Employers willing to raise starting salaries by an average of 10% in Singapore

  • 95% of financial services employers are willing to raise the initially-planned starting salary by an average of 10% to secure top financial services talent.
  • The most in-demand financial services roles in Singapore for 2018.

Singapore, 6 June 2018 – Singapore’s financial services employers are willing to pay above-average salaries in order to secure top talent. According to new independent research commissioned by specialised recruiter Robert Half, the majority (95%) of financial services employers are willing to raise the initially-planned starting salaries by an average of 10% to secure top financial services talent – putting top talent in a favourable position to negotiate higher starting salaries.

Matthieu Imbert-Bouchard, Managing Director of Robert Half Singapore said: “Money talks – especially in the financial services sector where salary remains a determining factor in whether or not jobseekers accept a role. And while financial incentives are just one component that make up an attractive remuneration package, Singapore’s financial services employers understand that in order to attract the best talent then they need to offer competitive salary rates.”

“In the ongoing war for talent, companies risk losing top talent to the competition if they don’t offer industry or above-industry salaries. In-demand financial services candidates are aware of their market value, so companies need to be creative when determining individual motivators to secure their preferred candidate.”

In a candidate-short market, the newly-released 2018 Robert Half Salary Guide has identified the most in-demand financial services professionals in Singapore who will be able to command higher starting salaries when interviewing for a new job.

Singaporean businesses within the financial services sector are increasing their focus on forward-thinking planning and strategy to face ongoing disruption within the industry – resulting in increased demand for innovative business planning manager.  Internal auditors who can effectively monitor risks and increase the efficiency of internal processes remain in high demand within Singapore’s financial services industry and this in turn results in top candidates being able to command higher starting salaries.

In light of growing regulation and disruption within Singapore’s financial services industry, credit risk professionals are in high demand as companies seek to minimise risk and increase their options for cash flow which in turn puts an upward pressure on salaries. Demand continues to strengthen for qualified compliance managers within financial services on the back of escalating regulatory requirements in Singapore, putting skilled compliance managers in a favourable position when negotiating starting salaries.

To find out up-to-date salaries, download the 2018 Robert Half Salary Guide