SALARY SURVEY 2013 - Robert Walters Singapore

Overall hiring volumes wererelatively high in Singapore in 2012.The FMCG, chemicals,engineering, manufacturing,retail, logistics, oil and gas and ITsectors were particularly activedue to a combination of a steadyflow of replacement hires, businessgrowth and Singapore remaininga top choice among internationalfirms as a regional hub.However, global marketuncertainty had a notableeffect on the Singapore market.In particular, job levels fellconsiderably in the financialservices sector during the secondhalf of the year and redundanciesoccurred at all levels. In particular,many investment banking backoffice roles were relocated tolower cost locations. However,professionals specialising inproduct control, transactionbanking, project management,credit risk, compliance, auditand legal were still highly soughtafterdue to regulatory changesand Singapore continuing tomature as a financial serviceshub. For these positions, firmsplaced a significant emphasison local talent or Singaporereturnees due to their knowledgeof the local market, culture andnetwork of contacts across Asia.Similarly, an increasinglycompetitive business climatewithin the information technologyand telecommunicationssectors led these organisationsto run lean operations as theysought to cut costs. Largesystems integrators andtelecommunications companiesbuilt offshore offices in lowercost locations, in particular,large data centres, applicationdevelopment and supportfunctions were shifted tocountries such as Malaysiaand India. While we saw fewerlarge IT infrastructure projectsimplemented in 2012, theoutlook for 2013 remainsoptimistic due to anticipatedrefresh programmes.Despite a generally conservativehiring climate, government-linkedorganisations, commoditiesfirms and insurance companiescontinued to recruit keyprofessionals for a combinationof replacement hires andgrowth opportunities.There was also increased demandfor contractors as hiring managersfound it difficult to gain approvalfrom head office for permanenthires. Due to this increaseddemand, professionals weremore open to a range of positionsas they sought to gain variedindustry experience.In 2013, firms within thechemicals, pharmaceuticaland medical devices sectorsare likely to hire to supportbusiness growth. Among thesebusinesses, there will continueto be demand for sales andmarketing professionals andgeneral managers with profit andloss experience and the abilityto generate revenue. We alsoanticipate increased job levels inthe technical healthcare space,with high demand for regulatoryaffairs, pharmacovigilance,medical representatives andclinical research professionalswith the prerequisite scientificrelateddegrees as Singaporeaims to establish itself as amedical hub for the region.However, we anticipate thatrecruiting high-calibre localcandidates will continue to bechallenging as the local talentpool remains limited. Because ofthese shortages, talent retentionand attraction is likely to becomeincreasingly important foremployers looking to sustaintheir long-term growth plans.SingaporeRobert Walters Global Salary Survey 2013 2012