Lower rise in salaries on profit concerns
Print Edition
GROWTH in salaries dipped this year and is likely to be slower next year as profit pressure weighs on companies, recruitment portal 51job.com said in a survey yesterday.
The average salary increase is 7.6 percent this year, 0.5 percentage points lower than 2014, the website said in the survey covering 3,241 employers and 4,081 employees.
Salary increase is expected to be at 7.3 percent next year as China’s slower economy continues to cloud companies’ profitability, the survey said.
The manufacturing, energy, chemical and consumer goods sectors are expected to be hit hard because of their overcapacity issues.
In the past year, financial industries led the increase in salary followed by high-technology industries and the bio-pharmaceutical sector.
Financial firms are set to again lead salary rises for 2016 with 8.8 percent.
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