Have you ever asked yourself if your current job pays market value? Since discussing salary with colleagues isn’t the norm here in Singapore, it can be tough to figure out what a fair salary for your role is.
As the job market constantly evolves, it can be even more challenging to figure out the hierarchy of salary scales. Does an assistant make more, or less, then a consultant? Does the job title really matter?
In short: Yes, it does.
Our team here at GrabJobs is here to help: we’ve put together a 2024 Salary Guide for job seekers and employers in Sales, Retail, Hospitality and Food & Beverage.
Find out how much a Sales Associate vs a Business Development Manager should make, learn about trends in industries such as sales, admin, F&B, and retail, in an easy 18-page free downloadable guide!
Why You Should Read This Salary Guide Before Applying For Jobs
If you’re a fresh graduate or lacking work experience, it can be tempting to accept a lower starting pay because you need the job. However, you should not go into an interview without any indication of what the average salary is for the role you are applying for.
Most employers have a minimum and maximum pay scale for roles they are hiring for, so it will be beneficial for you to learn what the median salary for a role is, for negotiation purposes. For sales, in particular, the commission-based system will also affect your basic salary amount, so it’s useful to know what to expect.
If you’re already working in the retail, F&B, and service industry, this salary guide will help you to judge whether it is time to ask for a pay raise, and how to manage a performance review situation. Even if your employer is willing to give you a raise, they will ask you how much you’re expecting; don’t be caught without an answer! Referring to this 2024 salary guide will ensure that you stay updated in terms of remuneration information.
Why Employers Should Read This Salary Guide
Our 2024 salary guide provides accurate ranges on what employers are willing to pay to attract talent, it’s important for you to analyze whether your offers are in line with the market.
For hospitality businesses, such as hotels, for example, it is useful to see how much the median salary for housekeepers and supervisors are, so that you know how best to attract and retain your own talent. Even if you provide the best benefits, your turnover ratio might remain high if you pay significantly below market rate.
This salary guide will also help you to plan and manage your staffing budget; you can use this guide to set salary numbers for the next quarter onward. If you are currently paying below market rate, you may have to forecast a higher turnover in the next quarter, or be prepared to increase salaries by a larger amount for next year.
