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Average salary increases in Thailand for potential new hires in 2021

Average salary increases in Thailand for potential new hires in 2021


This year, 33% of companies surveyed in Thailand are looking to increase their headcounts, while 32% plan to maintain the status quo.

Job candidates in Thailand's technology sector expect a 20% increase in salaries this year, the highest across 11 sectors, Michael Page Thailand's Talent Trends 2021 Report has found.

Over in the industrial & manufacturing sector, potential new hires in the sector are looking for an 18% increase, double of what those in the natural resources & energy sector expect (9%).

Overall, the report noted the following sector expectations (from highest to lowest):

  • Technology: 20%
  • Industrial & mManufacturing: 18%
  • Banking & financial services: 15%
  • Healthcare & life sciences: 15%
  • Professional services: 15%
  • Transport & distribution: 15%
  • Property & construction: 14%
  • Fast moving consumer goods: 13%
  • Retail: 13%
  • E-commerce/Internet: 12%
  • Natural resources & energy: 9%

Among job levels, the average salary expectations were as follows:

  • Non-managerial level: 16% more than their current/last drawn salary
  • Middle management: 14% more than their current / last drawn salary
  • Director / VP level: 11% more than their current / last drawn salary
  • CXO: 10% more than their current / last drawn salary

65% of companies to maintain or increase headcount in 2021 

While hiring activities in Thailand saw a 37% dip in 2020, the country is beginning to look more optimistic in 2021, the report noted. This year, 33% of companies surveyed are looking to increase their headcounts, while 32% plan to maintain the status quo. 

Further, in view of the current economic demands, sectors that anticipate the highest hiring activity include industrial/manufacturing, fast moving consumer goods (FMCG), technology & telecommunications, healthcare/pharmaceutical, as well as retail.

Kristoffer Paludan, Regional Director of Michael Page Thailand added: "Like other markets in the region, Thailand's technology sector stayed afloat and resilient, particularly for e-commerce and other internet-based businesses. Food production, too, proved to be a bright spot, which in turn carried other associated industries, such as chemical, agriculture, as well as agritech."

Top three important aspects of employee experience, by generations

Apart from the above, respondents of the survey also revealed what their top important aspects of employee experience were. Interestingly, mutual respect/relationship with colleagues, as well as transparent leadership communication made it to the top three for Baby Boomers, Gen X, and Gen Y, but not for Gen Z.

Instead, while D&I was among the top three for Gen Z, it wasn't for the rest of the generations.

While this was so, all four generations considered professional development plans an important aspect.

Baby Boomers (Born in or before 1965) 

#1 Transparent leadership communication 
#2 Mutual respect/relationship with colleagues 
#3 Professional development plans

Gen X (Born in or between 1966 and 1980) 

#1 Professional development plans 
#2 Transparent leadership communication 
#3 Mutual respect/relationship with colleagues

Gen Y (Born in or between 1981 and 1994) 

#1 Professional development plans 
#2 Mutual respect/relationship with colleagues 
#3 Transparent leadership communication

Gen Z (Born after 1995) 

#1 Professional development plans 
#2 Diversity and inclusion 
#3 Good work processes

In line with these findings, the top three areas for improvement identified were: Transparent leadership communication, professional development plan, and good work processes.

Photo / 123RF 

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