Job Seeker Priorities Shift: Stability Ranks Larger as Tech Expertise Favors Monetary Safety Over Perks
SINGAPORE – Media OutReach Newswire – 5 April 2024 – NodeFlair, the main tech expertise platform in Southeast Asia, unveiled the Asia Tech Wage Report 2024, leveraging insights from over 422,000 wage information factors spanning completely different roles and nations. This complete report not solely illuminates the trade’s response to the burgeoning development of Generative AI but additionally addresses vital hurdles like layoffs and hiring freezes.
Key findings from the report embody:
- Software program Engineer Salaries Dip 0.99%: Whereas latest years noticed substantial progress, tech salaries have declined total on account of Southeast Asia’s tech funding hitting a five-year low in 2023. Nonetheless, salaries nonetheless surpass these from two years prior, signalling a shift in the direction of a extra equitable compensation framework.
- Large Pay Hole: Amongst software program engineers, the wage discrepancy between the tenth and ninetieth percentiles can prolong as much as 3 instances.
- Blockchain to AI: tech’s pivot for innovation: Blockchain engineer salaries fell by 5.41% amidst trade turbulence sparked by FTX’s collapse and Binance’s CZ Zhao’s authorized points. Knowledge scientists, nevertheless, noticed an 11.30% enhance on account of rising curiosity in Generative AI. Cybersecurity Engineers additionally skilled an 8.24% rise in salaries.
- Job seekers more and more prioritise stability and better salaries over perks: 10 of the highest 15 searched corporations now pay 20% above the market median, up from 6 out of 15 final 12 months. Abilities have gotten extra keen to miss imperfect firm cultures if their wage meets expectations. Final 12 months, 13 out of 15 corporations surpassed a median Glassdoor score, however now solely 9 out of 15 preserve this degree.This shift signifies a broader change in profession priorities in the direction of sensible monetary issues.
- Regional Expertise Distribution: Mid-senior expertise percentages are increased in Singapore (62.7%) and India (79.3%) in comparison with Vietnam (36.9%) and Indonesia (49.6%).
“In 2024, the tech trade grapples with expertise challenges amidst the rise of Generative AI and monetary prudence.” says Ethan Ang, CEO of NodeFlair. “Our newest wage report promotes transparency and advantages each job seekers and firms by offering actionable insights into altering compensation tendencies.”
A duplicate of the report will be downloaded right here.
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NodeFlair
NodeFlair, the main tech expertise platform in Southeast Asia, affords a complete suite of instruments tailor-made to each stage of an expert’s profession journey. With verified compensation information, people can confidently navigate their job search course of. For extra: go to https://nodeflair.com