The previous years have been unlike any other: the emergence of COVID advances in machine learning technology, climate change, and global supply chain disruption. These changes profoundly impact our daily routines with unforeseen obstacles and fresh prospects.
Changes manifest everywhere, especially in the business world. We have significantly changed the way we work, to the point that our former selves from 2020 would have a hard time recognizing it.
The speed of change is only increasing, and it doesn’t appear to be slowing down anytime soon.
However, some things remain the same no matter how much time passes: having quality leaders on your team is essential for any successful organization. The most victorious businesses prioritize making top-notch hires, especially when it comes to senior personnel.
At Curran Daly+Associates, we talk with many corporate executives and hundreds of job seekers. This gives us an in-depth look at the current salary market across various industries. Our surveys help organizations make informed decisions about pay rates.
So, if you’re seeking the finest talent for any position, it’s essential to be equipped with the newest and most pertinent information available. By refreshing your best practices and keeping abreast of current salary info, employers can stay ahead of their competition when searching for ideal candidates. Developing a proactive hiring strategy considering all these factors is imperative to ensure the organization’s success.
The Curran Daly+Associates 2023 Salary Report, which can be downloaded here, provides timely data and insights to help you get the best hires that your company needs.
Salary Report Overview
Annually, CDA’s reports provide insights into the top salary trends in the following industries: Business Process Outsourcing, Consumer Goods, Construction & Engineering, Finance & Banking, and Pharma & Medical Manufacturing.
These surveys include salaries of 150+ prominent roles, such as Human Resources Executives, Sales Representatives, and Project Managers, as well as other specific positions essential to these sectors.
This 2023 Salary Report serves as a valuable resource to business leaders and prospective job seekers, offering critical insight into the current landscape of compensation information. This report provides an array of positions that reflect our commitment to providing actionable data that can be used to make informed decisions on how much you should pay for new hires and what roles are most important in your organization. We have compiled this data to make it easier for decision-makers to understand the costs associated with hiring.
Furthermore, we provide a range of wages based on experience and position. The figures in this report reflect the base monthly salary without additional incentives or bonuses. Additionally, these values do not contain mandated contributions like Pag-Ibig, Philhealth, SSS, or 13th-month benefits that employers must follow by law.
Curran Daly +Associates strives to provide precise base salary ranges when placing business leaders in their desired professions and industries. We have obtained this information by combining our personal experience with thorough research conducted during placements.
Most of our clients are located in Manila, so the compensation data is also drawn from there. Despite being more expensive than other provinces within the Philippines, positions based in Manila are still more affordable than similar roles elsewhere, such as Tokyo, Singapore, Hong Kong, or Sydney.
Top-Paying Jobs Based on Experience
As an employer, you must consider market data to understand what salary rate is justified for a particular role. By researching pay practices at similar businesses, you can gauge the position’s value before assessing and adjusting it based on the employee’s qualifications and experience.
It’s also undeniably true that accumulation of experience is likely to lead you towards higher compensation — up till a certain point. Equally, if the job position necessitates someone with ten years of expertise or more in a specified profession and an applicant doesn’t fulfill those criteria, they may end up on the lower side of the pay list.
Here’s a comprehensive breakdown of salaries according to experience levels and job titles.
1-4 Years of experience
(Construction & Engineering, App Development, IT Infrastructure, HR)
During our survey, we found that Project Management APM II and Data Scientist roles have the most competitive salaries in this category. It revealed that APM II roles provide competitive salaries; those with 8 years or less experience can anticipate an average pay between ₱50,000 and ₱100,000 – which is higher than the salary range of other industries.
Simultaneously, as big data and technology continue to accelerate their growth rate, there’s now a growing need for junior to mid-level Data Scientists. They could potentially earn up to ₱50,000 to ₱80,000. Front-End Developers can also expect good salaries and earn the same ₱35,000 to ₱80,000.
Software engineering is also a rapidly growing field that offers attractive salaries for beginners. While the average salary for software engineers varies depending on location and experience level, they generally earn anywhere from ₱35, 000 to ₱80,000 per month.
