such as financial services and investment.
"The mainland, on the other hand, has more development and investment
projects, so its property professionals enjoy higher bonus."
Hong Kong professionals may have the highest salary in the property
market today but their mainland brethren could overtake them next year.
The survey shows that the mainland has the highest average salary
increase, of 13.8 per cent, that is, twice the rate of Hong Kong's 6.3
per cent.
(For more biz stories, please visit Industry Updates)
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