Singapore’s tech salaries mostly jumped in 2022, new report shows

Mar 7, 2023 · Tech salaries in Singapore mostly jumped in 2022 despite a string of tech layoffs and a slowdown in hiring, according to a new report. “The outlook for 2023 in the tech talent and hiring market is expected to show a continued demand for tech talents, although at a slower …

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FAQs about Singapore’s tech salaries mostly jumped in 2022, new report shows Coupon?

Why is Singapore attracting a lot of tech talent?

The massive demand for tech talent is fueled by the wave of venture capital into tech startups in the region and global tech companies setting up in Singapore, layered on top of a limited tech talent supply. In 2018, Quest Ventures invested in NodeFlair’s vision to build a solution for tech talent and businesses. ...

What will the tech talent market look like in 2023?

“The outlook for 2023 in the tech talent and hiring market is expected to show a continued demand for tech talents, although at a slower rate compared to the past few years,” said the report by tech salaries aggregator Nodeflair and venture capital firm, Iterative. ...

Why is tech hiring a slowdown in 2023?

This comes amid tech layoffs and a hiring slowdown due to economic uncertainty. “The outlook for 2023 in the tech talent and hiring market is expected to show a continued demand for tech talents, although at a slower rate compared to the past few years,” said the Tech Salary Report 2023. ...

Is the rise of salary for tech talent slowing down?

The rise of salary for tech talents is not slowing anytime soon. A better salary package is the top reason (65%) talents are looking for new opportunities. That ranks higher than other reasons like their desire to work on new technologies, work-life balance and growth opportunities. ...

Are tech talents too expensive?

As the war for tech talents grows fiercer, companies will see a drop in average tenure and a higher turnover rate. At some tipping point, the tangible and intangible cost of attracting, recruiting and onboarding talents will rise to be too expensive for companies if they do not retain these great talents well. ...

Why is Singapore a good place to start a startup?

There could be 2 reasons why the hiring demand for Singapore’s are mostly for experienced engineers. Firstly, Singapore has the highest venture funding per capita in the world at $1,398, almost twice that of the 5th country on the list.1 As such, startups have the capital to afford more senior hires to accelerate their growth. ...