Salary Increment Rate

Wondering how much and often a person will have pay increment after confirmed probation? I am about to pass my 6-mth probation in financial industry.

Is there anyone here who actually stuck with same starting pay for a long period of time, let say no promotion?

I graduated from SMU, and was the first batch of students to graduate when it first opened. Now I am a director at the Bank of Singapore, earning 21K p.m.

For most pte companies typical annual increment averages 4% and promotion increment around 10-15%

Originally Posted by Unregistered

For most pte companies typical annual increment averages 4% and promotion increment around 10-15%

Agree, normal annual increment is 3 to 4%. Promotion would probably depends. I got 15% on one occasion and 27% on another occasion. I am not sure how it works but would think it depends on the values you bring and also market/competitor activities as well.

In my company, having a high base pay initially is important because the increment is based on percentage on base pay. So if your base is high but you get low percentage increment, you probably get more in dollar term than someone whose base is low but gets high percentage increment.

Working in a local bank, last year our average increment budget is 6.5%

Originally Posted by Unregistered

Wondering how much and often a person will have pay increment after confirmed probation? I am about to pass my 6-mth probation in financial industry.

Is there anyone here who actually stuck with same starting pay for a long period of time, let say no promotion?

nowadays, i think not many coy practise pay increment after probation. increment usually only if contract convert to perm.

Originally Posted by Unregistered

Working in a local bank, last year our average increment budget is 6.5%

6.5% is UOB i think? THe other 2 banks only 5.5-6%...

SCB & HSBC was 7+% iirc.

Originally Posted by Unregistered

6.5% is UOB i think? THe other 2 banks only 5.5-6%...

SCB & HSBC was 7+% iirc.

SCB starting salary can be <3K. BCap higher starting salary but increment pittance. Was told it can be as little as $40.

Originally Posted by Unregistered

Agree, normal annual increment is 3 to 4%. Promotion would probably depends. I got 15% on one occasion and 27% on another occasion. I am not sure how it works but would think it depends on the values you bring and also market/competitor activities as well.

In my company, having a high base pay initially is important because the increment is based on percentage on base pay. So if your base is high but you get low percentage increment, you probably get more in dollar term than someone whose base is low but gets high percentage increment.

This is a stupid and unfair system, benefitting the higher earners.

Originally Posted by Unregistered

6.5% is UOB i think? THe other 2 banks only 5.5-6%...

SCB & HSBC was 7+% iirc.

The local banks increment have always be steady at around 6-8%