Morgan McKinley Singapore Salary Survey 2012

CONTENTS.

MANAGING DIRECTOR’S LETTER 2

FINANCIAL SERVICES 3

ACCOUNTING & FINANCE 4

BANKING OPERATIONS 6

CHANGE & PROJECT MANAGEMENT 8

INFORMATION TECHNOLOGY 9

LEGAL & COMPLIANCE 10

PRIVATE BANKING & WEALTH MANAGEMENT 11

RISK MANAGEMENT 12

COMMERCE & INDUSTRY 14

ACCOUNTING & FINANCE 15

INFORMATION TECHNOLOGY 17

LEGAL & COMPLIANCE 18

SALES & MARKETING 19

UNDERSTANDING THIS GUIDE 22

TALK TO US 23

CLICK ON THE HYPERLINKS TO GO TO PAGE

1

The Singapore jobs market experienced

considerable change, challenges and, in some

industry sectors positive growth during 2011.

However, the majority of the year will be

remembered for the uncertainty in the financial

services sector as a result of the European and

sovereign debt issues which took effect from the

end of Q2 onwards. This has affected overall

compensation packages moving into 2012 with a

conservative approach towards pay rises and

restricted approach to bonuses being the overall

consensus from most large institutions.

Singapore had experienced a record GDP growth in

2010 with the year on year ending at 14.5%. The

expectations moving into 2011 were high off the

back of this and the feeling was that the ‘credit

crisis’ had been averted; certainly moving through

Q1 and into Q2 of 2011, Singapore saw growth and

considerable recruitment activity. In the

infrastructure and controlling areas of most banks

and financial institutions, firms continued to recruit

and made investment hires with a fairly quick turn

around in the interview process.

Sectors such as accounting and finance,

operations, and in particular risk, legal and

compliance remained ‘hot’ areas, but as the global

economy moved into the second phase of the

crisis(sovereign debt) , most financial institutions

became very conscious of hiring during challenging

circumstances, and trading volumes similarly

slowed considerably. Q3 and Q4 in 2011 showed

significant volatility in the market and therefore,

Welcome to Morgan McKinley’s Singapore Salary Guide 2012

MANAGING DIRECTOR’S LETTER.

2

professionals in the financial services sector

became less willing to move as the risks outweighed

the positives. Employers too held off on ‘key’ hires

preferring to watch and wait into the new year, and

the words ‘hiring freeze’ were fairly constant in Q4.

Now, in Q1 2012 Singapore is predicting far slower

growth than the 4.8% experienced in 2011. We

have seen an effect on salary inflation and, in

general the view of an uplift of 10-15% is more

realistic for those who are considering a career

move.

Commerce & industry businesses on the other hand

saw fairly consistent growth throughout 2011.

Overall employees’ basic pay and total

compensation has been reflective of inflation. Areas

such as accounting and finance, HR, technology

and in particular sales and marketing, experienced a

continued appetite to hire throughout

2011. Specifically strong investment hiring has been

felt within the oil and gas, technology and media

sectors as more companies looked to position

themselves as a hub in Singapore. Digital

professionals have also been in high demand, as

organisations realise the value of digital marketing

to their business.

Overall due to overseas market conditions deeply

affecting the financial services market, moderation

in growth is forecast across all commercial sectors

with manufacturing for example set to grow by 3.4%

in 2012.

This guide is part of our ongoing commitment to

keep you up to date with hiring market patterns and

remuneration trends. We hope you find it

informative.

Finally, we would like to thank you for your

continued support and wish you all the best for the

remainder of 2012.

Chris Jay

Managing Director | Singapore

T: +65 6557 4661

E: [email protected]

FINANCIAL SERVICES.

3

The accounting and finance market was

fairly mixed in terms of hiring activity in

2011. The early part of the year saw both

investment hiring and the normal turnover

of employees post bonus season.

Professionals were also willing to move

firms to make good gains in their annual

basic pay.

