Singapore top execs best-paid in Asia in US dollar terms: study
SINGAPORE companies pay their senior and top management the most in Asia in US dollar terms, according to a study by professional services company Towers Watson.
The annual base salaries in Singapore were about 10 per cent higher than the next best-paying location, Hong Kong, Towers Watson said. At the very top of the hierarchy, Singapore companies paid an average base salary of about US$586,000, 32 per cent more than the US$445,000 paid in Hong Kong.
Base salaries in Singapore and Hong Kong grew 3 to 4 per cent, although top management salaries rose at a faster clip of 6 to 8 per cent.
"We do see signs of regional HQs moving from Singapore to other lower-cost locations, such as Malaysia and Indonesia, to reduce staffing costs, subject to availability of talent," said Sambhav Rakyan, Asia-Pacific practice leader of Data Services.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
International
South Korea government offers first compromise to end doctors' strike
Japanese AI tool predicts when recruits will quit jobs
India votes in gigantic election dominated by jobs, Hindu pride and Modi
Britain’s retail sales disappoint in sign of lacklustre recovery
Explosions in Iran, US media reports Israeli strikes
US veto sinks Palestinian UN membership bid in Security Council