Country overview

Singapore experienced a turbulent year in 2009 with

many sectors dramatically affected by the global
fnancial crisis. Banking and fnancial services was
affected across all functions and levels, with trading
activity particularly low at the start of the year. We saw
dramatic headcount reductions in structured products
and retrenchments prevalent within fnance, product
control and operations traditionally strong areas within
the Singapore market. Consequently, the emphasis
on equities and commodities resulted in a shortage
of talent in these areas.

Reported earnings began to grow in quarters three
and four, with greater confdence returning to the
market. As many organisations continue to operate
with skeleton staff, we anticipate a move towards
headcount increases during 2010, particularly with
regards to experienced operations professionals
with project and commodity backgrounds.
Across commerce and industry retrenchment and
repatriation of expatriates in foreign multinationals also


took place, particularly within fnancial control. Local
staff were sometimes hired as replacements but more
often than not, internal restructures were implemented
as a quick and effective way to reduce costs. Most
sectors within industry felt the effects of the fnancial
crisis but those most affected by reduced consumer
demand included: automotive, semi conductors, aviation,
industrial, hospitality, travel and telecoms. Some areas
were more resilient and pharma/healthcare/FMCG/IT
and retail fared well through the economic crisis. Despite
the poor market conditions, some professionals remained
in demand with talent shortages in sales, procurement,
tax, fnancial planning & analysis and internal audit.
July to September saw an 8.8% increase in job adverts
placed in the Singapore market, refecting the growing
confdence during the second part of the year. As
demand increases and candidates become more
confdent about moving to a new role, retention strategies
and succession planning will be key. Those companies
proactively addressing these issues will secure the best
talent in the market.
SingaPore
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Our account|ng & f|nance recru|tment d|v|s|on
has estab||shed a so||d reputat|on w|th over 11
years' recru|tment exper|ence |n the S|ngapore
market. Our consu|tants spec|a||se |n the
p|acement of f|nance profess|ona|s |nto |oca|
and mu|t|nat|ona| organ|sat|ons outs|de of the
f|nanc|a| serv|ces sector.
Market Overv|ew
The f|rst quarter of 2009 saw an |ncrease
|n recru|tment act|v|ty fo||ow|ng a strong
quarter four |n 2008. Many cand|dates had
tendered the|r res|gnat|ons after rece|v|ng the|r
Annua| Wage Supp|ement (AWS}* and var|ab|e
bonuses from the prev|ous year and began
seek|ng new opportun|t|es |n quarter one of
2009.
Desp|te the pos|t|ve start to the year, the
g|oba| f|nanc|a| cr|s|s d|d |mpact bus|ness
|n S|ngapore. The manufactur|ng and
sem|conductor |ndustr|es rema|ned s|ow
|n terms of recru|tment as they were bad|y
affected by the g|oba| cred|t cr|s|s. Surpr|s|ng|y,
we d|d not see much pan|c from job seekers
|n th|s sector. A|though many were caut|ous
w|th the|r dec|s|ons to attend |nterv|ews and
change jobs, they st||| rema|ned open to
except|ona| career opportun|t|es. We observed
on|y marg|na| s|gns of recovery |n these
sectors |n quarter three. Sectors that saw
the b|ggest jump |n the number of jobs |n
2009 were pharmaceut|ca|, FMOG, reta|| and
te|ecommun|cat|ons.
ln quarter four, h|r|ng aga|n |ncreased
s|gn|f|cant|y as compan|es were keen to
secure the best profess|ona|s |n preparat|on
for the ant|c|pated market growth |n 2010.
A notab|e trend dur|ng th|s per|od was
the qu|cken|ng of the recru|tment process
compared to the f|rst three quarters of 2009.
We saw a marked reduct|on |n expatr|ates`
packages as organ|sat|ons sw|tched to
h|r|ng |oca|s to manage costs. Many fore|gn
profess|ona|s were made redundant or
repatr|ated, |ead|ng to a decrease |n average
sa|ar|es for f|nance cand|dates.
Techn|ca| sk|||s |n constant demand throughout
2009 were cost account|ng, tax, comp||ance
and |nterna| aud|t, w|th ro|es |n these areas
often requ|r|ng extens|ve trave| |n the reg|on.
W|th the pharmaceut|ca| and hea|thcare
sectors boom|ng and new pos|t|ons |n
the research and deve|opment area be|ng
created, cost accountants and research and
deve|opment contro||ers were a|so h|gh|y
sought-after. Demand great|y outwe|ghed
supp|y for these n|che sk|||s and some
organ|sat|ons were forced to w|den the|r
searches to |nc|ude fore|gn profess|ona|s w|th
such sk||| sets, desp|te the genera| trend away
from expatr|ate h|res.
Out|ook for 2010
ln 2010, we ant|c|pate recru|tment w|||
cont|nue to p|ck up across most sectors
espec|a||y FMOG, pharmaceut|ca|s,
commod|ty trad|ng houses, sh|p management
and te|ecommun|cat|ons. Organ|sat|ons
w||| cont|nue to h|re bus|ness-cr|t|ca| ro|es,
espec|a||y those who can he|p |mprove a
bus|ness qu|ck|y.
We expect to see a steady |ncrease |n
contract opportun|t|es as organ|sat|ons
w|th headcount restr|ct|ons or more
conservat|ve v|ews on the market |ook to h|re
to supp|ement the|r permanent workforce.
Sa|ar|es w||| rema|n compet|t|ve as the best
cand|dates w||| st||| be the hardest to attract
and w||| cont|nue to command a prem|um.
Spec|a||ty areas such as tax and treasury have
trad|t|ona||y attracted more cand|dates as
h|gher sa|ar|es are often offered; we see no
ev|dence of th|s chang|ng |n 2010.
W|th organ|sat|ons focus|ng the|r efforts on
reta|n|ng staff, the |nc|dence of counter offers
w||| |ncrease |n 2010 w|th both monetary
compensat|on and prom|ses of promot|ons
and career advancement ||ke|y to be offered.
Organ|sat|ons w||| therefore need to act qu|ck|y
to secure the h|ghest ca||bre profess|ona|s.
Oompan|es shou|d cont|nue to pr|or|t|se
tra|n|ng and deve|opment as part of the|r
retent|on strategy |n order to stay compet|t|ve
and attract|ve to key ta|ent. lt |s a|so |mportant
for compan|es to keep up-to-date w|th current
trends and ta|ent ava||ab|||ty |n the market so
that |f a need ar|ses, they are ab|e to recru|t
qu|ck|y and eff|c|ent|y w|th m|n|ma| |mpact to
the bus|ness.
Where dec|s|ons are made to recru|t externa||y,
we ant|c|pate that there w||| be more emphas|s
on cand|dates w|th reg|ona| exper|ence
and transferab|e sk|||s, a|ong w|th dynam|c
persona||t|es and strong commun|cat|on
ab|||t|es.
Some cand|dates were pa|d above market
rates |n 2008 compared w|th the|r |eve| of
exper|ence. Th|s was due to a shortage of
ta|ent at that t|me wh|ch p|aced upward
pressure on sa|ar|es. ln 2009, a s|gn|f|cant
number of expatr|ates were made redundant
wh|ch |ed to a reduct|on of average sa|ar|es
across a|| |eve|s. We expect the market to
correct |tse|f |n 2010 and sa|ar|es to adjust
back to market |eve|.
*Note:
The "Annua| Wage Supp|ement (AWS}" |s
a|so known as the 13th month payment.
lt represents a s|ng|e annua| payment to
emp|oyees that |s supp|ementary to the tota|
amount of annua| wages earned.
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ROL PRMANN1
SALARY PR ANNUM $SGD
2009 2010
Oh|ef F|nanc|a| Off|cer $250 - 450k+ $250 - 400k+
lnterna| Aud|tor - D|rector $220 - 300k $220 - 280k
Tax D|rector $200k+ $220k+
F|nance D|rector - |arge Organ|sat|on $210 - 425k+ $210 - 400k
F|nanc|a| Oontro||er - |arge Organ|sat|on $160 - 200k+ $160 - 200k
F|nance D|rector - Sma||/Med|um Organ|sat|on $156 - 225k+ $150 - 210k
Oommerc|a| Manager $140 - 200k $140 - 180k
Tax Manager $130 - 200k $130 - 200k
Treasury Manager $120 - 180k $120 - 170k
F|nanc|a| Oontro||er - Sma||/Med|um Organ|sat|on $120 - 170k+ $120 - 170k
Oorporate F|nance (6+ yrs` exp} $120 - 170k $120 - 170k
Pr|c|ng Manager $130 - 160k $120 - 150k
F|nanc|a| P|ann|ng and Ana|ys|s (6+ yrs` exp} $120 - 180k+ $110 - 180k
Oost Oontro||er (6 - 10 yrs` exp} $120 - 160k $110 - 160k
lnterna| Aud|tor - Manager $104 - 195k $100 - 180k
Aud|tor (8+ yrs` exp} $104 - 170k $100 - 150k
Bus|ness Ana|yst (6 - 10 yrs` exp} $90 - 170k $90 - 150k
Treasury Ana|yst (6+ yrs` exp} $100 - 120k+ $90 - 110k
Ored|t Oontro||er (6+ yrs' exp} $85 - 149k+ $85 - 130k
F|nanc|a| Ana|yst (6 - 10 yrs` exp} $91 - 120k $85 - 120k
F|nance Manager (4 - 6 yrs` exp} $90 - 125k $85 - 120k
Tax Accountant - Sen|or (6+ yrs` exp} $80 - 110k+ $85 - 110k
Group Accountant - Oonso||dat|ons $72 - 100k $70 - 100k
F|nance Manager (0 - 3 yrs` exp} $72 - 104k $70 - 100k
F|nanc|a| P|ann|ng and Ana|ys|s (3 - 5 yrs` exp} $70 - 95k $70 - 90k
Bus|ness Ana|yst (3 - 5 yrs` exp} $65 - 80k $65 - 78k
Oost Accountant (3 - 5 yrs` exp} $58 - 90k $60 - 90k
Treasury Ana|yst (4 - 6 yrs` exp} $58 - 90k $60 - 90k
Aud|tor (3 - 5 yrs` exp} $54 - 85k $55 - 85k
Tax Accountant (3 - 5 yrs` exp} $50 - 84k $55 - 80k
Accountant (3 - 5 yrs` exp} $54 - 72k $54 - 70k
F|nanc|a| Ana|yst (3 - 5 yrs` exp} $55 - 85k $52 - 80k
Accounts Payab|e/Rece|vab|e Accountants (3 - 5 yrs` exp} $42 - 60k $42 - 60k
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|ons.
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fRON1 OffIC
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Our spec|a||st front off|ce d|v|s|on recru|ts
top ta|ent for a range of f|nanc|a| serv|ces
|nst|tut|ons |nc|ud|ng |nvestment banks,
commerc|a| banks, hedge funds, pr|vate equ|ty
f|rms, |nsurance f|rms and asset management
houses. Areas we recru|t |n |nc|ude:

