Pay raises few and far between
The study, conducted from July to November 2024, surveyed 1,127 workers across various sectors, including IT, education, healthcare, and construction. It found that 44% of respondents received a pay raise more than a year ago, while 19.1% reported a raise six months ago, 18.9% a year ago, and 18% within the past three months.
Despite these increases, over three-quarters (77.6%) remain unhappy with their current earnings, with only 22.4% expressing satisfaction.
Pressure mounts for higher salaries
Looking ahead, 50.2% of respondents plan to ask their employer for a raise in the next quarter, while 49.8% have no such intentions. Inflation, industry salary benchmarks, skill upgrades, and tenure are the main motivators for seeking higher pay.
However, the willingness to pursue better pay isn’t limited to discussions with current employers—47.9% said they would prefer to find a new job with better compensation rather than negotiate with their current employer.
What would satisfy workers?
Respondents indicated that a salary increase of 10–20% would satisfy 48.8% of workers, while 34.8% seek a raise of 20–30%. More substantial hikes of 40% or higher were deemed necessary by 8.5%, while just 8% would accept an increase of 10% or less.
In contrast, non-monetary incentives, such as paid training or additional leave, held little appeal—73% of respondents rejected such alternatives, favoring tangible salary boosts instead.
Workers’ expectations and experience
The survey’s findings are grounded in responses from a diverse workforce. Over 65% of participants have five or more years of experience, with others representing various career stages. Despite their varying backgrounds, a common theme emerged: stagnant wages are pushing employees to consider their options.
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Source: PAP Mediaroom