Malaysia: MEF sees lower pay-rise raise-2014

The salary increment for next year is forecasted to be lower than the average increase this year due to economical "uncertainties" especially in the export sector.

Malaysian Employers Federation (MEF) revealed in its salary survey report that the average forecasted salary increase for 2014 is 5.63% for executives and 5.65% for non-executives. "This is lower than the actual average salary increase of 6.31% this year for executives. The forecasted average for non-executives is also lower at 5.65% compared to the actual average salary increase of 6.78% this year,"

MEF president Tan Sri Azman Shah Haron told a press conference today. "There are a lot of uncertainties out there. Malaysia is a major exporter to developed countries and these countries are not doing very well. That is why it would be difficult for companies to set a high fixed increment,"  based on the findings from 257 member companies.

He said the average salary increase this year for executives is slightly higher at 6.31% as compared to 6.29% in 2012. Similarly for non-executives, the average salary increase of 6.68% this year is higher than the 5.83% recorded last year.

The forecasted bonus for executives in 2014 is 2.21 months, which is slightly lower than the 2.26 months of actual bonus granted this year. However, the forecasted average bonus for non-executives for 2014 is 2.13 months, which is higher than the 2.05 months of actual average bonus given in 2013.

"Sixty-seven per cent of participating companies granted bonus to all executives in 2013, which is lower than the 71.7% in 2012. In the case of non-executives, 69.5% of the participating companies granted bonus to all of them in 2013, which was also lower compared to 73.4% in 2012," Azman said.
Source:theSundaily 27-11-2013

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