How Much Year-end Bonus Do Employees in Singapore Receive?

May 8, 20178:28 am1062 views

If you’re wondering how much year-end bonus your colleagues and peers at work receive, then new Job Outlook and Bonus survey has the answers.

The average guaranteed bonus or annual wage supplement (AWS), received by employees in Singapore, beyond their 12-month salaries, is approximately 1.45 months.

However, about 30 percent of the respondents stated that they did not receive any AWS last year. More than 35 percent of respondents did not receive any performance-based bonus too.

The survey involved more than 400 respondents across various industries, from manufacturing to education and hospitality, telecommunication to accounting and medical. Other than offering insights on bonus schemes, the survey findings also revealed the overall market sentiment that job seekers have in 2017.

See: Does the “Carrot” of Big Bonuses Still Lure Executives and Encourage Performance?

Many job seekers are pessimistic about the job outlook, with 60.9 percent of them believing that, it would be hard to find a job in 2017. 68.9 percent of them believe that companies will likely put their expansion plans on hold, and not hire new employees and 73 percent of them think that landing an interview and getting a job with good opportunities will be challenging.

“This perceived outlook slightly deviates from our market sentiments. We saw a healthy increase in the number of job advertisements, since December 2016. On an average, we consistently have over 40,000 jobs posted on our website monthly. Hence, we believe that companies are still on lookout for talent,” says Chook Yuh Yng, Country Manager of Singapore.

Despite the bearish market, more than 70 percent of the respondents indicated that they would still actively monitor and look for new career opportunities.

They will focus their job-finding efforts via three channels: online job portals; referrals; and websites of the companies they want to work for. Companies that are looking to hire, should look to these channels for more effective recruitment efforts.

Also read: Guidelines Issued for Grant of Performance-Based Bonus for Government Workers in Philippines

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