According to Singapore’s Ministry of Manpower’s (MOM) Report on Wage Practices 2017, wage trends in 2017 were mostly positive with a total wage growth of 3.6% in basic wages. When employer CPF contributions were excluded, total wage growth was 3.8% in 2017.
Focusing on wage changes across types of employees, rank-and-file (RAF) employees, junior management and senior management all saw total wages increase faster in 2017 than a year ago.
As total wage increments of junior management employees outpaced those of RAF counterparts, the total wage growth among junior management at 4.1%, was higher compared with RAF employees with 3.8%. Nonetheless, the total wage growth of senior management employees (3.3%) continued to lag RAF counterparts in 2017.
Wage changes were minimal or higher for industries such as professional services, accommodation and food services, information and communications, financial and insurance, wholesale and retail trade, and manufacturing. However, there was a decline in the construction industry.
Additionally, establishments which were more profitable continued to give higher wage increases than loss-making ones.
The report covered 4,900 private establishments with at least 10 employees each. The response rate was 89%.
Lead Photo / iStock
Photo / Ministry of Manpower
Follow us on Telegram and on Instagram @humanresourcesonline for all the latest HR and manpower news from around the region!