Morgan McKinley Singapore Salary Survey 2012
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Morgan McKinley Singapore Salary Survey 2012

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2012 Salary Survey for Singapore with information on salaries in financial services and within commerce and industry

2012 Salary Survey for Singapore with information on salaries in financial services and within commerce and industry

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Morgan McKinley Singapore Salary Survey 2012 Morgan McKinley Singapore Salary Survey 2012 Presentation Transcript

  • CONTENTS.CLICK ON THE HYPERLINKS TO GO TO PAGEMANAGING DIRECTOR’S LETTER 2 COMMERCE & INDUSTRY 14 ACCOUNTING & FINANCE 15FINANCIAL SERVICES 3 INFORMATION TECHNOLOGY 17 ACCOUNTING & FINANCE 4 LEGAL & COMPLIANCE 18 BANKING OPERATIONS 6 SALES & MARKETING 19 CHANGE & PROJECT MANAGEMENT 8 INFORMATION TECHNOLOGY 9 UNDERSTANDING THIS GUIDE 22 LEGAL & COMPLIANCE 10 PRIVATE BANKING & WEALTH MANAGEMENT 11 TALK TO US 23 RISK MANAGEMENT 12 1
  • professionals in the financial services sector became less willing to move as the risks outweighed the positives. Employers too held off on ‘key’ hiresMANAGING preferring to watch and wait into the new year, and the words ‘hiring freeze’ were fairly constant in Q4.DIRECTOR’S Now, in Q1 2012 Singapore is predicting far slower growth than the 4.8% experienced in 2011. We Welcome toLETTER. Morgan McKinley’s have seen an effect on salary inflation and, in general the view of an uplift of 10-15% is more Singapore Salary realistic for those who are considering a career Guide 2012 move. The Singapore jobs market experienced Commerce & industry businesses on the other hand considerable change, challenges and, in some saw fairly consistent growth throughout 2011. industry sectors positive growth during 2011. Overall employees’ basic pay and total However, the majority of the year will be compensation has been reflective of inflation. Areas remembered for the uncertainty in the financial such as accounting and finance, HR, technology services sector as a result of the European and and in particular sales and marketing, experienced a sovereign debt issues which took effect from the continued appetite to hire throughout end of Q2 onwards. This has affected overall 2011. Specifically strong investment hiring has been compensation packages moving into 2012 with a felt within the oil and gas, technology and media conservative approach towards pay rises and sectors as more companies looked to position restricted approach to bonuses being the overall themselves as a hub in Singapore. Digital consensus from most large institutions. professionals have also been in high demand, as organisations realise the value of digital marketing Singapore had experienced a record GDP growth in to their business. 2010 with the year on year ending at 14.5%. The expectations moving into 2011 were high off the Overall due to overseas market conditions deeply back of this and the feeling was that the ‘credit affecting the financial services market, moderation crisis’ had been averted; certainly moving through in growth is forecast across all commercial sectors Q1 and into Q2 of 2011, Singapore saw growth and with manufacturing for example set to grow by 3.4% considerable recruitment activity. In the in 2012. infrastructure and controlling areas of most banks This guide is part of our ongoing commitment to and financial institutions, firms continued to recruit keep you up to date with hiring market patterns and and made investment hires with a fairly quick turn remuneration trends. We hope you find it around in the interview process. informative. Sectors such as accounting and finance, Finally, we would like to thank you for your operations, and in particular risk, legal and continued support and wish you all the best for the compliance remained ‘hot’ areas, but as the global remainder of 2012. economy moved into the second phase of the crisis(sovereign debt) , most financial institutions Chris Jay became very conscious of hiring during challenging Managing Director | Singapore circumstances, and trading volumes similarly T: +65 6557 4661 slowed considerably. Q3 and Q4 in 2011 showed E: cjay@morganmckinley.com.sg significant volatility in the market and therefore, 2
  • FINANCIAL SERVICES. 3 View slide
