2022

INQUIRER.NET

Competition for tech talent in Singapore will continue to heat up this year, with firms raising salary offers as a bargaining chip.

Software engineers enjoyed the highest raises among various technical specializations surveyed in a new report by tech talent platform NodeFlair and venture capital firm Quest Ventures, with an average increase of 22 percent year-on-year in 2021.

The report analyzed more than 30,000 data points from NodeFlair’s database, including user-submitted salaries backed by documents such as pay slips and offer letters, as well as advertised salaries on job portals.

Salaries can vary widely even at the same level of seniority.

The report said the median monthly income of junior software engineers is about $4,750, while those at the 90th percentile can make about $7,500 a month.

The median for lead software engineers is about $9,000. This goes up to almost $16,000 at the 90th percentile.

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The Straits Times

Competition for tech talent in Singapore will continue to heat up this year, with firms raising salary offers as a bargaining chip.

Software engineers enjoyed the highest raises among various technical specialisations surveyed in a new report by tech talent platform NodeFlair and venture capital firm Quest Ventures, with an average increase of 22 per cent year-on-year in 2021.

The report analysed more than 30,000 data points from NodeFlair’s database, including user-submitted salaries backed by documents such as pay slips and offer letters, as well as advertised salaries on job portals.

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MBA TOP

詹姆斯•谭 (James Tan) 在推出他的第一个技术业务时就喜欢创业，这是一个他在 1990 年代第一次互联网泡沫中创建的股票图像平台。但他遇到了一个障碍——他无法在他的家乡新加坡之外扩展它。快进 30 年，James 是亚洲领先的风险投资公司 Quest Ventures 的创始人和管理合伙人。

在不到 10 年的时间里，Quest 在非洲大陆 150 多个城市建立了 50 多家公司的投资组合。2019 年， Quest 开始筹集两笔 总额高达 1.2 亿美元的新基金。

詹姆斯将参加清华-麻省理工学院全球 MBA 项目归功于 北京清华大学经济管理学院 (Tsinghua SEM) 与麻省理工学院斯隆学院的合作，帮助他发展成功的业务并拓展到利润丰厚的中国市场。

“如果你想像我一样进入一个新市场，那么我不明白为什么 MBA 不是最佳选择，”他说。

给创业者的建议

詹姆斯离开 MBA 时，带着 55tuan 的计划和 Quest Ventures 的基金会，他说，这都得益于他在该计划上建立的网络。

“能够进入一个全新的市场——尤其是像中国这样一个神秘的市场——并利用它的生态系统，如果没有我在清华遇到的人，我是不可能做到的，”他说。

詹姆斯记得清华大学的创业精神。与学生和学术人员的联系现在仍然触动着他，他结交的终生朋友证明对他未来的商业冒险是不可或缺的。

他对企业家的建议？“如果你要开始做某事，那么请——想大一点！” 詹姆斯催促。“敢于将您的小型弹出式商店扩展到 7/11 连锁店。”

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DealStreetAsia

Salaries of technology workers in Singapore rose by 22% in 2021 compared to the previous year on account of the venture capital funding boom, the presence of global tech companies in the city-state, and a limited talent pool.

The talent war has driven up salaries to an all-time high, according to a report published by tech jobs portal NodeFlair and venture capital firm Quest Ventures.

“Salary is identified as the largest push and pull factor, and the reason responsible for failed job placement,” Quest Ventures’ managing partner James Tan said in a statement.

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TechNode Global

The tech talent war continues to intensify in Singapore as companies compete with each other with jaw-dropping salary offers, said a report done by tech talent platform NodeFlair and venture capital firm Quest Ventures.

In the last twelve months, the average salaries for software engineers reached an all-time high after increasing by up to 32 percent, according to the Tech Talent Compensation  report that uncovers the tech talent salary black box and empowers tech talents and employers by analysing more than 30,000 data points from NodeFlair’s proprietary database, and in-depth interviews with founders and engineering leaders.

Quest Ventures Managing Partner James Tan also highlighted that salary is identified as the largest push and pull factor, and the reason responsible for failed job placement.

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Human Resources Online

The median base salary compensation stands at S$4,750 for a junior software engineer; S$6,500 and S$7,500 respectively for mid-level and senior software engineers, and S$9,000 for lead levels.

