Average pay hike seen unchanged at 5% next year in Philippines — survey

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Officers of the the Inter-Agency Council for Traffic or IACT inspect public utility vechiles along Commonwealth Avenue in Quezon City as the national pandemic task force starts allowing them to provide 70% of their seating capacity on Nov. 4, 2021.

The STAR / Michael Varcas

 

MANILA, Philippines — Salary increases in 2022 are expected to be unchanged among Philippine companies and would be below regional average as local employers continue to grapple with pandemic disruptions, a new survey released Monday found.

 

A poll by New-York based asset management firm Mercer found that pay hikes in local companies will likely stay at an average of 5% next year, the same growth this year but lower compared to average 5.5% increase in 2019, or before the pandemic struck.

 

The survey polled 435 firms in the country across 10 major industries between April and June this year, or before the onslaught of Delta variant that disrupted many businesses again. If the poll’s results would come true, next year’s salary increase in the Philippines would be below the expected pay bump in Asia Pacific region in 2022, which is seen at an average of 5.4%.

 

Full Story: https://www.philstar.com/business/2021/11/29/2144599/average-pay-hike-seen-unchanged-5-next-year-philippines-survey

 

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