SINGAPORE managers are getting less bang for their buck.
That is because their disposable incomes do not mean as much as they used to, thanks to factors like rising living costs and regional competitiveness for managers, said the World Pay Report by global management- consulting firm Hay Group, based in Philadelphia.
The report released yesterday said Singapore managers are No. 4 in Asia this year, one spot down from last year's, in terms of disposable income.
Hong Kong is tops, followed by the Thai and Chinese respectively. Globally, Singapore managers rank 22nd.
And the manager on the street here certainly agrees with the findings.
Senior account manager Camellia Tan, 30, feels the pinch of price hikes in food and fuel. She said: 'While I haven't tightened my belt yet, I do think twice about where I eat, where I shop and what I buy.'
That is even though she earns 'slightly more than the average senior account manager', taking home about $6,000 per month.
In order to cope with the price increases, she intends to plan her career better so she can earn more money, and not have to watch her spending so closely.
As for assistant manager Winifred Wee, 31, she and her marketing-manager husband, Mr Derwin Wu, 32, began cutting back on eating out and recreational activities this year.
The couple, who make a combined monthly income of less than $10,000, rarely eat at restaurants now. They often cook at home or eat at hawker centres, and even watch movies less, said Ms Wee.
They had their first baby last month, and say that they worry prices of milk formula will go up more.
Industry observers say they are not surprised that Chinese managers are now enjoying better disposable incomes than their Singapore counterparts.
Ms Charlotte Park, managing director of Reward Information Services of Hay Group Asia, explained: 'The shortage of management talent in China's booming economy means companies need to pay...to find and keep management talent.'
Comparatively, this situation is less pressing in 'developed markets such as Singapore', she added.
