2012 Salary Survey for Singapore with information on salaries in financial services and within commerce and industry

2. CONTENTS.
CLICK ON THE HYPERLINKS TO GO TO PAGE
MANAGING DIRECTOR’S LETTER 2 COMMERCE & INDUSTRY 14
ACCOUNTING & FINANCE 15
FINANCIAL SERVICES 3 INFORMATION TECHNOLOGY 17
ACCOUNTING & FINANCE 4 LEGAL & COMPLIANCE 18
BANKING OPERATIONS 6 SALES & MARKETING 19
CHANGE & PROJECT MANAGEMENT 8
INFORMATION TECHNOLOGY 9 UNDERSTANDING THIS GUIDE 22
LEGAL & COMPLIANCE 10
PRIVATE BANKING & WEALTH MANAGEMENT 11 TALK TO US 23
RISK MANAGEMENT 12
1

3. professionals in the financial services sector
became less willing to move as the risks outweighed
the positives. Employers too held off on ‘key’ hires
MANAGING preferring to watch and wait into the new year, and
the words ‘hiring freeze’ were fairly constant in Q4.
DIRECTOR’S Now, in Q1 2012 Singapore is predicting far slower
growth than the 4.8% experienced in 2011. We
Welcome to
LETTER. Morgan McKinley’s
have seen an effect on salary inflation and, in
general the view of an uplift of 10-15% is more
Singapore Salary realistic for those who are considering a career
Guide 2012 move.
The Singapore jobs market experienced Commerce & industry businesses on the other hand
considerable change, challenges and, in some saw fairly consistent growth throughout 2011.
industry sectors positive growth during 2011. Overall employees’ basic pay and total
However, the majority of the year will be compensation has been reflective of inflation. Areas
remembered for the uncertainty in the financial such as accounting and finance, HR, technology
services sector as a result of the European and and in particular sales and marketing, experienced a
sovereign debt issues which took effect from the continued appetite to hire throughout
end of Q2 onwards. This has affected overall 2011. Specifically strong investment hiring has been
compensation packages moving into 2012 with a felt within the oil and gas, technology and media
conservative approach towards pay rises and sectors as more companies looked to position
restricted approach to bonuses being the overall themselves as a hub in Singapore. Digital
consensus from most large institutions. professionals have also been in high demand, as
organisations realise the value of digital marketing
Singapore had experienced a record GDP growth in
to their business.
2010 with the year on year ending at 14.5%. The
expectations moving into 2011 were high off the Overall due to overseas market conditions deeply
back of this and the feeling was that the ‘credit affecting the financial services market, moderation
crisis’ had been averted; certainly moving through in growth is forecast across all commercial sectors
Q1 and into Q2 of 2011, Singapore saw growth and with manufacturing for example set to grow by 3.4%
considerable recruitment activity. In the in 2012.
infrastructure and controlling areas of most banks This guide is part of our ongoing commitment to
and financial institutions, firms continued to recruit keep you up to date with hiring market patterns and
and made investment hires with a fairly quick turn remuneration trends. We hope you find it
around in the interview process. informative.
Sectors such as accounting and finance, Finally, we would like to thank you for your
operations, and in particular risk, legal and continued support and wish you all the best for the
compliance remained ‘hot’ areas, but as the global remainder of 2012.
economy moved into the second phase of the
crisis(sovereign debt) , most financial institutions Chris Jay
became very conscious of hiring during challenging Managing Director | Singapore
circumstances, and trading volumes similarly T: +65 6557 4661
slowed considerably. Q3 and Q4 in 2011 showed E: cjay@morganmckinley.com.sg
significant volatility in the market and therefore,
2

