SInGaporE 2014 Salary & EmploymEnt ForEcaSt

Transcription

1 SINGAPORE 2014 Salary & Employment Forecast

2 welcome Welcome 3 Market Overview 4 Accounting & Finance 11 Engineering & Manufacturing 23 Financial Services 31 Healthcare & Life Sciences 45 Human Resources 57 Legal 66 Procurement & Supply Chain 74 Property & Construction 84 Sales & Marketing 93 Technology 110 Contact Us 125 2

3 welcome Welcome to the 2014 Michael Page Salary & Employment Forecast report for Singapore. Consistent with previous years, this report provides senior executives and professionals with useful insights into salary forecasts and expectations, hiring intentions and recruitment challenges over the next 12 months. Our national annual salary survey, completed by over 300 employers this year, covers a range of issues and trends relevant to today s corporate sector and establishes the Salary & Employment Forecast as a highly reputable market leading report, based on in-depth national research. Whilst there are a number of current industry surveys that provide qualitative insight on hiring intentions and salary levels, the Michael Page Salary & Employment Forecast combines quantitative and qualitative research with our extensive involvement in the senior executive and professional employment market. Our clients come from all major industry sectors and range from market leading multinationals to local, small and medium sized enterprises. Consistent with our specialist approach to recruitment where we have dedicated teams of specialists servicing each discipline, market or industry sector, the report provides detailed salary guides for each discipline and industry. Salary tables divide job types by years of experience or size of organisation in order to obtain accurate and concise salary ranges. The results of our survey to employers are represented visually through the use of infographics. Featured is a range of employer insights on everything from workplace benefits and working hours to attraction and retention strategies. The market observations that accompany these are based on the extensive knowledge of our senior leadership team at Michael Page. It forms part of a suite of salary advice and information available to the market from Michael Page. These features can be found at I wish to thank everyone who contributed to this year s Salary & Employment Forecast and trust you will find it helpful and informative. We welcome your feedback and encourage you to contact us for further information or market specific advice at [email protected] Best regards, Jerome Bouin Managing Director Singapore Our areas of specialisation are: Accounting & Finance Engineering & Manufacturing Financial Services Healthcare & Life Sciences Human Resources Legal Procurement & Supply Chain Property & Construction Sales & Marketing Technology 3

4 market OVERVIEW The Singapore recruitment market remains strong, but employers are indicating that the general hiring atmosphere is no longer as buoyant as it once was. There is still an array of opportunities for professionals across all industries, and those with local knowledge and experience are in extremely high demand. The main difference in the recruitment landscape between now and 12 months ago stems from employers beginning to exercise more caution. As Singapore leans towards global influences such as the United States, Europe and Australia, companies will now start to introduce tighter regulation into the recruitment process. Approvals are now often required from all levels of management, and companies are looking for a perfect fit in terms a prospective employee s skills and experience in line with the responsibilities of the role. With more focus on compliance, there is less room for compromise. In general, the market is currently quite averse to risk. There is strong preference for local talent, which is in part driven by the local regulatory bodies enforcing tighter conditions on working visas, and also by companies looking to ensure employees have the local knowledge needed to step into a new role with confidence. A significant percentage of employers (48% of those surveyed) have indicated that they are expecting skills shortages over the next 12 months which represents the prevailing caution on display. In a competitive hiring market, it is of the highest importance to attract and maintain the top talent. Some 53% of survey respondents expect to see staff turnover within the next 12 months, with most employees leaving their jobs to seek a higher salary. As companies compete to attract and hire from the fixed talent pool, this has resulted in role rotations across higher-end talent. When it comes to retention, companies are offering competitive packages encompassing both salary increases and worklife balance initiatives in addition to training and career progression opportunities (90% of survey respondents expect to award staff bonuses this year). An emerging trend is the growing popularity of graduate programs as a strategy to attract the strongest candidates early and to expose and familiarise them with the company s culture. In 2014 s employment market, businesses will need to find a balance between meeting compliance requirements and seizing the opportunity in order to attract the right professionals that will help them develop a stronger proposition in an already thriving market. As South East Asia continues to grow, Singapore is well positioned to benefit from the continued influx of businesses looking to establish themselves regionally. Main areas of growth include business services, healthcare and biomedical sciences, and high level industries. Engineering also looks set to continue as a key growth area throughout In addition, as organisations continue to set up headquarters locally, this produces sustained demand for workers in the corporate space. Professionals from a range of backgrounds are required to manage all departments, from human resources, to finance, sales and marketing and IT support. Niche roles in oil and gas as well as healthcare and life sciences are expected to attract offshore candidates as companies in these industries face a shortage of local talent that have the required experience to operate in top technical and upper managerial roles. This results in companies being forced to look outside the local market as they seek to sustain local operations. 4

5 Market OVERVIEW Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (15%) Slightly stronger (19%) Steady (54%) Slightly weaker (8%) Weaker (4%) 48% 38%? 14% Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months Yes, it will cause salaries to rise above the inflation rate (47%) Yes, salaries will increase but only at the rate of inflation (40%) No, the skills shortage will not impact salary levels (13%) 42% Need to develop more targeted attraction strategies 27% Source talent from overseas 16% It will be difficult to maintain headcount 13% None 2% Other Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Finance 5

6 Market OVERVIEW Salary and Remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 9% All my employees will receive the same percentage increase 74% 1% - 5% 6% - 10% 11% - 15% 70% 23% 5% All my employees will receive an increase, but it will vary according to performance 12% 16% - 20% 1% 21% - 30% 1% Only my best-performing employees will receive an increase 5% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* 56 % Global economic conditions 52 % 45 % 9 % 6 % 5 % Domestic economic conditions Competition with other companies Other (company performance, individual performance, inflation, etc.) Not sure Don t expect any factors to particularly impact salaries * More than one option could be selected. Finance 6

7 Market OVERVIEW Salary and Remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 60% 40% 90% 10% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Other Team performance 1 % 3 % 16 % 14 % Individual performance Company performance 1% - 5% 6% - 10% 20% 28% 11% - 15% 16% - 20% 25% 15% 21% - 30% 8% 31 40% 2% Above 40% 2% 66 % Combination of all Finance 7

8 Market OVERVIEW Attraction and retention Employer expectations for staff turnover in the next 12 months 53% 24% Key reasons employees are likely to leave $ 54% 23%? 23% 9% 6% 6% 1% 1% Higher salary Broaden experience/ opportunity to learn Promotion Achieve better work/life balance Other (company relocation, company culture, job security, etc.) Greater training & development Overseas opportunities Most popular tools for attraction and retention Recognition and rewards Structured career progression Training and mentoring partnerships Strong company culture Work-life balance initiatives Company branding International opportunities 29% 28% 13% 9% 9% 8% 4% * More than one option could be selected. Finance 8

9 Market OVERVIEW Attraction and retention Most popular options offered to support employees work-life balance* 18% 24% 46% Sabbatical leave 63% Flexible working arrangements Team building/offsite activities Increased maternity/paternity leave Other strategies companies implement to attract and retain staff Open communication Salary reviews Bonus allocation Promotions Rotational job opportunities Individual development plan for top talent Employee engagement initiatives Flexible working arrangements 18% Alternative leave options (e.g. volunteering) 12% Other (no overtime, leave, etc.) Combination of benefits offered to employees* 82 % 65 % 46 % 42 % 34 % 16 % 12 % 9 % 6 % 6 % 6 % 4 % 4 % Parking Stock options Company car Education loan Personal loan Housing loan Mobile phone Transport allowance Personal laptop Medical and dental benefits Other (travel allowance, meal allowance, clothing allowance, gym membership, additional leave, etc.) None Travel pass * More than one option could be selected. Finance 9

10 Market OVERVIEW Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 16 % 56 % 20 % 7 % Change in average weekly working hours over the last 12 months Significantly increase (15+%) (4%) Increased (0-15%) (21%) Stayed the same (71%) Reduced (0-15%) (3%) Significantly decrease (15+%) (1%) Main reason for increased working hours 60% 22% 12% 3% 3% Business growth Staff leaving and not replaced Fewer headcount Promotion Other (restructure, increased business activity, etc.) Finance 10

11 Salary & Employment Forecast SINGAPORE 2014 Accounting & Finance Accounting & Finance

12 Accounting & Finance Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (13%) Slightly stronger (21%) Steady (52%) Slightly weaker (10%) Weaker (4%) 50% 40%? 10% Market observations: Overall, hiring activity of finance and accounting professionals in Singapore has been steady and this sentiment is expected to remain for the next 12 months A relatively stable economy in Singapore and a slight improvement in European and American economies have helped to maintain hiring activity of finance and accounting professionals in Singapore. The growing economies of countries throughout South East Asia is also creating a healthy outlook for the recruitment of finance and accounting professionals. Demand for finance and accounting professionals is expected to be highest within the aviation, healthcare, oil and gas and professional service sector. While demand could be higher in these sectors, there is a stable demand across other industry sectors as Singapore continues to be seen as a regional hub of Asia. There is a growing trend for companies to invest in these positions while looking for candidates who can business partner effectively with the objective in mind to improve overall business performance and profitability. As the trend to outsource shared services centres to lower cost neighbouring countries like Malaysia, India, China and Philippines continues, an increased demand for finance and accounting professionals to support more regional and complex operational setups is still likely to come out of Singapore and be based in Singapore. Companies continue to expand or build their regional hubs in Singapore as not only is Singapore an ideal place from a location and tax efficient standpoint, it is also a location where talent is most likely to be based. Among finance and accounting professionals in Singapore, roles in highest demand include those specialising in tax, business analysis, financial control and internal audit. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Accounting & Finance 12

13 Accounting & Finance Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months Yes, it will cause salaries to rise above the inflation rate (61%) Yes, salaries will increase but only at the rate of inflation (35%) 52% 22% 17% 9% No, the skills shortage will not impact salary levels (4%) Need to develop more targeted attraction strategies Source talent from overseas It will be difficult to maintain headcount None Accounting & Finance 13

