What bonus? 20% of finance pros don’t expect any

While a majority of finance professionals in Singapore expect to receive a bonus this year, a third believes their bonus will be less.

Announcing the results of its latest Bonus Expectations Survey in Singapore, eFinancialCareers reported:

An overwhelming majority (80%) of surveyed finance professionals in Singapore expect to receive a bonus this year. Nearly three in 10 (28%) anticipate an increase in comparison to the previous year. A third (33%) believes their bonus will be less, while just two in 10 (20%) think it will be the same as last year. The remaining 20% don’t expect to receive a bonus at all this year.

In comparison to the region, finance professionals in Singapore are less optimistic than their counterparts in Greater China and Australia. In Singapore, a third (33%) of respondents take a more conservative view and expect their bonus to decrease this year – this compares to 30% of respondents in both, Greater China and Australia.

As regards compensation, nearly three quarters of respondents (72%) had a change in their base salary in the past year. Out of those, nine in 10 (90%) received an increase in salary. Surveyed finance professionals are more optimistic about their base salary than their bonus: four in 10 (40%) expect an increase in the next six months.

Asked to make a prediction about bonuses sizes over the next three years, nearly half (46%) say they expect bonuses to decrease in the future, 25% anticipate bonuses to stay the same, and only 14% predict that bonuses will increase. Over two thirds (68%) of the respondents cited market conditions as the key factor that concerns them in relation to their bonus, believing that the tumultuous market will potentially lead to a downward influence on total compensation.

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Tags: Bonus Expectations Survey in Singapore