  • FINANCIAL SERVICES.ACCOUNTING & FINANCEThe accounting and finance market was and trading volumes significantly softened, management reporting professionalsfairly mixed in terms of hiring activity in employers hiring in this space became seems to be particularly noteworthy, and2011. The early part of the year saw both considerable selective. In some cases the most financial institutions are being highlyinvestment hiring and the normal turnover large investment banks started to make selective in terms of relevance ofof employees post bonus season. redundancies across finance in product experience.Professionals were also willing to move control, financial control and projects.firms to make good gains in their annual Certainly, banking experience is still a mustbasic pay. The general feeling across the market in H2 in this area, and employers are expecting 2012 is that bonus rounds are likely to be professionals to be in good supply. IfHowever, moving into H2 2011, as the minimal or in some cases none for the year, investment banks continue to makeimpact of the sovereign debt crisis and and pay will most likely be frozen. Demand redundancies this year, it’s likely we willissues in Europe became of high concern, for commodities, product controllers and see fairly long and thorough interview processes throughout the year. BASIC SALARIES (PER ANNUM) Analyst / Associate / VP / SVP / Director /Permanent role: Non-Officer AVP / Manager Senior Manager Director Senior DirectorFinancial Accounting $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330kManagement Accounting $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330kSystems / Project Accounting $40k - $75k $75k - $130k $145k - $220k $220k - $250k $240k - $350kFund / Trust Accounting $40k - $75k $75k - $130k $145k - $220k $180k - $220k $220k - $350kProduct Control $50k - $80k $90k - $145k $150k - $200k $220k - $250k $250k - $400kInternal Audit $40k - $75k $75k - $130k $145k - $220k $220k - $250k $250k - $380kTax Advisory / Compliance $40k - $80k $80k - $140k $145k - $220k $220k- $250k $250k - $350kBusiness Analyst $40k - $80k $80k - $140k $150k - $220k $220k - $250k $250k - $380kTreasury $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330kTechnical Accounting $50k - $80k $90k - $145k $150k - $200k $220k - $250k $250k - $400k 4 View slide
  • FINANCIAL SERVICES.ACCOUNTING & FINANCE BASIC SALARIES (PER ANNUM)Contract role: Analyst AVP VP DirectorFINANCIAL CONTROLFinancial Reporting $45k - $80k $90k - $120k $150k - $220k $220kRegulatory Reporting $50k - $85k $95k - $130k $150k - $200k $200kMANAGEMENT REPORTINGStrategy Planning & Analysis $50k - $85k $90k - $120k $150k - $200k $200kRevenue & Cost Reporting $60k - $90k $90k - $130k $160k - $200k $200kMIS Reporting $60k - $90k $90k - $130k $160k - $200k $200kPRODUCT CONTROLProduct Control $45k - $90k $90k - $120k $150k - $220k $220k 5
  • FINANCIAL SERVICES.BANKING OPERATIONSThe first half of 2011 saw steady hiring with Looking forward, 2012 looks uncertain with Offshoring from Japan and Australia willan increase in projects and operational risk banks remaining cautious and continuing occur in functions but this will be offset byroles as banks put migration and cost cutting measures. Offshoring to lower shared service plans. Commodities is aautomation plans in place to cut costs. In cost countries will continue, resulting in market set to grow but with lack of externalmany cases, contracting provided a retrenchment. experience in this product and internalsolution to headcount restraints. However, mobility drives, banks will be under Internal mobility will remain a strong focusthe second half of the year saw recruitment pressure to use existing talent and provide to cut costs, combat attrition and solveactivity slow and the last quarter saw record training as a solution. Bonuses will be low headcount reductions in some teams.lows in hiring across this space due to and salary uplifts will be minimal unlessglobal uncertainty coupled with natural employees are being promoted.cyclical slowdown. BASIC SALARIES (PER ANNUM)Role: Analyst / Associate / VP / SVP / Director /EQUITY, CREDIT, RATES, FX / MM Non-Officer AVP / Manager Sr. Manager Director Sr. DirectorSettlements $40k - $65k $65k - $130k $140k - $180k $180k - $200k $200k+Client Services $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+Documentation $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+Trade Support $60k - $80k $80k - $130k $140k - $180k $180k - $220k $220k+Business Analyst / Projects $60k - $85k $85k - $130k $140k - $180k $180k - $220k $220k+DERIVATIVESSettlements $40k - $65k $70k - $130k $140k - $180k $180k - $200k $200k+Client Services $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+Documentation $50k - $75k $80k - $130k $140k - $180k $180k - $220k $220k+Trade Support $60k - $80k $80k - $130k $140k - $180k $180k - $220k $220k+Business Analyst / Projects $60k - $85k $85k - $130k $140k - $180k $180k - $220k $220k+ 6