Oap|ta| markets

Oorporate and |nst|tut|ona| bank|ng

Oorporate f|nance

Fund management

Pr|vate equ|ty and venture cap|ta|

Sa|es and trad|ng

Wea|th management
Market Overv|ew
Fund Management
2009 was a d|ff|cu|t per|od for the fund
management |ndustry as |t went through
a conso||dat|on phase and exper|enced
headcount reduct|ons. Th|s was |arge|y due
to dec||n|ng |nvestors' conf|dence, forc|ng
many buy s|de compan|es to face s|zeab|e
redempt|ons. However |n the second ha|f
of the year, apart from a few sma||er asset
management houses c|os|ng operat|ons, we
saw m|n|ma| retrenchments |n th|s area. The
recru|tment market a|so began to stab|||se at
the beg|nn|ng of quarter three w|th the upward
trend |n cap|ta| markets.
Mov|ng |nto 2010, we expect headcount
for the |arger |nst|tut|ons to rema|n re|at|ve|y
unchanged as many cont|nue to operate w|th
ex|st|ng resources. The Monetary Author|ty of
S|ngapore has prov|ded tax |ncent|ves for new
compan|es to set up operat|ons domest|ca||y
and we pred|ct that th|s w||| |ncrease the
demand for cand|dates.
Sa|es and Trad|ng
W|th the except|on of commod|t|es h|r|ng,
headcount for trad|ng pos|t|ons fe|| |n the f|rst
s|x months of 2009, w|th f|nanc|a| |nst|tut|ons
becom|ng r|sk averse and curb|ng trad|ng
act|v|t|es. However, |n the second ha|f of the
year we saw a reversa| |n h|r|ng as banks
started to open up the|r ba|ance sheets and
|ncrease headcount, part|cu|ar|y |n North As|a.
We ant|c|pate an |ncrease |n sa|es vacanc|es
across a|| asset c|asses |nc|ud|ng equ|t|es,
f|xed |ncome, commod|t|es and F |n 2010,
|n ||ne w|th the grow|ng aff|uence of pr|vate
wea|th and compan|es requ|r|ng greater
hedg|ng fac|||t|es.
Corporate/Inst|tut|ona| Bank|ng
Headcount reduct|ons for re|at|onsh|p
managers were seen at the start of 2009
and f|nanc|a| |nst|tut|ons took a conservat|ve
approach to both |end|ng and h|r|ng act|v|t|es.
ln a b|d to stab|||se the market, the S|ngapore
government offered f|nanc|a| assurances
to corporate |oans. As a resu|t, banks
|ncreased headcount part|cu|ar|y w|th|n the
SME segment, and commerc|a| banks were
prepared to take on more r|sks. W|th a greater
emphas|s on fee |ncome generat|ng act|v|t|es,
banks reverted to trad|t|ona| cash and trade
operat|ons, |ead|ng to a strong demand for
transact|ona| bank|ng profess|ona|s.
The out|ook |n 2010 for corporate/|nst|tut|ona|
bank|ng |ooks prom|s|ng, as corporat|ons
recover and banks support the|r growth by
|ncreas|ng |end|ng act|v|t|es. The demand for
good re|at|onsh|p managers w||| be h|gh and
we expect a ta|ent shortage |n th|s space.
Pr|vate Bank|ng
For an |ndustry renowned for |ts stab|||ty, 2009
was a cha||eng|ng year for the pr|vate bank|ng
|ndustry. Am|d the g|oba| econom|c downturn,
pr|vate banks had to dea| w|th s|gn|f|cant
c||ent w|thdrawa|s. As the f|nanc|a| markets
sett|ed towards m|d-year and c||ent conf|dence
returned, the demand for pr|vate bankers
subsequent|y |ncreased. We exper|enced a
grow|ng trend of pr|vate bankers mov|ng from
|arge to sma||er bout|que pr|vate banks. Many
of these moves were due to management
changes, attr|t|on of sen|or staff, changes |n
bank strateg|es and compensat|on structures.
Pr|vate bankers were a|so |arge|y mot|vated by
the preference of h|gh net worth c||ente|e, who
chose pure pr|vate banks w|th a tru|y open
arch|tecture p|atform.
As As|a`s aff|uence grows, we w||| cont|nue to
see a shortage of m|d to sen|or |eve| pr|vate
bankers. W|th such a ||m|ted ta|ent poo|, we
ant|c|pate the banks w||| focus most of the|r
h|r|ng efforts |n th|s area |n 2010. Th|s w|||
||ke|y |ead to a correspond|ng demand for
pr|or|ty bankers. However, as many banks
have adopted a h|gher comm|ss|on and |ower
base sa|ary mode|, we expect sa|ar|es for
these cand|dates w||| decrease.
Investment Bank|ng
The f|rst two quarters of 2009 saw cont|nued
restructur|ng across |nvestment bank|ng
d|v|s|ons. The rea| estate sector |n part|cu|ar
exper|enced a headcount reduct|on of
approx|mate|y 35% across a|| |eve|s. Bankers
|n the equ|t|es cap|ta| markets were made
redundant |n ||ne w|th market cond|t|ons.
However, headcount |ncreased |n debt cap|ta|
markets as compan|es demanded bank|ng
serv|ces to restructure the|r |oan and bond
|ssuance.
There cont|nued to be h|gh demand for
bankers w|th transact|ona| exper|ence w|th|n
South East As|a, and those w|th strong
re|at|onsh|ps or execut|on/dea| |eadersh|p
capab|||t|es. ln terms of remunerat|on, sen|or
bankers |n part|cu|ar were offered sma||er cash
bonus payouts but th|s was often subst|tuted
w|th stock equ|ty.
We expect strong growth |n the areas of
Meta|s and M|n|ng (M&M} and F|nanc|a|
lnst|tut|ons Group (FlG}. As the market
recovers, banks are ||ke|y to |ncrease
headcount for jun|or to m|d-|eve| h|res and
we expect th|s w||| |ead to a ta|ent shortage.
Overseas bankers who are |ook|ng to return
to As|a shou|d cons|der opportun|t|es |n th|s
sector.
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ROL PRMANN1 SALARY PR ANNUM $SGD
1 - 4 YRS' XP 4 - 8 YRS' XP 8+ YRS' XP
2009 2010 2009 2010 2009 2010
Front Off|ce
Pr|vate Equ|ty= $85 - 150k $100 - 150k $150 - 230k $150 - 250k $230k+ $250k+
Fund Management
Portfo||o Management= $60 - 100k $60 - 102k $100 - 180k $102 - 192k $180k+ $192k+
Research $50 - 96k $60 - 100k $96 - 180k $100 - 192k $180k+ $192k+
lnst|tut|ona| Market|ng $48 - 105k $48 - 105k $105 - 165k $105 - 165k $165k+ $165k+
O||ent Serv|ces $36 - 78k $36 - 78k $78 - 132k $78 - 132k $132k+ $132k+
Sa|es and Trad|ng
Structur|ng* $68 - 120k $68 - 120k $120 - 230k $120 - 230k $230k+ $230k+
Trad|ng* $50 - 96k $50 - 102k $96 - 180k $102 - 198k $180k+ $198k+
Oustody/Trust Sa|es* $42 - 86k $42 - 86k $86 - 180k $86 - 180k $180k+ $180k+
Treasury Sa|es* $48 - 90k $48 - 90k $90 - 175k $90 - 175k $175k+ $175k+
Corporate/Inst|tut|ona| Bank|ng
Oorporate Bank|ng (RM} $42 - 85k $42 - 85k $85 - 165k $85 - 174k $165k+ $174k+
Oorporate Bank|ng (Ored|t} $32 - 80k $32 - 80k $80 - 138k $80 - 138k $138k+ $138k+
Enterpr|se Bank|ng (RM} $32 - 80k $32 - 80k $80 - 130k $80 - 130k $130k+ $130k+
Pr|vate Bank|ng
Pr|vate Bank|ng (RM}* $84 - 110k $90 - 120k $110 - 200k $120 - 220k $200k+ $220k+
Pr|vate Bank|ng (lnvestment
Adv|sor}*
$50 - 100k $50 - 100k $100 - 160k $100 - 178k $160k+ $178k+
Pr|or|ty Bank|ng (RM}* $45 - 144k $45 - 84k $84 - 144k $84 - 120k $144k+ $120k+
Investment Bank|ng
lnvestment Bank|ng* $85 - 150k $100 - 150k $150 - 230k $150 - 250k $230k+ $250k+
Debt Oap|ta| Market* $60 - 110k $60 - 130k $110 - 180k $130 - 200k $180k+ $200k+
Equ|t|es Oap|ta| Market* $54 - 110k $60 - 130k $110 - 165k $130 - 200k $165k+ $200k+
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|ons.
* var|ab|e bonuses may be a |arge contr|but|ng factor to overa|| compensat|on.
= Oarr|ed |nterest may be a |arge contr|but|ng factor to overa|| compensat|on.
RM - Re|at|onsh|p Manager
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Robert Wa|ters has one of the |argest
f|nanc|a| serv|ces recru|tment bus|nesses
|n S|ngapore w|th spec|f|c bout|que teams
spec|a||s|ng across f|nance, operat|ons,
projects, governance (aud|t, |ega|, comp||ance}
and r|sk for both contract and permanent
h|res. The d|v|s|on has won a number of
awards over |ts 11 years of operat|on and |s
cons|stent|y voted the number one and most
preferred recru|tment consu|tancy by |ndustry
profess|ona|s.
Market Overv|ew
As a dom|nant g|oba| f|nanc|a| serv|ces p|ayer
|n m|dd|e and back off|ce centres, the onset
of the econom|c cr|s|s saw h|r|ng act|v|t|es |n
S|ngapore s|ow down cons|derab|y across
var|ous areas w|th|n f|nanc|a| serv|ces |nc|ud|ng
consumer, who|esa|e, fund management,
pr|vate equ|ty, wea|th, brokerage, custod|ans,
adm|n|strators and |nsurance compan|es.
The major|ty of d|sp|aced profess|ona|s were
at the sen|or v|ce pres|dent and manag|ng
d|rector |eve| and w|th|n more jun|or, entry-|eve|
pos|t|ons.
At the |nfrastructure sector |eve|, the areas
of f|nance, operat|ons and projects were the
hardest h|t by the downturn. ln compar|son,
