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Careers@Singapore: Finance and Accounting

ข่าววันที่ 06/06/2011

Contact Singapore
Industry News
Salary packages within Singapore's Finance and Accounting sector among most competitive in Asia
No better time than now for Finance and Accounting professionals to move to Singapore


If you have been toying with the idea of relocating to Asia, this is probably the best time to do so. According to recruitment firm Robert Half International, employers in Asia-Pacific's financial sector are on a hiring spree.

With demand higher than there is supply, Asia is facing a talent shortage in this sector and recruiters expect more Finance and Accounting professionals to be brought into this region in 2011 and 2012. This is also likely to put upward pressure on salaries at the end of 2011 and early 2012.

The Singapore Scene

For 2011, employees in Singapore expect a 10-15% increment on their last drawn base salary, while pay raise expectations for employees with in-demand skill-sets is in the 20% to 25% range. Highly skilled finance and accounting professionals would continue to command a top salary package.

According to a joint research carried out by ACCA Singapore and Robert Half, a significant 81 percent of Singapore respondents with recruitment responsibilities believed there was an existing skills shortage in finance and accounting in the country.

Many employers are ramping up their hiring in order to lure valuable talent and position themselves for growth. Hiring demand for specific finance and accounting talent in Singapore is increasing and employers have indicated that they are recruiting finance and accounting staff to fill new positions, or to replace staff lost or retrenched due to the downturn.

The optimistic findings are in tandem with the Ministry of Manpower's quarterly labour market report released on 15 March 2011. The financial services industry registered employment growth of 15,700 in 2010, compared with 3,400 in 2009.

Snapshot of Types of Roles in Demand
The increased emphasis on corporate governance has led to many financial institutions to add professionals with strong regulatory and risk management expertise in areas such as internal audit, compliance, credit and portfolio risk control, as well as finance controllers, CFOs and accountants.

Click to find out more about the Finance andAccountancy Services industries in Singapore

About Singapore
In the heart of Asia lies Singapore – a bustling, world-class city state that has made waves around the world for its business excellence, connectivity to the world and its innovation.

Singapore has been consistently acknowledged as a global business hub – one that features developed infrastructure, political stability, open business policies, a skilled workforce, the use of English as the main working language and respect for intellectual property rights. To date, more than 7,000 multinational companies have set up bases in Singapore, next to 150,000 small and medium enterprises. Business owners all over the world regard Singapore as an ideal location to grow their businesses, with many of them using the country as a springboard to tap into other emerging markets in Asia.

Besides being ranked by the World Bank in 2009 as the world’s easiest place to do business (out of 183 countries), Singapore has, among its many accolades, the top ranking in the 2009-2010 Global Competitiveness Report by the World Economic Forum as being the most competitive economy in Asia, and was also ranked by the Worldwide Quality of Living Index 2010 (by Mercer Human Resource Consulting) as the top Asian country for its quality of life.

Global talent accounts for about 30% of the workforce, attracted by open recruitment policies, low personal taxation, a meritocratic society that embraces diversity, and a high quality of life in a cosmopolitan environment.

About Contact Singapore 
Contact Singapore is an alliance of the Singapore Economic Development Board and Ministry of Manpower.
It aims to attract global talent to work, invest and live in Singapore.

With offices in Asia, Europe and North America, Contact Singapore is the one-stop centre for those who wish to pursue a rewarding career in Singapore, as well as individuals and entrepreneurs who are keen to invest in or initiate new business activities here. Contact Singapore actively links Singapore-based employers with global talent and provides updates on career opportunities and industry developments in Singapore. We work with public and private sector partners to facilitate the interests of potential individual investors in Singapore.

For more information on working, investing and living in Singapore, please visit www.contactsingapore.sg
For more job opportunities in Singapore, please visit our job portal atwww.JobsAtSingapore.sg

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More info www.contactsingapore.sg/eCareers/fin_acct_May2011

 


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