News @ AsiaOne

Expect lower pay rises in 2009: Poll

Electronics manufacturing, banking and property sectors may be worst hit.

Tue, Dec 02, 2008
The Straits Times

SINGAPOREANS can still expect to enjoy salary increases next year, despite the economic downturn, but increments will be somewhat smaller than this year's.

Human resource consultancy Mercer Singapore yesterday released its salary projections for next year after polling more than 230 firms based here, including multinational corporations.

The poll last month found that, on average, base-salary increments will drop from 5.1 per cent this year to 4.2 per cent next year. The biggest cuts in pay rises will be felt in banking, property and electronics manufacturing, which have all been hit hard by the current slowdown.

 

 

 

 


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