SALARY SURVEY 2013 - Robert Walters Singapore

KUALALUMPURKUALALUMPURACCOUNTING&FINANCEKUALALUMPURACCOUNTING&FINANCEACCOUNTING&FINANCERobertWaltersGlobalSalarySurvey2013333Ouraccounting&financedivisionrecruitsfinanceprofessionalsacrossalllevelsforthecommercesector.Keysectorswerecruitforincludemanufacturing,engineering,oilandgas,FMCG,retail,telecommunications,informationtechnology,mediaandbroadcasting,marketresearch,realestate,education,pharmaceuticals,professionalservicesandhealthcare.Theroleswespecialiseinrangefromtypicalaccountingrolestopositionssuchasfinancialplanningandanalysis,corporatefinance,internalaudit,tax,systemsaccountingandprojectfinancing.OurestablishedclientbaseincludesMalaysianandmultinationalcompanieswithlocalandregionalrecruitmentneeds.MarketOverviewAsmultinationalbusinessescontinuedtoseethestronggrowthpotentialinAsia,MalaysiabecameakeylocationforinvestmentduetoitscombinationofaffordablelabourandanavailabletalentpooloftechnicalaccountingprofessionalswithEnglishproficiency.AstheseforeigncompaniessetupinMalaysia,wesawnotabledemandforaccountingandfinanceprofessionalsinthefirsthalfof2012,withjoblevelsincreasingfurtherinthesecondhalfoftheyearasprofessionalsbecameincreasinglyeagertomoveroles.Inparticular,manyfirmssetupasharedservicefunctioninAsiawhichgeneratedasubsequentincreaseindemandforaccountantswithsharedservicesexperience.Companieswithinthemanufacturing,oilandgas,retailandFMCGsectorshiredmostactively.Rolesbeinghiredforincludedheadsoffinance,chieffinancialofficersandmanagementaccountantstoleadnewofficesetups.Analyticalvacanciesalsoaroseasbusinessesexecutedgrowthplansandenterednewmarkets.Inparticular,commercially-mindedaccountantswereindemandasfirmssoughttalentedprofessionalswhocouldaddvaluetotheirbusiness.Theseaccountingindividualswereexpectedtoworkcloselywithotherdepartmentstohelpinterpretfinancialfiguresforbusinessstrategies.Professionalswithoverseasworkexperienceandadvancedqualifications,suchasACCA,CIMA,CPA,MIAoranMBAwerehighlysought-after.However,theseprofessionalswereparticularlycautiousaboutmovingduringthefirsthalfoftheyear.Mostprofessionalswhostayedintheirexistingjobssecuredsalaryincreasesofaround5-7%.Whenseekingtoattractcandidatestonewroles,employershadtooffercompetitivepackagesinordertosecurethebesttalent.Mosttypicallyreceivedsalaryincreasesof20-25%whenmovingroles.However,candidatesalsosoughtotherbenefitssuchascareerprospects,internationalexposureandpotentialforrotationwithinthecompanywhenconsideringnewopportunities.Overallcompetitionfortalentwasintensewithemployersfightingtoretainandattractthebestprofessionals.Outlookfor2013WiththeMalaysianeconomydependantmostlyonitsownnaturalresourcesandinternationalbusinesseslookingtoexpandintothecountry,itislessimpactedbyglobaleconomicuncertaintythanotherlocations.Asaresult,weexpectjoblevelstoremainrelativelyhighanddemandforprofessionalstoremainconsistentfrom2012.Duetocontinuedcompetitionfortalent,jobmoversarelikelytocontinuetoreceiveincreasesof20-25%.WithmorebusinesseskeentotradewithChina,professionalswithMandarin-speakingcapabilitiesarelikelytobeindemand.Firmswillbekeentohireemployeeswithstrongregionalexposureandanunderstandingoftechnicalaccountingchallengesacrosstheregion.Asin2012,generalsalarylevelsarelikelytoincreaseatastablerate.However,roleswhichareinnotabledemandarelikelytoreceiveaboveaveragerises.Forexample,salariesforfinancemanagerswith4-6years'PQEwillrisefromRM105-150kin2012,toRM120-168kin2013.