14 Accounting & Finance Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 10% All my employees will receive the same percentage increase 67% 1% - 5% 6% - 10% 11% - 15% 76% 19% 2% All my employees will receive an increase, but it will vary according to performance 18% 16% - 20% 1% 21% - 30% 2% Only my best-performing employees will receive an increase 5% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salaries of finance and accounting professionals in Singapore have increased in the last 12 months by 1% to 10%. 57 % 50 % 35 % 9 % 9 % 4 % Global economic conditions Domestic economic conditions Competition with other companies Other (company performance, individual performance, inflation, etc.) Don t expect any factors to particularly impact salaries Not sure Finance and accounting professionals who specialise in tax and business planning and analysis are more likely to be awarded above average increases as companies compete to attract and retain talent in what is a shallow talent pool. * More than one option could be selected. Accounting & Finance 14

15 Accounting & Finance Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 63% 37% 84% 16% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 26% 21 % 12 % Company performance 6% - 10% 26% 11% - 15% 24% 16% - 20% 17% 21% - 30% 7% 67 % Combination individual, team and company performance Accounting & Finance 15

16 Accounting & Finance Attraction & retention Employer expectations for staff turnover in the next 12 months 57% Key reasons employees are likely to leave $ 30% 13%? 54% 21% 18% 4% 3% Higher salary Broaden experience / opportunity to learn Promotion Achieve better work-life balance Other (reorganisation, etc.) Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Recognition and rewards Structured career progression Work-life balance initiatives Strong company culture International opportunities Company branding 34% 34% 16% 10% 4% 2% 69% Flexible working arrangements 44% Team building/offsite activities 23% Increased maternity/paternity leave 17% Sabbatical leave 17% Alternative leave options (e.g. volunteering) Market observation: Most finance and accounting professionals in Singapore prefer to receive financial rewards such as transport allowances, mobile allowances, performance bonuses or any other form of cash allowances from their employer as opposed to non-financial rewards. 17% Other (no overtime, EAP program - counselling, etc.) * More than one option could be selected. Accounting & Finance 16

17 Accounting & Finance Attraction & retention Combination of benefits offered to employees* 71 % 60 % 52 % 45 % 29 % 19 % 15 % 10 % 8 % 6 % 4 % 4 % 2 % Parking Education loan Stock options Company car Housing loan Mobile phone Personal laptop Transport allowance Medical and dental benefits Other (travel allowance, petrol allowance, gym membership, etc.) Personal loan None Travel pass Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 28 % 33 % 31 % 7 % * More than one option could be selected. Accounting & Finance 17

18 Accounting & Finance Salary Tables GENERAL Role Salary SG$ 000 Accounts Payable Accountant 3 5 years years Financial Accountant 3 5 years years Cost Accountant 3 5 years years Credit Analyst 3 5 years years Group Accountant - Consolidation 3 5 years years Financial/Business Analyst 3 5 years years Accounts Payable Manager 3 5 years years Finance Manager (Small/Medium Organisation) 3 5 years years years 120+ Finance Manager (Shared Services Centre) 3 5 years years years 120+ Finance Manager (Large Organisation) 3 5 years years years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 18

19 Accounting & Finance GENERAL Role Salary SG$ 000 Credit Manager 3 5 years years years Costing Manager 3 5 years years years 150+ Financial & Planning Analysis Manager 3 5 years years years More than 15 years 200+ Financial Controller (Small/Medium Organisation) 3 5 years years years 180+ Financial Controller (Large Organisation) 3 5 years years years 250+ Credit Director 3 5 years years years More than 15 years 220+ Finance Director (Shared Services Centre) 3 5 years years years 250+ More than 15 years N/A CFO/Finance Director (Large Organisation) 3 5 years years years More than 15 years 350+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 19

20 Accounting & Finance SPECIALIST Role Salary SG$ 000 Pricing Analyst 3 5 years years Treasury Analyst 3 5 years years Tax Analyst 3 5 years years Internal Auditor 3 5 years years Pricing Manager 3 5 years years years 150+ Revenue Recognition 3 5 years years years Corporate Finance Manager 3 5 years years years 160+ Treasury Manager 3 5 years years years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 20

21 Accounting & Finance SPECIALIST Role Salary SG$ 000 Internal Audit Manager 3 5 years years years Tax Manager 3 5 years years years 200+ Corporate Finance Director 3 5 years years years More than 15 years 300+ Treasury Director 3 5 years years years More than 15 years 300+ Internal Audit Director 3 5 years years years More than 15 years 300+ Tax Director 3 5 years years years More than 15 years 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 21

22 Accounting & Finance PROFESSIONAL SERVICES & PUBLIC ACCOUNTING Role Salary SG$ 000 External Audit 3 5 years years years 120+ Tax 3 5 years years years 130+ Management consultancy 3 5 years years years 180+ Corporate Finance 3 5 years years years 180+ Risk & Compliance 3 5 years years years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Accounting & Finance 22

23 Salary & Employment Forecast SINGAPORE 2014 ENGINEERING & MANUFACTURING Engineering & Manufacturing

24 ENGINEERING & MANUFACTURING Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (11%) Slightly stronger (16%) Steady (55%) Slightly weaker (16%) 40% 34%? 26% Weaker (2%) Market observations: Current recruitment activity for engineering and manufacturing professionals in Singapore is steady and is expected to remain so over the coming 12 months. The majority of hiring activity is in the areas of oil and gas, chemical, petrochemical, semiconductor and aerospace and is mostly for replacement roles. Some companies have created new roles, particularly in instances where they transfer their manufacturing operations from overseas to Singapore. The areas of engineering, product support and quality control have experienced the strongest hiring activity, as Singapore moves towards a higher technology engineering centre and manufacturing site for high-end products. Multinationals in Singapore are currently transferring new technology and manufacturing to existing sites, creating a demand for highly skilled Design Engineers, Product Support and Process Improvement Specialists to ensure a smooth transition. High-tech industries such as the semiconductor industry will experience increased demand for Electrical Design Engineers for locally established regional design centres. Lower-end manufacturing sites are moving out of Singapore due to the higher costs of manufacturing compared to other regions such as Vietnam, Indonesia, Thailand and China. This is driving a shift towards higher-end manufacturing products in Singapore such as aerospace components, high-end chemicals and oil and gas equipment. Engineering and manufacturing professionals in Singapore with skills in Six Sigma Black Belt and Lean Expert will be in high demand as companies look to increase cost savings and efficiency through the implementation of lean methodologies, as well as Six Sigma. Mechanical and Electrical Engineers, Quality Managers, as well as Application Support and Field Service roles will be the most demanded job types. As companies set up their South East Asia or Asia Pacific regional office in Singapore, there is an increased requirement for regional field service or quality roles based in Singapore. Manufacturing sites in Singapore are also upgrading their machinery and facilities, generating a demand for experienced mechanical engineers. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Engineering & Manufacturing 24

25 ENGINEERING & MANUFACTURING Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 47% Yes, it will cause salaries to rise above the inflation rate (60%) Yes, salaries will increase but only at the rate of inflation (33%) 20% 20% 13% No, the skills shortage will not impact salary levels (7%) Source talent from overseas Need to develop more targeted attraction strategies None It will be difficult to maintain headcount Engineering & Manufacturing 25

26 ENGINEERING & MANUFACTURING Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 7% All my employees will receive the same percentage increase 1% - 5% 6% - 10% 85% 15% 83% All my employees will receive an increase, but it will vary according to performance 8% Only my best-performing employees will receive an increase 2% No one in my team will receive an increase Market observations: Average salaries for engineering and manufacturing professionals in Singapore increased over the last 12 months by between 1% and 10%. Operational Directors, Plant Managers and Engineering Specialists will be awarded above average salary increases due to the limited talent pool available and as employers look to them to drive improvements, processes or build new teams and disciplines. Combination of factors likely to impact salary levels in the next 12 months* 72 % Global economic conditions 54 % 26 % 8 % 5 % Domestic economic conditions Competition with other companies Other (company performance, financial status of company, type and number of projects etc.) Not sure * More than one option could be selected. Engineering & Manufacturing 26

27 ENGINEERING & MANUFACTURING Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 53% 47% 90% 10% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 22% 8 % Company performance 6% - 10% 11% - 15% 31% 6% 22 % 16% - 20% 19% 21% - 30% 15% 31% - 40% 1% Above 40% 6% 70 % Combination individual, team and company performance Engineering & Manufacturing 27

28 ENGINEERING & MANUFACTURING Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 51% 21% $ 28%? 65% 20% 10% 5% Higher salary Broaden experience / opportunity to learn Other (job security, etc.) Promotion Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Recognition and rewards Structured career progression Strong company culture Training and mentoring partnerships Work-life balance initiatives Company branding International opportunities 43% 30% 10% 5% 5% 5% 2% 68% Flexible working arrangements 45% Team building/offsite activities 21% Increased maternity/paternity leave 16% 13% Alternative leave options (e.g. volunteering) Sabbatical leave Market observations: Most engineering and manufacturing professionals in Singapore prefer to receive a mix of financial and non-financial rewards from their employer. 8% Other (no overtime, leave, etc.) * More than one option could be selected. Engineering & Manufacturing 28

29 ENGINEERING & MANUFACTURING Attraction & retention Combination of benefits offered to employees* 76 % 53 % 50 % 37 % 37 % 24 % 16 % 16 % 13 % 13 % 11 % 8 % 5 % Parking Mobile phone Personal laptop Transport allowance Stock options Company car Housing loan Personal loan Medical and dental benefits Other (education sponsor, renovation loans, computer loans, work live leave, company shares, etc.) Education loan Travel pass None Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 5 % 10 % 77 % 5 % 3 % * More than one option could be selected. Engineering & Manufacturing 29

30 ENGINEERING & MANUFACTURING Salary Tables Role Experience Salary SG$ 000 R&D ENGINEERING/R&D Design Engineer 2 5 years Application Engineer 2 5 years Senior Design Engineer 5 10 years Senior Application Engineer 5 10 years Engineering Manager 8+ years Engineering Director 15+ years PRODUCTION/MANUFACTURING ENGINEERING Production Engineer 2 5 years Production Engineering Manager 8+ years QUALITY CONTROL/ASSURANCE Quality Engineer 2 5 years Senior Quality Engineer 5 10 years Quality Manager 10+ years Quality Director 15+ years SALES ENGINEERING Sales Engineer 2 5 years Senior Sales Engineer 5 8 years Sales Engineering Manager 8+ years PROJECT/PROGRAM MANAGEMENT Project Manager 2 5 years Senior Project Manager 5 10 years Project/Program Director 10+ years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Engineering & Manufacturing 30

