Workers here can expect a marginally higher salary increase in 2018 compared to last year, according to a new survey which illustrates the cautious mood in the job market.
The survey of 850 businesses across 14 industries in Singapore by global consultancy firm Mercer showed that wages could rise by an average of 3.9 per cent this year. Wages climbed 3.7 per cent on average in 2017, the firm’s findings showed.
This year’s wage growth is also expected to be uneven across various sectors. The life sciences industry, for instance, is forecast to see the highest wage increase (4.1 per cent), after wages rose an average of 3.9 per cent over the last two years. Other sectors projected to see larger pay hikes, include lifestyle and retail, as well as aerospace (both 4 per cent). The consumer goods, hightech, and chemical industries are projected to see wage increases of 3.9 per cent.