Philippine companies seen to hike salaries by 6.1% this year

Companies in the Philippines are projecting an overall average salary increase of 6.1% in 2023, according to the Salary Budget Planning Report by global advisory, broking and solutions company WTW. This was a bit higher than the actual 5.8% salary hike in 2022. The projected average salary rise in the country is the ninth highest out of the 26 Asia-Pacific markets included in the report.