4. FINANCIAL SERVICES.
3

5. FINANCIAL SERVICES.
ACCOUNTING & FINANCE
The accounting and finance market was and trading volumes significantly softened, management reporting professionals
fairly mixed in terms of hiring activity in employers hiring in this space became seems to be particularly noteworthy, and
2011. The early part of the year saw both considerable selective. In some cases the most financial institutions are being highly
investment hiring and the normal turnover large investment banks started to make selective in terms of relevance of
of employees post bonus season. redundancies across finance in product experience.
Professionals were also willing to move control, financial control and projects.
firms to make good gains in their annual Certainly, banking experience is still a must
basic pay. The general feeling across the market in H2 in this area, and employers are expecting
2012 is that bonus rounds are likely to be professionals to be in good supply. If
However, moving into H2 2011, as the minimal or in some cases none for the year, investment banks continue to make
impact of the sovereign debt crisis and and pay will most likely be frozen. Demand redundancies this year, it’s likely we will
issues in Europe became of high concern, for commodities, product controllers and see fairly long and thorough interview
processes throughout the year.
BASIC SALARIES (PER ANNUM)
Analyst / Associate / VP / SVP / Director /
Permanent role:
Non-Officer AVP / Manager Senior Manager Director Senior Director
Financial Accounting $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330k
Management Accounting $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330k
Systems / Project Accounting $40k - $75k $75k - $130k $145k - $220k $220k - $250k $240k - $350k
Fund / Trust Accounting $40k - $75k $75k - $130k $145k - $220k $180k - $220k $220k - $350k
Product Control $50k - $80k $90k - $145k $150k - $200k $220k - $250k $250k - $400k
Internal Audit $40k - $75k $75k - $130k $145k - $220k $220k - $250k $250k - $380k
Tax Advisory / Compliance $40k - $80k $80k - $140k $145k - $220k $220k- $250k $250k - $350k
Business Analyst $40k - $80k $80k - $140k $150k - $220k $220k - $250k $250k - $380k
Treasury $40k - $70k $75k - $120k $130k - $200k $180k - $220k $210k - $330k
Technical Accounting $50k - $80k $90k - $145k $150k - $200k $220k - $250k $250k - $400k
4

6. FINANCIAL SERVICES.
ACCOUNTING & FINANCE
BASIC SALARIES (PER ANNUM)
Contract role: Analyst AVP VP Director
FINANCIAL CONTROL
Financial Reporting $45k - $80k $90k - $120k $150k - $220k $220k
Regulatory Reporting $50k - $85k $95k - $130k $150k - $200k $200k
MANAGEMENT REPORTING
Strategy Planning & Analysis $50k - $85k $90k - $120k $150k - $200k $200k
Revenue & Cost Reporting $60k - $90k $90k - $130k $160k - $200k $200k
MIS Reporting $60k - $90k $90k - $130k $160k - $200k $200k
PRODUCT CONTROL
Product Control $45k - $90k $90k - $120k $150k - $220k $220k
5

7. FINANCIAL SERVICES.
BANKING OPERATIONS
The first half of 2011 saw steady hiring with Looking forward, 2012 looks uncertain with Offshoring from Japan and Australia will
an increase in projects and operational risk banks remaining cautious and continuing occur in functions but this will be offset by
roles as banks put migration and cost cutting measures. Offshoring to lower shared service plans. Commodities is a
automation plans in place to cut costs. In cost countries will continue, resulting in market set to grow but with lack of external
many cases, contracting provided a retrenchment. experience in this product and internal
solution to headcount restraints. However, mobility drives, banks will be under
Internal mobility will remain a strong focus
the second half of the year saw recruitment pressure to use existing talent and provide
to cut costs, combat attrition and solve
activity slow and the last quarter saw record training as a solution. Bonuses will be low
headcount reductions in some teams.
lows in hiring across this space due to and salary uplifts will be minimal unless
global uncertainty coupled with natural employees are being promoted.
cyclical slowdown.
BASIC SALARIES (PER ANNUM)
Role: Analyst / Associate / VP / SVP / Director /
EQUITY, CREDIT, RATES, FX / MM Non-Officer AVP / Manager Sr. Manager Director Sr. Director
Settlements $40k - $65k $65k - $130k $140k - $180k $180k - $200k $200k+
Client Services $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+
Documentation $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+
Trade Support $60k - $80k $80k - $130k $140k - $180k $180k - $220k $220k+
Business Analyst / Projects $60k - $85k $85k - $130k $140k - $180k $180k - $220k $220k+
DERIVATIVES
Settlements $40k - $65k $70k - $130k $140k - $180k $180k - $200k $200k+
Client Services $50k - $75k $75k - $130k $140k - $180k $180k - $220k $220k+
Documentation $50k - $75k $80k - $130k $140k - $180k $180k - $220k $220k+
Trade Support $60k - $80k $80k - $130k $140k - $180k $180k - $220k $220k+
Business Analyst / Projects $60k - $85k $85k - $130k $140k - $180k $180k - $220k $220k+
6

