Salary Survey (Hong Kong) - 2022

SALARY SURVEY | 2022
HONG KONG
SD LEGAL - WHO WE ARE WHAT MAKES US DIFFERENT?

SD Legal is a search firm focused on the legal recruitment Nathan Smith is a highly trained and experienced In-House Legal & Compliance Recruiter, based in Asia
sector. The team at SD Legal have over 25 years of for over 15 years and covering key markets across the APAC region.
experience covering key hubs such as Hong Kong,
Singapore, Shanghai and Beijing. Nathan has a number of exclusive client relationships, centered around MNC’s, SME’s, Funds and Family
offices. This network is built on foundations of successful hiring and industry recommendations, please
Our goal is to provide candidates with 'real time' job click here for more details.
opportunities from across the region; and to give hiring
managers access to a candidate pool that is unrivaled in The SD Legal database has a number of exclusive relationships with lawyers from across the region, as
depth and reach. well as being a first port of call for lawyers looking to move and/or return to Asia. What makes this
database different is the weekly contact made by Nathan to each member, allowing hiring managers to
access lawyers who are perhaps not actively searching for a new role, but ‘open’ to exciting opportunities.
Positions we can assist with include: General Counsel, Legal Director, Legal & Regional Counsel
Other niche areas include: Compliance, Regulatory, Data Privacy, Employment & IP Lawyers
Nathan Smith | Managing Director
T: +852 3752 0529 | M: +852 6508 2202

E: nathan.smith@sdlegal-asia.com
W: www.sdlegal-asia.com
MARKET UPDATE (2021/2022)
On the surface, Hong Kong had a solid 2021 with a number of standout statistics:
• 6% GDP increase Y.o.Y
• Unemployment below 4% (7.2% at the start of 2021)
• 92 (26 in 2020) new listings on the HKEX, raising over 300 Billion HKD SKILLSET TRENDS
COVID APPROACH Languages
With a ‘zero case’ policy approach to Covid, Hong Kong has been able to contain the spread of the Through 2021 we witnessed a number of hires made for lawyers with English only language skills, however
virus and as a result, keep businesses operating across the city. Even sectors such as hospitality and over 80% of them were made at 8 years PQE and below. We expect the downward trend of senior hires with
retail have enjoyed a year of increasing occupancy levels and sales revenue. The outcome, we have only English as a language skillset requirement to continue.
not seen furlough schemes introduced nor have we heard of redundancies across any specific sector Technical
(legal teams). Product development (Payments / SaaS / Blockchain) and cross-border regulatory transaction experience are
SALARY CATCH-UP areas operating in high demand but with low supply of suitable lawyers in Hong Kong.
During the height of the pandemic it was not unusual to see firms issuing pay reductions (usually Culture
around 20%) and withholding bonuses as a temporary measure to ensure operational continuity and Technology (software / blockchain / crypto) and investment firms focused on digital assets require two key
to reduce the risk of enforcing redundancies. We estimate that in 2021, some sectors were still paying things. Firstly, any lawyer joining the team needs to be of a mindset that his/her risk tolerance should be a
15% less (Y.o.Y).
lot higher when compared to joining a traditional in-house team from a perceived stable MNC environment.
As we move through 2022, firms from many of the hardest hit sectors have made up shortfalls in salary Secondly, education and understanding on both sides of the hiring line is required to ensure onboarding
levels with backdated pay and increased bonus pools. As Hong Kong eases border controls, we expect programs and regular reviews take into account the steep cultural learning curve required to be successful.
to see a skillset shortage in these same sectors which should yield increased remuneration packages
for those who stayed loyal through the hard times. Timing a move into these sectors could be lucrative! Without this in place, both firms and candidates alike can find reputations in the firing line.
TALENT SHORTAGE
We continue to witness a squeeze in the talent pool of lawyers suitable for fast growing tech firms who
require specific industry experience. As such, companies are willing to pay 25-40% above market rate
for lawyers who possess these specific technical skills.
For example, lawyers who possess product knowledge around payments and the regulatory require-
ments for cross-border transactions are not readily available in the city. Law firms are playing catch up
with the industry’s rapid expansion and if you combine border restrictions for imported talent with a
sweet spot of lawyers moving In-House at 5-12 years PQE, the talent pool is further limited.
THE FUTURE
As Hong Kong reinvents itself as a leading international hub we expect the job market to return to
2018/2019 levels which would see a 160% increase in available jobs for In-House lawyers (compared
with 2020/2021). Firms across all sectors will look to capitalize on the further opening up of China’s
borders so finding the right seat this year could be a one way ticket to an accelerated career path!
LEGAL COUNSEL
(3-6 PQE)
CONSUMER HOSPITALITY REAL ESTATE TECHNOLOGY FINTECH INVESTMENT

