THURSDAY, March 28, 2024
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Wages go up across the board: survey

Wages go up across the board: survey

WORKERS with vocational degrees enjoyed the highest average wage increase in the past seven years, according to a joint survey by Sripatum University and the Federation of Thai Industries (FTI).

 Between 2009 and 2015, the average income for those with vocational certificates jumped by 57.85 per cent from Bt6,411 to Bt10,120, said Praphan Chaikidurajai, director of SPU’s master of science in human resource management.
Those with high vocational certificates had a 53.32 per cent wage increase – Bt7,425 to Bt11,384. 
Holders of bachelor’s degrees had a 41.59 per cent increase – Bt10,941 to Bt15,491.
The average pay for someone with a master’s degree rose 24.16 per cent – Bt16,952 to Bt21,047. 
The university researcher did not reveal the reasons for the increases. 

Wages go up across the board: survey

During the past seven years, Thailand’s minimum wage rose to Bt300.
That ensured a minimum monthly wage of Bt9,000 for unskilled labour, forcing all employers to raise the wages of skilled labour.
Pongdet Sriwachirapradit, vice chairman of FTI’s Human Capacity Building Institute, revealed that the average wage for high-level company executives was Bt140,957, dropping to Bt68,201 for middle-level executives and Bt35,554 for primary-level executives. 
The average salary for experienced professionals rose to Bt156,599 for high-level executives, to Bt79,245 for middle-level executives and to Bt40,386 for the primary-level executives.
The annual survey, conducted on 110 businesses in 11 industries in June, also found that salaries were set to rise an average 5.04 per cent this year and the average bonus would be 2.3 months. The autoparts industry aimed to give the highest average bonus – seven months. 
Almost half or 48 per cent of the surveyed businesses considered bonus payments based on a workers’ performance, performance and experience (28 per cent) and a blanket bonus of 19 per cent. 
The average staff turnover rate was 12.27 per cent and the most cited reasons for staff leaving a company was to get better wages and welfare, a work-related disgruntled feeling and a work relationship. The survey found that many businesses met the legal welfare requirement and some went beyond it. 
Ninety-two per cent of the companies provided uniform welfare, 90 per cent provided death compensation, 87 per cent had an infirmary/clinic and 82 per cent provided group accident insurance. 
 
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