Cyber Security Solutions Architects, on the other hand, can make an average of ₱30,000 to ₱80,000 per month with less than 5 years of experience. Lastly, Human Resource specialists with less than four years of experience can earn up to ₱25,000 to ₱35,000.
Supervisors and 5 Years Experience and Up
(App Development, Data Science & Analytics, Construction & Engineering, HR, IT Infrastructure)
Our in-depth report uncovered that Systems and Solutions Architects, particularly those specialized in Java application development, are the most lucrative role for experienced employees who have been working for at least 5 years or more. The salary for this position can range from ₱150,000 to ₱250,000.
Lead Software Engineer is also one of the most sought-after roles, with monthly salaries ranging from ₱110,000 – ₱160,000 depending on experience and qualifications.
Furthermore, because of the shortage of data professionals on the market, salaries for these jobs are highly attractive. A senior data scientist could make up to ₱100,000 to ₱180,000 a month.
A Data Analytics Lead has the potential for an excellent monthly income reaching up to ₱130,000, while Site Management Superintendent can look forward to an impressive range of between ₱80,000 to ₱150,000 per month.
Also, as we transition to a digital world, cybersecurity is advancing and requires individuals to protect computer networks and data from illegitimate access, utilization, or damage. Cyber Security Leads can have earnings ranging from ₱70,000 to ₱150,000.
With the right technical expertise and experience, a PHP Front-End Developer can earn up to ₱130,000, while a Senior Software Engineer stands to gain even more with salaries ranging from ₱70,000 – ₱140,000. And for those Safety Site Manager Leads, salaries of upwards of ₱60,000 to ₱100,000+ can be reached.
In addition, an IT Service Desk Lead can attain a salary of ₱55,000 to an impressive ₱90,000. A Site Logistics Coordinator’s earning potential is even higher with monthly salaries starting from ₱40, 000 up to an outstanding ₱120,000+.
An AMP I has the same remuneration range as the former job title, while Project Management Coordinators have numerous opportunities to earn between ₱40, 000 to ₱100, 000.
Human Resource Supervisors are also in high demand and create a lasting impact on organizations with their managing skills – they too enjoy competitive pay rates between ₱35, 000 to ₱50, 000 respectively.
IT Service Desk Analysts, on the other hand, can earn ₱25,000 to ₱60,000. Last but not least, there are excellent prospects for those who pursue their careers as Project Management Accountants with wages worth ₱20,000 up to ₱95,000.
Managers
(Data Science & Analytics, Construction & Engineering, App Development, Sales & Marketing, HR, IT Infrastructure)
Companies must recognize that managers form the foundation of any enterprise, and their responsibility is to guarantee seamless operations within the organization. An idea of the compensation for the role in different fields will give companies an upper hand in securing their desired candidate.
We found that Data Science Managers are the highest-paid managers, with salaries ranging from ₱170,000 to ₱250,000 each month. The incredible technological advances have spawned unprecedented utilization of data and thus resulted in the ever-growing need for data science professionals.
Also, Engineering Managers are among the highest paid, with ₱150,000 to ₱250,000+; engineering managers’ employment is expected to grow 2% in 2021-2031.
Cyber Security Managers are highly sought-after in the industry with a generous monthly salary ranging from ₱140,000 to ₱230,000 due to an alarming shortage of cybersecurity talent.
In addition, digital marketing in the Philippines is booming at a stunning annual rate of 9.7%, and by 2025, it will be worth an impressive $10 billion! Not to mention that Digital Marketing Managers can earn up to ₱130,000 to ₱350,000 monthly. Data Analytics Managers, on the other hand, boast salaries between ₱130,000 and ₱180,00, while Steel Detailing managers can expect incomes ranging from ₱130,000 to ₱150,000.
Sales Managers have the potential to make ₱100,000 to ₱250,000 monthly, while Project Managers can take home between ₱100,000 to ₱200,000. The salary range for Construction Manager ranges from ₱90,000 up to ₱180,000+.
