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SALARY SURVEY 2013 - Robert Walters Singapore

SALARY SURVEY 2013 - Robert Walters Singapore

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SEOULSEOULSEOULACCOUNTING&FINANCEACCOUNTING&FINANCEWeplaceaccountancyandfinanceprofessionalswithincompaniesofallsizesacrossthebankingandfinancialservicessectorandwithincommerceandindustry.FinancialServicesMarketOverviewJoblevelswithinthebankingandfinancialservicessectorremainedverylowin2012,withcompanieshiringpredominantlyonareplacementbasis.Becauseofthis,professionalswerereluctanttochangeroles,preferringthesecurityoftheirexistingrole.Wherehiringdidtakeplace,employersscrutinisedeachhireandthisledtorecruitmentprocesseslengthening.Koreanfirmstypicallysoughtprofessionalseitherwithoverseasexperienceorknowledgeofworkingwithleadingmultinationalstoassistwithinternationaloperations.Thoughoverallrecruitmentlevelsremainedlow,insurancefirmswererelativelyactiveinthejobsmarket.Multinationalbusinessesinthisareasoughtprofessionalswithinternationalexperiencewhentheyhadtoreplacestaffwhohadresigned.Salariesremainconsistentwith2012levelsthoughprofessionalschangingcompaniesreceivedmodestincreasesof10-15%.Outlookfor<strong>2013</strong>Weanticipatefewsignificantchangestothebankingandfinancialservicesjobsmarketin<strong>2013</strong>,whichislikelytoremainchallenging.Recruitmentlevelswillremainlow,withthemajorityofhiringonareplacementbasis.Inkeepingwiththistrend,weanticipatethatsalarylevelswillremainstable.Commerce&IndustryMarketOverviewAccountancyandfinancejoblevelsremainedrelativelylowacrossmostcommercialandindustrialcompanies,withthemajorityofhiringonareplacementratherthangrowthbasis.Fast-movingconsumergoods(FMCG)andretailcompanieswerethemostactiverecruiters,althoughjoblevelswithinthehealthcaresectorwerealsorelativelyhigh.Wesawsignificantdemandforaccountantswithspecialisedfinanceskillsets,particularlytaxaccountingandfinancialplanningandanalysis(FP&A),whilespecificindustryexperienceandknowledgeremainedkeyformostemployers.Withbudgetsrelativelytight,companiesalsosoughtcandidateswhocouldperformtasksaboveandbeyondtypicaltransactionalaccountingduties.Forexample,retailerslookedforaccountantswithstoreaccountingandinventoryexperience,whilemanufacturershiredfinanceprofessionalswithexposuretodistributionandcostaccounting.Wesawnotabledemandattheseniorlevelasemployerssoughttoup-skilltheirfinancefunctions.Fortheseroles,firmstypicallyrequiredcandidateswhohadpreviouslyworkedinaregionalcapacityorplayedasignificantrolewithinaregionally-basedteam.Whilejobseekerlevelsremainedrelativelyhigh,competitionremainedstrongforbilingualprofessionalsatthemid-levelwithexperienceofworkingformultinationalcompanies.Themajorityofsalariesremainedstable,althoughprofessionalstypicallyreceivedincreasesof10-15%whenmovingjobs.Outlookfor<strong>2013</strong>Weanticipatethatoveralljobtrendswillremainsimilarin<strong>2013</strong>.Specifically,companieswillcontinuetoseekcontrollersandseniorlevelprofessionalswithregionalandglobalexperiencewhenreplacingdepartingstaff.Employerswillalsocontinuetorequireprofessionalswithspecialisedindustryknowledgeandstrongplanningandanalysisskillstoassistwithbothstrategicandtransactionalaccountingtasks.ACCOUNTING&FINANCEROLEPERMANENT<strong>SALARY</strong>PERANNUMWONANALYST/TEAMLEADER AVP/MANAGER VP/HOD2012 <strong>2013</strong> 2012 <strong>2013</strong> 2012 <strong>2013</strong>Banking&FinancialServicesCompliance W40-50m W40-50m W60-100m W60-100m W135-180m+ W135-180m+ProductControl W40-60m W40-60m W70-90m W70-90m W100-150m+ W100-150m+Market/Credit/OpsRisk W40-60m W40-60m W60-80m W60-80m W120-180m+ W120-180m+FinancialControl&Tax W40-60m W40-60m W60-80m W60-90m W90-150m+ W90-150m+Settlements&Processing W40-60m W40-60m W60-80m W60-80m W90-140m+ W90-140m+ManagementReporting W40-60m W40-60m W60-80m W60-80m W90-120m+ W90-120m+MiddleOffice&TradeSupport W35-50m W35-50m W60-80m W60-80m W90-120m+ W90-120m+NB:Figuresarebasicexclusiveofbenefits/bonusesunlessotherwisespecified.397<strong>Robert</strong><strong>Walters</strong>GlobalSalarySurvey<strong>2013</strong>

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