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Making sense of salary benchmarks and guides

27m 30s

Making sense of salary benchmarks and guides

With salary guides widely available online, many jobseekers rely on them to set their expectations. But are they accurate and representative? Tiffany Ang and Gerald Tan speak with Eugenia Ng, director at recruitment firm Michael Page, to unpack why salary benchmarks vary across sources and how to use these numbers to negotiate.See omnystudio.com/listener for privacy information.

Transcription

5375 Words, 30583 Characters

You're listening to a CNA podcast. Hi it's Tiffany and Gerald and welcome back to another episode of the Work It podcast. Now on this podcast, we have discussed salary transparency among peers in a company. We've also talked about salary trends at the start of the year, but there's one thing I feel we haven't spoken about yet and that is salary benchmarks. Now every year, companies release salary guides and people around me would use it to weigh up their job offers. Do you see that? Yeah, there's lots of reports that private sector companies publish. There is the Graduate Employment Survey, there's the MOM salary reports. You can go onto MyCareerFuture to browse salary ranges. Of course, if you have Glassdoor access, you can also go in there to look at salary reviews. So with so much information out there, usually when we read it as a layperson, what we see is the averages, the basic total package and these numbers gives us some ideas of what remuneration we should be getting and also set some expectations in terms of what we should be asking for. But it's really just a gauge. Yeah, and also sometimes I feel that the data doesn't really quite line up. Because for example, according to one guide, maybe the median salary for an accountant is $5,800 a month. Another one would say it's $4,000. Then you talk to other friends in similar roles and then they're earning way more than that. It's no wonder that people get confused. Definitely. So I agree so much with you. When I saw the Graduate Employment Survey for the year that I graduated, I was wondering how come my money is so much lower than what my peers are earning. So it doesn't seem to quite make sense. So to get some clarity around this, we are speaking with someone who knows how this works. Let's welcome Eugenia Ng, Director at Recruitment Agency, Michael Page. Welcome. Thank you. Thanks for having me. All right, let's jump right in. So Michael Page, the company that you're working at, also regularly releases such salary guides. Help us to understand how are these salary benchmarks in Singapore created? Who decides on what it is? Great question. Depends on the sources, the way they gather the information could vary quite differently. So here at Michael Page, and I think along with a lot of other recruitment agencies, we gather our data from the candidates that we've placed. The budgets that the clients have given us for particular job types. Besides those live data, we also have salary surveys, which we send out to our clients who opt to participate. And then we have a huge back-end team that consolidates all this information. However, they are also probably more tiered towards mid to senior ranges. There are also other sources, for example, the government sources, where I think it's a broader range, you know, from blue-collar workers all the way to executive hires. So what you're saying is that the salary data that you get comes from a subset of your customers, which represents a subset of the market. And then there are many different kinds of salary data. Some of it can come from the mid to higher level. And that's where maybe most of the executive search firms, they tend to publish these sorts of reports. That's correct. Yeah. And now I understand because in the past, I always wondered who do they talk to, to get this salary range. And if you're only talking to people who are applying for jobs, then I would be wondering whether do these people have better negotiating skills, maybe. But then you're also getting from your clients who set a particular budget and say, for this role, I am only willing to pay, let's say, a range of this to that. So it makes sense that you are looking at it from both sides. Does it change from year to year, depending on the market? If it's like a recession year, then maybe all salaries might be suppressed a little bit. Slightly. Yes. In more recent conversations, potential candidates would say that the job offers they're getting are slightly lower than their expectations. We get that a lot from our candidates. So am I right to assume that the benchmark is probably higher for roles where supply is a lot less than the demand? Say, for example, maybe five years ago, when everybody's just talking about AI, right, and not a lot of us have those AI skills, then all of a sudden, companies want to tap into that. They might then go, I'm going to increase the salary benchmark for this particular role because there's not enough people in the market for me. Yes. Exactly right. So with so much effort going into putting out a salary report, what are the use