Amid the strong economic performance and tight labour market, total wages rose by a 7- year high of 5.9% in 2007, up from 4.5% in 2006. The total wage increase of 5.9% resulted from a basic wage gain of 4.3% and an increase in bonus payout (also known as annual variable component) from 2.18 months in 2006 to 2.36 months in 2007. The rise in annual variable component accounted for 2.3% point of the 5.9% total wage increase. The remaining 3.6% point came from the increase in basic wages, which accounted for 61% of the total wage gain in 2007, lower than 69% in 2006.
Also suggest by the figure above, it appears that the larger the firm, the higher the wage adjustment. And the wage ajustment on 2007 is the highest among the past five years. Once again, the full report can be found at http://www.mom.gov.sg/publish/momportal/en/communities/others/mrsd/Publications/ReportonWages_2007.html, but you can stick to my summary.
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14 years ago
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