SALARY SURVEY 2013 - Robert Walters Singapore

The Australian economy provedrelatively robust in early 2012and headline figures remainedcomparatively healthy in contrastto many other countries. However,a combination of the slowdownof the mining and resourcessector, the Chinese economicdeceleration and the affectsof global economic uncertaintyeroded business confidence.The well-publicised slowdownof the resources sector led thegovernment to review its ownrevenue forecasts, which affectedmomentum and sentiment in thewider economy. Concerns overthe costs of major mining andresources activities led manyorganisations to re-evaluate localinvestments, leading to projectsand hiring being put on hold. Thistrend was particularly exaggeratedin Queensland as the new Stategovernment implemented costand investment cutting measures.The Australian market will continueto be influenced by internationaltrading conditions in 2013.However, there are indications ofrecovery in the resources sectoras projects put on hold in 2012are restarted. This is likelyto have a positive effect on thewider economy, leading toincreased confidence in all areas.Despite difficult trading conditionsin 2012, even slight increasesin momentum should lead toincreased recruitment in 2013.AustraliaThese tough trading conditionsled to limited growth in the financialservices and property sectors,both traditionally major employers,resulting in reduced hiring activity.Recruitment processes alsolengthened, especially at seniorlevels as organisations becamemore cautious and therefore tooklonger to sign-off new roles andapprove increased headcount.Robert Walters Global Salary Survey 2013 2012