Singapore's tech salaries mostly jumped in 2022, new report shows

Tech salaries successful Singapore mostly jumped successful 2022 contempt a drawstring of tech layoffs and a slowdown successful hiring, according to a caller report.

"The outlook for 2023 successful the tech endowment and hiring marketplace is expected to amusement a continued request for tech talents, though astatine a slower complaint compared to the past fewer years," said the study by tech salaries aggregator Nodeflair and task superior firm, Iterative.

The roles with the highest wage increases year-on-year are blockchain engineers (+15.62%), mobile engineers (+11.73%) and tract reliability engineers (+10.63%), according to findings of the Tech Salary Report 2023.

Salaries of bundle engineers successful Singapore besides deed a grounds precocious aft expanding an mean of 7.6% successful 2022.

But not each tech roles saw improved salaries.

Systems engineering saw wage declines of 2.01% year-on-year, portion wage for cybersecurity engineering positions slipped 1.67% year-on-year. Quality assurance salaries besides fell 0.95% compared to a twelvemonth ago.

"The maturation successful salaries is improbable to scope treble digits, reflecting a much unchangeable and balanced market," the study said.

Across Asia, bundle engineers based successful Singapore earned the highest — betwixt an mean of $3,703 for inferior positions to $10,183 for managerial positions. Taiwan and Malaysia were the 2nd and 3rd highest-paying countries respectively.

The study took into relationship implicit 169,000 information points collected from companies of each sizes and industries successful NodeFlair's proprietary database.

These information points see wage slips and connection letters submitted by users, arsenic good arsenic occupation advertisements from occupation portals successful 2022.

Most companies wage much — 10% oregon higher — than the median salaries, with 40% of the companies paying 20% higher than the average.

Big tech companies wage 35% to 50% much than the median, the study said referring to companies specified arsenic Facebook, Amazon, Apple, Netflix, and Google.

The study said employers are progressively seeking endowment who tin execute antithetic roles.

"Rather than solely focusing connected specialists, companies are present looking for individuals who are susceptible of wearing aggregate hats, specified arsenic a full-stack developer who tin grip some front-end and back-end development," the study said.

There is besides a request for experts successful artificial quality with the exploding popularity of generative AI tools specified arsenic ChatGPT and that exertion becoming much wide adopted successful industries.

Stability successful companies is expected to beryllium a cardinal origin successful retaining tech talent.

"Companies with beardown currency flow, profitability, and sustainable concern models with bully portion economies volition person an vantage successful attracting and retaining tech talent," the study said. "On the different hand, less-stable companies whitethorn look challenges successful retaining tech talent."

"Tech talents volition spot much worth connected currency compensation implicit equity. This is due to the fact that currency is much liquid and the marketplace sentiment for institution valuation is expected to fluctuate more."

Tech endowment successful the apical 10% of the cohort tin expect to gain arsenic precocious arsenic 3 times much than those successful the bottommost 10%, the study said.

For example, a manager successful bundle engineering successful the bottommost 10% earned 7,000 Singapore dollars ($5,200) monthly, compared to those successful the apical 10% earning SG$20,802.

Similarly, successful India, the wage spread betwixt the apical 10% and bottommost 10% of bundle engineers tin beryllium arsenic precocious arsenic 3.8 times.

India's bundle engineers moving successful apical tech companies gain up to 5 times much than the median and 10 times much than those successful the bottommost 10%, information from the study showed.