However, moving into H2 2011, as the

impact of the sovereign debt crisis and

issues in Europe became of high concern,

Permanent role: Analyst /

Non-Officer

Associate /

AVP / Manager

VP /

Senior Manager

SVP /

Director

Director /

Senior Director

Financial Accounting $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330k

Management Accounting $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330k

Systems / Project Accounting $40k - $75k $75k - $130k $145k - $220k $220k - $250k $240k - $350k

Fund / Trust Accounting $40k - $75k $75k - $130k $145k - $220k $180k - $220k $220k - $350k

Product Control $50k - $80k $90k - $145k $150k - $200k $220k - $250k $250k - $400k

Internal Audit $40k - $75k $75k - $130k $145k - $220k $220k - $250k $250k - $380k

Tax Advisory / Compliance $40k - $80k $80k - $140k $145k - $220k $220k- $250k $250k - $350k

Business Analyst $40k - $80k $80k - $140k $150k - $220k $220k - $250k $250k - $380k

Treasury $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330k

Technical Accounting $50k - $80k $90k - $145k $150k - $200k $220k - $250k $250k - $400k

and trading volumes significantly softened,

employers hiring in this space became

considerable selective. In some cases the

large investment banks started to make

redundancies across finance in product

control, financial control and projects.

The general feeling across the market in H2

2012 is that bonus rounds are likely to be

minimal or in some cases none for the year,

and pay will most likely be frozen. Demand

for commodities, product controllers and

BASIC SALARIES (PER ANNUM)

FINANCIAL SERVICES.

ACCOUNTING & FINANCE

4

management reporting professionals

seems to be particularly noteworthy, and

most financial institutions are being highly

selective in terms of relevance of

experience.

Certainly, banking experience is still a must

in this area, and employers are expecting

professionals to be in good supply. If

investment banks continue to make

redundancies this year, it’s likely we will

see fairly long and thorough interview

processes throughout the year.

FINANCIAL SERVICES.


5


Contract role: Analyst AVP VP Director

FINANCIAL CONTROL

Financial Reporting $45k - $80k $90k - $120k $150k - $220k $220k

Regulatory Reporting $50k - $85k $95k - $130k $150k - $200k $200k

MANAGEMENT REPORTING

Strategy Planning & Analysis $50k - $85k $90k - $120k $150k - $200k $200k

Revenue & Cost Reporting $60k - $90k $90k - $130k $160k - $200k $200k

MIS Reporting $60k - $90k $90k - $130k $160k - $200k $200k

PRODUCT CONTROL

Product Control $45k - $90k $90k - $120k $150k - $220k $220k

The first half of 2011 saw steady hiring with

an increase in projects and operational risk

roles as banks put migration and

automation plans in place to cut costs. In

many cases, contracting provided a

solution to headcount restraints. However,

the second half of the year saw recruitment

activity slow and the last quarter saw record

lows in hiring across this space due to

global uncertainty coupled with natural

cyclical slowdown.

Role:

EQUITY, CREDIT, RATES, FX / MM

Analyst /

Non-Officer

Associate /

AVP / Manager

VP /

Sr. Manager

SVP /

Director

Director /

Sr. Director

Settlements $40k - $65k $65k - $130k $140k - $180k $180k - $200k $200k+

Client Services $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+

Documentation $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+

Trade Support $60k - $80k $80k - $130k $140k - $180k $180k - $220k $220k+

Business Analyst / Projects $60k - $85k $85k - $130k $140k - $180k $180k - $220k $220k+

DERIVATIVES

Settlements $40k - $65k $70k - $130k $140k - $180k $180k - $200k $200k+

Client Services $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+

Documentation $50k - $75k $80k - $130k $140k - $180k $180k - $220k $220k+

Trade Support $60k - $80k $80k - $130k $140k - $180k $180k - $220k $220k+

Business Analyst / Projects $60k - $85k $85k - $130k $140k - $180k $180k - $220k $220k+

Looking forward, 2012 looks uncertain with

banks remaining cautious and continuing

cost cutting measures. Offshoring to lower

cost countries will continue, resulting in

retrenchment.

Internal mobility will remain a strong focus

to cut costs, combat attrition and solve

headcount reductions in some teams.


FINANCIAL SERVICES.

BANKING OPERATIONS

6

Offshoring from Japan and Australia will

occur in functions but this will be offset by

shared service plans. Commodities is a

market set to grow but with lack of external

experience in this product and internal

mobility drives, banks will be under

pressure to use existing talent and provide

training as a solution. Bonuses will be low

and salary uplifts will be minimal unless

employees are being promoted.

