Thailand
Thailand: Salaries rising despite challenges
The job market in Thailand recorded overall salary growth last year despite the challenges posed by the pandemic, according to the “Salary Report 2022” by JobsDB, Asia’s leading job portal.
The consulting and retail & trade sectors led the way with highest year-on-year salary growth, while computer/IT remained the highest-paying industry with the highest number of job advertisements posted, the company said.
Based on advertisements placed on JobsDB in Thailand, 37.7% of postings offered salary increases from the year before, 30.4% showed no change and 31.9% offered lower salaries.
Salaries offered by employers in Thailand have risen by more than those offered in Singapore, Indonesia, the Philippines, Malaysia and Hong Kong, it said.
Among industries offering higher salaries than the year before, the average increase was 18.2%.
The study is based on an analysis of data collected in the first nine months of 2021, compared with the same period of 2020. For comparison purposes, median salaries were used, with some outliers or extreme values excluded.
“The Covid-19 situation has affected both the public and private sectors in recent years. In response to the current situation, all sectors, small and medium-size enterprises [SMEs] and corporates alike, have been adapting,” said Duangporn Promon, managing director of Jobs DB Recruitment (Thailand) Ltd.
“Many businesses are using information technology and devices to power their online operations. They have also been improving their internal operations to keep up with the rapid changes in consumer behaviour. As a result, the local computer/IT industry, as well as demand for tech-related positions, are continuing to grow.”
The report shows that businesses in the computer/IT industry posted more than 12,200 job openings on the JobsDB Thailand platform last year. It has been the industry with the highest number of job ads posted for two consecutive years.
With 26,300 job posts across all industries, sales and marketing was the most in-demand job function in 2021. It has been the function with the highest number of ads placed for two consecutive years.
“As e-commerce, logistics and delivery solutions undergo digital transformation, entrepreneurs recognise the importance of marketing,” said Ms Duangporn. “For the survival of the business, marketing is used to create awareness, build brand loyalty and create a strong customer base.”
The JobsDB report identifies the industries and job levels with the highest average salary offers, as follows:
Entry level: The highest average offered salary is in the computer/IT, banking and finance and telecom sectors at 32,500 baht a month, followed by 30,000 baht in insurance and 27,000 baht in electrical/electronic goods.
Managerial: Insurance tops the table at 62,500 baht, followed by computer/IT, banking and finance, telecom and oil and gas at 57,500 baht, and property and real estate, retail and trade, and food and beverage at 50,000 baht.
Senior Executive: Telecom businesses were offering 82,500 baht, followed by 80,000 baht in computer/IT, insurance, banking and finance, hotel/restaurant, and 72,500 baht in electrical/electronics, property and real estate, retail and trade, food and beverage and transport.
C-level Management: Electrical/electronics employers offer 125,000 baht, followed by 120,000 baht in computer/IT, insurance and manufacturing, and 117,500 baht in property and real estate.
When compared to the previous year, the industries with the highest increases in offered salaries by job level and function are:
Property and Real Estate: Salaries for senior executives in the computer/IT job function showed the highest average increase in 2021, at 34.6%.
Transport: For senior executives in the services job function, offered salaries were 27.1% higher than in the previous survey.
One nugget in this year’s report is an organisation’s size may no longer be important in determining salary rates. Large corporate employers generally pay higher wages, but specific fields are in high demand because of the knowledge and expertise the jobs require. To attract talent, some SMEs may offer higher salaries, according to JobsDB.
The report found SMEs pay higher wages than corporate employers for senior executives in manufacturing and C-Level management in administrative/human resources roles.
Source: https://www.bangkokpost.com/business/2275567/salaries-rising-despite-challenges