Competition for information technology (IT) talent in Singapore will continue to heat up this year, leading to higher salaries for talent led by software engineers, according to the Tech Talent Salary Report 2021/2022 in Singapore released by tech talent platform NodeFlair and Venture Capital Quest Ventures . In 2021, salaries for technicians will increase by an average of 22% year-on-year, while senior software engineers, who are more in leadership roles, will see even bigger increases, up as much as 32%, the report said, adding that the trend “is not going to stop anytime soon. slow.” The report analyzes more…
Competition for information technology (IT) talent in Singapore will continue to heat up this year, resulting in higher pay for talent dominated by software engineers, according to Singapore Tech Talent Salary Report 2021/2022 Published by tech talent platform NodeFlair and venture capital firm Quest Ventures.
In 2021, salaries for technicians will increase by an average of 22% year-on-year, while senior software engineers, who are more in leadership roles, will see even bigger increases, up as much as 32%, the report said, adding that the trend “is not going to stop anytime soon. slow.”
The report analyzed more than 30,000 data points in NodeFlair’s database, including user-submitted salaries backed by documents such as payslips and offers of admission, as well as advertised salaries on job portals.
Average monthly salary for junior software engineers is $3,529
The median base salary is S$4,750 (US$3,529) per month for junior software engineers, S$6,500 for intermediate and S$7,500 for senior software engineers, and S$9,000 for leadership levels.
Among the city-state’s highest-paying tech jobs, including software and solutions engineering, cybersecurity, data engineering and quality assurance, the report said, the median base salary could be three times the minimum wage range established.
For example, junior software engineers in these jobs can be paid up to S$7,500, while mid-level and senior software engineers are paid S$9,500 and S$11,500 respectively. A lead software engineer can receive a pay cheque with a base salary of S$15,950. The salary range for software engineering managers is even as high as S$21,000.
‘Highest ever’ wage growth
HR experts say the recent increase in tech wages in Singapore is one of the highest ever for professionals.
Workers in the industry have also received attractive raises and signing bonuses to change jobs. Local tech talent in Singapore may see gains of around 20% when changing employers, while those with expertise in high-growth areas such as e-commerce and fintech can expect up to 30% gains.
The most popular tech companies or national entities looking for top talent include Singapore’s Government Technology Agency (GovTech), e-commerce platforms Shopee and Lazada, TikTok maker ByteDance, ride-hailing and delivery company Grab, and food delivery group Foodpanda.
Amazon, Google, Apple and Facebook pay the highest salaries
Global tech companies including Google, Facebook/Meta, Amazon/Amazon Web Services, Apple and PayPal, as well as banks and financial institutions such as DBS, Goldman Sachs, JPMorgan and Visa are also eager to recruit in Singapore.
Some of the top salaries offered by Amazon Web Services, Facebook, Apple and Google range from 39% to 56.5% above the market median.
Other popular firms paying more than 25% of the median include ByteDance, Goldman Sachs and JPMorgan, as well as foodpanda.
