Survey company ECA International's (world's largest membership organisation for human resources) Salary Trends Survey 2007-2008 found out that workers in Asia can expect the highest salary increases this year.
The results have indicated that Singapore workers could expect salary increases of 5 percent (considered high for a developed economy). ECA International's General Manager Mr Lee Quane said the current fears of a recession in the US would not dampen salary increase projections here.
Due to high staff turnover, companies may have to pay higher than the average increase (5%) to retain key staff.
(source : http://www.channelnewsasia.com/stories/singaporelocalnews/view/323172/1/.html)
As mentioned by Robert Kiosaki in his book, as people earn more, they becomes poorer. With higher pay, people ends up spending more, changing car, changing house, changing lifestyle, etc. This results in larger liability instead of increasing the asset column.
Rather than indulging in better lifestyle and increasing liability, one could ask himself how to they could increase their asset column instead. By investing extra income, we could have grown our asset column and have more to spend later. It pays to delay gratification.
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