Singapore Salary Survey 2011

8/7/2019 Singapore Salary Survey 2011

1/32

With an economic growth rateo some 15%, many companiesocused strongly on developingtheir operations in Singapore andwe saw high levels o recruitmentactivity across the country.Following our consecutive quarters

o strong hiring, however, we didexperience a slight slowdownin activity levels during the lastquarter o 2010.

In the midst o abundant jobopportunities, the Singaporemarket again experienced awar or talent and companiesstruggled to retain their topemployees. While a number oproessionals moved o-shoreto take advantage o marketgrowth in China and Hong Kong,the local talent pool remainedintact. This was primarily dueto an infux o proessionals romAsia, Australia and Europe aswell as Singapore nationalswho returned to the country.

In the rst hal o 2010, there wasa noticeable increase in nancialreporting, compliance, credit riskand relationship managementpositions called to market withinthe nancial services industry.Most roles recruited were thoseput on hold during the globalnancial crisis. We saw growthin the consumer banking sectoras consumer condenceincreased, while hiring activityin the investment and wealthmanagement sectors remained ata constantly high level throughoutthe year.

Recruitment activity in thecommerce industry began tostrengthen in quarters three andour, particularly in the hospitality,FMCG, pharmaceutical, healthcare,engineering, industrial, oil and gasand IT&T sectors. The renewable

energy market picked up due toan increasing number o projectsbeing implemented within AsiaPacic, with a particular ocus onthe solar, wind and water sectors.Marketing and sales proessionals,general managers with prot andloss experience, procurementspecialists, project managersand application developers wereparticularly highly sought-ater.

During 2011, we anticipate growthin the aviation and aerospacesector in line with the launcho the Seletar Aerospace Park(scheduled or completion in therst hal o the year). Engineeringproessionals will be in highdemand within the chemical,energy, pharmaceutical,

biotechnological and industrialsectors. We also anticipate agrowing interest among candidatesin contract assignments as theylook to gain varied experience,increased exposure and theopportunity to work or renownedcompanies.

SinGApoRE

coUntRYoVERViEW

Robert Walters Global Salary Survey 2011


2/32

SINGAPORE

SINGAPOREACCOUNTING&FINANCE

SINGAPORE

ACCOUNTING&

FINANCE

ACCOUNTING&

FINANCE

RobertWaltersGlobalSalarySurvey2011363

Withover12yearsrecruitmentexperienceintheSingaporemarket,ouraccounting&financerecruitmentdivisionhasestablishedasolidreputation.Ourconsultantsspecialiseintherecruitmentofmidtoseniorlevelaccountingandfinancestaff,includingaccountants,financemanagers,auditors,costaccountants,analysts,pricing,taxandtreasuryspecialists,financedirectorsandCFOsonapermanentorcontractbasis.Weprovidearangeofrecruitmentservicestolisted,multinationalornewly-quoted

companiesaswellassmallandmediumsizedbusinesses.

MarketOverview

Thefirsthalfoftheyearsawbusinessespredominantlyrecruitingonareplacementbasis,especiallyforpositionsthatwerecutduringthefinancialcrisis.Towardstheendoftheyear,however,therewasasignificantincreaseinnewrolesascompaniesbuilttheir

teamsinpreparationforgrowthin2011.

Withanimprovedeconomy,hiringlevelswerehigherinmostindustriesthroughout2010-theadvertisingandmedia,FMCG,pharmaceuticals,manufacturing,oilandgas,shippingandlogisticssectorswereparticularlyactive.Althoughthemanufacturingindustrytooklongertorecover,wenoticedhighrecruitmentlevelsduringthefourthquarter-anencouragingsignashiringtypically

plateausinthisperiod(asemployeeswaitfortheirbonusesandAnnualWageSupplement(AWS)*tobepaid).

TheIT&Tsectorwasoneofthefirstindustriestoexperienceanincreaseinrecruitmentactivity.Companiesinthissectorincurredsubstantialsunkcost,whichtheywroteoffasinvestmentcapitalexpendituretoensureloweroperatingexpendituremovingforward.

Internalauditorswhowerewillingtotravelextensively,costaccountantsandcandidateswithtreasuryskillswereinconstantdemand.

Taxprofessionalswithexperienceintaxaccounting,compliance,advisoryandtransferpricingwerealsohighlysought-afterin2010.

Wesawdemandforfinancialanalysts-particularlylocaluniversitygraduateswith3-5yearspost'Big4'experience.Candidateswithregionalexposureremainedhighlysought-after.Therewasalsoahighdemandforlocally-basedprofessionalswithexperienceinlocalstatutoryrequirements.

Mostprofessionalsrecoveredtheirconfidencebyearly2010andmorewereexploringnewopportunities.Thiswaslargelyduetothestrongrecoveryoffinancialinstitutions,whichwasfurtherfuelledbyrobustlevelsofhiringinquartertwo.Salaryrisesrangedbetween10-15%ascandidatesexpectedcompaniestomakeupforthesalaryandbonusfreezesandlackofpayincreasesduringthemarketdownturn.

However,employerslookingtorecruitwerehighlystringentintheirselectioncriteria.During2010,wesawtheinterviewprocessevolvingtoincludeonlineassessments,personalitytestsandtechnicalandcompetency-basedinterviews.

ContractMarket

Therewasasteadyincreaseinhiringactivitythroughout2010withFP&A,taxandfinancial

analysisallkeyareasofdemand.Seniorfinanceprofessionals(e.g.financeinterimmanagers,financialmanagersandfinancialcontrollers)weresought-aftertowardstheendoftheyear,predominantlyacrosstheshipping,IT&T,FMCG,retailandmaritimesectors.Thisincreaseddemandwaslargelyduetofirmsusingcontractorsasanalternativeworkforcetoovercomeheadcountrestrictionsonpermanenthires.

Employeeswerecautiousatthebeginningof2010butgrewmoreoptimisticastheyearprogressed.Asthepermanentmarketslowly

recoveredfromtheeffectsoftheeconomiccrisis,manycandidatessawcontractworkasanopportunitytoworkinanewroleororganisationandgainvaluableexperience.

Outlookfor2011

Weanticipateayearofrecoveryandgrowthformostsectorsin2011,withfirmsalreadyhavingplansinplacetorecruitforrolesvacatedattheendof2010.Basedonthis,weexpecttheFMCG,IT&T,pharmaceuticals,retailandmanufacturingsectorstohire

actively.Wealsoexpectmoreemployerstofocusondevisingandimplementingretentionstrategiesforhighpotentialandstrongperformingemployeesascompetitionforthebesttalentintensifies.

FP&Aspecialists,financialplanninganalystsandpricingandcommercialmanagerswillbesought-after,aswillcandidateswiththeabilitytomulti-taskacrossfunctions(e.g.system

implementationorprocessimprovements).ProfessionalswithstableCVs,businessdevelopmentskillsetsandexposuretoERPaccountingsystems,SAP,HyperionandOraclewillalsobehighlysought-afterastheyenhanceproductivityinthetraditionalfinancefunctionwithoutcreatinganeedforadditionalheadcount.

Wepredictsalaryriseswillfluctuate,althoughmoststaffwhomoverolesshouldbe

abletosecurepayincreasesofaround15%,dependingonsupplyanddemand.Professionalsarealsolikelytocontinuetobeinterestedintemporary-to-permanentopportunitiesastheyseektoestablishtheirlong-termsuitabilityforaroleandorganisation.

*Note:The"AnnualWageSupplement"(AWS)isalsoknownasthe13thmonthpayment.Itrepresentsasingleannualpaymentto

employeesthatissupplementarytothetotalamountofannualwagesearned.


3/32

SINGAPORE

SINGAPOREACCOUNTING&FINANCE

SINGAPORE

ACCOUNTING&FINANCE

ACCOUNTING&FINANCE

RobertWaltersGlobalSalarySurvey2011 364

ROLE PERMANENT

SALARYPERANNUM$SGD

CONTRACT

RATEPERDAY$SGD

2010 2011 2010 2011

ChiefFinancialOfficer $250-400k+ $250-450k+InternalAuditor-Director $220-280k $220-300kTaxDirector $220k+ $220-300k+FinanceDirector-LargeOrganisation $210-400k $220-350k $650-1500 $700-1500

FinancialController-LargeOrganisation $160-200k $170-190k $600-800 $600-800FinanceDirector-Small/MediumOrganisation $150-210k $160-200k $600-825 $600-825CommercialManager $140-180k $150-190kTaxManager $130-200k $150-200k $400-650 $400-700TreasuryManager $120-170k $120-180kFinancialController-Small/MediumOrganisation $120-170k $120-180k $500-650 $500-700CorporateFinance(6+yrsexp) $120-170k $120-180kPricing/BidManager $120-150k $140-180k $450-650 $500-750FinancialPlanning&Analysis(6+yrsexp) $110-180k $115-180k $400-650 $450-650CreditAnalyst $40-50k $60-80k $175-220 $200-325

CreditController(8+yrs'exp) $85-130k $90-150k $300-500 $350-600InternalAuditor-Manager $100-180k $110-180kBusinessAnalyst/Controller(6-10yrsexp) $90-150k $120-180k $375-625 $375-675FinanceManager(4-6yrsexp) $85-120k $90-150k $300-500 $325-500TaxAccountant-Senior(6+yrsexp) $85-110k $75-100k $275-425 $300-400GroupAccountant-Consolidations $70-100k $70-100k $250-400 $250-425FinanceManager(0-3yrsexp) $70-100k $75-100k $250-400 $300-350BusinessAnalyst(3-5yrsexp) $65-78k $70-90k $225-325 $225-375CostAccountant $60-90k $65-90k $225-350 $250-350TreasuryAnalyst $60-90k $60-100k $225-400 $225-450Auditor(3-7yrsexp) $55-85k $60-120k $225-350 $325-500

TaxAccountant(3-5yrsexp) $55-80k $65-75k $250-325 $250-325Accountant(3-5yrsexp) $54-70k $60-75k $175-300 $225-300FinancialAnalyst(3-5yrsexp) $52-80k $60-80k $175-325 $225-325

NB:Figuresarebasicsalariesandexcludeemployer'sCPFcontributions.


4/32

SINGAPORE

SINGAPOREBANKING&FINANCIALSERVICES

FRONTOFFICEBANKING

SINGAPORE

BANKING&FINANCIALSERVICES-FRONTOFFICEBANKING



MarketOverview

ThevastlyimprovingeconomiesandstrengthofthecurrenciesinAsiameanttherewasaglobalrushforinstitutionstofocusonrevenue-generatingactivitiesintheregion.TheemergenceofAsianmultinationalcorporationssawsomeofthelargestM&Asandcapitalmarketstransactionsoriginatinginthecontinent,whichledtoincreasedcompetitioninthebankingindustry.

Thesignificantriseinthenumberofhighnet

worthindividualsfuelledthegrowthofthewealthandinvestmentmanagementindustriesacrossAsia,particularlyinSingapore.Thecountrybenefitedfromitsglobalreputationasanefficientlyruncitystatethatboastsafirstclassinfrastructure,business-friendlyemploymentandregulatoryclimate,favourabletaxstructure,highly-educatedbilingualtalentpool,strongandstablecurrencyandabundantsovereignwealth.

SME&CorporateBankingThefirsthalfof2010sawhighlevelsofrecruitmentasanumberofbankslookedtoincreasetheirexposureinthelocalmarkets.Whilefirmscontinuedtohireinthesecondhalfoftheyear,theydidsoatamoremeasuredpace.

AttheSMEandlocalcorporatelevel,bankssoughtprofessionalsfromafiniteSingaporean

orregionalAsiantalentpool.Toaddresstheshortageoftalent,banksstartedtoconsidercandidateswithalternativecorporateexperienceinthenon-bankingcommercesector.

