Local employees likely to get pay rise of 2.98 pct in 2024 – Survey

Macau companies are considering a general salary increase of 2.98 percent in 2024, slightly higher than the 2.19 percent pay rise in 2023, according to a survey conducted by local recruitment agency MSS Recruitment.

The ‘2024 MSS & Hello Jobs Macau Salary Increment and Annual Bonus Survey’ was conducted in November 2023, with over 80 organisations responding to the poll.

The results show that the surveyed organisations had an average planned salary increment of 2.98 per cent for the current year.

Meanwhile, the average bonus for 2023 amounts to 1.18 months’ salary, showing an increase compared to the equivalent of 0.77 months’ salary reported in the previous year.

Around 10.67 per cent of respondents said that they had no plan to raise employees’ remuneration, while 12 per cent of the surveyed indicated that they would not provide a bonus for 2023.

Jiji Tu, executive director of MSS Recruitment, described the planned salary increment and the distribution of a bonuse as a “positive indication of renewed cautious optimism in the market.”

Amidst the continuous improvements in the local economy and unemployment situation, local companies, ranging from large corporations to SMEs, are expected to increase pay rises for their employees, matching the 3.3 per cent hike for civil servants.

This week, 5 out of the 6 local gaming operators have unveiled pay rises for their employees, following their earlier announcement of a year-end bonus equivalent to one month’s gross salary.

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