According to the 2024 Tech Salary Report by NodeFlair, tech salaries in Asia have decreased in 2024 compared to the previous two years where they experienced significant growth.
Despite the decrease, salaries are still higher than they were two years ago, indicating a move towards a more balanced compensation structure rather than a cause for concern.
Software engineering jobs have seen a decline in earnings, with junior professionals now earning a median base salary of SGD5,000 (US$3,705). Mid-level and senior engineers earn more, with medians of SGD7,000 and SGD7,500 respectively. Engineering leads and managers have median base salaries of SGD9,000 and SGD11,000 respectively.
Blockchain engineers’ salaries have dropped by 5.4% from the previous year due to industry events impacting the profession. On the other hand, data scientists are experiencing an 11.3% increase in average salaries.
Cybersecurity engineers’ salaries have increased by 8.24% as organizations prioritize cybersecurity measures.
The report is based on over 422,000 salary data points across various roles and countries.
NodeFlair CEO Ethan Ang stated, “As we step into 2024, the tech industry faces talent challenges amidst the rise of generative AI and financial prudence.”
Job seekers in Asia are increasingly prioritizing stability in their decision-making process, with many top companies paying above market median salaries.
Looking ahead to 2024, the tech hiring landscape is expected to continue evolving, with companies focusing on cross-border and remote hiring. AI tools will play a significant role in streamlining recruitment workflows and improving candidate evaluation.
NodeFlair, founded in 2018, has transitioned from a tech-enabled recruitment platform to a full-stack tech career platform.
(SGD1=US$0.74)
X marks Echelon. Join us at Singapore EXPO on May 15-16 for the 10th edition of Asia’s leading tech and startup conference. Get your tickets here.
Be an Echelon X sponsor or exhibitor. Send an enquiry here.
The post Blockchain engineering salary in Asia sees 5.41% drop: report appeared first on e27.