8. FINANCIAL SERVICES.
BANKING OPERATIONS
BASIC SALARIES (PER ANNUM)
Role: Analyst / Associate / VP / SVP / Director /
OTHER Non-Officer AVP / Manager Sr. Manager Director Sr. Director
Loans Administration $40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+
Static Data Analyst $40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+
Asset Servicing (Corporate Actions &
$40k - $50k $60k - $100k $100k - $150k $150k - $180k $180k+
Dividends)
Control / Reconciliations $40k - $60k $70k - $120k $130k - $180k $180k - $220k $220k+
7

9. FINANCIAL SERVICES.
CHANGE & PROJECT MANAGEMENT
Change & project management has been a There have been challenges too, with continue to dominate in 2012 and the
talking point in the hiring market for the various projects being cut short or even loss demand for qualified and certified
majority of 2011 in Singapore with some of entire funding due to the economic professionals will increase. Six Sigma is a
exciting movement and transformation in climate. As a result many teams have been popular methodology that banks are
the financial services industry. In line with restructured, not just at the analyst level, but adopting and we have seen rising demand
matters of cost saving, reduction and spend, also at the director level. for such professionals, both on a contract
change & project management is heavily and permanent basis. Salaries are
Significant projects of transformation,
relied on to implement these initiatives. competitive with banks paying a premium to
migration, onshoring and offshoring will
get suitable professionals onboard.
BASIC SALARIES (PER ANNUM)
Role: 3-5 years 5-7 years 8-10 years 10+ years
Project Manager $40k - $60k $70k - $100k $120k - $200k $200k
Business Analyst $60k - $90k $90k - $120k $120k - $200k $200k
Change Manager $60k - $90k $80k - $100k $120k - $200k $200k
Programme Manager - - - $200k - $400k
Programme Director - - - $200k - $400k
8

10. FINANCIAL SERVICES.
INFORMATION TECHNOLOGY
IT recruitment in Singapore’s financial Increasingly, IT professionals need to be offshoring to countries such as Malaysia
services sector has remained more aligned and integrated with business and the Philippines.
comparatively strong despite economic decisions, which has created demand for
After witnessing salary increases of around
turbulence. Recent trends include a healthy professionals who have good domain
6% going into 2011, increases will be more
demand for IT trading support knowledge, leadership skills and above all
conservative in 2012 in view of further
professionals. This is due in part to a new good communication skills. Cost
economic uncertainty. However hiring
wave of trading houses setting up, and a awareness has made way for continued
levels are expected to remain sturdy in
growing emphasis on front office functions offshoring of more technically ‘hands on’
response to restructuring and new start-
in Singapore for global banks, where functions to lower cost countries. India has
ups.
historically these banks have focused these dominated here over recent years, however
functions for APAC in Hong Kong. a shift in cost benefits is seeing a rise in
BASIC SALARIES (PER ANNUM)
Analyst / Associate / VP / SVP / Director /
Role:
Non-Officer AVP / Manager Sr. Manager Director Sr. Director
Programmer / Software Engineer / Developer $60k - $85k $85k - $120k $120k - $180k $180k - $280k $260k+
Business Analyst $60k - $90k $90k - $120k $120k - $180k $180k - $300k $270k+
Level 1 / 2 Technical Support $35k - $80k $80k - $110k $110k - $160k $160k - $250k $240k+
Level 3 Technical Support $60k - $90k $90k - $120k $120k - $180k $180k - $270k $265k+
Application Support (BO/MO) $70k - $95k $95k - $140k $140k - $180k $180k - $280k $280k+
Trader Support (FO) $75k - $110k $110k - $150k $150k - $220k $220k - $325k $300k+
IT Security and Audit $48k - $75k $75k - $120k $120k - $160k $160k - $250k $250k+
QA and Testing $45k - $72k $72k - $120k $120k - $150k $150k - $220k -
Database Administrators / Datawarehousing Consultant $48k - $90k $90k - $140k $140k - $200k $200k - $280k $260k+
Service Delivery / Program Manager - $100k - $130k $130k - $200k $200k - $290k $280k+
9

