SALARY SURVEY 2013 - Robert Walters Singapore

BANKING&FINANCIALSERVICESHOCHIMINHCITYHOCHIMINHCITYBANKING&FINANCIALSERVICESOurbanking&financialservicesdivisionrecruitsmidtosenior-levelfinanceprofessionals.Weproviderecruitingsolutionsforbothlocalandinternationalbankinginstitutions.Someoftheroleswerecruitforincludetransactionbankingspecialists,internalauditmanagers,retailbankingspecialists,financeandaccountingassistantmanagers,seniorinvestmentmanagers,creditcardproductmanagers,generalaccountantsandbranchofficemanagers.MarketOverview2012startedwithrelativelylowlevelsoffrontandmiddleofficehiring,withmoderatedemandforriskprofessionalsandrelationshipmanagersduetotheglobalfinancialcrisis.However,thebankingsectordisplayedpositivegrowthfromquartertwo,withslowbutsteadydemandforretailbankingprofessionals.Branchmanagers,retailbankingmanagersandheadofoperationswerelargelyhiredonareplacementbasis.Overall,thebankingandfinancialservicessectorstartedoffslowinthefirsthalfbutprogressivelyincreasedinthesecondhalf.Employerssoughtprofessionalswithnotonlytherightqualifications,butalsopositiveworkattitudes.Candidatesweremostwillingtomoveiftheyreceivedanofferfromaninternationalbank,butremainedlukewarmtojoboffersfromlocalbanksduetolimitedgrowthopportunities.Generalsalarylevelsrosebyseven to 10%during theyear,matchingVietnam'sinflationlevels. However,professionalswhochangedjobsexpectedsalaryincrementsof15 - 20% whenmoving.Despitethis,firmswantedtomaintainleanbudgetsandsotheysoughttoattractpotentialemployeeswithotherbenefitsinsteadofhigherbasesalaries.AsthestatebankofVietnamlookedtotightencontrolofcreditrisks,bankshiredriskcontrolexpertstostrengthenthisfunctioninthesecondhalfof2012.Branchmanagers,retailbankingmanagersandheadofoperationswereindemandasbankswerekeentoexpandtheirretailbankingdepartmentsoropennewbranches.Relationshipmanagementexpertswerealsosought-afterandtherewasincreasedhiringinrevenuegeneratingareassuchasdirectsales,consumersalesandcardproducts.Outlookfor2013Seniorrelationshipmanagersandprofessionalsspecialisinginretailbankingandriskwillbeindemandastheseareasarepredictedtogrowformostbanks.Inaddition,jobopportunitiesmayariseassomelocalbanksplantolocalisepositionscurrentlyoccupiedbyinternationalemployees.Weexpectthatfirmswillremaincautiousandwillbeveryselectivewhenhiringandsalariesarelikelytoriseformostjobfunctionsinlinewithinflation.Professionalswillbeopentonewopportunitiesandmanywillexpectsalaryincrementsof15 - 25%whenchangingjobs.HOCHIMINHCITYBANKING&FINANCIALSERVICESROLEPERMANENTSALARYPERANNUM$US2012 2013RelationshipManager(1-3yrs'exp) $7-15k $8-17kRelationshipManager(5+yrs'exp) $24-60k $27-66kRiskManager $24-42k $27-47kChannelManager $30-40k $33-45kSalesDirector $24-48k $27-53kAssociateDirector,Corporate&InstitutionalBanking $54-78k $60-70k+HeadofCreditRisk $48-72k $53-70k+HeadofRetailRisk $48-72k $53-70k+SeniorManager,RetailRiskOperations $36-54k $40-60kHeadofRetailBankingOperations $54-96k $60-80k+HeadofTradeFinance $36-72k $40-76k+HeadofOverseasRemittance $36-72k $40-70k+BranchServicesManager $12-24k $14-28kBranchManager $18-36k $20-40kNB:Figuresarebasicsalariesexclusiveofbenefits/bonusesunlessotherwisespecified.RobertWaltersGlobalSalarySurvey2013 422