According to Hays Asia Salary Guide, Malaysia is second only to China when it comes to salary increases in Asia. In fact, 10% of employers will be offering more than 10% salary increment to their staffs in 2015. In other words, you should get that increment letter soon, should you have performed very well and the employers would hate to lose you. Another 33% would give their employees between 6 – 10 percent. Not too bad as well because inflation is likely to stagnant in 2015. Of course, your personal inflation is likely to be much higher as Iphone 6 looks very attractive. To manage it better, get a Xiaomi instead. My personal choice? OPPO.
The majority would get between 3 – 6 percent. It’s ok, there’s no need to ask too many people. I think the survey is pretty accurate. Oh yeah, 1% of employers said that they will NOT give any increment. I think these employers would continue to struggle. Truth is, salary increment of 10%, even for a RM10,000 salaried staff would meant just RM15,000 per year including the usual statutory payments. However, a RM10,000 staff is likely to give you many times the returns if he/she is a performer. Besides, the cost of hiring as well as the cost of retraining a new people is not going to be low, not to mention the new staff may even be a bad hire and the employer may need to rehire.
What this piece of news meant is that the sentiment moving forward should be at worst, neutral. At best, of course it helps to ensure the retail sector remain strong when the employees have more to spend. I think Starbucks may be doing well this year. That’s why I bought 1,000 units of Berjaya Food just for fun. It has gone below the price I bought by around 5%. So, will keep until it hits 20% up or gives me dividends when Starbucks does well in 2015. In fact, the Malaysian economy is still expected to be growing by 5% or maybe slightly more in 2015. As usual, the catch is, the world must not be faring worst or else, the growth is not possible. What’s your increment? What’s your plan after this increment? Save for a property lah. That’s going to be a good decision. Make yourself too useful to lose and your increment will be higher than others. Happy working.
written on 25 Feb 2015
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