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SALARY SURVEY 2013 - Robert Walters Singapore

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BANGKOKBANGKOKBANKING&FINANCIALSERVICESBANGKOKBANKING&FINANCIALSERVICESBANKING&FINANCIALSERVICES<strong>Robert</strong><strong>Walters</strong>GlobalSalarySurvey<strong>2013</strong>411Ourbanking&financialservicesdivisionrecruitsexperiencedprofessionalsforbankingandfinancialservicesorganisations.Wecoverafullspectrumoffront,middleandbackofficeroles,includingfinance,creditrisk,marketrisk,compliance,operationalrisk,auditandoperations.MarketOverviewInanincreasinglycompetitivemarket,banksfoughttogainmarketsharebyfocusingondevelopingcustomisedproducts.Creditriskspecialistswereparticularlysought-afterasbanksappliedmorecreditriskpoliciestomanageriskexposure.Theyalsohiredinsignificantnumbers(withanincreasefrom2011)fortheirgrowingSMEandconsumerbankingunits.Thismeantthatprofessionalswithclientrelationship,productspecialisationanddevelopment,aswellasriskmanagementexperiencewereinhighdemand.Asfirmsfacedincreasingcompetitionandsoughttodifferentiatetheproductsandservicestheyoffered,customerloyaltyremainedattheforefrontoftheirbusinessstrategiesthroughouttheyear.Asaresult,manyorganisationsprioritisedhiringandretainingrelationshipmanagerswithstrongcustomerbonds.Candidateswereopentojobopportunitiesassalarylevelsdidnotincreasesignificantlyfrom2011.Ingeneral,salariesroseby10-15%formostjobfunctionsandprofessionalswhoswitchedjobstypicallyreceivedincrementsof15-25%.Outlookfor<strong>2013</strong>WiththeproposedintegrationofThailandintheAseanEconomicCommunitybyearly2015,employersaregearingupforchangesbyrecruitingriskandoperationsprofessionals,aswellasspecialistswithmergersandacquisitionsandinvestmentbackgrounds.Asconsumerspendingrises,banksarelikelytocontinuehiringfortheirSMEandconsumerbankingunits.Relationshipmanagerswillremainhighlysought-afterasbanksfocusongrowingtheirrevenue-generatingfunctions.Weexpectmoderatelevelsofrecruitmentasthebankingspacecontinuestodevelopandgrow.Salarylevelsarelikelytoremainsimilarto2012andprofessionalswillchangejobsforbetterremuneration,potentiallyreceivingincrementsaveraging15-25%whentheymove.However,withrumouredheadcountfreezeswithinbanksduetotheglobaleconomicuncertainties,employeesmaybecomemorecautiousaboutmoving.

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