SMEbankerstookupalternativeentreprenuerialpursuitsandcareerswitchesintothecommercialandcorporatebankingspace,creatingastableflowofopen

vacanciestobefilled.Corporatebankerswereopentomovingintoinstitutionsthatallowedthemtoexpandtheirportfolioandcoverage.Whileemergingforeignbanks

offeredthewidestbreadthofcoverage,localfirmsstillstruggledtoprovidebiggerportfoliosextendingbeyondlocalmarkets.Asaresultlocalfirmsfoundithardertorecruitthebestprofessionalsinatalentshortmarket,withmanyinstitutionspromisingincreasedtargetbonuses(whichtranslatedtohighertargetsintheirnextbudget)toretaintheirtopbankers.

Outlookfor2011Hiringlevelsforrelationshipmanagersandcreditprofessionalsarelikelytoremainat

presentratesthroughout2011.Interestshouldremainhighformorespecificskillsetsinstructuredtradefinance,factoring,commoditiesorfinancialinstitutions.BankerswithestablishednetworkswithinthetopmultinationalsandlargeAsiancorporationsareexpectedtobeindemand.

InvestmentBanking

Thefirsthalfof2010sawahighlevelof

recruitmentactivityfollowingastrongfourthquarterof2009.However,hiringslowedinquarterthreeasbanksbecamewaryofoverrecruiting;whentheydidhire,organisationsonlyrecruitedhighlyskilledcandidatestosupporttheirimmediatebusinessneeds.

CandidateswithSouth-EastAsiandealexperiencewereparticularlyindemandasbankssoughttorebuildandgrowteamsbacktopre-financialcrisislevels.

Eventhoughprofessionalswerestilluncertainaboutswitchingjobs,thelocaltalentpoolwassufficienttofulfildemandandwedidnotexperienceanycandidateshortages.Organisationsonlysourcedprofessionalsfromoverseasforveryseniorlevelroles.

Outlookfor2011

Weexpectbankstocontinueinterviewing

candidatesin2011inanticipationoftheirhiringneedsthroughouttheyear.Recruitmentactivityislikelytobemoderatewithgradualgrowththroughouttheyear.

Professionalswithstrongacademicbackgroundsandaproventrackrecordwithinatop-tierbank(alongwithtechnicalskillsandproductanddealexperience)arelikelytocontinuetoattractinterest.Basicsalarylevelswillcontinuetoincreasebeforestabilisingin2011withtophireswhomovewithinthesamespecialisationreceivingguaranteedpackages.

TransactionalBankingAftertheglobalfinancialcrisis,transactionalbankingbecameoneofthekeyfocusareas

forgrowthduetoitsresilientandlowrisknatureandstablemargins.Thefirsthalfof2010sawahighlevelofrecruitmentactivitybymajorbanks,whilethesecondhalfwasledbysmallerbankswithrenewedinvestmentsintheirbusinesses.

Therewasastrongdemandforcashmanagementspecialityandtradeprofessionalsacrosssales,productsand

otherrelatedfunctionsduetomajortradeflowsnowbeingcentredinAsia.Therewasalsoahighlevelofhiringactivityinthesupplychainsectorswithaparticularfocusonsales,product,implementationandsolutiondelivery.

Transactionalprofessionalswereconfidentofgettinggoodsalaryrisesandbonusesasthelocaltalentpoolwasverylimited,especiallyinthetradesector.Becauseofthisshortage,bankswerealsowillingtohireoverseas

candidates.

Outlookfor2011

Weanticipatestrongandrisingdemandin2011duetoacontinuedfocusonbusinessgrowthinAsia.Businessperformancewillberobustandsustainedwithfairlystablerecruitmentactivity.Wewillalsocontinuetoseedemandforsalesprofessionalsinthetradeandsupplychainsector,aswellasfor

productmanagers.Salaryrisesarelikelytobehealthyasaresultofsteadyrevenuestreamswithinatraditionalandsustainablebusinessenvironment.


5/32

SINGAPORE


FRONTOFFICEBANKING

SINGAPORE




WealthManagement

WhileAsiaprovedtobethemostresilientregionduringtherecentglobalfinancialcrisis,thecontinentalsore-emergedasakeyfocusforwealthmanagersgloballyandSingaporeremainedattheforefrontasthewealthmanagementcapitalofAsia.Withthereturnofconsumerconfidenceandimprovementsinthestockmarket,wealthmanagementintheprivateandprioritysectorswereamongthefirsttorecover.

Hiringactivitypickeduptowardstheendof2009andgainedstrongmomentuminto2010.Mostrecruitmentearlyinthisperiodwasdominatedbynewerormoreaggressivefirms.Moreestablishedbankssoonfollowedandsteppeduprecruitmentactivitytoreplenishheadcountlosttothesemoreaggressivemarketentrants.

Whileonthelookoutfornewtalent,banksalsocontinuedtomonitortheperformanceoftheirexistingrelationshipmanagersclosely,whilecompaniescontinuedtoseekhigh-performingandexperiencedbankers.

Astherewasalackofavailablecandidateswiththeseskillsets,somebanksofferedapremiumfortoptalent.Banksthathadhiredlessaggressivelyatthestartoftheyearsoughttoattractthebesttalentatyear-endbyofferingtobuyouttheirbonuses.

Firmspreparedtoconsiderprofessionalswithnowealthorrelationshipmanagementexperiencesecuredexcellentcandidates.Inadditiontorelationshipmanagerswesawdemandforinvestmentadvisorsandproductprofessionals.

Forbanksthatofferedconsumerandprivatebankingservices,internalcompetitionpersistedforAssets-Under-Managed(AUM)

ingraduatingwealthaccounts.Therewerefurtherdistinctionsofwealthcategoriesrelatingtomass,emergingandthenouveauriche(assetsjustoverUSD1-2

million).Therewasalsoarisingpopularityforindependentadvisoryplatforms.Inaddition,somebanksexploredalternativemarketcoverage,subjecttorelatedcomplianceconsiderations.Thesetrendscreatedahigherdemandforrelationshipmanagers.

Generally,privatebankersweremoresensitivetoclient-relatedconsiderations(suchasbanking/productplatforms)andwerethereforemorecautiousinswitchingjobsbetweenbanks.Incomparison,prioritybankers

weremorewillingtomoveforbetterupfrontsalaries.

Outlookfor2011

Weexpectsustainablegrowthinboththeprivateandprioritysectorsin2011.However,duetoalackofmaturebankersinSingapore,weanticipatethatmoreAsianbankerswillbehiredfromoverseasmarkets.

InvestmentManagement

2010sawaperiodofconsolidationintheinvestmentindustrywithbankslookingtorestructuretheirnon-coreassetmanagement,alternativeandprivateequitybusinesses.Asthestockmarketrecovered,traditionalfundshousesperformedstrongly.However,wedidnotseeaproportionateincreaseinheadcountforinvestmentprofessionals.

Theprivateequityandalternativeindustries

continuedtobedominatedbysmallerplayerswithmodestfundsizes.Withafavourabletaxandregulatoryclimate,highnetworthindividualslookedtobuildtheirinvestmentbasesinSingapore.Theseset-upsusuallyconsistedofteamsformedthroughpersonalnetworkswithlimitedpotentialforexternalhires.

Outlookfor2011

Weexpectthissectortohavemoderateheadcountrequirementsintheirinvestmentteamsinthecomingyear.Wealsoseepotentialdemandforbusinessdevelopment

orfund-raisingrolesasemployersseektoexpandexistingregionalsalesanddistributionchannels.

Sales&TradingAsthemarketgraduallyrecovered,thehiringmomentumwithinthesalesandtradingsectorcontinuedfromthesecondhalfof2009intothefirstsixmonthsof2010,withthefocuslargelyonthefixedincomeassetsector.Aswemovedintothesecondhalfof2010,however,thegradientofrecoveryreachedaplateau.

Hiringactivitiessloweddownconsiderably,withmosthiresbeingstrategicinnature.

Outlookfor2011

Weexpectthefirstquarterof2011tostayrelativelycautiouswithhiringactivitypickingupfromthesecondquarteronwards.Whilethefixedincomespacecontinuestobeofkeyinterest,wepredicttherewillbeagrowingappetiteforcommoditiesproductsinAsia,whichwillincreasedemandfortalentinthissector.


6/32

SINGAPORE


FRONTOFFICEBANKING

SINGAPORE




ROLE PERMANENTSALARYPERANNUM$SGD

ANALYST/ASSOCIATE MANAGER/AVP VP/DIRECTOR

2010 2011 2010 2011 2010 2011

InvestmentManagementPrivateEquity $100-150k $100-150k $150-250k $150-250k $250k+ $250-350k+PortfolioManagement $60-102k $60-100k $102-192k $100-190k $192k+ $190-350k+Research $60-100k $60-100k $100-192k $100-180k $192k+ $180-350k+InstitutionalMarketing $48-105k $48-100k $105-165k $100-165k $165k+ $165-350k+

Sales&TradingStructuring $68-120k $60-120k $120-230k $120-200k $230k+ $200-350k+Trading $50-102k $60-120k $102-198k $120-200k $198k+ $200-380k+Custody/TrustSales $42-86k $45-85k $86-180k $85-150k $180k+ $150-220k+TreasurySales $48-90k $50-100k $90-175k $100-175k $175k+ $175-350k+

InstitutionalBankingCorporateBanking(RM) $42-85k $48-90k $85-174k $90-165k $174k+ $165-300k+CorporateBanking(Credit) $32-80k $36-80k $80-138k $80-140k $138k+ $140-300k+

EnterpriseBanking(RM) $32-80k $36-65k $80-130k $65-120k $130k+ $120-240k+TransactionBanking $50-80k $48-90k $85-160k $90-160k $160k $160-280k+

WealthManagementPrivateBanking(RM) $90-120k $85-120k $120-220k $120-220k $220k+ $220-320k+PrivateBanking(InvestmentAdvisor)

$50-100k $60-110k $100-178k $110-170k $178k+ $170-320k+

PriorityBanking(RM) $45-84k $45-65k $84-120k $65-120k $120k+ $120-200k+

InvestmentBankingInvestmentBanking $100-150k $120-200k $150-250k $200-300k $250k+ $300-430k+

DebtCapitalMarkets $60-130k $100-180k $130-200k $180-250k $200k+ $250-400k+EquityCapitalMarkets $60-130k $100-180k $130-200k $180-250k $200k+ $250-400k+


RM-RelationshipManager


7/32

SINGAPORE


MIDDLE&BACKOFFICEBANKING

SINGAPORE

BANKING&FINANCIALSERVICES-MIDDLE&BACKOFFICEBANKING

BANKING&FINANCIALSERVICES-MIDDLE&BACKOFFICEBANKING


RobertWaltershasthelargestfinancialservicesrecruitmentbusinessinSingapore,withspecificboutiqueteamsspecialisingacrossfinance,operations,governance,riskandprojectsforbothpermanentandcontracthires.Thedivisionhaswonanumberofawardsoverthelast12yearsandisconsistentlyvotedthenumberonemiddleandbackofficerecruiterinSingaporebyseveralindependentpublications.

MarketOverview

Wesawacontinuationofincreasedrecruitmentactivityfrom2009into2010acrossthemiddleandbackofficefunctions.MirroringthefindingsofthequarterlyRobertWaltersAsiaJobIndexandtheSingaporeGovernmenteconomicstatistics,hiringactivitygrewmonth-on-monthuntilitpeakedinJulybeforemoderatingoverAugustandSeptemberwiththeusualseasonalslowdownintoquarterfour.

Thefirstquarteroftheyearsawtherecruitmentofseniormanagerstobackfillpositionsvacatedduringthefinancialcrisisortofitwithrevisedorganisationalstuctures.Wesawmoredemandatthejuniortomid-levelastheyearprogressedbeforeattrition-relatedreplacementhiresdominatedthelandscape.

MiddlemanagementprofessionalsfromthejuniortoexperiencedVPlevelsweremostin

demandin2010.Atthemoreseniorlevel,therewasagoodsupplyofoverseastalentasthosewhohadbeenmaderedundantduringthedownturnsoughtnewjobs.ThesecandidateswereattractedtoAsiaseconomicboomandSingaporestax-friendlyenvironment,withparticularinterestfromSouth-EastAsia,EuropeandAustralia(asopposedtotheUS).