31 Salary & Employment Forecast SINGAPORE 2014 FINANCial services Financial Services

32 Financial Services Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (14%) Slightly stronger (21%) Steady (45%) Slightly weaker (7%) Weaker (13%) 31% 52%? 17% Market observations: The current strength of hiring activity for financial services professionals in Singapore is steady as banks have faced serious cost pressures and made redundancies across the board and at all levels. With cost and regulatory pressures still in place, the majority of banking employers have indicated they will not expand teams in However, hiring activity is expected to strengthen with any pick-up in economic activity, due to banking teams being fairly lightly staffed and the need to strengthen teams to contend with increased work flow. Hiring activity for financial services professionals in the areas of compliance and risk is strongest as increased global regulatory pressures have meant banks have had to increase the size of their governance teams. As banks and financial institutions remain on cost cutting measures, hiring activity will be largely restricted to roles in highest demand such as Analysts, Associates and AVPs, with few openings for senior roles. Financial services professionals in Singapore with skills in financial modelling are in demand as private equity firms and corporate finance teams require this as a primary skill set. Increased regulatory pressures across private banking and corporate investment banking is creating demand for financial services professionals familiar with anti money laundering and know your customer (KYC) practices. As Japanese banks move their operations to Singapore, financial services professionals with language proficiency in Japanese will be sought-after by these companies. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Financial Services 32

33 Financial Services Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 45% Yes, it will cause salaries to rise above the inflation rate (44%) Yes, salaries will increase but only at the rate of inflation (44%) 22% 22% 11% No, the skills shortage will not impact salary levels (12%) Need to develop more targeted attraction strategies Source talent from overseas None Other (Will not hire unless it is the right candidate) Financial Services 33

34 Financial Services Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 65% All my employees will receive an increase, but it will vary according to performance 26% 1% - 5% 6% - 10% 11% - 15% 71% 23% 6% Only my best performing employees will receive an increase 9% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* 77 % Global economic conditions 58 % 48 % 9 % 9 % 3 % Domestic economic conditions Competition with other companies Other (company performance, growth potential, increase in experience, etc.) Not sure Don t expect any factors to particularly impact salaries Market observations: Average salaries for financial services professionals in Singapore over the last 12 months have remained steady. In 2014, financial services professionals in compliance are likely to be awarded above average increases as companies look to attract and retain talent with these skills as there is a limited supply pool. * More than one option could be selected. Financial Services 34

35 Financial Services Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 55% 45% 94% 6% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Other 1% - 5% 30% 3 % Individual performance 6% - 10% 11% - 15% 10% 20% Team performance 6 % 16% 10 % Company performance 16% - 20% 10% 21% - 30% 17% 31% - 40% 10% Above 40% 3% 65 % Combination of all Financial Services 35

36 Financial Services Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 47% $ 31% 22%? 47% 40% 7% 6% Higher salary Broaden experience / opportunity to learn Promotion Other (combination of the reasons listed) Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 53% Recognition and rewards Structured career progression Strong company culture Company branding Training and mentoring partnerships Work-life balance initiatives 17% 10% 10% 7% 3% 24% 24% 21% 72% Flexible working arrangements Team building/offsite activities Alternative leave options (e.g. volunteering) Sabbatical leave 17% Increased maternity/paternity leave Market observations: Financial services employers are looking at a range of attraction and retention strategies including staggered and flexible shifts in back office roles and offering global mobility to existing employees. The majority of financial services professionals in Singapore would prefer to receive financial rewards from their employer. 13% Other (working from home) * More than one option could be selected. Financial Services 36

37 Financial Services Attraction & retention Combination of benefits offered to employees* 90 % 72 % 41 % 38 % 34 % 14 % 10 % 10 % 7 % 7 % 3 % 3 % Personal laptop Transport allowance Parking Mobile phone Other (optical benefits, travel insurance, meal allowance, flexi benefits and additional leave) Housing loan Stock options Personal loan Education loan Company car None Medical and dental benefits Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 18 % 44 % 25 % 12 % * More than one option could be selected. Financial Services 37

38 Financial Services Salary Tables FINANCE Role Salary SG$ 000 CENTRAL FINANCE Management Reporting/Business Finance Associate Associate Vice President Vice President Director/MD 270+ Costing Controls/Analytics Associate Associate Vice President Vice President Director/MD 270+ Financial Reporting Associate Associate Vice President Vice President Director/MD 270+ Tax Accountant Associate Associate Vice President Vice President Director/MD 300+ VALUATIONS Quantitative Associate Associate Vice President Vice President Director/MD 260+ Price Testing Associate Associate Vice President Vice President Director/MD 260+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 38

39 Financial Services FINANCE Role Salary SG$ 000 FINANCE PROJECTS Business Analyst Associate Associate Vice President Vice President Director/MD 260+ PRODUCT CONTROL Cash Associate Associate Vice President Vice President Director/MD 260+ Equities & Finance Associate Associate Vice President Vice President Director/MD 260+ Commodities & Derivatives Associate Associate Vice President Vice President Director/MD 260+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 39

40 Financial Services AUDIT, COMPLIANCE & RISK Role Salary SG$ 000 AUDIT Internal Audit Associate Associate Vice President Vice President Director/MD 250+ IT Audit Associate Associate Vice President Vice President Director/MD 250+ COMPLIANCE AML (Audit Money Laundering) Associate Associate Vice President Vice President Director/MD 250+ MAS Compliance Associate Associate Vice President Vice President Director/MD 250+ TTM (Transaction Trend Monitoring) Associate Associate Vice President Vice President Director/MD 250+ Front Office Advisory Associate Associate Vice President Vice President Director/MD 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 40

41 Financial Services AUDIT, COMPLIANCE & RISK Role Salary SG$ 000 RISK Market Risk Associate Associate Vice President Vice President Director/MD 250+ Credit Risk Associate Associate Vice President Vice President Director/MD 250+ Operational Risk Associate Associate Vice President Vice President Director/MD 250+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 41

42 Financial Services OPERATIONS Role Salary SG$ 000 OPERATIONS Project Management Associate Associate Vice President Vice President Director/MD 220+ MIDDLE OFFICE Client Servicing Associate Associate Vice President Vice President Director/MD 200+ BACK OFFICE Settlement Associate Associate Vice President Vice President Director/MD 200+ Corporate Actions Associate Associate Vice President Vice President Director/MD 200+ Reconciliation Associate Associate Vice President Vice President Director/MD 200+ Collateral Management Associate Associate Vice President Vice President Director/MD 190+ Fund Administration Associate Associate Vice President Vice President Director/MD 190+ Documentation Associate Associate Vice President Vice President Director/MD 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 42

43 Financial Services FRONT OFFICE Role Salary SG$ 000 INVESTMENT BANKING Debt Capital Markets Associate Associate Vice President Vice President Director/MD 280+ Equity Capital Markets Associate Associate Vice President Vice President Director/MD 280+ Private Equity Associate Associate Vice President Vice President Director/MD 250+ Investment Banking Associate Associate Vice President Vice President Director/MD 280+ CORPORATE /INSTITUTIONAL BANKING Credit Analysis Corporate Bankers Associate Associate Vice President Vice President Director/MD 140+ Transaction Banking Sales Associate Associate Vice President Vice President Director/MD 160+ Transaction Banking Product Management Associate Associate Vice President Vice President Director/MD 150+ Corporate Banking Relationship Manager Associate Associate Vice President Vice President Director/MD 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Financial Services 43

44 Financial Services FRONT OFFICE Role Salary SG$ 000 FUND MANAGEMENT Institutional Sales & Marketing Associate Associate Vice President Vice President Director/MD 170+ Portfolio Managers Associate Associate Vice President Vice President Director/MD 220+ Research Associate Associate Vice President Vice President Director/MD 220+ Financial Services 44

45 Salary & Employment Forecast SINGAPORE 2014 Healthcare & Life Sciences Healthcare & Life Sciences

46 Healthcare & Life Sciences Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (14%) Slightly stronger (14%) Steady (58%) 72% Slightly weaker (14%)? 14% 14% Market observations: Overall hiring activity for healthcare and life sciences professionals in Singapore is currently steady and is expected to remain at this level over the next 12 months. Technical markets are maturing and there is more emphasis on investing in local talent. Companies are also setting up new plants in Singapore and this is expected to create a healthy demand for new roles in the sector in addition to the usual replacement roles caused by natural attrition and turnover. Research & Development (R&D), Quality Assurance and Engineering and Operations are expected to be the strongest areas of hiring activity for healthcare and life sciences professionals, as Singapore differentiates itself as a high quality and high value market with highly skilled employees. Within the healthcare and life sciences sector, professionals with a specialisation in quality assurance or regulatory affairs will be in demand as new plants and corporate offices set up operations in Singapore. An increase in collaborations between government and industry players is leading to the establishment and expansion of plants in Singapore as organisations ramp up their operations, and is creating demand for healthcare and life sciences professionals. Healthcare and life sciences professionals specialising in ISO13485 standards for medical devices, as well as those with expertise in Lean and Six Sigma are in demand. Companies are aware that these specialisations are hard to come by due to the need for upfront investment from employers to train and develop healthcare professionals with these skills. R&D across the medical device and fast-moving consumer goods (FMCG) sectors is picking up in Singapore with new start-ups receiving strong support from the government. This is leading to a demand for skilled R&D professionals, in particular scientific experts in the areas of biology and chemistry. Project and mechanical engineers are also expected to be in demand as engineering and operations remain a core component of manufacturing companies and plants. This will create a constant demand for talented healthcare and life sciences professionals in Singapore. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Healthcare & Life Sciences 46