pockets of se|ect|ve h|r|ng st||| occurred w|th|n
the areas of governance and r|sk.
Dur|ng the boom years, h|r|ng was focused on
bus|ness enab||ng ro|es, dr|ven by corporate
growth or by new products. However, h|r|ng
|n 2009 ref|ected market cond|t|ons and
focused more on restructur|ng, off-shor|ng and
regu|atory or M&A |n|t|at|ves. ln |nvestment
banks, h|r|ng focused on more commerc|a|
or 'van|||a` areas as opposed to 'exot|cs` or
structured products. A number of commerc|a|
banks however, d|dn't fo||ow th|s trend and
recru|ted |nvestment bank|ng ta|ent to expand
the|r product offer|ngs.
Due to |oca| retrenchment exerc|ses and
|ncreas|ng |nterest from affected off-shore
cand|dates, a strong ta|ent poo| deve|oped
|n the market and exceeded the number of
ro|es ava||ab|e. As a resu|t, |ess exper|enced
profess|ona|s faced h|gher barr|ers of entry
as emp|oyers were more |nc||ned to |nvest |n
exper|enced h|res. New h|res were genera||y
pa|d |ess but expected to perform better than
those who had been made redundant.
ln add|t|on, cand|dates had moved |nto jobs at
|ower grades and |t was not uncommon to see
pay ranges across grades be|ng reduced by
up to 10%. However, for expatr|ates who were
pa|d |n S|ngapore do||ars, th|s was cush|oned
by the strength of the |oca| do||ar, wh|ch
apprec|ated aga|nst other major currenc|es.
We observed that genera| h|r|ng act|v|t|es
|mproved from m|d August 2009. Many
f|nanc|a| organ|sat|ons, caut|ous of
be|ng pub||c|y seen as h|r|ng after recent
retrenchments, re-engaged recru|tment
consu|tanc|es for d|scret|onary h|res. M|dd|e
and back off|ce h|r|ng rema|ned popu|ar
for product groups such as commod|t|es
and, on a funct|ona| |eve|, profess|ona|s
who spec|a||sed |n areas such as f|nance
bus|ness partner|ng, comp||ance, cred|t r|sk,
documentat|on, pr|me serv|ces, va|uat|on and
tax enjoyed susta|ned emp|oyab|||ty.
Out|ook for 2010
Much of the h|r|ng |n the |atter ha|f of 2009
was focused on the front off|ce sectors, |arge|y
w|th|n the areas of asset acqu|r|ng or P&|
generat|on. H|r|ng |n m|dd|e and back off|ce
areas has genera||y |agged beh|nd the front
off|ce, and |f the revenue uptrend cont|nues
there shou|d be a pos|t|ve f|ow through to
m|dd|e and back off|ce serv|ce ro|es. Th|s
w||| |n turn encourage a number of f|nanc|a|
serv|ces organ|sat|ons that have ||m|ted serv|ce
operat|ons |n S|ngapore to expand |n 2010.
We expect these expans|on act|v|t|es to offset
the outf|ow, |ed by ex|st|ng back off|ce centres
wh|ch are |ook|ng to conso||date operat|ons |n
|ower cost markets outs|de of S|ngapore.
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fINANC
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ROL PRMANN1 SALARY PR ANNUM $SGD
ANALYS1/1AM LADR MANAGR/AVP VIC PRSIDN1/HOD
2009 2010 2009 2010 2009 2010
F|nanc|a| Contro| and Tax
Tax Account|ng $40 - 60k $40 - 60k $65 - 115k $65 - 115k $120 - 220k+ $120 - 220k+
F|nanc|a| Report|ng $40 - 60k $40 - 60k $65 - 115k $65 - 115k $120 - 210k+ $120 - 210k+
Regu|atory Report|ng $40 - 55k $35 - 55k $60 - 105k $60 - 105k $110 - 180k+ $110 - 170k+
Management Report|ng
Strateg|c P|ann|ng and Ana|ys|s $40 - 60k $40 - 60k $70 - 120k $70 - 120k $130 - 275k+ $130 - 260k+
Revenue and Oost Report|ng $40 - 60k $40 - 60k $70 - 105k $70 - 105k $110 - 200k+ $110 - 200k+
MlS Report|ng $40 - 55k $35 - 55k $65 - 95k $65 - 90k $105 - 180k+ $105 - 160k+
Product Contro|
Oommod|t|es and Exot|cs $40 - 75k $40 - 75k $80 - 130k $80 - 130k $145 - 320k+ $145 - 280k+
F|xed lncome and Equ|t|es $40 - 70k $40 - 70k $80 - 125k $80 - 125k $145 - 300k+ $145 - 280k+
Oash $40 - 60k $40 - 60k $65 - 100k $65 - 100k $120 - 220k+ $120 - 220k+
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
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GOVRNANC
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ROL PRMANN1 SALARY PR ANNUM $SGD
ANALYS1/1AM LADR MANAGR/AVP VIC PRSIDN1/HOD
2009 2010 2009 2010 2009 2010
Interna| Aud|t
G|oba| Markets $40 - 65k $40 - 65k $65 - 155k $65 - 130k $155 - 350k+ $155 - 300k+
lnvestment/Wea|th Management $40 - 60k $40 - 60k $65 - 155k $65 - 130k $155 - 350k+ $140 - 280k+
Ored|t $40 - 60k $40 - 60k $50 - 130k $50 - 130k $140 - 300k+ $140 - 270k+
lT $40 - 55k $40 - 55k $50 - 130k $50 - 120k $140 - 300k+ $130 - 260k+
F|nance $40 - 55k $40 - 55k $50 - 120k $50 - 120k $130 - 270k+ $130 - 260k+
Operat|ona| R|sk Management
G|oba| Markets $40 - 60k $40 - 60k $80 - 165k $80 - 120k $160 - 350k+ $150 - 280k+
lnfrastructure $40 - 60k $40 - 60k $65 - 150k $65 - 120k $150 - 300k+ $130 - 270k+
Market R|sk
Management/Mode|||ng $40 - 80k $40 - 80k $80 - 175k $80 - 130k $175 - 350k+ $150 - 300k+
Oontro|||ng/Report|ng $40 - 65k $40 - 65k $65 - 155k $65 - 100k $155 - 350k+ $130 - 270k+
Cred|t R|sk
lnvestment/Wea|th Management $40 - 65k $40 - 65k $65 - 155k $65 - 110k $155 - 350k+ $140 - 300k+
lnvestment/Oorporate Bank|ng $40 - 65k $40 - 65k $65 - 140k $65 - 130k $140 - 300k+ $140 - 300k+
Ana|ys|s/Base| ll $40 - 70k $40 - 70k $70 - 150k $70 - 120k $150 - 350k+ $150 - 280k+
Oonsumer Bank|ng Operat|ons $40 - 55k $40 - 55k $55 - 125k $55 - 100k $125 - 270k+ $120 - 240k+
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
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OPRA1IONS & PROJC1S
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ROL PRMANN1 SALARY PR ANNUM $SGD
ANALYS1/1AM LADR MANAGR/AVP VIC PRSIDN1/HOD
2009 2010 2009 2010 2009 2010
Sett|ements and Process|ng
Der|vat|ves/Oommod|t|es/Futures $40 - 80k $40 - 80k $110 - 135k $110 - 135k $145 - 270k+ $145 - 270k+
Pr|me Brokerage $40 - 80k $50 - 80k $110 - 135k $110 - 135k $140 - 220k+ $140 - 220k+
Pr|vate Bank|ng $40 - 80k $35 - 70k $110 - 135k $100 - 120k $145 - 270k+ $135 - 270k+
Fund Management $40 - 60k $40 - 60k $70 - 100k $70 - 100k $130 - 220k+ $130 - 200k+
F|xed lncome/Equ|t|es $40 - 60k $35 - 55k $70 - 125k $70 - 110k $130 - 180k+ $120 - 170k+
F/MM $40 - 65k $35 - 60k $70 - 115k $70 - 100k $130 - 175k+ $120 - 165k+
lnsurance $30 - 50k $30 - 40k $60 - 80k $50 - 70k $100 - 150k+ $180 - 140k+
M|dd|e Off|ce and Trade Support
Der|vat|ves/Oommod|t|es/Futures $40 - 80k $40 - 80k $110 - 135k $110 - 135k $145 - 190k+ $145 - 190k+
Operat|ons Oontro| $40 - 65k $40 - 65k $85 - 125k $90 - 130k $140 - 180k+ $140 - 180k+
Other Products $40 - 60k $40 - 60k $70 - 125k $70 - 125k $130 - 175k+ $130 - 175k+
O||ent Serv|ces $45 - 75k $45 - 60k $85 - 120k $80 - 110k $130 - 160k+ $120 - 160k+
Asset Serv|c|ng
Documentat|on $40 - 85k $40 - 65k $100 - 130k $85 - 110k $150 - 240k+ $120 - 220k+
Oo||atera| Management $40 - 60k $40 - 60k $80 - 120k $80 - 120k $135 - 175k+ $135 - 175k+
Reconc|||at|on and lnvest|gat|on $40 - 60k $40 - 60k $85 - 120k $85 - 120k $130 - 170k+ $130 - 170k+
Data Management $40 - 60k $40 - 60k $80 - 120k $80 - 110k $130 - 160k+ $120 - 160k+
Fund Adm|n|strat|on $40 - 70k $40 - 60k $75 - 110k $70 - 110k $125 - 170k+ $120 - 170k+
Oorporate Act|ons $40 - 60k $35 - 50k $75 - 100k $70 - 100k $135 - 160k+ $120 - 150k+
Ored|t Adm|n|strat|on $40 - 60k $40 - 60k $75 - 110k $75 - 110k $120 - 160k+ $120 - 160k+
Project Management and Bus|ness Ana|ys|s
Strategy $50 - 90k $50 - 90k $110 - 140k $110 - 140k $160 - 280k+ $160 - 280k+
F|nance/lnfrastructure $40 - 80k $40 - 80k $90 - 130k $90 - 130k $140 - 225k+ $140 - 225k+
Wea|th Management $40 - 65k $40 - 60k $80 - 130k $70 - 120k $140 - 250k+ $130 - 250k+
F|nanc|a| Markets $40 - 65k $40 - 65k $80 - 130k $70 - 120k $140 - 250k+ $130 - 230k+
Transact|on Bank|ng $40 - 60k $40 - 60k $70 - 90k $70 - 90k $130 - 200k+ $130 - 180k+
Oonsumer Bank|ng $40 - 60k $40 - 60k $70 - 90k $70 - 90k $130 - 180k+ $130 - 180k+
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
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Our eng|neer|ng recru|tment d|v|s|on |n
S|ngapore spec|a||ses |n the p|acement
of permanent and contract eng|neer|ng
profess|ona|s, focus|ng on m|dd|e to sen|or
|eve| appo|ntments, across the fo||ow|ng
|ndustry sectors:

