2023 salary guide for SG marketing and communications industry

Companies may deepen their investments in advertising and digital platforms to capitalise on the region’s eCommerce potential, and capture the attention of populations that are spending more and more time online, according to the 2023 Singapore Salary Guide by recruitment firm PERSOLKELLY done in collaboration with SkillsFuture Singapore.

A recent report by Google, Temasek and Bain & Company said Singapore's Singapore's digital economy is expected to grow by 22% to reach US$18 billion in 2022, with the potential of reaching about US$30 billion in 2025. The growth will be driven by eCommerce, the largest digital sector that is predicted to hit US$11 billion by 2025.

As the economy opens up in a post-pandemic era, PERSOLKELLY said skilled sales and marketing professionals will play critical roles in increasing awareness and demand for products and services, retaining customer loyalty, and driving growth for businesses of all sizes.

The top 10 in-demand skills for those in the sales and marketing industry include communication, Microsoft Office Suite, creative thinking, brand management, market strategy, digital marketing management, and research. As the year comes to a close, find out how much you should be earning in 2023 as a sales and marketing professional in Singapore.

Singapore’s labour market continued to improve on all fronts in the first quarter of 2022, with total employment expanding to 42,000. Resident employment exceeded pre-pandemic levels at 3.9% higher than in December 2019, while unemployment rates have continued to trend down to pre-pandemic levels.

Singapore saw a rise in growth sectors such as financial services, information and communications, professional services, as well as health and social services among resident employment. However, consumer-facing sectors saw a decline largely due to the seasonal pattern of temporary workers hired for year-end festivities leaving in the following quarter, PERSOLKELLY said.

Job vacancies continued to rise, reaching a new high of 126,100 in Q2 2022. Due to a decline in unemployed persons and an increase in vacancies, the ratio of job vacancies to unemployed persons also increased to its highest since 1998.

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