THE TEMASEK TIMES

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Singaporeans should expect ‘lower’ salary increase next year

Posted by temasektimes on June 7, 2012

Singaporeans should expect lower salary increases and bonus payouts next year, according to a survey by global HR consultancy firm Hay Group.

Average wage is expected to go up by 4.5 per cent in 2013, down from 5.2 per cent this year while average variable bonus, which is 2.5 months this year, is expected to go down to 2.3 months next year.

451 companies based in Singapore were polled in March for the survey.

Speaking to queries from the media, a spokesperson from Hay Group said:

“When making recommendations on salary increments, organisations take into account factors such as the uncertainty in the eurozone, Singapore’s rising inflation index, tight labour market and restrictions imposed on foreign worker recruitment.”

 

2 Responses to “Singaporeans should expect ‘lower’ salary increase next year”

  1. Ken Lee said

    don’t worry PAP got their way to increase their own salary and bonus!

  2. Ya, right! Tell that to the ministers. Our salaries are falling. And when it is so hard to approve pay increase of $50 to low wage workers, it is easy to increase our ministers’ salaries by the millions. Whichever union iddiot was that that suggested a $50 increment. Darlin, you should aim for the stars and ask for $10k wage increment and perhaps that might get approved. The denomination of $50 is alien to those earning millions. If show them a $50-dollar bill they might just think it is some foreign currency. So remember if the dollar bill is not in orange or purple print, those up there will not recognise it as legal tender.

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