The HKMA announced its 2025 pay review, freezing fixed pay for the year starting April 2025 and implementing a 19.93% variable pay based on performance in 2024.
This article was generated using SAMS, an AI technology by Timothy Loh LLP.
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The Hong Kong Monetary Authority ("HKMA") has announced the results of the 2025 annual pay review, effective from April 2025. The review was conducted by the Governance Sub-Committee ("GSC") of the Exchange Fund Advisory Committee ("EFAC"). The GSC's recommendations have been approved by the Financial Secretary through EFAC.
The fixed pay for HKMA staff will remain frozen for the coming year, commencing April 2025. However, variable pay, amounting to 19.93% of total pay, will be awarded to staff based on their 2024 performance. This variable pay is a one-time bonus for individuals who have met or exceeded the performance criteria.
The Financial Secretary determines the annual pay adjustments for HKMA staff, taking into account the recommendations made by the GSC through EFAC, the GSC's evaluation of the HKMA's performance in the preceding year, findings from independent human resources consultants conducting a financial sector pay survey, and any other relevant factors.
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