Despite the slight uncertainty in the economy and job market due to geopolitical issues, employees in Singapore are still in a favourable position to gain at least a 4% salary increment in 2024. A recent study by the Singapore Business Federation’s (SBF) on Manpower and Wages has also found that as many as 64% of small and medium enterprises (SMEs) and large companies across all major industries have planned to increase wages by an average increment of 6%, which way to get around the rising inflation which is trending at 4% for the whole of 2023. That said, how will you make the most of your next salary increment or pay raise if you receive one? Related: Five Salary Negotiation Tips for Your New Job Source: Pexels What To Do With Your Pay Raise or Salary Increment – Spend, Invest or Save? Most people may choose between investing it to protect the value of their money, saving it for rainy days