, Singapore
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Which industries can expect pay raises in 2023?

Robert Walters cited 3 industries where most businesses will impose an increase.

Several industries will raise salaries in 2023, but amongst all, Supply Chain & Procurement, Accounting & Finance, and Banking & Financial Services are the most likely to impose an increase.

According to Robert Walters, the percentage of businesses that will give pay increases next year are 88%, 87%, and 85%, respectively.

Employees in the Tech & Transformation (73%), Human Resources (84%), and Sales & Marketing (81%) industries can also expect increases next year as most businesses in these sectors plan to give pay rises.

In these industries where employees can expect pay hikes, the most in-demand professions are the following:

  • Technology & Transformation: Software developers/Data & Analytics/ Cloud Automation & Cyber Security, Digital Transformation (SMEs), Agile Coaches/Scrum Master
  • Banking & Financial Services: Finance Manager (Fund/ Private Equity), Investment operations, Compliance Data Analytics
  • Commerce Finance: Finance business partners at various levels, Analytics Finance Project Professionals, Automation/ process improvement roles
  • Human Resources: Talent Acquisition/ Recruitment Specialist, Executive Assistant, Office Manager, Secretarial, HR Business Partners
  • Sales & Marketing: Business Development and Sales/Account Management, E-commerce Sales & Marketing, Digital and Content Creation Marketing
  • Supply Chain & Procurement: Supply Chain and Procurement Centre of Excellence (COE), Global Logistics Manager, Demand Planners and Order Fulfilment/Customer Service Specialists.

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