The MEF Salary Survey for Executives was participated by 227 member companies whilst the MEF Salary Survey for Non Executives was participated by 224 member companies. For the MEF Salary Survey for Executives, 15,708 salary data of executives covering 140 benchmark positions were collected from both manufacturing and non manufacturing sectors whilst the salary data for Non Executives salary survey was collected from 37,727 non executives covering 109 benchmark positions.
The average salary increase for Executives in 2014 was 5.53 per cent while for Non Executives, the average salary increased in 2014 was at 5.43 per cent. The average actual bonus granted for Executives in 2014 was 2.20 months while the average actual bonus granted for Non Executives was 1.92 months.
The 20th edition of the salary reports also included a specific section on employees’ skills development. 59.3 per cent of the surveyed companies indicated that their newly recruited Executives lacked leadership skills followed by job specific skills (58.2 per cent) and English oral communication skills (55 per cent). 56.6 per cent of the participating companies’ newly recruited Non Executives lacked technical skills followed by English oral communication (53 per cent) and job specific skills (53 per cent).