  • FINANCIAL SERVICES.BANKING OPERATIONS BASIC SALARIES (PER ANNUM)Role: Analyst / Associate / VP / SVP / Director /OTHER Non-Officer AVP / Manager Sr. Manager Director Sr. DirectorLoans Administration $40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+Static Data Analyst $40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+Asset Servicing (Corporate Actions & $40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+Dividends)Control / Reconciliations $40k - $60k $70k - $120k $130k - $180k $180k - $220k $220k+ 7
  • FINANCIAL SERVICES.CHANGE & PROJECT MANAGEMENTChange & project management has been a There have been challenges too, with continue to dominate in 2012 and thetalking point in the hiring market for the various projects being cut short or even loss demand for qualified and certifiedmajority of 2011 in Singapore with some of entire funding due to the economic professionals will increase. Six Sigma is aexciting movement and transformation in climate. As a result many teams have been popular methodology that banks arethe financial services industry. In line with restructured, not just at the analyst level, but adopting and we have seen rising demandmatters of cost saving, reduction and spend, also at the director level. for such professionals, both on a contractchange & project management is heavily and permanent basis. Salaries are Significant projects of transformation,relied on to implement these initiatives. competitive with banks paying a premium to migration, onshoring and offshoring will get suitable professionals onboard. BASIC SALARIES (PER ANNUM)Role: 3-5 years 5-7 years 8-10 years 10+ yearsProject Manager $40k - $60k $70k - $100k $120k - $200k $200kBusiness Analyst $60k - $90k $90k - $120k $120k - $200k $200kChange Manager $60k - $90k $80k - $100k $120k - $200k $200kProgramme Manager - - - $200k - $400kProgramme Director - - - $200k - $400k 8
  • FINANCIAL SERVICES.INFORMATION TECHNOLOGYIT recruitment in Singapore’s financial Increasingly, IT professionals need to be offshoring to countries such as Malaysiaservices sector has remained more aligned and integrated with business and the Philippines.comparatively strong despite economic decisions, which has created demand for After witnessing salary increases of aroundturbulence. Recent trends include a healthy professionals who have good domain 6% going into 2011, increases will be moredemand for IT trading support knowledge, leadership skills and above all conservative in 2012 in view of furtherprofessionals. This is due in part to a new good communication skills. Cost economic uncertainty. However hiringwave of trading houses setting up, and a awareness has made way for continued levels are expected to remain sturdy ingrowing emphasis on front office functions offshoring of more technically ‘hands on’ response to restructuring and new start-in Singapore for global banks, where functions to lower cost countries. India has ups.historically these banks have focused these dominated here over recent years, howeverfunctions for APAC in Hong Kong. a shift in cost benefits is seeing a rise in BASIC SALARIES (PER ANNUM) Analyst / Associate / VP / SVP / Director /Role: Non-Officer AVP / Manager Sr. Manager Director Sr. DirectorProgrammer / Software Engineer / Developer $60k - $85k $85k - $120k $120k - $180k $180k - $280k $260k+Business Analyst $60k - $90k $90k - $120k $120k - $180k $180k - $300k $270k+Level 1 / 2 Technical Support $35k - $80k $80k - $110k $110k - $160k $160k - $250k $240k+Level 3 Technical Support $60k - $90k $90k - $120k $120k - $180k $180k - $270k $265k+Application Support (BO/MO) $70k - $95k $95k - $140k $140k - $180k $180k - $280k $280k+Trader Support (FO) $75k - $110k $110k - $150k $150k - $220k $220k - $325k $300k+IT Security and Audit $48k - $75k $75k - $120k $120k - $160k $160k - $250k $250k+QA and Testing $45k - $72k $72k - $120k $120k - $150k $150k - $220k -Database Administrators / Datawarehousing Consultant $48k - $90k $90k - $140k $140k - $200k $200k - $280k $260k+Service Delivery / Program Manager - $100k - $130k $130k - $200k $200k - $290k $280k+ 9
