Singapore tech workers paid 5 times more than those in Indonesia, India: report

The city state’s tech salaries stand out among countries in South and Southeast Asia, according to a report published on Tuesday

Software engineers in Singapore command thousands of dollars more each month. Yet the wealthy island nation hasn’t been immune to an industry slowdown

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Pedestrians cross the road in Singapore’s central business district. Software engineers’ salaries failed to keep pace with rent increases in the city state last year, but still rose by 7.6 per cent. Photo: Bloomberg

Published: 1:03pm, 7 Mar 2023

Salaries for software engineers in Singapore rose by an average of 7.6 per cent last year, with pay increases falling short of rent hikes after technology companies worldwide slashed jobs.

Even as the increase slowed from a 22 per cent surge a year earlier, the city state’s tech salaries stand out among countries in South and Southeast Asia, according to a report published on Tuesday by hiring service NodeFlair and start-up accelerator Iterative.

Software engineers in Singapore command thousands of dollars more each month than their counterparts in nearby countries.

DLF Cyber City, a major tech hub in Gurugram, India. Software engineers in India earn nearly five times less per month than their peers in Singapore on average, the report found. Photo: Xinhua

Singapore has attracted several fast-growing start-ups while also hosting the Asia-Pacific hubs of global companies like Meta Platforms Inc. and Alphabet Inc.’s Google.

Yet the wealthy island nation hasn’t been immune to the tech industry’s slowdown, with companies including Sea Ltd. slashing thousands of positions to curb costs.

Factors driving up Singapore’s salaries include the rising cost of living, with rents soaring last year and forecast to jump a further 10-15 per cent this year on limited supply.

Tightening conditions for worker visas have also made it harder to bring in less senior workers.