47 Healthcare & Life Sciences Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months Yes, it will cause salaries to rise above the inflation rate (60%) Yes, salaries will increase but only at the rate of inflation (40%) 60% 20% 20% Need to develop more targeted attraction strategies It will be difficult to maintain headcount Other Healthcare & Life Sciences 47

48 Healthcare & Life Sciences Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months All my employees will receive an increase, but it will vary according to performance 12% 88% 1% - 5% 6% - 10% 11% - 15% 75% 13% 1% Only my best performing employees will receive an increase 16% - 20% 11% Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salaries of healthcare and life sciences professionals in Singapore increased over the last 12 months by 1% to 10%. 88 % 88 % 63 % 13 % Not sure Competition with other companies Domestic economic conditions Global economic conditions Healthcare and life sciences professionals specialising in regulatory affairs, engineering and operations, as well as scientific experts, are expected to be awarded above average salary increases in the coming year. Companies will also award above average salary increase to secure professionals with the ability to drive improvements, processes or build a new team and discipline, given the limited talent pool and competitive market. * More than one option could be selected. Healthcare & Life Sciences 48

49 Healthcare & Life Sciences Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 50% 50% 86% 14% Basis for bonuses over the next 12 months Average percentage bonus of gross salary 17 % Individual performance 33 % Company performance 11% - 15% 16% - 20% 60% 40% 50 % Combination of individual, team and company performance Healthcare & Life Sciences 49

50 Healthcare & Life Sciences Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 72% $ 14% 14%? 40% 40% 20% Higher salary Broaden experience / opportunity to learn Greater training & development Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 43% Company branding Structured career progression Work-life balance initiatives 43% 14% 71% 71% Flexible working arrangements Increased maternity/paternity leave 24% Team building/offsite activities Market observations: International opportunities Some companies have adopted new attraction and retention strategies, such as retention bonuses spread over several years, as well as a lump sum payment after a fixed number of years of employee service. Most healthcare and life sciences professionals in Singapore prefer to receive a mix of financial and non-financial rewards from their employer. 14% 14% Sabbatical leave Alternative leave options (e.g. volunteering) * More than one option could be selected. Healthcare & Life Sciences 50

51 Healthcare & Life Sciences Attraction & retention Combination of benefits offered to employees* 86 % 71 % 57 % 57 % 43 % 14 % 14 % Medical and dental benefits Mobile phone Parking Transport allowance Personal laptop Education loan Stock options Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 1 % 57 % 29 % 12 % * More than one option could be selected. Healthcare & Life Sciences 51

52 Healthcare & Life Sciences Salary Tables CLINICAL RESEARCH Role Drug Safety/Pharmacovigilence Salary SG$ to 5 years to 10 years to 15 years More than 15 years N/A Data Management 3 to 5 years to 10 years N/A 10 to 15 years N/A More than 15 years 150+ Clinical Operations 3 to 5 years to 10 years to 15 years More than 15 years N/A BioStatistician 3 to 5 years to 10 years to 15 years N/A More than 15 years N/A SAS Programmer 3 to 5 years to 10 years to 15 years N/A More than 15 years N/A Medical Affairs 3 to 5 years to 10 years to 15 years More than 15 years 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 52

53 Healthcare & Life Sciences RESEARCH & DEVELOPMENT Role Scientists (non PhDs) Salary SG$ to 5 years to 10 years to 15 years More than 15 years N/A Scientists (PhDs) 3 to 5 years to 10 years to 15 years More than 15 years 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 53

54 Healthcare & Life Sciences OPERATIONS Role Manufacturing Salary SG$ to 5 years to 10 years to 15 years More than 15 years 200+ Process Engineering 3 to 5 years to 10 years to 15 years More than 15 years 180+ Mechanical Engineering 3 to 5 years to 10 years to 15 years More than 15 years 180+ Electrical Engineering 3 to 5 years to 10 years to 15 years More than 15 years 180+ Controls/Automation 3 to 5 years to 10 years to 15 years More than 15 years 180+ EHS 3 to 5 years to 10 years to 15 years More than 15 years 180+ Validation 3 to 5 years to 10 years to 15 years More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 54

55 Healthcare & Life Sciences QUALITY & COMPLIANCE OPERATIONS Role Quality Control Salary SG$ to 5 years to 10 years to 15 years More than 15 years N/A Microbiology 3 to 5 years to 10 years to 15 years More than 15 years N/A Regulatory Affairs 3 to 5 years to 10 years to 15 years More than 15 years 200+ Quality Assurance (GMP) 3 to 5 years to 10 years to 15 years More than 15 years 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 55

56 Healthcare & Life Sciences COMMERCIAL Role Salary SG$ 000 Sales/Medical Representative 3 to 5 years to 10 years to 15 years N/A More than 15 years N/A Product Manager 3 to 5 years to 10 years to 15 years More than 15 years N/A Senior/Group Product Manager 3 to 5 years to 10 years to 15 years More than 15 years N/A Sales Manager 3 to 5 years to 10 years to 15 years More than 15 years N/A Marketing Manager 3 to 5 years to 10 years to 15 years More than 15 years 150+ Sales Director 3 to 5 years to 10 years to 15 years More than 15 years 200+ Marketing Director 3 to 5 years to 10 years to 15 years More than 15 years 220+ General Manager 3 to 5 years to 10 years to 15 years More than 15 years 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Healthcare & Life Sciences 56

57 Salary & Employment Forecast SINGAPORE 2014 Human Resources Human Resources

58 Human Resources Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (19%) Slightly stronger (12%) Steady (65%) Slightly weaker (1%) Weaker (3%) 46% 35%? 19% Market observations: Hiring activity for human resources (HR) professionals in Singapore is currently steady. Companies are starting to place increased value on the HR function as a key business partner that influences critical areas such as staff attraction and retention as well as the Employee Value Proposition. HR professionals with varying skill sets will be needed across companies as they grow and as different focus areas emerge, for example learning and development, talent management and recruitment. Recruitment for HR professionals is expected to be strong in the healthcare industry as the sector continues to experience steady growth given the ageing population and a growing emphasis on wellbeing and longevity. Singapore s strong fast-moving consumer goods (FMCG) and retail industries translate into a steady need for operational HR professionals with strong skills in recruitment and payroll. HR professionals with skills in compensation and benefits are also highly sought-after as companies recognise that this remains the top employee attraction and retention tool and seek to be at the forefront to attract and retain the best talent, especially in the competitive market. A lot of companies remain focused on growing and expanding within the Asia Pacific region and HR professionals with talent acquisition and talent management skill sets will be in demand to help companies ensure the optimal attraction and retention of employees. With the large number of multinational companies having regional headquarters in Singapore, HR professionals with regional experience and familiarity with local labour laws, as well as cultural sensitivities will be required. A keen sense of commercial acumen in HR professionals will also put them in good stead as it enables an appreciation of business operations and the ability to understand and pre-empt human capital issues and potential risks. For manufacturing businesses with a large headcount and a mix of professionals and blue collar workers, a good sized HR team is required, consisting of HR professionals with diverse skill sets including industrial relations and union work. Over the coming 12 months, recruitment activity for HR professionals in Singapore is expected to remain strong. HR Business Partners, talent acquisition and talent management professionals will continue to be in demand in the coming year. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Human Resources 58

59 Human Resources Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 33% 33% Yes, it will cause salaries to rise above the inflation rate (50%) 17% 17% Yes, salaries will increase but only at the rate of inflation (33%) No, the skills shortage will not impact salary levels (17%) Need to develop more targeted attraction strategies None It will be difficult to maintain headcount Source talent from overseas Human Resources 59

60 Human Resources Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 12% All my employees will receive the same percentage increase 1% - 5% 6% - 10% 76% 24% 80% All my employees will receive an increase, but it will vary according to performance 4% Only my best performing employees will receive an increase 4% No one in my team will receive an increase Market observations: Average salaries for HR professionals have increased over the last 12 months, with the average increase between 1% and 10%. HR business partners, specialists in compensation and benefits and talent acquisition and talent management professionals are most likely to be awarded above average salary increases as they remain the most highly sought-after professionals in the HR sector. Combination of factors likely to impact salary levels in the next 12 months* 58 % Global economic conditions 54 % 46 % 12 % 8 % 4 % Domestic economic conditions Competition with other companies Other (Inflation, etc.) Not sure Don t expect any factors to particularly impact salaries * More than one option could be selected. Human Resources 60

61 Human Resources Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 54% 46% 92% 8% Basis for bonuses over the next 12 months Average percentage bonus of gross salary 4 % Individual performance 1% - 5% 6% - 10% 11% - 15% 16% - 20% 5% 22% 42% 22% 96 % Combination of individual, team and company performance 21% - 30% 4% 31 40% 1% Above 40% 4% Human Resources 61

62 Human Resources Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 42%? 35% 23% $ 78% 22% Higher salary Broaden experience / opportunity to learn Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 23% Recognition and rewards Structured career progression Strong company culture Company branding Training and mentoring partnerships Work-life balance initiatives 23% 19% 15% 11% 8% 27% 24% 58% Increased maternity/paternity leave 38% Flexible working arrangements Other (no overtime,holiday incentive, etc.) Team building/offsite activities Market observation: Most HR professionals prefer a mix of financial and non-financial rewards, with workplace flexibility becoming an emerging strategy employers are using for attraction and retention. 15% 12% Sabbatical leave Alternative leave options (e.g. volunteering) * More than one option could be selected. Human Resources 62

63 Human Resources Attraction & retention Combination of benefits offered to employees* 88 % Medical and dental benefits 58 % 46 % 46 % 23 % 19 % 12 % 8 % 8 % 4 % 4 % 4 % Mobile phone Parking Transport allowance Personal laptop Stock options Company car Personal loan Education loan Travel pass Housing loan Other (clothing allowance, flexi benefits and additional leave) Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 12 % 65 % 19 % 3 % * More than one option could be selected. Human Resources 63

