PROFESSIONALS in the financial services sector are expected to receive bigger pay packets and fatter bonuses next year, following a sharp economic recovery and buoyant stock markets this year.

These staff at banks, insurers and the like can expect pay hikes of between 15 and 25 per cent next year, said human resource (HR) consultancies and headhunters.

Salaries are also expected to grow for staff in other sectors of the economy, but at a much slower rate of about 3 per cent to 5 per cent, they said.

Already, finance sector professionals have seen bigger bonuses this year.

All 10 human resource agencies that The Straits Times spoke to yesterday agreed that next year will be an 'employees' market' with more jobs than job-seekers in many sectors.

Adecco's South-east Asian regional director Lynne Ng said that talent will continue to be in short supply in some sectors such as finance and hospitality.

Pay hikes for finance sector