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<cite class="auth">Channel NewsAsia - Saturday, July 19</cite>
SINGAPORE: Money talks, and the lack of it may just mean you will be sticking to your current job.
A recent online poll by international recruitment consultancy Robert Walters showed that Asian employees have the greatest expectations for a pay rise when they move to a new company.
Over 3,500 mid to senior level professionals across various industries and sectors took part in the survey.
In China, the phrase "Show me the money" summed up the sentiment. More than half the respondents in China said they would demand a salary rise of 30 per cent or more if they were to change jobs.
In other parts of Asia like Hong Kong, Japan, Singapore and Malaysia, the majority of workers said they would not budge from their current cubicles, without a pay rise of over 20 per cent.
However, workers in the US and Europe, hit by constant talk of recession in the shadow of the credit crisis, appear to have more muted expectations.
Most of those polled in the UK, Europe, the United States, Australia and New Zealand, expected a modest rise of 10 to 20 per cent.
The Dutch appear to be the easiest to please, registering the highest proportion of workers with expectations of a pay increase in the zero to 10 per cent bracket.
All these numbers show that Asian workers still remain bullish about the job market, whereas those in the West are less confident.
Mark Ellwood, Managing Director at Robert Walters Singapore, however cautioned: "We may not have seen the same kind of troubles in Asia as we are seeing in other parts of the world, but it is worth remembering that a number of these international organisations are globally headquartered in the US or Europe and they will be looking at costs very carefully.
"It would be ambitious to continue to expect a 30 per cent salary increase. Even over 20 per cent would still be a considerable increase."
While there was considerable wage inflation in Asia last year, he warned that it may be slightly unrealistic to expect that to continue at the same pace given the current global economic environment.
The final advice for Asian workers? The job market may be strong now, but if workers in Asia are not mindful of the volatile market conditions, they may just end up out—pricing themselves and lose that top—executive job. — CNA/vm
SINGAPORE: Money talks, and the lack of it may just mean you will be sticking to your current job.
A recent online poll by international recruitment consultancy Robert Walters showed that Asian employees have the greatest expectations for a pay rise when they move to a new company.
Over 3,500 mid to senior level professionals across various industries and sectors took part in the survey.
In China, the phrase "Show me the money" summed up the sentiment. More than half the respondents in China said they would demand a salary rise of 30 per cent or more if they were to change jobs.
In other parts of Asia like Hong Kong, Japan, Singapore and Malaysia, the majority of workers said they would not budge from their current cubicles, without a pay rise of over 20 per cent.
However, workers in the US and Europe, hit by constant talk of recession in the shadow of the credit crisis, appear to have more muted expectations.
Most of those polled in the UK, Europe, the United States, Australia and New Zealand, expected a modest rise of 10 to 20 per cent.
The Dutch appear to be the easiest to please, registering the highest proportion of workers with expectations of a pay increase in the zero to 10 per cent bracket.
All these numbers show that Asian workers still remain bullish about the job market, whereas those in the West are less confident.
Mark Ellwood, Managing Director at Robert Walters Singapore, however cautioned: "We may not have seen the same kind of troubles in Asia as we are seeing in other parts of the world, but it is worth remembering that a number of these international organisations are globally headquartered in the US or Europe and they will be looking at costs very carefully.
"It would be ambitious to continue to expect a 30 per cent salary increase. Even over 20 per cent would still be a considerable increase."
While there was considerable wage inflation in Asia last year, he warned that it may be slightly unrealistic to expect that to continue at the same pace given the current global economic environment.
The final advice for Asian workers? The job market may be strong now, but if workers in Asia are not mindful of the volatile market conditions, they may just end up out—pricing themselves and lose that top—executive job. — CNA/vm
