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SingaporeSalary & Employment Outlook

2017

Worldwide leaders in specialist recruitmentwww.michaelpage.com.sg

will increase headcount

36%

F IND OUT WHATYOU’RE WORTH

IN TH IS REPORT

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salary increaseexpected

1-5%

Effectiveemployer branding

Tech growth to boost Asia’s job market

2 | 2017 Singapore Salary & Employment Outlook

Seizing New Opportunities

Key Trends

Made in Asia: Rise of Domestic Brands

Tech Growth to Boost Asia’s Job Market

Strong Employer Branding: A Key to Success

Continued Growth of Contract Employment

Numbers at a Glance

Singapore Overview

Insights & Salary Benchmarks

Engineering & Manufacturing

Finance & Accounting

Financial Services

Healthcare & Life Sciences

Human Resources

Legal

Marketing

Procurement & Supply Chain

Property & Construction

Sales

Technology

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2017 Singapore Salary & Employment Outlook | 3

Seizing new opportunities

Healthcare, technology and digital sectors earmarked for growth in Asia

Companies in Asia are ramping up efforts to seize growth opportunities in the region, despite slightly weaker global economic sentiment. By investing heavily in mobile-technology start-ups and other innovations, including financial technology (fintech) services, employers are creating new positions with an emphasis on digital skills. Hiring is expected to continue to grow in the next 12 months across the technology sector.

Likewise, the healthcare sector is expected to be a bright spot in 2017, due largely to ageing populations as well as a higher demand for quality services. Countries across Asia are expected to continue building up their healthcare systems, resulting in an increase in hiring demand for qualified professionals across the board.

Digital also shows no signs of slowing down, as companies continue to build up their online platforms and e-commerce capabilities.

In terms of hiring intentions, 44% of employers surveyed across China, Hong Kong, Taiwan, Indonesia, Malaysia, and Singapore said they would be increasing their company headcount; while 49% said they would maintain their current headcount. Mid-level employees appear to be the most sought-after by companies (60%).

Contracting appears to have risen in popularity as a talent solution. In Hong Kong and Singapore, more than half (60%) of companies surveyed currently use contractors, primarily to overcome challenges in permanent headcount approvals. Currently, most contractors are in operations, technology, financial services (reflecting the tightening sector) and business support/administration positions.

Overall, salary increases in Asia are expected to remain modest – almost half surveyed (48%) indicated that the average increment within their companies in the next 12 months will be between 1 and 5%. While employers have agreed that salaries are an important retention tool, other popular employee engagement initiatives include opportunities for career progression and learning and development.

Throughout the region, diversity and inclusion (D&I) continues to play an important part in company programmes. D&I’s popularity in Asia has been on the rise as companies become more aware of the benefits in having different perspectives and skills in their teams. Forty-four per cent of employers in China, Hong Kong, Taiwan, Indonesia, Malaysia and Singapore said they were strongly committed to D&I initiatives.

The breadth of D&I coverage in Asia is slowly beginning to evolve as well, developing from an emphasis on purely gender to cover other less-represented groups. Currently, over half (53%) of D&I programmes in the region are primarily focused on gender, followed by age (42%) and minority ethnic groups (34%).


Made in Asia: Rise of domestic brands

Asian-headquartered companies have become increasingly competitive with their employee value propositions

Across most of Asia’s diverse markets, competition for talent is more intense than ever as domestic brands — historically seen as second place to overseas multinationals, as far as candidate preferences are concerned — compete with their foreign counterparts for top candidates.

The only exception, it appears, is Japan, where working in a well-established domestic firm, like the Toyotas and Panasonics of the country, is seen as more prestigious and stable than top foreign multinationals. Professionals who hope to gain international experience would rather choose to join a local firm and opt for an overseas transfer than join a foreign company.

Outside of Japan, the rise and globalisation of domestic brands in other parts of Asia have caught the eye of many employees, who now see the potential and advantages of joining a local firm.

China, in particular, has seen the meteoric rise of various local brands, now multinationals in their own right and visible to the world. Of these organisations, 21, including Internet giant Alibaba and online travel agency Ctrip, have been listed in Forbes’ Asia’s Fab 50 Companies list. The list also includes companies in Hong Kong, Taiwan, Thailand, Indonesia and Malaysia.

Successes and challenges

For many domestic companies, success usually comes from ensuring compatibility between products/services offered and market demands as well as localising their talent pool to leverage employees’ market knowledge, among other reasons.

However, many face the perennial challenge of finding candidates who have an international perspective, strong knowledge of local markets and the requisite language skills. As they find success within their home countries and look to expand overseas or execute successful IPOs (initial public offerings), the search for talent would have to be taken a step further — this means acquiring true Asian knowledge plus experience in other markets.

In the past, domestic brands have had to work hard at making themselves more attractive to prospective hires, be it through creating a more international corporate culture, introducing better pay/benefits, and ensuring clearer project and performance management processes. This is working in China where 44% of domestic employers surveyed said they would provide increments of 6-10%, almost on par with foreign multinationals (46%).

Those who are highly successful at hiring have two secrets to success: they simply hire the right people for the job — those who have the right skill sets and share company values — and they figure out the most effective platforms to engage their target audiences.

3 WAYS TO HIRE THE RIGHT PEOPLE

1. PROMOTE YOUR COMPANY VALUES. Does your culture reward teamwork or competitiveness? Or do you value customer service, creativity or innovation? Promoting your company values will help attract like-minded individuals and increase the likelihood of finding the perfect match.

2. HAVE A COMPELLING EMPLOYEE VALUE PROPOSITION (EVP). Top performers want to know what sets your company apart. What does it stand for? How is achievement recognised and rewarded? Aim to promote these attributes through your online platforms, public relations or even word-of-mouth. Remember to separate your employment brand from your consumer brand.

3. BE OPEN-MINDED. Often, the best candidates exist outside of your industry. A high-potential candidate with strong transferable skills will often do well even in another industry, when given the right training. They may also bring with them new and innovative perspectives that will help move your business forward.


Tech growth to boost Asia’s job market

The race to secure top talent is heating up as companies move to build up technology capabilities

Technological innovation in Asia is set to gather further pace in 2017, led by sizeable investments from established companies and start-ups looking to grow and streamline costs, and stay ahead of their competition.

Fuelled by a myriad of factors, including Asia’s rapid smartphone adoption, the rise of e-commerce and the rush for productivity/automation, almost every company in Asia is investing more in technology and making their business more mobile/tablet-friendly. Within mainland China especially, large amounts of investment are moving towards Shenzhen, where there is an established infrastructure for technology-led manufacturing.

In other markets such as Taiwan and Malaysia, a greater concentration of digital innovation will likely be observed in areas like mobile and software development, Internet of Things (IoT), and cloud-computing.

Japan too, is expected to explore ways of further building up an ecosystem that would help leverage its status as a technological giant, reported the Wall Street Journal. This includes building bridges between large, established companies and less risk-averse start-ups.

Fintech’s growth

With the rise of financial technology services, also known as fintech, and governmental support in this area, start-ups as well as established global and regional financial institutions are investing heavily to develop their own technological capabilities in-house. In markets where mobile and online payment systems remain under-developed, such as in Indonesia and Thailand, fintech services are an opportunity for new players to enter the market.

Already, Indonesia has granted new banking licenses to conglomerates, allowing them to launch digital banks. Hong Kong’s push for the movement has culminated in several notable outcomes, including the annual Finnovasia conference, which regularly brings together hundreds of attendees from different countries to chart fintech’s future in Asia. In Singapore, the country’s monetary authority has also committed to invest S$225 million in fintech over five years.

On an international level, more foreign companies are setting up regional headquarters in Asia, drawn by the region’s lower operating costs, excellent infrastructure and strategic location that make it easier to expand into new markets.

As a relatively young industry, the technology market is expected to face a considerable shortage of talent in this space. Employee recruitment and retention will become increasingly competitive, as the rate of technological growth outpaces talent development. Adding to such challenges is the tendency of candidates moving around more frequently than in other sectors, attracted by better opportunities and remuneration packages.

To overcome this shortage, companies are beginning to recruit beyond their industries and national borders. Talent flow is likely to be technology-focused rather than business-focused. Salaries are likely to increase as well.