Role:

OTHER

Analyst /

Non-Officer

Associate /

AVP / Manager

VP /

Sr. Manager

SVP /

Director

Director /

Sr. Director

Loans Administration $40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+

Static Data Analyst $40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+

Asset Servicing (Corporate Actions &

Dividends) $40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+

Control / Reconciliations $40k - $60k $70k - $120k $130k - $180k $180k - $220k $220k+


FINANCIAL SERVICES.

BANKING OPERATIONS

7

FINANCIAL SERVICES.

CHANGE & PROJECT MANAGEMENT

8


Role: 3-5 years 5-7 years 8-10 years 10+ years

Project Manager $40k - $60k $70k - $100k $120k - $200k $200k

Business Analyst $60k - $90k $90k - $120k $120k - $200k $200k

Change Manager $60k - $90k $80k - $100k $120k - $200k $200k

Programme Manager - - - $200k - $400k

Programme Director - - - $200k - $400k

Change & project management has been a

talking point in the hiring market for the

majority of 2011 in Singapore with some

exciting movement and transformation in

the financial services industry. In line with

matters of cost saving, reduction and spend,

change & project management is heavily

relied on to implement these initiatives.

There have been challenges too, with

various projects being cut short or even loss

of entire funding due to the economic

climate. As a result many teams have been

restructured, not just at the analyst level, but

also at the director level.

Significant projects of transformation,

migration, onshoring and offshoring will

continue to dominate in 2012 and the

demand for qualified and certified

professionals will increase. Six Sigma is a

popular methodology that banks are

adopting and we have seen rising demand

for such professionals, both on a contract

and permanent basis. Salaries are

competitive with banks paying a premium to

get suitable professionals onboard.

IT recruitment in Singapore’s financial

services sector has remained

comparatively strong despite economic

turbulence. Recent trends include a healthy

demand for IT trading support

professionals. This is due in part to a new

wave of trading houses setting up, and a

growing emphasis on front office functions

in Singapore for global banks, where

historically these banks have focused these

functions for APAC in Hong Kong.

Role: Analyst /

Non-Officer

Associate /

AVP / Manager

VP /

Sr. Manager

SVP /

Director

Director /

Sr. Director

Programmer / Software Engineer / Developer $60k - $85k $85k - $120k $120k - $180k $180k - $280k $260k+

Business Analyst $60k - $90k $90k - $120k $120k - $180k $180k - $300k $270k+

Level 1 / 2 Technical Support $35k - $80k $80k - $110k $110k - $160k $160k - $250k $240k+

Level 3 Technical Support $60k - $90k $90k - $120k $120k - $180k $180k - $270k $265k+

Application Support (BO/MO) $70k - $95k $95k - $140k $140k - $180k $180k - $280k $280k+

Trader Support (FO) $75k - $110k $110k - $150k $150k - $220k $220k - $325k $300k+

IT Security and Audit $48k - $75k $75k - $120k $120k - $160k $160k - $250k $250k+

QA and Testing $45k - $72k $72k - $120k $120k - $150k $150k - $220k -

Database Administrators / Datawarehousing Consultant $48k - $90k $90k - $140k $140k - $200k $200k - $280k $260k+

Service Delivery / Program Manager - $100k - $130k $130k - $200k $200k - $290k $280k+

Increasingly, IT professionals need to be

more aligned and integrated with business

decisions, which has created demand for

professionals who have good domain

knowledge, leadership skills and above all

good communication skills. Cost

awareness has made way for continued

offshoring of more technically ‘hands on’

functions to lower cost countries. India has

dominated here over recent years, however

a shift in cost benefits is seeing a rise in


FINANCIAL SERVICES.

INFORMATION TECHNOLOGY

9

offshoring to countries such as Malaysia

and the Philippines.

After witnessing salary increases of around

6% going into 2011, increases will be more

conservative in 2012 in view of further

economic uncertainty. However hiring

levels are expected to remain sturdy in

response to restructuring and new start-

ups.

