HR & EDUCATION | Staff Reporter, Singapore

Singapore managers can look forward to a 5% pay hike

1 in 2 firms plan on raising salaries this year.

According to a report from Bloomberg, Singaporean managers and senior staff can prepare for 5 percent pay increases at most this year as the labor market stabilises. About 93 percent of companies in Singapore say they will keep or raise headcount this year, according to a survey by recruitment consultancy Michael Page of almost 450 businesses in the city state. Only 36 percent said they will recruit new hires.

Singapore's unemployment rate recently hit a six-year high of 2.2 percent, though the country still remains one of the easiest places in the world to find work.

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