Singaporeans' salaries to increase 2.7% in 2018

Singaporeans' salaries to increase 2.7% in 2018

That is after factoring in inflation.

Singapore employees should expect to receive a "real" salary increase by 2.7% in 2018, mobility provider ECA International (ECA) revealed.

According to its Salary Trends survey, Singaporeans will see their salaries increase by 4% in 2018. When inflation was factored in, the real salary increase hit 2.7%.

This is lower than the 2.9% increase in 2017.

This keeps Singapore near the middle of the salary increase table in Asia, ranking ninth out of 20 countries surveyed in the region. On a global scale, Singapore took 14th place.

Real salary increases in Asia-Pacific are expected to continue to lead the world in 2018, filling eight of the top ten positions in the global rankings.

“Over the past few years inflation in Singapore has increased while nominal salary increases have stayed flat, which has had the effect of slowly eroding pay rises in real terms. Despite this, the salary increases for 2017 and 2018 are higher than in Hong Kong and compare favourably with other developed economies in the region and globally. This reflects the fact that the Singapore economy continues to perform well on the back of global economic recovery," Lee Quane, regional director – Asia, ECA International, said.

More From Singapore Business Review