3. The Covid-19 pandemic has numerous implications in the last
few years, not least a mindset shift among Singapore’s talent.
With the recruitment market more candidate-driven than ever,
coupled with a shrinking talent pool and stiffer competition, the
risk of not understanding what talent truly seek is watching
them leave for other companies.
In fact, half of Singaporean employees are looking to switch
jobs in 2022, seeking greater balance and increased career
opportunities.1
This is especially true among the younger
generation, ages 18 to 31.
2
Singapore Salary Guide 2022
4. As employees rethink where they work and why, employers are
being forced to recalibrate their talent needs. However, research
has shown that companies are still falling short where it matters
most.
Giving out higher premiums, signing bonuses and salaries is
currently the main way Singaporean companies are trying to retain
talent.2
Almost half (44%) of local companies turned to mid-year
salary adjustments to keep their current employees.3
Others gave
out higher bonuses or covered more talent expenses. However, this
is not sustainable in the long run, nor is it what most talent want.
Singapore Salary Guide 2022
3
3
5. 38%
indicated having a
positive work-life
balance
In a report by LinkedIn, employee happiness has dipped and
burnout has increased in recent months, suggesting that a
discrepancy still exists between what talent look for in an employer
and what employers are actually providing.4
This is further supported by our own research, which highlights that
less than a quarter of employees are happy in their current
company, and a worrying 64% of them openly pursuing a career
switch.
In times like these, the opportunity is there for forward-thinking
companies to prime themselves for the continually changing
expectations of talent in Singapore, as well as adjust their hiring and
management strategies.
Employee Happiness Index
4
31%
satisfied with current job
24%
unsatisfied with current job
64%
actively looking for a new job
28%
open to new opportunities
Singapore Salary Guide 2022
7. Culture Is King
Coming in at 62%, our findings show that the top predictor of
workplace satisfaction and the most important factor when it
comes to talent retention is a positive work environment and
culture.
We posit that the pandemic has precipitated a much stronger
emphasis on how companies function as a whole amid workplace
disruption. This is often manifested through the behaviour of its
leaders, how the company treats its employees and
communication across all levels.
It is imperative that employers look into building and nurturing a
company culture that not only embodies shared beliefs and values,
but also sustains productivity and commitment. This ensures that
employees are willing to walk that extra mile despite sudden
changes to strategies or priorities.
OUR DATA SHOWS
6
Singapore Salary Guide 2022
8. According to a Glints employee survey, these are the key levers that drive workplace satisfaction.
OUR DATA SHOWS
How The Best Companies Are Retaining Talent
7
Singapore Salary Guide 2022
Positive work
environment & culture
Opportunities for
personal growth
Opportunities for
professional learning &
development
Flexible working options
Good career
progression
Strong company
reputation
Good healthcare
benefits
Attractive salary
package
1 2 3
4
7
8
5 6
9. But Money Still Talks
Salary averages have risen by 10%-25% in 2021 due to growing demands and limited
supply of talent. However, this appears to be focused on incoming talent rather than
existing talent. In reality, both existing employees and those switching jobs expect to
see raises that match industry standards.
Our findings show that 40% of existing employees are dissatisfied with their
current salary, yet only 14% of employees received a pay raise reflective of
industry trends last year.
This unhappiness also stems from the lack of bonuses despite being eligible,
mandatory pay cuts due to cost-cutting measures, and salary stagnation despite
rising inflation and cost of living. With nearly 73% expect to see a pay raise in 2022,
the onus is on employers to do more to address the pay gap.
One trend that has risen in popularity are Employee Stock Option Plans (ESOPs), an
incentive often used by startups and growing companies in order to compensate
employees in a way that does not put a huge strain on cash flow.
OUR DATA SHOWS
41%
of employees
saw their pay remain the same
70%
of eligible employees
did not receive bonuses
33%
of employees received a pay cut
8
Singapore Salary Guide 2022
10. Embrace The New Normal
Employers who still expect their employees to follow traditional work arrangements
may find themselves at the losing end when attracting and retaining top talent.
Even as the pandemic abates, working partially in the office or fully remote will no
longer be seen as an experiment. Many employees have gotten used to the flexibility
of working from home (WFH). Flexible working arrangements (FWA) where employees
plan their own work schedule is also expected to become more common.
