Employers polled by HR Business Solutions say that they will give an average of 5.2% in increment in 2008.
The Business Times reported HRBS’ Managing Principal Elaine Ng as saying, “Pay increase in 2008 is expected to be higher than in 2007 across Asia-Pacific, looking at both median and mean (average) figure.” (BT, 24 September 2007.)
However, this projected increase is not inflation adjusted.
Just for comparison, Hay Group’s recently released Asia Compensation Report says Singapore’s real salary increase (i.e. inflation adjusted) is 3.8%. And inflation is projected to be 1.1%. (ST, 20 September 2007. Also reported in The China Post.)
So I say: if you get anything less than 5%, you should talk to your boss. 🙂
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