IT Service Managers are eligible for salaries of ₱90,000 to ₱160,000+ depending on experience and qualifications. HR Managers stand a chance at earning anywhere from ₱90,000 to ₱120,000 monthly.
In 2023, demand for marketing specialists in the Philippines will be high as businesses seek out professionals with the expertise to help them reach their intended audience. A successful Marketing Manager stands to gain a salary between ₱80,000 to ₱200,000 – demonstrating how lucrative this position can be.
Business Development Managers are not far behind and can expect earnings of between ₱80,000 to ₱150,000. Brand/Product Managers may earn anywhere from ₱50,0000 to ₱100,000 for their efforts, while Key Account Managers have the potential to make as much as ₱50,000 to ₱100,000 per month.
Directors, Head, and Senior Managers
(HR, Sales & Marketing, Data Science & Analytics, App Development, Construction & Engineering, IT Infrastructure)
Highly esteemed employees deserve to be compensated generously. Executive roles typically offer the most lucrative salaries, and employers should assess these remuneration levels in accordance with their desired candidates if they wish to attract the highest caliber personnel.
Regarding executive positions in Human Resources, being the Global Head has the highest monthly salary with over ₱500,000 to ₱700,000. Human Resource Country Heads, on the other hand, can have a monthly salary of ₱350,000 to ₱500,000.
Sales & Marketing executives also show promising salaries, with the Vice President for Marketing having a monthly salary of ₱300,000 to ₱650,000 and the Vice President for Sales with ₱300,000 to ₱600,000.
An Analytics & Data Science Head can bring in ₱250,000 to ₱450,000+, while a Marketing Director/Head earns around the same amount. The Sales Director/Head also has similar potential earnings of up to ₱450,000, while Human Resource Directors have an earning range between ₱250,000 to ₱300,000.
Cyber Security Heads can expect an average salary of ₱220,000 to ₱300,000+, while Head of Engineering salaries range from ₱200,000 to ₱350,000+. A position as the Head of Analytics brings a potential income between ₱180,000 and ₱250,000+. Lastly, IT Service Heads may profit from earning up to a maximum rate of ₱90,000 to ₱160,000 +.
Salary Trends For 2023
The Philippines can anticipate a 5.5% salary increase in 2023, a higher rate than the previous year’s 5.3%, and bringing salaries back to pre-pandemic levels of 2019. This information was determined through Mercer’s Total Remuneration Survey (TRS), which surveyed 447 organizations throughout 11 industries during April-June of 2022.
The research results revealed that even with a regional Asia Pacific average salary increment of 4.8%, the Philippines experienced a median income increase beyond this. Though wages are pretty diverse across the region – while India enjoyed as much as 9.1 % in pay progression, Japan reported 2.2%, which is relatively low compared to other countries in Asia-Pacific.
After a period of stagnation, wages gradually started to rise as businesses in the Philippines picked up steam post-pandemic. Unfortunately, inflation peaked in 2022, meaning nominal salary increases did not equate to more money for employees.
But things look brighter heading into 2023. Forecasts indicate that while there will still be some inflationary pressure, it should be far lower than 2021’s peak – finally allowing workers to benefit from real wage growth and providing welcome news for many people across the country.
As employees become more demanding regarding salaries and benefits, businesses must rapidly adjust their hiring and retention practices to remain competitive. Organizations need to update their strategies as soon as possible to keep up with the changing recruitment landscape.
Employers should prioritize nurturing a work environment that meets their employees’ physical, mental and personal needs, an atmosphere where business requirements are met while providing ample development opportunities.
Flexible working arrangements, support for health and wellness programs, and relevant training initiatives will benefit the company and cultivate employee satisfaction, retention and engagement.
Salaries, benefits policies, budgeting plans, and recruitment trends for the upcoming year will be significantly impacted by existing compensation methods.
