Asia dominates rankings of lowest IT payers -
Six of the world's 10 highest-paying countries for IT managers are in Western Europe. Whilst Switzerland pays the highest salaries followed by Denmark, Belgium and the UK, the United States and Canada are ranked 6 and 8, respectively. IT professionals in Hong Kong and Australia are the only two APAC markets to make it on the list of top 10 best paid globally with the ranking of 9 and 10 respectively. This was according to a survey by Mercer, which revealed that IT managers in Vietnam, Bulgaria and the Philippines received the lowest pay, respectively, at $15,470, $22,240 and $22,280 a year. Indian IT managers were fourth from the bottom, earning an average of $25,000. Commenting on the results, Neo Siew Khim, Mercer Asia Pacific Business Leader, Information Product Solutions said that the lowest paid IT employees in 2007 tend to be those in Asian markets.
The survey found that IT staff at all levels, were paid the most in Switzerland, where the IT Manager job paid an average of $140,960 annually. The same job level in Denmark (the second-highest-paying country) paid $123,080, while Belgium (3) paid an average of $121,170. The UK and Ireland were ranked 4 and 5, with an average pay of $118,190 and $108,230, respectively. In the United States, the average IT manager earned $107,500 a year compared with Canada (8) at $93,840.
According to David Van De Voort, IT workforce specialist in Mercer's Chicago office, "The impact of outsourcing and off-shoring on IT roles in North America and Western Europe helps explain the pattern of global pay. Lower-level roles are being moved to regions where talent is cheaper; the jobs that remain in Western Europe and the US may be fewer in number, but are more demanding and complex roles like vendor relationship manager, internal consultant and IT business partner."
Wednesday, November 21, 2007
Wednesday, October 24, 2007
Sunny 2008 for jobs
135,000 jobs to be created in 2008, wages to go up by 5.1%: economists
Economists at the Nanyang Technological University (NTU) are forecasting that 135,000 jobs will be created next year. That is less than the estimated 200,000 for this year but it will still be the fourth straight year that jobs growth has come in above 100,000. Overall, economists at NTU are optimistic about the economic outlook for 2008. They expect job creation to remain strong with some 135,000 new positions. This will see the unemployment rate dropping to 2%, down from 2.3% currently. Wage increases are forecast to go up a lower 5.1%, compared to 8.1% this year. Economists said the flexibility of Singapore's foreign worker policy will keep a lid on wage pressures.
This huge employment increase that we've seen in the last 2 or 3 years will have spillover effect over the coming years. The second factor is productivity increases. We expect to see fairly good productivity improvements over the coming quarters." "And they are already beginning to show. There has been an improvement in productivity levels. These two factors will mean that while there are a lot more job openings. These jobs openings can basically be filled ultimately." Meanwhile, higher inflation is also expected to persist into the first half of 2008. "Inflation will go up for another half year or so mainly because of the one-time effect of the GST rate increase.
It (Inflation) will sort of taper off in the second half of next year, but we don't really see it coming down very much simply because when you have robust growth this year and next, cost pressures build up. Wages have been going up and eventually it'll translate into a higher rate, so we still predict that inflation next year is going to be above 2 percent," said NTU's Assistant Professor Choy Keen Meng. The overall economy is forecast to grow by 7.5% next year, with faster growth expected in manufacturing, transport and storage and information and communication sectors. NTU economists are expecting the growth in construction and financial services sectors to be slightly slower next year, but they said the figures will still be healthy at 14% for construction and 11% for financial services. -
Economists at the Nanyang Technological University (NTU) are forecasting that 135,000 jobs will be created next year. That is less than the estimated 200,000 for this year but it will still be the fourth straight year that jobs growth has come in above 100,000. Overall, economists at NTU are optimistic about the economic outlook for 2008. They expect job creation to remain strong with some 135,000 new positions. This will see the unemployment rate dropping to 2%, down from 2.3% currently. Wage increases are forecast to go up a lower 5.1%, compared to 8.1% this year. Economists said the flexibility of Singapore's foreign worker policy will keep a lid on wage pressures.
This huge employment increase that we've seen in the last 2 or 3 years will have spillover effect over the coming years. The second factor is productivity increases. We expect to see fairly good productivity improvements over the coming quarters." "And they are already beginning to show. There has been an improvement in productivity levels. These two factors will mean that while there are a lot more job openings. These jobs openings can basically be filled ultimately." Meanwhile, higher inflation is also expected to persist into the first half of 2008. "Inflation will go up for another half year or so mainly because of the one-time effect of the GST rate increase.
It (Inflation) will sort of taper off in the second half of next year, but we don't really see it coming down very much simply because when you have robust growth this year and next, cost pressures build up. Wages have been going up and eventually it'll translate into a higher rate, so we still predict that inflation next year is going to be above 2 percent," said NTU's Assistant Professor Choy Keen Meng. The overall economy is forecast to grow by 7.5% next year, with faster growth expected in manufacturing, transport and storage and information and communication sectors. NTU economists are expecting the growth in construction and financial services sectors to be slightly slower next year, but they said the figures will still be healthy at 14% for construction and 11% for financial services. -
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