64 Human Resources Salary Tables BANKING & FINANCE Role Salary SG$ 000 Payroll Specialist 3 to 5 years to 10 years to 15 years More than 15 years 130+ Mobility Specialist 3 to 5 years to 10 years to 15 years More than 15 years 150+ HRIS Specialist 3 to 5 years to 10 years to 15 years More than 15 years 150+ Learning and Development Specialist 3 to 5 years to 10 years to 15 years More than 15 years 180+ Recruitment Specialist 3 to 5 years to 10 years to 15 years More than 15 years 180+ HR Generalist/Business Partner 3 to 5 years to 10 years to 15 years More than 15 years 220+ Organisational Development 3 to 5 years to 10 years to 15 years More than 15 years 250+ Compensation and Benefits Specialist 3 to 5 years to 10 years to 15 years More than 15 years 250+ Head of Human Resources 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 250+ More than 15 years 300+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Human Resources 64

65 Human Resources Salary Tables COMMERCE & INDUSTRY Role Salary SG$ 000 Payroll Specialist 3 to 5 years to 10 years to 15 years More than 15 years 110+ Mobility Specialist 3 to 5 years to 10 years to 15 years More than 15 years 130+ HRIS Specialist 3 to 5 years to 10 years to 15 years More than 15 years 150+ Learning and Development Specialist 3 to 5 years to 10 years to 15 years More than 15 years 165+ Recruitment Specialist 3 to 5 years to 10 years to 15 years More than 15 years 165+ HR Generalist/Business Partner 3 to 5 years to 10 years to 15 years More than 15 years 190+ Organisational Development 3 to 5 years to 10 years to 15 years More than 15 years 200+ Compensation and Benefits Specialist 3 to 5 years to 10 years to 15 years More than 15 years 250+ Head of Human Resources 10 to 15 years 220+ More than 15 years 260+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Human Resources 65

66 Salary & Employment Forecast SINGAPORE 2014 legal Legal

67 LEGAL Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (6%) Slightly stronger (33%) Steady (61%) 61% 39% Market observations: Recruitment activity for legal professionals in Singapore is currently steady and is expected to remain strong during the next 12 months. Locally listed multinationals house sizeable teams of in-house lawyers to provide legal support on a Group basis due to Singapore being their corporate headquarters. Similarly many foreign multinationals base their regional headquarters in Singapore, which results in the investment of legal teams to render legal support and advice to the region. The Qualifying Foreign Law Practice (QFLP) Scheme an initiative by the Singapore government to develop the legal sector and build its status as a legal hub now allows foreign law firms to practice in permitted areas of Singapore law. This has resulted in increased recruitment activity from QFPL firms looking to recruit locally qualified lawyers. As companies face a myriad of business risks in their quest to maximise profits and performance, legal professionals who provide well-rounded legal support and can achieve a healthy balance between minimising legal risks, while meeting business objectives are well regarded. Locally qualified in-house and corporate commercial lawyers will also be in high demand. Singapore is the Asia Pacific headquarters for many multinationals, (including China). Given that China is a predominant focus of growth, proficiency in Mandarin both spoken and written has become a core competency for many companies when considering law professionals in Singapore. Employers in the Information Technology and Telecommunications (IT&T) industry will have strong demand for legal professionals in Singapore to address business risks and issues created by fast-paced product launches. The huge volume of contracts in the IT&T industry will also add to the need for legal professionals to support the business and management. Consistent recruitment activity for legal professionals working in the oil and gas industry is expected as this area is relatively resistant to economic downturns and companies typically maintain a seasoned legal team due to the complex nature of the industry and heavy regulations. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Legal 67

68 LEGAL Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months Yes, it will cause salaries to rise above the inflation rate (55%) 55% Yes, salaries will increase but only at the rate of inflation (36%) 18% 18% 9% No, the skills shortage will not impact salary levels (9%) Need to develop more targeted attraction strategies It will be difficult to maintain headcount Source talent from overseas None Legal 68

69 LEGAL Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 22% All my employees will receive the same percentage increase 72% 1% - 5% 6% - 10% 11% - 15% 41% 53% 6% All my employees will receive an increase, but it will vary according to performance 6% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salaries legal professionals have increased over the last 12 months by 1% to 10%. Locally qualified legal professionals will be awarded above average salary increases. Corporate commercial lawyers and lawyers with strong proficiency in Mandarin can also expect to receive above average salary increases as they remain the most sought-after legal talent. 53 % Domestic economic conditions 47 % 18 % 12 % 6 % 6 % Global economic conditions Competition with other companies Not sure Other (company performance, individual performance, inflation, etc.) Don t expect any factors to particularly impact salaries * More than one option could be selected. Legal 69

70 LEGAL Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 50% 50% 94% 6% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 13% 6% - 10% 6% Team performance 19 % 11% - 15% 16% - 20% 38% 19% 13 % 6 % Company performance 21% - 30% 19% 31% - 40% 5% 62 % Combination of all Legal 70

71 LEGAL Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 39% 33% 28%? 43% $ 29% 14% 14% Broaden experience / opportunity to learn Higher salary Promotion Achieve better work/life balance Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 33% Structured career progression Work-life balance initiatives Company branding Recognition and rewards Strong company culture International opportunities 22% 17% 11% 11% 6% 17% 61% Flexible working arrangements 33% Increased maternity/paternity leave 28% Team building/offsite activities Other (no overtime,results based rather than time based, etc.) Market observations: 11% Alternative leave options (e.g. volunteering) Law professionals in Singapore generally prefer to receive a mix of financial and non-financial rewards from their employers. Key nonfinancial rewards include work-life balance and flexibility. 6% Sabbatical leave * More than one option could be selected. Legal 71

72 LEGAL Attraction & retention Combination of benefits offered to employees* 78 % 50 % 22 % 17 % 17 % 6 % 6 % 6 % 6 % Medical and dental benefits Mobile phone Personal laptop Parking Transport allowance Company car Travel pass Stock options None Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 11 % 66 % 11 % 11 % * More than one option could be selected. Legal 72

73 LEGAL Salary Tables LAWYERS Role Experience Salary SG$ 000 PRIVATE PRACTICE (LOCAL FIRMS) Newly Qualified - 3 years PQE 3 years years PQE 4-7 years years PQE and above 8 years 180+ PRIVATE PRACTICE (INTERNATIONAL FIRMS) Newly Qualified - 3 years PQE 3 years years PQE 4-7 years years PQE and above 8 years 280+ Please note: The above table includes salary data collected from leading and international law firms. Role Experience Salary SG$ 000 IN-HOUSE CORPORATE (MNC) < 3 years PQE 3 years years PQE 4-7 years years PQE and above 8 years 160+ Please note: The above table includes salary data collected from Singapore private and listed companies, and multinational corporations. Role Experience Salary SG$ 000 FINANCIAL SERVICES < 3 years PQE 3 years years PQE 4-7 years years PQE and above 8 years 180+ Please note: The above table includes salary data collected from international/investment banks, local banks, insurance companies and fund/private equity/security houses. Role Experience Salary SG$ 000 PARALEGALS & LEGAL SECRETARIES Paralegal 3 to 5 years Corporate Secretarial Assistants 3 to 5 years 60+ CORPORATE SECRETARIAT Non ICSA-certified > 5 years 70+ ICSA-certified > 5 years 85+ Please note: The above table includes salary data collected from leading and international law firms. Please note: 1. The above tables are based on basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salaries can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. 3. This is representative of our services within Singapore. 4. The figures in this guide are based around Singapore levels of PQE, with the exception of the international law firms where Singapore lawyers and other lawyers who have not completed their 2 year training contracts are usually required to take a discount on their qualification date. The typical discount is 18months. Legal 73

74 Salary & Employment Forecast SINGAPORE 2014 Procurement & Supply Chain Procurement & Supply Chain

75 Procurement & Supply Chain Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (35%) Slightly stronger (10%) Steady (40%) Slightly weaker (1%) Weaker (14%) 40% 55%? 5% Market observations: Hiring activity for procurement, supply chain and logistics professionals has been strong in the last 12 months and is expected to remain strong in the coming year. Attractive tax rates and incentives awarded by the Economic Development Board of Singapore will see Singapore remain an attractive location to set up regional headquarters for companies. As a result, manufacturing output for organisations will remain stable and resilient. The low level of unemployment in Singapore has led to a shortage of talented professionals required by multinationals as they look to establish their regional hub in the city. Regional positions with a permanent base in Singapore will be created by companies establishing local regional hubs. Supply Chain Solution Specialists and Stanford Certified Project Managers (SCPM) will also be valued by third party logistics (3PL) organisations as they help provide unique selling propositions, such as cost cutting and operational delivery to their clients. The demand for niche skill sets, such as category management, business process improvement and production planning will also be on the rise as companies expand their businesses and upskill the local talent. Attrition and movement among procurement and supply chain professionals is expected to increase recruitment activity in the first quarter of 2014, following the December annual wage supplement (AWS) and variable bonus payments. Hiring activity for sales and procurement professionals is expected to be strongest within the pharmaceutical, chemical and fast moving consumer goods (FMCG) industries as they expand or set up regional hubs in Singapore. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Procurement & Supply Chain 75

76 Procurement & Supply Chain Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 37% Yes, it will cause salaries to rise above the inflation rate (38%) 25% 25% 13% Yes, salaries will increase but only at the rate of inflation (50%) No, the skills shortage will not impact salary levels (12%) None Source talent from overseas Need to develop more targeted attraction strategies Other Procurement & Supply Chain 76

77 Procurement & Supply Chain Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 10% All my employees will receive the same percentage increase 85% 1% - 5% 6% - 10% 11% - 15% 65% 30% 5% All my employees will receive an increase, but it will vary according to performance 5% Only my best performing employees will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: Average salary increases for procurement, supply chain and logistics professionals have remained constant over the last 12 months. 60 % 60 % 45 % 20 % Domestic economic conditions Competition with other companies Global economic conditions Other (growth potential, company financial performance, etc.) Procurement, supply chain and logistics management professionals with niche skill sets or experience can expect to receive above average salary increments as employers look to attract and retain top talent during prolonged periods of regional expansion. The pharmaceutical and oil and gas industries are expected to award higher than average increases to procurement, supply chain and logistics professionals as they are in strong growth positions and require professionals with niche skills and experience that are key to strengthening their business. * More than one option could be selected. Procurement & Supply Chain 77