cases for the salary report? Like for, let's say, the average person on the street, how if they were to download the report from Michael Page, what could they do with it? I always tell my candidates, you have to benchmark the data that you get from these salary reports against your own experience level, because, you know, these job titles in the salary surveys are very broad. They're very generic. So tailor that towards your own experience. How much experience have you got within a particular job grade, job type, job function? Okay. Rule of thumb, what I tell my candidates is, if you're looking at one particular source, it may not be entirely accurate. So two to three sources, like you would see government data, maybe a little lower. Well, because it's a wider pool that they were sampled from. So when you average that out, there will be some deviations. Okay. So if we are looking at all these different numbers, you look at these three different sources, what do you do? You plus everything together, divide by three? No, no. That would be what I would do, you know, honestly. No, no, no. I mean, there is also some logic to it, right? A finance manager with eight years of experience in an SME versus a blue chip MNC versus maybe a government linked organization and job titles are generic. A finance manager in a startup could do a broader role than a finance manager in a multinational with multiple finance managers, right? So there has to be a little bit more discussion around the job role that they are applying for. Our rule of thumb when candidates come to us is we seek to understand where is the job offer? What does the scope entail? Then we dive into the role and we give them a narrower benchmark. I think when we are looking at salary data, it's also important to look at what the role is paying for, right? The job description, the duties, the scope of work, the range of responsibilities that would give us some idea of how much we should be asking for, right? So if we are looking at a report and the amount is quite big, bigger than what our other sources are telling us, then maybe we have to understand that this is a bigger role. And then if let's say for the same title, but how come it's lesser, it could be because it's a smaller company, lesser responsibilities. So that's why the pay is lesser. So these are questions that you can then take to the hiring manager during the interview and say, I noticed that this scope may not be very all-encompassing, help me to understand are there other things that you would like me to do in this job role? Because I don't think it's wise to just say, oh, I looked at all the other data and I saw that you guys are offering very high, then the hiring manager is going to go, oh, okay, sure. You're not expecting that much. Let's slash it by 20%. For me, when I see a job role and it's having all these responsibilities, my understanding would be that, hey, you got to pay to make me do the work, right? It has to be commensurate, the effort and the salary. But the reality is the market forces, they tend to look at your last drawn, right? And then they try to either give you a bit more from there, or maybe sometimes they'll cut down, right? So I think if I'm a job seeker, I want to negotiate based on the job description. And of course, I'll be using other reports to back me up that negotiation process. So earlier on, we were talking about the idea that this is like a benchmark, right? So if I'm a job seeker, should I take this very seriously? Should I say, okay, this is the median and the average, and I need to hold on tight to this number? I don't think so, because you go down the wrong path of the negotiation, right? Because I think in today's job market, a lot of candidates and clients alike will tell you it's not just about the salary that's tangible, there are a lot of other intangible gains. So one need to ask, what are your motivations for applying to this job? You know, is it career growth that you're seeking? Are these opportunities that the organisation is able to offer? And hence, it makes you attracted. Those value adds should also have a little bit of a price tag. So play a balanced view, because in today's market, there are many candidates applying for the same job. So you don't want to, you know, be so fixated just on salary alone, but it should be a more balanced view of what the role can offer you as well. What are some of the other ways in your experiences where people have kind of misused or misunderstood the use of salary benchmarks? In good times, especially, it's easy to just use salary benchmarks that come from recruitment agencies because they're naturally tiered slightly higher. But in today's current climate, you do have a surplus of candidates in this market that are very experienced, and they're happy to take perhaps a move on par or slightly smaller increment in order to stay relevant. As a result, it has impacted slightly very generic job types. So this is a trend that you are seeing. Absolutely. You have a finance manager with seven years of experience. You could also have a finance manager with 15 years of experience, happy to do the same role, but