The challenge of adapting to WFH or FWA lies in having the right resources to make it
happen smoothly. A report from Dell Technologies said that 49% of local employees
don’t think their bosses are doing enough to make WFH work properly.5
Furthermore, younger generations place greater value on workplace flexibility,6
an
important consideration to keep in mind as the workforce shifts in a younger direction.
More than ever, employers need to be aware of these changes in opinion.
OUR DATA SHOWS
9
Singapore Salary Guide 2022
22%
of employees
prefer a hybrid work model
40%
of employees
prefer flexible working hours
11. Companies will have to discard the notions of the 9-5 hustle,
while managers will have to learn to trust their team to get the
job done on time without round the clock supervision.
As WFH tends to see employees working more, it’s important for
employers to emphasise sticking to a normal routine and not
arrange meetings outside of regular work hours. Everyone
needs time off, and the lack of structure can lead to fast
burnout and even quitting.
Those who fail to do so will see their top talent leaving and face
difficulties in recruitment.
10
Singapore Salary Guide 2022
12. Fast Track Continuous Learning
Today’s knowledge-based economy has placed a premium on top-tier talent,
elevating the need for reskilling and upskilling to cope with new demand, especially in
the digital space.
Unsurprisingly, the pandemic has reignited Singapore’s commitment to lifelong
learning and upskilling, with initiatives such as SkillsFuture and Skills Path supporting
talent looking to strengthen their skills.
But beyond the scope for learning and development (L&D) opportunities, employers
clearly need to do more to foster a workplace environment for both personal and
professional growth.
66% of employees felt that their current company’s L&D opportunities are
inadequate, with most citing that they did not have the time to take them up. Not only
are picking up the latest skills necessary for employees to improve their employability,
it’s a reflection of how much a company cares about their talent.
If this does not spring employees into action, a recent LinkedIn report should - it found
that more than two in five employees have left a company because they felt that it
did not have a positive learning environment.7
It is critical for employers to establish a healthy cycle where employees are
empowered to learn and apply new competencies in the workplace at their own
pace. Such an environment will not only attract candidates who are eager to push
themselves, it also leads to sustainable business growth through employee retention.
OUR DATA SHOWS
11
Singapore Salary Guide 2022
78%
of employees felt that they were
able to develop their soft skills
76%
of employees felt that they were
able to develop their hard skills
13. According to Glints’ Job Marketplace, these are the most in-demand soft and hard skills that employers are looking for.
OUR DATA SHOWS
In-Demand Hard Skills
In-Demand Soft Skills
Software Development SEO / Google Analytics
Computer Networking UI/UX Development
Singapore Salary Guide 2022
12
Communication Leadership
Teachability Analytical
14. 25%
of employers hired freelancers
50%
of employers hired contract staff
The Future Workforce
With 22% of companies implementing a hiring freeze while dealing with natural
attrition, there exists a struggle to ensure enough manpower to withstand
challenging market conditions and keep processes running smoothly.
As the competition grows fiercer for local talent exacerbated by an ongoing
shortage of skilled talent, companies are looking beyond the traditional workforce,
with more being receptive to the idea of freelancers and contract staff. Freelance
and contract talent can be temporary solutions while the company looks for more
permanent employees, allowing projects to stay on schedule.
Another big trend to watch is hiring remote talent, specifically those based in
Indonesia, Taiwan and Vietnam. By tapping on larger and more diverse talent pools
in Southeast Asia, employers can have work done in a more cost-effective manner.
These talent are not only equipped with English skills, but also with a wide array of
relevant skills to fill urgent and highly technical roles. Plus, little to no time difference
between remote and local teams means that all parties are able to collaborate
without any productivity bottlenecks.
This trend, however, cuts both ways. Companies may find top local talent seeking
greener pastures offered by global giants. One thing is for certain: in the new
geography-agnostic landscape of borderless work, employers must ramp up their
efforts to build a poach-proof team.
OUR DATA SHOWS
13
Singapore Salary Guide 2022
31%
of employers hired remote talent
15. A Vote of Confidence
Companies can take comfort knowing that despite the mindshift shift among
Singapore’s talent, most employees still trust their employers to bring in the right
people.
This level of confidence, however, should not be taken for granted. The hiring process
is an important reflection of company culture, and candidates expect it to mirror how
things happen in the workplace.
