Singapore Tech Salaries May Soar Up to 30% in Two Years: Straits Times | Tech News

Singapore Tech Salaries May Soar Up to 30% in Two Years: Straits Times

Technology-sector salaries in Singapore are set to soar in the next couple of years amid a hiring boom particularly in finance, according to the Straits Times.

By:BLOOMBERG
| Updated on: Aug 22 2022, 12:38 IST
Singapore Tech companies to soar in the next couple of years. 
Singapore Tech companies to soar in the next couple of years.  (Pixabay)

Technology-sector salaries in Singapore are set to soar in the next couple of years amid a hiring boom particularly in finance, according to the Straits Times.

Recruitment agencies see pay rises of 15% to 30% in the next one to two years, up from about 10% to 15%, the ST reported on Tuesday. That's expected amid a hiring boom as companies work on their digital transformation, Randstad's Clarence Quek told the ST. Startups and Chinese tech firms expanding in Singapore are also competing for tech talent, the paper said.

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Quek sees salaries rising 25% to 30% amid demand for data analysts, data engineers, back-end developers and user interface designers, he told the ST.

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In addition, every technology candidate in Singapore and other major economies is getting two or three job offers, Managing Director of Michael Page Singapore Nilay Khandelwal told the ST -- though he also said that the macroeconomic situation is getting trickier and employers are more cautious than they were a couple of months ago. 

Last week, Monetary Authority of Singapore Managing Director Ravi Menon said there may be more than 9,400 new hiring opportunities for permanent roles in the financial sector this year, with more than 3,000 in the area of technology.

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First Published Date: 01 Jun, 14:38 IST
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