Surge in salaries for software engineers hits a bump as caution reigns

BASE salaries for software engineers in Singapore registered a smaller increase in 2022 compared to the year before, following tighter economic conditions that forced tech companies to scale back on hiring.

Salaries rose by an average of 7.61 per cent in 2022, according to a report from tech recruitment startup Nodeflair and South-east Asian accelerator Iterative. That is lower than the increase of 22 per cent in 2021, a bumper year for tech hiring.

Jobs in the tech sector are among the fastest growing in Singapore, in terms of salaries and headcount. The city-state is the Asia hub for several global companies, including ByteDance and Google.