Wages up 4.5% in 2006.


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melvin

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Wages up 4.5% in 2006, fastest rate in six years
By Foo Siew Shyan, Channel NewsAsia | Posted: 29 June 2007 1658 hrs

SINGAPORE: Wages increased by 4.5 per cent last year - the fastest rate in six years.

According to a report by the Manpower Ministry, the salary hike was buoyed by a tighter job market.

However, wages of lower-skilled workers were dragged down by globalisation, thus moderating the pay hike.

Of the 4.5 per cent wage increase, 3.6 per cent came from basic wage gain.

The rest was an increase in bonus payout to 2.18 months last year, up from 2.06 months in 2005.

Professionals, managers and executives in junior and senior management saw their salaries go up by 5.4 per cent to 5.6 per cent.

That is up significantly from the 4.8 to 4.9 per cent pay hike they had in 2005.

But for rank-and-file workers, their salary increase remained unchanged at 3.9 per cent last year.

Jobs requiring professional and specialised training continued to command higher pay. Such jobs fetch a median starting pay of S$2,000.

The starting pay for occupations such as cleaners and labourers, that require lower entry skills, was S$600.

All major industries also gave higher pay increases than a year ago.

The financial services, and transport and storage industries were one of the top paymasters, while those in the hotel and construction sectors are among the lowest paid. - CNA/yy
Everything in Singapore go up, What else have not?:think: :bsmilie:
 

orislee

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May 11, 2006
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#3
damn....how come my pay never increase much!!!! < 3% and I am in R&D, government fund company which requires high skill and knowledge!
 

Static

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Jul 5, 2006
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#4
:bsmilie: :bsmilie:

Spin doc are in town again. Wanna see my pay slip ? :angry:

Oh, and my few other friends too. ;(
:sticktong
 

sORe-EyEz

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Jun 28, 2005
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#5
can 4.5&#37; wage increase keep up w/ d slew of price increases in recent mths? :rolleyes:
 

Jun 30, 2005
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#6
my friends who are fresh graduates got a few hundred increased, those who joined earlier few years ago got lesser...
 

Silence Sky

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Sep 5, 2006
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#7
It is true.....

I earn $700 basic, last year they increase my pay to $750.

The rate of increment is 7.14&#37; year to year.

I am so so happy.
 

Hoky

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Mar 17, 2004
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#8
damn....how come my pay never increase much!!!! < 3&#37; and I am in R&D, government fund company which requires high skill and knowledge!
I'm also in R&D (Working in the US, getting SG pay), and I'm getting no increment for past two years plus.
One of my fellow SG colleague in R&D just got laid off on Friday.
I doubt the credibility of this news.
 

Silence Sky

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Sep 5, 2006
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#9
I also in R&D, and I'm getting 0% increase.
One of my fellow SG colleague in R&D just got laid off on Friday.
I doubt the credibility of this news.
I in electronic manufacturing, 300+ employee 0% increament for 3 years liao.
Last month retrench 25% of our workforce.

;( ;(
 

Parka

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Nov 18, 2005
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#13
They should do a more comprehensive study into which areas the wages are really going up.

If 99 industries' wages go down at 1 point each, and the last industry wage go up by 100 points. Average is still a wage increase.

:nono:
 

kcuf2

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Dec 29, 2005
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#14
They should do a more comprehensive study into which areas the wages are really going up.

If 99 industries' wages go down at 1 point each, and the last industry wage go up by 100 points. Average is still a wage increase.

:nono:
u think they will do this meh? they are just trying to fool everyone in our country that WE are doing VERY WELL and so it is JUSTIFIED to price hike ALL forms of items !!!!! :thumbsd: :thumbsd: in fact many firms in sg are doing well just because the whole economy is doing well... but the current boom is just nice to offset the slump in the previous years... the red sea of the previous years still need to be cleansed..
 

sORe-EyEz

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Jun 28, 2005
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#16
in a way u can say d retail sector doing v well in tis few mths? increase GST + NETS fees coupled w/ GSS. timing v gd. no demand? create loh... :eek:
 

Hoky

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#18
They should do a more comprehensive study into which areas the wages are really going up.

If 99 industries' wages go down at 1 point each, and the last industry wage go up by 100 points. Average is still a wage increase.

:nono:
Yah, I guess remembered our MP got a 33% increase. Maybe their salaries "helped" to bring up the national average... Hooray for our leaders....
 

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