In 2018, Salaries in S’pore Might Increase 3.9%, Which is Higher than 2017

Wow, yay. This is great news. Hurray.

Oh, who am I kidding. With the price of everything else increasing faster than the speed of our MRT breaking down, this 3.9% isn’t doing a lot.

Furthermore, it’s but a forecast.

A survey involving 850 businesses across 14 industries in Singapore was carried out by global consultancy firm Mercer, showing that wages COULD (Pay attention to the word) rise by approximately 3.9% next year.

If you need something to compare this with, you can take a look at this year’s figure, which is 3.7%.

Now you can do your calculations. Did your salary increase by at least 3.7% when you found yourself a job this year?

Anyway, the 3.9% we were talking about is but an average. As always, certain industries have it better than others.

People working in the life sciences industry can expect a possible 4.1% increase next year, which is the highest amongst all industries!

Now, aren’t you glad you took a degree related to life sciences?

For easier viewing, here’s some of the info in point form:

• Lifestyle and retail, Aerospace (4%)
• Consumer goods, High-tech, Chemical industries (3.9%)
• Life insurance (3.9%, which was lower than the past)

And then, we have the under performing ones (sigh):

• Internet Sector (3.7%)
• Banking (3.3%)

As usual, the figures do not account for inflation (SIGH).

However, let’s look on the bright side. At least it’s an increase and not a decrease!

The economic growth for Singapore this year is expected to be better than previously thought.

The full year forecast has been raised from 2-3% to 3-3.5%! Furthermore, Singapore’s economy is projected to grow by another 1.5% to 3.5% next year.

 

I suppose these are all good news if we look at it from a different angle. Why dwell on the negative things, right? (internal screaming)

That being said, even if the industry you’re currently working in does not have a significant increase in wages, that doesn’t mean you should give up on what you’re doing and change industry, you know.

Maybe one of these days, your industry will become the next life sciences! (please let it be linguistics)

Since you’re here, why not watch a video about an NTU student who went all out to impress his crush, only to end up in…tragedy? Here, watch it and do remember to share it (and also subscribe to Goody Feed YouTube channel)!

This article was first published on goodyfeed.com

Read Also

• Ultimate Salary Guide For S’poreans in 2017: Are You Getting the Average Pay?
• 10 Facts About Your Salary in S’pore You Probably Didn’t Know About
• In This Japan Company, You Get Extra Pay If You ‘Marry’ an Anime Character

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Image: visitsingapore.com