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:
Human resources 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
IT 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
Project management Senior programme manager: $180k - $300k Programme manager: $150k - $250k Senior project manager: $130k - $200k Change manager: $100k - $180k
Governance 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+