5 TIPS TO RETAIN TOP TECHNOLOGY TALENT

1. KEEP ON TOP OF MARKET SALARY RATES. Specialists can command material increases, so the first step in retaining your technology talent is to frequently review the market rates on offer. It is essential that you communicate to internal stakeholders the vital importance of at least matching – if not exceeding – the going rate, and getting budget allocation accordingly. The laws of supply and demand apply.

2. LOOK TO THE START-UP WORLD. With Silicon Valley setting the standard for technology employment, it may be wise to look to start-up culture and try to replicate some aspects of what makes technology start-ups so attractive. For example, technology specialists thrive on challenges and new experiences.

3. FLEXIBILITY. If budget is still difficult to find, there may be an opportunity to make up for it with perks like flexible working options. Bearing in mind that a technology specialist may work best uninterrupted at home, or even at night, a lenient work schedule can also be a way to get the most out of your team.

4. INVEST IN TRAINING. Training is an investment to maximise your team’s capacity and improve your employee retention rate. Hence, this should be an important piece of the budget puzzle – not an afterthought. Technology employees typically enjoy learning new skills. The opportunity to earn CV-enhancing qualifications like CCNA, MCP, PRINCE2 or Certified ScrumMaster, is valued.

5. DISCUSS CAREER PATHS. To prevent technology staff becoming dissatisfied or restless with their job, it is worthwhile at annual review time and throughout the year to ask what each employee is looking for in their career – whether it is the opportunity to try new things, new roles or to transfer to another location.


Strong employer branding: A key to success

Companies that are able to effectively communicate their culture and values to employees are staying ahead

More companies in Asia are paying attention to employer branding as a way to stand out in the increasingly competitive field of talent acquisition and retention. Already, 56% of employers surveyed said that their organisations practise employer branding actively.

Traditional incentives such as salary increases remain one of the top considerations for candidates, especially in mainland China and emerging markets like Thailand and Indonesia. But other factors, such as career progression, training, work-life balance, and corporate values, are also rapidly becoming more of a “pull” factor for an increasing number of employees, particularly the millennials. This is especially true in Taiwan where salaries tend to stay relatively flat.

Companies that succeed in employer branding are those that can communicate clearly to employees what they stand for, and the culture and values the organisation promotes. Often, such companies have multi-channel digital strategies to promote their brand internally and externally. Almost two-thirds (55%) of the companies that practise employer branding engage with potential and current employees using internal and external social media platforms.

In Indonesia, for example — a relatively young market that is among the world’s most active users of Facebook and Twitter — 50% of employers use social media to reach talent under the age of 30. Start-ups that do not have enough resources to build their employer branding also often turn to social media to communicate their corporate journey and mission as part of their attraction and retention strategy.

Diversity and inclusion

Increasingly, more companies are ramping up their efforts in diversity and inclusion (D&I) to build their employer brand. International firms are typically at the head of the curve with D&I, often because they have policies mandated by regional or head offices, and many of them are seeking to localise their workforces to become more representative in the markets they operate in.

While D&I efforts can be better encouraged on the domestic front, local companies that are taking the biggest strides in this area are typically those looking to expand abroad: for example, several Chinese banks opening in Hong Kong and technology businesses expanding across the globe have made determined efforts to look more attractive to international talent, and this has included having clear policies on D&I.

The good news is that majority of employers across Asia (93%), comprising local firms and foreign multinationals, have said that they are committed, in varying levels, to supporting their D&I efforts. Among all, Singapore stood out, with 91% of employers affirming their commitment to D&I, as the local government continues to champion such efforts.

Throughout Asia, gender appears to be the top focus of most companies’ D&I programmes, with slightly over half (53%) of companies making a clear push for recruiting and promoting women in organisations. Beyond gender, companies are also focusing programmes on age (42%) and minority ethnic groups (34%).

5 WAYS TO PUSH D&I IN YOUR ORGANISATION

1. HAVE RELEVANT PROGRAMMES. To support a diversified workforce, companies should ideally have programmes that retain talent from different backgrounds. Some initiatives that have worked among our clients included leadership development schemes for women and fair performance reviews, with processes that neutralise bias.

2. MAKE IT A GENUINE PRIORITY. For diversity and inclusion (D&I) programmes to truly make a difference, senior leaders will need to support the cause whole-heartedly and make it a point to personally practice D&I.

3. CREATE AN ENVIRONMENT THAT SHOWS SUPPORT. For example, if your company has a work-from-home policy, ensure that leaders are supporting this initiative 100% and that the employees have the tools, like laptops and remote access permissions, to telecommute productively. Otherwise, employees might feel that the policies are just for show.

4. AVOID UNCONSCIOUS BIAS. Train managers to be more aware of their hidden biases. People tend to recruit talent who are most similar to their backgrounds and personality. However, such an approach reduces diversity and in the long run, new ideas and perspectives.

5. DO NOT FORGET INCLUSION. Once a diverse workplace is set in place, companies should follow up by introducing programmes that foster collaboration among the different groups. This can be done through organisation-wide projects, like corporate social responsibility initiatives, which allow employees of all levels to work with different groups.


More employers in the region offering better salaries and benefits to attract top talent

While contracting has been a popular talent solution in more mature employment markets like Australia and the United Kingdom for years, its acceptance in Asia, including Hong Kong and Singapore, has only started gaining speed in recent years.

In mature contracting markets, contract work is seen as a way to achieve better work-life balance, pick up new skill sets, or as a means for moving into full-time employment. On the employer front, contracting allows companies to adjust their workforces with the ebb and flow of the economy.

This flexibility associated with contract work, both for employers and employees, has been one of the key reasons for the boost in Singapore’s and Hong Kong’s contracting market. In fact, 85% of employers surveyed across the two cities said that they were planning to increase or keep to the same number of contractors over the next 12 months.

While contracting has been popular across the financial services sector, primarily within the functions of operations, technology, administration and project management, we are now seeing a notable increase in demand for contracting resources within the human resources and marketing functions.

Companies in these two cities now have a ready pool of candidates, including experienced and qualified mid to senior-level managers, to choose from as more professionals warm to the idea of contract work.

On the remuneration front, more forward-looking organisations are rewarding high-calibre talent with attractive pay and benefits, in addition to the possibility of being offered a permanent job. Some companies are even engaging senior executives on a contract basis for the unique skills they bring to specific projects.

Interestingly, smaller financial institutions have been quick to offer good remuneration and benefits packages compared with more established companies in a bid to woo top contracting talent.

Still, a key challenge in both Singapore and Hong Kong is making contract staff feel motivated and included. More can be done by way of training opportunities, bonuses and other job perks, which are widely offered to contract staff in more mature contract employment markets.

Continued growth of contract employment

5 WAYS TO MAINTAIN COMPANY CULTURE WHEN HIRING CONTRACTORS

1. HAVE STRONG INDUCTION AND ONBOARDING PROCESSES. Share the company’s aims, values and culture as well as its code of conduct and allocated payday. Give contractors a chance to ask questions as well.

2. PROVIDE ADEQUATE TRAINING. Many employees take on contract work to acquire new skills. By taking the time to train them, they can jump straight into projects — and be motivated to add those skills to their CVs.

3. HAVE STRONG TEAM BUILDING PRACTICES. This will help contractors build rapport with permanent team members, who might otherwise stick together. Try consistent low-key team building activities like weekly lunches or informal brainstorming sessions.

4. AVOID SUBTLE DIFFERENTIATORS. Eliminate elements, like different-coloured ID badges or introducing contract workers as a temporary employee as these can make contractors feel like outsiders.

5. REMEMBER YOUR PERMANENT STAFF. Clarify with both contractors and permanent employees what their role allocations and project aims are and make sure there is no potential for conflict. Ensure that managers are the ones who bring contractors up to speed on the office culture so that other team members are not left having to do this extra job each time a new contractor comes on board.


Numbers at a glance

Singapore has experienced a challenging 2016, with bright spots observed in the fast-expanding healthcare, fintech and digital sectors. What are employers’ hiring intentions for 2017?

