Tuesday March 13, 2012
Higher salaries for professionals
By P. ARUNA
PETALING JAYA: Salaries are set to increase by between 20% and 30% for professionals with in-demand skills this year as companies compete for top talent.
Experts also predict that the brain drain situation will improve with the domestic job market booming and foreign investment increasing while there is economic uncertainty in the United States and Europe.
A survey revealed that experienced professionals in the banking and finance, oil and gas, pharmaceutical, fast-moving consumer goods, IT and telecommunication sectors can command higher salaries in the job market that continues to be employee-driven.
Recruitment specialists Robert Walters, in their latest salary survey, say the “hot jobs” will be in the oil and gas sector, among others, which will be looking to fill specialised technical engineering posts.
Senior sales and marketing professionals will always be in high demand, according to Robert Walters Malaysia country manager Sally Raj yesterday.
Also on the “wanted” list, she said, are trade professionals in transaction and people experienced in finance and governance as banks are expected to hire heavily this year.
Jobstreet country manager Chook Yuh Yng said: “The domestic job market has become more attractive to Malaysian professionals, encouraging them to stay at home rather than go overseas, In fact, many Malaysians are returning from the US and Europe due to the economic situation there.”
She added that foreign investment was driving recruitment in Malaysia, especially in the oil and gas sector.
It was reported that foreign direct investments into the country increased by 12.3% to RM32.9bil last year, with almost 150,000 job opportunities expected to be created as a result.
A Talentcorp spokesman said Malaysia had become an attractive work destination for top global talents especially in the oil and gas, Islamic finance, palm oil and electric and electrical engineering sectors.
Under its Returning Expert Programme targeted at Malaysians abroad, Talentcorp approved 680 applications in 2011, compared to 313 in 2010, he said.
“These professionals who were previously based in Britain, Singapore, US, Australia, China and Middle East countries, among others, are now actively contributing to key economic sectors in Malaysia,” he said.
It's not just the lure of money