Employer’s Plan of Action in 2023
As an employer, you can leverage CDA’s salary data and actionable insights to make smarter decisions while planning your hiring strategy. Here are a few ways you can use them:
ACTION PLAN 1: Uncover essential factors
Filipino employees are now more conscious of job security than ever before. They additionally value work-life balance, career growth, and workplace relationships in their ideal roles. To gain an advantage over the competition and secure the best candidates possible, get a deeper understanding of what your potential hires expect from you while also being proactive by reaching out ahead of other hirers.
ACTION PLAN 2: Build your brand
Utilize this chance to enhance your employer branding and the unique selling point you can provide candidates. Remember, it is vital to attract them with an adequate offering initially; moreover, retaining talent ultimately depends upon other factors like the company’s values and how they match up with what matters most to employees.
- Grasp the Foundations of Your Company’s Employer Brand.
Employer branding is necessary to ensure your organization attracts the best talent and creates an environment where employees are cherished and fulfilled. EB goes beyond just advertising or marketing efforts; it helps to establish your company’s brand image with potential candidates firmly.
- Clarify What Sets You Apart as an Employer.
Finding a unique selling point (USP) as an employer is one of the best ways to ensure satisfied employees, which leads directly to reduced turnover. Invest in discovering what makes your organization unique and watch employee morale skyrocket.
- Uncover and Foster the Talents of Your Employees.
As employers search for the best candidates to fit their team, you must recognize and cultivate your strengths. Once you have pinpointed what abilities already exist within your organization, determining any gaps in skills becomes much more manageable. Knowing and utilizing the talents present will ensure success when recruiting new employees.
- Construct and Utilize Your Employee Value Proposition to Maximize Communication.
The Employee Value Proposition is the driving force behind why your employees should show up to work every day. It addresses “What do I get out of this?” personally, giving them something meaningful in return for their time and effort.
- Demonstrate Your Dedication to Talent Programs by Achieving Promising Outcomes.
Offering talent programs is an excellent way to demonstrate employee appreciation while keeping them happy and motivated. Talent programs are the perfect business opportunity to make employees feel valued, celebrated, and engaged.
- Continuously assess and upgrade your processes for sustained success.
It is essential to constantly evaluate and adjust your branding strategy to maintain market relevance. As the industry, customers, and business environment transform around you, staying up-to-date with trends will help give you a competitive edge.
- Ensure Proper Communication With Employees.
An employer brand strategy is ever-evolving. Businesses and employees need to constantly adapt, meaning companies must continuously redefine their purpose to keep up with the times.
ACTION PLAN 3: Promote workforce diversity
As the work environment progresses, you can build a more diverse and inclusive team beyond geographical limitations. The hybrid workforce eliminates previous physical boundaries to create opportunities for everyone.
Final Thoughts
Curran Daly+Associates’ placement services ensure we deliver the best possible results. Our consultants are well-connected and highly experienced in their fields, so they can easily communicate with candidates while still delivering an urgent response time.
In today’s ever-changing salary trends, it’s essential for employers to stay updated in these changing times and adapt to keep ahead of the competition.
With this salary report, employers will have a more in-depth understanding of the current market expectations, so they know exactly what steps to take and drive their businesses forward.
For further details about the report, you can download the Curran Daly+Associates 2023 Salary Report here.
References:
Magkital, B. (2022, November 23). PH salary hike for 2023 to hit pre-COVID-19 level -survey. Manila Bulletin. Retrieved on February 17, 2023 from https://mb.com.ph/2022/11/23/ph-salary-hike-for-2023-to-hit-pre-covid-19-level-survey/
ReWorking. (n.d.) The Employer Branding Action Plan. Retrieved on February 17, 2023 from https://reworking.com/the-employer-branding-action-plan/#:~:text=What%20is%20an%20employer%20branding,you%20attract%20higher%20quality%20applicants.
JobStreet. (n.d.). How To Use The JobStreet Salary Report To Hire Better in 2022.Retrieved on February 17, 2023 from https://www.jobstreet.com.ph/en/cms/employer/laws-of-attraction/inspirations/how-to-use-the-jobstreet-salary-report-to-hire-better-in-2022/
0 Comments