Banking And Contract Jobs In Singapore

By Author: Katie Byron
Total Articles: 4
Comment this article

Robert Walters Comments On Private Banking In Singapore:

Robert Walters comments on private banking in Singapore - how demand still exists despite uncertainties in Europe.

However, the private banking sector is seeing some moderation as European banks ease up on hiring in the face of funding pressures and a global economic slowdown.
Robert Walters' financial services director Pan Zai Xian said: "Recent...reports... showed that salaries (went) up to 25 per cent more (compared to European private bankers), for various levels in the wealth management industry.

"And having said that, the demand is there, compared to Europe these days; it's also because from a client's point of view, a lot of wealth is being generated in this part of the world."

Bankers Predict Bonuses and Pay Rises:

Most finance professionals expect a bonus and a pay rise this year, according to a survey from recruitment specialists Robert Walters. However, a third are expecting a pay increase broadly in line with inflation, with very few anticipating more than a 10% pay rise.

The survey also reveals that most people ...
... working in the investment banking sector are more likely to move roles to secure a job that offers improved career progression opportunities rather than more money.

The survey, which asked more than 1,000 investment banking professionals about their pay and bonus expectations for year-end, reveals that:

• 88% expect a bonus
• More than half expect this bonus to be up to 20% of their basic salary
• Almost three quarters of investment banking professionals expect a pay rise
• 34% expect this pay rise to be in line with inflation and 88% expect it to be less than 10%
• 41% are looking to move post bonus pay out, 31% may move depending on their bonus
• 80% say career progression or a pay rise is their primary motivation for moving

Andrew Hanson, Director of Robert Walters’ Financial Services recruitment division, comments:
“The results reveal that banking professionals are keen to refocus on their career development. With more than 70 per cent of people working in the sector currently considering their career options, there looks set to be a significant amount of movement post compensation review.”

About Robert Walters - Robert Walters Plc is one of the world's largest professional recruitment consultancies, with the largest recruitment team focusing on banking jobs in Singapore, permanent and contract jobs in Singapore.