Key Takeaways February 2019

What’s happening in Singapore?

  • Private Banks actively hiring Relationship Managers for the China market – growth in family offices and entrepreneurs moving into Singapore
  • Quants, data engineers and machine learning hires strong in the trading space
  • Dev hires strong in the fintech space
  • Average salary increment – 3.8 – 5%

Banking Operations and Middle Office Vacancies in the Market:

0

  • Companies are heavily investing in Change and Transformation projects within Automation and Outsourcing
  • Operations and Middle Office roles such as Fund Administration, Settlements, Trade Support, Trading Assistant are being phased out
  • Client Services a hot area for hiring as companies compete on quality of service, not costs
  • Job landscape in Singapore will shift towards that of Hong Kong over the next two years

Contract Employment on the Rise

  • 20% of roles in Hong Kong are contract-based
  • 10% of roles in Singapore are contract-based
  • Contingent workers help with the daily operations while existing employees assist with projects
  • Candidates benefit from taking on contracts to pick up new skills and break into different functions
  • Average salary increment for contractors – 15-20%
  • Average salary increment for permanent hires – 10-12%

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