Demand for IT contract positions is growing in Singapore as organizations use flexible headcounts on projects while waiting for permanent headcount approval, according to the Robert Walters Global Salary Survey 2009. Permanent hires are, however, still being used for business critical projects.
While the economic downturn continues to make life tough for professionals, salaries in Singapore are, at least, holding relatively steady, according to the survey. It also found that while several employers have imposed recruitment freezes and redundancy programs, companies across most commerce sectors have not yet felt able to trim salary packages.
An initially buoyant job market in the first half of 2008 softened, according to the survey, as demand for IT professionals across most sectors, especially in financial services, declined. This reduced demand is expected to continue in 2009. This will lead to a situation where organizations rely on contract positions.
The survey added that many roles traditionally offered as permanent will be turned to contract positions. This will also change the mindset of IT professionals as they become more open to the idea of such contract positions.
On the whole, IT salaries could see a fall of around S$10,000 to S$40,000 annually depending on the position. There are a few bright spots though. For example, Robert Walters expect IT risk and compliance managers and directors to see a S$10,000 annual increase. These bright spots are, however, few and far between.