Role:

COMPLIANCE

Analyst /

Non-Officer

Associate /

AVP / Manager

VP /

Sr. Manager

SVP /

Director

Director /

Sr. Director

Monitoring/ Surveillance $30k - $60k $60k - $125k $120k - $160k $140k - $200k $200k+

AML $35k - $60k $60k - $140k $120k - $180k $170k - $250k $250k+

KYC $40k - $60k $55k - $70k $70k - $120k $100k - $200k $180k+

Investigations - $60k - $120k $120k - $180k $180k - $250k $240k+

Control Room / Research $40k - $65k $65k - $160k $130k - $200k $180k - $300k $300k+

Compliance Advisory $60k - $90k $80k - $170k $150k - $210k $180k - $280k $280k+

LEGAL

International Law Firm $40k - $60k $60k - $110k $110k - $170k $170k - $220k $220k+

Local Law Firm $45k - $70k $70k - $140k $140k - $220k $220k - $280k $280k+

Corporate Secretary $45k - $90k $75k - $140k $120k - $200k $200k - $300k $300k+

In-House Counsel $50k - $90k $80k - $150k $120k - $210k $180k - $280k $280k+

Documentation Lawyer $50k - $100k $90k - $170k $150k - $250k $240k - $350k $350k+


FINANCIAL SERVICES.

LEGAL & COMPLIANCE

10

Due to current market conditions, total

compensation levels are likely to be affected

for both legal and compliance roles within

the financial services industry. However,

although anecdotally bonus components are

going to be most affected, basic salary

expectations are, in the main, predicted to

match those paid in 2011. There will be

notable exceptions: demand for compliance

professionals continues to be steady with

the implementation of several new

regulations this year. Organisations may

have to pay a premium to attract

exceptional talent in the market.

This is less likely in the case of legal roles

as demand for both transactional and ISDA

lawyers is more dictated by the volume of

trading, which is unlikely to be as high as

last year.

Role:

PRIVATE BANKING

Analyst /

Non-Officer

Associate /

AVP /

Manager

VP /

Senior

Manager

SVP /

Director

Director /

Senior

Director

Wealth Manager / Relationship Manager/

Private Banker $50k - $80k $80k - $145k $120k - $180k $200k - $280k $250k - $450k

Investment Advisors / Consultants $50k - $70k $80k - $130k $120k - $160k $160k - $260k $200k - $400k

Marketing (Wealth Management) $40k - $70k $80k - $120k $120k- $140k $160k - $240k $180k - $300k

CONSUMER BANKING

Wealth Manager / Relationship Manager /

Private Banker $75k - $84k $85k - $115k $120k - $180K

Investment Advisor / Consultant $65k - $72k $75k -$100k $110k - $180k

Marketing (Wealth Management) $60k - $72k $85k - $100k $100k - $160k


FINANCIAL SERVICES.

PRIVATE BANKING & WEALTH MANAGEMENT

11

In the first two quarters of 2011 the private

banking and wealth management sectors in

Singapore remained robust with consistent

hiring at all levels. All the major players in

this area continued to have aggressive

growth plans, leveraging off Asia’s strong

economic growth, and the increased wealth

of the Asian community.

However, the sovereign wealth crisis and

issues in Europe of the second half of the

year resulted in overall trading volumes to

decline and certainly this saw an effect on

the recruitment drives of most banks in the

wealth management sector.

The need for relationship managers with a

sizeable book is now a consistent theme,

with the majority of all the private banks

expanding in this area preferring the comfort

of an established private banker; rather than

an experienced banker with no wealth

management familiarity or limited contacts

of high net worth individuals.

A shortage of professionals with desired

expertise continues to be a theme moving

into 2012, but good professionals with a

strong book and whom clients are willing to

move with are difficult to find.

In general, most salaries have remained

fairly constant. Even though the sovereign

debt crisis has slowed down hiring,

guaranteed bonuses for exceptional

individuals in this fee-generating space are

still being offered.

As with most of the financial services

sector, recruitment in risk management in

2011 was a result of staff movement rather

than growth.

The first half of the year saw significant

growth however there was minimal hiring in

the second half. Most of the financial

institutions minimised opportunistic

recruitment in 2011.

Whilst hiring activity in 2012 may not be as

buoyant as the last two years, the prediction

for this year is a more fluid hiring market

than the second half of 2011. There are

already signs of growth in the Singapore

market, especially in quantitative finance.

The key areas of hiring will be roles that

involve risk methodologies, counterparty

risk and commodities in 2012.

