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APAC employers eye impressive 2023 pay rises

However, per industry, the report showed 'different developing rhythms'

Employers in APAC budgeting for 5 08% salary increase for employees across all ranks in 2022

Employers in APAC expect a 5 3% increase in salaries for 2021, down from 5 4% in 2020

Published: 19 January 2021 A total of 13 out of the 20 markets have decreased their average 2021 pay increase forecasts, with India noting the highest drop of the lot; employers in Singapore foresee an average salary increase of 3.5%, on par with peers in Hong Kong and Taiwan. Employers in Asia Pacific are projecting salary increments to be at an average of 5.3% this year, as the region continues to navigate the COVID-19 pandemic.  According to Willis Towers Watson s latest Salary Budget Planning Survey report, companies were forced to revise their pay rise budgets downwards in 2020, leading to an average increase of 5.4% that year (vs 5.6% of actual salary increase in 2019).

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