KPMG commits S$25 million salary increment for Singapore staff
SINGAPORE — KPMG will be increasing the pay for entry level professionals by up to 20 per cent as part of a broader adjustment of Singapore staff salaries.
The firm is investing S$25 million this financial year into pay raises, in addition to “market competitive bonuses” for its staff, the firm said in a press statement on Thursday (19 May).
Apart from entry level professionals, majority of its 3,200 employees in Singapore will see their salaries adjusted alongside annual salary increments.
KPMG Singapore’s Managing Partner Ong Pang Thye said, “Investing substantially in our people is really our way of telling KPMG's staff and all stakeholders that it is critical to recognise the importance of professional services, auditors and advisers to the continued functioning of the financial markets and that the quality of talent is fundamental in delivering outcomes of impact/value as well as meeting stakeholders’ expectations.”
Apart from salary adjustments, KPMG said it will be investing S$30 million in a lifelong learning programme to train its staff in data and digital literacy - amongst other topics - over the next five years.
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