S'pore workers can expect 3% pay rise next year: surveyBy Felda Chay
SUFFERED a pay cut or freeze this year and wondering when your wages will increase? A survey by human resource firm ECA International shows that employees here can expect a 3 per cent salary increase as early as next year, and only 11 per cent of companies surveyed are proposing a pay freeze for 2010.
The ECA Salary Trends Survey, which monitored actual salary increases for 2009 and predicted increases for 2010, is based on information collected from questionnaires sent to 297 multinational companies in over 50 countries from August to October this year. The figures were then compared with those from ECA's 2008 survey.
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The 3 per cent pay rise that Singapore employees are likely to get next year is higher than this year's 2 per cent average. Real wages are set to go up 1.4 per cent, reflecting employers' growing confidence in economic conditions compared with a year ago. And while 11 per cent of respondent companies plan to freeze pay next year, this is way down from this year's figure of 39 per cent, ECA International said.
Companies in Asia-Pacific as a whole expect wages to rise 5 per cent on average next year, an increase from this year's 2.8 per cent. The figure is significantly higher than the average forecasts for Western Europe and North America, where wages are expected to rise 2.6 per cent and 2.8 per cent respectively. It is also marginally higher than the wage increase expected globally, which is 4.8 per cent.
ECA International's regional director for Asia, Lee Quane, said of the results: 'Asia has weathered the economic crisis better than many regions, defying predictions. These increases suggest many employers are making up for the fact that employees in 2009 typically experienced little or no uplift in their salary.'
Within Asia, Vietnam is set to see the highest wage increase at 10 per cent. India and Indonesia follow with expected increases of 9.3 and 8.5 per cent. Inflation, however, may cause a real wage decrease of one per cent in Vietnam.
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3% Pay Rise for 2010 
Nov 9 2009, 02:15 AM