Therefore, when the process for joining a workplace is engineered through an
antiquated or broken recruitment pipeline, it makes attracting new talent even more
difficult. Employers should not lose sight of the long-term, and constantly review
and refresh their recruitment methods.
More importantly, make sure the pace of hiring reflects modern practices. Explore new
technologies to augment your recruiters’ efficiency. Today’s AI-based algorithms can
quickly process data to an unprecedented degree for more precise talent screening.
OUR DATA SHOWS
14
Singapore Salary Guide 2022
77%
of employees
were confident in their company’s hiring processes
16. How The Best Companies Are Attracting New Talent
According to a Glints employee survey, these are the key motivators employees value when searching for a new position.
OUR DATA SHOWS
High job
security
Strong
company
reputation
Opportunities
for personal
growth
Healthy
work-life
balance
Positive work
environment
& culture
Opportunities
for professional
L&D
Good
career
progression
Attractive
salary
package
Less important Most important
15
Singapore Salary Guide 2022
18. Technology has changed drastically over the course of the last few years and so
has the way we interact with it. Many aspects of our lives and work has been made
even more accessible at our fingertips. More businesses have gone online to
continue selling products, food delivery services became more popular,
non-essential workers started working remotely and even our health is being
tracked by an app.
Singapore’s push toward being a “Smart Nation” and Singaporeans’ high digital
adoption rates have undoubtedly created numerous opportunities in the tech
industry. But with that comes new challenges in meeting demands.
An estimated 2,500-3,500 tech jobs are created each year, both from existing
tech giants and rising startups.8
As international companies set up offices in Singapore, the local talent pool is
stretched thinner and thinner every day.
Add to that the wave of digitalisation caused by the pandemic and Singapore is
seeing a surge in tech like no other.
It’s no surprise that tech talent is in higher demand than ever before.
Growing Pains or Lasting Signs?
17
Singapore Salary Guide 2022
19. A poll by Singapore Infocomm Technology Federation in 2017
showed that concerns for needing tech talent were already
recognisable. In January 2021, the tech talent shortage was made
more apparent.9
Government job boards and public job boards alike saw a rise in
postings for tech talent.10
Despite government programmes to
retrain tech skills and students graduating with degrees in science
and technology, the deficit remains.
Growth in the Singapore tech industry has seen many positions
left empty due to the lack of sufficient local talent. Despite the
4,500 students graduating from polytechnics and technical
education institutes each year and 2,800 undergraduate students
enrolling in ICT courses, the numbers are not enough to meet the
nearly 6,500 job openings by financial institutions alone.11
Furthermore, although tech talent find themselves in high demand
after graduation, their skillset is not always enough for what tech
companies require. Some companies see an influx of applicants in
more junior positions, while applicants for the senior roles often
have inadequate qualifications.12
Some predictions say that Singapore could see a talent shortage
of 1.1 million highly skilled talent by 2030.13
18
Singapore Salary Guide 2022
20. An estimated 1.2 million workers with digital skills need to be trained
by 2025 to help make up for the talent deficit.14
Although 63% of
Singaporean employees already use basic digital skills at work each
day, only 59% are applying advanced skills.15
At the rate of Singapore’s
tech growth, all local talent will need to learn seven new digital skills to
keep up with the rate of development.
Industries like banking, rapid consumer goods and professional services
saw themselves needing more tech talent to keep up with customer
needs. However, the insufficiency was felt the most by startups, with 91%
struggling to find suitable applicants. Additionally, 76% of SMEs and 75%
of MNCs face the same struggle with needing tech talent that aren’t
available.16
If new talent are not trained and encouraged to advance their skills,
Singapore could see the pool not only shrink, but also fall behind other
Southeast Asian countries. The goal of being one of the central tech
hubs in the region and become a “Smart Nation” would be more of a
dream than a reality.
19
Singapore Salary Guide 2022
21. In-Demand Tech Skills
The field of technology has been growing rapidly, and as a result, there is a growing demand for talent with highly advanced
skills to help companies keep up with new developments. The top tech talent demands in 2022 are in data science and
engineering, cybersecurity and developers.17
Without talent that can fulfill these shortages, companies may find themselves
lagging behind industry standards.
20
Data Analytics & Data Science Software Development
Cyber Security
Cloud Engineering
AI & Machine Learning
Singapore Salary Guide 2022
22. Consequently, the greater demand for tech talent with capabilities
to develop, execute and support digital blueprints in this new
environment has caused a hiring revolution in the labour market.