78 Procurement & Supply Chain Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 55% 45% 95% 5% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 5% 6% - 10% 36% 32 % Company performance 11% - 15% 16% - 20% 41% 1% 21 % 21% - 30% 5% 31% - 40% 1% Above 40% 11% 47 % Combination of individual, team and company performance Procurement & Supply Chain 78

79 Procurement & Supply Chain Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 75% $ 20% 5%? 60% 20% 13% 7% Higher salary Broaden experience /opportunity to learn Achieve better work/life balance Promotion Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Structured career progression Strong company culture Work-life balance initiatives Company branding Recognition and rewards 35% 30% 15% 15% 5% 70% Flexible working arrangements 40% Team building/offsite activities 20% Alternative leave options (e.g. volunteering) 15% Increased maternity/paternity leave Market observations: 15% Other (no overtime, holiday incentive, etc.) Most procurement, supply chain and logistics professionals prefer to receive financial incentives from their employer such as sign-on and annual bonuses. 10% Sabbatical leave * More than one option could be selected. Procurement & Supply Chain 79

80 Procurement & Supply Chain Attraction & retention Combination of benefits offered to employees* 85 % 80 % 75 % Medical and dental benefits Transport allowance Mobile phone 50 % 50 % 40 % 15 % 10 % 5 % 5 % 5 % Parking Personal laptop Company car Education loan Personal loan Stock options None Other (additional leave) Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 19 % 75 % 4 % 1 % * More than one option could be selected. Procurement & Supply Chain 80

81 Procurement & Supply Chain Salary Tables OIL & GAS/PHARMACEUTICALS Role Salary SG$ 000 Supply Chain 3 to 5 years to 10 years to 15 years Quality 3 to 5 years to 10 years to 15 years Distribution/Warehousing 3 to 5 years to 10 years to 15 years Logistics/3PL 3 to 5 years to 10 years to 15 years Direct 3 to 5 years to 10 years to 15 years Quality 3 to 5 years to 10 years to 15 years Planning 3 to 5 years to 10 years to 15 years Indirect 3 to 5 years to 10 years to 15 years LEAN/Six Sigma 3 to 5 years to 10 years to 15 years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Procurement & Supply Chain 81

82 Procurement & Supply Chain FMCG RETAIL Role Salary SG$ 000 Direct 3 to 5 years to 10 years to 15 years Logistics/3PL 3 to 5 years to 10 years to 15 years Supply Chain 3 to 5 years to 10 years to 15 years Distribution/Warehousing 3 to 5 years to 10 years to 15 years Planning 3 to 5 years to 10 years to 15 years Indirect 3 to 5 years to 10 years to 15 years LEAN/Six Sigma 3 to 5 years to 10 years to 15 years Procurement & Supply Chain 82

83 Procurement & Supply Chain TECHNOLOGY Role Salary SG$ 000 Direct 3 to 5 years to 10 years to 15 years Logistics/3PL 3 to 5 years to 10 years to 15 years Supply Chain 3 to 5 years to 10 years to 15 years Distribution/Warehousing 3 to 5 years to 10 years to 15 years Planning 3 to 5 years to 10 years to 15 years Indirect 3 to 5 years to 10 years to 15 years LEAN/Six Sigma 3 to 5 years to 10 years to 15 years FINANCIAL SERVICES Role Salary SG$ 000 Procurement/Strategic Sourcing 3 to 5 years to 10 years to 15 years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Procurement & Supply Chain 83

84 Salary & Employment Forecast SINGAPORE 2014 Property & Construction Property & Construction

85 Property & Construction Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (16%) Slightly stronger (32%) Steady (47%) Slightly weaker (4%) Weaker (1%) 63%? 32% 5% Market observations: Hiring activity for property and construction professionals in Singapore in the last 12 months was relatively weak, however recruitment is expected to pick up and remain steady in Investment and project decisions that were delayed during Q will take form in 2014, creating demand for professionals across property and construction. Companies that had hiring freezes for non-essential roles are expected to begin hiring now that recruitment budgets and plans for 2014 have been set. Property professionals specialising in real estate expansion and landlord leasing are currently the most sought-after in the industry. These professionals are helping to strengthen retail landlords internal leasing capability as competition for space throughout Singapore remains high. Specialist knowledge in leasing management will be sought-after by both landlords and tenants as they seek to ensure their portfolios of leases work as efficiently as possible through effective lease management. Strong consumer demand across retail, food and beverage (F&B) and hospitality markets is impacting the demand for property professionals as these businesses require professionals with a strong real estate owner network and knowledge in order to expand regionally. Real estate expansion by consumer driven industries such as retail, F&B and niche sectors such as education services is creating demand for property professionals with these specialisations. Although project led initiatives have been delayed, businesses in property and construction still see the need to manage existing assets. Additionally, demand exists within service provider organisations due to the outsourcing of contracts. Continued demand for professionals with expertise in facilities management services will be expected due to the continual outsourcing of facilities services and the growth of owned or leased portfolios. The resumption of projects that were delayed in the last 12 months will translate into a spike in demand for project management as these projects are awarded. This is causing a ripple effect and creating increased demand for quantity surveyors and construction professionals with expertise in engineering and design services. A shortage of property and construction professionals with project management capabilities in Singapore and across the region will be more pronounced as companies roll out their project pipelines. Knowledge of claims and contract management among construction professionals will be highly regarded as businesses seek to protect and safeguard themselves against contractual and claims issues, both internally and externally. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Property & Construction 85

86 Property & Construction Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 50% Yes, it will cause salaries to rise above the inflation rate (42%) Yes, salaries will increase but only at the rate of inflation (50%) 33% 17% No, the skills shortage will not impact salary levels (8%) Source talent from overseas Need to develop more targeted attraction strategies It will be difficult to maintain headcount Property & Construction 86

87 Property & Construction Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 5% All my employees will receive the same percentage increase 63% All my employees will receive an increase, but it will vary according to performance 1% - 5% 6% - 10% 11% - 15% Market observations: 44% 39% 17% 26% Only my best-performing employees will receive an increase 6% No one in my team will receive an increase The average salary of property and construction professionals has remained steady over the last 12 months. Property and construction professionals with skills in project management, contracts and claims, as well as brokerage can expect to receive above average salary increases from their employers as competition for talent will increase in the coming year. Combination of factors likely to impact salary levels in the next 12 months* 50 % Domestic economic conditions 50 % 33 % Competition with other companies Global economic conditions 11 % 6 % Not sure Don't expect any factors to particularly impact salaries * More than one option could be selected. Property & Construction 87

88 Property & Construction Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 53% 47% 95% 5% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 6% - 10% 17% 44% Team performance 22 % Company performance 11% - 15% 27% 16% - 20% 6% 21% - 30% 6% 11 % 17 % 50 % Combination of all Property & Construction 88

89 Property & Construction Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 63% 32%? 5% $ 50% 34% 8% 8% Higher salary Broaden experience / opportunity to learn Achieve better work-life balance Overseas opportunities Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* 37% Structured career progression Strong company culture Company branding Recognition and rewards 26% 26% 11% 21% 42% Flexible working arrangements 42% Team building/offsite activities Increased maternity/paternity leave 16% Sabbatical leave Market observations: The early announcement of bonuses is encouraging professionals to stay in their role to receive their bonus rather than move on. Fiscal penalties have also been introduced by companies for employees leaving within the first one to two years. Most property and construction professionals prefer to receive financial rewards from their employer. 10% 11% Alternative leave options (e.g. volunteering) Other (no overtime, holiday incentive, etc.) * More than one option could be selected. Property & Construction 89

90 Property & Construction Attraction & retention Combination of benefits offered to employees* 89 % 73 % 58 % 58 % Medical and dental benefits Mobile phone Personal laptop Transport allowance 42 % 26 % 16 % 16 % 5 % 5 % 5 % Parking Stock options Company car Personal loan Housing loan Education loan Travel pass Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 5 % 11 % 26 % 53 % 5 % * More than one option could be selected. Property & Construction 90

91 Property & Construction Salary Tables CORPORATE REAL ESTATE Role Salary SG$ 000 Environment Health & Safety 3 to 5 years to 10 years to 15 years More than 15 years 130+ Facilities Management & Corporate Services 3 to 5 years to 10 years to 15 years More than 15 years 140+ Property Management 3 to 5 years to 10 years to 15 years More than 15 years 130+ Security & BCP 3 to 5 years to 10 years to 15 years More than 15 years 180+ Leasing & Transaction Management 3 to 5 years to 10 years to 15 years More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Property & Construction 91

92 Property & Construction PROJECTS Role Salary SG$ 000 Design Management 3 to 5 years to 10 years to 15 years More than 15 years 120+ Office Fit-Out 3 to 5 years to 10 years to 15 years More than 15 years 140+ Construction & Project Management 3 to 5 years to 10 years to 15 years More than 15 years 150+ Project Development 3 to 5 years to 10 years to 15 years More than 15 years 170+ REAL ESTATE INVESTMENTS Role Salary SG$ 000 Asset Management Analyst Associate Vice Presidents SVP/Director 180+ Portfolio Management Analyst Associate Vice Presidents SVP/Director 160+ Investment Management Analyst Associate Vice Presidents SVP/Director 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Property & Construction 92