HEADCOUNT INCREASES of employers surveyed are expected

to recruit new hires

36%

who plan to increase headcount say they are actively seeking mid-level employees

61%HIRING ACTIVITY

of Singapore employers expect to increase salaries by ≤5% in the next 12 months for management to senior-level employees

58%SALARY INCREASES


TOP 3 FOCUS POINTSFOR DIVERSITY AND INCLUSION PROGRAMMES

TALENT ATTRACTION & RETENTION INITIATIVES

Salary increases

55%1Learning and development

46%2 Workplace flexibility

40%3

Minority ethnic groups

64%1

Gender

59%2 Age

44%3

say their organisations support diversity and inclusion

97%DIVERSITY & INCLUSION


Singapore overview

The outlook for Singapore is expected to remain largely unchanged from 2016. Recruitment activity levels are expected to be comparable with last year. Hiring patterns will be consistent with the region — 93% of the Singapore companies surveyed have said that they will be increasing or maintaining headcount.

Digital, technology and healthcare are likely to be the country’s fastest-growing sectors, with the Singapore government pledging to boost investment in these sectors. Recently, for example, a funding scheme was put into place to support locally-based fintech (financial technology) trials, setting the path for the sector’s growth. Employers across these three sectors are likely to continue hiring actively, though recruitment efforts will largely focus on filling niche roles.

Against this backdrop, contracting continues to increase in popularity among Singapore-based employers with nearly 70% of companies surveyed already using contractors, especially in the areas of operations, technology and business support. Contracting offers employers flexibility in terms of headcount and budget. Through contracting, companies are also able to select from a larger pool of potential candidates than would otherwise be available to them.

Unsurprisingly, searching for the perfect candidate to fill in-demand roles will still be an uphill battle for many companies, who require candidates with specific skills, including broad geographical knowledge and clearly determined levels of experience. Employers might not be willing to compromise, displaying a strong preference to recruit only the perfect candidate.

While this raised talent bar is logical from a business perspective, such an approach may not be sustainable in the long run. Not only do longer hiring processes leave potential employees frustrated, positions that are left open for extended periods may compromise business growth. Employers may need to adopt a more open-minded approach, hiring a candidate with most – not all – the required skills and invest in his/her training and development instead. Employers also need to be aware that candidates may be more risk averse in a cautious environment and potentially reluctant to make a job change. Such an approach not only builds up the talent pool, but also sets the stage for employee retention and employer branding.


Insights


R&D engineering roles, roles and positions in application engineering

for power electronics (such as inverters/drives and power systems).

Singapore’s aerospace industry and the power electronics, smart energy and smart consumer product sectors will experience strong growth in 2017. In the aerospace industry in particular, new sites and facilities are being built, and several companies are looking to expand. Data centres are also poised for growth as Singapore retains its status as a regional hub.

Over the next 12 months, candidates are likely to adopt a cautious approach to job searching, favouring jobs that offer long-term stability and career advancement. Employers will also be more cautious when hiring, screening candidates more thoroughly to ensure they have the requisite skills and are culturally the right fit for a position. The recruitment process might consequently become more lengthy.

Candidates looking to switch jobs are likely to command increments of 10 to 15%.

In this market, candidates with technical experience in aerospace, power electronics and research and development (R&D) across various industry sectors will continue to be sought after.

Hot jobs

Salary Benchmarks

Please note: 1. Market rates are becoming much less homogeneous; while we have taken great care, these salary ranges can only be approximate guides. Since there are often specific circumstances relating to individual companies, please call us for additional information. 2. These figures are generally the total remuneration (i.e. cash), excluding bonus/incentive schemes. 3. Variable and incentive schemes are becoming more common through the different levels of management and are not included in these figures.



R&D Engineering/R&D

Operations

Quality Control/Assurance

Field Service/Service Engineering

SALARY RANGE (SGD’000)

ROLE 2-5 YEARS 5-10 YEARS 8+ YEARS 15+ YEARS

Design Engineer 45 – 75 70 – 100 100 – 150 150 – 160+

Application Engineer 60 – 90 70 – 100 100 – 150 150 – 160+

Engineering Manager N/A N/A 100 – 150 N/A

Engineering Director N/A N/A N/A 150 – 250


ROLE 3-5 YEARS 5-10 YEARS 10-15 YEARS 15+ YEARS

Manufacturing 50 – 70 70 – 90 100 – 160 200+

Process Engineering 60 – 80 90 – 120 120 – 150 180+

Mechanical Engineering 60 – 80 90 – 120 120 – 150 180+

Electrical Engineering 60 – 80 90 – 120 120 – 150 180+

Controls/Automation 60 – 80 90 – 120 120 – 150 180+

EHS 60 – 80 90 – 120 120 – 150 180+


ROLE 2-5 YEARS 5-10 YEARS 10+ YEARS 15+ YEARS

Quality Engineer 40 – 75 70 – 100 N/A N/A

Quality Manager N/A N/A 80 – 120 N/A

Quality Director N/A N/A N/A 150 – 250


ROLE 2-5 YEARS 5-8 YEARS 8+ YEARS

Field Service Engineer 40 – 65 65 – 90 N/A

Service Manager N/A 80 – 100 N/A

Service Director N/A N/A 120+

Sales Engineer 40 – 80 70 – 100 N/A

Sales Engineering Manager N/A N/A 100 – 150

ENGINEERING & MANUFACTURING

Salary Benchmarks




Project/Programme Management


ROLE 2-5 YEARS 5-10 YEARS 10+ YEARS

Project Manager 70 – 110 100 – 120 N/A

Project/Programme Director N/A N/A 150 – 230

ENGINEERING & MANUFACTURING


Insights

Commercial finance business partners, business analysts and

roles in hybrid finance operations and analysis.

Recruitment activity for finance and accounting professionals is likely to pick up in manufacturing, pharmaceutical, healthcare and technology. In particular, these sectors will be open to hiring contract workers to support their expanding operations.

Over the next 12 months, hiring will remain relatively flat in finance and accounting functions at the middle-management level. There will be opportunities for senior-strategic hiring and at the more junior levels (for operational finance roles). Most employers are also seeking candidates with strong business partnering experience.

Both challenges and opportunities exist in the market for contract work. With the market expected to see limited growth, contracting will be a popular talent solution as more high-quality candidates are warming to the idea of working on a contract basis. However, some employers may not be well-informed about the benefits of contract employment.

Candidates who change jobs can expect to receive between 8 and 10% in increments, with contract workers usually commanding between 5 and 7%. Employers are likely to favour candidates with experience in areas such as commercial business partnering, shared services, hybrid finance operations, analysis and tax.

On the contracting front, employers will favour candidates with formal qualifications, who have experience with SAP and have worked for multinationals. Candidates with a real breadth of experience, as well as exposure to different industries, will be in demand.

