The MEF Salary Survey for Executives and Non Executives 2018 reports were the twenty fourth edition in the annual series of salary survey reports since 1995. The reports of the salary survey offered insights into trends of the current compensation mix and provides a comprehensive overview of salaries, increases and bonus benchmarked against the various industries. The salary survey was participated by 242 companies from manufacturing and non manufacturing sectors covering 160 benchmark positions of 14,330 executives and 109 benchmark positions of 32,464 non executives. The Reports also included a special section which focused on the issues relating to discrimination at the workplace and the best practices in adopting anti discrimination policy and the employment of PWD.
The highlights of the findings of the survey included:
- average salary increases for executives and non executives in 2018 were lower at 4.88% as compared to the previous year (executives: 5.55%; non executives: 5.44%).
- overall average forecasted salary increase for 2019 for executives was 4.86% while the average forecasted salary increase for 2019 for non-executives was 4.89%.
- average forecasted bonus for executives for 2019 was 2.06 months compared to the 2.18 months of actual bonus granted in 2018.
- average forecasted bonus for non executives for 2019 was 1.97 months compared to the 1.95 months of actual bonus granted in 2018.
- more than 60%of the respondent companies indicated that they have procedure for reporting discrimination issues at their workplaces for executives as well as non executives.