Here's why women have higher earning power in Hong Kong

According to our annual 2013 Market Pulse, Hong Kong women buck an APAC-wide trend, by earning considerably more than their male counterparts.

Our study found that women in digital advertising, media, and publishing roles, or advertising specialists, were earning 30,000 HKD more than their male counterparts, while marketing and communications experts were earning up to 100,000 more than men surveyed.

Women were best-off in large companies, where they were earning an average of 40,000 more than men – suggesting they held managerial positions.

My own Singapore and Malaysia-based counterparts are asking me if this can be true, and I’m pleased to say, it really is!

Part of the reason may be that those 99 years of British rule have had quite an impact on education in Hong Kong. Students follow Western curriculums, and along with that, develop strong decision-making, and leadership skills.

That is likely a contributing factor to Hong Kong having the highest representations of women holding board positions in Asia with 38% of boards having a female representative (according to The McKinsey Report).

The HK stock exchange has introduced a rule that requires listed companies to report their board diversity, which, while not mandated, is probably boosting the representation of women on boards.

After having worked in Asia for over six years, Hong Kong women, I have noticed, are aware of what they are worth and are demanding higher salaries, and higher salary increments than those in other parts of the world.

There are a lot of women entrepreneurs here, and they make the most of the many networking and business support groups, which makes their businesses collectively that much more successful.

Combining a family life with a successful career is never going to be easy, but with family support for childcare, and if that’s not available, very reasonably-priced domestic help, many working women are able to juggle both – and some put off child-bearing until they are in managerial, and indispensable positions.

Our 2013 Market Pulse found that women earn considerably more than their male colleagues at 16-20 years – so those who put off having families until their mid-thirties can be considerably better off, and slot straight back into their roles if and when they are ready to.

We also surveyed digital, creative and marketing professionals in New Zealand, Malaysia, and Singapore, but only in Hong Kong did women indicate they would need a higher pay rise than what the men would ask for to leave their jobs.

Men said they would need a 15 percent pay rise to leave, where women said they would need 16 percent. In the other markets, where women had lower overall median salaries, and moved around a lot more than men, their “headhunt” price was significant less than the men in those markets.

Regardless of their industry, age, or location, women are generally less comfortable with going in to bat for their salaries than men, but it seems that women in Hong Kong are more aware of their choices, equality, and what they want, and are less constrained in asking for what they want. And if our figures are anything to go by, it’s paying off, quite healthily!