Employees can look forward to a 2.6% raise.
Singapore employees can expect a real salary increase of 2.6% after factoring in the projected 1.4% inflation in 2019, according to ECA International’s latest salary trends survey.
The 2019 forecast is slightly lower compared to the 2.9% increase received in 2018, the firm said.
This keeps Singapore near the middle of the salary increase ranking across Asia Pacific (APAC), placing 11th out of the 20 countries surveyed in the region. Globally, Singapore came in at 12th alongside Morocco.
“However, Singapore will continue to see a higher increase than regional neighbours such as Hong Kong and Japan, and is only slightly below the APAC average of 2.7%,” Lee Quane, regional director for Asia at ECA International, said.
The 2.7% APAC average is an indication that many Asian economies, and consequently local salaries, are growing rapidly, he added.
Leading the pack is India which is forecast to receive a 5.1% real salary increase that is more than twice the increase employees in Hong Kong will experience, the firm noted.
The annual salary trends report analyses current and projected salary increases for local employees in 69 countries across the world.
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