SINGAPORE, Nov 13 — Employers have forecast a 5.7 per cent increase in Malaysian salaries in 2014, according to the ECA International Salary Trends survey.

The recently released survey showed there was an around 5.5 per cent salary increase in Malaysia from 2011 to 2013, and in 2010, it stood at five per cent.

This reflects a steady percentage increase in Malaysian salaries.

ECA International is the world’s leading provider of knowledge, information and technology for the management and assignment of employees around the world.

Regional Director of ECA International, Lee Quane said: “Compared to Singapore and Indonesia, the percentage increase in nominal salaries in Malaysia in 2014, is higher than in Singapore but lower than Indonesia.

“For the third year in a row, employees in Singapore can expect to see their salaries increase by an average of 4.5 per cent.

“However, employees in Malaysia will feel better off than their peers in both Indonesia and Singapore, once inflation is factored in.”

According to Lee, those in the Banking and Finance industry in Malaysia will have the highest increases.

He said although companies are aware of the macroeconomic risks, they remain confident about the growth prospects of the Malaysian economy in 2014, but are also aware of the need to deliver rates of increase in salary which are sufficient to retain their human capital.

Globally, the survey showed that average salary increases in 2014 would be 5.8 per cent. — Bernama