2012 Singapore Salary Guide
Looking towards the New Year, some recruit consultant agencies have announced their research findings on salaries in Singapore.
I found the "Singapore Employment Outlook and Salary Guide 2011/12" by Kelly Services quite comprehensive and good as a resource. Let me present the main findings of this salary guide.
As Singapore GDP for 2011 is forecast to grow 5-7% this year, the employment market here still seems to be on rise. In particular, high demand is expected for the Information Technology, Engineering, Healthcare and Life Sciences, Banking and Finance sectors.
Accounting & Finance
There will be continued demand for mid-level positions, such as Senior Accountant and Finance Manager. For example, the average monthly salary for the Finance Manager position with 6-8 years' experience is in the S$6K-S$12.5K range. Financial Accountants with 3-5 years' experience will command salaries of S$5K–S$7.5K.
Banking & Finance
The survey of the past 12 months shows that there is slight ongoing pressure on salaries in this sector. There is obvious growth in the junior and middle management level positions, with the "war for talent" resulting in the offer of special bonuses for top performers. Personal Financial Consultants/Personal Bankers with 2-3 years' experience are expected to obtain S$2.2K–S$3.2K salary. For the Manager's position, the salary range for those with 5-8 years' experience is S$6K–S$12K.
The demand for call centre and helpdesk employees will remain high. Employers regard them as not only providing a one-stop service to current customers, but also paying the dual role of a telemarketer selling products or services. Although many organizations have relocated their call centres to countries such as Malaysia, Philippines and India for cost efficiencies, Singapore still has an edge as it is able to provide a pool of multi-lingual and native foreign speakers. For local Customer Service operators, the salary range is between S$2K–S$2.7K. The salary for native Japanese speakers is higher -- between S$3K–S$4K.
Engineering & Technical
The Construction industry has seen high growth due to soaring property prices throughout 2011. The Sales Engineer position with 3-5 years' experience is in the range of S$3K–S$5K.
You may want to refer to the original resource for the salaries of the other industries – Healthcare & Life Sciences, Human Resources, Information Technology, Office Support, Procurement & Logistics and Sales. It would be useful for you to take this guide into consideration for your company's strategy in 2012.