  • FINANCIAL SERVICES.LEGAL & COMPLIANCEDue to current market conditions, total match those paid in 2011. There will be This is less likely in the case of legal rolescompensation levels are likely to be affected notable exceptions: demand for compliance as demand for both transactional and ISDAfor both legal and compliance roles within professionals continues to be steady with lawyers is more dictated by the volume ofthe financial services industry. However, the implementation of several new trading, which is unlikely to be as high asalthough anecdotally bonus components are regulations this year. Organisations may last year.going to be most affected, basic salary have to pay a premium to attractexpectations are, in the main, predicted to exceptional talent in the market. BASIC SALARIES (PER ANNUM)Role: Analyst / Associate / VP / SVP / Director /COMPLIANCE Non-Officer AVP / Manager Sr. Manager Director Sr. DirectorMonitoring/ Surveillance $30k - $60k $60k - $125k $120k - $160k $140k - $200k $200k+AML $35k - $60k $60k - $140k $120k - $180k $170k - $250k $250k+KYC $40k - $60k $55k - $70k $70k - $120k $100k - $200k $180k+Investigations - $60k - $120k $120k - $180k $180k - $250k $240k+Control Room / Research $40k - $65k $65k - $160k $130k - $200k $180k - $300k $300k+Compliance Advisory $60k - $90k $80k - $170k $150k - $210k $180k - $280k $280k+LEGALInternational Law Firm $40k - $60k $60k - $110k $110k - $170k $170k - $220k $220k+Local Law Firm $45k - $70k $70k - $140k $140k - $220k $220k - $280k $280k+Corporate Secretary $45k - $90k $75k - $140k $120k - $200k $200k - $300k $300k+In-House Counsel $50k - $90k $80k - $150k $120k - $210k $180k - $280k $280k+Documentation Lawyer $50k - $100k $90k - $170k $150k - $250k $240k - $350k $350k+ 10
  • FINANCIAL SERVICES.PRIVATE BANKING & WEALTH MANAGEMENTIn the first two quarters of 2011 the private decline and certainly this saw an effect on A shortage of professionals with desiredbanking and wealth management sectors in the recruitment drives of most banks in the expertise continues to be a theme movingSingapore remained robust with consistent wealth management sector. into 2012, but good professionals with ahiring at all levels. All the major players in strong book and whom clients are willing to The need for relationship managers with athis area continued to have aggressive move with are difficult to find. sizeable book is now a consistent theme,growth plans, leveraging off Asia’s strong with the majority of all the private banks In general, most salaries have remainedeconomic growth, and the increased wealth expanding in this area preferring the comfort fairly constant. Even though the sovereignof the Asian community. of an established private banker; rather than debt crisis has slowed down hiring,However, the sovereign wealth crisis and an experienced banker with no wealth guaranteed bonuses for exceptionalissues in Europe of the second half of the management familiarity or limited contacts individuals in this fee-generating space areyear resulted in overall trading volumes to of high net worth individuals. still being offered. BASIC SALARIES (PER ANNUM)Role: Associate / VP / Director / Analyst / SVP / AVP / Senior SeniorPRIVATE BANKING Non-Officer Director Manager Manager DirectorWealth Manager / Relationship Manager/ $50k - $80k $80k - $145k $120k - $180k $200k - $280k $250k - $450kPrivate BankerInvestment Advisors / Consultants $50k - $70k $80k - $130k $120k - $160k $160k - $260k $200k - $400kMarketing (Wealth Management) $40k - $70k $80k - $120k $120k- $140k $160k - $240k $180k - $300kCONSUMER BANKINGWealth Manager / Relationship Manager / $75k - $84k $85k - $115k $120k - $180KPrivate BankerInvestment Advisor / Consultant $65k - $72k $75k -$100k $110k - $180kMarketing (Wealth Management) $60k - $72k $85k - $100k $100k - $160k 11
