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Despite the continuously evolving Singapore market, the overall level of activity in the local hiring market has been fairly static.
According to the latest salary guide released by Morgan McKinley, while the overall salaries have not changed dramatically, there are a few areas with particularly high demand such as in the digital, healthcare and private banking sectors.
“Any headline figure on salary growth is rather misleading in the current economic climate,” commented Andrew Evans, COO Morgan McKinley South Asia.
“Jobseekers at early or mid-career level are strongly advised to think more in terms of career progression.
“It’s also worth noting that the contracting market is seeing more and more traction as employers (and job seekers) appreciate the benefits of flexible working,” he added.
Permanent roles with the highest salaries (per annum in SGD) in Singapore:
Regional chief human resources officer (15 years+ experience): $315k+
Regional head of compensation & benefits (15 years+ experience): $235k+
Head of shared services (10-15 years experience): $120k – $180k
Country HR director (10-15 years experience): $125k – $175k
Banking & financial services
Director/senior director of technical accounting: $250k – $400k
SVP/director of fund/trust accounting: $200k – 260k
Front office – investment banking /M&A /equity capital markets MD (upper brand): $750k
Front office – investment banking /M&A /equity capital markets MD (lower brand): $500k
Finance & accounting
CFO/ VP finance (15 years+ experience): $330k – $500k+
Finance Director (15 years+ experience): $240k – $350k
CFO/ VP finance (11-15 years experience): $280k – $350k+
Finance Director (11-15 years experience): $200k – $260k
Head of application support (FO) (Senior director / MD ): $350k – $500k
Program manager (Senior director / MD ): $350k – $500k
Head of infrastructure (Senior director / MD ): $390k – $450k
Head of development (Senior director / MD ): $350k – $450k
Senior director / MD of aplication support vendor management:$300k – $450k
Sales & marketing
Regional head of marketing – executive director (20+ years) in banking & financial services (marketing): $350k – $600k
Digital marketing director (> 15 years) in banking & financial services (digital marketing): $250k – $350k
Head of strategy /panning (15+ years) in an advertising agency: $200k – $380k
General manager/ associate director/ managing director/ senior director (10+ years) in retail & consumer sales: $180k – $350k +
Supply chain management & procurement
Logistics director (15 years+ experience): $180k – $250k
Supply chain director (15 years+ experience): $200k – $240k
Planning & S&OP director (11-15 years experience): $190k – $230k
Supply chain director (11-15 years experience): $180k – $220k
Senior programme manager: $180k – $300k
Programme manager: $150k – $250k
Senior project manager: $130k – $200k
Change manager: $100k – $180k
In-house financial services general counsel: $320k – $450k+
In-house financial services senior counsel (10 years+ experience): $220k – 380k
Director/senior director of control room / research: $300k+
Director/senior director of compliance advisory: $280k+