Survey suggests salaries in APAC will increase in 2021

Survey suggests salaries in APAC will increase in 2021
22 Jan 2021

Following 2020's salary freezes, in 2021 pay in the Asia Pacific is expected to increase by an average of 5.3 per cent, according to the results of a new survey.

The finding of the latest salary planning budget survey by Willis Towers Watson showed the greatest projected salary increases in Bangladesh and India at 8.0 and 7.9 per cent respectively. Japan and Brunei had the lowest predicted increases at 2.2 and 3.0 per cent.

This trend mirrors a reduction in the number of companies freezing pay increases; the figure dropped to 13 per cent this year, from its 30 per cent high during the worst of the pandemic in 2020. Industries which experienced growth last year - such as pharmaceutical, healthcare, or technology - are also expected to see the largest pay increases this year at 5 per cent or more.

The survey additionally found that executives and managers are likely to see the greatest pay growth. A possible reason for this is that their pay is already at a much higher rate than the average worker's meaning the same percentage increase translates to a far larger total.  

People Matters reports further on the findings with expert analysis.

Following 2020's salary freezes, in 2021 pay in the Asia Pacific is expected to increase by an average of 5.3 per cent, according to the results of a new survey.

The finding of the latest salary planning budget survey by Willis Towers Watson showed the greatest projected salary increases in Bangladesh and India at 8.0 and 7.9 per cent respectively. Japan and Brunei had the lowest predicted increases at 2.2 and 3.0 per cent.

This trend mirrors a reduction in the number of companies freezing pay increases; the figure dropped to 13 per cent this year, from its 30 per cent high during the worst of the pandemic in 2020. Industries which experienced growth last year - such as pharmaceutical, healthcare, or technology - are also expected to see the largest pay increases this year at 5 per cent or more.

The survey additionally found that executives and managers are likely to see the greatest pay growth. A possible reason for this is that their pay is already at a much higher rate than the average worker's meaning the same percentage increase translates to a far larger total.  

People Matters reports further on the findings with expert analysis.

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