M’sian Salary Increases To Remain Flat in 2024
Aon plc (NYSE: AON), a prominent global professional services firm, has unveiled the global and regional results from its 2023 Salary Increase and Turnover Study.
According to the survey, which collects data gathered in the third quarter of 2023 from 950 companies across Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, salaries in Malaysia are anticipated to remain stagnant in 2024.
While Malaysia and Singapore project flat salary increments at 5.0% and 4.0%, the study indicates a median salary increase of 6.5% for Indonesia, 5.5% for the Philippines, 4.9% for Thailand, and 8.0% for Vietnam in 2024.
Despite concerns about the economic slowdown, compensation increases in Malaysia are projected to stay constant as employers deal with talent loss.
The attrition rates in…
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