Pay: 55 - 75k (HKD) Per Month Pay: 60 - 85k (HKD) Per Month Pay: 60 - 85k (HKD) Per Month Pay: 60 - 90k (HKD) Per Month Pay: 60 - 80k (HDK) Per Month Pay: 70 - 100k (HKD) Per Month
Bonus: 0 - 1 Month Bonus: 0 - 1 Month Bonus: 1+ Month Bonus: 1+ Month Bonus: 1+ Months Bonus: 3+ Months
Hours of work: 9am - 7pm Hours of work: 9am - 7pm Hours of work: 9am - 7pm Hours of work: Demanding with Hours of work: Demanding with Hours of work: Demanding but
Flexibility on office vs. WFH Flexibility on office vs. WFH with Flexibility on office vs. WFH
Languages: English (possibly Languages: English (likely Languages: English & Chinese
Cantonese) Mandarin required if regional) (read/write) Languages: English & Chinese Languages: English & Chinese Languages: English & Chinese
(read/write) (read/write) (read/write)
Industry examples: Retail, Airline Industry examples: Hotels & Industry examples: Construction,
Conglomerates, Medical Devices Resort Developments Commercial Real Esate, Property Industry examples: Software, Industry examples: Blockchain, Industry examples: Family Offices,
Developers, Engineering e-commerce platforms, Tech Digital Assets, Payments, PE / VC Funds
MNC’s & Internet Giants Startup Fintech’s
HIGHER END HIGHER END HIGHER END HIGHER END HIGHER END HIGHER END
Pay: 70 - 90k (HKD) Per Month Pay: 80 - 100k (HKD) Per Month Pay: 80 - 100k (HKD) Per Month Pay: 80 - 120k (HKD) Per Month Pay: 80 - 100k (HKD) Per Month Pay: 100 - 120k (HKD) Per Month
Bonus: 0 - 2 Months Bonus: 0 - 3 Months Bonus: 0 - 3 Months Bonus: 1 - 3 Months Bonus: 1 - 3 Months + Long term Bonus: 3+ Months + Long Term
Incentives Incentives
Hours of work: 9am - 9pm Hours of work: 9am - 9pm+ Hours of work: 9am - 9pm+ Hours of work: 14 - 16 Per Day
Hours of work: 14 - 16 Per Day Hours of work: 14 - 16 Per Day
The Extra: Lawyers are often The Extra: Project focused on The Extra: Specific technical The Extra: Lawyers will have TMT
trilingual and operating in transactional work such as experience required such as EPC training and specific software led The Extra: Lawyers possess The Extra: PRC / APAC
markets split between Hong acquisition of land/property. contracts, or construction related capabilities, these include working language skills to work the PRC transactions requiring PE/VC
Kong and the PRC. disputes / claims. directly on complex contractual and APAC market. backgrounds and market
The workload is often PRC and negotiations with software sales dependent language skillsets.
The workload can be heavy and APAC focused which requires Languages often reduce the teams. They also have the technical
involve multiple cross border additional language requirements availability of candidates, and softer skills required to The upper banding may have
transactions. and heavier workloads. especially when cross-border work in areas such as payments experience in alternative
work with the PRC is a and digital assets. investments such as technology
requirement. and green energy projects.
SENIOR LEGAL COUNSEL
(6-12 PQE)