11. FINANCIAL SERVICES.
LEGAL & COMPLIANCE
Due to current market conditions, total match those paid in 2011. There will be This is less likely in the case of legal roles
compensation levels are likely to be affected notable exceptions: demand for compliance as demand for both transactional and ISDA
for both legal and compliance roles within professionals continues to be steady with lawyers is more dictated by the volume of
the financial services industry. However, the implementation of several new trading, which is unlikely to be as high as
although anecdotally bonus components are regulations this year. Organisations may last year.
going to be most affected, basic salary have to pay a premium to attract
expectations are, in the main, predicted to exceptional talent in the market.
BASIC SALARIES (PER ANNUM)
Role: Analyst / Associate / VP / SVP / Director /
COMPLIANCE Non-Officer AVP / Manager Sr. Manager Director Sr. Director
Monitoring/ Surveillance $30k - $60k $60k - $125k $120k - $160k $140k - $200k $200k+
AML $35k - $60k $60k - $140k $120k - $180k $170k - $250k $250k+
KYC $40k - $60k $55k - $70k $70k - $120k $100k - $200k $180k+
Investigations - $60k - $120k $120k - $180k $180k - $250k $240k+
Control Room / Research $40k - $65k $65k - $160k $130k - $200k $180k - $300k $300k+
Compliance Advisory $60k - $90k $80k - $170k $150k - $210k $180k - $280k $280k+
LEGAL
International Law Firm $40k - $60k $60k - $110k $110k - $170k $170k - $220k $220k+
Local Law Firm $45k - $70k $70k - $140k $140k - $220k $220k - $280k $280k+
Corporate Secretary $45k - $90k $75k - $140k $120k - $200k $200k - $300k $300k+
In-House Counsel $50k - $90k $80k - $150k $120k - $210k $180k - $280k $280k+
Documentation Lawyer $50k - $100k $90k - $170k $150k - $250k $240k - $350k $350k+
10

12. FINANCIAL SERVICES.
PRIVATE BANKING & WEALTH MANAGEMENT
In the first two quarters of 2011 the private decline and certainly this saw an effect on A shortage of professionals with desired
banking and wealth management sectors in the recruitment drives of most banks in the expertise continues to be a theme moving
Singapore remained robust with consistent wealth management sector. into 2012, but good professionals with a
hiring at all levels. All the major players in strong book and whom clients are willing to
The need for relationship managers with a
this area continued to have aggressive move with are difficult to find.
sizeable book is now a consistent theme,
growth plans, leveraging off Asia’s strong
with the majority of all the private banks In general, most salaries have remained
economic growth, and the increased wealth
expanding in this area preferring the comfort fairly constant. Even though the sovereign
of the Asian community.
of an established private banker; rather than debt crisis has slowed down hiring,
However, the sovereign wealth crisis and an experienced banker with no wealth guaranteed bonuses for exceptional
issues in Europe of the second half of the management familiarity or limited contacts individuals in this fee-generating space are
year resulted in overall trading volumes to of high net worth individuals. still being offered.
BASIC SALARIES (PER ANNUM)
Role: Associate / VP / Director /
Analyst / SVP /
AVP / Senior Senior
PRIVATE BANKING Non-Officer Director
Manager Manager Director
Wealth Manager / Relationship Manager/
$50k - $80k $80k - $145k $120k - $180k $200k - $280k $250k - $450k
Private Banker
Investment Advisors / Consultants $50k - $70k $80k - $130k $120k - $160k $160k - $260k $200k - $400k
Marketing (Wealth Management) $40k - $70k $80k - $120k $120k- $140k $160k - $240k $180k - $300k
CONSUMER BANKING
Wealth Manager / Relationship Manager /
$75k - $84k $85k - $115k $120k - $180K
Private Banker
Investment Advisor / Consultant $65k - $72k $75k -$100k $110k - $180k
Marketing (Wealth Management) $60k - $72k $85k - $100k $100k - $160k
11

