Afternoon Highlight (26/11/12/200/675) Non-execs' salaries rise 5.8pc

Non-execs' salaries rise 5.8pc


NON-executives' average salary increased by 5.83 per cent this year, the highest annual percentage increase recorded in the past 10 years, findings from the Malaysian Employers Federation's survey showed.

MEF president Tan Sri Azman Shah Harun said the increase was significantly higher than the 5.37 per cent average increment last year.

"In fact, it was the highest recorded in the past 10 years. We attribute this spike to the implementation of national minimum wage which will come into effect on January 1, 2013," he told reporters after presenting MEF's salary survey yesterday.

The average salary growth for executives, however, was lower at 6.29 per cent compared with 6.45 per cent last year.

Azman said executives may expect a higher increment of 6.44 per cent in 2013 compared with the average increase of 6.29 per cent this year.

"For the non-executives, the average forecast salary increase next year was also higher at 6.55 per cent compared with 5.83 per cent for this year, " he added.

In terms of bonus payment, Azman said, 87.8 per cent of companies had given bonuses to either all or certain executives in 2012, which was higher than 82.4 per cent in 2011.

"For non-executives, 89.7 per cent were granted bonus this year compared with 81.9 per cent last year," he added.

MEF executive director Shamsuddin Bardan said the average salary for a non-executive was around RM2,500, while an executive takes home from RM1,800 to RM60,000 a month.

Shamsuddin said the national minimum wage policy which will come into effect on January is expected to benefit foreign workers the most.

Out of the 3.3 million workers under the policy, more than two million workers are foreigners.

"Out of the 650,000 registered companies, only 4,200 have applied to defer the implementation of the minimum wage. This means that most companies have no problem paying the additional money to their workers," he said.



Source : New Straits Times
Tarikh : 27 November 2012

Afternoon Highlight (26/11/12/200/675)