Singapore has attracted several fast-growing startups 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.
Salaries for software engineers in Singapore rose by an average of 7.6% last year, with pay increases falling short of rent hikes after technology companies worldwide slashed jobs.
Even as the increase slowed from a 22% surge a year earlier, the city-state’s tech salaries stand out among countries in South and Southeast Asia, according to a report published Tuesday by hiring service NodeFlair and startup accelerator Iterative. Software engineers in Singapore command thousands of dollars more each month than their counterparts in nearby countries.
