The Hong Kong Monetary Authority has published the outcome of its 2025 annual pay review, confirming a freeze on fixed pay for staff from April 2025 and the payment of variable pay based on 2024 performance. Variable pay will be a one-off payment equivalent to 19.93% of total pay for staff who attained or exceeded the required level of performance. The review was conducted by the Governance Sub-Committee of the Exchange Fund Advisory Committee, with its recommendations approved by the Financial Secretary through the Exchange Fund Advisory Committee. The Financial Secretary sets HKMA staff pay adjustments each year, taking into account the Governance Sub-Committee’s recommendations, the HKMA’s performance in the preceding year, independent financial-sector pay-survey findings, and other relevant factors.
Hong Kong Monetary Authority 2025-04-03
Hong Kong Monetary Authority freezes staff fixed pay and awards 19.93% variable pay for 2024 performance
The Hong Kong Monetary Authority announced a freeze on fixed pay for staff from April 2025, with variable pay based on 2024 performance. Staff meeting or exceeding performance targets will receive a one-off payment equivalent to 19.93% of total pay. The decision, based on the Governance Sub-Committee's review, was approved by the Financial Secretary.