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“The boost in employees’ confidence to demand for pay increment this year is a result of an improving and stabilising economy. Hong Kongers are also likely to expect a higher salary this year to match the increasing cost of living in this city. However, employees are also expecting this as part of a retention strategy due to the intense competition for talent,” said Natallie Sun, managing director of Randstad Hong Kong in a press release.
Male employees in Hong Kong are much more optimistic about a wage increase and employee performance bonus 62.1%. While only one in two female employees 52.5% hope for a higher salary and bonus this year.
Singapore
Singaporeans are the least optimistic about a wage growth, compared with Hong Kong and Malaysia with only 63.9% of employees expecting an increase. Within the same group of respondents, seven out of 10 people are expecting to receive a bonus payout for the fiscal year.Younger Singaporeans between the ages of 18 and 34 are 16.5% more likely to demand a higher pay from their employers as compared to seasoned professionals 58.1%. More male employees expect a bonus 71.5% at the end of this fiscal year than female employees 68.3%.
Malaysia
Salary expectations in Malaysia are the highest, with 78.1% hoping for a wage raise this year. Vastly different to Singapore and Hong Kong SAR, experienced professionals in Malaysia are slightly more likely to demand a higher salary 78.6% than their younger counterparts 77.5%. Eight out of 10 Malaysians expect a bonus at the end of this fiscal year, which is also the highest sentiment across the region.
“I expect to receive a pay rise (raise) at the end of our fiscal year.” (%)
Global Average | SEA Average | Malaysia | Hong Kong SAR | Sing-apore | |
all | 56.1 | 71.0 | 78.1 | 71.2 | 63.9 |
men | 59.2 | 71.6 | 80.0 | 70.5 | 64.6 |
women | 52.8 | 70.4 | 76.1 | 71.6 | 63.3 |
18 - 34 | 66.2 | 74.3 | 77.5 | 70.0 | 74.6 |
35 - 54 | 50.3 | 68.7 | 78.6 | 71.8 | 58.1 |
“I expect to receive a one-time financial reward/bonus at the end of our fiscal year.” (%)
Global Average | SEA Average | Malaysia | Hong Kong SAR | Sing-apore | |
all | 51.3 | 68.9 | 80.0 | 57.0 | 69.8 |
men | 54.6 | 71.5 | 80.5 | 62.1 | 71.5 |
women | 47.9 | 66.6 | 79.5 | 52.5 | 68.3 |
18 - 34 | 62.8 | 72.9 | 79.4 | 60.7 | 77.4 |
35 - 54 | 44.7 | 66.2 | 80.6 | 54.7 | 65.8 |
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