The global technology industry has set off a wave of layoffs in the past few months,and practitioners have a hard time.However,a recent report shows that the salaries of software engineers in Singapore,a Southeast Asian city country,increased by 7.6%on average last year.However,this increase could not catch up with the increase in rent in the country.
On Tuesday local time,Singapore’s manpower recruitment company NodeFlair and incubator start-up Iterative released a report on the wage level of technology industry.The report shows that in 2021,the salary of software engineers in Singapore increased by 22%month-on-month,while the increase in 2022 was significantly narrowed.However,Singapore’s software engineers are still among the best paid in South and Southeast Asian countries.Compared with neighboring countries,Singapore developers can earn thousands of dollars more each month.
In recent years,Singapore has become the Asia-Pacific headquarters of some world-renowned technology companies,such as Meta and Google in the United States.At the same time,the country has attracted more and more new technology companies that can grow at a high speed.
In the wave of global slowdown in the technology industry,Singapore,a wealthy island country,has not been spared.Many technology companies,including the local Internet giant”Sea”,have cut thousands of jobs to control operating costs.
There are many factors that have led to the rise in wages of science and technology practitioners in Singapore,including the rise in the cost of living.Take the rent as an example.Last year,Singapore’s rent rose rapidly.Due to the tight supply of housing,the industry predicted that Singapore’s rent would continue to rise by 10%to 15%in 2023.
In addition,the Singapore government has begun to tighten the work visa for overseas personnel,so in some technology companies,it is increasingly difficult to recruit middle and low level employees.
The above report shows that in Singapore’s technology industry,the companies that practitioners most aspire to include ByteDance,the Singapore Government Technology Bureau,and Shopee,an e-commerce subsidiary of the local Internet giant Sea,are more attractive than overseas companies such as Apple,Visa and Meta.