  • FINANCIAL SERVICES.RISK MANAGEMENTAs with most of the financial services Whilst hiring activity in 2012 may not be as In addition, qualified internationalsector, recruitment in risk management in buoyant as the last two years, the prediction jobseekers are continuously looking for2011 was a result of staff movement rather for this year is a more fluid hiring market Singapore-based roles and this trend isthan growth. than the second half of 2011. There are expected to be the same as 2011. already signs of growth in the SingaporeThe first half of the year saw significant Salaries are expected to be the same as market, especially in quantitative finance.growth however there was minimal hiring in previous years. The key areas of hiring will be roles thatthe second half. Most of the financial involve risk methodologies, counterpartyinstitutions minimised opportunistic risk and commodities in 2012.recruitment in 2011. BASIC SALARIES (PER ANNUM) Analyst / Associate / VP / SVP / Director /Role: Non-Officer AVP / Manager Sr. Manager Director Sr. DirectorQuantitative Analysis $72k - $100k $90k - $150k $130k - $230k $220k - $280k $250k+Credit Risk Analysis $55k - $90k $72k - $130k $120k - $210k $180k - $250k $240k+Market Risk Management $60k - $90k $75k - $140k $130k - $230k $200k - $260k $240k+Market Risk Reporting $55k - $90k $72k - $130k $120k - $210k $180k - $250k $240k+Traded Credit $60k - $90k $75k - $140k $130k - $230k $200k - $260k $240k+ 12
  • INTERNAL MOBILITYWILL REMAIN A STRONGFOCUS TO CUT COSTS,COMBAT ATTRITION ANDSOLVE HEADCOUNTREDUCTIONS IN SOMETEAMS. 13
  • COMMERCE & INDUSTRY. 14
  • COMMERCE & INDUSTRY.ACCOUNTING & FINANCEThe uncertainty in European and American Sourcing finance talent in the current step up significantly in job moves and alsomarkets has had an immediate effect in market can prove challenging. The employers generally look for those whoSingapore and other Asian markets. While continued global instability causes some have previous experience in a similarwe are still experiencing some growth in professionals to hold back from actively industry.accounting & finance, there is increased searching for new roles. On the other hand, Good opportunities are still available butpressure on multinational companies to senior management retain staff who are professionals need to think carefully aboutprovide higher profitability in this region. delivering in their responsibilities and the long term potential of the role.This has created a very risk averse jobs contributing to the business.market where even senior vacancies are On the whole, compensation has remained The cautious approach we experienced lastnot being filled and are instead covered similar to 2011 with many examples of year while recruiting strategic professionalsinternally for cost saving reasons. reduced base salaries and increased has continued. There is little opportunity to variable components. BASIC SALARIES (PER ANNUM) Senior SeniorRole: Accountant Manager Accountant ManagerInternal Audit $30k - $50k $45k - $75k $70k - $120k $120k - $150kFinancial Accounting $40k - $60k $55k - $85k $80k - $130k $130k - $200kManagement Accounting $40k - $60k $55k - $85k $80k - $130k $130k - $200kBusiness Analyst $45k - $65k $60k - $90k $85k - $135k $135k - $190kSystems / Project Accounting $45k - $65k $60k - $90k $85k - $135k $135k - $210kTax Advisory / Compliance $45k - $65k $60k - $90k $85k - $135k $135k - $210kFinancial Control $55k - $75k $70k - $100k $95k - $145k $145k - $220kTreasury $40k - $60k $55k - $85k $80k - $130k $150k - $205kCorporate Development / Strategy - - - $150k - $250k 15
  • COMMERCE & INDUSTRY.ACCOUNTING & FINANCE BASIC SALARIES (PER ANNUM)Role: Director / CFOLARGE SCALE BUSINESSInternal Audit $300k - $500kTax Advisory / Compliance $350k - $550kTreasury $350k - $550kStrategy & Accounting $500k - $700kMEDIUM SCALE BUSINESSInternal Audit $180k - $280kTax Advisory / Compliance $180k - $280kTreasury $200k - $300kStrategy & Accounting $250k - $450k 16
  • COMMERCE & INDUSTRY.INFORMATION TECHNOLOGYSingapore remains an attractive regional become more financially efficient has also Although there is lack of visibility regardinghub for many of the world’s leading been a major driver for investment in new financial markets going into 2012, thetechnology organisations and continues to technologies in the short and medium term. general outlook is positive. We anticipatelead the way in new innovation, research continued growth in the ‘cloud’ There has been strong demand for goodand development. technologies, digital media and social mid to senior level professionals with media. Demand for strong ERP consultantsHiring activity in the end space environment experience in project