The job-seekers in Singapore expects a 17 percent hike during a job switch.
According to a survey by RGF International Recruitment, it was found that financial compensation is the driving factor for 61 percent of job-seekers in Singapore, with 83 per cent of respondents saying they expect a salary increase.
Working with top caliber colleagues (13.6 percent) and career advancement opportunities (10.8 percent) completes the suite of the top three factors which drive job-seekers.
The report, Talent in Asia analyzed 3,500 responses on hiring trends across 11 Asian countries and markets. The markets are Singapore, Malaysia, Indonesia, the Philippines, Thailand, Vietnam, India, China, Japan, Hong Kong and Taiwan.
The study revealed that locating and attracting key talent is a huge concern for Singapore employers, with 84 percent citing it as the most significant challenge they face.
Culture mismatch at 12.4 percent and having a low hiring budget (10 percent) were the other challenges faced by employers in hiring the right talent.
In Singapore, the study found the healthcare and life sciences industry and the technology, Internet and telecommunications sector to be the most desirable sectors for job-seekers.
Globally, Singapore came ahead of China, the United States and Europe as the top location for global job-seekers to relocate to if given an option. Singaporeans, however, are not keen on moving overseas - other than to China or Hong Kong for 21 percent and 12 percent of respondents respectively, the study found.