Wednesday, February 23, 2011

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Change jobs and expect higher pay

Nice Article.. except that no plans in changing jobs for the next few years unless they kick me out.. hehe.



Thinking of changing your job soon? Don’t be afraid to ask for as much as 15 percent more pay.

According to international recruitment consultancy Robert Walters, those who change their jobs this year should expect a 10 to 15 percent increase in pay. And if you have a niche skill set, you could get as much as 25 percent more.

The consultancy launched its annual Global Salary Survey 2011 on Tuesday, wherein it outlined countries’ market conditions and salary levels.

The survey analysed Robert Walters’ permanent, interim and contract placements across countries and industries.

In Singapore, for example, a senior engineer, assistant manager or manager in the engineering industry earned between $65,000 to $130,000 per annum last year. This year, he is expected to earn between $70,000 to $135,000 per annum.

Managing director for Singapore and Malaysia Andrea Ross said that the Singapore market struggled to retain top employees given the abundance of job opportunities last year.

It will likely be the case this year too, she said.

“Companies do have to remain competitive. They cannot assume their brand name is going to attract good talent onboard. They have to be paying benefits and offering training and development,” she said.

As Singapore’s economy boomed in 2010, salary increases for those who switched jobs ranged were between 15 and 20 percent last year, said Ms Ross.

The Singapore economy grew by 14.5 percent last year. The government expects the economy to grow by between 4 and 6 percent this year.

The financial services sector saw the biggest growth last year and is expected to continue with strong hiring this year, said Ms Ross.

If you are interested in rewnewable energy or aviation, this may be a good year for you too.

The consultancy predicted growth in the aviation and aerospace sector, as the Seletar Aerospace Park is expected to be completed in the first half of this year.

There have also been more renewable energy projects focusing particularly on solar, water and wind types of energy implemented within Asia Pacific, noted the consultancy.

Robert Walters manager Andree Mangels said that companies developing green technologies view Singapore as a hub from which they can do business within the region.

For instance, Renewable Energy Corporation (REC) recently opened one of the world’s largest integrated solar production facilities in Tuas. It has 1,500 staff and is still on the look out for others to join the company.

“Demand for such talent (in renewable energy) is very high in Singapore, much higher than what Singapore can offer,” said Mr Mangels. These companies will pay as much as 30 percent more than others, he said.

But for those wanting to enter the semi-conductor industry, the outlook is not as positive. They are taking longer to recover from the financial crisis and hiring was not as bouyant last year, said Ms Ross. She expects hiring for this sector to be slow this year, too.

Other sectors where recruitment was strong last year include the hospitality, fast moving consumer goods, pharmaceutical, healthcare, and oil and gas sectors.

Regionally, greater demand for revenue-generating roles in financial services in Hong Kong and a surge in recruitment in Malaysia due to the implementation of a number of government-initiated are expected.

Salary increases are forecast to be about 10 percent across various industries and roles in China, while top-tier candidates could get a 15 to 30 percent pay raise.

Interested in finding out if you are paid fairly? Robert Walters also launched its Salary Survey iPhone application, which allows you to check how much you should be earning in your current role.

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