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Survey Summaries


MEF Salary Survey for Executives and Non Executives 2020
Published on 9 February 2022
 
 
The MEF Salary Survey Reports for Executives and Non Executives 2020 which were in twenty-sixth edition, provided comprehensive and strategic overview of salaries, annual increments and bonuses. The Reports were participated by 226 companies from manufacturing and non manufacturing sectors. The Executives report covered 179 benchmarked positions of 20,733 Executives while the Non Executives’ report covered 64,625 Non Executives with 138 benchmarked positions.
 
Highlights of the MEF Salary Survey for Executives and Non Executives in 2020 were:
 
  • The average salary increase for Executives in 2020 was 4.82% which was lower as compared to 5.15% in 2019.  The average salary increase for Non Executives in 2020 was also lower at 4.79% as compared to 4.96% in 2019.
  • The overall average forecasted salary increase for Executives in 2021 was 4.59% while the average forecasted salary increase for Non Executives in 2021 was at 4.57%.
  • The actual bonus granted for Executives in 2020 was 1.94 months while Non Executives were granted actual bonus of 1.65 months in 2020.
  • The average forecasted bonus for Executives in 2021 was 1.75 months while the average forecasted bonus for Non Executives in 2021 was 1.57 months
  • On the impact COVID-19, about 37% of the respondent companies indicated that they have reached the critical point of survival before June 2020 while another 32% of the respondent companies expected to reach the critical point sometime in 2021.
  • More than half of the respondent companies adopted hiring freeze of Executives and Non Executives in 2020 to cope with the impact of COVID-19 pandemic while approximately 38% of the companies maintained their recruitment practices.
 

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