Candidatessoughtgenerousincreasesinbasicpaytocompensateforthesalaryfreezesimposedduringthefinancialcrisis.However,manywerewillingtolowertheirexpectations

inexchangeforjobstabilityandbettercareerprospects.Increasedsalarydemandswerenotalwaysmetasinstitutionswerestillcostconsciouswhengrowingtheirmiddleandbackofficeinfrastructuresupport.

Asiancandidatesreturningfromoverseaswerehighlysought-afterbythoseinstitutionswithanAsianfocus,beitfromabusinessorstaffsustainabilitypointofview.Whilewesaworganisationshiringmoreoverseasmanagerstostarttheirsetupsbeforethefinancialcrisis,

firmshavetakenamorebusiness-as-usualapproachinrecentyears.

Outlookfor2011

WeexpectSingaporewillremainakeyglobaloff-shorefinanceandoperationscentreforthosebankswherecostmanagementremainsanimportantfocus.Singaporewillalsocontinuetobeacrucialheadquarterslocation,whereseniormanagementarebasedandprojectsarestarted.

WithastrongcurrencyincreasingthecostofsettingupoperationsinSingapore,however,bankswillbeunderpressuretorestructuretheiractivitiesforimprovedcostefficiency-particularlyinareasofproductsophistication,analysiscapabilityorclientmanagement.Firmsmayalsolooktomovethemoretransactionalorlesservalueaddfunctionstootherlowercostcountries.Ascompanies

havesoughtstreamliningintheseareas,wehaveseensomeseekingtoupgradetheskillsofexistingstaffandhiringexperiencedtalenttofulfilthesenew'valueadd'areas,atrendweexpecttocontinue.


8/32

SINGAPORE


CONTRACTING

SINGAPORE

BANKING&FINAN

CIALSERVICES-CONTRACTING

BANKING&FINAN

CIALSERVICES-CONTRACTING


ROLE CONTRACTSALARYPERANNUM$SGD


2010 2011 2010 2011 2010 2011

FinancialControl&TaxFinancialReporting $40-80k $50-95k $65-120k $95-130k $125k+ $130k+RegulatoryReporting $35-65k $45-90k $60-110k $90-120k $115k+ $120k+

ManagementReporting

StrategicPlanning&Analysis $40-70k $50-90k $70-125k $90-150k $135k+ $150k+Revenue&CostReporting $40-70k $50-90k $70-110k $90-130k $115k+ $130k+MISReporting $35-65k $40-85k $65-95k $85-120k $110k+ $120k+

ProductControlCommodities&Exotics $40-85k $50-90k $80-140k $90-160k $150k+ $160k+FixedIncome&Equities $40-85k $50-90k $80-135k $90-160k $150k+ $160k+Cash $40-70k $50-75k $65-110k $75-140k $125k+ $140k+

NB:Figuresarebasicsalariesandexcludeemployer'sCPFcontribution.


9/32

SINGAPORE


FINANCE

SINGAPORE

BANKING&FINAN

CIALSERVICES-FINANCE

BANKING&FINAN

CIALSERVICES-FINANCE


Thespecialistfinancedivisionisadedicatedboutiqueteamthatfocusesexclusivelyon

middleandbackofficefinancialcontrolpositions.Areasofcoverageincludemanagement/financial/regulatoryreporting,capitalmanagement,productcontrolandtax.

MarketOverview

Theglobalfinancialcrisisturnedthespotlightoncontrollerstoprovidemoreaccurateandtimelyrisk-basedforecasting,withmorepressureoncapitalmanagementandfinancial

reportingrequirements.Astheheadofficelocationformanyfirms,thisledtoahealthydemandfortalentedcontrollersinSingapore.

Forthelargerbanks,countriessuchasIndiaandthePhilippineswerealternativesitesforoperationalcontrolroles,suchasmanagementinformationsystem(MIS)reportingandP&Lproduction.Wherethiswasthecase,however,wesawfirmsrelocatinghighervalueaddplanningandanalysisrolestoSingaporefromotherdevelopedmarkets,whichalsotendedtobemoreseniorinnature.

ForbankswhichhadapriorpreferenceforCharteredAccountants(CA)(especiallythose

fromUKandAustralia),wewitnessedanewdemandforSingaporeCertifiedPublicAccountants(CPAs).ThiswasdespitetheincreasedavailabilityofCAslookingtorelocatetoSingaporefromregionsaffectedbythefinancialcrisis.ThisshiftindicatedagradualappreciationoflocalCPAtalentbyexpatriatehirerswhowerepreviouslynewtoSingapore.

Incontrasttopreviousyears,theappetitefor

newly-qualifiedaccountantsorthosestillinapprenticeshipwasnotasstrongasitwasforqualifiedexperiencedaccountants.Thiswasfoundacrossthefinancialservicesspectrumincludingnon-bankfinancialinstitutions(NBFI).

Despitethedeclineintradedstructuredproducts,experiencedglobalmarketsproductcontrolspecialistsremainedsought-after.Wealsosawdemandforfinancechangeexpertsasmanyinstitutionswereupgradingprocesses,buyingnewsystemsormovingtoanewmodelaltogether.

Someoftheseprojectswereforimprovedautomation(legacywork-in-progress)while

otherswereforintegrationpurposes.

Outlookfor2011Movinginto2011,weexpectSingaporetoremaintheAsiancapitalcentreforglobalbanksandtheircontrolfunctions,withsalaryincreasesforbusinessengagingmiddleofficecontrollers.

Wealsoexpecttoseeaconcentrationof

seniorrolesbasedinSingaporewithoversightacrossfinancesharedservicecentresaroundtheregion.TheimplementationofBaselIIIwillalsoleadtomorehiring,butinlimitedvolumes.Weexpectproductcontrollerrolestooutnumbermoregeneralistpositions,withhigherdemandforproduct-trainedCFOsthanfinancialreportingCFOs.



2010 2011 2010 2011 2010 2011

FinancialControl&Tax

TaxAccounting $40-60k $50-70k $65-115k $70-120k $120-220k+ $120-240k+FinancialReporting $40-60k $50-90k $65-115k $90-120k $120-210k+ $120-220k+RegulatoryReporting $35-55k $45-75k $60-105k $75-110k $110-170k+ $110-200k+

ManagementReportingStrategicPlanning&Analysis $40-60k $50-80k $70-120k $80-130k $130-260k+ $130-300k+Revenue&CostReporting $40-60k $50-70k $70-105k $70-125k $110-200k+ $125-240k+MISReporting $35-55k $40-75k $65-90k $75-110k $105-160k+ $110-200k+

ProductControlCommodities&Exotics $40-75k $50-90k $80-130k $90-135k $145-280k+ $135-300k+FixedIncome&Equities $40-70k $50-90k $80-125k $90-130k $145-280k+ $130-300k+Cash $40-60k $50-75k $65-100k $75-125k $120-220k+ $125-260k+


370


10/32

SINGAPORE


GOVERNANCE

SINGAPORE

BANKING&FINAN

CIALSERVICES-GOVERNANCE

BANKING&FINAN



Thespecialistgovernancedivisionisadedicatedboutiqueteamthatfocuses

exclusivelyonaudit,operationalrisk/controlandcompliancepositions.Keyareasofcoverageincludecreditriskreview,specialinvestigations,anti-moneylaunderingandcontrolroom.

MarketOverviewSingaporecontinuedtobeakeyregionalauditcentreresponsiblefortherolloutofauditmethodologyacrossAsiaPacificin2010.

Duetostrongbusinessgrowth,manybanksincreasedtheironshoreauditcapabilitiestomeetgrowingbusinessdemands.However,astheoverseas-basedaudittalentpoolmatured,anumberofbanksstartedtoleverageonthispoolofexperiencedauditorsbysettinguponshoreauditcapabilitiesinregionalsubsidiariesandbranches.

FormanySingapore-basedauditors,thismeantlesstravellingwasrequired.Thishelpedstemtheoutflowofauditorswithfamilieswhohadcitedtoomuchtravellingasareasonforleavingtheprofession.Fromacareerperspective,however,theSingapore-basedauditorwouldhavefeweropportunitiesforalargerregionalcoverage(beyondSouth-EastAsia),whichinturnlimitedtheprospectsforanincreaseinremuneration.

Wecontinuedtowitnessexperienced

auditorsmovingoutoftheprofessiontootherbusiness-facingmiddleofficepositions,althoughtheopportunitiestodosowerelimitedwithincreasinglyleanerorganisationchartsinplace.

Incompliancetherewasacontinuedfocusonbuildingthedepthoflocalknowledge,bothinSingaporeandinternationalmarkets.Thiswasincontrasttopreviousframeworks,wherecomplianceprofessionalswereexpectedtocontributefromamoretopdown,bestpracticeperspective.

Mosthiresmadein2010werelocally-basedprofessionalsfamiliarwithon-the-ground

regulationsandanestablishedtrackrecordorrelationshipwiththeregulators.PolicysettingoversighttyperolesthatwereavailabletonewexpatriatesremainedexclusivetoselectinstitutionswithheadquartersinSingapore.

Althoughmonitoringroleshadbeenthehighlightofpreviousyears,itwasnotanareaofhiringfocusin2010.Thecompliancerecruitmentmarketwasbuoyedbyanumber

ofnewfundsstart-ups,wheretheprioritywasforexperiencedlocalcomplianceprofessionals,especiallythosewithoffshorespecialpurposeentitysetupexperience.

Theoperationalriskfunctionevolvedfromitsinitialfocusonpolicyworktoanemphasisonriskmanagementattheoperationallevel.Followingthedownturn,structureswerere-modelledatdifferentinstitutionswithanemphasisattheseniorlevelstoremainrelevanttobusinessneeds.

Wewitnessedadecreaseindemandforoperationalriskandcontrolhiresin2010comparedtopreviousyears.Thiswasinfluencedbybetterinternalmobilityprogrammeswhereinternalauditorsandbusinessoperationsprofilesweretargetedforinternaltransferstofilltheseroles.

Areasofinterestin2010werelargelyproductrelatedsuchasfixedincome,currenciesandcommodities(FICC).Onafunctionallevel,wesawincreaseddemandforthemoregeneralisttechnologyandoperationsriskandcontrolsroles.

Outlookfor2011

Withincreasedregulatorydemandinacost

consciousperiod(affectingtravelbudgetsforregionalcoverage),weexpecttoseeacontinuedemphasisonexperiencedhiresin2011.Businesseswillbekeentomaintainaleanerteamofmoreexperiencedrisk-basedprofessionals,asopposedtohiringalargeteamofjuniorcheckers.

Effectivebusiness-facingproblemsolverswillbeabletocommandapremiumsalaryand

seniorhireswillbeexpectedtotakeonmorebusinessengagementresponsibilitieswithlessfocusonlargeteammanagement.


11/32

SINGAPORE


GOVERNANCE

SINGAPORE

BANKING&FINAN


BANKING&FINAN





2010 2011 2010 2011 2010 2011

InternalAuditGlobalMarkets $40-65k $40-80k $65-130k $80-160k $155-300k+ $160-350k+WealthManagement $40-60k $40-70k $65-130k $70-160k $140-280k+ $160-350k+Credit $40-60k $40-70k $50-130k $70-130k $140-270k+ $130-280k+Technology&Operations $40-55k $40-70k $50-120k $70-130k $130-260k+ $130-280k+

Compliance/Finance $40-55k $40-70k $50-120k $70-130k $130-260k+ $130-280k+

OperationalRiskGlobalMarkets $40-60k $40-70k $80-120k $70-140k $150-280k+ $150-300k+Infrastructure $40-60k $40-70k $65-120k $70-120k $130-270k+ $120-280k+

ComplianceGlobalMarkets $40-65k $40-80k $65-155k $80-160k $155-350k+ $160-350k+ControlGroup $40-65k $40-70k $65-155k $70-160k $155-300k+ $160-300k+Investment/WealthManagement $40-65k $40-70k $65-140k $70-160k $140-300k+ $160-300k+AML/Monitoring $40-60k $40-70k $60-140k $70-150k $140-280k+ $150-300k+



12/32

SINGAPORE


OPERATIONS&PROJECTS

SINGAPORE

BANKING&FINAN

CIALSERVICES-OPERATIONS&PROJECTS

BANKING&FINAN



Theoperationsandprojectsdivisionisadedicatedboutiqueteamthatspecialises

exclusivelyinmiddle/backofficeoperationalandprojectmanagement/businessanalysispositions.Areasofcoverageincludebutarenotlimitedto:settlements,collateralmanagement,corporateactions,fundadministration,datamanagement,reconciliation,assetservicing,primebrokerage,clientservicesandre-engineering.

