Thursday, October 18, 2007

:: S'pore job-seekers demand 10% more than what employers expect to pay

Is it a case of overblown expectations or just market savvy?

More than in any other country in Asia, job candidates in Singapore tend to demand salaries higher than what employers are willing to pay, said the latest report by human resources firm Hudson.

More than half of the 723 employers from multinational firms in Singapore surveyed said they "often" or "very often" received such demands — the highest proportion of all the Asian markets involved in the study, Japan, Hong Kong and Shanghai included.

Singaporeans are increasingly aware of their value in a market where demand outstrips supply, said Hudson's Singapore country manager Mark Sparrow.

"When Singaporeans look for jobs, they are looking for higher pay, but employers haven't adjusted their expectations yet," he said.

Also, 57 per cent of respondents said Singaporeans are asking for more than 10 per cent above the salary offered — second only to what job-hunters in China are requesting.

While companies here "shouldn't bow down to job candidates", they do need to readjust what they are prepared to pay employees in a competitive market, he said.


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