PETALING JAYA: The Malaysian Employers Federation (MEF) has forecast an overall 4.86% increase in salary for executives for 2019, which is a tad lower than the actual average pay rise of 4.88% in 2018.
Its president Tan Sri Azman Shah Haron said the forecast salary increase for non-executives for 2019 is 4.89% compared with the actual average salary increase of 4.88% in 2018.
“This (forecast of a marginally lower pay rise) is due to restructuring, downsizing and retrenchment by many companies,“ he said at the launch of MEF ‘s latest publication.
This year, 92.4% of the respondent companies granted salary increases to executives, which was 1.9% fewer compared with in 2017.
For non-executives, 92.7% of the respondent companies granted pay rise compared to 94.6% in 2017.
Meanwhile, the MEF forecast an average bonus payout of 2.06 months for executives this year, which is slightly smaller than the 2.18 months of actual bonus granted last year.
The average forecast bonus for non-executives is 1.97 months, slightly more than 1.95 months of actual bonus granted last year.
The executive report covered 160 benchmark positions of 14,330 executives, while the non-executives report covered 32,464 non-executives with 109 benchmark positions.
The first two publications are the federation’s flagship publications, the 24th edition of the MEF Salary Survey for Executives 2018 and MEF Salary Survey for Non-executives 2018.
The next publication is the 13th Edition of the MEF analysis of collective agreements and awards of the industrial court on terms and conditions of employment 2017 which is compiled based on 263 collective agreements, and 24 industrial court awards on terms and conditions of employment handed down in 2017.
And the last publication, which is the MEF Fringe Benefits Survey 2018, which provides information on benefits packages provided by the respondent companies covering a whole range of industries.