Greater demand for specific skill sets and critical roles, wider
options locally and internationally, and reduced barriers of
transition have made it easy for these talent to move between
companies no matter where they are, and be more selective in
picking jobs that offer them the best package.
Given the heightened priority tech talent place on finding jobs that
best fit their personal needs and desires, employers now have a
greater obligation than in the past to convince existing high
performers and prospective tech talent why they should stay or
join their organisations.
New Rules of Engagement
With tech giants like Zoom, Tencent, AliBaba and ByteDance
setting up offices here and offering tech talent with blank cheques,
salaries have gone up as companies try desperately to attract
new talent from competitors.18
Along with this, a salary raise is
expected to follow as companies compete for the best talent in a
limited pool. 85% of tech and transformation firms are giving pay
raises, more than any other industry except the human resource
sector.19
In this talent-driven market, employers need to pivot their
thinking beyond compensation. Today’s tech talent are placing
increased importance on company culture, work-life balance,
progression opportunities and workplace flexibility as they are by
salary.
21
Singapore Salary Guide 2022
23. To help employers better understand the tech talent market, the
coming sections will be a deep dive into four key sectors:
Based on reports from our experts and trend analysis using several
data points from Glints’ Job Marketplace, these sectors have
experienced the most growth over the past 12 months. With that
comes challenges to find suitable talent and what to pay them in a
climate which sees more demand than supply.
As such, our salary benchmark will help employers assess the right
compensation for several key tech and digital roles within each
sector. The following insights will also explore these four industries
and its impact on the tech landscape, as well as the challenges
they face.
22
Singapore Salary Guide 2022
Banking and
financial
services
Internet software Digital
marketing/
advertising
25. Singapore’s finance industry is set to become one of the fastest
growing industries in 2022.20
Technology around finance and
banking has advanced significantly over the past few years, turning
Singapore into a notable hub for fintech.
More and more companies will require talent with tech and digital
skills to continue building on what has been done during the
pandemic. Talent with the ability to adapt between online and
in-person services will be greatly valued. The pandemic has
demonstrated a need for those who can switch seamlessly
between two different forms of service, and this will likely continue
to be the norm now that people have gotten used to handling their
finances digitally.
However, Singapore has seen a clear shortage in fintech talent
since 2019, when 64% of employers were already saying that it was
difficult to hire such talent.21
A large part of the shortage is due to
the lack of skilled professional talent, many of whom switch jobs
frequently.
Most Necessary Skills
Financial
Advising
Fintech AI Savings &
Investments
Financial
Reporting
Singapore Salary Guide 2022
24
26. The rise of online banking has opened doors for even more people
to seek financial assistance, creating a greater need for advisors
and managers. An estimated 6,500 jobs will be available in this
industry alone, of which 44% were open to mid-careerists with
little to no experience.22
As more people take proactive steps to manage their money, the
tools around this have developed as well, furthering what banks
are able to do for their customers. Nearly 46% of Singaporeans
use some form of digital tool to track their financial status, as
stated in a report by OCBC.23
This prompts more banking apps to
improve their user interface and accessibility.
These rising trends make it possible for further advancement in
financial literacy and technology in this area, as more people find
themselves willing and able to learn how money can work for
them.
Cryptocurrency has also gained popularity in the last decade.
Nearly 16% of adults own crypto, putting Singapore ahead of
most other countries.24
Predictably, Bitcoin is the most popular
currency, but Ethereum and Cardano follow closely behind.25
The numbers grow as 37% already pay or are interested in
paying for things through cryptocurrency.26
Though Gen Y is currently the most open to this (58%), younger
generations are likely to gain interest as crypto becomes safer
and easier to understand.27
As more people trust in it as an
investing platform, talent with experience in AI, data analytics
and cryptocurrency have been in greater demand.
Cryptocurrency
Banking
25
Singapore Salary Guide 2022
27. Fintech has been on the rise for several years, but the pandemic
saw a surge in people needing to use online banking and virtual
transactions to continue with daily life. Services like PayNow and
PayLah! have made it easier to split cheques and send money to
friends and family.