MarketOverview

WiththelargerbanksalreadyestablishedinSingapore,volumehiringmandateswerenotascommonaspreviousyearswhenbanksfirstsetupoperationscentresinthelocalmarket.Otherthanselectinstitutionsbuildingupsmallproductteams,hiringwaslargelyonamoderategrowthorattritionreplacementbasis.

TherewassomemovementoutofSingapore,eithertolowercostregionsorarelocationoffunctionsrequiredtooperateonLondonhourstoEuropeancountries(aslocalorganisationsfaceddifficultiesretainingstaffworkingsuchshiftpatterns).Somebanksadoptedaonebankconcepttorealisesynergieswhereprivateandwholesalebankingoperationsweremerged,leadingtosavingsinheadcount.

AstheSingaporetalentpoolmatured,organisationswerekeentodevelopamore

sustainablelocaltalentpool.ExternalopeningsattheMDlevelwerelimited.

Projectmanagerswereinstrongdemand.Whereasfirmsconcentratedonsettinguporbuildingnewteamsinpreviousyears,theserolesfocusedonimprovingintegration,drivingefficienciesandoff-shoringin2010.Therewasalsoarenewedfocusamongfirmsonbetteroversightandcontrolofprojectdeliverables.Manyofthesetimelimited,integration-relatedroleswereofferedonacontractbasis.

Outlookfor2011

Weexpectfurtherbottomlinefocuswhen

themoreestablishedfinancialservicesorganisationsarehiring.Wealsoanticipatesomeadditionalheadcounthiringfromnewerbusinesses.Talentwithcommodities,derivatives,client-facingandprivatebankingexperiencearemorelikelytoattractapremiumduetotheirrelativescarcityinthemarket.


13/32

SINGAPORE


OPERATIONS&PROJECTS

SINGAPORE

BANKING&FINAN


BANKING&FINAN





2010 2011 2010 2011 2010 2011

Settlements&ProcessingDerivatives/Commodities/Futures $40-80k $40-80k $110-135k $110-135k $145-270k+ $135-270k+PrimeBrokerage $50-80k $50-80k $110-135k $110-135k $140-220k+ $140-250k+PrivateBanking $35-70k $35-70k $100-120k $100-125k $135-270k+ $140-270k+FundManagement $40-60k $40-70k $70-100k $80-100k $130-200k+ $120-190k+

FixedIncome/Equities $35-55k $40-60k $70-110k $70-120k $120-170k+ $140-200k+FX/MM $35-60k $35-60k $70-100k $70-120k $120-165k+ $130-180k+Insurance $30-40k $30-45k $50-70k $50-70k $80-140k+ $90-140k+

MiddleOffice&TradeSupportDerivatives/Commodities/Futures $40-80k $45-90k $110-135k $120-135k $145-190k+ $145-200k+OperationsControl $40-65k $40-70k $90-130k $90-130k $140-180k+ $140-200k+OtherProducts $40-60k $40-70k $70-125k $80-125k $130-175k+ $130-200k+ClientServices $45-60k $45-70k $80-110k $80-110k $120-160k+ $120-170k+

AssetServicingDocumentation $40-65k $40-65k $85-110k $80-120k $120-220k+ $125-220k+CollateralManagement $40-60k $40-60k $80-120k $80-120k $135-175k+ $135-180k+Reconciliation&Investigation $40-60k $40-60k $85-120k $80-120k $130-170k+ $130-170k+DataManagement $40-60k $40-60k $80-110k $80-110k $120-160k+ $120-170k+FundAdministration $40-60k $40-60k $70-110k $70-100k $120-170k+ $110-170k+CorporateActions $35-50k $40-55k $70-100k $70-110k $120-150k+ $120-170k+CreditAdministration $40-60k $40-60k $75-110k $70-110k $120-160k+ $120-170k+

ProjectManagement&BusinessAnalysisStrategy $50-90k $60-90k $110-140k $110-150k $160-280k+ $160-280k+

Finance/Infrastructure $40-80k $40-80k $90-130k $90-120k $140-225k+ $135-230k+WealthManagement $40-60k $40-60k $70-120k $70-120k $130-250k+ $130-250k+FinancialMarkets $40-65k $40-65k $70-120k $70-120k $130-230k+ $130-250k+TransactionalBanking $40-60k $40-65k $70-90k $70-100k $130-180k+ $120-200k+ConsumerBanking $40-60k $40-60k $70-90k $70-100k $130-180k+ $120-200k+



14/32

SINGAPORE


RISK&VALUATION

SINGAPORE

BANKING&FINAN

CIALSERVICES-RISK&VALUATION

BANKING&FINAN

CIALSERVICES-RISK&VALUATION


Therisk&valuationdivisionisadedicatedboutiqueteamthatspecialisesexclusivelyin

recruitingformarket/creditrisk,quantitativeanalysisandvaluation/pricetestingpositions.Sectorscoveredincludewholesale,consumerandprivatebanking.

MarketOverview

Thedemandforriskprofessionalsincreasedduetocontinuedbusinessgrowthandchangeintheregulatorylandscape.

Creditandportfolioriskmanagementpositionsbecameapriorityformanyfirmsastheybeganlendingagainandregulatoryburdenincreased.CounterpartyfinancialinstitutioncreditspecialistswerealsoindemandasbankswerekeentorestructuretheircapitaltocomplywithBaselIIIregulations.

Incomparisontothecreditrisksector,wesawfewerhiresformarketriskpositions(mostofthesepositionsweretraditionallybasedoff

shorewithinheadoffices).

Afterthefinancialcrisis,tradingdesksalsoturnedtheirattentiontocashproducts

(asopposedtoexoticproducts)andthisconsequentlytranslatedtolowerlevelsofmarketrisksophisticationanddemand.

Valuationorpricetestingalsobecameakeyareaofinterestasbankssoughtacontrolmeasureformiddleofficetradingactivitiesafterthefinancialcrisis.Thisparticularsegmentofthemarkethadbenefitedfromtheimprovedtradingappetiteofthefront

office.Highlyacademicprofessionalswithproductcontrolormarketriskbackgroundswerehighlysought-afterfortheseroles,withapremiumpaidfortherequisiteproductexperience.

Outlookfor2011Weexpectastrongandsteadydemandforcreditriskprofessionalsin2011asthesectorremainsresilientinlinewiththeoptimisticmarketoutlook.

WithbankslookingtoincreasetheirtradingexposureinAsia,firmswithregionalfinancial

controlcentresinSingaporemaylooktoupgradetheirvaluationexpertisebyrecruitingvaluationprofessionals.Wealsoforeseethatthevaluationandpricetestingfunctionwillcontinuetoimprovetheirmethodologiesandundergostructuralchangeswithinthebanks.Asthisisatypicallynichefunction,however,wedonotanticipatesignificanthiringnumbers.



2010 2011 2010 2011 2010 2011

CreditRiskWealthManagement $40-65k $50-80k $65-110k $75-120k $140-300k+ $150-300k+WholesaleBanking $40-65k $60-90k $65-130k $90-130k $140-300k+ $140-300k+SME/Consumer $40-55k $50-60k $55-100k $65-100k $120-240k+ $120-250k+

MarketRiskManagement/Modelling $40-80k $50-90k $80-130k $90-140k $150-300k+ $160-300k+Controlling/Reporting $40-65k $40-65k $65-100k $70-110k $130-270k+ $140-270k+

ValuationGlobalMarkets $60-90k $60-90k $90-140k $100-150k $150-300k+ $155-300k+



15/32

SINGAPORE

SINGAPOREENGINEERING

SINGAPORE

ENGINEERING

ENGINEERING


Ourdedicatedengineeringrecruitmentdivisionfocusesontheplacementofengineering

professionalsfrommidtoseniorlevelacrossavarietyofcommercialsectors,includingaerospace,automotive,buildingandconstruction,chemical,electrical,energy,industrial,manufacturing,marine,oilandgas,healthcare/pharmaceuticalandsemiconductor.

MarketOverview

Energy

Hiringactivityintheenergysectorwasmoderatethroughoutthewholeyear,withSingaporefastgainingleadershipasanR&Dbaseforalternativefuelsandthenextgenerationofbiofuels.In2010cleanenergywasthekeygrowthsectorintheareasoffuelcell,solarpowerandsmartelectricgrid.

Theoilandgassectorsawminimalrecoveryin2010incomparisontotherenewableenergysector,whichsawamodestrecoverywitha

highdemandforprojectmanagersandprojectengineersintheR&Dfield.Therewasalimitedlocaltalentpoolinthisareawithcompanieshiringforeignprofessionalstofilltheskillsgap.Cleanenergywasakeygrowthsectorin2010andprofessionalswithspecificcleanenergyexperiencewerehighlysought-after.R&DcandidateswerealsoindemandinthisareaduetoarecentshiftofR&DcenterstoSingapore.

Overall,candidateswerestillcautiousaboutchangingjobs.Manyemployerstooktheirtimetoensuretheyhiredsuitablyqualifiedprofessionalswhowouldaddvaluetotheiroperations.

Chemicals

Thechemicalssectorsawamodestrecoveryin2010followingtheglobalfinancialcrisis.Therewasdemandfordownstreamprofessionals,whichincludedplantandmanufacturingmanagers,R&Dprofessionalsaswellaschemistswithafocusonadvanced

polymers.DemandwasfurtherfuelledbySingapore'spositionasthefirstchoice

locationformanufacturingandR&Dactivities.

Candidates'salaryexpectationswererealisticandwesawmodestsalaryrisesof10-15%forprofessionalsswitchingjobs.

Pharmaceutical&BiotechnologyInthefirsthalfof2010,marketconditionsremainedchallengingandcompaniescontinuedtoimplementheadcountfreezes

andredundancyprogrammes.Wesawamoderaterecoveryinthesecondhalfoftheyearwithhiringlevelssimilartothoseseeninthechemicalssector.

ManypharmaceuticalandbiotechnologycompanieswithfactoriesandmanufacturingplantsinSingaporeincreasedtheirproductioncapacityinresponsetothehigherdemandfortheirproducts,spurringdemandforR&D,plantmanagementandmanufacturing

specialists.

Candidatesalsohadfairlyrealisticsalaryexpectationsandwerelookingatpayincreasesofapproximately10-15%whenswitchingjobs.

Industrial

Theelectronics/semi-conductorindustryexperiencedbuoyantgrowthin2010dueto

anincreasedglobaldemandforelectronicproductsaftertheeconomiccrisis.Therewasastrongdemandforcandidatesinmanufacturing,operations,qualityandR&Dfunctionsandweexpectthistocontinueinto2011.

Wealsoexpecttoseehighlypositivegrowthintheaviationandaerospacesectors,particularlywiththelaunchoftheSeletarAerospacePark,whichisscheduledforcompletioninthefirsthalfof2011.Thedevelopmentwillcreate10,000new

aerospace-relatedjobs,predominantlyskilledandtechnicalpositions.

Theprecisionengineering(PE)industrysawastrongrecoveryin2010andislikelytocontinueitspositivegrowthin2011.AsakeypillarofSingapore'smanufacturingsector,thePEindustryisprojectedtogenerateatotaloutputofS$28billionby2018andweanticipateagrowingdemandfortalentinthisspace.

