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Payroll And Benefits Manager Salary – For effective outsourcing, it helps to familiarize yourself with the various salary options available in the Philippines. Salary and compensation packages can often be difficult to understand and the calculations can be confusing for most people, especially if you are halfway around the world.
We will simplify and explain down to the smallest detail about salary and compensation in the Philippines. This may seem like a lot, but these things are usually done with a BPO service provider when you sign up with them – and they usually bundle all of these costs, governance and guidelines into a simple pricing structure.
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Below we also provide a table of expected salaries for 21 common jobs in the Philippines and comparable rates for jobs in the US, UK and Australia. Probably the biggest “salary surprise” when foreigners hire Filipinos is the “13 months” (or 14, 15, etc.) salary payment. We explain this below in a complete guide.
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Expected to join the world’s top 20 economies by 2050, the Philippines is currently 2
It is the fastest growing economy in East Asia with an annual gross domestic product (GDP) growth rate of 6.60% in 2017. Trade Economics estimates that the country’s GDP per per capita will reach 4,970 USD
Key contributors to this growth include the country’s high infrastructure spending, which reached a record $17.7 billion in 2017, as well as remittances, consumer spending, and its strong and expanding information technology and business process management (IT-BPM) industry.
IT-BPM is at the top of the list of industries in the Philippines when it comes to job offers and hiring. At the same time, the industry is also one of the biggest contributors to the country’s economy.
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The 2014 Annual Survey of Philippine Business and Industry (ASPBI) is a Business Process Management (BPM) activity for all job sizes, conducted by the Philippine Statistics Authority and involving a total of 1,461 BPM organizations, the industry’s one. A total of 525,867 jobs in the same year.
Occupations like customer service employed the most people, leading the list with 354,000 jobs. In second and third place come sales and marketing and computer programming with 72,000 and 35,000 jobs each.
According to this study, the average annual compensation for workers in the industry is $7,605. Software publishers earned an average annual compensation of $22,788, followed by funders. and accounting activities of $15,724 and administrative support of $12,592. Document processing professionals have the lowest annual salary in the industry, earning an average of $4,033 annually.
It is important to note that the survey data is very outdated and the industry has taken great strides to diversify the services offered in the country following the widespread adoption of artificial intelligence. For the latest information, you can refer to the data provided by JobStreet, one of the leading online job portals in the country. The company’s 2017 salary report reported that the BPO industry offered the most jobs last year, with more than 71,000 jobs.
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In the Philippines (and other countries too), the basic salary varies for different jobs. For non-agricultural members or those living or working in the National Capital Region (or Makati), the October 2017 basic wage is $10 per hour. day. The minimum wage is $9 per day for NCR agricultural workers, retail/service businesses with 15 or fewer employees, and manufacturing businesses with fewer than 10 employees.
The BPO industry has grown over the past few years. The industry is known for pampering its employees with higher wages than usual, packed with many benefits such as health cards, holiday and sick leave, bonuses and much more. According to PayScale, customer service representatives, or CSRs, make about $3,000,000,000 a year.
Operations Managers working in the BPO industry earn between $7,000,000-$27,000 per year. The range for data analysts is approximately $2,000,000, $500 per year. It is always a win-win for people in the BPO industry. Foreign companies can save up to 70% on labor costs if they choose to outsource to the Philippines.
Wages in the Philippines are much lower than in the US, UK and Australia, so foreign companies hire more Filipinos. On the other hand, this situation is also a great opportunity for Filipino workers because it means that there will be more jobs and the wages will be higher compared to other jobs.
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According to Payscale, an entry-level technical support specialist based in the Philippines can earn $4,487 per year. Technical support representatives can earn an average of $4,142 per year. An entry-level customer service representative earns $4,098 per year. Information technology professionals earn an average of $4,534.
JobStreet recruits positions at junior management level that require less than 5 years of work experience. The company’s salary report showed that in 2017, the highest-paid junior managers in the country worked in IT-related industries, with an average monthly salary of $703. Customer service, on the other hand, ranked 9th.
On the list of the highest paying industries at this job level and earns an average of $470 per month.
It’s worth noting that the IT-BPM industry is also aggressively hiring for other specialties, such as healthcare and finance. Legal services 2
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Supervisor level positions typically require 5-10 years of experience. According to JobStreet, experience within the same job field has increased over the past year. The list of highest paid workers is topped by IT professionals at $305 per month. Law and legal assistance 3
Technical support representatives and technical support specialists, at this stage of their careers, earn an average of $5,414 and $5,730 per year, respectively. Customer service representatives earn $5,340 and information technology specialists $6,727 per year.
Last, but certainly not least, were those in a leadership position that required more than 10 years of experience. Those in business strategy were the highest paid in this category, with an average monthly income of $2,392, followed by IT-related occupations at $1,730. There are 5 customer service manager positions.
Salary data for annual salaries for professionals at this career level are as follows: Technical Support Representatives at $6,096, Technical Support Specialists at $5,839, Customer Service Representatives at $5,842, and IT Specialists at $12,685.
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The Philippines is also a top destination for companies hiring freelancers. Consultants and freelance professionals usually charge per hour, but they also hire clients or employers using online platforms that charge based on project completion milestones.
Some projects may be billed as a flat fee, while others, such as data encoding and translation work, may be billed by the word count. Tasks such as mobile app development, content marketing and media editing are often outsourced to freelancers.
Common freelance jobs in the country include virtual assistance, search engine optimization (SEO) and creative work.
On average, virtual assistants in the country earn a starting salary of $4,330 and a mid-level salary of $6,672 per year. This job typically involves administrative tasks such as email filtering, blog management, transcription, data entry, and hotel and flight reservations.
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SEO experts are interested in keyword research, website optimization, link building and market research. They typically earn $4,655 at the beginning of their career and $5,581 with years of experience.
Content writers develop media and have an average annual salary starting at $4,166, which can average up to $7,837.
Graphic artists create visual concepts, develop production design and overall layout. They earn an average annual salary of $3,448, reaching $3,955 and $5,489 with sufficient experience.
In general, IT-related professionals continue to command the best salaries for both entry and supervisory levels, and BPO jobs continue to flourish at all levels across the country. There are especially many positions for customer service and technical recruitment, but there are also many jobs in other specializations related to BPO, which shows the diversity of jobs in the industry.
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These numbers may not seem like much from the western side, but it allows workers to fully support themselves
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