Salaries in Southeast Asia are expected to increase slightly for 2023 compared to 2022, a study by Aon plc says.
Inflation has been playing a significant role in how salaries look across the region. But they have also been driven by supply and demand in the talent market.
The study says median salary increase budgets were forecasted across industries at 6.8% for Indonesia, 5.1% for Malaysia, 6.0% for the Philippines, 4.7% for Singapore, 5.1% for Thailand, and 7.9% for Vietnam.
The study was conducted in the third quarter (Q3) of 2022, surveying the salary changes and turnover rates of more than 700 companies across Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam.
Read the full article HERE.
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