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Salary increments here to recover in 2021, 2022: recruitment firms

Employees in high demand could net raises of 20% or more when switching employers; hiring demand is seen as particularly strong in growth industries

Janice Heng

Janice Heng

Published Thu, Aug 19, 2021 · 05:50 AM
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Singapore

AFTER a lean 2020, employees in Singapore may expect salary increments to start approaching pre-Covid rates this year and next - while those in high demand could net raises of 20 per cent or more when switching employers, said recruitment firms.

Hiring demand is particularly strong in growth industries such as technology, financial services, and life sciences, they added.

For those staying put, pay rises are not expected to match Singapore's official growth forecast of 6 to 7 per cent, which was upgraded on Aug 11.

But they will still be a step up from 2020, when private-sector wages rose …

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