Navigate job market caution; secure higher salary bumps
Add BT as a preferred source
Switching jobs has long been seen as the fastest route to a pay rise. But in today’s uncertain market, that strategy is no longer as straightforward as it sounds. In this episode of Money Hacks, host Howie Lim sits down with Amarjit Kaur of Withers KhattarWong and Anurag Garg of Michael Page Singapore to unpack what’s really at stake before you hand in that resignation letter.
The conversation cuts through the optimism around job mobility. Hiring is still happening, but far more selectively, and timelines are stretching. At the same time, employees are increasingly “job hugging”, holding on to roles despite dissatisfaction, driven by economic headwinds and layoff anxiety. Yet for those willing to move, the promise of up to a 15 per cent salary bump remains a powerful draw.
Why listen
- The market is moving but cautiously Hiring continues in areas like AI and compliance, but processes are slower and competition is tighter. Expect longer timelines and fewer guarantees.
- Pay bumps are real but come with trade-offs Switching jobs can deliver significantly higher salary increases than staying put, but frequent moves may hurt long-term progression into senior roles.
- Contracts can cost you more than you think From clawbacks to forfeited bonuses, poorly understood clauses can hit your wallet hard. The fine print matters far more than most realise.
- Termination terms are your “prenup for work” When things go wrong, these clauses determine your rights, your pay, and your exit. Ignore them at your peril.
Ultimately, the message is clear. Switching jobs is not just a financial decision. It is a legal, strategic and reputational one. Read the contract, know your leverage, and negotiate before you sign. Because once you are in, your options narrow fast. Listen now.
Money Hacks is the flagship personal finance podcast from The Business Times. Catch past episodes at bt.sg/podcasts. Have a burning question or episode idea? Email the team at btpodcasts@sph.com.sg.
---
Navigate Asia in
a new global order
Get the insights delivered to your inbox.
Written and hosted by: Howie Lim (howielim@sph.com.sg)
With Amarjit Kaur, partner, Withers Khattarwong; and Anurag Garg, country lead, Michael Page Singapore
Edited by: Howie Lim & Claressa Monteiro
Produced by: Howie Lim & Chai Pei Chieh
Video production and editing: Studio +65
A podcast by BT Podcasts, The Business Times, SPH Media
---
Follow BT Money Hacks podcasts every Monday:
Channel: bt.sg/btmoneyhacks
Amazon: bt.sg/mham
Apple Podcasts: bt.sg/oeXe
Spotify: bt.sg/oeGN
YouTube Music: bt.sg/mhyt
Website: bt.sg/moneyhacks
Do note: This podcast is meant to provide general information only. SPH Media accepts no liability for loss arising from any reliance on the podcast or use of third party’s products and services. Please consult professional advisors for independent advice.
---
Discover more BT podcast series:
BT Correspondents: bt.sg/btcobt
BT Market Focus at: bt.sg/btmktfocus
BT Podcasts at: bt.sg/pcOM
BT Lens On: bt.sg/btlenson
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
