SALARY SURVEY 2013 - Robert Walters Singapore

LONDONACCOUNTING&FINANCE-COMMERCE&INDUSTRYLONDONACCOUNTING&FINANCECOMMERCE&INDUSTRYOurcommercedivisionrecruitsacrossabroadrangeofroles,fromnewly-qualifiedandtransactionalstafftochieffinancialofficers,onbothapermanentandcontractbasis.Weservicearangeofbusinesses,fromFTSEandAIM-listedcompaniestoSMEs.Theprimarysectorswespecialiseininclude:• Aerospaceanddefence• Engineering• Healthcare• IT/hi-tech/telecommunications• Leisureandhospitality• Manufacturing• Marketing/PR/advertising• Media• Naturalresources/oilandgas• Not-for-profit• Professionalandsupportservices• Realestate/property• Retail/FMCG• Security• UtilitiesMarketOverviewThejobsmarketremainedchallengingin2012,withbusinessesrelativelyconservativeintheirhiringapproachesbecauseofwidereconomicconditions.However,vacancieswerestillbeingreleasedassomesectorsperformedrelativelystrongly,withdemandexistingatspecificlevels.Inparticular,wesawastrongcommitmenttohireatthejuniorpart-qualifiedlevel.Specifically,creditcontrolprofessionalsandpayrollspecialistsweresought-aftertocoverintenseworkloadsintheseareas.Afterstrippingbacktheiraccounts-payableteamsinrecentyears,somebusinessesweretryingtorebuildthesedivisionsasworkloadsincreased.Financeandbusinessanalystswerealsosought-afteratthislevelasemployerssoughtforward-lookingaccountingprofessionalstoidentifycost-savingandgrowthopportunities.Whiletherewerefewerseniorvacancies,wesawsomepermanentrecruitmentatthemiddlemanagementlevel(i.e.financeprofessionalswith5years’PQE).Inparticular,publishingbusinesseswereprovingtheswitchtodigitalmediacouldbeprofitableandwereseekingfinanceprofessionalswhocouldexploreexpansionopportunitiesinthisarea.Overall,however,mostdemandwasforgroup-focusedroles,withemployersprimarilyconcentratingontheday-to-dayrunningoftheirbusinesses.Mediacompanieswerealsoseekinganalystsonapermanentbasisastheyattemptedtoidentifybusinessimprovementandgrowthopportunitiesthatexistedinthemarket.However,someemployerswerebeingunrealisticinthesalaryofferstheyweremakingfortheseprofessionalswhoweretypicallyawareoftheirworth.Accountingprofessionalswith2-3years’PQEweremostsought-afteronacontractbasis,withemployersespeciallykeentosecurecandidateswithexperienceoftheLondonmarket,reportingexpertiseandstatutoryknowledge.FP&Aspecialistswerealsobeinghiredasemployerssoughtindividualswhocouldsupportbusinessdecisionsbasedonminimisingcost,drivingefficienciesandgeneratingprofitability.Whilewedidnotseenotableevidenceofgrowthwithinlargeremployers,thereweremorepositivesignsintheSMEmarketassmallerbusinessessoughttoexpandtheiroperations.Thiswasparticularlythecaseincompaniesofferingserviceslinkedtosocialmediaortechnologicalimprovementsthateitherdriveefficienciesorofferastrongreturnoninvestment.Forrolesinthesebusinesses,employersweretypicallyseekingprofessionalswhowere1-4years’PQEwithextensivemanagementorfinancialaccountingexperience,aCVthatdemonstratesprogressionthrougoutacareerandastrongeducationalbackground.Inthecontractmarket,assignmentlengthswerelongerthantheyhadbeeninthepastandwerelastingupto18monthsinsomecases.Manybusinesseswerehiringprimarilyonafixed-termcontractandtemp-to-permbasis,reflectingtheincreasedcautionthatexistedinthemarket.Salarylevelsremainedrelativelyconsistent,withnewly-qualifiedACAstypicallycontinuingtoreceive£45-48kayearanddailyratesofaround£250.However,wesawsomeincreasesatthepartandnon-qualifiedlevel,withbusinesseswillingtobeflexibleforqualitycandidates,manyofwhomwerereceivingmultipleofferswhenapplyingforjobs.Toillustratethegrowthinthisarea,apayrollmanagerwillreceiveabasicsalaryofupto£75kin2013(comparedto£70kin2012),whileapayrollofficerwillearnupto£30k(comparedto£28kin2012).Professionalswithspecialistskillsets,suchassystemsaccountantsandinternalauditspecialists,arealsostillcommandingapremium.Outlookfor2013Whilethejobsmarketislikelytoremainchallenging,demandwillcontinueforfinanceprofessionalswhocandriveefficienciesandgenerateprofitability.Inparticular,businesseswillseekprofessionalswhocanassistwithexploringexpansionopportunitiesinthemarket.Asaresult,analystsarelikelytobeindemand.Wealsoanticipatejoblevelsatthepart-qualifiedleveltoremainrelativelyhighasbusinessesseekprofessionalstocarryoutkeytransactionaltasks.LONDONACCOUNTING&FINANCE-COMMERCE&INDUSTRY9RobertWaltersGlobalSalarySurvey2013