Hirings down but pay steady | Jorbb.com

EXECUTIVES, professionals and managers can breathe a little easier: despite job cuts and hiring freezes, salaries have not dropped.

International recruitment firm Robert Walters, which released its annual salary survey on Wednesday, said it found 'salaries in Singapore are at least holding relatively steady'.

The only exception is in financial services, which 'continues to be extremely tough'.

The company's manager for the sector, Mr Pan Zaixian, said that back-of-the-house functions such as operations and finance had slowed down, as a 'downstream' effect, because the 'front office is not making money'.

In banks, hiring freezes and pay cuts have pushed people to seek jobs in 'less volatile' industries, such as the public sector, because of the security offered.

Skills-wise, sales and business development executives, who have the relevant industry knowledge, are in higher demand than other workers, said the survey.

Companies want them because they are able to 'hunt' out and bring in business for them, unlike marketing functions - which increases costs to the company - said Mr Andree Mangels, a manager for sales and marketing jobs.

Contract jobs, not just in information technology, are getting more popular with both employees and employers.

Said Mr Pan: 'In the past, people don't want contracts because it's not stable. They would never consider it. Now people who are looking for placements will voluntarily tell you they would take them.'

For the full Robert Walters Global Salary Survey, go to www.robertwalters.com/salarysurvey

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