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TUESDAY, NOVEMBER 22, 1994
BOTH SALARY INDICES (A) AND (B) ARE DESIGNED FOR THE PURPOSE OF MEASURING CHANGES IN SALARY LEVELS FOR MANAGERIAL AND PROFESSIONAL EMPLOYEES OF SELECTED COMPANIES.
HOWEVER, BY CONFINING TO THOSE EMPLOYEES WHO REMAINED IN THE SAME OCCUPATION AND IN THE SAME COMPANY IN 1993 AND 1994, THE SALARY INDEX (B) ONLY ACCOUNTS FOR SALARY CHANGES DUE TO GENERAL INCREMENT, MERITORIOUS INCREASE AND GAIN IN SENIORITY.
ON THE OTHER HAND, THE SALARY INDEX (A) TAKES INTO ACCOUNT EFFECTS OF LABOUR MOBILITY AS WELL.
THE RATE OF INCREASE OF THE SALARY INDEX (B) IS USUALLY HIGHER THAN THAT OF THE SALARY INDEX (A) BECAUSE THE SALARY INDEX (A) INCLUDES THE SALARIES OF NEWLY RECRUITED AND NEWLY PROMOTED EMPLOYEES, WHO TEND TO BE PAID COMPARATIVELY LOWER SALARIES THAN THOSE ALREADY IN THE SAME RANK.
BETWEEN
FOR LARGE AND
JUNE 1993 AND JUNE 1994, THE NOMINAL SALARY INDEX (A) MEDIUM-SIZED COMPANIES INCREASED BY 9.6% AND 10.6% RESPECTIVELY. AS REGARDS THE NOMINAL SALARY INDEX CORRESPONDING INCREASES WERE 13.1% AND 15.1% RESPECTIVELY.
(B), THE
THE NOMINAL SALARY INDEX (A) AND NOMINAL SALARY INDEX (B) FOR JUNE 1994 ANALYSED BY MAJOR ECONOMIC SECTORS ARE SHOWN IN THE FOLLOWING TABLE.
BY DEFLATING THE NOMINAL SALARY INDICES BY THE HANG SENG CONSUMER PRICE INDEX, THE REAL SALARY INDICES ARE OBTAINED TO MEASURE CHANGES IN THE PURCHASING POWER OF THE AMOUNT OF MONEY EARNED.
ON
A YEAR-ON-YEAR COMPARISON, THE REAL SALARY INDICES (A) AND (B) REGISTERED INCREASES OF 0.2% AND 4.1% IN JUNE 1994 RESPECTIVELY.
AMONG THE MANAGERIAL AND PROFESSIONAL EMPLOYEES COVERED IN THE SURVEY, 66% OF THEM WERE ENTITLED TO PROFIT-SHARING BONUS, 37% TO HOUSING BENEFITS OF SOME KIND AND 82% TO PROVIDENT/RETIREMENT FUND OR PENSION. IT WAS ALSO FOUND THAT 88% OF THEM WERE ENTITLED TO GUARANTEED YEAR-END BONUS.
THE
AND
THE CENSUS AND STATISTICS DEPARTMENT HAS BEEN CONDUCTING ANNUAL SURVEY OF SALARIES AND EMPLOYEE BENEFITS
MANAGERIAL PROFESSIONAL EMPLOYEE (EXCLUDING TOP MANAGEMENT) SINCE 1984 TO MEASURE CHANGES IN SALARY RATES FOR MANAGERIAL AND PROFESSIONAL EMPLOYEES.
A SAMPLE OF ABOUT 200 LARGE AND MEDIUM-SIZED COMPANIES IS COVERED IN THE SURVEY. BOTH LOCAL AND EXPATRIATE EMPLOYEES WORKING IN COMMON OCCUPATIONS OF MANAGERIAL AND PROFESSIONAL LEVELS ARE ENUMERATED.
IN THE SURVEY, THE SALARY RATE IS DEFINED TO INCLUDE, IN ADDITION TO BASIC SALARIES, COST-OF-LIVING ALLOWANCE, GUARANTEED YEAR- END BONUS, COMMISSION AND TIPS, AND OTHER GUARANTEED AND REGULAR BONUSES AND ALLOWANCES.
OTHER ITEMS WHICH MAY CONTRIBUTE SIGNIFICANTLY TO THE TOTAL PAY PACKAGE OF EMPLOYEES AT MANAGERIAL AND PROFESSIONAL LEVELS, SUCH AS PROFIT-SHARING BONUS, ARE NOT INCLUDED IN THE DEFINITION OF THE SALARY
RATE.
/HOWEVER, STATISTICS