ACCOUNTING FINANCE ROBERT HALF SALARY SINGAPORE SURVEY
Singapore - Despite the economic downturn, salary levels for finance and accounting professionals will hold steady in 2009 and 2010.
According to the latest Robert Half survey which polled around 400 senior HR and finance professionals in Singapore, average salaries for finance and accounting professionals in 2009 and 2010 will remain comparable to that in 2008 and 2009, despite current economic conditions.
Chief accountants, internal auditors and assistant accountants may also experience slight increases in salary levels, from 5% to 25%. This is partly due to the increasingly stringent financial regulatory and compliance standards, leading to a greater demand for audit and accounting professionals.
Tim Hird, managing director of Robert Half Singapore, believes that due to the challenges posed by the downturn, "the increasing need for highly skilled finance and accounting professionals have lent stability to salary levels for these roles".
However, 60% of companies have lowered or cut bonuses, while 36% have reduced monetary employee benefits like stock options and pensions. In addition, 30% of companies have lowered starting salaries for new hires. Comparatively, only 2% have implemented a salary freeze or decrease, while 46% of respondents report they will be willing to negotiate higher compensation levels for qualified and high-skilled candidates.
From the steady salary levels projected till 2010, finance and accounting professionals are still well in demand amid the recession. "Companies are requiring more competent candidates to effectively manage their finances and business risks as well as optimise costs and processes," says Dr Ernest Kan, president of Institute of Certified Public Accountants of Singapore.
________________________________________________________
More quality Lighthouse titles
Get your marketing department up to speed with Asia's most read marketing site
marketing-interactive.com
Want to get on the right side of the procurement department?
Direct them to Procurement Asia
