Salaries in the PH to Increase by 6.2% in 2024

Mercer’s Total Remuneration Survey of 2023 just revealed that there is a chance that salaries in the Philippines might increase in 2024.

Photo from Mercer

The salary of Filipino employees might increase by 6.2 percent. The increase is because of the demand for skilled professionals, and companies must keep those with competitive talent in the market. Moreover, inflation also plays a huge part.

Photo from Nikkei Asia

According to Mercer, employees who work in the energy sector might get an increase of 7%. However, tech (6.8%), retail (6.7%), wholesale (6.7%), and consumer goods (6.5%)also projected increases.

Photo from The Beat Asia

In addition, Mercer also revealed that the Philippines surpasses the average increase of other Asian countries. India, Vietnam, and Indonesia are also projecting higher salaries in 2024.

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