IT job seekers in Hong Kong can expect a field day in 2007 due to soaring demand for qualified talent across sectors in the territory.
"We are experiencing an IT hiring boom reminiscent of the dot-com [period]," said Ellis Seder, manager of IT and telecommunications at Hudson Hong Kong, in an e-mail interview with ZDNet Asia. She noted that the job market in Hong Kong is at "fever pitch", and better qualified candidates are receiving multiple job offers.
Seder said: "2006 was healthy, but 2007 has started much stronger. [The period between] March [and] August this year will see a big turnover of IT staff across sectors."
According to the results of the IT salary survey conducted by ZDNet Asia last year, IT professionals in the territory are the highest-paid amongst the seven Asian countries surveyed--including Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore, and Thailand--with an average annual salary of HK$404,144 (US$51,964).
And those in IT management positions commanded the highest salary, at an average salary of HK$752,492 (US$96,754) per annum. This is 86 percent higher than the overall average salary in the country, said the report, which comprised of 174 responses from Hong Kong.
Results of the study also showed that, as expected, experience does matter. Respondents from Hong Kong with at least a decade's work experience earned nearly double the salary of those with less experience. The average annual salary of those with more than 10 years' experience is HK$622,235 (US$80,005). This is 96 percent higher than those with between five and 10 years' experience.
The best-paid IT jobs seem to reside in the Legal and Finance sector in Hong Kong, where the average annual salary is HK$516,048 (US$66,352). This is 28 percent higher than the overall industry average of HK$404,144 (US$51,964), said the survey.
Maneck Mohan, founder of Hong Kong-based job search engine company Recruit.net, noted in an e-mail interview with ZDNet Asia, that majority of the demand for IT workers in the country is driven by the booming financial services industry--which is typically a major hirer of IT talent during good times.
In addition, for the first time, banks in the territory are prepared to offer sign-on bonus incentives for mid-career level candidates, said Seder, adding that IT roles within the banking sector are growing.
Seder also noted that there is a shortage of specific banking technology skills, but added: "The days of hiring people for their IT skills alone are long gone. Candidates [now] need to have strong business and boardroom facing skills first, and IT skills second."
Key findings of ZDNet Asia's IT Salary Benchmark 2006 Survey
ZDNet Asia conducted a survey on the Internet between Aug. 25 and Nov. 6, 2006, to gain insights into Asia's IT workforce and salary trends. The survey drew 5,090 respondents from industry sectors such as government, healthcare, IT, services, telecommunications, legal and finance, across seven Asian countries: Hong Kong, India, Indonesia, Malaysia, Philippines, Singapore and Thailand.
Spotlight: Hong Kong
The survey drew 174 respondents across several IT positions, which are broadly categorized into IT management, project development and systems development.
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Average annual IT salary in Hong Kong
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