Are you also bracing for a pay freeze?

New survey shows roughly a quarter of Singaporeans do not expect any form of raise in 2012.

23% of Singaporeans now expect their pay to stagnate, up from just 16% last year, said Berkley Group Asia in a new survey.

Granted, this is still lower than the global average of 41%, so employees in the island nation are relatively more upbeat than most of their global counterparts.

“Singapore has now cemented its position as a leading financial centre, and employees here are more confident about their pay prospects than other more established centres such as the UK and USA. Attractive tax rates in the country have meant that we are receiving an increasing number of calls from employees in the UK and elsewhere looking to relocate to Singapore on a permanent basis,” said Steve Greenwood, Chief Executive Officer at Berkley Group Asia.

“Skill shortages are not as acute in Singapore as they were a year ago but getting hold of the best staff remains a challenge for businesses," he added.