- The Ministry of Manpower’s survey revealed that total wage change for private sector workers in Singapore increased by approximately 6.5% in 2022, with a 5.1% change in basic wage.
- The survey also highlighted a rising trend towards a flexible wage system with 88.6% of establishments adopting this approach and 80.6% of employees benefiting from it.
- The Annual Variable Component bonus was estimated at 1.93 months for the year 2022.
I heard you all want to know about these wage changes in 2022.
Well, it seems like some people at the Ministry of Manpower did this fancy survey, right?
Then… wah lau eh, they found out that the total wage change for private sector workers with at least 10 employees was about 6.5%!
You know what that means? It means people’s salaries are growing, bro!
The Ministry of Manpower Do Some Survey Work
Don’t play play ah, these guys real serious.
They got 85.3% response rate one, you know?
They collect all sorts of info, like basic wage change, Annual Wage Supplement (AWS), and Variable Bonus (VB) for the private sector workers in 2022.
How Much Your Basic Wage Change, Ah?
Like one bag of kopi-o kosong, these findings are super simple.
Basic wage change was around 5.1%, with a 95% confidence interval (don’t ask me what this means lah) that your basic wage change could be between 5.0% and 5.2%.
Not too shabby, eh?
Annual Variable Component bonus was estimated to be like, 1.93 months.
Flexible Wage System Is the Way, Bro
More and more companies also hopping on the flexible wage system bandwagon sia, with 88.6% of establishments adopting it, and 80.6% of employees enjoying the ride.
What do you think about these wage changes?
Leave your *poweful* thoughts below. Don’t be shy!
Source: Source: Report On Wage Practices 2022, Manpower Research and Statistics Department, MOM.