Amidst Tech Crunch, Engineers & Product Managers Receive Higher Pay in S’pore as Compared to Other SE Asian Countries

By
Avery
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This is another one of those articles talking about the employability of tech engineers. You know, if your aunts and uncles wrote articles instead of giving speeches at your family dinner.

Depending on whether you are a computer science or a literature major, you should either read on with fervour or leave this page immediately.

Amidst Tech Crunch, Engineers & Product Managers Receive Higher Pay in S’pore as Compared to Other SE Asian Countries

According to TODAYonline, a persistent, unfulfilled need for talent in the Singaporean technology sector has resulted in significantly higher remuneration for technology workers than the rest of Southeast Asia.

These findings came from The Southeast Asia Tech Talent Compensation report, compiled by venture capital firm Monk’s Hill Ventures and recruitment firm Glints.

In the report, the firms found that a senior software engineer based in Singapore can expect a salary somewhere between S$5,400 to S$14,800. In Vietnam, however, the figures are S$2,700 to S$5,400.

Overseas technological companies seeking to venture into the region, such as TikTok, Zoom, and Tencent, are particularly likely to offer above-average wages for their workers. The most talented capable employees might apparently even receive a blank cheque.

In the midst of the hiring freeze is a talent crunch for tech workers in Singapore. It could be particularly severe given its small population of 5.7 million, which has not yet been able to adapt to the need for skills and experience of the booming industry.

Even though anyone who can seem to be studying computer science nowadays.

This is exacerbated by the recent expansion of multiple high-profile tech firms into Singapore, significantly boosting demand for competent tech workers without addressing supply.

500 new vacancies for tech-related jobs are posted every week

As TODAYonline reports, up to 500 new vacancies for tech-related jobs are posted every week, and cabinet minister Vivian Balakrishnan estimates that up to 60,000 new professionals are needed by the information and communications industry.

To meet the demand, the government is aiming to re-train thousands of people to equip them with tech skills, while tech-related courses at institutes of higher education and polytechnics have seen an increase in enrolment by more than 17%.

The government has also introduced a new work visa for technology executives. Called Tech.Pass, the visa is dubbed by the EDB as one that “allows established tech entrepreneurs, leaders or technical experts… to come to Singapore to perform frontier and disruptive innovations.”

The quota is strictly controlled, however, and further loosening restrictions on bringing in foreign employees remains politically imprudent.

Out of the different jobs, engineers are the most highly demanded, with American and Chinese firms willing to shell out up to US$6,000 (S$8,100) to compete for new graduates.

Product managers are not far behind, with a senior manager earning up to US$6,900 (S$9,300) per month. All these are significantly higher than in Indonesia or Vietnam, the region’s other prominent emerging technology markets.

Jobs related to data science can also be found aplenty, with Singapore continuing to attract foreign investments thanks to its high-tech infrastructure. The report raises the example of Gojek, the Indonesian ride-sharing company, which located its data science team in Singapore.

To compete with one another for talent, firms are trying their hardest to advertise their attractiveness, be it in their company culture, innovativeness, or an efficient governance structure.

And, apparently, a really thick wallet.

Featured Image: Kzenon/ Shutterstock.com

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Avery
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