March 8, 2023
Despite recent tech layoffs and slowdowns in Singapore, the salaries of talents in the tech industry have been increasing steadily over the years.
In fact, the salaries of Software Engineers (SWEs) have grown 7.6% in 2022, setting new record highs.
Interested to find out how much tech talents are being paid, what the most popular tech companies are, and the industry trends?
Let’s dive in!
Disclaimer: This salary guide is based on Nodeflair’s Tech Salary Report 2023. Salary data for are derived from NodeFlair’s proprietary database of over 169,000 data points from companies of all sizes and industries. This includes user submissions verified by documents (payslips and offer letters) as well as job advertisements from various aggregated from various job portals for the year 2022. All salaries indicated are in SGD.
Six out of 15 of the most searched tech companies paid 20% more than the market’s median salary.
While there is no clear correlation between how well a company pays and its popularity, it is clear that salary is a key factor in attracting talent.
One interesting fact is that American Tech companies (FAANG-ish) pay very well, at 35% to 50% more than the median.
Tech companies are now clamoring for top tech talent who can handle multiple roles and wear different hats, as opposed to specialists. Moreover, AI experts are now in high demand due to the growing adoption of AI in various industries.
AI Chatbots such as ChatGPT have also highlighted the importance of soft skills and problem-solving abilities. As manual and repetitive tasks become automated, skills such as creativity, critical thinking, emotional intelligence, and communication will become increasingly valuable in the tech industry.
Thus, if you are looking to upgrade yourself, remember to include both hard and soft skills to give you a better shot at landing your next position.