Wednesday, January 16, 2008

Top telco and IT execs get big bucks

Variable bonuses not even included in their annual income of up to $750,000

TOP managers in the information technology and telecommunications(IT&T)sector are the most handsomely paid in major Asian cities, including Singapore.

They take home up to $750,000 a year here, and this does not even include their variable bonuses, said Hudson, a leading executive recruitment firm in the region.

That is the highest after Hong Kong, where managing directors in the IT&T sector can
command an annual pay package of up to $916,000, according to the comprehensive
salary review, which also covers lesser management jobs.

Industry observers say that IT&T is not just one of the fastest growing businesses;
it is also the most competitive and is prepared to pay for talent, The Business Times reported yesterday.

By that measure, it is no surprise that the overcrowded retail industry in Singapore also pays top dollar for top managers – up to $400,000 yearly, according to Hudson.
That is the highest among managing directors in the retail business in the four locations under Hudson’s review.

According to some analysts, the higher pay here also reflects Singapore’s sharper edge as a shopping paradise. Hong Kong, where the top man in the retail business is the lowest paid among the four locations, has been losing out as a shopping hub in recent years.

Shanghai is the city to look out for as a fast-rising retail centre, analysts pointed out. Salaries of top management in the industry there are also shooting up.
While a retail MD in the Chinese city commands around $393,000 yearly, smaller retail
outfits in Singapore pay their top manager as low as

In Japan, the annual salary hits a floor of $236,000. Surprisingly, corporate finance
is not a top paymaster even though the banking and finance sector is a top performer,
at least in Singapore. Going by Hudson’s numbers, an MD in corporate finance in
Singapore is paid about $250,000 yearly – one of the lowest among top managers.

Even heads of the local public relations firms do better – they get up to $300,000 yearly. But analysts say a big chunk of the remuneration of corporate finance chiefs comes in the form of variable bonuses, which are not included in Hudson’s salary
review. Because of the focus on cities, Hudson’s salary review does
not offer much information on pay in manufacturing and industrial activity.

The latter is confined largely to regional headquarter functions like logistics, sales, and marketing procurement.

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