INDONESIA Macroeconomics had a major impact on recruitment trends in Indonesia in 2014. The country’s burgeoning middle class continued to spend its new found disposable income, driving a huge increase in consumption with 90% of GDP spent internally during the year. This led to significant growth among both start-ups and established companies, particularly in professional services, FMCG, IT, technology and general manufacturing – creating a demand for bilingual professionals which reached an all-time high. As a result, demand for specialist skills outstripped supply. This was further impacted by high barriers to entry for overseas workers. SUMMARY
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INDONESIA
Macroeconomics had a major impact on recruitment trends in Indonesia in 2014. The country’s burgeoning middle class continued to spend its new found disposable income, driving a huge increase in consumption with 90% of GDP spent internally during the year.
This led to significant growth among both start-ups and established companies, particularly in professional services, FMCG, IT, technology and general manufacturing – creating a demand for bilingual professionals which reached an all-time high.
As a result, demand for specialist skills outstripped supply. This was further impacted by high barriers to entry for overseas workers.
SUMMARY
During 2014, increased
nationalistic sentiment in the oil and gas sector resulted in projects being delayed or reduced.
As this trend continues, we expect to see diminished opportunities for multinational oil and gas companies within the Indonesian market. It is also not yet clear whether the formation of ASEAN in 2015, with its promise of increased freedom of trade, will deliver as much of a boost to Indonesia as it will to other countries in Southeast Asia. However, high levels of domestic market activity look set to continue.
As a result of strong market conditions, salary expectations among job movers in Indonesia were in the 25-35% range in 2014. Some in-demand skill sets, such as compliance even saw increases of 50% or more. However, these wage inflation trends have been balanced by general inflation, which was around 8% in 2014, and will most likely continue at this level into 2015. Hiring managers looking to secure key candidates will need to meet these salary expectations, while also offering quality training and development programmes and opportunities for international exposure.
ACCOUNTING & FINANCE
In 2014, there was a steady demand for experienced, qualified accounting and finance professionals. In what is a highly regulated market, key candidate requirements include skills and experience in financial control, risk and compliance, while a good command of
written and spoken English is a prerequisite for those looking to join multinational organisations.
As companies continued to internationalise their finance functions, Indonesians with overseas experience became highly sought-after, with salary premiums of approximately 20%. The need to evolve the finance function into ‘value-add’ operations also led to ongoing efforts to professionalise systems, processes and procedures. Those who can take advantage of this increased ‘sophistication’ within accounting and finance will be highly sought-after.
BANKING & FINANCIAL SERVICES
The banking and financial services sector continued to grow in line with the increasing wealth and consumption of the local population. Savings, accounts, mortgages and credit cards are all experiencing double-digit year-on-year percentage growth in Indonesia, resulting in widespread demand for individuals with strong retail banking experience.
Continued legislative reporting and compliance demands ensured strong hiring activity in these areas, and this trend is likely to continue in 2015. Major opportunities also exist for asset managers, investment bankers and insurance specialists, although the limited supply of appropriately qualified professionals presents significant hiring challenges.
HUMAN RESOURCES
As the corporate landscape continues to develop, the HR function became increasingly important for companies across all sectors. Specifically, companies were looking for candidates who could implement
robust HR practices and procedures, with particular demand at the senior level for strategically minded business partners. At mid-management level, professionals who could execute operational plans and drive organisational change were popular hiring options in 2014. We expect this trend to continue in the year ahead.
SALES & MARKETING
Individuals with successful track records of increasing sales or developing brands were in high demand as companies endeavoured to take advantage of Indonesia’s macroeconomic environment. With revenue growth targets for products regularly exceeding 30% for established lines, senior directors and managers who can improve productivity will be sought-after in 2015. We anticipate growth will continue in all sectors, particularly in FMCG, electronics and IT, pharmaceuticals, manufacturing and professional services.
INDONESIACOUNTRY OVERVIEW
As a result of strong market conditions, salary increase expectations among job movers in Indonesia were in the 25-35% range.
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JAKARTA SALARIES
Robert Walters Global Salary Survey 2015369
ACCOUNTING & FINANCE
ROLE PERMANENT SALARY PER ANNUM IDR (RP)
2014 2015
Accounting & Taxation
Head of Tax 624 - 754m 686 - 830m
Group Accountant 390 - 470m 405 - 490m
Senior Tax Accountant 175 - 200m 190- 220m
Accountant 120 - 175m 132 -190m
Tax Accountant 120 - 150m 130 - 165m
Analyst
Senior Financial Analyst 250 - 350m 260 - 365m
Financial Analyst 150 - 200m 160 - 225m
Audit
Internal Audit Director 700 - 850m 735 - 890m
Internal Audit Manager 300 - 400m 330 - 440m
Senior Auditor 250 - 320m 275 - 352m
Auditor 143 - 208m 155 - 228m
Finance
Chief Financial Officer 1430 - 1755m 1500 - 1840m
Finance Director 975 - 1209m 1020 - 1250m
Financial Controller 600 - 700m 630 - 735m
Commercial Finance Manager 450 - 620m 400 - 500m
Senior Finance Manager 300 - 500m 330 - 550m
Finance Manager 275 - 390m 310 - 430m
Treasury
Treasury Manager 300 - 400m 330 - 440m
Treasury Analyst 120 - 150m 130 - 170m
NB: Figures are basic salaries exclusive of benefits & bonuses unless otherwise specified.