Outlookfor2011Theemploymentoutlookintheengineeringsectorforthesecondquarterof2011lookspositiveasmanufacturersareexpectedtoincreaseheadcounttomeetthehighervolumeofordersanticipated.Overall,themajorityofemployersexpecthiringinthesecondquarterof2011toincreaseorremainsimilartothefirstquarteroftheyear.Withinthesectortheprecisionengineering,transportengineeringandelectronicsclustershavethemostpositive

employmentoutlook,particularlyforthefirstquarterof2011.

Wealsoanticipateastrongandconstantrecoveryfortheoilandgassectorascompaniescontinuetoreplacelostheadcount,albeitatagradualpace.

Withtheeconomyshowingsignsofimprovement,manymanufacturersplanto

investinplantandmachineryinthenext12months.Theseinvestmentsaremainlytoexpandproductioncapacityofexistingproducts,replacewornoutequipmentandtomanufacturenewproducts.Thiswillleadtoacorrespondingdemandforoperations,production,qualityandserviceprofessionals.


16/32

SINGAPORE

SINGAPOREENGINEERING

SINGAPORE

ENGINEERING

ENGINEERING



SENIORENGINEER/ASSISTANTMANAGER/MANAGER

5-10YRS'EXP

DIRECTOR10+YRS'EXP

2010 2011 2010 2011

Project $100-130k $105-135k $130-220k $135-220kResearch&Development $90-130k $90-130k $130-210k $130-220kChemical $90-120k $90-120k $120-200k $120-200k

Maintenance $90-120k $90-120k $120-200k $120-200kContracts $90-120k $90-120k $120-180k $120-180kElectrical $85-115k $90-120k $116-210k $120-210kDesign $85-115k $85-115k $115-200k $120-200kMechanical $85-115k $85-115k $115-200k $120-200kConsultant(ISO/TS,SixSigma,Lean,Industrial) $85-110k $85-115k $110-210k $115-220kInstrumentation&Control $80-110k $80-110k $110-220k $115-220kTechnical $80-110k $80-110k $110-200k $115-200kEHS $80-120k $80-120k $120-220k $125-220kProcess $80-100k $80-100k $100-150k $105-150kElectronics $70-110k $75-110k $110-150k $120-160kProduct $70-110k $75-110k $110-150k $115-150kQualityAssurance $70-110k $70-110k $110-150k $115-150kService $70-110k $75-110k $110-150k $115-150kProduction/Manufacturing $65-104k $70-110k $105-150k $110-150k



17/32

SINGAPORE

SINGAPOREHUMANRESOURCES

SINGAPORE

HUMANRESOURC

ES

HUMANRESOURC

ES


OurhumanresourcesdivisionrecruitsforgeneralistandspecialistHRpositionsona

permanentandcontractbasisacrossboththefinancialservicesandcommercesectors.WespecialiseinplacingHRprofessionalswithaminimumofthreeyearsexperienceinjuniormanagementthroughtoseniordirectorlevelpositions.

MarketOverviewRecruitmentactivitypickedupinthelastquarterof2009andremainedconstant

throughout2010.Inthefirsthalfoftheyearwewereinundatedwithrequestsforin-houserecruiters,mobilityprofessionals,compensationandbenefitsspecialists,HRbusinesspartnersandlearninganddevelopmentexpertsacrossallsectors.ThiswasduetotherecoveryofmarketconfidenceintheSingaporeeconomyandanincreaseinexpansion/investmentsplansinAsiafromglobalmultinationalcorporations.

Candidatesweremoreopenandwillingtoexplorenewemploymentpossibilities,especiallyafterexperiencingalackofopportunitiesduringthefinancialcrisis.Bilingualcandidateswerehighlysought-after,particularlyforregionalpositionswithcoverageofChina.Thesupplyoflocally-basedprofessionalswasinsufficienttomeetthisdemand.However,wesawcandidatesfromEuropeandtheUSrelocatingtoSingaporefor

shortstints,whichhelpedtomakeupforthelocaltalentshortage.

Employeeretentionwasakeyissueduring2010.Generally,companiesthatfocusedontalentmanagementduringthefinancialcrisiswerebetterpositionedtoretaintheirkeystaff.Themarketwaslargelyemployeedriven,withthebestcandidatesreceivingmultiplejoboffersandcounter-offersfromtheirexistingemployers.Averagesalaryrises

rangedbetween10-25%forcandidateswhowerelookingtoswitchjobs.

Financial&ProfessionalServices

Employersweregenerallybullish,optimistic

andmoreopentohiringforeigncandidates,especiallythosewithtransferableskillsetswhopossessedarelevantunderstandingofthebusiness.

Theprofessionalservicessectorwentthroughaconsolidationphasewiththemergingofanumberofconsultancyfirms.Recruitmentactivitiesthereforecametoastandstill,exceptforcriticalreplacementpositions.However,the

demandforin-houseHRserviceswithinthefinancialservicessectorwasstable.

Quarterthreesawaslightslowdownassomefinancialservicesorganisationsexceededtheirrecruitmentbudgetsfortheyearandwerewaitingtoseehowplansfor2011wouldunfold.

Commerce&Industry

Commercialindustries,includingFMCG,

pharmaceutical,IT&Tandthelogisticssectors,wereactivelyhiringinthefirsthalfoftheyear.Mostdemandintheseareaswasfromcompanieslookingtoreplacestafftheyhadlostduringthedownturn.Hiringlevelsinthemanufacturingandsemiconductorsectorsalsostartedpickingupin2010.

Seniorleveldirectors,businesspartners(bothstrategicandhands-on),compensation

andbenefitsspecialistsandlearninganddevelopmentexpertswhocouldup-skilltomanageriallevelwerehighlysought-after.Asaresultofincreasedresourcesandbudgets,organisationsrenewedtheirfocusonsalesdevelopmentskills,equippingtheirsalesprofessionalswiththerighttoolstowinmarketshare.

Contract

Therewasfairlylowdemandinthefirsthalf

oftheyearforHRcontractprofessionalsinthefinancialservices,IT&TandFMCGsectorsduetoagradualrecoveryfromtheglobal

financialcrisis.Inthesecondhalfoftheyear,firmsstartedtorecruitingreatervolumes,

particularlyincertainspecialistareas,suchascompensationandbenefitsandpayroll.TherewasalsoastrongdemandforoperationsspecialistsandHRcontractorswhowereskilledinprojectmanagementandprojectanalysis.

Outlookfor2011Weanticipatehiringlevelswillremainhighin2011asorganisationsstarttodeveloptheir

nextgenerationofHRleaders.Weanticipateincreasedfocusonretaining'GenerationY'professionals(whoarerecognisedasbeingmorelikelytoswitchjobsregularly).ThelackofHRcandidatesatthemiddlemanagementlevelremainsachallengeformostorganisations.Asexpansionplanscontinueweexpectthemarketin2011toremainstronglycandidatedriven.

Weexpectcompensationandbenefits

professionalswiththeabilitytocommunicateeffectivelyandengagewithlinemanagerstobeinhighdemand.WealsoanticipatethatlearninganddevelopmentprofessionalsandHRbusinesspartnerswillbesought-after.Candidateswithstart-up,mergerandacquisitionsexperience(fromanHRperspective)willalsobehighlysought-afterasweforeseemoreacquisitionstakingplacein2011.Additionally,HRprofessionalswith

workexperienceinAsiawhoarecapableoflocalisingglobalinitiativeswillbeinhighdemand.Thecommercialsectorislikelytoexperiencehiringdemandacrossallsectorsduetonaturalstaffattrition.

Averagesalaryincreaseswillstabiliseataround15%,althoughfirmswillpayapremiumforhighlysought-aftercandidateswithnicheskillsets(e.g.compensationandbenefits).


18/32

SINGAPORE


SINGAPORE

HUMANRESOURC

ES

HUMANRESOURC

ES



3-6YRS'EXP 6-12YRS'EXP 12+YRS'EXP

2010 2011 2010 2011 2010 2011

Commerce&IndustryHRGeneralist/BusinessPartner $55-110k $55-110k $110-180k $110-180k $180-400k+ $180-400k+Compensation&BenefitsSpecialist

$55-110k $55-110k $110-180k $110-180k $180-300k+ $180-350k+

OrganisationalDevelopment

Specialist

$55-90k $55-90k $90-250k $90-250k $250-320k+ $250-320k+

Training&DevelopmentSpecialist

$55-90k $55-90k $90-165k $90-165k $165-250k+ $165-250k+

RecruitmentSpecialist $50-75k $50-75k $75-120k $75-120k $120-250k+ $120-250k+HRISSpecialist $45-75k $45-75k $75-120k $75-120k $120-170k+ $120-170k+MobilitySpecialist $40-60k $40-60k $60-95k $60-95k $95-145k+ $95-145k+PayrollSpecialist $35-50k $35-50k $50-80k $50-80k $80-110k+ $80-110k+

Banking&FinancialServicesHRGeneralist/BusinessPartner $55-115k $55-115k $115-185k $115-185k $185-400k+ $185-400k+Compensation&BenefitsSpecialist

$60-125k $60-125k $125-215k $125-215k $215-300k+ $215-350k+

OrganisationalDevelopmentSpecialist

$55-90k $55-90k $90-250k $90-250k $250-320k+ $250-320k+


$55-90k $55-90k $90-170k $90-170k $170-250k+ $170-250k+

RecruitmentSpecialist $55-85k $55-85k $85-140k $85-140k $140-275k+ $140-275k+HRISSpecialist $50-75k $50-75k $75-160k $75-160k $160-200k+ $160-200k+MobilitySpecialist $40-70k $40-70k $70-120k $70-120k $120-190k+ $120-190k+PayrollSpecialist $35-50k $35-50k $50-80k $50-80k $80-100k+ $80-100k+

NB:Figuresarebasicsalariesandexcludeemployer'sCPFcontribution.Figureswillvarydependingonwhethertheincumbentisholdingaregional/globalrole.


19/32

SINGAPORE


SINGAPORE

HUMANRESOURC

ES

HUMANRESOURC

ES


ROLE CONTRACTSALARYPERANNUM$SGD

3-6YRS'EXP 6-12YRS'EXP 12+YRS'EXP

2010 2011 2010 2011 2010 2011

Commerce&IndustryHRGeneralist/BusinessPartner $40-110k $40-110k $110-180k $110-180kCompensation&BenefitsSpecialist

$55-110k $55-110k $110-180k $110-180k

OrganisationalDevelopment

Specialist

$55-90k $55-90k $90-200k $90-250k


$45-90k $45-90k $90-130k $90-165k $130-180k $130-180k

RecruitmentSpecialist $45-75k $45-75k $75-120k $75-120k $120-250k $120-250kHRISSpecialist $45-85k $45-85k $85-120k $85-120k $120-170k $120-170kMobilitySpecialist $40-65k $40-65k $65-95k $65-95k $95-145k $95-145kPayrollSpecialist $35-55k $35-55k $55-90k $55-90k $90-110k $90-110k

Banking&FinancialServicesHRGeneralist/BusinessPartner $55-115k $55-115k $115-185k $115-185kCompensation&Benefits

Specialist

$60-125k $60-125k $125-215k $125-215k

OrganisationalDevelopmentSpecialist

$55-90k $55-90k $90-250k $90-250k $250-320k $250-320k


$55-90k $55-90k $90-170k $90-170k $170-250k $170-250k

RecruitmentSpecialist $55-85k $55-85k $85-160k $85-140k $160-200k $140-275kHRISSpecialist $55-85k $55-85k $85-160k $85-160k $160-200k $160-200kMobilitySpecialist $40-70k $40-70k $70-120k $70-120kPayrollSpecialist $35-55k $35-55k $55-80k $55-80k $80-110k $80-110k