In addition, qualified international

jobseekers are continuously looking for

Singapore-based roles and this trend is

expected to be the same as 2011.

Salaries are expected to be the same as

previous years.

Role: Analyst /

Non-Officer

Associate /

AVP / Manager

VP /

Sr. Manager

SVP /

Director

Director /

Sr. Director

Quantitative Analysis $72k - $100k $90k - $150k $130k - $230k $220k - $280k $250k+

Credit Risk Analysis $55k - $90k $72k - $130k $120k - $210k $180k - $250k $240k+

Market Risk Management $60k - $90k $75k - $140k $130k - $230k $200k - $260k $240k+

Market Risk Reporting $55k - $90k $72k - $130k $120k - $210k $180k - $250k $240k+

Traded Credit $60k - $90k $75k - $140k $130k - $230k $200k - $260k $240k+


FINANCIAL SERVICES.

RISK MANAGEMENT

12

INTERNAL MOBILITY

WILL REMAIN A STRONG

FOCUS TO CUT COSTS,

COMBAT ATTRITION AND

SOLVE HEADCOUNT

REDUCTIONS IN SOME

TEAMS.

13

COMMERCE & INDUSTRY.

14

The uncertainty in European and American

markets has had an immediate effect in

Singapore and other Asian markets. While

we are still experiencing some growth in

accounting & finance, there is increased

pressure on multinational companies to

provide higher profitability in this region.

This has created a very risk averse jobs

market where even senior vacancies are

not being filled and are instead covered

internally for cost saving reasons.

Role: Accountant Senior

Accountant Manager

Senior

Manager

Internal Audit $30k - $50k $45k - $75k $70k - $120k $120k - $150k

Financial Accounting $40k - $60k $55k - $85k $80k - $130k $130k - $200k

Management Accounting $40k - $60k $55k - $85k $80k - $130k $130k - $200k

Business Analyst $45k - $65k $60k - $90k $85k - $135k $135k - $190k

Systems / Project Accounting $45k - $65k $60k - $90k $85k - $135k $135k - $210k

Tax Advisory / Compliance $45k - $65k $60k - $90k $85k - $135k $135k - $210k

Financial Control $55k - $75k $70k - $100k $95k - $145k $145k - $220k

Treasury $40k - $60k $55k - $85k $80k - $130k $150k - $205k

Corporate Development / Strategy - - - $150k - $250k

Sourcing finance talent in the current

market can prove challenging. The

continued global instability causes some

professionals to hold back from actively

searching for new roles. On the other hand,

senior management retain staff who are

delivering in their responsibilities and

contributing to the business.

The cautious approach we experienced last

year while recruiting strategic professionals

has continued. There is little opportunity to




step up significantly in job moves and also

employers generally look for those who

have previous experience in a similar

industry.

Good opportunities are still available but

professionals need to think carefully about

the long term potential of the role.

On the whole, compensation has remained

similar to 2011 with many examples of

reduced base salaries and increased

variable components.

15



Role:

LARGE SCALE BUSINESS Director / CFO

Internal Audit $300k - $500k

Tax Advisory / Compliance $350k - $550k

Treasury $350k - $550k

Strategy & Accounting $500k - $700k

MEDIUM SCALE BUSINESS

Internal Audit $180k - $280k

Tax Advisory / Compliance $180k - $280k

Treasury $200k - $300k

Strategy & Accounting $250k - $450k


16

Singapore remains an attractive regional

hub for many of the world’s leading

technology organisations and continues to

lead the way in new innovation, research

and development.

Hiring activity in the end space environment

has been strong over the last year.

