Wednesday, December 3, 2008

Slower Pay Raises in 2009

The pay raises will be lower next year in Singapore, that’s the sort of news that is in the newspaper this morning.
So who’s complaining, after all the weeks of the headlines saying that most of the global economy is in a recession, people should be happy that there is still some sort of pay raise coming anyhow. They Strait Times quote “on average, base-salary increments will drop from 5.1 per cent this year to 4.2 per cent next year”. Ok now, that might now cause a major disruption in the 25 year financial plans of most people. For those that have such plans! (One, perhaps in a few thousand?).

And recovery will only start in the first and second quarters of next year! That doesn’t sound so bad for me.
The fact is that it always depends on the market characteristics of the sort of job that you have at the moment. If it is the sort of industry that can be put off for a while, say like IT ("let’s change the computers next year, instead of December!" as planned) then things are going to be slow, but certain jobs will never be hurt (to a certain degree), or hurt last, that is the jobs that actually bring in the revenue, like marketing or sales. There are companies that are willing to pay top dollar for people with such caliber.
So pay raise slowing down? Come on! and get us some other news?

No comments:

Post a Comment

Thanks for Stopping By, Hope You Enjoyed Yourself, Learned or Discovered Something, Thanks for the Comment! Have A Nice Day!