A Survey : Inflation Outpaces Employees Salary Increases “The Nation 22-06-2011”

Inflation outpaces employees salary increases “The Nation Dated 22-06-2011”
LAHORE (June 22, 2011) – A survey conducted by Rozee.Pk, Pakistan’s leading job portal, and international research company, YouGov, reveal that the majority of working Pakistanis believe cost of living has increased more than their salaries over the past one year. Moreover, almost half have no household savings and one-third save less than 10pc of their annual household income.
Three quarters of respondents (75pc) claim their cost of living has increased by more than 15pc in the past 12 months and 75pc of respondents feel they received pay increases that are less than the increased cost of living.
Interestingly, almost three quarters of the respondents (74pc) feel they deserve to get a salary increase of 16pc or more and over a third (37pc) expect they will get a raise of more than 15pc in the next 12 months. At the same time, two in five (41pc) of respondents feel there is an excess supply of talent in the job market, which suggests employees will be fortunate to receive salary increases of this level.
The survey also reveals 24pc of respondents did not receive a salary increase in the last 12 months. However, despite these findings, respondents are evenly split in terms of how satisfied they are with their raise this year – 30pc are happy with their salary increase against 34pc of respondents who are unhappy with their raise.
According to the survey, increased costs in food and petrol are perceived as the primary contributors to the rise in cost of living. Despite tightening economic conditions, however, only 11pc of the respondents feel the quality of their lives is worse than before.
The survey also reveals almost half of those polled (41pc) do not save anything from their household income, and 34pc of respondents claim they only save 10pc or less. While older respondents (aged 40 years or older) are more likely to save than other ages, the survey reveals they are saving a lower proportion of their total salary than other savers.

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