Hot jobs

Finance & Accounting

Salary Benchmarks



Finance

General


ROLE 3-5 YEARS 5-10 YEARS 10-15 YEARS

Accounts Payable Accountant 45 – 60 60 – 80 N/A

Financial Accountant 50 – 65 65 – 100 N/A

Cost Accountant 50 – 65 65 – 100 N/A

Credit Analyst 50 – 65 65 – 90 N/A

Group Accountant – Consolidation 60 – 80 80 – 100 N/A

Financial/Business Analyst 50 – 80 80 – 120 100 – 150

Accounts Payable Manager 70 – 90 90 – 140 110 – 150

Finance Manager (Small/Medium Organisation) 80 – 100 90 – 120 120+

Finance Manager (Shared Services Centre) 80 – 100 100 – 120 120+

Finance Manager (Large Organisation) N/A 100 – 150 150+

Group Finance Manager N/A 80 – 130 100 – 150

Financial & Planning Analysis Manager N/A 110 – 150 160+

Financial Controller (Small/Medium Organisation) N/A 120 – 160 160+

Financial Controller (Large Organisation) N/A 140 – 180 180+

Finance Director (Shared Services Centre) N/A 160 – 200 200+

CFO/Finance Director (Large Organisation) N/A 250 – 300 300 – 350

FINANCE

Salary Benchmarks



Finance

Specialist

Professional Services & Public Accounting



Pricing Analyst 60 – 80 80 – 100 100 – 140

Treasury Analyst 60 – 80 80 – 120 N/A

Tax Analyst 60 – 80 80 – 110 N/A

Internal Auditor 65 – 90 90 – 130 120+

Pricing Manager 100 – 120 120 – 150 150+

Revenue Controller 80 – 120 120 – 180 130+

Corporate Finance Manager 90 – 120 120 – 180 180+

Treasury Manager 100 – 120 120 – 180 180+

Internal Audit Manager 100 – 130 130 – 150 150 – 200

Tax Manager 100 – 150 130 – 180 180+

Credit Manager N/A 100 – 130 130 – 150

Costing Manager N/A 100 – 150 150+

Corporate Finance Director N/A 220 – 250 250 – 300

Treasury Director N/A 220 – 250 250 – 300

Internal Audit Director N/A 220 – 250 250 – 300

Tax Director N/A 240 – 280 280+



External Audit 50 – 70 70 – 150 120+

Tax 50 – 70 70 – 150 130+

Management Consultancy 60 – 100 100 – 150 140+

Corporate Finance 60 – 100 100 – 150 140+

Risk & Compliance 65 – 90 90 – 130 150+

FINANCE

Salary Benchmarks



Finance – Contracting

General

Specialist



Accounts Payable Accountant 42 – 58 58 – 78 N/A

Financial Accountant 48 – 66 66 – 96 N/A

Cost Accountant 48 – 66 66 – 96 N/A

Credit Analyst 46 – 66 66 – 96 N/A

Group Accountant – Consolidation 60 – 78 78 – 102 N/A

Financial/Business Analyst 60 – 84 84 – 120 N/A

Accounts Payable Manager 70 – 90 84 – 120 N/A

Finance Manager (Small/Medium Organisation) 72 – 96 96 – 120 120+

Finance Manager (Shared Services Centre) 84 – 102 102 – 120 120+

Finance Manager (Large Organisation) 90 – 120 120 – 168 168+

Group Finance Manager N/A 84 – 120 120+

Financial & Planning Analysis Manager 90 – 120 120 – 150 150 – 216

Financial Controller (Small/Medium Organisation) 120 – 150 150 – 180 180 – 216

Financial Controller (Large Organisation) 132 – 156 156 – 192 192+

Finance Director (Shared Services Centre) 132 – 156 156 – 192 192+

CFO/Finance Director (Large Organisation) 192 – 216 216 – 240 240+



Treasury Analyst 60 – 78 78 – 96 N/A

Tax Analyst 60 – 78 78 – 96 N/A

Treasury Manager 96 – 120 120 – 168 168+

Tax Manager 96 – 120 120 – 168 168+

Credit Manager 72 – 96 96 – 120 120 – 144

Costing Manager N/A 102 – 144 144+

FINANCE – CONTRACTING


Insights

Financial Services

Roles in change management, risk analytics and big data as

well as jobs involving cost savings and efficiency gains.

For contractors: business analysts in operational risk and functional

business analysts.

The financial services and corporate governance sectors are expected to face some challenges in 2017. Most banks are consolidating and funds are performing below expectations. Insurance and commodities firms, as well as private equity and asset management, are expected to maintain status quo, with only some pursuing growth.

However, there will be opportunities in the financial technology (fintech) space as banks move into system automation for trading processes. There will also likely be a growing demand for contractors in corporate and private banking.

We also see a new trend with Asian origin banks focusing on international expansion and growing their market share/penetration with Asia, resulting in opportunities across the board.

With looming uncertainty in the next 12 months, many firms are investing in data analytics, market trend analysis and risk functions. These roles are perceived to be crucial to identify cost efficiencies, new market opportunities and business threats.

In the current market, permanent employees who change jobs can expect between 8 and 10% in increments. However, those who are unemployed before starting a new role may receive pay that is on par with their previous salary. Contractors who switch jobs can expect between 8 and 12% in increments.

Candidates with experience in risk, regulatory compliance, analytical skills and who are proficient in business Mandarin are likely to be sought after.

Hot jobs

Salary Benchmarks



Finance

Financial Control – Investment Banking

Management Reporting/FP&A

Regulatory Finance

Product Control

BONUS

ROLE EXPERIENCE SALARY (SGD'000) LOW (%) MEDIUM (%) HIGH (%)

Analyst 1-3 years 48 – 96 5 15 30

Associate/Assistant Vice President 3-6 years 100 – 150 5 15 30

Vice President 6-10 years 150 – 200 5 15 30

Senior Vice President/Director 10+ years 200 – 300 5 15 40

Country Chief Financial Officer 12+ years 300+ 5 20 50

Regional Chief Financial Officer 15+ years 400+ 5 25 60

BONUS


Analyst 1-3 years 48 – 100 5 15 25



Executive Director 10+ years 240 – 300 5 15 40

Managing Director/Head 15+ years 300+ 5 25 60

BONUS


Analyst 1-3 years 48 – 100 5 15 25





BONUS


Analyst 1-3 years 60 – 100 5 15 25




Manging Director/Head 15+ years 320+ 10 25 60

FINANCIAL SERVICES

Salary Benchmarks



Finance

Valuations

Tax

Treasury

Project Accounting

BONUS


Analyst 1-3 years 60 – 100 5 15 25





BONUS


Analyst 1-3 years 60 – 120 5 10 25





BONUS


Analyst 1-3 years 60 – 120 5 10 25





BONUS


Analyst 1-3 years 40 – 90 5 15 25




Head 15+ years 280+ 5 20 50

FINANCIAL SERVICES

Salary Benchmarks



Finance

Fund Accounting – Investment Management

Corporate Accounting – Investment Management

Financial Control – Insurance

BONUS


Analyst 1-3 years 36 – 60 5 10 25

Associate/Assistant Manager 3-5 years 60 – 100 5 10 30

Manager 5-7 years 100 – 160 5 10 30

Senior Manager 7-10 years 160 – 240 5 15 50

Director/Head 10+ years 240+ 5 15 50

BONUS


Analyst 1-3 years 36 – 60 5 10 25


Manager 5-7 years 120 – 160 5 10 30


Director 10+ years 200 – 360 10 25 60

Country Chief Financial Officer 12+ years 360 – 500 10 30 50


BONUS


Analyst 1-3 years 48 – 96 5 15 30

Assistant Manager 3-5 years 100 – 150 5 15 30

Manager 5-7 years 150 – 200 5 15 30


Financial Controller 10+ years 200+ 10 20 40

Country Chief Financial Officer 12+ years 240+ 10 20 50


FINANCIAL SERVICES

Salary Benchmarks



Internal Audit

Investment Banking

Investment Management

Insurance

BONUS


Analyst 1-3 years 60 – 84 5 15 25





BONUS


Analyst 1-3 years 64 – 80 0 15 30


Manager 5-7 years 130 – 200 10 25 60


Director/Head of Audit 10+ years 280+ 10 25 60

BONUS


Auditor 1-3 years 64 – 80 5 10 25


Manager 5-7 years 130 – 200 10 25 40


Director/Head of Audit 10+ years 280+ 20 25 50

FINANCIAL SERVICES

Salary Benchmarks



Risk Management

Operational Risk

Market Risk

Credit Risk

Quantitative Analysis

BONUS


Analyst 1-3 years 48 – 96 5 15 25





BONUS


Analyst 1-3 years 48 – 96 5 15 30





BONUS


Analyst 1-3 years 48 – 96 5 15 30





BONUS


Analyst 1-3 years 50 – 96 10 15 30





FINANCIAL SERVICES

Salary Benchmarks



Compliance

Investment Banking

Investment Management

Insurance

Anti-Money Laundering

BONUS


Analyst 1-3 years 60 – 100 5 15 30





BONUS


Analyst 1-3 years 64 – 90 0 15 30


Manager 5-7 years 140 – 220 10 25 60



BONUS


Assistant 1-3 years 60 – 100 5 15 30


Manager 5-7 years 190 – 280 10 20 40



BONUS


Analyst 1-3 years 60 – 100 10 20 30





FINANCIAL SERVICES

Salary Benchmarks



Operations

Settlements & Corporate Actions

Trade & Sales Support

Client Services & Onboarding

Project Operations

BONUS


Analyst 1-3 years 36 – 60 5 10 25





BONUS


Analyst 1-3 years 60 – 90 5 10 25





BONUS


Analyst 1-3 years 36 – 72 5 15 25





BONUS


Analyst 1-3 years 60 – 90 5 10 25





FINANCIAL SERVICES

Salary Benchmarks



Operations

Operations – Investment Management

Global Markets – Front Office Banking & Financial Markets

Corporate Finance

Equity Research

Sales & Trading

BONUS


Analyst 1-3 years 60 – 90 5 15 30


Manager 5-7 years 168 – 260 10 25 50



BONUS


Analyst 1-3 years 60 – 144 5 25 50

Associate 3-6 years 144 – 300 20 35 100


Director 10+ years 310 – 540 35 50 150

Managing Director 15+ years 460+ 35 50 100+

BONUS


Research Associate 1-3 years 96 – 170 15 25 70

Senior Research Associate 3-5 years 120 – 192 15 35 70

Writing Analyst 5-7 years 168 – 360 20 40 75+

Sector Head 7+ years 400+ 35 50 100+

BONUS


Analyst 1-3 years 84 – 144 20 30 50

Associate 3-6 years 144 – 280 15 50 75

Vice President 6-10 years 280 – 434 25 50 75+

Director 10+ years 310 – 540 25 50 75+


FINANCIAL SERVICES

Salary Benchmarks



Global Markets – Front Office Banking & Financial Markets

Corporate Banking Relationship Manager

Global Markets – Sector, Investment Management

Investment Research (Equity & Fixed Income)

