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SEOUL, S.KOREA, Aug 29, 2013 - (ACN Newswire) - More than three in four professionals in Korea received salary rises in 2013 according to the Employee Insights Survey 2013. The Survey examined the sentiment of bilingual professionals in Korea for their careers, progression opportunities and globalisation. The industry with the most professionals that received salary increases was the manufacturing sector, while information technology respondents were the largest group to receive salary decreases.
In a sign that salaries in Korea are on the rise, three in four respondents polled in the Survey (75.4%) received salary rises in 2013. More than half of all bilingual professionals (57.4%) received rises up to 10% and almost one in five workers (18.0%) received increases over 10%. Conversely less than one percent (0.8%) of professionals received salary decreases from 0-10% this year, while salaries for 2.5% of workers fell by over 10% according to the Survey. Pay for one in five bilingual workers in Korea (21.3%) remained unchanged from 2012.
Anthony Modrich, Country Manager for Robert Walters Korea comments:
"Employer demand for highly skilled, bilingual Korean professionals continues to intensify the talent shortage in Korea across a number of industries and disciplines. Many workers received salary rises when switching companies, with employers generally prepared to offer increases to attract professionals for both newly created and replacement roles. Additionally many employers also offered company wide annual pay increases."
The 2013 Survey also notes that the highest proportion of professionals that received salary increases worked in manufacturing, consumer goods and information technology. In contrast, workers that received a pay reduction likely belonged to companies in the IT, financial services and consumer goods industries.
Modrich explains:
"Historically, manufacturing-related positions have been amongst the roles which see the lowest staff turnover. However, turnover is growing as manufacturers seek to hire additional highly skilled industry specialists, and employees become more aggressive in managing their own career paths. This has led to a corresponding increase in salaries, both to attract and retain staff.
Interestingly, we have seen the widest salary variations, both increases and decreases, within the IT & consumer goods industries. This trend reflects large differences in the financial performances for these companies, which have become more pronounced in times of economic uncertainty."
Which best reflects your change in salary from 2012?
-- Decreased more than 10% (2.5%)
-- Decreased 0-10% (0.8%)
-- No change (21.3%)
-- Increased 0-10% (57.4%)
-- Increased more than 10% (18.0%)
Top 3 industries with salary increases:
1. Manufacturing
2. Consumer Goods
3. Information Technologies
Top 3 industries with salary decreases:
1. Information Technologies
2. Financial Services
3. Consumer Goods
Download the full Employee Insights Survey 2013 report at http://bit.ly/2013_EIS_kr.
About the Employee Insights Survey
The Robert Walters 2013 Employee Insights Survey provides a unique snapshot into worker sentiment in Korea. This edition polled over 100 professionals and examines their motivations and concerns in a rapidly globalising Korean market.
Contact:
Anthony Modrich, Korea Country Manager
t: +82 (0)2 6030 8810
e: anthony.modrich@robertwalters.co.kr
Ambrose Lau, PR Specialist
t: +81 (0)3 4570 1513
e: ambrose.lau@robertwalters.co.jp
Topic: Research / Industry Report
Source: Robert Walters
Sectors: E-commerce, Daily News, HR
https://www.acnnewswire.com
From the Asia Corporate News Network
Copyright © 2024 ACN Newswire. All rights reserved. A division of Asia Corporate News Network.
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