Aerospace

Automot|ve

Bu||d|ng and construct|on

Ohem|ca|

E|ectr|ca|

E|ectron|cs

Energy

Hea|thcare

Mar|ne

Med|ca|

O|| and gas

Petrochem|ca|s

Pharmaceut|ca|s

Research and deve|opment

Sem|conductor

t|||t|es
Market Overv|ew
The eng|neer|ng sector exper|enced a severe
s|owdown as the after-effects of the f|nanc|a|
downturn were fe|t across the |ndustry.
Oompan|es rema|ned extreme|y caut|ous,
part|cu|ar|y when |t came to recru|tment. As
order book|ngs and f|nanc|a| fund|ng were
reduced, expans|on p|ans were |nev|tab|y
postponed. The |ndustr|es that were most
affected by the downturn |n the f|rst ha|f
of 2009 |nc|uded aerospace, automot|ve,
chem|ca|, o|| and gas and the e|ectron|cs and
sem|conductor sectors.
The o|| and gas |ndustry exper|enced strong
growth |n prev|ous years, but th|s was
drast|ca||y reduced |n 2009. Rep|acement ro|es
became more preva|ent than growth h|res.
Major r|g bu||ders |n S|ngapore faced huge
cha||enges |n reg|ster|ng new orders, espec|a||y
dur|ng the f|rst three quarters of 2009.
The cred|t cr|s|s had the greatest |mpact on
the e|ectron|cs and sem|conductor sectors.
A|though an |ncrease was seen |n h|r|ng
act|v|ty towards the end of quarter two
and three |n 2009, the market rema|ned
conservat|ve about prospects for recovery.
Desp|te the downturn |n severa| key |ndustr|es,
the b|otechno|ogy sector was upbeat and
cont|nued to de||ver reasonab|e growth.
Many b|ue-ch|p mu|t|nat|ona| compan|es,
nutr|t|on compan|es and |arge med|ca|
dev|ce organ|sat|ons cont|nued to grow and
announced p|ans to bu||d new manufactur|ng
fac|||t|es |n S|ngapore.
We a|so w|tnessed the merger and acqu|s|t|on
of severa| key pharmaceut|ca| g|ants w|th a
strong manufactur|ng presence |n S|ngapore.
Desp|te th|s, h|r|ng act|v|ty rema|ned steady
and many ta|ented |nd|v|dua|s from these
compan|es were approached to jo|n
b|otechno|ogy and nutr|t|ona| compan|es.
Out|ook for 2010
A|though the eng|neer|ng |ndustry |s d|v|ded |n
|ts expectat|ons on the economy`s recovery,
we observed a strong |ncrease |n h|r|ng
act|v|t|es from the second ha|f of 2009. We
ant|c|pate th|s to cont|nue strong|y throughout
2010, w|th a h|gh demand for eng|neer|ng
profess|ona|s across a var|ety of sectors,
part|cu|ar|y |n the areas of construct|on,
energy, pharmaceut|ca|, manufactur|ng and
b|otechno|ogy.
The bu||d|ng and construct|on sector
cont|nued to grow |n 2009, a|be|t at a s|ower
rate. Backed by the ex|st|ng |ntegrated resorts,
strong sa|es of pr|vate projects and the |nf|ux
of government-backed |nfrastructure projects,
we ant|c|pate th|s sector w||| rema|n buoyant
throughout 2010.
Moreover, the b|otechno|ogy |ndustry |ooks
po|sed to cont|nue |ts growth for the next
few years. As the sector's expans|on p|ans
unfo|d, we env|sage that b|otechno|ogy tra|ned
and pharmaceut|ca| profess|ona|s w||| be
h|gh|y sought-after |n 2010 as there |s st|||
a shortage of ta|ent |n th|s area. Sk|||s |n
demand w|th|n the b|otechno|ogy sector w|||
|nc|ude manufactur|ng, eng|neer|ng, process
management and va||dat|on.
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ROL PRMANN1 SALARY PR ANNUM $SGD
SNIOR NGINR/
ASSIS1AN1 MANAGR/MANAGR
5 - 10 YRS' XP
DIRC1OR
10+ YRS' XP
2009 2010 2009 2010
Project $101 - 120k $101 - 130k $121 - 220k $131 - 220k
Research and Deve|opment $91 - 125k $91 - 130k $126 - 210k $131 - 210k
Ohem|ca| $91 - 120k $91 - 120k $121 - 200k $121 - 200k
Ma|ntenance $101 - 125k $91 - 120k $126 - 220k $121 - 200k
Oontracts $86 - 115k $91 - 120k $116 - 160k $121 - 180k
E|ectr|ca| $86 - 115k $86 - 115k $116 - 210k $116 - 210k
Des|gn $86 - 115k $86 - 115k $116 - 200k $116 - 200k
Mechan|ca| $86 - 115k $86 - 115k $116 - 200k $116 - 200k
Oonsu|tant (lSO/TS, S|x S|gma, |ean, lndustr|a|} $86 - 110k $86 - 110k $111 - 210k $111 - 210k
lnstrumentat|on and Oontro| $81 - 110k $81 - 110k $111 - 220k $111 - 220k
Techn|ca| $81 - 110k $81 - 110k $111 - 200k $111 - 200k
EHS $71 - 110k $78 - 120k $111 - 220k $121 - 220k
Process $86 - 105k $78 - 100k $106 - 150k $101 - 150k
E|ectron|cs $71 - 110k $71 - 110k $111 - 150k $111 - 150k
Product $71 - 110k $71 - 110k $111 - 150k $111 - 150k
Oua||ty Assurance $71 - 110k $71 - 110k $111 - 150k $111 - 150k
Serv|ce $81 - 110k $71 - 110k $111 - 150k $111 - 150k
Product|on/Manufactur|ng $71 - 110k $65 - 104k $111 - 150k $105 - 150k
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
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HUMAN RSOURCS
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Our ded|cated human resources d|v|s|on
recru|ts for genera||st and spec|a||st HR
pos|t|ons on a permanent and contract
bas|s across major |ndustry sectors
|nc|ud|ng f|nanc|a| serv|ces, FMOG,
|nformat|on techno|ogy, te|ecommun|cat|ons,
pharmaceut|ca|, hea|thcare, rea|
estate, reta||, hosp|ta||ty, |ndustr|a|
sem|conductor/eng|neer|ng, o|| and gas,
chem|ca|s and profess|ona| serv|ces. We
spec|a||se |n p|ac|ng HR profess|ona|s w|th a
m|n|mum of three years` exper|ence |n jun|or
management through to sen|or d|rector |eve|.
Market Overv|ew
2009 proved to be a cha||eng|ng year for
the S|ngapore HR market. W|th g|oba|
headquarters |mp|ement|ng h|r|ng freezes
across the board, recru|tment act|v|ty was
great|y reduced. Wh||e some areas of HR saw
a greater number of redundanc|es than others,
the number of HR profess|ona|s retrenched
was re|at|ve|y |ow. Sa|ary |ncrements were kept
at a m|n|mum w|th compan|es tak|ng proact|ve
measures to m|n|m|se costs.
F|nanc|a| and Profess|ona| Serv|ces
2008 ended on a caut|ous note for the
f|nanc|a| and profess|ona| serv|ces sectors as
organ|sat|ons strugg|ed to make sense of the
|mpact of the g|oba| cred|t cr|s|s. Throughout
the f|rst ha|f of 2009 these organ|sat|ons
|mp|emented redundancy programmes, h|r|ng
freezes and var|ous cost-cutt|ng measures to
cope w|th the sudden market downturn.
The consu|tancy |ndustry exper|enced a
reduct|on |n h|r|ng due to the term|nat|on
of ant|c|pated projects. Wh||st the demand
for HR profess|ona|s sharp|y dec||ned at a||
|eve|s, some f|nanc|a| organ|sat|ons took the
opportun|ty to h|re externa| ta|ent to strengthen
the|r HR teams. Demand was part|cu|ar|y
strong for HR bus|ness partners and rewards
spec|a||sts at the m|dd|e management |eve|.
The demand for contract HR profess|ona|s
a|so |ncreased due to M&A act|v|ty, matern|ty
cover and cha||enges |n secur|ng permanent
headcount. Ouarter three saw a gradua|
recovery of the market, w|th |n-house
recru|tment spec|a||sts |ead|ng the way as
f|nanc|a| organ|sat|ons pos|t|oned themse|ves
for more robust h|r|ng act|v|ty |n 2010.
Recru|tment for mob|||ty, |earn|ng and ta|ent
deve|opment profess|ona|s a|so ga|ned
momentum towards the end of 2009.
Commerce and Industry
The commerce and |ndustry sectors
|nc|ud|ng FMOG, lT and te|ecommun|cat|ons,
hea|thcare, reta|| and |ndustr|a| were a||
affected by the f|nanc|a| cr|s|s. Wh||e
redundanc|es were m|n|ma|, compan|es
|mp|emented sa|ary and headcount freezes to
manage costs. H|r|ng act|v|t|es w|th|n the HR
d|sc|p||ne were ma|n|y due to rep|acements,
and |ess through organ|c growth.
Many g|oba| organ|sat|ons took the
opportun|ty to rev|ew the|r ex|st|ng HR
structures and processes |n 2009. As a resu|t,
HR pos|t|ons at reg|ona| and country |eve|s
were often re-crafted to ensure more eff|c|ent
de||very of serv|ce to the bus|ness.
Sen|or HR profess|ona|s w|th a proven
track record |n bus|ness partner|ng and
organ|sat|ona| deve|opment were h|gh|y
sought-after as more bus|ness |eaders
gradua||y recogn|sed the va|ue HR br|ngs
to management and the organ|sat|on. The
demand for compensat|on and benef|ts
profess|ona|s w|th reg|ona| exper|ence
|n part|cu|ar rema|ned steady |n 2009,
compared to mob|||ty and recru|tment
profess|ona|s, where we saw |ower than
norma| demand. FMOG and hea|thcare
rema|ned the top |ndustry sectors of cho|ce for
HR profess|ona|s.
Out|ook for 2010
We expect 2010 to be a more prom|s|ng
year as organ|sat|ons beg|n to recover from
the g|oba| cred|t cr|s|s and |ook to h|re the
best ta|ent to prepare for a susta|ned market
upturn. Wh||st sa|ar|es w||| rema|n stab|e, we