management, will continue to be high as well as posthas been strong over the last year. enterprise / data / applications and sales integration positions.Confidence to invest in upgrading or solutions architecture, and specialist ERPimplementing new technologies has been skills and IT governance. The number of Salaries remained steady in 2011 althoughbuoyed by improved trading conditions in available sales and pre-sales roles has also employers have had to stretch budgets for2011. The need for organisations to been buoyant and senior IT leadership niche positions. It is not expected that there positions have seen a steady increase. will be a huge jump in salaries in 2012. BASIC SALARIES (PER ANNUM) Role: Non-Officer Manager Senior Manager Director Senior Director Systems Support $36k - $60k $60k - $90k $90k - $130k $130k - $160k $180k+ Programmer $40k - $80k $80k - $120k $120k - $180k $180k - $230k - Database Administration $50k - $80k $80k - $120k $120k - $150k $150k - $200k - QA & Testing $50k - $80k $80k - $100k $100k - $140k $140k - $180k - Marketing $60k - $90k $90k - $120k $120k - $160k $160k - $220k $220k+ IT Security and Audit $60k - $90k $90k - $150k $150k - $180k $180k - $250k $250k+ ERP $40k - $100k $100k - $150k $150k - $200k $200k - $280k - Business Analyst $50k - $100k $100k - $150k $150k - $200k $200k - $280k $280k+ Sales $50k - $100k $100k - $180k $180k - $250k $250k - $325k $325k+ Pre-sales $50k - $100k $100k - $150k $150k - $200k $200k - $250k $250k+ Project Manager $72k - $100k $100k - $150k $150k - $200k - - 17 IT Head - $120k - $180k $180k - $220k $220k - $300k $300k+
  • COMMERCE & INDUSTRY.LEGAL & COMPLIANCERecruitment activity in both the legal and pharmaceutical and telecommunications It is expected that overall levels ofcompliance job markets was vibrant in saw higher levels of hiring activity. recruitment will come down from 2012,2011. As more businesses expanded their although where vacancies do exist, Likewise, there was a higher than usualoperations in APAC, and Singapore professionals can expect a reasonable demand for stand alone compliancecontinued to be seen as their regional hub, increase in salary, encouraging them to professionals as multinational companiesthe demand for experienced lawyers grew. move in this uncertain economic condition. were faced with new and heightenedThis was uniform across the market but regulation, such as the Anti-bribery Act.industry sectors such as oil & gas, shipping, BASIC SALARIES (PER ANNUM)Role: Analyst / Associate / VP / SVP / Director /COMPLIANCE Non-Officer AVP / Manager Sr. Manager Director Sr. DirectorKYC $40k - $60k $55k - $70k $70k - $120k $100k - $200k $180k+Monitoring/ Surveillance $30k - $60k $60k - $125k $120k - $160k $140k - $200k $200k+Investigations - $60k - $120k $120k - $180k $180k - $250k $240k+AML $35k - $60k $60k - $140k $120k - $180k $170k - $250k $250k+Control Room / Research $40k - $65k $65k - $160k $130k - $200k $180k - $300k $300k+Compliance Advisory $60k - $90k $80k - $170k $150k - $210k $180k - $280k $280k+LEGALInternational Law Firm $40k - $60k $60k - $110k $110k - $170k $170k - $220k $220k+Local Law Firm $45k - $70k $70k - $140k $140k - $220k $220k - $280k $280k+Corporate Secretary $45k - $90k $75k - $140k $120k - $200k $200k - $300k $300k+In-House Counsel $50k - $90k $80k - $150k $120k - $210k $180k - $280k $280k+Documentation Lawyer $50k - $100k $90k - $170k $150k - $250k $240k - $350k $350k+ 18
  • COMMERCE & INDUSTRY.SALES & MARKETINGHiring within sales & marketing has remainedparticularly buoyant in 2011 as a number of BASIC SALARIES (PER ANNUM)organisations looked to add to their sales and Role:marketing teams. ADVERTISING AGENCYDespite a predicted slowdown in the Singapore jobs ACCOUNT MANAGEMENTmarket, employers continue to search for talent and Regional Account Director (10+ years) $145k - $250kprofessionals with specific skills in this sector such ascreativity and product knowledge. Group Account Director (9+ years) $120k - $200k Senior Account Director (8+ years) $100k - $120KSalaries have increased for sales positions; forexample hospitality is a sector that is currently thriving. Account Director (7+ years) $70k - $110kHowever whereas certain roles are set to remain Associate Account Director (6+ years) $60k - $72kstable in terms of base remuneration, increased Account Manager (4+ years) $48k - $65kemphasis has been placed on