Singapore: Superintendent salaries have fallen in the US and the UK since the start of the recession but have continued to rise in Singapore’s “bubble economy”, says Maritime HR Forum secretariat Spinnaker Consulting.
The Maritime HR Forum, a membership association of 60 major shipping, commodity and oil & gas employers, is one of the industry’s main sources of salary benchmarking data.
Superintendent salaries in Singapore have been on a steady upward trajectory despite the recession, the region creating its own bubble economy, with watertight rises for the past four years, Spinnaker said in a release. “This gives an indication of the tight supply/demand imbalance in this region,” the HR specialists noted.
Singapore – where technical superintendent salaries have now hit a median S$135,000 – has continued to buck the trend in salary stagnation with Spinnaker suggesting this has been down to its “rapid expansion combined with higher general pay inflation in the region than in Europe and the US”.
“There are significantly more shipping employers in Singapore than there were 10 years ago but employers are increasingly keen to recruit locally; the natural consequence is rising local salaries as demand outstrips supply,” Spinnaker said. [26/04/13]