13. FINANCIAL SERVICES.
RISK MANAGEMENT
As with most of the financial services Whilst hiring activity in 2012 may not be as In addition, qualified international
sector, recruitment in risk management in buoyant as the last two years, the prediction jobseekers are continuously looking for
2011 was a result of staff movement rather for this year is a more fluid hiring market Singapore-based roles and this trend is
than growth. than the second half of 2011. There are expected to be the same as 2011.
already signs of growth in the Singapore
The first half of the year saw significant Salaries are expected to be the same as
market, especially in quantitative finance.
growth however there was minimal hiring in previous years.
The key areas of hiring will be roles that
the second half. Most of the financial
involve risk methodologies, counterparty
institutions minimised opportunistic
risk and commodities in 2012.
recruitment in 2011.
BASIC SALARIES (PER ANNUM)
Analyst / Associate / VP / SVP / Director /
Role:
Non-Officer AVP / Manager Sr. Manager Director Sr. Director
Quantitative Analysis $72k - $100k $90k - $150k $130k - $230k $220k - $280k $250k+
Credit Risk Analysis $55k - $90k $72k - $130k $120k - $210k $180k - $250k $240k+
Market Risk Management $60k - $90k $75k - $140k $130k - $230k $200k - $260k $240k+
Market Risk Reporting $55k - $90k $72k - $130k $120k - $210k $180k - $250k $240k+
Traded Credit $60k - $90k $75k - $140k $130k - $230k $200k - $260k $240k+
12

14. INTERNAL MOBILITY
WILL REMAIN A STRONG
FOCUS TO CUT COSTS,
COMBAT ATTRITION AND
SOLVE HEADCOUNT
REDUCTIONS IN SOME
TEAMS.
13

15. COMMERCE & INDUSTRY.
14

16. COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE
The uncertainty in European and American Sourcing finance talent in the current step up significantly in job moves and also
markets has had an immediate effect in market can prove challenging. The employers generally look for those who
Singapore and other Asian markets. While continued global instability causes some have previous experience in a similar
we are still experiencing some growth in professionals to hold back from actively industry.
accounting & finance, there is increased searching for new roles. On the other hand,
Good opportunities are still available but
pressure on multinational companies to senior management retain staff who are
professionals need to think carefully about
provide higher profitability in this region. delivering in their responsibilities and
the long term potential of the role.
This has created a very risk averse jobs contributing to the business.
market where even senior vacancies are On the whole, compensation has remained
The cautious approach we experienced last
not being filled and are instead covered similar to 2011 with many examples of
year while recruiting strategic professionals
internally for cost saving reasons. reduced base salaries and increased
has continued. There is little opportunity to
variable components.
BASIC SALARIES (PER ANNUM)
Senior Senior
Role: Accountant Manager
Accountant Manager
Internal Audit $30k - $50k $45k - $75k $70k - $120k $120k - $150k
Financial Accounting $40k - $60k $55k - $85k $80k - $130k $130k - $200k
Management Accounting $40k - $60k $55k - $85k $80k - $130k $130k - $200k
Business Analyst $45k - $65k $60k - $90k $85k - $135k $135k - $190k
Systems / Project Accounting $45k - $65k $60k - $90k $85k - $135k $135k - $210k
Tax Advisory / Compliance $45k - $65k $60k - $90k $85k - $135k $135k - $210k
Financial Control $55k - $75k $70k - $100k $95k - $145k $145k - $220k
Treasury $40k - $60k $55k - $85k $80k - $130k $150k - $205k
Corporate Development / Strategy - - - $150k - $250k
15

17. COMMERCE & INDUSTRY.
ACCOUNTING & FINANCE
BASIC SALARIES (PER ANNUM)
Role:
Director / CFO
LARGE SCALE BUSINESS
Internal Audit $300k - $500k
Tax Advisory / Compliance $350k - $550k
Treasury $350k - $550k
Strategy & Accounting $500k - $700k
MEDIUM SCALE BUSINESS
Internal Audit $180k - $280k
Tax Advisory / Compliance $180k - $280k
Treasury $200k - $300k
Strategy & Accounting $250k - $450k
16

