Singapore wages seen rising 3% next year
From our Correspondent
Jobseekers should start updating their resumes soon as employers in Singapore, China and Hong Kong are ready to hire again. Salaries are also set to accelerate across Asia next year as business conditions improve.
A survey by United States human-resource consultants Hewitt Consultants forecasts that wages in China will jump 6.7 per cent next year after rising only 4.5 per cent this year. Pay rises in Hong Kong and Singapore will be more modest at just under 3 per cent.
Job prospects for executives at multinational companies (MNCs) in these three Asian markets have improved sharply in the past three months, with growing sentiments that Asia’s recovery from the global recession will be sustainable, a survey by executive recruiters Hudson Asia showed yesterday.
In Hong Kong, companies from the media, public-relations and advertising sector are the most bullish – 69 per cent of those polled say they would be hiring, compared with 28 per cent in the May survey.
In China, 39 per cent of employers say they plan to add staff, up from 27 per cent in May, with companies in banking and finance most optimistic about hiring. In Singapore, the health-care and life-sciences sector continues to offer the best hiring opportunities, with 44 per cent of firms preparing to recruit.
The Hudson quarterly survey covered responses from nearly 2,000 managers at MNCs across industries in the three markets.
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Liang Chau Wei on Fri, 23rd Oct 2009 11:54 am
face it, our pay will never rise. 3% wont make a difference unless you are taking back a 7 digit pay.
anon on Fri, 23rd Oct 2009 12:02 pm
gov pay increasing too?
Stan on Fri, 23rd Oct 2009 12:06 pm
they meant the people above? (those in parliament), gov job?
or the people who works out there in the sun/retail/odd jobs/kopi auntie?
XiSd Tay on Fri, 23rd Oct 2009 12:09 pm
Plainly put, the PaPies’s pay will be raised AGAIN by 3% or more based on this report, AFTER THE ELECTION, of course.
poor on Fri, 23rd Oct 2009 12:15 pm
thanks, when inflation is likely to be above 5%, leaving me with a net net -2%
not to mention the transport hikes and electricity bill hikes that are gonna come.
time for change, vote opposition.
streetsmart73 on Fri, 23rd Oct 2009 1:49 pm
hi there
1. aiyoh! shittytimes get real!
2. 3%, what a joke! sinkies have not recovered from the blow yet.
3. talk about pay increase, probably, for specific interest group: papayees or ah jinx.
4. on one hand, one ah suay talking cock about lower pay, on the other shuttytimes vomit out such crap!
fair and square on Fri, 23rd Oct 2009 1:58 pm
Let’s give our leaders and employers(our CEOs more precisely) a fair chance to prove and honour their sincerity,shall we?
May we presuppose that as their salaries are already at beyond comfort zone level,they do not incur or increase running costs unnecessarily by boosting their exploding pay-packsts.
If anything,they may want to take this opportunity to “close the glaringly income gap”.
So don’t prejudge,let’s give them the chance to show sincerity as it is the rest of us that need and justify a pay rise .
cy on Fri, 23rd Oct 2009 2:49 pm
1)intention doesn’t mean action
2) even if put into action, only some benefit, those whose skills are in demand
3) average is one of the worst statistics to use