Out with the old, in with the new! Ushering in 2020, we want to contribute to our clients and candidates preparing for the challenging market climate up ahead. TalentStork has put together this Salary Guide 2020 to support you, our HR partners, as well as candidates, to better comprehend the compensation developments in the various segments in Singapore.
Our Salary Guide is a compilation of the salary ranges across various industries in Singapore. It is crafted based on the analysis of permanent placements made across Singapore in 2019, as well as our predictions for this year and your input through our 2019 Talent Engagement Survey.
For this edition, we will be providing our guidance on five segments aligning with our own function and industry focus.
Sectors included are:
- Supply Chain & Procurement
- Travel & Hospitality
- Corporate Services
- Sales & Marketing
- Singapore is expecting positive growth in 2020, with our average real salary increasing by 3.0%.
- Key supply chain trends will carry from prior years into 2020, but 2020 is forecasted to usher in growth in logistics technology development with the digitisation of the supply chain and procurement sector.
- With the introduction of digital banking in Singapore, key jobs related to digitalising retail deposits and digital wholesale banking will be made available in our Technology sector. Otherwise, most demanded jobs in the technology sector remains the same as in 2019 – cybersecurity experts, mobile application developers and cloud engineers.
- Digital marketers will be sought after for Travel & Hospitality as traditional players seek to digitise their business to keep up with travel technology players.
- Mid and executive-level professionals in Corporate Services will experience modest growth in terms of professional job opportunities.
- Due to the volatility of the Sales & Marketing function, the need to re-skill and up-skill as a Sales & Marketing professional has grown stronger in 2020 and will only continue to increase.
Click here to download our 2020 Singapore Salary Guide and read more about our hindsight and foresight of the Singapore Labour market.