Bonus: 1+ Month Bonus: 1+ Month Bonus: 1+ Month Bonus: 2+ Months Bonus: 2+ Months Bonus: 3+ Months
Hours of work: 9am - 7pm Hours of work: 9am - 7pm Hours of work: 9am - 7pm Hours of work: Demanding but Hours of work: Demanding but Hours of work: Demanding but
Languages: English & Cantonese with Flexibility on office vs. WFH with Flexibility on office vs. WFH with Flexibility on office vs. WFH
Languages: English (likely Languages: English & Chinese
Industry examples: Retail, Airline Mandarin required if regional) (read/write) Languages: English & Chinese Languages: English & Chinese Languages: English & Chinese
Conglomerates, Medical Devices (read/write) (read/write) (read/write)
Industry examples: Hotels & Industry examples: Construction,
Resort Developments Commercial Real Esate, Property Industry examples: Software, Industry examples: Blockchain, Industry examples: Family Offices,
Developers, Engineering e-commerce platforms, Tech Digital Assets, Payments, Startup PE / VC Funds
MNC’s & Internet Giants Fintech’s
Bonus: 1 - 4 Months Bonus: 1 - 4 Months Bonus: 1 - 4 Months Bonus: 2 - 4 Months + Share Bonus: 2 - 4 Months + Long Term Bonus: 3 - 6 Months + Long Term
Hours of work: 9am - 9pm+ Schemes Incentives Incentives
Hours of work: 9am - 9pm+ Hours of work: 9am - 9pm+
The Extra: Lawyers are often Hours of work: 14 – 16 Per Day Hours of work: 14 - 16 Per Day Hours of work: 14 – 16 Per Day
trilingual and operating in a split The Extra: Projects focused on The Extra: Specific technical
between Hong Kong and the PRC. transactional work such as experience required such as EPC The Extra: Lawyers will have TMT The Extra: Lawyers possess The Extra: PRC / APAC
acquisition of land/property. contracts, or construction related training and specific software led language skills to work the PRC transactions requiring PE/VC
At this level we would expect disputes / claims. capabilities, these include working and APAC market. backgrounds and market
some management duties and The workload is often PRC and directly on complex contractual dependent language skillsets.
autonomy on leading APAC focused which requires This can often be a sole counsel negotiations with software sales They also have the technical and
transactions. additional languages and heavier role in Hong Kong which comes teams. softer skills required to work in This can often be a sole counsel
workloads. with added responsibility to deal areas such as payments and role in Hong Kong which comes
Some firms will offer a higher with senior management. Leading regional negotiations and digital assets. with added responsibility to
bonus to compensate for At this level we would expect possessing regulatory knowledge develop the legal presence across
company-wide pay freezes during some management duties and around cross border transactions. It would be expected that lawyers Asia.
the pandemic. autonomy on leading transactions. have expertise in working with
product teams as well as liaising
with regulatory bodies around
Asia.
LEGAL DIRECTOR
(12-18 PQE)

Bonus: 2+ Months Bonus: 2+ Months Bonus: 2+ Months Bonus: 3+ Months Bonus: 3+ Months Bonus: 3+ Months
Hours of work: 9am - 8pm Hours of work: 9am - 9pm Hours of work: 9am - 9pm Hours of work: Demanding but Hours of work: Demanding but Hours of work: Demanding but
with Flexibility on office vs. WFH with Flexibility on office vs. WFH with Flexibility on office vs. WFH
Languages: English & Cantonese Languages: English (likely Languages: English & Chinese
(often Mandarin required) Mandarin required if regional) (read/write) Languages: English & Chinese Languages: English & Chinese Languages: English & Chinese
(read/write) (read/write) (read/write)
Industry examples: Retail, Airline Industry examples: Hotels & Industry examples: Construction,
Conglomerates, Medical Devices Resort Developments Commercial Real Esate, Property Industry examples: Software, Industry examples: Blockchain, Industry examples: Family Offices,
Bonus: 2 - 3 Months + Share Bonus: 2 - 4 Months + Share Bonus: 2 - 10 Months + Share Bonus: 2 - 4 Months + Share Bonus: 2 - 4 Months + Long Term Bonus: 3 - 6 Months + Long Term
Schemes Schemes Schemes Schemes Incentives Incentives
Hours of work: 12+ Per Day Hours of work: 12+ Per Day Hours of work: 14 - 16 per Day Hours of work: 14 – 16 Per Day Hours of work: 14 – 16 Per Day Hours of work: 14 – 16 Per Day
The Extra: Lawyers typically have The Extra: Project focused on The Extra: Transaction heavy. The Extra: Lawyers will be the main The Extra: Lawyers will be the main The Extra: Global transactions
oversight of the APAC region with transactional work such as focal point for legal matters in the focal point for legal matters in the requiring PE/VC backgrounds and
a 50%+ focus on the PRC. acquisition of land/property. This will likely be a firm with strong region. They will possess strong region. They will possess strong market dependent language
PRC connections and as such, technical skills relating to growth technical skills relating to growth skillsets.
The work will be a mix of hands on The workload is often PRC and requires specific stakeholder markets such as the PRC and SEA. markets such as the PRC and SEA.
transactions, compliance and team APAC focused which requires management skills found to that This can often be a sole counsel
responsibility. additional language requirements region. They may be sole counsel with a They also have the technical and role in Hong Kong which comes
and heavier workloads. view of growing the legal foot print softer skills required to work in with added responsibility to
Bonuses are higher as often tied to in Asia. areas such as payments and digital develop the legal presence across
Leading teams internally and heavy project workloads and tight assets. Asia.
playing an integral part in deadlines. They may be leading a team of
managing external stakeholders lawyers in the region. They may also be sole counsel with The focus will be to grow /
such as external counsel and a view of growing the legal foot manage team (s) in the region.
government officials. print in Asia.
GENERAL COUNSEL
(18+ PQE)

