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Only 13% of Singapore employees will get a pay increase of 6% or more: Hays
RECRUITING and human resources firm Hays said on Tuesday morning that Singapore salaries remain steady despite steady hiring demand.
While most employees can expect some pay increases, just 13 per cent can expect a salary increase of 6 per cent or more, the firm said, as it released its 2015 Hays Asia Salary Guide.
The guide shows that in Singapore, 59 per cent of employers increased salaries in their last review by 3 to 6 per cent, while 8 per cent gave staff an increase of between 6 and 10 per cent. A further 5 per cent increased above 10 per cent.
At the other end of the scale, 22 per cent gave increases of less than 3 per cent, and the final 6 per cent of employers gave no increases at all.
Looking ahead, 54 per cent of employers will increase salaries by 3 to 6 per cent in their next review. Just 13 per cent will increase above 6 per cent.
The median gross monthly income of a Singapore resident working full-time was S$3,250 a month excluding employer Central Provident Fund (CPF) contributions, and S$3,705 including employer CPF, according to latest figures from the Ministry of Manpower.
Wage increases have been between 4 and 6 per cent a year in the last few years.