Pay Gap Between Senior And Junior Employees In Singapore Has Increased
According to organisational consulting firm Korn Ferry, the pay gap between low-level employees and senior managers has increased 12.1% from 2008 to 2017. The increase is among the largest in the region, with India showing the largest gap of 66%.
Pay gaps are calculated by dividing the typical salary for people at senior management levels by the salary of people at entry-level job.
The abundance of workers at entry level due to automation and offshoring have greatly affected the pay rises. On the contrary, the shortage of skilled and experienced employees in science, technology, engineering and mathematics have induced demand.
Some of the soft skills that are in demand:
- Emotional intelligence
- Creative thinking
- Managing abilities
Globally, the pay gap has increased in 77% of the 58 countries studied and Bahrain has the most large gap increase of 117.76%.