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Singapore Slips to 4th In Asia Managers Pay Rankings

Aussie Pete

Alfrescian
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Singapore has slipped to fourth place as China moves up to third on the Asian list of the pay rankings for managers by the Hay Group.

This is because their disposable incomes do not mean as much as they once did, due to such factors as rising living costs and regional competitiveness for managers.

According to the report released yesterday, Singapore managers are No. 4 in Asia this year, one spot down from last year's, in terms of disposable income.

Hong Kong leads the table in Asia, second place Thailand and China third. Globally, Singapore managers rank in at number 22.

Industry observers say they are not surprised that Chinese managers are now enjoying better disposable incomes than their Singapore counterparts.

Ms Charlotte Park, managing director of Reward Information Services of Hay Group Asia, explained: 'The shortage of management talent in China's booming economy means companies need to pay...to find and keep management talent.'

Comparatively, this situation is less pressing in 'developed markets such as Singapore', she added

[HOW IS THE HAY REPORT CALCULATED? - AUSSIE PETE]
 
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