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.

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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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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