foresee organ|sat|ons pay|ng a prem|um to
attract strong HR profess|ona|s. ln part|cu|ar,
HR genera||sts w|th strengths |n ta|ent
management at the m|d to sen|or |eve| w||| be
|n demand as organ|sat|ons start to p|ace a
greater emphas|s on ta|ent attract|on, retent|on
and management as a key bus|ness strategy.
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ROL PRMANN1 SALARY PR ANNUM $SGD
3 - 6 YRS' XP 6 - 12 YRS' XP 12+ YRS' XP
2009 2010 2009 2010 2009 2010
Commerce and Industry
Organ|sat|ona| Deve|opment
Spec|a||st
$90 - 240k $90 - 250k $240 - 300k+ $250 - 320k+
HR Genera||st/Bus|ness Partner $55 - 105k $55 - 110k $105 - 165k $110 - 180k $165 - 400k+ $180 - 400k+
Oompensat|on and Benef|ts
Spec|a||st
$55 - 105k $55 - 110k $105 - 165k $110 - 180k $165 - 250k+ $180 - 300k +
Tra|n|ng and Deve|opment
Spec|a||st
$55 - 90k $55 - 90k $90 - 165k $90 - 165k $165 - 250k+ $165 - 250k+
Recru|tment Spec|a||st $50 - 75k $50 - 75k $75 - 120k $75 - 120k $120 - 250k+ $120 - 250k+
HRlS Spec|a||st $45 - 75k $45 - 75k $75 - 120k $75 - 120k $120 - 170k+ $120 - 170k+
Mob|||ty Spec|a||st $40 - 60k $40 - 60k $60 - 95k $60 - 95k $95 - 145k+ $95 - 145k+
Payro|| Spec|a||st $35 - 50k $35 - 50k $50 - 80k $50 - 80k $80 - 110k+ $80 - 110k +
Bank|ng and F|nanc|a| Serv|ces
Oompensat|on and Benef|ts
Spec|a||st
$60 - 120k $60 - 125k $120 - 200k $125 - 215k $200 - 270k+ $215 - 300k+
HR Genera||st/Bus|ness Partner $55 - 105k $55 - 115k $105 - 165k $115 - 185k $165 - 400k+ $185 - 400k+
Organ|sat|ona| Deve|opment
Spec|a||st
$55 - 90k $55 - 90k $90 - 240k $90 - 250k $240 - 300k+ $250 - 320k+
Tra|n|ng and Deve|opment
Spec|a||st
$55 - 90k $55 - 90k $90 - 170k $90 - 170k $170 - 250k+ $170 - 250k+
Recru|tment Spec|a||st $55 - 85k $55 - 85k $85 - 140k $85 - 140k $140 - 275k+ $140 - 275k+
HRlS Spec|a||st $50 - 75k $50 - 75k $75 - 160k $75 - 160k $160 - 200k+ $160 - 200k+
Mob|||ty Spec|a||st $40 - 70k $40 - 70k $70 - 120k $70 - 120k $120 - 190k+ $120 - 190k+
Payro|| Spec|a||st $35 - 50k $35 - 50k $50 - 80k $50 - 80k $80 - 100k+ $80 - 100k+
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
F|gures w||| vary dependent on whether the |ncumbent |s ho|d|ng a reg|ona|/g|oba| ro|e.
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Our |nformat|on techno|ogy recru|tment
d|v|s|on recru|ts m|d to sen|or |eve| lT and
te|ecommun|cat|ons profess|ona|s across
permanent and contract ass|gnments. These
range from ana|yst programmers, so|ut|ons
arch|tects, pre sa|es consu|tants and project
managers through to ch|ef |nformat|on off|cers,
as we|| as ro|es spann|ng techno|ogy and
bus|ness doma|ns such as bus|ness ana|ys|s,
lT aud|t, r|sk management and serv|ce de||very.
Market Overv|ew
Commerce and Industry
Recru|tment |eve|s w|th|n the end user
space rema|ned s|gn|f|cant|y |ow |n 2009,
|ead|ng to stat|c sa|ar|es w|th on|y modest
|ncrements for some. Th|s can be attr|buted to
organ|sat|ons rev|ew|ng the|r lT cap|ta| budgets
at the end of 2008 due to cost pressures,
wh|ch forced many compan|es to focus on
resource rea||gnment, cost opt|m|sat|on,
qua||ty |mprovement and reduct|on |n spend.
Neverthe|ess, we observed s|gns of recovery
|n the f|na| quarter of the year and there
cont|nued to be a ||m|ted but cons|stent
demand for system arch|tects, app||cat|on
support spec|a||sts, serv|ce de||very managers
and exper|enced SAP consu|tants w|th
bus|ness process know|edge.
F|nanc|a| Serv|ces
The f|rst quarter of 2009 saw m|n|ma| h|r|ng
w|th|n the f|nanc|a| serv|ces |ndustry. We saw
many mergers and acqu|s|t|ons throughout
the year, w|th severa| 'cash strapped' f|nanc|a|
|nst|tut|ons be|ng acqu|red or merged w|th
more stab|e compet|tors. ln response to
uncerta|n market cond|t|ons, emp|oyers
focused on contractua| rather than permanent
h|res. Fortunate|y, sent|ment |mproved towards
the second quarter, w|th a number of g|oba|
banks off-shor|ng funct|ons from h|gh cost
|ocat|ons |n Europe and the S to countr|es
w|th|n As|a Pac|f|c. S|ngapore benef|ted from
th|s trend w|th |arge organ|sat|ons sett|ng up
and expand|ng lT hubs |oca||y. Permanent
h|r|ng a|so started to p|ck up |n the second
quarter, part|cu|ar|y for project management,
software deve|opment and support funct|ons,
w|th an emphas|s on profess|ona|s who he|d
both techn|ca| and funct|ona| sk|||s.
Techno|ogy Vendors, Consu|t|ng and
Te|ecommun|cat|ons
The techno|ogy and te|ecommun|cat|ons
sectors were not exempt from the g|oba|
f|nanc|a| cr|s|s, as organ|sat|ons across a||
|ndustr|es s|gn|f|cant|y reduced techno|ogy and
te|ecommun|cat|ons spend. As the major|ty of
organ|sat|ons she|ved or de|ayed techno|ogy
upgrades for 2009, consu|t|ng and system
|ntegrat|on bus|nesses were bad|y affected
dur|ng the f|rst ha|f of the year. |arger vendors
w|th mu|t|-serv|ce capab|||t|es fared better
due to |ncreased demand |n outsourc|ng
serv|ces, as compan|es focused on dr|v|ng
cost sav|ngs, eff|c|ency, econom|es of sca|e
and mov|ng assets off ba|ance sheets. On a
pos|t|ve note, the second ha|f of 2009 saw an
|ncrease |n h|r|ng across the board and sp|kes
|n demand for so|ut|ons arch|tects, serv|ce
de||very managers, pre sa|es profess|ona|s and
secur|ty spec|a||sts.
Contract
Oontract recru|tment vo|umes dec||ned
dur|ng ear|y 2009 as organ|sat|ons focused
on conta|n|ng the effects of the g|oba|
cred|t cr|s|s. However, as the economy
stab|||sed |n the second ha|f of the year,
many organ|sat|ons c|rcumvented headcount
restr|ct|ons by offer|ng contract ro|es. The
|ncreased demand for contractors was most
not|ceab|e |n the f|nanc|a| serv|ces sector
as f|rms |ooked to rebound qu|ck|y and stay
ahead of the compet|t|on. Techno|ogy and
te|ecommun|cat|ons compan|es a|so reacted
prompt|y to the market upturn and made use
of the |arger poo| of h|gh|y qua||f|ed ta|ent
ava||ab|e for contract work. However, due
to ||m|ted growth, the |og|st|cs, e|ectron|cs,
manufactur|ng and eng|neer|ng sectors d|d
not exper|ence a s|m||ar resurgence. Key
sk|||s |n demand w|th|n the lT contract market
|nc|uded project managers, SAP consu|tants,
bus|ness ana|ysts and arch|tectura| pos|t|ons,
w|th sa|ar|es for these ro|es rema|n|ng buoyant.
Out|ook for 2010
A number of |ead|ng f|nanc|a| serv|ces
|nst|tut|ons have announced major expans|on
p|ans and techno|ogy |n|t|at|ves for As|a
Pac|f|c, w|th s|gn|f|cant |nvestments a||ocated
to S|ngapore. Th|s w||| dr|ve demand |n
software deve|opment and app||cat|ons
support across a|| |eve|s. ln the end-user
markets (|nc|ud|ng FMOG, pharmaceut|ca|s,
manufactur|ng, |og|st|cs and o|| and gas}, a
gradua| |ncrease |n h|r|ng act|v|ty |s expected
w|th an emphas|s on project management,
reg|ona| management and serv|ce de||very
ro|es.
ln the techno|ogy and te|ecommun|cat|ons
sectors, we expect to see re|at|ve|y sharp
|ncreases |n h|r|ng across pre sa|es, managed
serv|ces, profess|ona| serv|ces and the
outsourc|ng of re|ated ro|es. Oontract h|r|ng
|s ||ke|y to represent a s|gn|f|cant percentage
of th|s, part|cu|ar|y |n programme/project
management, systems |mp|ementat|on and
software deve|opment, as compan|es rema|n
uncerta|n of |ong-term econom|c stab|||ty.
The g|oba| recess|on resu|ted |n an |ncreased
poo| of ava||ab|e contract cand|dates, |ead|ng
to |ower sa|ar|es across the market, part|cu|ar|y
at the jun|or end. However, desp|te cha||eng|ng
market cond|t|ons |n 2009, the f|nanc|a|
serv|ces |ndustry cont|nued to offer h|gher
contract|ng rates than other sectors and we
expect th|s to cont|nue |nto 2010. Towards
the end of the year, we expect sa|ar|es and
contract rates across the board to return to
|eve|s w|tnessed |n ear|y 2008.
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ROL
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SALARY PR ANNUM $SGD
CON1RAC1
RA1 PR DAY $SGD
2009 2010 2009 2010
Oh|ef lnformat|on Off|cer/Oh|ef Techno|ogy Off|cer $350k+ $350+
Programme Manager $200 - 350k $200 - 350k $1100 - 1500 $1100 - 1400
D|rector - Serv|ce De||very $200 - 320k $200 - 300k $800 - 1200 $750 - 1200
lT D|rector $180 - 350k $180 - 350k $900 - 1400 $900 - 1400
