Let’s talk compensation! Despite layoffs worldwide, it's not all bad news. Tech talent in the region remains in high demand.

So, let’s dive into what tech talent compensation looks like in SEA! 

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🧑‍💻 In need of tech talent

Salaries in Southeast Asia are expected to increase slightly in 2023 as compared to 2022.

• The highest forecasted median salary increase is in Vietnam at 7.9%
• This is followed by Indonesia at 6.8% and the Philippines at 6%

In 2023, tech talent will remain in high demand. There seems to be a talent crunch despite layoffs. 

• Engineers and data scientists remain in high demand 
• Tech role salary is 38% higher than non-tech roles

However, revenue-generating roles like sales and business development are more important than ever in the current climate. 

SEA Turtles. There is a growing number of tech talent trained in the US returning to SEA. We saw this in finance, but it’s happening in tech too! 

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💸 Cash over equity

Cash is still the most common way to pay employees. Even though 86% of startups offer ESOP, this is only offered to ⅓ of the talent. 

Since exits in the region remain nascent, ESOP tends to be less attractive for junior and mid-level employees. 

• For those that do offer ESOP, a four-year vesting period with a one-year cliff is the average.

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💹 CEO salary

The median CEO salary grew by 2.4x. 

• Singapore-based CEOs and CTOs have the highest base salaries 

Salary ranges also have to do with funding amount!

•  At the $0-5M funding range, the median salary CEOs range from $1500-$10800 per month
• For the $11-50M range, the average is $5000-18100 per month

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🇸🇬 Singapore as a hub

Singapore has attracted global companies like Meta and Google but they haven’t been immune to an industry slowdown. But Sea and ByteDance have become the most searched-for employers in Singapore’s tech sector.

• Lead software engineers in Singapore have a median monthly salary of $6666.
• The average continues to rise as the cost of living soars.

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💻 Still hybrid

After the pandemic, hybrid work has become the status quo. 

• 45% of startups offer hybrid work
• 12% are offering remote work options! 

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