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Modest salary rise for Singapore professionals in 2016

Anuradha Shukla | March 22, 2016
Majority will command increases between one and five percent.

Professionals in Singapore should expect modest salary rises in 2016, according to the latest 2016 Salary Guide released by recruitment firm Robert Half.

72 percent of employees can expect their salaries to stay the same or increase between one and five percent.

Specifically, 21 percent of jobs will command an increase of between six and nine percent, while just seven percent of roles will see salary increases of 10 percent or more.

"Singapore's employment market is still active with many firms making hires to replace staff who have left and expand their headcount. However, hiring activity is not driving up salaries the way it has in previous years," said David Jones, Robert Half's senior managing director for Asia Pacific. "Where increases above five percent occur, it is usually for more specialised roles where the number of potential candidates are fewer."

"The area where salaries are most likely to increase are in technology roles. We are seeing strong demand for professionals with skills in IT audit, security and change management. Responding to technological change is a priority for many companies in Singapore and they need top technology professionals to deliver projects and update their systems," he added.

Highly sought-after technology skills include security, audit, project management, applications development, mobile and web, and change management.

More than half (55 per cent) of technology professionals can expect their salaries to stay the same or increase between one and five percent. Salary increases of between six and nine percent are on offer for 25 percent of technology roles, while 20 percent can expect double digit increases. 

On the other hand, finance and accounting professionals may enjoy a salary increase of more than five percent in 2016. 60 percent of finance and accounting roles can expect an increase of more than five percent this year.

More than 10 percent increase are usually only on offer for more senior roles such as Financial Planning & Analysis Director (13 percent), Accounts Payable/Receivable Manager (11 percent) and Credit Manager/Controller (10 percent).

Professionals with the right skills can command up to 12 percent salary increases in Tax Analyst/Specialist area.

 

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