SALARY SURVEY 2013 - Robert Walters Singapore

Although the UK jobs marketcontinued to be challengingin 2012, there were still someencouraging signs. Vacancieswere being released in mostdisciplines and businesses werestill looking to exploit growthopportunities. This, along with acontinuing focus on maximisingefficiencies and regulatorypressure, were the primarydrivers behind employers’recruitment strategies. Overall,though, general job levels remainedrelatively low in comparisonto those witnessed pre-2008.Hiring activity occurred acrossa variety of industry sectors,with retail, telecommunications,technology and AIM-listednatural resources businessesall performing relatively strongly.The London insurance marketwas also boosted by theannouncement of Lloyd’s‘Vision 2025’ programme, whichoutlined the firm’s commitmentto growing premium incomesin established markets, furtherinternationalisation of its brokerand underwriting networks andthe setup of a new overseas hub.In addition, we saw some demandfrom professional/businessservices, digital, online gamingand publishing firms. Thosebusinesses that were performingthe strongest typically had asignificant international and/oronline presence.Despite challenging marketconditions, employers were stillseeking to hire professionalswho could identify growthopportunities. Commerciallyfocusedaccountants, talentedsales professionals and marketingspecialists who could offerdiscernable ROI were allsought-after.Within the banking sector, mostrecruitment was prompted bybanks focusing on businesscriticalreplacement hires.There were some exceptions tothis and growth hiring was stilltaking place, primarily inresponse to regulatory pressure.But uncertainty in Europe ledlarge banks to become morecautious. The investmentmanagement jobs market wasmore positive though, particularlyin the first half of 2012 and wecontinued to see some goodopportunities in both operationsand finance among firmsoperating in this sector.The jobs market outside of Londoncontinued to be impacted by bigback office functions relocatingto the Midlands and the North-West. There are a number ofexamples across a varietyof sectors, including financialservices, transport, retail andleisure businesses, with thesetransitions creating new rolesin these regions.Overall salary levels remainconsistent, with few roles payingsignificantly more than last year.However, we have seen somerises in isolated areas. Increaseswere typically rare though andonly evident in the most indemandareas, with professionalsmore likely to receive upliftswhen changing job.Employers are likely to remainconservative in 2013 as theyseek further clarity of the globaleconomic climate. Reducing costsand maximising efficiencieswill remain a driver behindorganisations’ recruitmentstrategies, with many also keento hire professionals who canhelp them to generate revenueand offer strong ROI. Thebest talent will remain highlysought-after, meaning firms willneed to remain flexible on salaryand implement efficient hiringprocesses to be successful insecuring the highest-calibreprofessionals.UNITED KINGDOMRobert Walters Global Salary Survey 2013 2012