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Technology Market Insights Q3 2017

As we concluded the first half of 2017, there was still a strong demand for Technology professionals across most industries in Singapore. 

Throughout the first half of 2017 up until the second quarter, we observed a hiring trend focused on local Technology talent across most industries in Singapore.
 
We have seen several multinational (MNC) commerce organisations increasing or maintaining investments in various IoT initiatives. We saw an increase in demand for professionals skilled in embedded software solutions as well as front-end development.

Cloud computing, Big Data and open source professionals were in demand

Throughout Q2, we saw the Banking & Financial Services space having a continued, healthy hiring volume for developers, application support specialists and cybersecurity professionals. Banks and financial services organisations also remained interested in profiles with exposure to cloud computing, Big Data and open source technologies. Exceptional talent within these areas are commanding higher than average salary increments.

The spotlight on Data Science hiring

Recruitment in the analytics space has also surged throughout the first half of the year up until Q2. While we observed the banking and insurance industries actively hiring Data Science and Data Analytics Specialists, most industries had a significant demand for these specialists.  Commercially- and technically-savvy professionals were able to command a higher than average salary increase.

Risk and compliance demanded the right expertise

In the past few months, we saw banks increasing their activity in temporary and contract hiring to support project initiatives in meeting regulatory and consolidation demands. As new regulations were being introduced to mitigate banking risk and security, banks emphasised on projects that aligned with compliance requirements.

Amidst a changing regulatory landscape, we saw banks having an increased demand for Business Analysts and Project Management professionals experienced in regulatory reporting (for example, Basel III reporting), AML, and financial crime. There was also an increasing need for SQL and Oracle developers who could enhance and build reporting applications. 

The hunt for information security and cybersecurity talent

We observed, in Q2, that financial firms in Singapore continued to have an unwavering demand for professionals in these two highly-specialised and talent-short areas. Firms have been facing fierce competition for these professionals, including Information Security Analysts, IT Security Operations Specialists and Cybersecurity Analysts. Cybersecurity expertise in threat monitoring, assessment and response have been very much in demand.

Bright outlook for Tech talent in Q3 2017

Exciting times ahead will go on for Technology talent in Singapore. Experts in cloud, Big Data and open source technologies will attract employers and can expect competitive remuneration. Embedded software solutions will be an up-and-coming area with an accompanying demand for talent. Companies will continue to seek exceptional developers across a myriad of programming languages. 

In supporting regulatory needs, we foresee financial firms to continue seeking Business Analysts, Project Managers and SQL/Oracle developers. These firms will also actively seek experienced, market-scarce cybersecurity professionals.

Technology
Salary Report for Q3 2017*

Commerce & Industry

   
Job title Years of experience Annual salary range (S$)
IT Management 
Chief Information Officer  15+ 300K–420K
IT Director  10+ 150K–300K 
Senior IT Manager 8+ 110K–200K
IT Manager  6+ 95K–140K

Project Management 
Program Manager  15+ 150K–300K
Project Manager 10–15 100K–190K
Business Analyst  6–15 70K–140K

Application Development
Solutions Architect  8–12 90K–160K
Development Manager  8–12 90K–140K
Developer  5–10 60K–110K
RDBMS Developer / DBA  5–8 50K–100K

Infrastructure
Infrastructure Director  10+ 160K–220K
Infrastructure Manager  8+ 100K–160K
Solutions Director / Head of Presales 8+ 150K–250K
Solutions Architect / Presales  5+ 80K–180K
Systems Administrator  5+ 50K–80K
Network Administrator  5+ 50K–80K
Network or Systems Engineer / 3rd line Support  5+ 60K–100K
Capacity Planning Engineer  5+ 60K–80K
Capacity Planning Manager  6–8 70K–120K
IT Security Director  8+ 120K–200K
IT Security Manager  6–10 80K–120K
IT Security Analyst  5+ 60K–100K
Helpdesk / Desktop Support  3–7 40K–70K
Helpdesk Team Lead / Manager  5–8 80K–120K
     

Banking & Financial Services

   
Job title Years of experience Annual salary range (S$)
IT Management 
Chief Information Officer (D to MD) 15+ 300K–500K
IT Director  10+ 150K–320K
Senior IT Manager 8+ 110K–210K
IT Manager  6+ 100K–150K

Project Management 
Program Manager (VP to D)  15+ 150K–350K
Project Manager (AVP to VP)  10–15 110K–210K
Business Analyst (AVP to VP)  6–15 80K–170K

Application Development
Development Director (D to MD)  12–18 250K–400K
Solutions Architect (VP to SVP)  12–18 150K–240K
Development Manager (VP to SVP)  10–15 150K–240K
Developer  6–15 80K–140K
RDBMS Developer/DBA  6–15 70K–150K

Infrastructure
Infrastructure Director (D to MD)  15+ 250K–400K
Infrastructure Manager (VP)  10–15  150K–250K
Infrastructure Engineer (AVP)  6–15 90K–130K
Systems Administrator  4–8 60K–90K
L2 Support  5–10 60K–90K
Trading Systems Support (Front Office)  6–15 70K–140K
Info Security Director (VP to D) 15+  150K–250K
Info Security Specialist (AVP to VP)  8–15 100K–150K
Security Analyst  4–8 70K–100K

 

*Notes about salary table:

  1. Titles and levels vary from organisation to organisation.
  2. The salary ranges given are only approximate guides. For tailored salary advice, please contact us directly.
  3. 12-month base salaries are assumed.
  4. All other benefits and bonuses are in addition to these figures.
  5. Bonus ranges can vary significantly from company to company and will be influenced by market conditions, business and individual performances. Bonus ranges from 1 month at the low end to 100%+ at the upper.
  6. Holiday entitlements range from 1225 days with senior executives not usually receiving less than 18 days. Less than 15 is very rare and 20 days is becoming the norm.
  7. Healthcare policies are standard.
  8. Pension plans vary with some companies offering greater than the standard contribution. Top up schemes can increase employer contribution levels as much as 1520% of the base salary for senior executives.