Bonus: 3+ Months Bonus: 3+ Months Bonus: 3+ Months Bonus: 3+ Months Bonus: 3+ Months Bonus: 3+ Months
Hours of work: 9am – 9pm
Hours of work: 9am - 9pm Hours of work: 9am - 9pm Hours of work: Demanding but Hours of work: Demanding but Hours of work: Demanding but
Languages: English & Cantonese with Flexibility on office vs. WFH with Flexibility on office vs. WFH with Flexibility on office vs. WFH
(often Mandarin required) Languages: English (likely Languages: English & Chinese
Mandarin requried if regional) (read/write) Languages: English & Chinese Languages: English & Chinese Languages: English & Chinese
Industry examples: Retail, Airline (read/write) (read/write) (read/write)
Conglomerates, Medical Devices Industry examples: Hotels & Industry examples: Construction,
Resort Developments Commercial Real Esate, Property Industry examples: Software, Industry examples: Blockchain, Industry examples: Family Offices,
Pay: 140 - 200k+ (HKD) Per Month Pay: 180 - 280k+ (HKD) Per Month Pay: 150 - 260k+ (HKD) Per Month Pay: 180 - 260k+ (HKD) Per Month Pay: 160 - 220k+ (HKD) Per Month Pay: 240 - 400k* (HKD) Per Month
Bonus: 3+ Months + Share Bonus: 3+ Months + Share Bonus: 2 - 10 Months + Share Bonus: 3 - 6 Months + Share Bonus: 3 - 6 Months + Long Term Bonus: 3 - 6 Months + Long Term
Schemes Schemes Schemes Schemes Incentives Incentives
Hours of work: 14 - 16 Per Day Hours of work: 14 - 16 Per Day Hours of work: 14 - 16 Per Day Hours of work: 14 - 16 Per Day Hours of work: 14 - 16 Per Day Hours of work: 14 - 16 Per Day
The Extra: Head of Legal role, The Extra: Leading a team across The Extra: This will likely be a firm The Extra: The role will have the The Extra: Lawyers will be the The Extra: Global transactions
covering the region with oversight the region and includes legal, with strong PRC connections and PRC and SEA key markets, both main focal point for legal matters requiring PE/VC backgrounds,
for Greater China and South East compliance, secretarial. as such, requires specific language and hands on market in the region. They will possess language skillsets, knowledge and
Asia. stakeholder management skills knowledge will be required. strong technical skills relating to interest in alternative investments
The coverage will be the entire found to that region. growth markets such as the PRC such as technology and green
Responsibility for leading a team of APAC region. Significant team management and SEA. energy projects.
employees covering legal, The bonus is often based on long duties and key leadership
compliance and secretarial. Ability to drive regional strategies hours and very heavy project qualities to be expected. Given the seniority and relatively Leading teams and transactions,
and influence global stakeholders workloads with tight deadlines. new technologies involved, with both hands on and high level
Leading M&A / JV transactions critical. suitable candidates may be moving stakeholder management.
This level of role will cover APAC / across with limited expertise and
Global expansion, along with hence the weighted Longer Term *Family offices / expanding
sizable team management duties. Incentives. technology funds, combined with
a dual Business / Legal role often
warrant a higher bracket.
SD Legal Limited
Suite 137, 13/F
Somptueux Central
52 Wellington Street, Central
Hong Kong

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SALARY SURVEY | 2022

SD LEGAL - WHO WE ARE WHAT MAKES US DIFFERENT?

T: +852 3752 0529 | M: +852 6508 2202

CONSUMER HOSPITALITY REAL ESTATE TECHNOLOGY FINTECH INVESTMENT

CONSUMER HOSPITALITY REAL ESTATE TECHNOLOGY FINTECH INVESTMENT

CONSUMER HOSPITALITY REAL ESTATE TECHNOLOGY FINTECH INVESTMENT

CONSUMER HOSPITALITY REAL ESTATE TECHNOLOGY FINTECH INVESTMENT

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