can offer a lot more value add, perhaps. So the question is, should that finance manager with 15 years of experience be demanding a salary of a financial controller, for example? So I think all of that has to be balanced against the job function that is being asked. Because a lot of this data is open source, right? As a job seeker, I can easily Google this data, put in my age, my experience, and then I get a sense of what I should be earning at my stage of life. I'm sure the companies do that as well. So do they use these benchmarks to try and pack how much they should be setting aside their budget for if they're hiring? There are numerous ways of looking at this. That's why today, if you log into MyCareerFuture, even for a finance operations director role, the range could be as wide as 12k to 22k. Yeah, that's huge. Yeah, that's huge. And it wasn't so in the past. Perhaps in the past, it's like a 3 to 5k range at most senior levels. I think the reason so is because organizations are also trying to see, can they hire someone and be able to groom and scale that individual in the long run? I've heard this comment before, they're inflating the titles just to make the job role look good. Yeah, there are some companies where there are multiple directors. I know of someone who says he's a marketing manager, but he says he's a glorified secretary. So the title itself could be a reason why the salaries don't quite match up. So going back to the earlier point we spoke about the job description, it's important to understand what the job entails, the scale, the scope, the range of responsibilities to understand how that fits in with the salary. So look past the title, really look into the job description to see whether it matches up with the salary that you're given. I ever had one experience before, I won't name this company, but they were looking for a gardener and paying this gardener $5,000. What were they calling the gardener? Horticulturalist? Literally just a gardener, right? But they couldn't fill that position. And when we went down to take a look at this gardener role, wow, there were so many duties required of this person. It was just, I understand why nobody wants to take the $5,000. And then the miss were asking the right questions during the interview. They were saying, okay, what exactly do you need me to do? And then the girls go, it's not worth it. 5K ain't cutting it. Titles don't always map neatly across the companies. So I always ask the candidates to break it down to what your understanding of your abilities are, your experience. And a good benchmark would be you can check off 50 to 70% of what's required. And the remaining 30% should be learning opportunities. But do you face situations where let's say the client comes to you and say, I've set a budget for this role, right? And then you go back to them and say, okay, according to the benchmark that we've released based on the data that you have collected, it's a bit too low. So you need to increase the budget. Otherwise, basically if you are paying peanuts, you hire monkeys. Do you all go back to them and advise them? Because we are also in a client servicing role, we don't just tell them. In fact, we show them. We show them through CVs for candidates. This is the range of experience and these are the range of salaries that you get. And then we help the clients make an informed decision to accurately benchmark the experience level they're looking for. Okay. Okay. I think what they do is pretty important for the industry because the clients, they also do refer to this to know how competitive they are in offering the packages. So it's a value add to their HR to let them know whether are they still keeping up with the market? Are they able to attract the best talent? So beyond all these published benchmarks, I'm wondering, are there other ways to figure out what the fair market rate is for, let's say, my own salary? Because Gerald is like doing something with his fingers. I'm counting the air. Oh, you're counting the air. For the magic numbers. Early on, we say like a finance director could be 12K all the way to 22K. Yeah, that's the growth potential. If somebody's offering you 12K. But then again, you don't know whether you will ever move, how fast you will move within the band. So what is fair besides talking to your friends? There's so many different avenues. I would say, again, it's back to benchmarking against what your experience can offer the role. Then thereafter, is there an increment from where you're currently at? How much of an increment is going to be worth for you to make that move? And how do you work X percentage more? So all of that is very subjective. Okay. Early on, because you all were talking about experience, right? But then I've also learned in hosting this podcast that in this current job market where everything is all about the job will change while you are at it. And people are always talking about upscaling, trying to pivot and everything. What if, let's say, I've been doing this for 15 years and then I want to get into a similar role. But then the next company want to try and pivot towards using AI tools, but