Structured & Project Finance

Transaction Banking and Trade & Commodity Finance

BONUS


Analyst 1-3 years 60 – 100 5 12 25

Associate 3-6 years 90 – 170 8 25 50


Director 7-12 years 320 – 440 35 50 70

Managing Director 12+ years 380+ 35 50 75

BONUS


Analyst 1-3 years 60 – 140 5 12 25

Associate 3-6 years 140 – 240 15 25 50


Director 10+ years 320 – 500 25 50 100


BONUS


Analyst 1-3 years 60 – 140 10 20 30

Associate 3-6 years 140 – 240 10 25 50


Director 7-12 years 320 – 440 35 50 70


BONUS


Analyst 1-3 years 60 – 100 5 12 25

Associate 3-6 years 90 – 170 8 25 50


Director 7-12 years 320 – 440 35 50 70


FINANCIAL SERVICES

Salary Benchmarks



Global Markets – Sector, Investment Management

Portfolio & Fund Management

Institutional and Retail Fund Sales & Distribution

Private Banking

Private Equity

BONUS



Director 10+ years 280 – 500 25 50 100


BONUS


Analyst 1-3 years 68 – 110 5 12 20

Associate 3-6 years 124 – 200 15 35 50


Director 10+ years 260 – 400 25 50 75


BONUS


Private Banking Assistant 1-8 years 60 – 132 15 25 50

Assistant Private Banker 3-8 years 120 – 200 15 35 50

Junior Private Banker 5-10 years 200 – 390 15 50 100

Director 10+ years 320 – 500 25 50 100


BONUS


Analyst 1-3 years 84 – 144 20 30 50

Associate 3-6 years 144 – 300 25 50 100


Director 10+ years 300 – 540 35 65 100+


FINANCIAL SERVICES

Salary Benchmarks



Finance

Regulatory Finance

ROLE EXPERIENCE SALARY (SGD'000)

Analyst 1-3 years 48 – 96

Associate/Assistant Vice President 3-6 years 96 – 144

Product Control

ROLE EXPERIENCE SALARY (SGD’000)



Project Accounting




Fund Accounting – Investment Management



Associate/Assistant Manager 3-5 years 60 – 102

Valuations



Tax



Treasury



FINANCIAL SERVICES – CONTRACTING

Salary Benchmarks



Compliance

Investment Banking



Operations

Settlements and Corporate Actions

Anti Money Laundering







Client Services & Onboarding




FINANCIAL SERVICES – CONTRACTING

Finance

Corporate Accounting – Investment Management




Insights


Roles in quality assurance, engineering, production

and compliance.

Within the healthcare and life sciences sector, the high growth industries for 2017 are likely to be biotech, pharmaceutical and diagnostics.

As Singapore maintains its position as Asia’s fastest growing bio-medical hub, the lack of specialised skill sets will likely be a challenge for many employers. To cope with a tighter foreign labour policy, many organisations in Singapore have started to invest more in the local workforce.

With more candidates starting to factor in overall benefits before deciding on a role, companies have started adopting flexible work hours and relooking their wellness policies in order to attract and retain staff. Companies are also executing more internal transfers and promotions as part of their talent management strategy.

Companies with a shortage of existing talent can also consider attracting non-pharmaceutical professionals with transferable skills from related industries, such as electronics and engineering.

In general, candidates moving between jobs may expect salary increases of 8 to 12%.

Hot jobs

Salary Benchmarks




Clinical Research

Research & Development

Quality & Compliance

Operations



Drug Safety/Pharmacovigilence 50 – 65 65 – 90 90 – 150 N/A

Data Management 50 – 70 70 – 100 100 – 120 N/A

Clinical Operations 50 – 70 70 – 100 100 – 120 N/A

Biostatistician 50 – 80 80 – 100 N/A N/A

SAS Programmer 50 – 80 80 – 100 N/A N/A

Medical Affairs 110 – 130 130 – 180 180 – 250 300+



Scientists (non-PhDs) 45 – 80 80 – 100 100 – 140 N/A

Scientists (PhDs) 60 – 90 90 – 120 120 – 180 200+



Quality Control 45 – 80 80 – 120 120 – 140 N/A

Microbiology 45 – 80 80 – 120 120 – 140 N/A

Regulatory Affairs 60 – 90 90 – 120 120 – 150 200+

Quality Assurance (GMP) 60 – 90 90 – 120 120 – 150 200+



Manufacturing 50 – 70 70 – 90 100 – 160 200+

Process Engineering 60 – 90 90 – 120 120 – 150 180+

Mechanical Engineering 60 – 90 90 – 120 120 – 150 180+

Electrical Engineering 60 – 90 90 – 120 120 – 150 180+

Controls/Automation 60 – 90 90 – 120 120 – 150 180+

EHS 60 – 90 90 – 120 120 – 150 180+

Validation 60 – 90 90 – 120 120 – 150 180+

HEALTHCARE & LIFE SCIENCES

Salary Benchmarks




Commercial SALARY RANGE (SGD’000)


Sales/Medical Representative 50 – 80 90 – 120 N/A N/A

Product Manager 60 – 80 80 – 110 100 – 130 N/A

Senior/Group Product Manager 80 – 100 100 – 120 110 – 150 N/A

Sales Manager 80 – 100 100 – 140 120 – 150 N/A

Marketing Manager 100 – 120 100 – 150 120 – 150 150+

Sales Director 100 – 120 120 – 180 150 – 200 200+

Marketing Director 120+ 150 – 180 180 – 220 220+

General Manager 120 – 150 150 – 200 200 – 250 300+

HEALTHCARE & LIFE SCIENCES


Insights

Human Resources

HR business partners specialising in talent management and talent

acquisition specialists.

The healthcare, technology and e-commerce markets are expected to grow significantly in Singapore and firms in these sectors will be recruiting human resources (HR) personnel to support this growth.

With a sluggish economy, many companies are streamlining their costs and HR professionals are increasingly expected to multitask and demonstrate measurable, commercial value.

HR business partnering is also gaining popularity in Singapore as organisations realise the value of aligning HR processes and policies, in particular employee retention, with business goals. As more companies restructure their work processes, candidates with expertise in change management and organisational transformation will be in demand.

There is also a move towards specialist talent acquisition roles, rather than recruitment being one of several responsibilities given to generalists.

Likewise, the demand from talent management professionals with experience in performance management and succession planning has increased.

In general, candidates moving between jobs may expect salary increases of about 8 to 12%.

Hot jobs

Salary Benchmarks



Human Resources

Banking & Finance

Commerce & Industry



Payroll Specialist 45 – 65 65 – 100 100 – 130 130+

Mobility Specialist 50 – 70 70 – 120 120 – 150 150+

HRIS Specialist 50 – 85 85 – 130 130 – 150 150+

Learning & Development Specialist 60 – 100 100 – 150 150 – 200 200+

Recruitment Specialist 60 – 100 100 – 150 150 – 200 200+

HR Generalist/Business Partner 60 – 110 110 – 180 180 – 240 240+

Organisational Development 60 – 110 110 – 200 200 – 300 300+

Compensation & Benefits Specialist 60 – 120 120 – 220 220 – 300 300+

Head of Human Resources N/A N/A 250+ 300+



Payroll Specialist 40 – 60 60 – 90 90 – 110 110+

Mobility Specialist 50 – 65 65 – 100 100 – 140 140+

HRIS Specialist 50 – 80 80 – 120 120 – 150 150+

Learning & Development Specialist 50 – 80 80 – 120 120 – 160 160+

Recruitment Specialist 50 – 80 80 – 120 120 – 165 165+

HR Generalist/Business Partner 55 – 100 100 – 160 160 – 200 200+

Organisational Development 55 – 100 100 – 160 160 – 220 220+

Compensation & Benefits Specialist 60 – 90 90 – 150 150 – 250 250+

Head of Human Resources N/A N/A 200 – 300 300+

HUMAN RESOURCES


Insights

Legal

Regional in-house counsel, compliance/ regulatory roles, and

transactional lawyers.

