Despite layoffs in the tech sector and employment delays, salaries in most of Singapore’s tech sectors surged in 2022. A report from Nodeflair, a payroll company for tech workers, and a joint venture Iterative, highlighted the continued demand for tech talent in the market. Although the rate of demand has slowed compared to previous years.
The 2023 Technology Employee Salary Report revealed that Blockchain Engineers saw the highest year-on-year salary increase, with a surge of 15.62%, followed by Mobile Engineers with an 11.73% increase, and Site Reliability Engineers (SRE) with a 10.63% increase. Software Engineer salaries also hit record highs in Singapore, with an average salary increase of 7.6% in 2022.
However, not all tech positions experienced a salary increase. Systems Engineers saw a decrease of 2.01% in their salaries year-on-year. Cybersecurity Engineering salaries fell by 1.67%, while Quality Assurance (QA) salaries dropped by 0.95% year-over-year.
In the Asian region, Software Engineers in Singapore earn the highest salaries. The average salary was $3,703 at the operational level and $10,183 at the management level. Software Engineers in Taiwan and Malaysia ranked second and third highest, respectively.
The salary trends in Singapore’s tech sectors are positive indications of the country’s commitment to fostering a robust and innovative tech ecosystem. The government’s investments in technology and the digital economy are yielding results, as evidenced by the continued demand for tech talent in the market. As Singapore looks towards the future, it remains poised to maintain its status as a regional leader in tech and innovation.