Jobseekers in Singapore say salaries too low

More than one third of jobseekers believe the salaries on offer are below market rate.

According to a survey by recruiting expert Hays, 35 percent believe salaries are below market rate with no room to negotiate. A further 35 percent of jobseekers believe salaries are low but employers are willing to negotiate.

"As candidates see that more opportunities are available and confidence in the market grows, they are adjusting their salary expectations," says Chris Mead, General Manager of Hays in Singapore.

"But this often prices them out of the market because employers are unlikely to increase salaries right now. In the majority of cases salaries remain unchanged. Often this is a response to internal pressures and a misunderstanding about the current market. In reality, there is not an abundance of quality candidates who can be secured for a salary below the level of skill sought.

"Already there are cases of employers being disappointed when their preferred candidate won't move because of a lack of incentive.

"This is most obvious in the case of quality passive candidates. These are the candidates that employers are most interested in, but they will not move for a salary that is low. They will only move if it means increasing their salary. Employers are starting to enter into salary negotiations, but will only go so far.

"While widespread salary increases are not yet happening, employers are prepared to take other steps to help try to attract candidates. This includes improving benefits, offering bonus schemes, providing training and development and outlining clear career paths.

"Moving forward employers will need to re-examine salaries in order to secure the right candidates, particularly as counter offers rise in number," Chris said.

The survey was conducted on hays.com.sg and asked: When job searching have you found salaries to be:

Reasonable – I'm happy with the salaries on offer: 30%
A little low – But employers willing to negotiate: 35%
Below market rate - With no room to negotiate: 35%

723 people completed the survey.