The outlook for Singapore’s legal sector appears stable and legal process outsourcing, particularly in certain sectors, including financial services, may potentially increase as companies streamline costs.

Private practice is expected to face an interesting 2017. There will potentially be an oversupply of fresh graduates — more overseas law graduates are expected to return to Singapore — alongside the increasing number of experienced mid-level lawyers moving to in-house roles. More mid-level lawyers are leaving the practice citing stress and burnout as well as industry demands being perceived as out of sync with “Gen Y” expectations.

The in-house space is expected to see healthy levels of activity, particularly for mid-level lawyers. Companies are trying to reduce their reliance on external counsel for cost reasons as well as to build internal institutional knowledge and expertise.

Some global banks and multinational firms have slowed down recruiting due to concern over economic issues. This may be a challenge for candidates who are keen to explore only positions in global corporations as there are fewer openings available.

Overall, skills in demand for 2017 include compliance, mergers and acquisition, dispute resolution, regional experience (due to Singapore’s status as a South East Asian/Asia Pacific hub) and Mandarin proficiency.

In general, candidates moving between roles are likely to receive between 10 and 20% salary increases.

Hot jobs

Salary Benchmarks



Please note: The above table includes salary data collected from leading and international law firms.

Please note: The above table includes salary data collected from Singapore private and listed companies, and multinational corporations.

Please note: The above table includes salary data collected from international/investment banks, local banks, insurance companies and fund/private equity/security houses.

Legal

Private Practice

In-house Corporate

Financial Services

Paralegals


ROLE 3-5 YEARS PQE 5-10 YEARS PQE 10-15 YEARS PQE 15+ YEARS PQE

Private Practice (Local Firms) 70 – 150 95 – 200 190+ N/A

Private Practice (International Firms) 145 – 250 220 – 370 300+ N/A



In-house Corporate (MNC) 85 – 130 100 – 190 170 – 250 210+



Financial Services 100 – 180 120 – 240 200 – 350 280+



Paralegals 40 – 70 55+ N/A N/A

Corporate Secretariat (Non ICSA – Certified) 30 – 60 55+ N/A N/A

Corporate Secretariat (ICSA – Certified) 50 – 95 90+ N/A N/A

LEGAL


Insights

Marketing

Roles in digital marketing, corporate communications and strategic marketing as well as corporate

strategy managers.

The digital and e-commerce sectors are expected to perform well this year as most business-to-business (B2B) and business-to-consumer (B2C) companies start prioritising below-the-line marketing.

Increasingly, companies are restructuring their marketing teams, moving away from geographical area splits (South East Asia versus North Asia, for example) to economic zone models (emerging markets versus established markets). This is because marketing leaders have come to realise that countries in the same geographical zone, like Singapore and Myanmar, may require different marketing approaches, being at different economic development stages. As a result, professionals working under this new model can now specialise in marketing products or services for more developed markets or develop skill sets to tackle emerging markets.

Growth remains strong in digital marketing, both within e-commerce and in traditional businesses looking to explore new marketing opportunities. Junior to mid-level candidates are expected to know how digital platforms operate and how to generate sales from social media and the Internet, as well as how to decrease cost-per-acquisition and increase conversion ratios from online engagement to revenue. Those who have regional exposure across South East Asia and are adept at developing new businesses are sought after as well.

Within the design space, specialists are encouraged to continually develop their technical skills. It is now more challenging for print designers to switch jobs, compared with designers who have also developed skills in UI, UX, front-end development and coding. Designers are now also expected to be able to operate across various platforms, including print, web and mobile.

For mid to senior-level professionals, skills in demand include the ability to strategise for digital markets and strategic marketing. For junior to mid-level professionals, skill sets in demand include integrated/global/regional/CRM (customer relationship management) and digital marketing experience.

In general, candidates moving between roles may expect increases of 10 to 12%.

Hot jobs

Salary Benchmarks



Consumer Products & FMCG

Brand & Product Development

Marketing

Public Relations



Brand Manager/Product Manager 40 – 70 70 – 100 100 – 130 N/A

Senior Brand Manager/Senior Product Manager 50 – 80 80 – 110 100 – 130 130+



Trade Marketing Manager 40 – 70 70 – 100 100 – 130 130+

Marketing Manager 80 – 110 100 – 140 140+ N/A

Senior Marketing Manager N/A 100 – 140 140+ N/A

Marketing Communications Manager 50 – 80 90 – 100 100 – 130 130 – 150

Digital/E-commerce Marketing Manager 50 – 80 80 – 100 100 – 130 130+

Marketing Director N/A N/A 140+ 180+



Public Relations Manager 40 – 70 70 – 100 100 – 130 130+

Public Relations Director N/A 80 – 150 150 – 200 200+

MARKETING

Salary Benchmarks



Financial Services

Marketing, Public Relations & Communications

IT & Telecommunications


Research



Marketing Communications Manager 50 – 80 70 – 120 100 – 180 N/A

Marketing Communications Director N/A 100 – 180 150 – 250 200+

AVP/Marketing Manager N/A 70 – 120 90 – 150 N/A

VP/Senior Marketing Manager N/A 90 – 120 100 – 150 130+

Digital/eCommerce Marketing Manager 50 – 80 70 – 120 100 – 180 150+

Marketing Director N/A 100 – 180 150 – 250 200+

Public Relations/Corporate Comms Manager 50 – 80 70 – 120 100 – 180 N/A

Public Relations/Corporate Comms Director N/A 100 – 180 150 – 250 200+



Marketing/Marcom/Public Relations Executive 45 – 65 N/A N/A N/A

Marketing Communications Manager/Regional Communications Manager/ Public Relations Manager

N/A 70 – 100 100 – 130 130 – 160

Brand Manager N/A 70 – 100 100 – 120 120 – 150

Product Manager N/A 70 – 100 100 – 120 120 – 150

Marketing Manager N/A 70 – 100 100 – 120 120 – 150

Senior Marketing Manager N/A 85 – 110 110 – 145 145 – 180

Marketing Director N/A 95 – 120 120 – 155 155 – 195

Marketing Communications Director/ Public Relations Director

N/A N/A 150 – 180 180+



Market Research Director N/A N/A 140 – 180 180+

MARKETING

Salary Benchmarks



Manufacturing/Industrial

Marketing

Professional Services


Media/Entertainment

Event Management & Marketing



Marketing/Marcom/Public Relations Executive 40 – 60 N/A N/A N/A

Product Marketing Manager N/A 70 – 100 100 – 140 140 – 160

Marketing Manager N/A 75 – 110 110 – 130 130 – 150

Product Manager N/A 70 – 100 100 – 140 140 – 160

Marketing Communications Manager N/A 80 – 110 110 – 140 140 – 160

Senior Marketing Manager N/A 85 – 110 110 – 150 150 – 170

Marketing Director N/A N/A 140 – 170 170 – 200



Marketing Manager 70 – 90 80 – 150 100 – 220 N/A

Digital/Social Media Manager 60 – 80 70 – 150 120 – 200 N/A

Research/Insights Manager 70 – 90 80 – 150 100 – 220 N/A

Public Relations/ Media Communications Manager

N/A 100 – 170 120 – 250 180+

Marketing Director N/A 100 – 170 120 – 250 180+



Marketing Manager N/A 80 – 150 100 – 160 160+

MARKETING

Salary Benchmarks



MARKETING

Healthcare & Lifesciences



Product Manager 60 – 80 80 – 110 N/A N/A

Group Product Manager 100 – 130 130 – 160 150+ N/A

Communications Manager 65 – 80 80 – 130 120 – 220 180 – 250

Marketing Manager 80 – 100 90 – 150 140 – 195 200+

Marketing Director N/A N/A 180 – 220 220+

Design



Graphic Designer (Print) 30 – 42 42 – 60 54 – 84 N/A

Multimedia Designer 54 – 72 60 – 90 84 – 110 N/A

UI/UX Designer 54 – 72 72 – 96 96 – 120 N/A


Insights


Logistics managers, planners, supply chain managers, global category

managers and indirect procurement specialists.

