market outlook: technology will continue to be a key growth sector in 2021.

The global pandemic is the greatest game-changer for the Hong Kong technology scene. The consumer demand for e-commerce, payments and Software-as-a-Service (SaaS) solutions have skyrocketed this year in response to businesses shifting their operations online.

As Asia’s financial hub, the city boasts a huge network of talent, customers and funding opportunities. Digital banking has been making headway in Asia, with major financial institutions introducing digital banking and virtual banking licensing processes even before the pandemic.

The current pandemic has unwittingly become a catalyst in driving businesses to adopt new innovation and strengthen their technology core, such as cybersecurity and cloud architecture. There is also a higher interest in emerging technologies such as artificial intelligence and virtual and augmented reality. This trend will continue to drive innovation and talent demand in Hong Kong’s technology industry in 2021.

2021 labour and salary trends for technology professionals

It should also be noted that the tech talent shortage is a challenge faced by companies all over the world. Although there are more active job seekers in the job market, companies are looking for experienced technologists with specialised skills to take them to the next phase of digital transformation.

Strong local tech talent with in-demand skills will find it relatively easy to secure a job that meets their salary and job expectations. These professional technologists will also be motivated to find a new job if they feel that their current employer is not doing enough to move the needle in technology developments.

Candidates are well aware of their worth in a talent-short industry, and will negotiate for a 10% to 20% salary increment when switching employers. Technologists with high-demand or extremely niche skill sets can negotiate for an even higher salary increase.

download the digital copy of the hong kong SAR 2021 market outlook and salary snapshot

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key highlights in the technology market outlook 2021

  • evolution of job responsibilities and required skills for technology in 2021.
  • anticipated job mobility of professionals across industries and different levels of seniority.
  • salary snapshots for more than 70 different IT jobs in Hong Kong SAR.

read more on 2021 talent trends in hong kong in other industries:

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