Singapore employees may get biggest bonuses in Asia
By IANSMonday, January 17, 2011
SINGAPORE - Employees are set to have a better time this year across Asia as corporate bosses are tipped to dish out bigger bonuses, with Singapore leading the list followed by China and India.
Singapore employees can expect a median bonus equivalent to about 17 percent of their annual base pay, or roughly two months’ salary for their performance in 2010, Xinhua reported Monday, citing a local business daily report.
This is higher than last year’s payout at about 15 percent of their base salary for the year, or 1.8 times the monthly salary, according to a latest survey.
The poll, conducted in November, covered 934 companies in Asia, including 85 in Singapore. The 2011 bonuses are found to be highest in Singapore than elsewhere in Asia, including the two emerging economies.
Chinese employers are tipped to hand out bonuses of 16.7 percent, while Indian bosses are expected to give bonuses of 15.6 percent.
The forecasts are 15.4 percent for Indonesia and Malaysia, 15 percent for South Korea and Vietnam, and 14.3 percent for Japan.
However, the Hong Kong-based HR Business Solutions, which conducted the survey, said the differential between the biggest and smallest median bonuses is just 2.7 percentage points, reflecting strong economic rebound across the region.