Confidence to invest in upgrading or

implementing new technologies has been

buoyed by improved trading conditions in

2011. The need for organisations to

Role: Non-Officer Manager Senior Manager Director Senior Director

Systems Support $36k - $60k $60k - $90k $90k - $130k $130k - $160k $180k+

Programmer $40k - $80k $80k - $120k $120k - $180k $180k - $230k -

Database Administration $50k - $80k $80k - $120k $120k - $150k $150k - $200k -

QA & Testing $50k - $80k $80k - $100k $100k - $140k $140k - $180k -

Marketing $60k - $90k $90k - $120k $120k - $160k $160k - $220k $220k+

IT Security and Audit $60k - $90k $90k - $150k $150k - $180k $180k - $250k $250k+

ERP $40k - $100k $100k - $150k $150k - $200k $200k - $280k -

Business Analyst $50k - $100k $100k - $150k $150k - $200k $200k - $280k $280k+

Sales $50k - $100k $100k - $180k $180k - $250k $250k - $325k $325k+

Pre-sales $50k - $100k $100k - $150k $150k - $200k $200k - $250k $250k+

Project Manager $72k - $100k $100k - $150k $150k - $200k - -

IT Head - $120k - $180k $180k - $220k $220k - $300k $300k+

become more financially efficient has also

been a major driver for investment in new

technologies in the short and medium term.

There has been strong demand for good

mid to senior level professionals with

experience in project management,

enterprise / data / applications and

solutions architecture, and specialist ERP

skills and IT governance. The number of

available sales and pre-sales roles has also

been buoyant and senior IT leadership

positions have seen a steady increase.



INFORMATION TECHNOLOGY

17

Although there is lack of visibility regarding

financial markets going into 2012, the

general outlook is positive. We anticipate

continued growth in the ‘cloud’

technologies, digital media and social

media. Demand for strong ERP consultants

will continue to be high as well as post

sales integration positions.

Salaries remained steady in 2011 although

employers have had to stretch budgets for

niche positions. It is not expected that there

will be a huge jump in salaries in 2012.

Role:

COMPLIANCE

Analyst /

Non-Officer

Associate /

AVP / Manager

VP /

Sr. Manager

SVP /

Director

Director /

Sr. Director

KYC $40k - $60k $55k - $70k $70k - $120k $100k - $200k $180k+

Monitoring/ Surveillance $30k - $60k $60k - $125k $120k - $160k $140k - $200k $200k+

Investigations - $60k - $120k $120k - $180k $180k - $250k $240k+

AML $35k - $60k $60k - $140k $120k - $180k $170k - $250k $250k+

Control Room / Research $40k - $65k $65k - $160k $130k - $200k $180k - $300k $300k+

Compliance Advisory $60k - $90k $80k - $170k $150k - $210k $180k - $280k $280k+

LEGAL

International Law Firm $40k - $60k $60k - $110k $110k - $170k $170k - $220k $220k+

Local Law Firm $45k - $70k $70k - $140k $140k - $220k $220k - $280k $280k+

Corporate Secretary $45k - $90k $75k - $140k $120k - $200k $200k - $300k $300k+

In-House Counsel $50k - $90k $80k - $150k $120k - $210k $180k - $280k $280k+

Documentation Lawyer $50k - $100k $90k - $170k $150k - $250k $240k - $350k $350k+



LEGAL & COMPLIANCE

18

Recruitment activity in both the legal and

compliance job markets was vibrant in

2011. As more businesses expanded their

operations in APAC, and Singapore

continued to be seen as their regional hub,

the demand for experienced lawyers grew.

This was uniform across the market but

industry sectors such as oil & gas, shipping,

pharmaceutical and telecommunications

saw higher levels of hiring activity.

Likewise, there was a higher than usual

demand for stand alone compliance

professionals as multinational companies

were faced with new and heightened

regulation, such as the Anti-bribery Act.

It is expected that overall levels of

recruitment will come down from 2012,

although where vacancies do exist,

professionals can expect a reasonable

increase in salary, encouraging them to

move in this uncertain economic condition.


SALES & MARKETING

Hiring within sales & marketing has remained

particularly buoyant in 2011 as a number of

organisations looked to add to their sales and

marketing teams.

Despite a predicted slowdown in the Singapore jobs

market, employers continue to search for talent and

professionals with specific skills in this sector such as

creativity and product knowledge.

Salaries have increased for sales positions; for

example hospitality is a sector that is currently thriving.

However whereas certain roles are set to remain

stable in terms of base remuneration, increased

emphasis has been placed on performance based

incentives and commission schemes.

There has been increased demand for corporate

communications talent to improve brand reputation

and strengthen relationships with audiences through

print, online and social media channels. Employers will

be offering competitive salaries to attract and retain

staff, given ongoing skills shortages in the sales and

marketing sectors.