lT R|sk and Oomp||ance D|rector $150 - 250k $160 - 280k $700 - 1000 $700 - 1000
Manager - lnfrastructure Serv|ces $170 - 240k $160 - 240k $700 - 1000 $700 - 1000
Manager - Deve|opment $170 - 240k $160 - 240k $750 - 1000 $750 - 1000
Manager - lT $160 - 240k $150 - 240k $800 - 1000 $800 - 1000
App||cat|on Support Manager $150 - 200k $140 - 200k
Manager - Data Oentre $130 - 180k $130 - 180k $600 - 900 $600 - 900
Manager - Test|ng - App||cat|ons and lnfrastructure $130 - 180k $130 - 180k $500 - 800 $500 - 750
Manager - Serv|ce De||very $120 - 140k $130 - 160k $500 - 700 $500 - 700
ERP Project Manager (7+ yrs` exp} $120 - 190k $120 - 190k $800 - 1200 $800 - 1200
Project Manager (5+ yrs` exp} $120 - 190k $120 - 190k $600 - 1000 $550 - 1000
Sen|or Oonsu|tant (8+ yrs` exp} $130 - 180k $120 - 180k $500 - 750 $500 - 750
Manager - MlS $120 - 170k $120 - 170k $650 - 850 $600 - 800
Bus|ness Ana|yst (5+ yrs` exp} $120 - 180k $110 - 180k $400 - 650 $350 - 600
lT R|sk and Oomp||ance Manager $90 - 150k $100 - 180k $450 - 650 $450 - 650
Manager - He|p Desk $100 - 170k $100 - 170k $450 - 700 $450 - 650
lnfrastructure Secur|ty Spec|a||st $90 - 140k $90 - 150k $450 - 650 $450 - 650
ERP Oonsu|tant Funct|ona| (5 - 8 yrs` exp} $90 - 140k $90 - 140k $500 - 900 $500 - 900
Oonsu|tant (3 - 5 yrs` exp} $90 - 140k $80 - 140k $300 - 550 $300 - 500
EAl M|dd|eware Spec|a||st $80 - 130k $80 - 120k $350 - 550 $350 - 550
Project Manager (3 - 5 yrs` exp} $80 - 120k $80 - 120k $400 - 500 $400 - 500
App||cat|on Support Ana|yst (5+ yrs` exp} $90 - 120k $80 - 120k $350 - 500 $350 - 500
Bus|ness Ana|yst (3 - 5 yrs` exp} $70 - 120k $80 - 120k $350 - 450 $300 - 400
ERP Oonsu|tant Techn|ca| (3 - 5 yrs` exp} $80 - 100k $80 - 100k $300 - 450 $300 - 450
Network Support Ana|yst (5+ yrs` exp} $70 - 120k $70 - 120k $300 - 450 $300 - 450
He|p Desk/Desktop Support (5+ yrs` exp} $70 - 100k $70 - 100k $190 - 275 $200 - 275
App||cat|on Support Ana|yst (3 - 5 yrs` exp} $60 - 90k $60 - 90k $250 - 350 $250 - 350
Oapac|ty P|ann|ng Eng|neer (3 - 5 yrs` exp} $60 - 90k $60 - 90k
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|ons.
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CON1RAC1
RA1 PR DAY $SGD
2009 2010 2009 2010
Sen|or So|ut|ons Manager - lT&T (10+ yrs' exp} $180 - 280k $200 - 290k
Techn|ca| Sa|es Manager (8+ yrs` exp} $175 - 260k $175 - 275k
Pre Sa|es Oonsu|tant (8+ yrs` exp} $170 - 200k $170 - 220k
Software Arch|tect (10+ yrs` exp} $140 - 200k $130 - 200k $700 - 1000 $700 - 1000
So|ut|on Arch|tect $140 - 200k $130 - 200k $500 - 800 $500 - 800
Pre Sa|es Oonsu|tant (5 - 8 yrs' exp} $110 - 170k $120 - 180k
Software Eng|neer - Java, 00, O++ (5+ yrs` exp} $90 - 140k $80 - 130k $300 - 400 $300 - 400
Database Adm|n|strator (5 - 8 yrs` exp} $90 - 130k $80 - 120k $325 - 450 $325 - 425
Systems Adm|n|strator - n|x, NT, Nove|| (5 - 8 yrs` exp} $90 - 120k $80 - 120k $275 - 400 $275 - 425
Pre Sa|es Oonsu|tant (3 - 5 yrs' exp} $70 - 100k $80 - 120k
Systems Ana|yst (5+ yrs` exp} $70 - 110k $70 - 100k $300 - 400 $300 - 400
Ma|nframe Ana|yst Programmer (6+ yrs` exp} $80 - 90k $70 - 90k $200 - 225 $200 - 225
Tester (5+ yrs` exp} $60 - 100k $60 - 90k $300 - 450 $275 - 400
Systems Adm|n|strator - n|x, NT, Nove|| (3 - 5 yrs` exp} $60 - 90k $60 - 90k $225 - 325 $225 - 300
Database Adm|n|strator (3 - 5 yrs` exp} $60 - 90k $60 - 90k $225 - 325 $200 - 300
Software Eng|neer - Java, 00, O++ (3 - 5 yrs` exp} $60 - 90k $60 - 90k $200 - 300 $200 - 300
Ma|nframe Ana|yst Programmer (3+ yrs` exp} $60 - 80k $60 - 80k $175 - 200 $175 - 200
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
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Our |ega| & comp||ance team |n S|ngapore
hand|es cont|ngent and reta|ned ass|gnments
across pr|vate pract|ce, |n-house and f|nanc|a|
serv|ces. Our ta|ent network |nc|udes both
|oca||y and |nternat|ona||y qua||f|ed |awyers w|th
spec|a||sat|ons across a var|ety of |ndustr|es.
Market Overv|ew
W|th the econom|c downturn affect|ng
compan|es across a|| |ndustr|es |n 2009, the
s|owdown |n dea| f|ow and transact|ons had
an |mmed|ate |mpact on the |ega| profess|on.
The major|ty of recru|tment act|v|ty was put on
ho|d unt|| the th|rd quarter of 2009 when we
saw a gradua| |ncrease |n h|r|ng needs.
ln pr|vate pract|ce, redundanc|es and requests
for vo|untary sabbat|ca|s were not uncommon
throughout the ear|y part of the year as |aw
f|rms faced revenue pressures and attempted
to reduce costs. A number of f|rms sought
to rea||ocate |nterna| resources by second|ng
|awyers from spec|a||st areas w|th ||tt|e act|v|ty,
to those areas w|th more tract|on.
W|th|n commerc|a| organ|sat|ons, a caut|ous
market out|ook |ed to a conservat|ve demand
for |n-house counse|s. ||m|ted h|r|ng was
seen at the more jun|or to m|d-|eve|, as se|ect
organ|sat|ons |n the FMOG, pharmaceut|ca|s
and lT and te|ecommun|cat|ons |ndustr|es
cont|nued ta|ent acqu|s|t|on strateg|es to
benef|t from the cand|date r|ch h|r|ng market.
Add|t|ona||y, w|th more regu|atory burden |n the
bus|ness |andscape, some key requ|rements
were seen for spec|a||st |ega| pos|t|ons, w|th
demand for spec|f|c sk||| sets |n the areas of
eth|cs, comp||ance and po||c|es.
ln the f|nanc|a| serv|ces sector, the |ncrease |n
regu|atory and ||t|gat|on cases be|ng brought
before the courts |n 2009 saw some f|nanc|a|
organ|sat|ons opt|ng to h|re |ega| profess|ona|s
on f|xed term contracts to ass|st w|th t|me
sens|t|ve cases.
W|th|n f|nanc|a| serv|ces, redundanc|es were
commonp|ace and h|res were on|y made for
the most cr|t|ca| pos|t|ons and rep|acements.
Some rep|acement ro|es |nc|uded bus|ness
support areas - such as commod|t|es trad|ng
or genera||st jun|or pos|t|ons that catered
to vo|ume work|oad that was be|ng shared
across teams.
The comp||ance funct|on w|th|n f|nanc|a|
serv|ces was focused on regu|atory or
po||cy-re|ated work as f|nanc|a| organ|sat|ons
|ooked to conta|n the fa||out of the econom|c
cr|s|s. We saw a strong emphas|s on po||t|ca||y
sens|t|ve areas perta|n|ng to tax evas|on,
money |aunder|ng and structured products
sa|es.
Many |nst|tut|ons a|so pu||ed back |nvestments
|n comp||ance systems as a cost-cutt|ng
measure, but rea||ocated the budget back
towards the end of 2009 as a resu|t of
|ncreased regu|atory pressures for more robust
comp||ance mode| frameworks.
Out|ook for 2010
The out|ook for 2010 w||| h|nge on the vo|ume
of transact|ona| dea| f|ow and any further
deve|opments |n the regu|atory |andscape.
Transact|on dea| f|ow does |ook set to |mprove
|n 2010 w|th the return of M&A and |nvestment
bank|ng act|v|t|es. These |n turn w||| determ|ne
the demand for |ega| profess|ona|s tasked
w|th ensur|ng such market act|v|t|es are |ega||y
comp||ant.
|oca| regu|ators w||| be expect|ng cont|nued
|nvestment |n comp||ance |nfrastructure,
wh|ch shou|d prove pos|t|ve for the more
operat|ona| areas, such as mon|tor|ng and
surve|||ance. We env|sage se|ect treasury
product spec|a||sts w||| a|so be |n demand
throughout 2010.
Defens|ve commerc|a| |ndustr|es are ||ke|y
to rema|n stab|e |n 2010, as we|| as re|ated
areas that requ|re spec|a||sed work around
|nte||ectua| property, c||n|ca| tr|a|s and
regu|atory |aws. The entry of fore|gn |aw f|rms
under a more re|axed regu|atory env|ronment
shou|d a|so encourage opt|m|sm pend|ng
demand recovery |n the broader markets.
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ROL PRMANN1 SALARY PR ANNUM $SGD
ANALYS1 OR
1 - 4 YRS' XP
MANAGR/AVP OR
4 - 8 YRS' XP
VIC PRSIDN1/HOD OR
8+ YRS' XP
2009 2010 2009 2010 2009 2010
F|nanc|a| Serv|ces
Lega|
lnvestment Bank|ng/Der|vat|ves $40 - 80k $40 - 80k $80 - 155k $80 - 160k $160 - 350k+ $160 - 350k
lnvestment/Wea|th Management $40 - 75k $40 - 75k $70 - 160k $75 - 160k $165 - 350k+ $160 - 350k
Oorporate Secretar|a| $40 - 70k $40 - 70k $70 - 125k $70 - 120k $125 - 280k+ $120 - 280k
Comp||ance
G|oba| Markets $40 - 65k $40 - 65k $65 - 155k $65 - 155k $155 - 350k+ $155 - 350k+
Oontro| Group $40 - 65k $40 - 65k $65 - 155k $65 - 155k $155 - 350k+ $155 - 300k+
lnvestment/Wea|th Management $40 - 60k $40 - 65k $60 - 140k $65 - 140k $140 - 300k+ $140 - 300k