20/32

S S


21/32

SINGAPORE

SINGAPOREINFORMATIONTECHNOLOGY

SINGAPORE

INFORMATIONTEC

HNOLOGY

INFORMATIONTEC

HNOLOGY


ROLE

PERMANENTSALARYPERANNUM$SGD

CONTRACTRATEPERDAY$SGD

2010 2011 2010 2011

ChiefInformationOfficer/ChiefTechnologyOfficer $300-350k+ $320-400k+ProgrammeManager $180-350k $200-350k $1100-1400 $1100-1500Director-IT $180-300k $200-320k $900-1400 $900-1400Director-ServiceDelivery $180-300k $200-350k $750-1200 $750-1300

Director-ITRisk&Compliance $160-280k $180-280k $700-1000 $700-1100Manager-IT $100-130k $100-150k $800-1000 $800-1100Manager-Development $130-150k $150-200k $750-1000 $750-1100Manager-ApplicationSupport $100-140k $140-200k $800-1000 $900-1100Manager-Testing/QA $130-150k $150-180k $500-750 $500-750Manager-MIS $80-130k $100-120k $600-800 $600-800Manager-ITRisk&Compliance $100-150k $100-180k $450-650 $500-700Manager-InfrastructureServices $130-150k $150-200k $700-1000 $700-1100Manager-DataCentre $130-150k $130-180k $600-900 $600-900Manager-HelpDesk $100-150k $120-160k $450-650 $450-700Manager-ServiceDelivery $130-160k $150-200k $500-700 $600-750

SeniorSolutionsManager-IT&T(10+yrs'exp) $160-200k $180-230kTechnicalSalesManager(8+yrs'exp) $140-200k $150-220kSoftwareArchitect(10+yrsexp) $130-200k $150-220k $700-1000 $700-1000SolutionArchitect $130-200k $150-250k $500-800 $550-900ProjectManager(5+yrsexp) $120-150k $120-180k $550-1000 $600-1100ProjectManager(3-5yrsexp) $80-120k $80-120k $400-500 $400-500ERPProjectManager(7+yrsexp) $100-150k $120-180k $800-1200 $800-1300ERPConsultantFunctional(5-8yrsexp) $90-130k $100-150k $500-900 $500-900SeniorConsultant(8+yrsexp) $100-150k $120-180k $500-750 $550-850Consultant(3-5yrsexp) $80-120k $80-140k $300-500 $300-550

Pre-SalesConsultant(8+yrsexp) $150-180k $160-200kPre-SalesConsultant(5-8yrs'exp) $120-150k $120-160kInfrastructureSecuritySpecialist $90-120k $100-180k $450-650 $450-700EAIMiddlewareSpecialist $80-120k $80-130k $350-550 $350-600BusinessAnalyst(5+yrsexp) $80-110k $120-170k $350-600 $350-600BusinessAnalyst(3-5yrsexp) $70-120k $80-120k $300-400 $300-400SystemsAnalyst(5+yrsexp) $70-100k $80-100k $300-400 $300-400


SI

SINGAPORESI


22/32

INGAPORE

SINGAPOREINFORMATIONTECHNOLOGY

INGAPORE

INFORMATIONTEC

HNOLOGY

INFORMATIONTEC

HNOLOGY


ROLE



2010 2011 2010 2011

ApplicationSupportAnalyst(5+yrsexp) $70-120k $80-120k $350-500 $350-500ApplicationSupportAnalyst(3-5yrsexp) $60-90k $70-90k $250-350 $250-350SoftwareEngineer-Java,.NET,C++(5+yrsexp) $80-130k $80-150k $300-400 $300-400SoftwareEngineer-Java,.NET,C++(3-5yrsexp) $60-90k $50-90k $200-300 $200-300

MainframeAnalystProgrammer(6+yrsexp) $70-90k $60-80k $200-225 $200-225MainframeAnalystProgrammer(3+yrsexp) $60-80k $50-70k $175-200 $175-200Tester(5+yrsexp) $60-90k $70-100k $275-400 $275-400SystemsAdministrator(5-8yrsexp) $80-110k $80-120k $275-425 $275-425SystemsAdministrator(3-5yrsexp) $60-90k $70-90k $225-300 $225-300DatabaseAdministrator(5-8yrsexp) $80-110k $80-120k $325-425 $325-425DatabaseAdministrator(3-5yrsexp) $60-90k $60-90k $200-300 $200-300NetworkSupportAnalyst(5+yrsexp) $70-120k $80-120k $300-450 $300-450CapacityPlanningEngineer(3-5yrsexp) $60-90k $60-90kHelpDesk/DesktopSupport(5+yrsexp) $70-100k $60-100k $200-275 $200-275


SI

SINGAPORESI


23/32

NGAPORE

SINGAPORELEGAL

NGAPORE

LEGAL

LEGAL


OurlegalrecruitmentteaminSingaporeworksonbothcontingentandretainedassignments

andspecialisesinplacingjuniortoseniorlevellegalprofessionalsintobanksandfinancialinstitutions,multinationalcorporationsandleadinglegalpractices.Ourtalentnetworkincludeslocallyandinternationallyqualifiedlawyerswithspecialisationsacrossavarietyofindustries.

MarketOverview

FinancialServices

Atthebeginningof2010,weobservedagradualincreaseinhiringactivityastheeconomybeganitssteadyrecovery.Recruitmentlevelsincreasedinthesecondandthirdquarterasnewpositionswerecreatedandfirmssoughttofillreplacementpositionsthathadbeenvacatedduringtheglobalfinancialcrisis.

DuetochangesinUSregulations,wesawademandforin-houselawyerswithinfinancial

services,particularlyinthederivativessector.Legallyqualifiedcandidateswithexperienceincommodities,documentations/ISDAnegotiations,creditandprivatewealthwerealsohighlysought-after.

Asaresultofincreasedhiringlevelswithinthefinancialservicesmarketinthesecondhalfoftheyear,candidateswerelookingatreceivingsalaryrisesofupto20%whenswitchingjobs.

PrivatePractice

Recruitmentactivitywithintheprivatepracticesectorremainedsubduedasthesectorcontinueditsslowrecoveryfromtheeconomiccrisis.Organisationsrevampedremunerationstructurestoattracttoptalent,withlocalfirmsreplicatingoffersofhigherbase-to-bonussplitsmadebyinternationalfirms.

CorporateIn-house

Thecorporatein-housemarketsawrelatively

lowlevelsofrecruitmentactivitythroughout2010.WithSingaporefastbecomingahubforAsiaPacific,however,therewasanotabledemandforqualifiedlawyersintheIT,manufacturingandFMCGsectors.Languageskillswereparticularlyvaluedandthehighbarrierstoentryresultedinaninsufficienttalentpool-wesawahugeappetiteforcandidateswhowerelocallyqualified.

Outlookfor2011

Weexpectamorepositiveemploymentoutlookin2011withincreasedhiringbudgetsinplaceasorganisationspreparethemselvesforcontinuedeconomicrecovery.Singaporecontinuestobeanattractivelocationasaregionalhub,particularlyforglobalorganisationslookingtotapintotheburgeoningdevelopingmarkets.InlinewiththisliberalisationoftheSingaporelegalmarket,weanticipateincreaseddemandfor

legalprofessionalsacrosstheprivatepracticeandin-housemarkets.

Lawyersinthefinancialservicesmarketwillcontinuetobeindemand,withanticipatedgrowthintheprivatewealth,ISDA,arbitration,privatebankingandcorporatefinancesectors.AsSingapore'simportanceasaglobalandregionalwealthmanagementcentrecontinuestoincrease,weexpectprivatebankinglegal

teamstogrow,withfinancialinstitutionsestablishingorexpandingtheirlegalfunctiontomeettheneedsofthebusiness.

Hiringactivityinthecorporatein-housesectorislikelytoremainrelativelysubdued,withmanyfirmsattemptingtolocalisepackagestoreducecost.KeysectorsthatmayexperiencesomegrowthincludeIT&T,manufacturing,FMCGandpharmaceuticals.

Mandarin-speakingcandidateswiththeabilitytodraftdocumentsinChinesewillbehighly

sought-afterandthereforeabletocommandapremium.

Inanticipationofhigherrecruitmentactivityin2011,weexpectstaffretentiontobeanareaoffocusacrossthelegalindustry.Beyondmonetaryincentives,organisationsarelookingintoothercreativestrategiessuchasofferinglifestylebenefits,flexibleworkschemestopromoteafamilyfriendlyenvironmentandsabbaticalleave.

SIN

SINGAPORESIN


24/32

NGAPORE

SINGAPORELEGAL

NGAPORE

LEGAL

LEGAL



ANALYST/ASSOCIATE MANAGER/AVP VICEPRESIDENT/DIRECTOR

2010 2011 2010 2011 2010 2011

FinancialServices

LegalInvestmentBanking/Derivatives $40-80k $60-120k $80-160k $100-180k $160-350k $180-450kInvestment/WealthManagement $40-75k $60-120k $75-160k $100-170k $160-350k $170-350k

Commerce&PrivatePractice

LegalIntellectualProperty&Technology

$50-95k $60-110k $95-180k $110-200k $180-380k $160-350k

Corporate&Commercial $50-100k $60-110k $100-185k $110-200k $185-380k $160-350kLitigation&DisputeResolution $50-100k $60-110k $100-180k $110-200k $180-380k $160-350kFinancialServices $50-100k $60-110k $100-180k $110-180k $180-380k $140-300kCorporateRealEstate $50-90k $60-100k $90-165k $100-200k $165-380k $140-350k


SIN

SINGAPORESIN


25/32

NGAPORE

SINGAPORESALES&MARKETING

CONSUMER

NGAPORE

SALES&MARKETIN

G-CONSUMER

SALES&MARKETIN

G-CONSUMER


Ourconsumersales&marketingdivisionspecialisesinthepermanentandcontract

recruitmentofmidtoseniorlevelprofessionalsacrossalldisciplineswithinfinancialandprofessionalservices,FMCG,consumerelectronics,pharmaceuticalsandhealthcare,media,retail,hospitality,leisureandtravel.

MarketOverview

FinancialServicesSalesandmarketingrecruitmentactivityacrossfinancialservicebusinesseswashighthroughout2010,withsignificanthiringinquarterstwoandthree.Therewasaparticulardemandformidtoseniorlevelrolesacrossconsumerbanking.Marketinganalytics,productmanagementandportfoliomanagementwereskillsetsindemandforbothreplacementpositionsandnewly-createdroles.Organisationsweremoreopentohiringforeigncandidatestofillskillgapsduetothelimitednumberofcandidateswiththenicheskillsrequiredinthesespecialisedareas.

FMCG

RecruitmentdemandremainedhealthyasFMCGbusinessesinvestedandgrewagain.Businessesrecruitedkeyaccountmanagers,distributormanagersandlocalsalesprofessionals(e.g.keyaccountsalesandregionalmarketingpositions).

Thecompetitionforhigh-calibre,sector

experiencedsalesprofessionalsincreasedascandidateswereattractedtorolesoutsideoftheindustry.ManyFMCGorganisationspromotedinternalcandidatestofillthegapscreatedbythesemovesandwereunwillingtoconsiderprofessionalsfromoutsidethesector.

Healthcare

Therewerehighlevelsofrecruitmentactivitywithinthehealthcaresectorwithstrongdemandforregionalmarketingpositions

(e.g.regionalmarketingmanagersandregulatoryaffairsmanagers).Candidatessalaryexpectationsalsoincreasedasmany

marketingprofessionalshadbeensubjecttopayfreezesandreceivedlimitedvariable

bonusesduringtheglobalfinancialcrisis.

Tocompensateforthelimitednumberofmarketingandsalescandidatesavailable,employersweremoreopentoconsideringstronglocally-basedcandidateswithlocalworkingexperienceaswellasforeigncandidateswithrelevanttransferableworkexperience.

Retail

Recruitmentcontinuedthroughout2010acrosstheretailsectoraswewitnessedanincreaseddemandformid-levelrolessuchasmarketingmanagers,brandmanagersandareamanagers.Alargeproportionofhiringactivitycamefromluxuryfirms,duetolargebrandssettinguplocal/regionalsubsidiaries.

