HONG KONG ~ Hong Kong’s booming financial houses underpay their junior staff and overpay their senior financiers, a survey of pay scales in the Chinese city revealed.

Compared to other major world business centers, Hong Kong’s entry-level finance and accountancy employees get far lower salaries, posing a threat to the city’s future as a financial powerhouse.

“It’s feasible that Hong Kong could see a shortage of candidates in entry level positions as young professionals are lured to better-paid positions in markets like London, Australia and New Zealand,” said Andrew Brushfield, director of finance sector recruitment company Robert Half International.