you don't have those skills. So how much of your 15 years of experience can you use as your calling card? That's a very tough one because it really also depends on the mindset of the hiring managers. How open-minded are they to assess your 15 years experience and your ability, your learning agility to be able to pick all these things up. We always encourage candidates mid to senior level, like 35 years and above, continue to upscale yourself. There are a lot of resources available in Singapore and it comes relatively affordable. And there's only one way out. It's an upside to your ability to value add to the next role. Yeah, I think the value adding is important. You know, if you want top dollar, you have to give top value. And that top value would mean that you're able to meet the expectations and the range of responsibilities expected. But I also want to just caution, right, not upscaling for the sake of upscaling, right? You really got to decide whether this is a role that you want to do and that whatever you're enhancing yourself in, in terms of your skill sets, it's really coming from a very internal motivated perspective, rather than I'm just picking this skill just to show you have the cert and then I can justify the high cost. It has to produce results, right? You have to take the skill and show the next employer, how am I going to use my 15 years plus this new skill that I have in AI, how am I going to solve a complex problem for you? And that's the reason why I can earn that 20% more, right? And to that point, Gerald, we also encourage our candidates that are happy in their current organisation and they come to us just to understand if I make a move, I get a 10 to 15% increment, but you never get that 10 to 15% while you're still employed in the same company. So we always urge them to think about what are some extra skills that you can pick up along the way and then have an open conversation with your managers to understand what are the current gaps to that next level and how do you keep yourself in a competitive range. A lot of job seekers, they tend to just wait for recruiters to call them and offer them something better and then so they're just waiting to hear that magic number. But if they don't get that magic number, then they are just going to stay put. So nothing changes. But you know what, if you don't do your part, how are you going to be noticed? And what do you have to say at the next interview table, the opportunity that you get? Going back to talking about salary benchmarks, say I've done my homework. Would you advise that I will take that information to the negotiating table and then tell the hiring manager, you know, oh, you are shaking your head. You are shaking your head even before I finish the question. It's never well received. Perhaps understanding from your talent acquisition coordinator, manager or the hiring manager, what are some gaps for you to achieve that next level versus here are some of some salary benchmarks and why am I not getting offered at that level? So what if you are not offered that salary? What can you say? Gerald earlier mentioned most employers would offer the salary at an increment from your last drawn. There will also be some questions with your future employers. Why did your previous organisation offer you that level? Are those your capabilities? The other way to pitch it is it depends on the category or the type of organisation you came from. Maybe you took a pay cut to join an SME startup and now you're ready to return to a different level where you can contribute this much more and be benchmarked against it. Your recruiter will typically help with that negotiations with your future employers. I definitely talked about, can I bring the salary information to an employer? I think you can, but if you're in a job already. So I've seen cases before where employees, they feel that they are very underpaid for many years already and they cannot stand it anymore. So they do their own research and they actually approach HR. And ask for a salary adjustment. Yeah, they just ask like, is this fair? Because they have not seen a salary revision across the board and sometimes companies they don't do that and then the competitors are paying a lot more. So they go there and ask HR, is it possible to get a pay increment? And the market figures is like that. And sometimes, just sometimes, it catalyzes that process of a salary review. And everybody benefits, right? So you could be saving everybody's career in the company. So thank you so much, Eugenia, for coming on and explaining to us. I know that this is not an easy topic for us to go into because the employee's point of view, you're never paying enough. So thank you so much for being so patient with our questions and we're just asking for Thank you, thank you so much. Thank you for having me. Hi and welcome to our brand new segment. We're calling it The Workfeet. From full-blown rants online to your confessions that you are sharing with one another. We unpack the real questions and stories that you are sharing with each other. Today we're looking at something that came from Reddit. People who actually like