Job Seeker Salary Report 2020

In this year’s game-changing employment landscape, should we hold our breath on a pay raise? New indices are surfacing for 2020 salary index and average salary across all positions. Take a dive into the latest salary data and evaluate the new hiring market in 2020.

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Key Findings in 2020 Salary Index Report

In March 2020, JobsDB surveyed over 4,000 employees of 244 positions across 30 industries.
As of 1 March 2020, the average salary increase for full-time employees was 1.3%, a 3.8% drop compared to the same period in 2019 Job Seeker Salary Report. Among the surveyed full-time employees, only 50% received a raise, while 40% had their salary frozen, and 10% a decrease.
JobsDB salary index in 2020 reveals that employees aged under 25 and between 26 and 30 years of age received the most salary increase, at a rate of 3.2% and 3.1% respectively. Employees over the age of 40, however, have seen a decrease in their salary.
What are the three types of jobs that received the most salary increase in 2020, then?
IT (+6.1%),Strategic Analytics (+5.8%), and Education (+4.6%). At the other end of the spectrum, these three types of jobs experienced a salary decrease: Retail and Sales (-8.9%), Hospitality/Tourism (-8.1%), and Food and Beverage(-1.2%).
According to the Job Seeker Salary Report 2020, 51% of employees received an average of 1.4 months of performance bonus, with those in these four industries receiving the most bonus: Finance (2.1 months), Banking (1.9 months), IT (1.8 months), and Project Management (1.8 months).
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As an HR leader/hirer, you would naturally want to know the latest salary index and trends in 2020 to better strategise for your upcoming hiring initiatives.
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Overall average percentage of monthly salary adjustment over the years from previous "Job Seeker Report"

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According to the latest Job Seeker Salary Report , what do our surveyed employees think about the employment prospect of 2020?

75% are pessimistic
20% are neutral
only 5% demonstrating optimism

Pessimism Explained in 2020 Job Seeker Salary Report

There are three major reasons behind employees’ pessimistic view of the employment prospect in 2020:

Possibility of economic recession due to socio-economic factors and the pandemic
78%
External uncertainties
67%
Foreseeable closure of local companies
61%

In face of the disconcerting employment prospect, 84% of employees are planning the following coping mechanisms:

Cost-cutting and saving for a rainy day
40%
Reskill with new technology for career transition
31%
Increase income by joining the part- time/freelance economy
28%
Switch to a company with better job security
27%
Sign up for continuous learning
23%
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