performance based Account Executive (1+ years) $30k - $38kincentives and commission schemes.There has been increased demand for corporatecommunications talent to improve brand reputation PLANNINGand strengthen relationships with audiences through Regional / Global Head Planning Director (15+ years) $200k - $380kprint, online and social media channels. Employers will Senior Planner (5+ years) $100k - $150kbe offering competitive salaries to attract and retainstaff, given ongoing skills shortages in the sales andmarketing sectors. PUBLIC RELATIONS PR AGENCYOn average, companies are offering salary increasesof up to 15-20% to secure new talent. Managing Director / General Manager (18+ years) $250k - $300k Practice Head (15+ years) $145k - $220k Account Director (10+ years) $90k - $160k Account Manager (5+ years) $65k - $90k 19
  • COMMERCE & INDUSTRY.SALES & MARKETING (CONT.)For professionals with skills in higher demand, such ase-commerce and online communications, higher BASIC SALARIES (PER ANNUM)increases may be offered. Role:Throughout 2011, there was a steady rise in the PUBLIC RELATIONS (CONT.)demand for digital marketing skills. In fact this has IN-HOUSEbeen the major growth area as organisations realise Regional Director, Corporate Communications (15+ years) $240k - $320kthe value of digital marketing to their business. Director, Corporate Communications (12+ years) $150k - $180kThe trend has been for the creation of roles to Public Relations Manager (7+ years) $84k - $130kcomplement traditional marketing and the ongoing shift Marketing Communications Director (10+ years) $120k - $180kfrom agency to in-house. While digital marketing will Marketing Communications Manager (7+ years) $84k - $130knot completely overtake its traditional counterpart,growth in this area will still be significant, particularly Events Manager (5+ years) $50k - $90kas Singapore remains the digital media hub of Asia. HOSPITALITY Director of Sales & Marketing (10+ years) $120k - $180k Director of Sales (8+ years) $100k - $150k Senior Sales Manager (5+ years) $60k - $95k Sales / Marketing Manager (3+ years) $40k - $62k EVENT MANAGEMENT Events Director (8+ years) $72k - $132k Senior Events Manager (5+ years) $57k - $80k Events Manager (3+ years) $36k - $58k Events Executive (1+ years) $22k - $36k 20
  • DESPITE A PREDICTEDSLOWDOWN IN THESINGAPORE JOBSMARKET, EMPLOYERSCONTINUE TO SEARCHFOR TALENT ANDPROFESSIONALS WITHSPECIFIC SKILLS. 21
  • SALARY GUIDE | SINGAPORE 2012.UNDERSTANDING THIS GUIDEMETHODOLOGY:The salary information provided in this guide has Salaries listed cover basic salaries only and do notbeen compiled by dedicated researchers across include bonus payments or benefits. This is due toall of Morgan McKinley’s Financial Services and the variety of ways in which employers manageCommerce & Industry divisions in Singapore. Our employee pay and reward.researchers are in continual contact with bothemployers and professionals within these Please note, the information presented in thismarkets in Singapore. document should be used as a general guide only. Where number of years’ experience is mentioned, itSTRUCTURE OF SALARY TABLES: is only to give an approximate framework in which to gauge what a typical professional is likely to earnWe acknowledge that different financial with the level of experience shown.institutions and commercial businesses havevarying corporate structures. For ease of use, this In order to match professionals to the right careerdocument includes corporate titles typically used opportunity for them, Morgan McKinley assessesin financial services and commercial individuals on all their skills and abilities whenorganisations. deciding on their suitability for roles with our clients.SALARY DATA: FURTHER INFORMATION:The salary ranges in this guide are indications ofwhat individuals with similar experience might For more specific salary or hiring information, pleaseexpect to earn in new roles in 2012. This salary visit www.morganmckinley.com.sg or contact yourdata is based on placements made during the Morgan McKinley consultant directly.last six months, as well as the specialistknowledge of Morgan McKinley’s consultants. © 2012 Morgan McKinley Group Ltd all rights reserved. Copy or reproductionVisit www.morganmckinley.com.sg for more information of this material is strictly prohibited. 22
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