“Aviation sector poised to soar” |
| Aviation sector poised to soar Posted: 22 Feb 2011 05:02 PM PST BY REICO WONG AEROSPACE engineering undergraduate Wang Zhihong, 24, is highly optimistic about his job prospects, as the aviation and aerospace market looks poised for robust growth. The third-year Nanyang Technological University student, who will graduate next year, said that he is at least 80 per cent confident of securing a job in the industry. This is especially so with the phase-by-phase opening of the new 140ha Seletar Aerospace Park (SAP) which began this year.He is hoping to get offers from larger international aviation and aerospace firms such as Rolls- Royce and SIA Engineering. "I'm looking forward to finding a permanent job which challenges my mind, offers good career prospects and a comfortable salary," said Mr Wang, who is currently doing an internship with Rolls-Royce. His optimism is well-placed. International professional-recruitment agency Robert Walters said in its job-market and salary update yesterday that the local aviation and aerospace sector is set to be a key engine of employment growth in Singapore this year, with the first phase of SAP scheduled to be completed this year. The rosy outlook for the industry is likely to extend into at least the next year as well. About 10,000 new aerospace- related jobs are expected to be created with the new development. The bulk of the new jobs is forecast to be for skilled and technical positions. "Salaries are expected to rise between 10 and 15 per cent for staff who change roles, although firms will pay a premium for highly sought-after candidates with niche skill sets," said Ms Andrea Ross, managing director of Robert Walters for Singapore and Malaysia. Her view echoes that of Rolls-Royce and Eurocopter South-east Asia, both of which have operations planned in the Seletar development. Rolls-Royce, for example, said it expects to expand its staff size in Singapore by about 180 this year with positions at its Seletar Assembly and Test Unit and the Achord Facility. Singapore is a key business hub for the group. Robert Walters also said that the battle for talent across many industries in Singapore, which began last year, is expected to continue, and professionals can look forward to higher salaries. This is especially since many foreign companies are focused on developing their operations here. Salaries of informationtechnology professionals are predicted to rise 10 to 12 per cent this year, and the bulk of those in the banking and financial- service industry will see a similar increase. Banking and finance personnel with harder specialist skills can expect up to a 25 per cent increase in their salaries. However, Robert Walters cautioned that candidates should not expect this when moving to identical roles. "This year, we also anticipate a growing interest among candidates in contract assignments as they look to gain varied experience, increased exposure and the opportunity to work for renowned companies," Ms Ross added.
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