Lower pay rise likely next year
EMPLOYEES can expect to receive a lower pay rise next year as companies lower their profit outlook, recruitment portal 51job.com said in a survey yesterday.
Companies are set to offer pay rise of an average 7 percent in 2017, down from 7.2 percent this year, according to the survey of 3,371 employers and 4,712 employees.
It will be the third straight year for companies to lower salary hopes amid a slowing economy as they adjust to the economic changes, making them cautious over future profits, the survey said.
High technology firms are likely to give a salary rise of 8.8 percent, followed by financial and bio-phamaceutical companies.