HKMA chiefs are overpaid, study finds

HONG KONG - Hong Kong Monetary Authority (HKMA) chief Joseph Yam is one of many high ranking officials who may be forced to take pay cuts of at least 12 per cent if their governing boards endorse the recommendations of a pay study.

The Hong Kong Mail reports that the study, by consultancy firm Hay Group, reviewed the pay packages of the first three tiers of senior executives of 10 statutory bodies, and suggested Yam and So should have their pay cut by 14 per cent and 12 per cent respectively.

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