18. COMMERCE & INDUSTRY.
INFORMATION TECHNOLOGY
Singapore remains an attractive regional become more financially efficient has also Although there is lack of visibility regarding
hub for many of the world’s leading been a major driver for investment in new financial markets going into 2012, the
technology organisations and continues to technologies in the short and medium term. general outlook is positive. We anticipate
lead the way in new innovation, research continued growth in the ‘cloud’
There has been strong demand for good
and development. technologies, digital media and social
mid to senior level professionals with
media. Demand for strong ERP consultants
Hiring activity in the end space environment experience in project management,
will continue to be high as well as post
has been strong over the last year. enterprise / data / applications and
sales integration positions.
Confidence to invest in upgrading or solutions architecture, and specialist ERP
implementing new technologies has been skills and IT governance. The number of Salaries remained steady in 2011 although
buoyed by improved trading conditions in available sales and pre-sales roles has also employers have had to stretch budgets for
2011. The need for organisations to been buoyant and senior IT leadership niche positions. It is not expected that there
positions have seen a steady increase. will be a huge jump in salaries in 2012.
BASIC SALARIES (PER ANNUM)
Role: Non-Officer Manager Senior Manager Director Senior Director
Systems Support $36k - $60k $60k - $90k $90k - $130k $130k - $160k $180k+
Programmer $40k - $80k $80k - $120k $120k - $180k $180k - $230k -
Database Administration $50k - $80k $80k - $120k $120k - $150k $150k - $200k -
QA & Testing $50k - $80k $80k - $100k $100k - $140k $140k - $180k -
Marketing $60k - $90k $90k - $120k $120k - $160k $160k - $220k $220k+
IT Security and Audit $60k - $90k $90k - $150k $150k - $180k $180k - $250k $250k+
ERP $40k - $100k $100k - $150k $150k - $200k $200k - $280k -
Business Analyst $50k - $100k $100k - $150k $150k - $200k $200k - $280k $280k+
Sales $50k - $100k $100k - $180k $180k - $250k $250k - $325k $325k+
Pre-sales $50k - $100k $100k - $150k $150k - $200k $200k - $250k $250k+
Project Manager $72k - $100k $100k - $150k $150k - $200k - -
17
IT Head - $120k - $180k $180k - $220k $220k - $300k $300k+

19. COMMERCE & INDUSTRY.
LEGAL & COMPLIANCE
Recruitment activity in both the legal and pharmaceutical and telecommunications It is expected that overall levels of
compliance job markets was vibrant in saw higher levels of hiring activity. recruitment will come down from 2012,
2011. As more businesses expanded their although where vacancies do exist,
Likewise, there was a higher than usual
operations in APAC, and Singapore professionals can expect a reasonable
demand for stand alone compliance
continued to be seen as their regional hub, increase in salary, encouraging them to
professionals as multinational companies
the demand for experienced lawyers grew. move in this uncertain economic condition.
were faced with new and heightened
This was uniform across the market but
regulation, such as the Anti-bribery Act.
industry sectors such as oil & gas, shipping,
BASIC SALARIES (PER ANNUM)
Role: Analyst / Associate / VP / SVP / Director /
COMPLIANCE Non-Officer AVP / Manager Sr. Manager Director Sr. Director
KYC $40k - $60k $55k - $70k $70k - $120k $100k - $200k $180k+
Monitoring/ Surveillance $30k - $60k $60k - $125k $120k - $160k $140k - $200k $200k+
Investigations - $60k - $120k $120k - $180k $180k - $250k $240k+
AML $35k - $60k $60k - $140k $120k - $180k $170k - $250k $250k+
Control Room / Research $40k - $65k $65k - $160k $130k - $200k $180k - $300k $300k+
Compliance Advisory $60k - $90k $80k - $170k $150k - $210k $180k - $280k $280k+
LEGAL
International Law Firm $40k - $60k $60k - $110k $110k - $170k $170k - $220k $220k+
Local Law Firm $45k - $70k $70k - $140k $140k - $220k $220k - $280k $280k+
Corporate Secretary $45k - $90k $75k - $140k $120k - $200k $200k - $300k $300k+
In-House Counsel $50k - $90k $80k - $150k $120k - $210k $180k - $280k $280k+
Documentation Lawyer $50k - $100k $90k - $170k $150k - $250k $240k - $350k $350k+
18