On average, companies are offering salary increases

of up to 15-20% to secure new talent.


Role:

ADVERTISING AGENCY

ACCOUNT MANAGEMENT

Regional Account Director (10+ years) $145k - $250k

Group Account Director (9+ years) $120k - $200k

Senior Account Director (8+ years) $100k - $120K

Account Director (7+ years) $70k - $110k

Associate Account Director (6+ years) $60k - $72k

Account Manager (4+ years) $48k - $65k

Account Executive (1+ years) $30k - $38k

PLANNING

Regional / Global Head Planning Director (15+ years) $200k - $380k

Senior Planner (5+ years) $100k - $150k

PUBLIC RELATIONS

PR AGENCY

Managing Director / General Manager (18+ years) $250k - $300k

Practice Head (15+ years) $145k - $220k

Account Director (10+ years) $90k - $160k

Account Manager (5+ years) $65k - $90k

19


SALES & MARKETING (CONT.)

For professionals with skills in higher demand, such as

e-commerce and online communications, higher

increases may be offered.

Throughout 2011, there was a steady rise in the

demand for digital marketing skills. In fact this has

been the major growth area as organisations realise

the value of digital marketing to their business.

The trend has been for the creation of roles to

complement traditional marketing and the ongoing shift

from agency to in-house. While digital marketing will

not completely overtake its traditional counterpart,

growth in this area will still be significant, particularly

as Singapore remains the digital media hub of Asia.


Role:

PUBLIC RELATIONS (CONT.)

IN-HOUSE

Regional Director, Corporate Communications (15+ years) $240k - $320k

Director, Corporate Communications (12+ years) $150k - $180k

Public Relations Manager (7+ years) $84k - $130k

Marketing Communications Director (10+ years) $120k - $180k

Marketing Communications Manager (7+ years) $84k - $130k

Events Manager (5+ years) $50k - $90k

HOSPITALITY

Director of Sales & Marketing (10+ years) $120k - $180k

Director of Sales (8+ years) $100k - $150k

Senior Sales Manager (5+ years) $60k - $95k

Sales / Marketing Manager (3+ years) $40k - $62k

EVENT MANAGEMENT

Events Director (8+ years) $72k - $132k

Senior Events Manager (5+ years) $57k - $80k

Events Manager (3+ years) $36k - $58k

Events Executive (1+ years) $22k - $36k

20

DESPITE A PREDICTED

SLOWDOWN IN THE

SINGAPORE JOBS

MARKET, EMPLOYERS

CONTINUE TO SEARCH

FOR TALENT AND

PROFESSIONALS WITH

SPECIFIC SKILLS.

21

Visit www.morganmckinley.com.sg for more information

SALARY GUIDE | SINGAPORE 2012.

UNDERSTANDING THIS GUIDE

METHODOLOGY:

The salary information provided in this guide has

been compiled by dedicated researchers across

all of Morgan McKinley’s Financial Services and

Commerce & Industry divisions in Singapore. Our

researchers are in continual contact with both

employers and professionals within these

markets in Singapore.

STRUCTURE OF SALARY TABLES:

We acknowledge that different financial

institutions and commercial businesses have

varying corporate structures. For ease of use, this

document includes corporate titles typically used

in financial services and commercial

organisations.

SALARY DATA:

The salary ranges in this guide are indications of

what individuals with similar experience might

expect to earn in new roles in 2012. This salary

data is based on placements made during the

last six months, as well as the specialist

knowledge of Morgan McKinley’s consultants.

Salaries listed cover basic salaries only and do not

include bonus payments or benefits. This is due to

the variety of ways in which employers manage

employee pay and reward.

Please note, the information presented in this

document should be used as a general guide only.

Where number of years’ experience is mentioned, it

is only to give an approximate framework in which to

gauge what a typical professional is likely to earn

with the level of experience shown.

In order to match professionals to the right career

opportunity for them, Morgan McKinley assesses

individuals on all their skills and abilities when

deciding on their suitability for roles with our clients.

FURTHER INFORMATION:

For more specific salary or hiring information, please

visit www.morganmckinley.com.sg or contact your

Morgan McKinley consultant directly.

© 2012 Morgan McKinley Group Ltd all rights reserved. Copy or reproduction

of this material is strictly prohibited. 22

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