The next 12 months present both challenges and opportunities for businesses operating out of Singapore. The market is likely to be volatile due to a significant decline in the oil and gas industry. Contracting, an increasingly popular talent solution, provides more flexibility for employers to adjust their workforce with the ebb and flow of the economy.

The medical devices and nutrition sectors will continue to perform well. In particular, many nutrition companies looking to set up a regional presence have picked Singapore as their Asia-Pacific base.

Other growth areas include the ingredients and flavours sector, packaging, consultancy businesses, e-commerce and third-party logistics.

Candidates moving between jobs can expect to receive between 7 and 12% in increments if they have been with the same employer for at least three years. Candidates with less than three years at their current job may receive the same pay, or up to a 5% increment, when they switch jobs.

In this market, skills that are valued include e-commerce experience within the supply chain field, project management, change management and transformation management expertise. Candidates with a supply chain background, as well as supply, demand and SOP planning experience, will be in demand.

Hot jobs

Salary Benchmarks




Oil & Gas/Pharmaceuticals

FMCG/Retail

Technology



Quality 50 – 70 80 – 110 120 – 160

Direct 50 – 100 100 – 150 150 – 200

Logistics/3PL 40 – 80 80 – 140 130 – 180

Supply Chain 40 – 80 90 – 140 150 – 230

Distribution/Warehousing 40 – 70 80 – 140 150 – 180

Planning 50 – 100 100 – 150 150 – 200

Indirect 50 – 100 100 – 150 160 – 220

LEAN/Six Sigma 60 – 100 100 – 160 160 – 220



Quality 50 – 80 80 – 110 120 – 160

Direct 50 – 85 85 – 140 130 – 190

Logistics/3PL 45 – 80 90 – 130 130 – 170

Supply Chain 50 – 90 90 – 140 150 – 220


Planning 50 – 90 90 – 150 150 – 220

Indirect 50 – 90 90 – 140 160 – 220

LEAN/Six Sigma 60 – 90 100 – 150 160 – 220



Quality 50 – 80 80 – 110 130 – 160

Direct 50 – 85 90 – 120 130 – 190

Logistics/3PL 50 – 80 85 – 120 130 – 170

Supply Chain 50 – 80 80 – 130 150 – 220


Planning 50 – 85 90 – 140 140 – 200

Indirect 50 – 90 100 – 140 160 – 220

LEAN/Six Sigma 60 – 100 100 – 170 180 – 240

PROCUREMENT & SUPPLY CHAIN

Salary Benchmarks




Financial Services



Purchasing/Procurement Officer 50 – 70 60 – 80 75 – 90 75 – 90

Procurement Specialist 70 – 90 90 – 130 130 – 170 140 – 180

Procurement Analyst 65 – 75 70 – 100 N/A N/A

Procurement Manager 80 – 100 100 – 140 120 – 180 140 – 180

Vendor/Supplier Relationship Manager 80 – 95 90 – 135 130 – 160 130 – 160

Strategic Sourcing Leader/Manager N/A 100 – 160 170 – 220 170 – 230

Category/Commodity Manager 90 – 120 120 – 150 150 – 200 180 – 220

GM/Head of Procurement N/A N/A 150 – 200 180 – 350

CPO/Director N/A N/A 200 – 250 220 – 350+

PROCUREMENT & SUPPLY CHAIN


Insights


Roles in leasing (residential and commercial) and investment

managers (asset and portfolio management).

Property prices continue to remain relatively flat in Singapore, which is likely to limit new constructions, in particular at the top end of the market. As a result, property developers are expected to focus on selling or leasing their units within project deadlines, with many recruiting for experienced leasing managers who have strong commercial acumen.

The financial sector is also expected to develop their current assets in real estate and candidates who have experience in both markets will be highly sought after.

Singapore’s construction sector faced stability challenges last year, due largely to fluctuations in the Chinese Yuan as it depreciated against the US dollar. The recent anti-corruption laws in real estate, combined with this currency devaluation, have had an impact on companies in this sector, resulting in a reduction in hiring activity.

However, the leasing (residential and commercial) and investment (asset and portfolio management) sectors have performed relatively well due to a stable market and strong asset management.


Hot jobs

Salary Benchmarks




Corporate Real Estate

Projects

Real Estate Investments – Agency

Real Estate Investments – Client



Environment Health & Safety 45 – 60 60 – 110 110 – 150 150+

Facilities Management & Corporate Services 45 – 60 60 – 108 115 – 160 160+

Property Management 45 – 65 65 – 120 120 – 140 140+

Security & BCP 45 – 60 60 – 125 125 – 180 180+

Leasing & Transaction Management 48 – 65 65 – 130 130 – 185 185+



Design Management 35 – 55 55 – 90 90 – 125 125+

Office Fit-Out 45 – 70 70 – 110 110 – 150 150+

Construction & Project Management 45 – 70 70 – 120 120 – 170 170+

Project Development 60 – 90 90 – 145 145 – 190 190+



Asset Management 45 – 80 80 – 120 120 – 180 180+

Portfolio Management 45 – 80 80 – 120 120 – 160 160+

Investment Management 45 – 80 80 – 130 130 – 200 200+



Asset Management 60 – 95 95 – 130 130 – 220 220+

Portfolio Management 55 – 90 95 – 130 130 – 220 220+

Investment Management 60 – 95 95 – 150 150 – 250 250+

PROPERTY & CONSTRUCTION


Insights

Sales

Roles in channel, sponsorship and media sales.

Technology and healthcare are set to be 2017’s high-growth industries. More new products from these sectors are expected to be developed and marketed this year, due to the increased focus on innovation, research and development.

However, with a slower market — and hence, a reduction in sales figures — overcoming the challenge to motivate and retain sales teams will be a key focus for senior leaders. Hiring decisions for key roles that impact multiple markets may be prolonged as employers practice caution amid uncertainty in the global markets.

Still, junior to mid-level sales professionals will continue to be in high demand across sectors. Candidates with strong technical knowledge and strong consultative sales techniques will be sought after as companies now have to tailor and value-add their solutions to clients’ needs, as opposed to purely competing on price levels.

Cross-selling and effective CRM (customer relationship management) solutions are growing in popularity, especially in large organisations serving major clients across different business lines and countries. This has translated into an increased demand for professionals with regional experience in CRM analysis, knowledge management and bid management.