20. COMMERCE & INDUSTRY.
SALES & MARKETING
Hiring within sales & marketing has remained
particularly buoyant in 2011 as a number of
BASIC SALARIES (PER ANNUM)
organisations looked to add to their sales and
Role:
marketing teams. ADVERTISING AGENCY
Despite a predicted slowdown in the Singapore jobs ACCOUNT MANAGEMENT
market, employers continue to search for talent and
Regional Account Director (10+ years) $145k - $250k
professionals with specific skills in this sector such as
creativity and product knowledge. Group Account Director (9+ years) $120k - $200k
Senior Account Director (8+ years) $100k - $120K
Salaries have increased for sales positions; for
example hospitality is a sector that is currently thriving. Account Director (7+ years) $70k - $110k
However whereas certain roles are set to remain Associate Account Director (6+ years) $60k - $72k
stable in terms of base remuneration, increased Account Manager (4+ years) $48k - $65k
emphasis has been placed on performance based
Account Executive (1+ years) $30k - $38k
incentives and commission schemes.
There has been increased demand for corporate
communications talent to improve brand reputation PLANNING
and strengthen relationships with audiences through Regional / Global Head Planning Director (15+ years) $200k - $380k
print, online and social media channels. Employers will Senior Planner (5+ years) $100k - $150k
be offering competitive salaries to attract and retain
staff, given ongoing skills shortages in the sales and
marketing sectors. PUBLIC RELATIONS
PR AGENCY
On average, companies are offering salary increases
of up to 15-20% to secure new talent. Managing Director / General Manager (18+ years) $250k - $300k
Practice Head (15+ years) $145k - $220k
Account Director (10+ years) $90k - $160k
Account Manager (5+ years) $65k - $90k
19

21. COMMERCE & INDUSTRY.
SALES & MARKETING (CONT.)
For professionals with skills in higher demand, such as
e-commerce and online communications, higher
BASIC SALARIES (PER ANNUM)
increases may be offered.
Role:
Throughout 2011, there was a steady rise in the PUBLIC RELATIONS (CONT.)
demand for digital marketing skills. In fact this has IN-HOUSE
been the major growth area as organisations realise
Regional Director, Corporate Communications (15+ years) $240k - $320k
the value of digital marketing to their business.
Director, Corporate Communications (12+ years) $150k - $180k
The trend has been for the creation of roles to Public Relations Manager (7+ years) $84k - $130k
complement traditional marketing and the ongoing shift Marketing Communications Director (10+ years) $120k - $180k
from agency to in-house. While digital marketing will
Marketing Communications Manager (7+ years) $84k - $130k
not completely overtake its traditional counterpart,
growth in this area will still be significant, particularly Events Manager (5+ years) $50k - $90k
as Singapore remains the digital media hub of Asia.
HOSPITALITY
Director of Sales & Marketing (10+ years) $120k - $180k
Director of Sales (8+ years) $100k - $150k
Senior Sales Manager (5+ years) $60k - $95k
Sales / Marketing Manager (3+ years) $40k - $62k
EVENT MANAGEMENT
Events Director (8+ years) $72k - $132k
Senior Events Manager (5+ years) $57k - $80k
Events Manager (3+ years) $36k - $58k
Events Executive (1+ years) $22k - $36k
20

22. DESPITE A PREDICTED
SLOWDOWN IN THE
SINGAPORE JOBS
MARKET, EMPLOYERS
CONTINUE TO SEARCH
FOR TALENT AND
PROFESSIONALS WITH
SPECIFIC SKILLS.
21

23. SALARY GUIDE | SINGAPORE 2012.
UNDERSTANDING THIS GUIDE
METHODOLOGY:
The salary information provided in this guide has Salaries listed cover basic salaries only and do not
been compiled by dedicated researchers across include bonus payments or benefits. This is due to
all of Morgan McKinley’s Financial Services and the variety of ways in which employers manage
Commerce & Industry divisions in Singapore. Our employee pay and reward.
researchers are in continual contact with both
employers and professionals within these Please note, the information presented in this
markets in Singapore. document should be used as a general guide only.
Where number of years’ experience is mentioned, it
STRUCTURE OF SALARY TABLES: is only to give an approximate framework in which to
gauge what a typical professional is likely to earn
We acknowledge that different financial with the level of experience shown.
institutions and commercial businesses have
varying corporate structures. For ease of use, this In order to match professionals to the right career
document includes corporate titles typically used opportunity for them, Morgan McKinley assesses
in financial services and commercial individuals on all their skills and abilities when
organisations. deciding on their suitability for roles with our clients.
SALARY DATA:
FURTHER INFORMATION:
The salary ranges in this guide are indications of
what individuals with similar experience might For more specific salary or hiring information, please
expect to earn in new roles in 2012. This salary visit www.morganmckinley.com.sg or contact your
data is based on placements made during the Morgan McKinley consultant directly.
last six months, as well as the specialist
knowledge of Morgan McKinley’s consultants.
© 2012 Morgan McKinley Group Ltd all rights reserved. Copy or reproduction
Visit www.morganmckinley.com.sg for more information of this material is strictly prohibited.
22

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