SALARY SURVEY 2013 - Robert Walters Singapore

With inflation continuingto average 7% annually, theeconomy was a key concernin Vietnam in 2012. In responseto the challenges presentedby this issue, the governmentunveiled a new “three pillar”economic programme in early2012 aimed at restructuringpublic investment, state-ownedenterprises and the bankingsector. Both organisationsand professionals remainedcautious about the jobs marketas they observed theseeconomic changes.Professionals working withinthe FMCG, healthcare, industrialand chemicals industries wereparticularly sought-after dueto the global financial crisis andits impact on the banking sector.We saw notable demand foraccounting professionals withACCA or CPA qualifications atall levels. This demand waslargely as a result of the rapidgrowth of organisations inVietnam as these new businessessought to comply with financialregulations. Sales and marketingprofessionals and HR candidateswere also highly sought-afteras companies concentrated onhiring professionals who couldgenerate revenue.In addition, supply chain andengineering professionals werein demand in the first half of theyear, particularly within thetechnical, engineering andmanufacturing sector. Inparticular, companies recruitedproject engineers and production,procurement, inventory andquality managers as they soughtto improve the efficiency oftheir factories. However, we sawdemand decrease in the secondhalf of 2012 as productionnumbers fell.In line with high inflation rates,professionals typically receivedsalary increases of 15-25%when moving jobs as employerscompeted to attract thebest talent.By comparison, job levels wererelatively low within the financialservices, IT and propertyorganisations as theseemployers started to implementheadcount freezes due to theuncertain global economicenvironment. Most of these firmsinstead focused on maintainingand preserving their existingrevenue and customer base.Although economic growth inVietnam remains moderate withforeign direct investment (FDI)falling year-on-year, the countryremains a popular market forforeign investors. The countryattracted nearly US$1.7 billionin FDI in November 2012, up8% from the same period theprevious year. Given thesedevelopments, we expect joblevels to increase in 2013 asthe economy begins to stabilise.VIetnamRobert Walters Global Salary Survey 2013 2012