Althoughcandidatesweremoreopentoexploringnewopportunities,theywerealso

moreselectiveinwhichrolestheyappliedforduetotheincreasedvacanciesavailable.Theshortageoftalentedmarketingandsalesprofessionalsresultedincandidatesexpectingsalaryincreasesofbetween20-25%.Professionalswithretailoperationsexperiencealsocommandedasalarypremiumduetoaskillsshortage.Tofilltheskillsgap,employerswereopentohiringcandidatesfromotherindustries,suchasthehospitality

sector.

Outlookfor2011

Aswemovetowardsgreatereconomicrecoveryin2011,weexpecttoseeaconstant,gradualincreaseinhiringactivitywithinthefinancialservices,chemicalandoilandgassectors.WealsoexpecttoseemorereplacementhiringintheFMCGandhealthcarespaceascandidatesfromthesesectorscontinuetobehighlysought-afterby

otherindustries.

WeanticipateacontinuedtrendofsmallercompaniessettingupoperationsinSingapore.

Thesenewbusinessesarelikelytotargetcandidatesfromthemoreestablishedcompanies.Wealsoanticipatedemandforprocess-orientedrolestoimproveefficiencyandincreaseproductivity.Thiswillincluderegionalmarketingrolesorpositionsspecialisinginsalesforceeffectivenessormarketingexcellence.

Rolesindemandwithinthefinancialservicessectorarelikelytoincludeproductmanagementroles,usageandloyaltymarketing.WithintheFMCGsector,weexpecttoseedemandforsalesandkeyaccountpositionsaswellasshopperinsightsrolestoincreaseandretainmarketshare.

CandidateswithregionalexperienceandstrongMandarinlanguageskillsetswillbehighlysought-afterasbusinessespushforwardwithexpansionplansinGreaterChina.

Weexpectsalaryincreasesforcandidateschangingjobstobearound20-30%,dependingonthelevelandscopeoftherole.

SIN

SINGAPORESIN


26/32

GAPORE


CONSUMER

GAPORE

SALES&MARKETIN

G-CONSUMER

SALES&MARKETIN

G-CONSUMER


ROLE PERMANENT

SALARYPERANNUM$SGD

2010 2011

GeneralManager/ManagingDirector(6+yrsexp) $200-300k+ $200-300k+Sales&MarketingDirector(8+yrsexp) $150-230k+ $150-230k+MarketingDirector(6+yrsexp) $150-220k+ $150-220k+SalesDirector(8+yrsexp) $140-220k+ $140-220k+MarketingResearchDirector(6+yrsexp) $120-200k $120-200k+

AccountDirector(8+yrsexp) $140-200k $140-200k+BusinessDevelopmentManager(8+yrsexp) $120-200k+ $120-200k+PublicRelationsDirector(8+yrsexp) $120-180k $120-180k+MarketingCommunicationsManager(6+yrsexp) $110-180k+ $110-180k+MarketingResearchManager(4-5yrsexp) $80-100k $80-100kSales&MarketingManager(4-7yrsexp) $80-120k $80-120kMarketingManager(4-5yrsexp) $80-100k $80-100kSalesManager(4-5yrsexp) $70-100k $70-100kPublicRelationsManager(4-7yrsexp) $70-120k $70-120kChannelManager(5-8yrsexp) $80-120k $80-120kBusinessDevelopmentManager(4-7yrs'exp) $80-110k $80-110k

DirectMarketingManager(5+yrsexp) $80-120k $80-120kBrandManager(4+yrsexp) $80-100k $80-100kProductMarketingManager(5-8yrsexp) $70-120k $70-120kMarketingCommunicationsManager(4-5yrsexp) $70-100k $70-100kVisualMerchandisingManager(4-5yrsexp) $70-100k $80-100kTradeMarketingManager(4-5yrsexp) $70-100k $70-100kAccountManager(4-5yrsexp) $70-90k $70-90kAssistantBrandManager(3-4yrsexp) $50-80k $50-80k


SING SINGAPORE

SING


27/32

GAPORE


IT&T/INDUSTRIAL

GAPORE

SALES&MARKETIN

G-IT&T/INDUSTRIAL

SALES&MARKETIN

G-IT&T/INDUSTRIAL


Oursales&marketingdivision(IT&T/Industrial)specialisesinthepermanentrecruitment

ofmidtoseniorlevelsalesandmarketingprofessionalsacrossthefollowingsectors:aerospace,automotive,buildingandconstruction,chemical,electrical,energy,industrial,informationtechnologyandtelecommunications,manufacturing,marine,oilandgasandsemiconductor.

IT&Telecommunications

MarketOverview

ThesalesfunctionwithintheIT&Tindustryhasevolvedfromatransaction-based(boxshifting)focustoonethatismoreintelligentandsolution-drivenin2010.Thiscreatedahugedemandforsolutionsalespeoplewhounderstandcustomersrequirements,objectivesandchallengesandhavetheabilitytotailorasolutionthatcanincludemultipletechnologiesandpartners.

Wealsowitnessedahighdemandforsales

professionalswithanoutsourcingandmanagedservicesbackground,particularlynetworkingandsecurityspecialists.

DemandformarketingcandidatesintheIT&Tsectorincreasedinthesecondhalfoftheyear.Therewasafocusonmarketingcommunicationsandchannelmarketingroles,primarilywithinSouth-EastAsiaasorganisationslookedtodevelopandlaunchchannelmarketstrategiesintheseemergingmarkets.

In2010,growthinrecruitmentactivitypredominantlycamefromthetelecommunicationssector.Manyofthesebusinessesincorporatednetworking,securityandIPtelecommunicationsintotheirproductofferingandwerebuildinguptheresourcestodeliverthesesolutions.

Inreactiontoorganisationsrealigningtheirsalesdivisionsandmovingtheirsalesteamsaccordingtoindustrysectors,theIT&T

industrysawanincreaseddemandfortalentwithinmorecommonsectorssuchasfinancial

servicesinstitutions,transportation,logistics,manufacturingandgovernment/publicsector.

Overall,mosthiringtookplaceatthemidtoseniorlevelswithsalariesrangingfromS$100-250kperannum.Thiswaslargelyduetocompaniesfocusingonhiringsalesprofessionalswhowouldhaveadirectimpactonincreasingrevenue.

Outlookfor2011

WithtraditionaltelecommunicationcompaniesincreasinglycompetingwithITserviceproviders,weexpecttoseeastrongpoolofsalesprofessionalswithtechnologyandtelecommunicationsexpertisein2011.Withanincreasedtalentpool,organisationswillhavemorechoiceindeterminingwhichmarketstotargetandwheretoconcentratetheirsalesresourcestoensuresuccessinahighlycompetitiveandcomplexmarketplace.

Industrial/Energy/Chemicals

MarketOverview

Withintheindustrial,oilandgasandchemicalsectors,therewasgreaterdemandforsalesandmarketingprofessionalsin2010aseconomicconditionsimproved.Asmarketconfidenceincreased,businessespushedforwardwiththeirhiringplansandincreasedtheirsalesforceheadcount.GrowthwasdrivenbythechangeoffocusformanycompaniesfromtheEuropeanmarkettotheAsiaPacificmarket,asbusinesseslookedtoleverageopportunitieswithintheregion.

Withintheindustrialmarket,professionalswithsalesandmarketingexperienceintheindustrialequipmentsectorweresought-afterduetoincreaseddemandforenginesandpowergenerators.Marketingandsalesprofessionalswerealsohighlysought-after

acrossindustriessuchasaerospace,automotive,marine,buildingandconstruction,power,agricultural,militaryandmining.

Hiringactivityintherenewableenergymarketalsoincreasedasmoreprojectswere

implementedwithintheAsiaPacificregion.Morecompaniesinthesolar,windandwatersectorswerealsoattemptingtoestablishandgrowtheirbusinessesinSingaporeandAsia.However,therewasalimitedtalentpoolintherenewablesindustryandemployersfacedchallengesrecruitinghigh-calibreandexperiencedcandidates.

Althoughtheoilandgasandchemicalindustriescontinuedtobebuoyant,employersremainedcautiousaboutincreasingtheirheadcount.Thiswasprimarilybecauseitisstillhighlydependentonthenumberofprojectsthatareavailableandtheseindustriesdidnotmakeasmanystaffcutbacksasothersduringthefinancialcrisis.

Overall,therewasahealthyincreaseinthedemandforsalesprofessionalsacrossallsectorsascompanieslookedtoleverageon

thestrongAsiaPacificmarket(especiallyIndiaandChina)andincreasetheirglobalrevenue.CandidateswithregionalworkexperienceacrosstheAsiaPacificregionwerehighlysought-afterandcontinuedtocommandasalarypremium.

Outlookfor2011

Weexpecttoseeagradualincreaseinthehiringofsalesandmarketingprofessionalsin2011withintheoilandgasandchemicalsectors.Asoilpricesarepredictedtoeitherremainstableorincreaseslightly,hiringlevelsarelikelytofollowthistrend.

SING SINGAPORE

SING


28/32

GAPORE


IT&T/INDUSTRIAL

GAPORE

SALES&MARKETIN

G-IT&T/INDUSTRIAL

SALES&MARKETIN

G-IT&T/INDUSTRIAL


ROLE PERMANENT

SALARYPERANNUM$SGD

2010 2011

GeneralManager/ManagingDirector(6+yrsexp) $200-300k+ $190-300k+Sales&MarketingDirector(8+yrsexp) $150-200k+ $150-200k+MarketingDirector(6+yrsexp) $150-200k+ $150-200k+SalesDirector(8+yrsexp) $140-200k+ $140-200k+MarketingResearchDirector(6+yrsexp) $140-200k $140-200k+AccountDirector(8+yrsexp) $130-180k $130-200k+BusinessDevelopmentManager(8+yrsexp) $130-180k+ $120-180k+PublicRelationsDirector(8+yrsexp) $130-190k $130-200k+MarketingCommunicationsManager(6+yrsexp) $120-160k+ $110-170k+CallCentreManager(8+yrsexp) $100-115k $100-120kMarketingResearchManager(4-5yrsexp) $90-110k $90-120kSales&MarketingManager(4-7yrsexp) $85-110k $85-120kMarketingManager(4-5yrsexp) $80-110k $80-120kSalesManager(4-5yrsexp) $80-110k $80-120kPublicRelationsManager(4-7yrsexp) $80-110k $80-130kChannelManager(5-8yrsexp) $80-110k $80-120k

BusinessDevelopmentManager(4-7yrs'exp) $80-120k $80-120kDirectMarketingManager(5+yrsexp) $80-110k $80-115kProductMarketingManager(5-8yrsexp) $70-120k $70-120kAftersalesManager(5-8yrsexp) $70-110k $70-120kMarketingCommunicationsManager(4-5yrsexp) $70-110k $70-115kAccountManager(4-5yrsexp) $70-90k $70-100kSalesEngineer(3-4yrsexp) $40-60k $40-65k


SING SINGAPORE

SING


29/32

GAPORE

SINGAPORESECRETARIAL&SUPPORT

GAPORE

SECRETARIAL&SUP

PORT

SECRETARIAL&SUP

PORT


Oursecretarial&supportdivisionspecialisesintheplacementofsecretarialandbusiness

supportstaffintothefinancialservicesandcommercialsectors.Thedivisionfocusesonpermanentandcontractrecruitmentandcoversabroadrangeofrolesincluding:

Administrators

Callcentremanagers

Customerservicerepresentatives

Dataentryclerks

Eventcoordinators

Executiveassistants

Investmentbankingsecretaries

Legalsecretaries

Medicalsecretaries

Officemanagers

Personalassistants/seniorsecretaries

Projectcoordinators

Receptionists

Switchboardoperators

Teamsecretaries

Tradingfloorsecretaries

MarketOverview

Thedemandforsecretarialandsupportstaffinboththefinancialservicesandcommercesectorswasremarkablyhighinthefirsthalfof2010.Mostcompaniesdecidedthatexecutivesundertakingtheirownadministrativeduties(astheyhaddoneduringtheleanertimes)madelittlebusinesssense.Organisationsthatdidnotpreviouslypossesslargesecretarialteamsalsohiredaggressivelytomeetincreasedworkloadsfollowingheightenedactivityinthemarket.

