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SINGAPORE: Employees in Singapore can expect salary increases of three per cent next year. That is up from this year's two per cent, said outplacement firm, ECA International.
Its latest Salary Trends Survey said within the region, salary increases remain highest in China, India, Indonesia and Vietnam. Pay rises will be lowest in Japan.
ECA International's regional director for Asia, Lee Quane, said Singapore's forecast pay increases, like Hong Kong and Taiwan's, are lower than the regional average.
This is due to the fact that these are developed economies with low inflation rates.
The survey found that salary increases within the region are predicted to average at five per cent in 2010, almost twice as high as this year.
Mr Quane said these forecasts are an indicator that companies operating within the region are much more confident about economic conditions than a year ago.
They suggest that many employers are actively making up for the fact that employees typically experienced little or no salary increase this year. - 938LIVE/vm
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