Wages in Singapore’s tech sector are set to soar in the coming years amid a hiring boom, especially in the financial sector, according to Singaporean media reports. According to The Straits Times, recruitment agencies expect pay rises of 15% to 30% over the next one to two years, from about 10% to 15%. The anticipation comes amid a hiring spree as companies work towards digital transformation, the report said. Startups and Chinese tech companies expanding in Singapore are also competing for tech talent, the paper noted. Data engineers, interface designers and developers in high demand…
Wages in Singapore’s tech sector are set to soar in the coming years amid a hiring boom, especially in the financial sector, according to Singaporean media reports.
Recruitment agencies expect pay increases of 15% to 30% over the next one to two years, from about 10% to 15%, This The Straits Times report.
The anticipation comes amid a hiring spree as companies work towards digital transformation, the report said. Startups and Chinese tech companies expanding in Singapore are also competing for tech talent, the paper noted.
Data engineers, interface designers and developers in high demand
Salaries for data analysts, data engineers, back-end developers and user interface designers are expected to rise by 25% to 30% due to strong demand in these industries.
In addition, the report added that each technology candidate in Singapore and other major economies has received two to three job offers.
Last week, Monetary Authority of Singapore managing director Ravi Menon said there could be more than 9,400 new long-term job openings in the financial sector this year, with more than 3,000 in the technology sector.
