SINGAPORE – Competitors for tech expertise in Singapore will proceed to warmth up this yr, with corporations elevating wage provides as a bargaining chip.
Software program engineers loved the best raises amongst varied technical specialisations surveyed in a brand new report by tech expertise platform NodeFlair and enterprise capital agency Quest Ventures, with a mean enhance of twenty-two per cent year-on-year in 2021.
Extra senior software program engineers who maintain lead roles noticed an excellent sharper increase, with increments of as much as 32 per cent, stated NodeFlair’s Tech Expertise Compensation report.
The report analysed greater than 30,000 information factors from NodeFlair’s database, together with user-submitted salaries backed by paperwork corresponding to pay slips and provide letters, in addition to marketed salaries on job portals.
Salaries can differ extensively even on the similar degree of seniority.
The report stated the median month-to-month revenue of junior software program engineers is about $4,750, whereas these on the ninetieth percentile could make about $7,500 a month.
The median for lead software program engineers is about $9,000. This goes as much as virtually $16,000 on the ninetieth percentile.
Ms Jaya Dass, managing director for Singapore and Malaysia at recruitment agency Randstad, stated the current enhance in salaries is among the many highest tech professionals have ever seen.
Employees within the sector are additionally being supplied enticing increments and sign-on bonuses to modify jobs.
Native tech expertise in Singapore could also be supplied increments of round 20 per cent when altering employers, and people with specialised expertise in high-growth sectors, together with e-commerce and monetary expertise, can count on increments of as much as 30 per cent, Ms Dass stated.
“The sorts of provides tech expertise are seeing now are positively at an all-time excessive as a result of world expertise scarcity throughout sectors corresponding to expertise, manufacturing and logistics,” she added.
“It’s probably that salaries will proceed to extend over the subsequent few years as firms compete in opposition to one another for tech expertise with area of interest and specialised expertise in rising applied sciences.”
Ms Jolin Nguyen, managing director at HR consultancy AYP Group, agreed that tech salaries are at an all-time excessive in Singapore and its neighbouring nations.
“With the enterprise capital funding growth, there are lots of world tech firms in Singapore however nonetheless a restricted expertise pool within the tech sector,” she stated.
Overseas tech firms with deep pockets and bold plans for enlargement in Singapore and the area are a significant purpose for the extraordinary expertise hunt right here.