93 Salary & Employment Forecast SINGAPORE 2014 SALES & MARKETING Sales & Marketing

94 Sales & MARKETING Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (7%) Slightly stronger (24%) Steady (56%) 55% Slightly weaker (3%) Weaker (10%) 41%? 4% Market observations: Current hiring activity for sales and marketing professionals in Singapore is steady and will continue to remain so over the coming 12 months. Skill shortages, high turnover and the sourcing of local talent remain key challenges for employers. Internal promotion, internal transfer or employee referrals are expected to counter these difficulties. The Ministry of Manpower quota mandated by the Singapore government continues to result in a high turnover of sales and marketing professionals. Some companies are facing the challenge of sourcing local talent who are not affected by the rule. Industrial manufacturing performed well in the second half of 2013 and is set to remain strong in the next 12 months, as manufacturers sell to the oil and gas and construction markets. Multinationals looking to open or expand their Asian hubs will also contribute to creating demand for sales and marketing professionals. The services and technology sectors are experiencing strong hiring activity for sales and marketing professionals as Singapore remains an attractive regional hub for both areas. Roles in highest demand include Head of Social Media as companies increasingly place more emphasis on social media and its growing importance in the marketing and communications strategy. A presence on social media is instrumental for brand awareness and equity, increasing revenue, and for recruiting new customers or employees. As organisations in Singapore mature, there will be a demand for Business Development Managers to help grow, manage and consolidate the business. Country Managers and General Managers will also be in demand as employers look to the local talent pool to replace expats. Strong competition between companies at local and regional levels will increase the shortage of skilled local talent among sales and marketing professionals and create the need for strong business development profiles. Localisation for foreign companies with a local presence will also create opportunities for sales and marketing professionals as they look for local talent to replace their expat headcount to help manage costs. The fast maturing electronic and digital presence in companies marketing strategies will create high demand for sales and marketing professionals with structured and specific skill sets such as online customer relationship management (CRM), ecommerce and loyalty programs. In addition to business development, sales and marketing professionals with skills in corporate communications, public relations and investor relations will be in demand as companies place increased emphasis on managing their reputation. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Sales & Marketing 94

95 Sales & MARKETING Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 50% Yes, it will cause salaries to rise above the inflation rate (38%) Yes, salaries will increase but only at the rate of inflation (44%) 25% 19% 6% No, the skills shortage will not impact salary levels (18%) Need to develop more targeted attraction strategies Source talent from overseas It will be difficult to maintain headcount None Sales & Marketing 95

96 Sales & MARKETING Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 10% All my employees will receive the same percentage increase 77% 1% - 5% 6% - 10% 11% - 15% 52% 28% 20% All my employees will receive an increase, but it will vary according to performance 10% Only my best performing employees will receive an increase 3% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salaries of sales and marketing professionals in Singapore increased between 1% and 10% in the last 12 months. 66 % 48 % 41 % Competition with other companies Domestic economic conditions Global economic conditions The strong demand for sales and marketing professionals with skills in ecommerce, corporate communications and business development will see this group of professionals awarded with above average salary increases over the coming year. 7 % 3 % 3 % Not sure Other (company performance, etc.) Don't expect any factors to impact salaries * More than one option could be selected. Sales & Marketing 96

97 Sales & MARKETING Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 90% 10% 87% 13% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Individual performance 1% - 5% 23% Team performance 15 % 6% - 10% 11% - 15% 39% 19% Company performance 16% - 20% 19% 12 % 27 % 46 % Combination of all Sales & Marketing 97

98 Sales & MARKETING Attraction & retention Employer expectations for staff turnover in the next 12 months Key reasons employees are likely to leave 59% 31%? 10% $ 53% 17% 12% 6% 6% 6% Higher salary Achieve better work-life balance Broaden experience / opportunity to learn Promotion Other (better job stability, etc.) Overseas opportunities Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Recognition and rewards Structured career progression Strong company culture Company branding Training and mentoring partnerships International opportunities Work-life balance initiatives 39% 21% 14% 10% 10% 3% 3% 55% Flexible working arrangements 52% Team building/offsite activities 28% Increased maternity/paternity leave 17% Alternative leave options (e.g. volunteering) 10% Sabbatical leave Market observations: Employers in Singapore looking to attract local sales and marketing professionals are starting to look at alternative hiring strategies such as social media and online talent management portals. Majority of the sales and marketing professionals in Singapore prefer to receive financial rewards from their employer. 7% Other (job rotation,holiday incentive, etc.) * More than one option could be selected. Sales & Marketing 98

99 Sales & MARKETING Attraction & retention Combination of benefits offered to employees* 83 % 69 % 66 % Medical and dental benefits Mobile phone Transport allowance 24 % 21 % 17 % 7 % 4 % 3 % 3 % Parking Personal laptop Company car Stock options Other (accomodation, etc.) Travel pass Housing loan Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 28 % 41 % 17 % 13 % * More than one option could be selected. Sales & Marketing 99

100 Sales & MARKETING Salary Tables Healthcare & LifescienceS Role Salary SG$ 000 Product Manager 3 to 5 years to 10 years to 15 years N/A More than 15 years N/A Group Product Manager 3 to 5 years to 10 years to 15 years 150+ More than 15 years N/A Communications Manager 3 to 5 years to 10 years to 15 years More than 15 years 200+ Marketing Manager 3 to 5 years to 10 years to 15 years More than 15 years 200+ Sales Manager 3 to 5 years to 10 years to 15 years 150+ More than 15 years N/A Business Unit Manager 3 to 5 years to 10 years to 15 years N/A More than 15 years N/A Business Development Manager / Director 3 to 5 years to 10 years to 15 years 150+ More than 15 years N/A Sales Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years 200+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 100

101 Sales & MARKETING Healthcare & LifescienceS Role Salary SG$ 000 Marketing Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years 220+ Business Unit Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years 300+ Manufacturing & Industrial Role Salary SG$ 000 Sales Engineer 3 to 5 years to 10 years N/A 10 to 15 years N/A More than 15 years N/A Senior Sales Engineer 3 to 5 years to 10 years N/A 10 to 15 years N/A More than 15 years N/A Marketing/Marcom/Public Relations Executive 3 to 5 years to 10 years N/A 10 to 15 years N/A More than 15 years N/A Account Manager 3 to 5 years to 10 years to 15 years N/A More than 15 years N/A Key Account Manager 3 to 5 years to 10 years to 15 years N/A More than 15 years N/A Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 101

102 Sales & MARKETING Manufacturing & Industrial Role Salary SG$ 000 Sales Executive 3 to 5 years to 10 years N/A 10 to 15 years N/A More than 15 years N/A Sales Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Marketing Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Product Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Marketing Communications Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Business Development Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Senior Marketing Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 102

103 Sales & MARKETING Manufacturing & Industrial Role Salary SG$ 000 Sales Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years Marketing Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years Managing Director/General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years Banking & Financial Services Role Salary SG$ 000 Public Relations / Corporate Communications Manager 3 to 5 years to 10 years to 15 years More than 15 years N/A AVP / Marketing Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years N/A VP / Senior Marketing Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years 130+ Digital / ecommerce Marketing Manager 3 to 5 years to 10 years to 15 years More than 15 years 150+ Corporate Communications Director 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 103

104 Sales & MARKETING Banking & Financial Services Role Salary SG$ 000 Marketing Director 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years 200+ FMCG & Consumer Products Role Salary SG$ 000 Sales / Key Account Manager 3 to 5 years to 10 years to 15 years More than 15 years 130+ Trade Marketing Manager 3 to 5 years to 10 years to 15 years More than 15 years 130+ Brand Manager / Product Manager 3 to 5 years to 10 years to 15 years More than 15 years N/A PR Manager 3 to 5 years to 10 years to 15 years More than 15 years 130+ Marketing Communications Manager 3 to 5 years to 10 years to 15 years More than 15 years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 104

105 Sales & MARKETING FMCG & Consumer Products Role Salary SG$ 000 Sales Manager 3 to 5 years to 10 years to 15 years More than 15 years 130+ Sales Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years 250+ Digital / ecommerce Marketing Manager 3 to 5 years to 10 years to 15 years More than 15 years 130+ Senior Brand Manager 3 to 5 years to 10 years to 15 years More than 15 years 130+ Marketing Manager 3 to 5 years to 10 years to 15 years 140+ More than 15 years N/A Senior Marketing Manager 3 to 5 years N/A 5 to 10 years to 15 years 140+ More than 15 years N/A Marketing Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 140+ More than 15 years N/A Managing Director/General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 200+ More than 15 years 250+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 105

106 Sales & MARKETING IT& Telco Role Salary SG$ 000 Marketing/Marcom/Public Relations Executive 3 to 5 years to 10 years N/A 10 to 15 years N/A More than 15 years N/A Sales Executive 3 to 5 years to 10 years N/A 10 to 15 years N/A More than 15 years N/A Marketing Communications Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Brand Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years PR Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Product Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Account Manager 3 to 5 years to 10 years to 15 years More than 15 years Marketing Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 106

107 Sales & MARKETING IT& Telco Role Salary SG$ 000 Key Account Manager 3 to 5 years to 10 years to 15 years More than 15 years Business Development Manager 3 to 5 years to 10 years to 15 years More than 15 years Sales Manager 3 to 5 years to 10 years to 15 years More than 15 years Senior Marketing Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Marketing Director 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years Sales Director 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years Managing Director/General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years More than 15 years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 107

108 Sales & MARKETING Retail Role Salary SG$ 000 Regional Retail Operations Manager 3 to 5 years N/A 5 to 10 years to 15 years 130+ More than 15 years N/A Country General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 180+ More than 15 years 200+ Regional General Manager 3 to 5 years N/A 5 to 10 years N/A 10 to 15 years 200+ More than 15 years N/A Professional Services Role Salary SG$ 000 Digital / Social Media Manager 3 to 5 years to 10 years to 15 years More than 15 years N/A Research /Insights Manager 3 to 5 years to 10 years to 15 years More than 15 years N/A Marketing Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years N/A Public Relations / Media Communications Manager 3 to 5 years to 10 years to 15 years More than 15 years 150+ Business Development Manager / Account Manager 3 to 5 years to 10 years to 15 years More than 15 years N/A Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 108

109 Sales & MARKETING Professional Services Role Salary SG$ 000 Sales Manager 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years 180+ Business Development Director /Sales Director 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years 200+ Marketing Director 3 to 5 years N/A 5 to 10 years to 15 years More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Sales & Marketing 109