Hot jobs

Salary Benchmarks



Advertising & Public Relations Agencies

Consumer Products & FMCG

Account Management

IT & Telecommunication

Sales & Account Management

Sales



Account Executive 42 – 54 48 – 54 N/A N/A

Account Manager 54 – 60 65 – 105 105 – 135 N/A

Account Director N/A 100 – 140 140 – 180 180 – 225

Business Director N/A N/A 150 – 180 180 – 220



Key Account Executive 48 – 54 54 – 66 N/A N/A

Assistant Key Account Manager 54 – 60 60 – 66 N/A N/A

Key Account Manager 60 – 72 70 – 100 100 – 130 130+



Sales Executive 45 – 65 N/A N/A N/A

Channel Account Manager/Account Manager 54 – 60 70 – 90 90 – 100 110 – 135

Key Account Manager 55 – 70 70 – 90 90 – 100 110 – 135

Business Development Manager 55 – 75 75 – 120 120 – 160 160 – 220

Sales Manager/Global Account Director 60 – 78 75 – 120 120 – 160 160 – 220

Managing Director/General Manager N/A N/A 190 – 240 240 – 300

Sales Director/Business Development Director N/A N/A 160 – 190 190 – 260



General Sales Manager 50 – 80 80 – 100 100 – 130 130+

Business Manager N/A 100 – 120 120 – 180 180+

Sales Director N/A N/A 220 – 280 250+

General Manager N/A N/A 200+ 250+

SALES

Salary Benchmarks



Manufacturing/Industrial

Sales

Professional Services

Business Development & Research

Healthcare & Lifesciences



Sales Engineer 30 – 45 54 – 66 N/A N/A

Senior Sales Engineer 35 – 55 54 – 66 N/A N/A

Account Manager 55 – 80 70 – 100 N/A N/A

Key Account Manager 40 – 55 70 – 100 N/A N/A

Sales Manager 60 – 78 75 – 110 110 – 130 130 – 150

Business Development Manager 60 – 78 90 – 130 110 – 150 150 – 170

Sales Director N/A N/A 130 – 160 160 – 170

Managing Director/General Manager N/A N/A 160 – 200 200 – 250



Business Development Executive 42 – 66 66 – 90 N/A N/A

Business Development Manager/ Account Manager

66 – 78 70 – 140 120 – 180 N/A

Sales Manager N/A 80 – 150 120 – 200 180+

Business Development Director N/A 100 – 150 120 – 150 200+



Sales Manager 60 – 85 90 – 130 150 – 250 250+

Business Unit Manager 90 – 110 120 – 150 N/A N/A

Business Development Manager/Director 90 – 100 120 – 150 175 – 225 225 – 300

Sales Director N/A N/A 150 – 220 220+

Business Unit Director N/A N/A 180 – 300 250 – 350

General Manager N/A N/A 180 – 300 300+

SALES

Salary Benchmarks



Retail

Media/Entertainment

Sales & Business Development

Financial Services



Regional Retail Operations Manager N/A 100 – 130 130+ N/A

Country General Manager N/A N/A 180+ 200+

Regional General Manager N/A N/A 200+ N/A



Assistant Sales Manager 48 – 60 60 – 66 N/A N/A

Sales/Business Development Manager 60 – 72 72 – 90 N/A N/A

Advertising/Media Sales Manager 60 – 72 72 – 90 N/A N/A

Sales Director N/A 100 – 120 120 – 180 180 – 260



Sales Executive 48 – 66 60 – 78 N/A N/A

Sales Manager 66 – 78 72 – 84 N/A N/A

Sales/Business Development Director N/A 100 – 140 140 – 220 200 – 350

SALES


Insights

Technology

Mobile developers, front-end developers, Linux system administrators, research engineers, cloud services specialists, DevOps

engineers, security consultants, UX/UI designers and data scientists.

The growth within Singapore’s e-commerce industry will lead to a rise in demand for professionals with DevOps/data science/Internet of Things experience.

Within e-commerce, the financial technology (fintech) sector is also set for growth, buoyed by significant government support. Singapore has been recognised as a regional financial hub, largely due to the growth of new payment, security and data management technologies. With the Singapore government initiating grants and schemes to develop the country’s fintech start-up domain, the number of new jobs in start-ups and newly set-up innovation centres will increase.

While firms may find it challenging to hire technology candidates who are both proficient in specific second languages and strong in technical skills, the government is making efforts to encourage and develop Singaporeans in these areas.

Increasingly, job seekers are now more receptive to joining Singaporean firms as they provide a stable work environment, and start-ups for technical growth and exposure. Local companies that provide training and development opportunities are also seen as more attractive.

In the market, candidates moving between roles expect to receive between 10 and 15% increments, but they might be willing to settle for less when there are opportunities for continued learning and progression. At the junior levels, candidates can expect between 8 and 12% in increments when they change jobs.

Candidates who have specific skills, including mobile development, cloud technology and e-commerce, are likely to be in demand.

Hot jobs

Salary Benchmarks



Testing

Database Management

Infrastructure/Network



Analyst Programmer 50 – 60 65 – 90 N/A N/A

Lead Analyst Programmer N/A 90 – 120 120 – 160 N/A

Architect – Applications, Solutions, Systems, Data N/A 125 – 135 140 – 200 180+

Enterprise Architect N/A 110 – 150 150 – 200 200+

Application Development Manager N/A 110 – 130 145 – 165 170+



Test Analyst 50 – 60 60 – 70 N/A N/A

Team Lead N/A 65 – 90 90 – 120 110+

Test Manager N/A 90 – 110 100 – 120 120+



Database Administrator 50 – 60 60 – 80 80 – 100 N/A

Senior Database Administrator/Data Analyst N/A 75 – 90 120+ 150+

Data Warehousing/Modelling Specialist 70 – 80 90 – 110 110 – 130 N/A

Data Architect N/A 90 – 120 120 – 180 180+



Network Support – 1st/2nd Level 50 – 60 50 – 65 N/A N/A

Security Analyst/Consultant 60 – 65 75 – 120 120 – 180 150+

Network Engineer 50 – 60 80 – 90 90 – 120 120+

Network Architect N/A 72 – 120 120 – 180 150+

Security Manager N/A 90 – 120 120 – 180 150+

Infrastructure Manager N/A 90 – 120 120 – 200 200+

TECHNOLOGY

Financial Services

Development, Design & Architecture

Salary Benchmarks



Financial Services

Project & General Management

Support/Administration



Project Co-ordinator 50 – 65 75 – 90 N/A N/A

Project Manager 75 – 100 60 – 120 120 – 180 180+

Project Director N/A N/A 150 – 200 180+

Business Analyst 65 – 90 72 – 90 90 – 120 120+

IT Manager N/A 90 – 130 140 – 180 180+

IT Director N/A N/A 150 – 250 250+

Chief Information Officer N/A N/A 180+ 250+



1st Level Helpdesk Analyst 45 – 55 55 – 65 N/A N/A

2nd Level Desktop Support Analyst 55 – 65 65 – 75 70 – 80 N/A

3rd Level Support Analyst N/A 72 – 120 120 – 180 180+

Unix Administrator 60 – 75 75 – 90 90 – 120 N/A

Helpdesk Manager N/A 48 – 72 72 – 100 N/A

Service Centre Manager N/A N/A 100 – 150 150+

TECHNOLOGY

Salary Benchmarks



Commerce

Development, Design & Architecture

Testing

Database Management

Infrastructure/Network



Analyst Programmer 40 – 50 55 – 75 N/A N/A

Lead Analyst Programmer N/A 70 – 90 90 – 150 150+

Architect – Applications, Solutions, Systems, Data N/A 72 – 150 120 – 180 180+

Enterprise Architect N/A N/A 120 – 180 180+

Application Development Manager N/A 72 – 120 120 – 150 150+



Test Analyst 40 – 50 50 – 90 N/A N/A

Team Lead – Testing N/A 60 – 85 90 – 120 120+

Test Manager N/A 110 – 135 130+ 120+



Database Administrator 45 – 55 55 – 65 N/A N/A

Senior Database Administrator N/A 60 – 100 90 – 120 120+

Data Warehousing/Modelling Specialist N/A 60 – 100 120 – 150 120+

Data Architect N/A 70 – 120 120 – 180 180+



Network Support – 1st/2nd Level 45 – 60 55 – 65 N/A N/A

Security Analyst/Consultant 65 – 75 75 – 85 85 – 110 N/A

Network Engineer 65 – 75 60 – 100 100 – 150 N/A

Network Architect N/A 100 – 120 120 – 150 150+

Security Manager N/A 90 – 120 120 – 150 150+

Infrastructure Manager N/A 90 – 120 120 – 180 180+

TECHNOLOGY

Salary Benchmarks



Commerce

Project & General Management

Support/Administration



Project Co-ordinator 50 – 65 70 – 85 N/A N/A

Project Manager 70 – 100 72 – 120 120 – 180 150+

Project Director N/A N/A 150 – 200 180+

Business Analyst 70 – 90 72 – 100 100+ N/A

Senior Business Analyst N/A 72 – 100 110 – 130 130+

IT Manager N/A 90 – 120 120 – 180 150+

IT Director N/A N/A 150 – 200 200+

Chief Information Officer N/A N/A 180+ 250+



1st Level Helpdesk Analyst 45 – 55 50 – 60 N/A N/A

2nd Level Desktop Support Analyst 60 – 70 65 – 70 N/A N/A

3rd Level Support Analyst N/A 70 – 80 80 – 90 N/A

Unix Administrator 60 – 70 75 – 90 N/A N/A

Helpdesk Manager N/A 70 – 85 90 – 120 N/A

Service Centre Manager N/A N/A 100 – 150 150+

TECHNOLOGY

SINGAPORE

One Raffles Place Office Tower 2#09-61Singapore 048616Singapore T +65 6533 2777 | F +65 6533 7227 [email protected]

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Singapore Salary & Employment Outlook - Michael Page · Singapore Salary & Employment Outlook...

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