Survey says 4.5% salary hike awaits employees in 2013

Starting salaries were also up in 2012.

Mercer reported:

Companies across industries in Singapore are offering employees an average of 4.5 percent salary increase in 2013, report findings derived from Mercer’s Total Remuneration Survey 2012. This figure is similar to the increase reported in 2012.

Forecasts have been shaped by strong headwinds from advanced economies in the west and Singapore’s reliance on exports, which have resulted in a more cautious outlook in 2012 and 2013.

These survey findings reflect the responses of around 700 Singapore-based companies, surveyed over the month of August 2012. These companies represent eleven key industries/sectors. Nearly 70 percent are multi-nationals.

Starting salaries for fresh degree holders have been pretty flat over the last few years, but saw an average increase of 4 percent in 2012 from 2011.