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Expect a pay increase of 5% at most for managers in Singapore: Michael Page

Bloomberg Published on Mon, Mar 06, 2017 / 8:18 AM GMT+8

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SINGAPORE (March 6): Singaporean managers and senior staff can prepare for 5% pay increases at most this year as the labour market stabilises.

About 93% of companies in Singapore say they will keep or raise headcount this year, according to a survey by recruitment consultancy Michael Page of almost 450 businesses in the city state. Only 36% said they will recruit new hires.

Singapore's unemployment rate recently hit a six-year high of 2.2%, though the country still remains one of the easiest places in the world to find work.