their jobs. What do you work as? Okay, Gerald, start with you. Do you actually love your job? I love my job, I do. But not every day. Some days maybe a bit more, some days less. For me, yeah, same. There are parts of my job I don't like. Your boss is listening to this. Yeah. I love my job, but there are really parts of my job that I don't like. I think that is the reality. But I'm asking you because I was actually reading on Reddit. This person started a thread and the title was people who actually like their jobs. What do you work as? It sort of got me thinking as well. What does it take to really love your job? Yeah, can you love your job fully? Or what if your job is not very exciting? Or what if you don't want to love your job? Some people just want to have that work-life separation, right? Yeah, true. So this person that I read, Acceptable Cheek. Okay, I'm just going to say that Acceptable Cheek is a she, so it's easier for me to read. So Acceptable Cheek, interestingly, is a pastry cook. Acceptable Cheek says, I took up F&B training at IMH, the Institute of Mental Health. I started as a dishwasher, then became a cook, and then joined a bakery. The experience at the bakery allowed me to be competent enough to work at a hotel. And the favourite part of her job is making the best version of desserts that goes out to buffets and functions. In a cliché sense, she says, I make them with love and send them out proudly like my babies. Wow, I clap. Yeah, just clap. I clap for you. Just clap for her. It's like this is the ultimate expression of loving your job. To the point of you see how you have grown in your career. And then after that, even the things that you make, you see so much love in them. Yeah, it's so wholesome because it is not just about loving the job, but taking pride in every single dessert that she's making and sending them out like her own baby. I think when you say taking pride in what we do and every step, I think that's something that a lot of people sometimes, it doesn't jive with them. They don't take pride. They just do the work, just submit, do the bare minimum. But I think when you really love your work, every part of your work matters. You do it with a lot of professionalism. You really do it with a lot of heart. When you see people who are like that, what do you think about them? Do you think they are too into their jobs already? I'm not like that. When I first read Acceptable Chick, of course, I was like, I want you to tell me where you are cooking at because I want to go and taste your pastry. But I remember when I saw this, I was thinking, for real? Like, do you really love your job that much? Dan saya rasa Acceptable Cheek mungkin menulis fikiran saya kerana kemudiannya, di pos, Acceptable Cheek berkata, sebenarnya di pekerjaan ini, terdapat banyak berdiri, berjalan, menjaga, dan menempatkan, saya rasa menempatkan semua pencuci mulut. Dan dia kata, ia bukan untuk semua orang. Dan sebenarnya, ia bukan apa yang dia berharap menjadi juga. Tetapi dia hanya berpunca untuk berakhir dengan persekitaran ini di mana dia dapat berkembang. Jadi, saya rasa ada sesuatu di sini. Jadi, ia membuat saya berfikir, sebenarnya Acceptable Cheek membuat yang terbaik daripada situasi dia. Ya, dia tidak tahu apa langkah seterusnya, sama ada ia akan menjadi baik, tetapi bagaimanapun ia berjaya. Saya yakin anda mendapat banyak perkara ini juga. Orang selalu bertanya kepada anda, bagaimana saya merancang untuk kerjaya saya? Tetapi kadang-kadang, ia bukan begitu banyak tentang bagaimana anda merancang untuk kerjaya anda, tetapi di mana anda berada, bagaimana anda membuat yang terbaik daripada itu? Ya, tepat sekali. Adakah itu yang anda beritahu orang juga? Saya rasa sebahagian besar daripada ini adalah membuat yang terbaik daripada di mana kita berada. Kerana kadang-kadang, tempat yang baik yang kita berada di, ia mungkin tidak bertahan lama juga. Jadi, ia mengenai sikap kita, cara kita berkembang dalam kerja kita, dan belajar untuk melihat lebih banyak makna dalam apa yang kita lakukan, memasukkan hati kita ke dalam tugas itu sendiri. Orang akan melihat perkara-perkara ini dalam diri kita juga. Kita akan diberkati, kita akan dikenali atas perkara-perkara ini. Dan juga, ia hanya membuat kita rasa seperti kita ingin bekerja lebih banyak setiap hari. Kita rasa seperti kerja yang saya lakukan ini penting. Dan saya rasa itulah di mana anda menyedari bahawa sebenarnya saya memang menyayangi kerja saya. Saya rasa kebanyakan orang, apabila saya bercakap dengan mereka, mereka akan berkata, adakah anda menyayangi kerja anda? Ia seperti... Ada sebuah berhenti. Mereka akan berhenti. Kemudian selepas mereka memikirkannya, mereka akan melihat sekeliling, dan melihat adakah bos mereka sedang mendengar. Atau HR mereka sedang mendengar. Mereka akan berhenti, dan kemudian mereka mungkin berpikir sedikit. Ia tidak begitu teruk. Ada masa-masa di mana anda menikmati kerja anda, dan kadang-kadang ia boleh berkaitan dengan lingkungan, bukan sahaja tugas, tetapi juga dengan rakan sekerja anda, bos anda. Saya mendengar banyak kisah daripada orang yang berkata, saya tidak menyukai apa yang saya lakukan, tetapi saya