
Did you get your raise this year?
If not, then you’re not part of the more than 82% of professionals in Singapore that did.
According to a recent global survey of more than 3,200 professionals by recruitment consultancy Robert Walters, 40 percent of respondents received a pay rise of between 1 and 5 percent, 20 percent received between 6 and 10 percent, 14 percent received between 11 and 20 percent and 8 percent received more than 21 percent.
Andrea Ross, Managing Director at Robert Walters Singapore & Malaysia, said it was not surprising that salary levels increased across all sectors following such a strong year of economic growth in 2010 in Singapore.
“The large increases in 2011 predominantly came from the non-financial services industry, as salaries within the financial services sector had a sharp increase last year. Another factor contributing to the increase in salaries at the start of the year would be an added focus of companies in trying to retain their top talent by providing competitive remuneration,” she said.
The global survey revealed that the highest pay rises came in Asia – 45 percent of respondents from China, 26 percent of respondents in Thailand, 24 percent of respondents in Malaysia, 22 percent of respondents in Singapore and 21 percent of respondents from Hong Kong received salary increases of 10 percent or more. The comparative figure for the UK was 16 percent.
Locations where a particularly large proportion of professionals received no pay rise at all for 2011 included Ireland (65 percent of respondents), New Zealand (49 percent), Belgium (39 percent) and Australia (35 percent).