Finance professionals are finding themselves in high demand as company expansion in Singapore is leading to a recruitment drive. Read more here.
2019 Robert Half Salary Guide
Singapore’s finance professionals are finding themselves in high demand as company expansion within the city-state over the past 12 months is leading to a recruitment drive for commercially-savvy financial talent who can give businesses a competitive edge.
However, the top positions in demand, as published in the newly-released 2019 Robert Half Salary Guide, will prove difficult for local hiring managers to source as Singapore grapples with an ongoing skills shortage. Indeed, more than eight in 10 (83%) of Singapore’s CFOs currently find it challenging to source qualified finance professionals, with the number rising to 85% who predict it will become even more challenging in the coming five years.
Matthieu Imbert-Bouchard, Managing Director of Robert Half Singapore says: “Digitisation, automation and AI initiatives are placing additional pressure on financial employers to recruit technologically-adept candidates. Combined with new regulations and the skills shortage, finance leaders are struggling to find the talent they need to face commercial challenges in 2019.”
“Within this hiring climate, talented financial candidates within the areas of risk, auditing, financial and client management are particularly in high demand as financial institutions and private banks continue to expand their footprint across Asia. Meanwhile, the rise the of e-payments is creating strong demand for accountants and credit controllers who are able to efficiently streamline strategic responsibilities for businesses.”
“New and more digitally-focused roles within the finance sector is fueling the war for talent, and companies need to be proactive in not only enticing new talent to their organisation with a competitive salary, but also incentivising their top performing staff to stay. And while salary is just one component of the overall remuneration package, training and development are also vital for employers to secure and retain the best talent.”
The newly-released Robert Half Salary Guide has identified the top 10 finance positions in demand in Singapore for 2019 and their respective salaries [1]:
1. Credit Risk Officer
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $80,000 | $100,000 | $115,000 | $130,000 |
Source: Robert Half Salary Guide
2. Internal Auditor (Financial services)
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $80,000 | $100,000 | $115,000 | $130,000 |
Source: Robert Half Salary Guide
3. Risk Specialist
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $80,000 | $100,000 | $115,000 | $130,000 |
Source: Robert Half Salary Guide
4. Finance Manager
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $120,000 | $130,000 | $150,000 | $170,000 |
Source: Robert Half Salary Guide
5. Relationship Manager
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $60,000 | $80,000 | $95,000 | $110,000 |
Source: Robert Half Salary Guide
6. Tax Manager
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $100,000 | $130,000 | $160,000 | $175,000 |
Source: Robert Half Salary Guide
7. Internal Auditor (Commerce and Industry)
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $120,000 | $150,000 | $180,000 | $200,000 |
Source: Robert Half Salary Guide
8. Financial Analyst
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $55,000 | $70,000 | $85,000 | $100,000 |
Source: Robert Half Salary Guide
9. Credit Controller
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $120,000 | $135,000 | $150,000 | $170,000 |
Source: Robert Half Salary Guide
10. Accountant
| Salary range | ||||
| Percentiles | 25th | 50th | 75th | 95th |
| $50,000 | $57,000 | $65,000 | $75,000 |
Source: Robert Half Salary Guide
[1] In the 2019 Robert Half Salary Guide the salary ranges are presented in percentiles. These percentiles are determined by a candidate’s skillset and experience level, as well as the complexity of their role – the higher the percentile the more complex the role and the greater skillset and experience level required.
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About the Robert Half Salary Guide
The 2019 Robert Half Salary Guide is the most comprehensive and authoritative resource on starting salaries and recruitment trends in finance and accounting, financial services and information technology in Singapore.
It offers a comprehensive overview of the current salary ranges, industry trends and specific job trends for finance and accounting, financial services and technology professionals. The results and insights of the 2019 Robert Half Salary Guide are based on comprehensive analyses, local job placements, local expertise and independent research of executives and office workers.
About the research
The annual study is developed by Robert Half and was conducted in January 2019 by an independent research firm, surveying 150 CFOs in Singapore. This survey is part of the international workplace survey, a questionnaire about job trends, talent management and trends in the workplace.