Asia's Managers Are Raking In The RaisesChristopher Farrell
The Pacific Rim is booming, and managers and professionals in Asia are looking at hefty pay hikes. Although overall salary levels are lower than in the U.S., many managers throughout much of Asia are likely to receive far larger salary increases this year in percentage terms, after adjusting for inflation, than similar employees in either North America, Europe, or much of Latin America, according to a recent report by William M. Mercer Inc., the employee-benefits consultant. In its survey of 30 countries, real average pay hikes for management in Indonesia, Japan, Malaysia, Singapore, and Taiwan will be about double the rate of inflation. In Thailand, real salary increases for management will range from 11% to 13%. In rapidly growing Asian economies, management talent is in short supply, and companies are bidding up prices. By contrast, in the U.S. and Canada, managers buffeted by corporations' restructuring mania will only beat inflation by one percentage point or less.