110 Salary & Employment Forecast SINGAPORE 2014 technology Technology

111 Technology Market Analysis Recruitment Activity Strength of current hiring activity compared to the last 12 months Expectation of a professional skills shortage in the next 12 months Stronger (14%) Slightly stronger (7%) Steady (61%) Slightly weaker (18%) 53% 43%? 4% Market observations: Currently, hiring activity of technology professionals in Singapore is steady and is expected to remain steady over the next 12 months as there is some caution among employers around increasing headcount for technology professionals. There is a stable demand for technology talent in Singapore as Asia continues to be a region for growth for most organisations. Hiring activity is strongest for IT Managers and professionals with experience in infrastructure operations as companies set up their regional headquarters based in Singapore. Roles such as Service Delivery Managers and Infrastructure Engineers are in demand to support expanding business infrastructure in the region. Java and.net Developers will continue to be in demand as they are key to the delivery of software development projects. With the increasing prominence in cloud computing and big data, more companies are embracing cloud technology and increasing investment in big data. As a result, the demand for candidates with experience in virtualisation, cloud, business intelligence and overall IT security continues to grow. As companies look at increasing revenue and customer acquisition, implementation professionals with skills in ERP,CRM and business infrastructure will be sought-after to manage these growing needs. Growing and maturing businesses rolling out new systems will create opportunities for technology professionals with skills in change management to train and ensure proper implementation that will drive continuous growth and business improvements. Note: All infographics in this report are based on the views of survey participants. The accompanying market commentary is based on the experience and observations of the Michael Page team. Technology 111

112 Technology Recruitment Activity Skills shortage placing upwards pressure on salaries Impact of skills shortage on business in Singapore over the next 12 months 40% Yes, it will cause salaries to rise above the inflation rate (34%) Yes, salaries will increase but only at the rate of inflation (33%) No, the skills shortage will not impact salary levels (33%) Need to develop more targeted attraction strategies 27% Source talent from overseas 20% It will be difficult to maintain headcount 13% None Technology 112

113 Technology Salary & remuneration Salary increases over the next 12 months Average percentage salary increases over the next 12 months 17% All my employees will receive the same percentage increase 67% 1% - 5% 6% - 10% 11% - 15% 75% 18% 7% All my employees will receive an increase, but it will vary according to performance 10% Only my best performing employees will receive an increase 6% No one in my team will receive an increase Combination of factors likely to impact salary levels in the next 12 months* Market observations: The average salary of technology professionals in Singapore has increased in the last 12 months by 1% to 10%. 45 % 41 % 34 % 17 % 14 % Competition with other companies Global economic conditions Domestic economic conditions Not sure Other (company performance, etc.) Project Managers, Business Analysts and Developers will be awarded above average salary increases as companies compete to attract and retain this group of highly sought-after professionals. Technology professionals with skills specialising in ERP, CRM, business infrastructure and change management are likely to be offered competitive wage increases as they continue to be in demand and are limited. 3 % Don t expect any factors to particularly impact salaries * More than one option could be selected. Technology 113

114 Technology Salary & remuneration Flexible salary packaging or fringe benefits offered to employees Companies providing bonus as part of the remuneration package 73% 27% 97% 3% Basis for bonuses over the next 12 months Average percentage bonus of gross salary Company performance Individual performance 1% - 5% 25% 11 % 14 % 6% - 10% 39% 11% - 15% 21% 16% - 20% 11% 21% - 30% 4% 75 % Combination of individual, team and company performance Technology 114

115 Technology Attraction & retention Employer expectations for staff turnover in the next 12 months 59% Key reasons employees are likely to leave $ 28% 13%? 52% 18% 12% 12% 6% Higher salary Promotion Broaden experience / opportunity to learn Achieve better work-life balance Other (company relocation, company culture, job security, etc.) Most popular tools for attraction and retention Most popular options offered to support employees work-life balance* Recognition and rewards Company branding Structured career progression Work-life balance initiatives International opportunities Training and mentoring partnerships Strong company culture 26% 21% 18% 14% 7% 7% 7% 79% Flexible working arrangements 52% Team building/offsite activities 29% Increased maternity/paternity leave 25% Sabbatical leave 14% Alternative leave options (e.g. volunteering) 7% Other (school program, home care leave, etc.) * More than one option could be selected. Technology 115

116 Technology Attraction & retention Combination of benefits offered to employees* 68 % 64 % 39 % 39 % 25 % Medical and dental benefits Mobile phone Personal laptop Transport allowance Stock options Market observations: Most technology professionals in Singapore prefer a mix of financial and non-financial rewards. Employers in Singapore are starting to improve their attraction and retention strategies for technology professionals as the demand for them continues to grow. This includes providing project completion bonuses and introducing workplace flexibility, among other strategies. Employers are also increasingly seeking to recruit locals and females to their IT teams as they look to add diversity in their organisation. 21 % 11 % 11 % 11 % 7 % 7 % Parking Company car Education loan None Other (accommodation, etc.) Travel pass Working hours Average weekly working hours Less than 37.5 hours hours hours hours 50 hours or more 1 % 10 % 64 % 23 % 2 % * More than one option could be selected. Technology 116

117 Technology Salary Tables FINANCIAL SERVICES DEVELOPMENT, DESIGN & ARCHITECTURE Role Salary SG$ 000 Analyst Programmer 3 to 5 years to 10 years to 15 years Lead Analyst Programmer 5 to 10 years to 15 years Architect Applications, Solutions, Systems, Data 5 to 10 years to 15 years Enterprise Architect 5 to 10 years to 15 years More than 15 years 180+ Application Development Manager 5 to 10 years to 15 years More than 15 years 170+ TESTING Role Salary SG$ 000 Test Analyst 3 to 5 years to 10 years to 15 years Team Lead - Testing 5 to 10 years to 15 years More than 15 years 110+ Test Manager 5 to 10 years to 15 years More than 15 years 130+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 117

118 Technology DATABASE MANAGEMENT Role Salary SG$ 000 Database Administrator 3 to 5 years to 10 years to 15 years Senior Database Administrator/Data Analyst 5 to 10 years to 15 years More than 15 years 100+ Data Warehousing/Modelling Specialist 3 to 5 years to 10 years to 15 years Data Architect 5 to 10 years to 15 years More than 15 years INFRASTRUCTURE/NETWORK Role Salary SG$ 000 Network Support 1st/2nd Level 3 to 5 years to 10 years Security Analyst/Consultant 3 to 5 years to 10 years to 15 years More than 15 years 120+ Network Engineer 3 to 5 years to 10 years to 15 years More than 15 years 120+ Network Architect 5 to 10 years to 15 years More than 15 years 150+ Security Manager 5 to 10 years to 15 years More than 15 years 140+ Infrastructure Manager 5 to 10 years to 15 years More than 15 years 150+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 118

119 Technology PROJECT & GENERAL MANAGEMENT Role Salary SG$ 000 Project Co-ordinator 3 to 5 years to 10 years to 15 years More than 15 years 120+ Project Manager 3 to 5 years to 10 years to 15 years More than 15 years 180+ Project Director 10 to 15 years More than 15 years Business Analyst 3 to 5 years to 10 years to 15 years Senior Business Analyst 5 to 10 years to 15 years More than 15 years 150+ IT Manager 5 to 10 years to 15 years More than 15 years 180+ IT Director More than 15 years Chief Information Officer More than 15 years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 119

120 Technology SUPPORT/ADMINISTRATION Role Salary SG$ 000 1st Level Helpdesk Analyst 3 to 5 years to 10 years nd Level Desktop Support Analyst 3 to 5 years to 10 years to 15 years rd Level Support Analyst 5 to 10 years to 15 years More than 15 years Unix Administrator 3 to 5 years to 10 years to 15 years Helpdesk Manager 5 to 10 years to 15 years Service Centre Manager 10 to 15 years More than 15 years 180+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 120

121 Technology COMMERCE DEVELOPMENT, DESIGN & ARCHITECTURE Role Salary SG$ 000 Analyst Programmer 3 to 5 years to 10 years Lead Analyst Programmer 5 to 10 years to 15 years Architect Applications, Solutions, Systems, Data 5 to 10 years More than 10 years Enterprise Architect 5 to 10 years to 15 years Application Development Manager 5 to 10 years to 15 years TESTING Role Salary SG$ 000 Test Analyst 3 to 5 years to 10 years Team Lead - Testing 5 to 10 years to 15 years More than 15 years 110+ Test Manager 10 to 15 years More than 15 years 130+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 121

122 Technology DATABASE MANAGEMENT Role Salary SG$ 000 Database Administrator 3 to 5 years to 10 years Senior Database Administrator/Data Analyst 5 to 10 years to 15 years Data Warehousing/Modelling Specialist 5 to 10 years to 15 years Data Architect 5 to 10 years to 15 years INFRASTRUCTURE/NETWORK Role Salary SG$ 000 Network Support 1st/2nd Level 3 to 5 years to 10 years Security Analyst/Consultant 3 to 5 years to 10 years to 15 years Network Engineer 3 to 5 years to 10 years to 15 years Network Architect 5 to 10 years to 15 years More than 15 years 150+ Security Manager 5 to 10 years to 15 years More than 15 years 140+ Infrastructure Manager 5 to 10 years to 15 years More than 15 years 140+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 122

123 Technology PROJECT & GENERAL MANAGEMENT Role Salary SG$ 000 Project Co-ordinator 3 to 5 years to 10 years Project Manager 3 to 5 years to 10 years to 15 years More than 15 years 150+ Project Director 10 to 15 years More than 15 years Business Analyst 3 to 5 years to 10 years to 15 years 100+ Senior Business Analyst 5 to 10 years to 15 years More than 15 years 130+ IT Manager 5 to 10 years to 15 years More than 15 years 150+ IT Director More than 15 years Chief Information Officer More than 15 years Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 123

124 Technology SUPPORT/ADMINISTRATION Role Salary SG$ 000 1st Level Helpdesk Analyst 3 to 5 years to 10 years nd Level Desktop Support Analyst 3 to 5 years to 10 years rd Level Support Analyst 5 to 10 years to 15 years Unix Administrator 3 to 5 years to 10 years Helpdesk Manager 5 to 10 years to 15 years Service Centre Manager 10 to 15 years More than 15 years 160+ Please note: 1. Salaries indicated are based on an annual basic salary, excluding bonus/incentive schemes. 2. Market rates are becoming much less uniform. While we have taken great care, these salary ranges can only be approximate guides, as there are often specific circumstances relating to individual companies. Please call us for additional information. Technology 124

125 contact us Singapore One Raffles Place Office Tower 2 #09-61 Singapore Tel Fax [email protected]