The Adecco Group Thailand, a recruitment and staffing agency and a global leader in HR solutions, has released its Salary Guide 2020, which gives a comprehensive overview of updated salary statistics on over 800 positions based on the monthly salary rates of its clients from more than 3,000 companies.
Adecco’s study shows significant pay rises for top executive positions in every field, while the highest-paying jobs for fresh graduates remain positions in the IT field. Overall, the findings reflect the demands for talent as companies undergo digital transformation.
*Remarks: These figures show approximate salary ranges. Some positions might yield lower or higher salaries depending on candidates’ capabilities, the business field, and the salary structure of each organization.
Highest New Graduate Starting Salary Hits THB 40,000
According to Adecco’s Salary Guide 2020, the minimum salary for Thai fresh graduates is 12,000 baht, which is a slight increase from four years ago, when the starting salary was 9,000 baht. The current maximum starting salary of fresh graduates is 40,000 baht. The report also found that most of the fresh graduates earn around 18,000–25,000 baht
The best-paying job for fresh graduates this year is programmer/software developer, with a maximum salary of 40,000 baht, as the position is experiencing high demand in the market. Many organizations are now looking to develop their own websites and applications, and if new graduates possess the skills and talent to develop software in line with the company’s requirements, as well as being able to communicate effectively in English, the new graduates could earn a starting salary as high as 40,000 baht or more, depending on the salary structure of each organization.
There are also other careers that offer attractive salaries to fresh graduates, with a maximum of 35,000 baht. These include sales engineer, project coordinator, personal assistant, Japanese interpreter, and other Japanese-speaking sales positions.
Rise in Top Executive Salaries as Companies Undergo Digital Transformation
The Salary Guide 2020 also found a significant pay rise for top executive positions in every field. This is because digital transformation is currently a high priority at most companies, which creates high demand for top executives to lead and drive digital business transformation. Many employers today are offering competitive compensation to attract and retain top talent in their company, which has resulted in sizable pay rises for top executives over the past five years.
These figures underline the widen salary gap between operational-level employees and top executives, which has been occurring in many countries due to a shortage of talent and skill. Low-skilled laborers are being replaced with AI and automation, which creates an oversupply of low-skilled labor. On the other hand, there is a shortage of people with the desired skill sets—especially executives equipped with vast experience and digital skills. This results in higher compensation for executives, and salaries will likely continue to rise more rapidly than compensation for other positions.
Changing Hiring Trends: Organizations Seek Well-Rounded Employees
Tidarat Kanchanawat, country director of the Adecco Group Thailand, said, “The salary level of each position in each field reflects the demand and supply of each job position, while also revealing the need of the job market as well as the spending power in compensation and benefit of each organization.
“From the present state of the economy, we have seen many organizations slow down their spending and cut costs in various areas including those related to human resources. Companies are shifting towards a lean organization that focuses on lowering costs and adding values to customer satisfaction.
“Today, companies are hiring more freelancers in order to decrease the company’s fixed costs. Meanwhile, companies are seeking employees with multi-skills —not only to gain the most from them, but also to combat the constant disruptions in the business world. Thus, organizations need employees who are well rounded with their knowledge and skills so that they can adapt to various situations and create a competitive advantage. For example, for those in the marketing field—apart from possessing experience and expertise in this field, employees need to learn digital skills, design skills, and possess an understanding of IT systems or e-commerce.
“In the future, the salary trend will depend more on the candidate’s skills rather than degrees, as knowledge gained through education will always lag behind knowledge that is gained through real-world situations. Thus, degrees will not be a good tool to measure the capabilities of candidates. Most importantly, candidates should focus on whether their knowledge and skills are desirable in the market. To get ahead, workers need to be constantly learning and developing their skills, including upskilling and reskilling. These skills will add value to candidates and will persuade organizations to pay a higher salary and enable employees to rise to higher positions in the company.”
About the Adecco Salary Guide
Published every year since 2014, the Adecco Group Thailand’s salary guide is a comprehensive overview of the latest salary information based on the salary rates of its clients from more than 3,000 companies in various industries. It covers a variety of jobs, such as sales and marketing positions, IT and digital positions, engineering and technical positions, industrial positions, Japanese-speaking positions, and general administrative positions, encompassing employees at operational, middle-management, and executive levels. The objective of the guide is to assist organizations in planning for appropriate salary structures and compensation while providing candidates with information that will help them in the job application process. Companies and candidates may browse the online salary guide and download the PDF version at adecco.co.th.