In a survey conducted among 2,431 chief financial officers in 16 countries - of which 150 are from Singapore - 55 per cent of companies say they are paying more to finance and accounting professionals, with the trend set to continue.
Stella Tang, managing director of Robert Half Singapore, said Singapore is a prime market for experienced finance and accounting professionals, as their skills are in high demand.
"Much of the increase in salaries in Singapore is driven by competition for the best staff. Companies are confident in their growth prospects and are prepared to pay more to attract or retain the top people they need," Ms Tang said.
In large Singapore firms with 1,000 or more staff, 65 per cent are paying their finance and accounting staff more, compared to 54 per cent of smaller firms with less than 500 employees and 51 per cent of medium-sized firms.
The survey also found that Singapore finance and accounting employees have a good chance of bagging a bigger bonus this year. Some 37 per cent of companies are increasing bonuses while 59 per cent are paying the same as last year.
Compared to the rest of the world, Singapore has the third highest number of companies that are increasing bonuses for finance and accounting professionals, behind China and Hong Kong and on par with Australia and Brazil.