AM|/Mon|tor|ng $40 - 55k $40 - 60k $55 - 130k $60 - 140k $130 - 270k+ $140 - 280k
Commerce and Pr|vate Pract|ce
Lega|
Oh|ef |ega| Off|cer $400 - 500k+ $350 - 425k
lnte||ectua| Property and
Techno|ogy
$50 - 95k $50 - 95k $95 - 185k $95 - 180k $185 - 400k+ $180 - 380k
Oorporate and Oommerc|a| $50 - 95k $50 - 100k $95 - 185k $100 - 185k $185 - 400k+ $185 - 380k
||t|gat|on and D|spute Reso|ut|on $50 - 90k $50 - 100k $95 - 175k $100 - 180k $175 - 400k+ $180 - 380k
F|nanc|a| Serv|ces $50 - 100k $50 - 100k $100 - 190k $100 - 180k $190 - 400k+ $180 - 380k
Oorporate Rea| Estate $50 - 90k $50 - 90k $90 - 165k $90 - 165k $165 - 400k+ $165 - 380k
Para|ega| $30 - 50k $30 - 50k $50 - 75k $50 - 75k $75 - 100k+ $75 - 100k
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
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Our sa|es & market|ng d|v|s|on spec|a||ses
|n the permanent and contract recru|tment
of m|d to sen|or |eve| profess|ona|s
across a|| d|sc|p||nes w|th|n f|nanc|a| and
profess|ona| serv|ces; eng|neer|ng, o|| and
gas and chem|ca|s; FMOG; consumer
e|ectron|cs; |nformat|on techno|ogy and
te|ecommun|cat|ons; pharmaceut|ca|s and
hea|thcare; med|a and reta||.
Market Overv|ew
Consumer E|ectron|cs
The consumer e|ectron|cs |ndustry rema|ned
stagnant dur|ng the f|rst ha|f of 2009. However,
h|r|ng |ncreased towards the end of quarter
three, w|th a focus on m|d to sen|or |eve|
pos|t|ons. Oand|dates w|th exper|ence |n reta||
deve|opment were h|gh|y sought-after as the
major p|ayers a|med to deve|op the|r brand
presence at the reta|| |eve|.
F|nanc|a| Serv|ces
Oompan|es w|th|n f|nanc|a| serv|ces began to
post pos|t|ve bus|ness resu|ts |n quarter two
of 2009 wh|ch d|rect|y affected recru|tment
act|v|ty. We saw an |ncrease |n h|r|ng
|eve|s w|th|n the consumer and pr|vate
bank|ng |ndustry, spec|f|ca||y for corporate
commun|cat|ons and pub||c re|at|ons
profess|ona|s across a|| |eve|s.
Eng|neer|ng/O|| and Gas/Chem|ca|s
Recru|tment act|v|ty w|th|n these sectors was
heav||y affected by the g|oba| cred|t cr|s|s.
Oompan|es rema|ned caut|ous |n the|r h|r|ng
and focused on |nterna| mob|||ty to br|dge the
gap. The energy, construct|on, av|at|on MRO
(ma|ntenance repa|r overhau|} and secur|ty
|ndustr|es saw ||m|ted recru|tment act|v|ty for
sa|es profess|ona|s |n the f|rst ha|f of 2009,
w|th s||ght recovery occurr|ng |n the |ast two
quarters of the year.
The o|| and gas, chem|ca|s and re|ated mar|ne
and eng|neer|ng |ndustr|es exper|enced
m|n|ma| recru|tment act|v|ty, however
compan|es cont|nued the f|ght for the very
best ta|ent |n a t|ght env|ronment. Attract|ng
ta|ent w|th h|gh|y spec|f|c product and
techn|ca| know|edge rema|ned the key
cha||enge for many organ|sat|ons |n 2009.
We a|so saw h|gher demand for |oca|
and reg|ona| sa|es managers, bus|ness
deve|opment managers, sa|es d|rectors
and genera| managers throughout the year.
lnd|v|dua|s who possessed the ab|||ty to de||ver
|mmed|ate resu|ts were h|gh|y sought-after at
a|| |eve|s.
FMCG
Recru|tment |eve|s |n the FMOG |ndustry
rema|ned hea|thy desp|te the econom|c
downturn; th|s was due to both rep|acement
and new|y created ro|es. Rep|acement ro|es
arose as a resu|t of attr|t|on, as other |ndustr|es
cont|nued to target cand|dates w|th FMOG
sa|es and market|ng exper|ence. Food and
beverage manufacturers, |n ant|c|pat|on of the
market upturn and potent|a| growth, created
new ro|es to better prepare themse|ves for
upcom|ng demands from new channe|s such
as the |ntegrated resorts. Ro|es |n demand
|nc|uded brand management, customer
deve|opment and key account management.
Ohanges |n the m|ndsets of trade customers
a|so |ed to demand for profess|ona|s w|th
exper|ence w|th|n shopper |ns|ght and
customer market|ng.
Hea|thcare
2009 saw further conso||dat|on |n the
pharmaceut|ca| |ndustry and expans|on |n
the med|ca| dev|ces |ndustry. As a resu|t,
many profess|ona|s from the pharmaceut|ca|
sector moved |nto med|ca| dev|ces. There was
demand for more spec|a||sed funct|ons, such
as sa|es force effect|veness, sa|es tra|n|ng and
med|ca| educat|on. Ohanges |n regu|at|ons
a|so created a shortage of cand|dates w|th
regu|atory affa|rs exper|ence.
IT and Te|ecommun|cat|ons
The f|rst two quarters of 2009 saw
caut|ous h|r|ng from compan|es |n the lT
and te|ecommun|cat|ons |ndustry. Many
organ|sat|ons took the opportun|ty to
restructure bus|ness operat|ons, wh|ch |ed to
se|ect retrenchments and up-sk||||ng |n spec|f|c
areas throughout quarter three.
Typ|ca| ro|es be|ng h|red |n the f|rst ha|f of
the year were at the m|dd|e to sen|or |eve|
for bus|ness deve|opment, channe|s and
d|rect sa|es profess|ona|s. Spec|f|c ro|es |n
demand were focused on so|ut|on se|||ng w|th
|nd|v|dua|s possess|ng exper|ence |n un|f|ed
commun|cat|ons, data centres, v|rtua||sat|on,
managed serv|ces/host|ng and/or secur|ty.
W|th|n the lOT sector, the major|ty of h|r|ng
act|v|ty came from the te|ecommun|cat|ons
area as organ|sat|ons cont|nued to expand
the|r portfo||os and pos|t|on themse|ves more
as system |ntegrators.
Reta||
Expans|on |n reta|| deve|opments drove the
demand for reta|| operat|ons profess|ona|s.
However, the ta|ent poo| shrank as the cr|ter|a
|n h|r|ng changed due to an |ncreased focus
on |mprov|ng serv|ce standards |n S|ngapore.
Th|s sector cont|nued to face the cha||enge
of |dent|fy|ng and attract|ng h|gh ca||bre ta|ent
w|th strong customer serv|ce exposure.
Out|ook for 2010
We ant|c|pate that compan|es w||| take a more
opt|m|st|c v|ew on h|r|ng for rep|acement
pos|t|ons throughout 2010. ln terms of
add|t|ona| headcount, we ant|c|pate that h|r|ng
act|v|ty |n the f|rst quarter w||| rema|n caut|ous
as organ|sat|ons assess the economy's rate of
recovery from the f|nanc|a| cr|s|s. However, we
do fu||y expect to see an |ncrease |n demand
for revenue generat|ng ro|es, part|cu|ar|y
those |n the bus|ness deve|opment and sa|es
funct|ons across a mu|t|tude of |ndustr|es.
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ROL PRMANN1
SALARY PR ANNUM $SGD
2009 2010
Genera| Manager/Manag|ng D|rector (6+ yrs` exp} $200 - 300k+ $200 - 300k+
Sa|es and Market|ng D|rector (8+ yrs` exp} $160 - 230k+ $150 - 230k+
Market|ng D|rector (6+ yrs` exp} $155 - 220k+ $150 - 220k+
Sa|es D|rector (8+ yrs` exp} $140 - 210k+ $140 - 220k+
Market|ng Research D|rector (6+ yrs` exp} $140 - 200k $140 - 200k
Account D|rector (8+ yrs` exp} $140 - 210k $130 - 210k
Bus|ness Deve|opment Manager (8+ yrs` exp} $130 - 200k+ $130 - 200k+
Pub||c Re|at|ons D|rector (8+ yrs` exp} $135 - 190k+ $130 - 190k
Market|ng Oommun|cat|ons Manager (6+ yrs` exp} $120 - 180k+ $120 - 180k+
Oa|| Oentre Manager (8+ yrs` exp} $110 - 120k $100 - 125k
Market|ng Research Manager (4 - 5 yrs` exp} $90 - 140k $90 - 140k
Sa|es and Market|ng Manager (4 - 7 yrs` exp} $90 - 150k $85 - 140k
Market|ng Manager (4 - 5 yrs` exp} $80 - 140k $80 - 140k
Sa|es Manager (4 - 5 yrs` exp} $85 - 150k $80 - 140k
Pub||c Re|at|ons Manager (4 - 7 yrs` exp} $85 - 130k $80 - 130k
Ohanne| Manager (5 - 8 yrs` exp} $85 - 130k $80 - 130k
Bus|ness Deve|opment Manager (4 - 7 yrs' exp} $85 - 120k $80 - 125k
D|rect Market|ng Manager (5+ yrs` exp} $80 - 120k $80 - 120k
Brand Manager (4+ yrs` exp} $85 - 100k $80 - 100k
Product Market|ng Manager (5 - 8 yrs` exp} $70 - 120k $70 - 120k
Aftersa|es Manager (5 - 8 yrs` exp} $70 - 120k $70 - 110k
Market|ng Oommun|cat|ons Manager (4 - 5 yrs` exp} $75 - 110k $70 - 110k
v|sua| Merchand|s|ng Manager (4 - 5 yrs` exp} $80 - 100k $70 - 100k
Trade Market|ng Manager (4 - 5 yrs` exp} $75 - 100k $70 - 100k
Account Manager (4 - 5 yrs` exp} $75 - 90k $70 - 90k
Oampa|gn Manager (3 - 5 yrs` exp} $60 - 95k $60 - 95k
Ass|stant Brand Manager (3 - 4 yrs` exp} $50 - 80k $50 - 80k
Sa|es Eng|neer (3 - 4 yrs` exp} $40 - 60k $40 - 60k
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
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Our secretar|a| & support d|v|s|on spec|a||ses
|n the p|acement of secretar|a| and bus|ness
support staff |nto the f|nanc|a| serv|ces and
commerc|a| sectors. The d|v|s|on focuses
on permanent and contract recru|tment and
covers a broad range of ro|es |nc|ud|ng:

Adm|n|strators

Oa|| centre managers

Oustomer serv|ce representat|ves

Data entry c|erks

Event coord|nators

Execut|ve ass|stants

lnvestment bank|ng secretar|es

|ega| secretar|es

Med|ca| secretar|es

Off|ce managers

Persona| ass|stants/sen|or secretar|es

Project coord|nators

Recept|on|sts

Sw|tchboard operators

Team secretar|es
Market Overv|ew
The demand for secretar|a| profess|ona|s |n
both the f|nanc|a| serv|ces and commerce
sectors was re|at|ve|y |ow |n the f|rst ha|f of
2009 as bus|nesses were re|uctant to add
permanent headcount g|ven the uncerta|n
econom|c cond|t|ons. ln contrast, demand
for contract and temporary staff rema|ned
cons|stent|y h|gh throughout th|s per|od and
sk|||ed support staff ava||ab|e at short not|ce
were h|gh|y sought-after.
We saw an |ncrease |n sen|or bank|ng h|res
w|th|n the f|nanc|a| serv|ces |ndustry |n the
second ha|f of 2009. Th|s subsequent|y |ed to
he|ghtened demand for exper|enced sen|or
secretar|es, part|cu|ar|y from the commerce
|ndustry. We saw many of these sen|or
bank|ng h|res be|ng transferred from overseas,
ma|n|y from the SA and Europe, and there
was a correspond|ng demand for expatr|ate
secretar|es w|th exper|ence |n |nternat|ona|
f|nanc|a| markets.
ln the commerce sector, we exper|enced
a steady growth |n the h|r|ng of secretar|a|
and support staff throughout 2009 wh|ch
came ma|n|y from the FMOG, consu|t|ng
and pharmaceut|ca| |ndustr|es. The |ega|
|ndustry a|so saw cons|derab|e movement
|n the second ha|f of 2009 and demand for
exper|enced |ega| secretar|es w|th off-shore
exper|ence rema|ned cons|stent|y h|gh.
2009 saw a dramat|c |ncrease |n compan|es
from the f|nanc|a| serv|ces and |ega| sectors
mov|ng to S|ngapore to set up As|an off|ces
- w|th act|v|ty most notab|e from hedge fund
and pr|vate |nvestment compan|es, |n add|t|on
to off-shore |aw f|rms. Many were sma||
organ|sat|ons wh|ch requ|red exper|enced
off|ce managers to he|p |n the set up phase
and the |ong-term operat|ons of the bus|ness.
The r|se of temporary-to-permanent job offers
cont|nued, w|th many compan|es us|ng the
strategy as a way to reduce h|r|ng r|sks.
Such offers prov|ded both cand|dates and
emp|oyers w|th the opportun|ty to tr|a| the
emp|oyee/company f|t before comm|tt|ng to a
|ong-term contract.
There was |ncreas|ng demand across the
secretar|a| and support sector for more
trad|t|ona| secretar|a| sk|||s such as shorthand,
a|ong w|th a strong emphas|s on stab|e
career h|stor|es and so||d work exper|ence.
Organ|sat|ons were a|so more str|ngent
|n the|r |nterv|ew process |n a b|d to f|nd
the best ta|ent ava||ab|e, and, as a resu|t,
cand|dates were requ|red to go through
r|gorous assessment test|ng.
Sa|ary |eve|s rema|ned s|m||ar to those |n 2008.
ln some |nstances however, part|cu|ar|y w|th|n
the f|nanc|a| serv|ces sector, |ower sa|ar|es
were seen due to budget constra|nts.
Out|ook for 2010
W|th the |ncrease |n demand for exper|enced
secretar|a| cand|dates, we ant|c|pate that there
w||| be strong compet|t|on for ta|ent across
both the f|nanc|a| serv|ces and commerce
sectors. Organ|sat|ons w|th |engthy and
cumbersome h|r|ng processes may r|sk |os|ng
out on the best cand|dates |n the market.
lncreas|ng|y, cand|dates are not on|y bas|ng
the|r career dec|s|ons on sa|ary but are a|so
|ook|ng at other pu|| factors such as company
stab|||ty, benef|ts and bonus structures.
Organ|sat|ons that can offer f|ex|b|e work|ng
hours and promote work-||fe ba|ance w||| see
themse|ves become 'emp|oyers of cho|ce`.
We ant|c|pate further growth |n
temporary-to-permanent h|res as we|| as a
cont|nu|ng strong demand for contract h|res at
the m|dd|e to sen|or end of the market.
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ROL
PRMANN1
SALARY PR ANNUM $SGD
CON1RAC1
RA1 PR HOUR $SGD
2009 2010 2009 2010
Off|ce Manager $48 - 96k $60 - 96k $38+ $38+
Sen|or Secretary $54 - 72k $60 - 78k $33+ $33+
lnvestment Bank|ng Secretary $36 - 60k $48 - 66k $25+ $25+
Oa|| Oentre Manager $45 - 60k $45 - 60k $27+ $27+
Persona| Ass|stant $42 - 66k $42 - 66k $31+ $31+
Execut|ve Ass|stant $36 - 66k $42 - 66k $25+ $25+
|ega| Secretary $36 - 54k $36 - 60k $28+ $28+
Oonf|dent|a| Secretary $36 - 60k $36 - 60k $25+ $25+
Med|ca| Secretary $36 - 54k $36 - 54k $23+ $23+
Project Ooord|nator $33 - 46k $33 - 46k $21+ $21+
Team Secretary $30 - 54k $30 - 54k $22+ $22+
Events Ooord|nator $26 - 34k $26 - 34k $16+ $16+
Trad|ng F|oor Secretary $24 - 42k $24 - 46k $17+ $17+
Adm|n|strator $24 - 42k $24 - 42k $17+ $17+
Oustomer Serv|ce Representat|ve $21 - 24k $21 - 30k $17+ $17+
Recept|on|st $21 - 30k $21 - 30k $13+ $13+
Data Entry O|erk $18 - 22k $18 - 22k $10+ $10+
Sw|tchboard Operator $15 - 18k $15 - 18k $10+ $10+
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.
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Our supp|y cha|n, procurement & |og|st|cs
d|v|s|on spec|a||ses |n the permanent and
contract recru|tment of m|d to sen|or |eve|
supp|y cha|n and |og|st|cs management
profess|ona|s w|th|n FMOG and manufactur|ng
vert|ca|s through to procurement and |nd|rect
spend spec|a||sts w|th|n the commerc|a| and
bank|ng sectors, |nc|ud|ng th|rd party |og|st|cs
prov|ders.
We p|ace exper|enced profess|ona|s |nto
var|ous ro|es from assoc|ate through to
d|rector |eve|s, w|th a focus on the fo||ow|ng
areas:

Oorporate rea| estate and fac|||t|es

management

Demand and supp|y p|ann|ng

|og|st|cs

Mater|a|s management

Operat|ons

Procurement and sourc|ng

Supp|y cha|n

Transportat|on
Market Overv|ew
Due to the g|oba| cred|t cr|s|s, we saw a
sharp dec||ne |n recru|tment |eve|s |n 2009.
Th|s was part|cu|ar|y ev|dent |n the f|rst s|x
months of the year, w|th ||m|ted recru|tment
act|v|ty at the jun|or to m|d-|eve|s across
most |ndustr|es. Many of these ro|es on|y
had |oca| respons|b|||t|es, a stark contrast
to prev|ous years where organ|sat|ons were
ma|n|y recru|t|ng for reg|ona| pos|t|ons.
Desp|te the market downturn, we saw many
organ|sat|ons tak|ng the opportun|ty to
benchmark externa| ta|ent and re-eva|uate
the|r |nterna| human resources. Th|s resu|ted
|n a number of strateg|c h|res and up-sk||||ng
exerc|ses across var|ous |eve|s.
There was an |ncrease |n h|r|ng act|v|ty as the
economy started to recover |n the second
ha|f of the year. ln a cha||eng|ng market,
compan|es tend to |ook to the|r procurement
teams to re-negot|ate contracts, |mp|ement
|ow cost sourc|ng strateg|es and contro|
purchas|ng costs. We therefore saw |ncreased
demand for m|d to sen|or |eve| profess|ona|s
|n quarter three, part|cu|ar|y for procurement
and sourc|ng re|ated ro|es. These were a good
m|x of d|rect and |nd|rect spend pos|t|ons as
compan|es cont|nued to focus heav||y on cost
reduct|on.
The FMOG, pharmaceut|ca|s and
te|ecommun|cat|ons |ndustr|es exper|enced
strong growth |n the f|rst s|x months of 2009,
as d|d the f|nanc|a| serv|ces sector |n quarter
four. The bank|ng and f|nanc|a| serv|ces
|ndustry cont|nued to |ook at |ncreas|ng
strateg|c va|ue to procurement and sourc|ng
teams, w|th a part|cu|ar focus on |nformat|on
techno|ogy departments. Many of these
h|res were at a vP to d|rector |eve|, w|th a
preference for ta|ent from outs|de the |ndustry.
The th|rd party |og|st|cs and sh|pp|ng
|ndustr|es were affected by the s|owdown
|n g|oba| trade and a drast|c cutback |n
consumer spend|ng. As a resu|t, recru|tment
act|v|ty |n th|s area rema|ned |ow.
ln terms of remunerat|on, there was a
s|gn|f|cant gap |n sa|ary expectat|ons between
emp|oyers and cand|dates. Oand|dates
expected to rece|ve a m|n|mum 15-20% sa|ary
|ncrease |n 2009, but most compan|es were
on|y w||||ng to offer a more moderate |ncrement
of between 5-10%, g|ven the uncerta|n
econom|c cond|t|ons and |nterna| budget
constra|nts. However, qua||ty cand|dates
st||| commanded a prem|um |n 2009 and we
expect th|s to cont|nue throughout 2010.
Out|ook for 2010
We ant|c|pate an |ncrease |n recru|tment
act|v|ty and h|r|ng needs for reg|ona| pos|t|ons
|n the supp|y cha|n, procurement and |og|st|cs
sectors. The h|r|ng strategy for these funct|ons
|s ||ke|y to be more strateg|c and focus|ng on
address|ng the needs of |nterna| stakeho|ders.
There w||| be cont|nued demand from key
|ndustr|es, such as FMOG, pharmaceut|ca|s,
te|ecommun|cat|ons and f|nanc|a| serv|ces,
and we ant|c|pate sa|ary |eve|s w||| gradua||y
|ncrease throughout 2010 |n ||ne w|th the
grow|ng demand. The on|y except|on perhaps
w||| be |ow cost manufactur|ng re|ated
|ndustr|es, as many organ|sat|ons start to sh|ft
the|r manufactur|ng p|ants out of S|ngapore to
the Greater Oh|na reg|on to take advantage of
|ower product|on, resource and |abour costs.
We pred|ct that good opportun|t|es w||| st|||
ex|st for m|d to sen|or |eve| supp|y cha|n,
procurement and |og|st|cs profess|ona|s |n
2010, but cand|dates w||| need to be more
rea||st|c |n the|r sa|ary expectat|ons |n v|ew of
current market cond|t|ons.
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ROL PRMANN1
SALARY PR ANNUM $SGD
2009 2010
Head of G|oba| Sourc|ng $250 - 300k $250 - 300k+
Head of Strateg|c Sourc|ng (Reg|ona|} $230 - 300k $220 - 300k
Reg|ona| Procurement D|rector (10+ yrs` exp} $220 - 300k $220 - 300k
Supp|y Oha|n D|rector (10+ yrs` exp} $170 - 300k+ $175 - 300k+
Reg|ona| |og|st|cs D|rector (10+ yrs' exp} $170 - 300k+ $170 - 300k+
Strateg|c Sourc|ng Manager (10+ yrs' exp} $140 - 180k+ $140 - 180k+
Reg|ona| Rea| Estate/Fac|||t|es Manager (8+ yrs' exp} $140 - 180k+ $140 - 180k
Oategory/Oommod|ty Manager (7+ yrs` exp} $90 - 140k+ $90 - 140k+
Reg|ona| |og|st|cs Manager (6 - 10yrs' exp} $90 - 140k $90 - 140k
Operat|ons Manager (5+ yrs` exp} $90 - 130k+ $90 - 130k
Supp|y P|ann|ng Manager (5+ yrs` exp} $85 - 110k+ $85 - 115k+
Project Manager $80 - 130k $80 - 130k
P|ann|ng Manager (6+ yrs` exp} $80 - 110k+ $80 - 115k
Supp|y Oha|n Manager (6+ yrs` exp} $70 - 130k+ $75 - 130k+
Reg|ona| Procurement Manager (6 - 8 yrs` exp} $75 - 130k $75 - 130k
Strateg|c Sourc|ng (lT} Manager (6 - 8 yrs' exp} $75 - 130k $75 - 130k
Strateg|c Sourc|ng Manager (6 - 8 yrs' exp} $75 - 120k $75 - 120k
Supp|y Oha|n Oonsu|tant (5 - 8 yrs' exp} $65 - 120k $65 - 120k
Procurement/Sourc|ng Assoc|ate (4 - 6 yrs` exp} $60 - 75k $60 - 75k
Demand P|anner (5+ yrs` exp} $55 - 75k+ $55 - 75k+
Oategory/Oommod|ty Manager (0 - 6 yrs` exp} $50 - 90k $50 - 90k
NB: F|gures are bas|c sa|ar|es and exc|ude emp|oyer's OPF contr|but|on.