For example, the report, published today (Monday, 14 February 2022) by NodeFlair and Quest Ventures, noted that the median base salary compensation stands at S$4,750 for a junior software engineer; S$6,500 and S$7,500 respectively for mid-level and senior software engineers, and S$9,000 for lead levels.

Meanwhile, at the 90th percentile, the median base salary can be as much as three times more than those in the 10th percentile, the report found. For instance, junior software engineers at the 90th percentile have gone up to S$7,500; mid-level and senior software engineers can command S$9,500 and S$11,500 respectively, and lead software engineers can command a base salary of S$15,950.

Per the report, this rise in tech salaries is “not slowing down anytime soon”, as more talents place importance on salary packages a top reason when looking for new opportunities.

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BOL News

Region’s internet economy on track to hit $1t as e-commerce, logistics boom. Southeast Asia is embracing its “digital decade” with the region’s internet economy expected to soar on the back of a fast-growing base of digital consumers and merchants.

James Tan, a Singaporean businessman with more than 10 years’ experience in the digital economy, said Southeast Asian countries are at different levels of development in their digital industries.

“In the Philippines, for example, online shopping is no rare thing. But people can do a lot more things on the internet in some other places such as Indonesia’s Jakarta. Digitization of small and medium enterprises in Jakarta has made progress over the recent years,” said Tan, the managing partner and founder of Quest Ventures, a venture capital firm focusing on the digital economy industry across Asia.

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KrASIA

The Alibaba Cloud x KrASIA Global Startup Accelerator brings together new technologists, venture capitalists, and other players across Asia to identify startups that are compatible with Alibaba’s ecosystem. The joint Vietnam-Indonesia Demo Day aims to showcase promising startups engaged in enterprise services, internet-of-things (IoT), and agriculture. Representatives from Quest Ventures, Thinkzone.VN, and Kejora Capital evaluated the submissions and chose ten finalists.

The Alibaba Cloud x KrASIA Global Startup Accelerator is part of Alibaba Cloud’s Project AsiaForward initiative, which aims to catalyse digital transformation in enterprises in Asia, as well as nurture fresh talent. Through this program, startups have the opportunity to join Alibaba’s global ecosystem. They can also connect with top VCs in Southeast Asia and China, and have the opportunity to receive media coverage on KrASIA, 36Kr, and other outlets.

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China Daily

Region’s internet economy on track to hit $1t as e-commerce, logistics boom

Southeast Asia is embracing its “digital decade” with the region’s internet economy expected to soar on the back of a fast-growing base of digital consumers and merchants.

James Tan, a Singaporean businessman with more than 10 years’ experience in the digital economy, said Southeast Asian countries are at different levels of development in their digital industries.

“In the Philippines, for example, online shopping is no rare thing. But people can do a lot more things on the internet in some other places such as Indonesia’s Jakarta. Digitization of small and medium enterprises in Jakarta has made progress over the recent years,” said Tan, the managing partner and founder of Quest Ventures, a venture capital firm focusing on the digital economy industry across Asia.

Digital technology innovations are happening in Singapore and parts of Vietnam, said Tan, adding that many digitalized companies are developing and commercializing their products in Singapore before expanding and landing in other countries across Southeast Asia.

The development of the digital economy in Southeast Asia is uneven, as the different countries have their unique advantages and weaknesses, said Tan.

“The RECP could serve as a boost with China’s involvement. Another thing to bear in mind is that only when countries in Southeast Asia give full play of their unique strengths, digital industry development and regional integration could go further in the future.”

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The Business Times

Online classifieds company Carousell is in talks to acquire Singapore-based property marketplace operator 99 Group ahead of a potential public listing in the US this year, according to people aware of the development.

Tech unicorn Carousell is eyeing a Nasdaq listing through a merger with L Catterton Asia Acquisition, the blank-cheque company backed by US$30 billion buyout firm L Catterton, Bloomberg reported in January.

A deal with 99 Group would give Carousell access to 99.co, a property search portal operating in Singapore and Indonesia.

Both are among the batch of companies minted in the early days of Singapore’s startup scene. Their common shareholders include pioneer venture capitalists Quest Ventures, East Ventures, 500 Southeast Asia, Golden Gate Ventures and Sequoia Capital India.

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