Singapore PMETs see higher salaries

Workers in the 70th percentile get the highest raise but there is encouraging news for all workers in all percentiles

Singapore PMETs see higher salaries
Salaries of resident professionals, managers, executives and technicians (PMETs) employed in full-time jobs have risen over the past three years with those in the 70th percentiles logging the highest increase (9.27%), according to figures from Minister for Manpower Lim Swee Say.

Gross monthly income rose for all workers across all percentiles:
 
Percentile
June 2013
June 2016
Growth Rate
P25
3,714
4,000
7.70%
P50
5,510
5,910
7.26%
P60
6,413
6,990
9.00%
P70
7,709
8,424
9.27%
P75
8,556
9,280
8.46%
P80
9,750
10,286
5.50%

Lim drew the data from the Comprehensive Labour Force Survey of the Ministry of Manpower’s (MOM’s) research and statistics department. Data on basic monthly income was not available.

Fewer employees across different sectors received wage increases in 2016 and wage growth also slowed down from a year before, according to figures from the Ministry of Manpower (MOM) released last May.

The ministry’s “Report on Wage Practices 2016” said 75% of employees received wage increases, compared to 77% in 2015. Wage growth also “moderated” 3.1% from 4.9% over the same period. MOM attributed the lower rates to a drop in the number of profitable firms – there were fewer of them in 2016 (76%) compared to 2015 (79%).

A recent report by online jobs portal JobStreet said Singapore firms also offer the lowest salary increase for those moving up, with just 14% compared to the region’s 16% to 24%. More than 75% of Singapore employees said they are given more duties or responsibilities while only 41% reported receiving a formal promotion.


Related stories:
Asia dominates list of world’s top 10 most expensive cities
How long do Singapore employees wait for a promotion?
 

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