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Salary Guide 2020
Download Singapore Salary Guide 2020
The Michael Page Salary Benchmark is our annual salary guide developed as a reference for hiring managers and job seekers to make informed employment decisions in Singapore. The guide benchmarks the salaries of various job functions across different sectors, including Finance & Accounting, Technology, as well as Sales and Marketing. Leveraging data from Michael Page’s proprietary data and network, the guide provides precious insights to hiring trends and market sentiments in the Asia-Pacific region.
Furthermore, an additional section, titled “What is the Singapore workforce thinking”, will delve into the specifics of what Millennials and Generation X are thinking with regard to work, including topics like:
Average salary increase when changing jobs*
|Chemical & Engineering||10 - 15|
|Fast Moving Consumer Goods (FMCG)||10 - 15|
|Financial Services & Fintech||10 - 15|
|Healthcare & Life Sciences||7 - 9|
|Retail||6 - 10|
|Technology, Media & Telecommunications||12-15|
|Contracting||8 - 10|
* Data is derived from July 2018 to June 2019, and is validated against insights from our leaders’ and consultants’ interactions with clients and candidates.
How can the report benefit you?
- Understand factors that attract and retain talent
- Project reasonable talent cost based on hiring forecast
- Discover top reasons for resignation
- Find out potential roles to upskill for
- Cite informed salary expectations when switching jobs
- Discover trending skills for your job function
Singapore Salary Benchmark 2020: Singapore invests in planning and partnership
As we enter a brand new decade, it’s exciting to be presenting another Salary Benchmark for Singapore. This time around we have continued to refine and enhance the look and feel of the report. Aside from our trademark look at indicative salary levels by industry and discipline, we’ve this year taken a dive into the important world of EX, or the Employee Experience.
At the talent end of the market that PageGroup operates in, we continually remind our hiring partners that in areas of hot demand, it is still very much a candidate’s market where hiring is concerned. Many businesses are wisely facing market pressures head on, by investing in crucial skillsets – bringing into their team those who can boost sales, drive digital transformation process, leverage key value data, or sure up their cybersecurity.
Asked what these profiles look for aside from salary, we underline key areas. It’s key to articulate the company’s values, and where they fit into that story. Having a sense of their development plan, and their exposure to tools and problem solving will be key. And then be ready to move when you’re certain – those who can get to a yes with certainty will often win the race for top talent.
Of course, the best way to hire is always to retain and develop your core team and remain mission-focused. We speak a lot of the importance of a fair and positive culture, and frequently notice the impact that inspiring and empathetic managers have. If times are less certain, good leaders do help you lean towards staying put.
While the macroeconomic outlook is less certain, we retain a cautiously optimistic view for talent, buoyed by a stable outlook, a dynamic region, and the emphasis on forward planning and partnership that stretches into further areas of added value for industry. While spending may be more cautious for a while, there are positive signs in the services sector and business development roles. Plus Singapore is constantly honing its value proposition as a base for regional and global services: and a perfect high-tech, high-end manufacturing hub.