It’s already 2020. It’s past the Chinese New Year. I think most of everyone already know their salary increments for the potential their employers see in them for 2020. By the way, increment is for the potential. It is NOT for past performance yeah. I believe you can perform a higher role, so I promote you and I pay you a better pay. There is no such thing as I give you MORE responsibilities first and if you could do it, then only I pay you higher salary. Well, these employers will soon lose their best employees and only have the not-so-awesome ones who will remain in the company. Not a good thing to have yeah.
To those employers who wonder why their top employees ALWAYS leave even though they gave them opportunities and pay them higher when they perform… 😛 I think most would already know whether their hardwork has paid off handsomely; higher bonus compared to last year. If bonus is low or none BECAUSE the market is slow, better hope that all industries are the same yeah. Else, do not blame the employee who switched to another employer who is willing to pay bonus. Malaysian employers and employees may want to look at what the industry seems to be paying.
Article in humanresourcesonline.net Willis Towers Watson has provided a yearly outlook on actual and projected salary increases in 2019 and 2020 across 20 markets including Singapore, Malaysia, Thailand and Indonesia. The projected salary increase at the regional average is expected to be 5.7%. (Hey, pretty okay.)
Details by country as per the chart below:
Edward Hsu, Business Leader, Data Services and Compensation Software, Asia Pacific, Willis Towers Watson, commented: “Jobs in sales, engineering and technical skilled trades are the top three functions that organisations are likely to recruit in the next 12 months. “In particular, engineering jobs are in demand and this could be driven by the increase digitalisation and ongoing transformation of business across industries.” Please refer to the comprehensive Article in humanresourcesonline.net
We can see that Vietnam has the highest salary increments yeah. Typical average salaries of Vietnamese working professionals is around 17,400,000 VND (RM3,100) per month. Info source here. The lowest salaries are around 2,350,000 VND (RM419). Meanwhile Singaporean working professionals will only have a 4% increment. However their median gross income is S$4,563 (RM13618) (info source here).
Malaysian working professionals are in the middle I think. Average salaries are RM3,274. (info source here) Even the increment which is at 5.2% is in the middle too between Vietnam and Singapore. Yeah, I know, the Singaporean dollar exchange rate meant that it’s tempting to get a job there yeah. Anyway, it’s a choice yeah. For the rest of us who’s happily working here, happy working and wishing you the best in the increment expected for 2020. Happy working.
Next suggested article: Changing jobs? At least 15% up in salary increment is expected