Sales and marketing professionals will continue to be in demand, with salaries continuing to rise between 12% and 18% dependent on industry and experience. According to a report by Acquis Search,Â the demand for sales and marketing professionals has also remained strong across all industries over the past 12 months, and salaries have remained buoyant.
Demand for talent with regional sales and business development experience also increased as more corporations continue to establish its APAC headquarters in Singapore. This comes as Southeast Asiaâ€™s emerging markets continue rapid ascent and exponential contributions to global GDP. The report added that salaries are increasing at a rate between 10% to 15%.
Salaries are showing a 10% to 15% growth as employers pay to secure the â€śbest in classâ€ť talent, or up to 18% more for those with the desired technology experience. This perspective rings true for product driven industries, such as FMCG and some segments of technology, media and telecom (TMT), where corporations are locked in a constant race to gain competitive advantages to optimise product visibility in the market.
As corporations begin to realise the value that strong digital and data-driven marketing initiatives can have for profits on an increasingly connected global economy, talent with comprehensive digital marketing, branding and communications experience will also be in high demand. According to the report, with multinational corporations looking to develop its sales capabilities in the face of growing competition and increasing reliance on new technological strategies, demand and salary levels for direct and strategic sales talent have steadily grown.
This was particularly within the FMCG and technology, media and telecom (TMT) industries with the emergence of eCommerce platforms. While the volume of sales positions within the healthcare, medical devices and industrial industries remained a healthy constant year-round, organisations placed an emphasis on candidates with technology sales experience.
With the rolling-out of 5G networks and more international corporations looking to establish its presence in Singapore, the report added that there will also be an increase in the demand for talentÂ within regional commercial and technical functions. Talent with eCommerce and digital experience continue to be in high demand due to a shortage of local talent amidst greater market demand and as corporations allocate more capital to its digital and online functions to maximise its reach domestically and internationally.
The nature of business has shifted to adapt to advancing integrated technology, evolving online strategies, new products entering the market and regulatory requirements governing e-payments and cybersecurity. While in 2018, higher demand was seen for branding and communication professionals to aid in organisational transitions towards the emerging eco-friendly and sustainable global corporate culture.