Atthebeginningoftheyear,asfirmssignedoffincreasedbudgetsandrecruitedseniorlevelhires(especiallyfromabroad),theyrequiredsecretarialstafftosupporttheseprofessionals.Thisfuelleddemandforexperiencedsecretaries,particularlythosewhohadoverseasexperience.Manyemployerswere

alsointerestedintheknowledgetheseprofessionalscouldbringtotheroleandin

theirabilitytoadaptquicklytoaninternationalandmulti-culturalenvironment.

Thefourthquarteroftheyearsawaslowdowninsecretarialandsupporthireswithinthefinancialservicesindustryascandidatesanticipatedtheirbonusesandwerereluctanttomove.Additionally,annualhiringbudgetswereutilisedmorequicklythanexpectedduetotheaggressiverecruitmentactivitiesearlierintheyear,sorolesrecruitedforinthelastquarterweremainlyreplacementhires.

Inthecommercesector,particularlywithinprofessionalservices,hiringlevelsforsupportstaffremainedhighthroughouttheyearasasubstantialnumberofthesecompaniespaidoutmid-yearbonuses.ThisresultedincontinuedcandidatemovementfromSeptemberonwards.However,asthecommercemarketrecoveredmoreslowelythanthefinancialservicessectortherewerenomajorfluctuationsinhiringlevels

throughouttheyear.

Thedemandforlegalsecretarieswasparticularlyhighduringtheyear.Companiesinthelegalsectorofferedattractivesalariestoattractandsecurethebestcandidatesinthisspecialistarea.

Bothemployersandemployeesremainedcautiousatthebeginningof2010andthiswasreflectedinconservativesalarylevels.However,salaryexpectationsinthelastquarterof2010increasedby10-15%ascandidateswerereluctanttomovebeforebonuspayouts.Thisconsequentlyledtoacandidateshortmarket(particularlyforseniorsupportstaff)and,asaresult,professionalsgainedmorebargainingpowertodictatetheirsalaries.

Outlookfor2011

Atthebeginningof2011,weanticipatea

strongdemandforexperiencedsecretarialsupportprofessionalsacrossbothfinancialservicesandcommercesectorsasnewhiringbudgetsaresignedoff.Wealsopredictahighlevelofmovementinthefinancialservicessectortowardstheendofthefirstquarterafterbonuspayouts.Companieswithstreamlinedrecruitmentprocesseswillbebestplacedtosecurethebestcandidates.

WiththeuncertaintyoftheEuropeanandUSmarkets,wealsoenvisageanincreaseinthenumberofcompanieslookingtoexpandandbasetheircompaniesinSingapore.Thiswillhaveadirecteffectonhiringactivity,particularlyforsupportstaffwithexperienceinsettingupnewoperations.

Candidateswhoareabletoworkinaninternationalenvironmentandcanadaptquicklytodifferentworkingpracticesand

cultureswillbehighlysought-after.Salarylevelsareexpectedtoincreaseby10%acrosstheboard,withpayinthecommercesectorbecomingmorealignedwiththoseinbankingandfinancialservices.

Employeeretentionwillbethemainchallengeforcompaniesin2011astheirappetitetohireincreasesandcandidateshaveawiderchoiceofroles.Companiesthatcanofferadditionalperks,suchasflexitime,jobsharing,alternativehealthcoverandgymmemberships,willbeabletoattractandretaintopqualitycandidates.Otherretentionstrategiesincludejob-relatedtrainingandtheopportunityforcandidatestogetmoreinvolvedinthebusiness.

SINGA SINGAPORE

SINGA


30/32

APORE

SINGAPORESECRETARIAL&SUPPORT

APORE

SECRETARIAL&SUP

PORT

SECRETARIAL&SUP

PORT


ROLE



2010 2011 2010 2011

OfficeManager $60-96k $66-96k $300 $300SeniorSecretary $60-78k $60-78k $275 $275InvestmentBankingSecretary $48-66k $54-66k $250 $250CallCentreManager $45-60k $45-60kPersonalAssistant $42-66k $42-66k $200 $200ExecutiveAssistant $42-66k $42-66k $200 $200LegalSecretary $36-60k $48-60k $220 $220ConfidentialSecretary $36-60k $48-60k $210 $210MedicalSecretary $36-54k $36-54kProjectCoordinator $33-46k $33-46kTeamSecretary $30-54k $30-54k $180 $180EventsCoordinator $26-34k $26-34kTradingFloorSecretary $24-46k $42-54k $160 $160Administrator $24-42k $24-42k $150 $150CustomerServiceRepresentative $21-30k $21-30k

Receptionist $21-30k $21-30k $125 $125DataEntryClerk $18-22k $18-22kSwitchboardOperator $15-18k $15-18k


SINGA SINGAPORE

SINGA


31/32

APORE

SINGAPORESUPPLYCHAIN,PROCUREMENT&LOGISTICS

APORE

SUPPLYCHAIN,PRO

CUREMENT&LOGISTICS

SUPPLYCHAIN,PRO

CUREMENT&LOGISTICS


MarketOverview

Thefirstquarterof2010sawthesupply

chain,procurementandlogisticsindustriescontinuingtheirrecoveryfromtheendofthepreviousyear'srecession.Asaresult,mostfirmsremainedcautiousaboutaddingnewheadcount.AftertheChineseNewYear,however,wesawasurgeinhiringactivity,largelyduetocandidatesactivelyseekingnewopportunitiesafterreceivingtheirannualbonusesandsalaryincrements.

SkillsinDemand

AsmanycompanieslookedtoSingaporeasaregionalorevenglobalhub,wesawincreasedrequirementsforpositionswitharegionalremittofulfilbusinessneeds.Supply/demandplanning,tradeandcustomscompliance,customerservice,warehousing,operations,supplychainmanagementandprocurement(direct/indirect/IT)wereamongthekeyskillsindemand.

Thebankingandfinancialservicessectorreboundedquicklyfromthefinancialcrisisandstartedactivelyhiring,particularlyinprocurementpositions.

Themanufacturingandsemiconductorindustriesalsoincreasedtheiroperationsandrecruitmentactivitiesinresponsetomarketgrowth.Afteraseriesofmergersandacquisitionsintheprevioustwoyears,manycompanieswerere-hiringinanticipationofgrowthplansin2010and2011.Strongsupplychain,logisticsandprocurementprofessionalsthusremainedhighlysought-afterasdemandbegantoexceedsupply.

TheFMCGsectorwastheleastaffectedbythemarketdownturnandhiringlevelsremainedrelativelystablein2010.Wecontinuedtoseeahealthydemandforsupplychainandlogisticsprofessionals,particularlyin

demandplanning.

Inshipping/thirdpartylogistics,wesawagradualrecoveryamongbusinessesin2010

afterthesectorwassignificantlyaffectedbythedownturnin2009.Althoughhiringlevelsmighttakemoretimetopickupthaninothersectors,marketsentimentwasgenerallypositivein2010.

Employers'sentimentsbecamemoreoptimisticfromquartertwoonwardsascompaniessignedoffmoreheadcountapprovalsthanin2009.Althoughhiringactivityslowedslightlytowardsyear-end,

manyemployerswerekeentofulfiltheir2010headcountquotasinanticipationofgrowthin2011.

Professionalsweregenerallyfarmorewillingtoexplorenewopportunitiesin2010thantheyhadbeenin2009.Candidateswhotookapaycutorweremaderedundantduringtheeconomiccrisisexploredthemarketparticularlyaggressivelyin2010.

Aftersalaryandbonusfreezesduringthedownturn,candidatessalaryexpectationswereoftenunrealisticwithmanyseekingaminimumincreaseof20-35%.

However,manyprofessionalswhodidmovereceivedasalaryincreaseof10-20%in2010.Thosewhowerewillingtoacceptalocalpackagewereparticularlyindemand.Forprocurementroles,however,employerspreferredcandidateswithdomesticmarketexperienceastheyweremorelikelytopossessthegroundknowledgerequiredforstrategicsourcinganddevelopingrelationshipswiththecompanyskeysuppliers.

Overviewfor2011

Weexpectthemarkettoremainbuoyantinto2011.Thesemiconductorindustrywillseeincreasedbusinessexpansionplans

asmanyforeigncompaniesthathaveacceptedgovernmentgrantsandsubsidies

arecommittedtoexpandingtheiroperationsinSingapore.

SkillsinDemandWeexpectthehigh-techmanufacturing,pharmaceuticalsandmedicaldevicessectorstohireactivelyin2011.ManymultinationalcorporationsinthesesectorsarerelocatingtheirregionalandevenglobalhubstoSingaporeorChinaandwillrequirehighlyspecificsupplychainskills(e.g.technicalprocurementskillsforspecificcommoditiesandstrategicsupplychainmanagementof

commodities).

Otherskillsets,suchassupplychainmanagement,planning,procurementandlogisticsoperationsfortheFMCGandlogisticsindustrieswillremainhighlysought-after.Companieslookingtoreducecostswillalsobeactivelyseekingprocurementspecialistswithastrongnetworkofsuppliers,alongwithcandidateswithchangemanagement,

businessimprovementandSixSigmaexperience.

Withinthebankingandfinancialservicessector,professionalswithconsultancybackgroundsarelikelytobesought-afterforprocurementpositions,particularlyintheareaofstakeholdermanagement.Thesecandidatesareexperiencedinadaptingtothedemandsoftheirclientsandarecapableofmanagingstakeholderseffectively.

SalaryExpectations

Withthemarketbecomingincreasinglyemployeedriven,morecandidatesarestartingtonegotiatebiggerpayincreases.Professionalstypicallyexpectsalaryrisesofbetween15-25%whentheymovetoanewroleandweanticipatethiscontinuinginto2011.

SINGA SINGAPORE

SINGA


32/32

APORE

SINGAPORESUPPLYCHAIN,PROCUREMENT&LOGISTICS

APORE

SUPPLYCHAIN,PRO

CUREMENT&LOGISTICS

SUPPLYCHAIN,PRO

CUREMENT&LOGISTICS


ROLE PERMANENT

SALARYPERANNUM$SGD

2010 2011

HeadofGlobalSourcing $250-300k+ $250-300k+HeadofStrategicSourcing(Regional) $220-300k $220-300kRegionalProcurementDirector(10+yrsexp) $220-300k $220-300kSupplyChainDirector(10+yrsexp) $175-300k+ $175-300k+RegionalLogisticsDirector(10+yrs'exp) $170-300k+ $170-300k+StrategicSourcingManager(10+yrs'exp) $140-180k+ $140-200k+Category/CommodityManager(7+yrsexp) $90-140k+ $90-160k+RegionalLogisticsManager(6-10yrs'exp) $90-140k $90-140kOperationsManager(5-8yrsexp) $90-130k $90-130kDemand/SupplyPlanningManager $85-115k+ $85-120k+ProjectManager $80-130k $80-130kPlanningManager(6+yrsexp) $80-115k $80-115kSupplyChainManager(6+yrsexp) $75-130k+ $75-130k+RegionalProcurementManager(6-8yrsexp) $75-130k $75-130kStrategicSourcing(IT)Manager(6-8yrs'exp) $75-130k $75-130kStrategicSourcingManager(6-8yrs'exp) $75-120k $75-150k

SupplyChainConsultant(5-8yrs'exp) $65-120k $65-120kProcurement/SourcingAssociate(4-6yrsexp) $60-75k $60-75kSupply/DemandPlanner(5+yrsexp) $60-90k+ $60-90k+Category/CommodityManager(3-6yrsexp) $50-90k $50-90kTradeCompliance $120-180k $120-180kCustomerServiceManager(5-8yrs'exp) $60-90k $60-90kCustomerServiceManager(8+yrsexp) $100-120k $100-120k


Documents

Singapore Salary Survey 2011