menyayangi orang yang saya bekerja dengan. Kerana mereka membuat saya rasa seperti keluarga. Mereka membuat saya rasa berhati-hati dan mendukung. Dan saya tidak tahu sama ada saya boleh mendapatkannya di tempat lain. Okey, jadi secara jelas, budaya kerja sangat penting, persekitaran itu sangat penting. Kembali kepada idea, bolehkah anda sebenarnya menyayangi kerja yang mungkin tidak kelihatan sangat menarik? Atau mungkin dalam fikiran beberapa orang, agak menial, kerja, jenis benda. Kerana dalam thread yang sama, ada seseorang yang dipanggil Win Fong. Okey, saya hanya akan berfikir bahawa Win Fong adalah seorang lelaki. Jadi, Win Fong adalah pemandu taksi. Dia menulis di sini, dia bayangkan bahawa dia memainkan tugasnya seperti permainan. Seperti permainan pemainan. Jadi, dia berada di kedudukan pemandu, dan dia berpura-pura mencapai titik pengetahuan, membebaskan perbezaan dia. Saya tidak tahu, apa yang anda lakukan dalam permainan? Adakah setiap kali dia mengambil penumpang dan menghantar mereka, dia berusaha untuk mencapai titik pengetahuan, mencapai tahap tertentu. Ya, saya tidak pasti sama ada saya mahu duduk di teksi Win Fong. Tetapi, nampaknya dia mempunyai fikiran yang sangat berfikiran. Jadi, ia tidak melihatnya sebagai sangat mundane. Hanya memandu, ia adalah pergerakan 8 jam lagi, atau apa-apa pun. Dia sebenarnya mencari tujuan dan makna, dan membuatnya untuk dirinya sendiri. Saya hanya berfikir bahawa orang yang dapat melihat makna tambahan dalam kerja mereka, di atas rutin yang mereka lakukan, saya rasa mereka membawa sesuatu yang sangat istimewa ke dalam tempat kerja mereka. Jadi, contohnya, jika seseorang melihat memandu dan menjemput pelanggan sebagai cara untuk menghubungkan pelanggan. Oh ya, anda berkongsi dengan saya contoh itu. Saya melihat video ini tempoh hari daripada pemandu teksi ini, dan dia mengatakan bahawa dia mahu membuat penumpangnya gembira. Dia mengatakan bahawa dia memasukkan manis ke belakangnya. Dia mempunyai manis yang berbeza untuk pelanggan yang berbeza, orang tua, anak-anak, jenis manis yang berbeza. Kemudian, dia bahkan memasukkan notepad. Seperti notepad kecil dengan pen di sana. Dan kemudian dia menjelaskan kerana dia telah melihat banyak penumpangnya semasa mereka berbual di telefon. Kadang-kadang mereka perlu menulis sesuatu dengan cepat. Jadi, dia perasan perluannya. Dia memasukkan notepad ke pen di sana. Itu sangat manis. Luar biasa, bukan? Dan kemudian saya berfikir, wau, lelaki ini berusaha, dan dia mengambil begitu banyak kebanggaan untuk melakukan ini. Untuk membuat hari seseorang lain. Ya, dan tentu saja, jawapan dari penumpangnya memberikan dia begitu banyak kegembiraan. Dia mengatakan bahawa anak-anak, apabila mereka mengatakan penumpang terbaik, ibu bapa mereka menulis pada notepad. Terima kasih, pak cik. Dan dia mendapat mesej ini, dan mesej ini berkata, dan ini membuat hari dia. Dan ini adalah perkara yang tidak boleh dibeli oleh wang. Ya. Dia akan menerima harga yang adil, tetapi dia berjalan pulang dengan kepuasan mengetahui bahawa dia membuat hari seseorang lebih baik. Oh, dan perkara lain ini, dia kata bahawa kadang-kadang ketika dia bercakap dengan pelanggan, dia sedar bahawa beberapa daripada mereka telah ditutup. Dan dia sendiri telah ditutup sebelumnya. Jadi, dia rasa seperti, baiklah, saya boleh buat hari mereka, saya tidak akan menuduh mereka untuk perjalanan. Tidak mungkin. Wah, lelaki ini sepatutnya Singapura tahun ini. Jadi, ini adalah jenis orang yang saya rasa seperti. Kadang-kadang ketika kita melihat orang seperti itu, kita mungkin rasa seperti, ayah, siapa seperti awak? Ia tidak mungkin, awak tidak realistik, tetapi. Tetapi saya rasa awak boleh membuat yang terbaik dari setiap situasi yang awak berada dalam. Kadang-kadang di pejabat kita di sini, kadang-kadang ia adalah wanita pantri, bukan? Ya, ya. Ia hanya untuk mengucapkan helo, mak cik. Dan mereka berbual sedikit. Mereka berbual kembali, dan kemudian awak merasa seperti, mungkin awak telah membuat hari dia. Ya, saya ingat dalam, saya rasa di kampung Alexandra, ada sebuah gerai penjualan pencuci mulut. Dan pak ciknya menari semasa dia membuat pencuci mulut. Menari? Ya, ada muzik teknologi yang bermain. Kemudian dia menari seperti robot. Dia membuatnya seperti robot. Okey. Dan kemudian awak tertanya-tanya, kenapa awak perlu melakukannya? Ya. Hanya menghidangkan pencuci mulut. Dia hanya berseronok. Apa yang tak kena dengan membuat diri kita gembira semasa kita bekerja? Ya, apa yang tak kena dengan itu? Membawa lebih banyak diri kita ke dalam kerja kita. Jadi, ya. Kami mula dengan idea Saya rasa awak boleh. Saya rasa tak kisah kerja apa. Awak tahu, cari petunjuk emas. Kami tidak mengatakannya sebagai sesuatu yang filosofi. Saya rasa itu benar. Ya, jadi jika ini adalah sesuatu yang boleh anda hubungi, sila tinggalkan komentar kami. Kami ingin mendengar daripada anda. Kami berada di CNA Podcasts di mediacorp.com.sg. Kami juga berada di Spotify, Mi Listen, YouTube dan Apple Podcast. Pasukan di belakang Podcast Work It adalah Ho Pei Ning, Janani Johari, Joanne Chan, Sai Yeh Win, Alison Jenna dan Nat Fatelvero. Video oleh Hanida Amin. Saya Jeryl. Dan saya Tiffany. Go love your job!

