The overall salary of software engineers in Singapore increased by 7.6% last year, but they still couldn't beat the rent.
Beijing time on March 7 morning news, It is reported that the global technology industry in the past few months set off a wave of layoffs, Practitioners have a hard time. However, a recent report showed that salaries for software engineers in the Southeast Asian city-state of Singapore rose an average of 7.6 per cent last year. However, this increase has not kept pace with the increase in rents in the country.
On Tuesday, Singapore staffing firm NodeFlair and incubator startup Iterative released a report on tech wages. According to the report, salaries for software engineers in Singapore rose 22 per cent month-on-month in 2021, compared with a significantly narrower increase in 2022. However, Singapore still ranks among the top software engineers in South and Southeast Asia. Developers in Singapore can earn thousands of dollars a month more than their neighbors.
In recent years, Singapore has become the Asia-Pacific headquarters of some world-renowned technology companies, such as Meta and Google in the United States. At the same time, the country is attracting a growing number of high-growth tech start-ups.
Singapore, a wealthy island nation, has not been spared from the global tech slowdown, with many tech companies, including Sea, a local internet giant, cutting thousands of jobs to control operating costs.
There are many factors contributing to the wage increase of Singapore's technology workers, including the rising cost of living. Rents, for example, rose sharply in Singapore last year, and the industry predicts that rents in Singapore will continue to rise by 10 to 15 per cent in 2023 due to tight housing supply.
In addition, the Singapore government has begun to tighten work visas for overseas personnel, making it increasingly difficult to recruit middle and low-level employees at some technology companies.
ByteDance, Singapore's government technology agency and Shopee, the e-commerce arm of Internet giant Sea, are among the companies most sought after by practitioners in Singapore's tech industry, according to the report, which outstrips overseas companies such as Apple, Visa and Meta.
Last year, the median monthly salary for a "chief software engineer" position in Singapore was as high as $6666, compared with $1309 in Indonesia and $1357 in India, according to the report.
It is reported that in terms of statistics, the authors of the above report mainly confirmed the salary level promised by the salary bar data and formal employment letter.
