Less than 5% pay rise for Thai employees this year

According to Aon Plc’s latest survey, Thai employees are set to experience a modest 4.9% pay rise this year, trailing behind their regional counterparts.

The forecast anticipates a slight uptick from 4.7% last year but still falls short of the salary growth expected in Indonesia (6.5%), the Philippines (5.5%), and Malaysia (5%). Meanwhile, Singapore is projected to witness a 4% increase in wages.

In contrast, Vietnamese workers are in for a pleasant surprise, with a projected salary rise of a whopping 8% this year, up from 7.5% in 2023 according to the survey.

Aeon attributed the modest growth in Thai workers’ pay to the slowdown and uncertainty in the country’s economy. Rahul Chawla, Aeon’s head of Talent Solutions for Southeast Asia, highlighted the challenge many businesses face in adjusting employee salaries to remain competitive. He suggested…