Introduction

SINGAPORE: A bank employee in Singapore has voiced his frustration on Reddit after receiving only a 3% salary increment and a mere 1.44 months' bonus during his year-end performance review—leading to a conversation on what is deemed acceptable in the current job market.

Employee's Frustration

In a post shared on r/askSingapore, the employee shared, "I just received 3% increment and 1.44 months bonus. Is this in line with the industry? My company does not have an annual wage supplement (AWS)." His disappointment is palpable; he had taken on additional responsibilities and new projects over the past year, which he felt warranted recognition and reward.

Performance Appraisal Concerns

Despite his efforts to excel, he was troubled to learn that his performance rating was even lower than the previous year. Moreover, he was not promoted as anticipated. "During the review, I was told that I was shortlisted for promotion, but it seemed to evaporate when someone higher up decided against it, citing my 18 months with the bank," he lamented.

Job Security Worries

His concerns extended beyond just immediate rewards. He worried about the future of his role, pointing out that the bank's operations in Asia were significantly smaller compared to its focus on the American market. "I'm just afraid that the bank will exit the Asian market," he said, expressing genuine concern over job security.

Community Responses

The responses on Reddit were quite telling. Many users recounted similar experiences, agreeing that a 3% increment is typical for the Singaporean market—especially in cases where no promotions are involved. "Sounds about the same for my increment and bonus," one user noted, adding, "Promotion would likely net you an increase of 10-20%, but that's not tied to performance alone."

Conversely, several commenters expressed that the employee's bonus seemed disproportionately low given his extra efforts. "For banks, a 3% increment and a 1.44 months bonus is quite bad. Even the government minimum is usually three months for average performers," another Redditor pointed out. They even suggested he should start job hunting now, indicating that finding a new position could align with his two-year mark at the bank.

Broader Implications

In another case that went viral, a technician with nearly five years of service reported feeling undervalued after noticing that new employees were receiving more substantial salary increments—$200 after three months of probation—while his own increases were significantly less.

This situation sheds light on a larger issue that many workers face today: the struggle for fair compensation in an evolving job market. While traditional meritocracy suggests that effort is rewarded, the reality may differ based on internal policies, market dynamics, and company priorities.

Conclusion

As professionals reconsider their current positions in light of these challenges, it begs the question—are you being adequately rewarded for your hard work? If you're facing similar frustrations, now may be the time to reevaluate your options.