The average salary growth by industry last year reached 14 percent, as nearly half of the job posts showed an increase in compensation, according to a report by JobStreet.
According to Salary Report 2022, some 49.7 percent of the local job ads in JobStreet’s portal offered higher salary last year.
This puts the Philippines in the same league with Singapore. The country has also outperformed Malaysia, Thailand and Hong Kong.
Meanwhile, 35.9 percent of the job ads offered lower salary and 14.4 percent was status quo in terms of compensation.
The top industries that saw pay hikes include education, public service, social services, electrical/electronics, computer/information technology (IT), marketing and advertising, telecommunication, healthcare, construction and building and communication service.
“Communication Service, Computer/IT, Education, Public Service, and Telecommunication are also in the countries list of increased salaries by industry comprised of Singapore, Indonesia, Thailand, Malaysia, and Hong Kong,” JobStreet said.
Meanwhile, those with pay cuts came from the following sectors: oil and gas, hospitality, industrial machinery and equipment, communication service, consumer goods, science and technology, banking and finance, property and real estate, retail and trade and insurance.
In terms of salary offering, telecommunication (P20,000), computer/IT (P19,550) and communication service (P19,500) topped the list for entry level jobs.
Computer/IT also has the highest salary for junior executive role at P40,000, followed by consulting at P30,000.
In supervisory positions, computer/IT still led the roster with P75,000. Next to this is consulting again at P62,500.
Communication service offers the highest salary for managerial roles at P80,500. Computer/IT came next with P80,000.
For C-Level positions, communication service and insurance were on top of the list with salary amounting to P175,000. Following them are hospitality and manufacturing with P172,500.
JobStreet, in the same report, also revealed Hiring Action Plan 2022, which includes, leveraging “key attractors,” including job security, work-life balance, good relationship with superior and colleagues and career development.
“Job security is the most important driver in the Philippines. As salaries become more competitive on the road to recovery, companies should understand candidates more to maintain an edge over competitors,” it said.
The study covered salary data during the first to third quarters of last year using median values for analysis.
