Switching jobs this year could lead to a significant pay increase.
Unless – you’re working in Singapore.
(1) Happy Across the World
Recruitment consultancy firm Robert Walters expects employees across the world to command an average 15-20% more salary this year.
This is based on a global survey of those who switched jobs in 2013, and the firm says the trend is likely to continue.
(2) How About Singapore?
But, but but….
A separate survey done by recruitment group Hays found that in Singapore more than 50% of employers only gave their staff salary increases between 3-6%.
Around 15% of employers offered increases of 6-10%.
Employers in Singapore expect to give similar increases this year.
But a third of them say they expect to give either no pay increase, or an increase of less than 3%.
(3) But How Do We Compare to Asia?
We lose, boys.
For Asia on the whole, Hays found that close to 40% of employers offered salary increases of 3-6%.
That’s because more than 20% of employers offered increases between 6 -10%.
(4) In Sum
Our wage increase is lagging behind Asia, and the world.
And, it looks like we will continue to fall behind this coming year.
So, for all parents and elders out there, it’s time to think twice about packing that $10 ang pow ($8 enough already la, some more it’s a lucky number so no one will know you’re cheapo)