Key Points:

  1. Discussion on salary benchmarks, transparency, and trends in companies.
  2. Various sources of salary data like Graduate Employment Survey, MOM reports, MyCareerFuture, and Glassdoor.
  3. Salary benchmarks are influenced by sources like recruitment agencies and government data.
  4. Factors affecting salary benchmarks include supply-demand dynamics, job descriptions, and market conditions.
  5. Advice on using salary reports for negotiation and understanding job roles and responsibilities.

Summary:

The CNA podcast episode delves into the topic of salary benchmarks, transparency, and trends in companies. The hosts discuss the various sources of salary data available such as the Graduate Employment Survey, MOM reports, and recruitment agencies like Michael Page. Salary benchmarks are influenced by factors like supply-demand dynamics, job descriptions, and market conditions. The discussion emphasizes the importance of using salary reports for negotiation purposes, understanding job roles and responsibilities, and considering factors beyond just the salary figure when evaluating job offers. The conversation also touches on upskilling, negotiating based on value addition, and the significance of discussing salary adjustments with HR based on market figures.

FAQs

Salary benchmarks are created based on data gathered from placed candidates, client budgets, and salary surveys conducted by recruitment agencies.

One can find salary information from government reports, recruitment agencies, MyCareerFuture, and platforms like Glassdoor.

Individuals should benchmark the data against their own experience level and consider job scope and responsibilities when assessing salary reports.

Job seekers should consider other factors like career growth opportunities and value adds in addition to salary benchmarks during negotiations.

Employees can approach HR with market data to request a salary adjustment and potentially trigger a salary review process.

Besides salary benchmarks, individuals should consider their experience, learning agility, and value they can add to the role when negotiating job offers.

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