The use of digital payments has increased greatly, allowing for
contactless transactions and easy online shopping. Undoubtedly,
online transactions allowed Singaporeans to adapt during the early
stages of lockdown. Overall, 86% of digital payments during the
pandemic were from online shoppers.28
In 2020, digital wallets were the second-most popular method of
payment (20%), right behind credit cards.29
It accounted for 45% of
e-commerce transactions and is expected to grow another 40% by
2024.30
The more this grows, the more skilled talent are needed to
manage the volume and safety of online payments.
Digital Payments
26
Singapore Salary Guide 2022
33. The Internet sector have grown immensely over the past few years.
The push for digitalisation as well as the increase in online users has
reshaped how businesses operate. E-commerce alone has become
one of the largest online forces in Singapore, along with gaming and
entertainment streaming.
With the tech industry making up the majority of available jobs in
Singapore, Internet talent is set to become another area of deficit.
Already, there are concerns that the need to keep up with the
newest technologies can be overwhelming for companies that
don’t have the right resources or talent.
The costs of changing and maintaining a digital space is too much
for some, even with government-funded help. Companies without
large customer bases could be hesitant to spend the time and
money on such endeavors without the guarantee of a return that is
worth their while. Yet, not being part of the digital space could harm
them as much as taking the leap to digitalise. Without an online
footprint or network, some businesses might not survive the
continuous changes that require constant learning and updating.
Even with hiring digital talent to make the transition smooth, the cost
is too much for some SMEs and local businesses. The struggle then
becomes a balancing act between choosing to spend wisely and
needing skilled talent to help create and maintain an Internet
presence. Some of the most sought after talent are digital
marketers, software engineers, project managers and business
analysts.31
Most Necessary Skills
Digital Marketing Software Engineering
Project Management Business Analysis
32
Singapore Salary Guide 2022
34. E-commerce
One of the greatest booms that happened as a result of
the Internet has been e-commerce. In Singapore, online
sales have hit approximately US$10 billion (SG$13.5 billion)
this year.32
The number of people who shop online for
necessities and for entertainment has grown significantly
since the start of the pandemic. The convenience of
buying something online at any time and having it
delivered has driven more people to ship virtually rather
than in stores.
E-commerce is so popular that it outranks gaming as one
of the top activities people do online. Among the most
popular are Lazada, Carousell, Qoo10 and Shopee.
Though they all fall under the category of retail, each has
a different focus that serves a slightly different clientele.
Shopee alone saw an 82% increase in traffic during the
first quarter of 202133
.
Additionally, social commerce has grown as well, all due
to people buying and selling on social media platforms.
Facebook has become the largest social commerce
platform, not only selling through Facebook Marketplace
but also Whatsapp and Instagram Shops.34
33
Singapore Salary Guide 2022
35. Gaming
The multi-billion dollar gaming machine has also found itself at the
centre of every forward-thinking business person’s mind. Mobile
games, in particular, have increased in popularity.
Garena, the largest gaming company in Singapore, developed Free
Fire and saw 80 million daily active users in 2020.35
Though most of
the audience is based in China, it has become the most popular
mobile game in the world.
This has caught the attention of the international gaming industry,
which predicts that Singapore will become important to the
industry, especially thanks to a concerted government effort to
attract large gaming organisations here and upskill the local
workforce.
Singapore’s games market is expected to be worth at least $130
million by the end of this year – and then $138 million by 2024.36
2
Singapore Salary Guide 2022
34
41. The digitalisation of businesses in Singapore has grown immensely
as a result of the pandemic. A joint survey from Microsoft and IDC
showed that 73% of local companies accelerated their digitisation
during this time.37
The need to digitalise comes mostly from external
pressures as the pandemic has changed how consumers obtain
products and services.38
However, in order to keep up with this pace, more skilled talent are
needed. Locally, 83% of SMEs have transformation plans in place,
but only half that number are able to successfully implement
them.39
This puts them ahead of other Southeast Asian countries, though
Singapore’s SMEs still fall behind mid-sized and large corporations.
Pushes toward making Singapore a more technologically advanced
country requires immense software talent to create and maintain
programmes. Companies that aim to help this progression will find
it hard to attract talent with the necessary skills, and the
compensation required will likely be higher than other fields.
Most Necessary Skills
Data
Science
Data
Analysis
Software
Development
Cloud
Computing
Coding
40
Singapore Salary Guide 2022
42. Video conferencing
Perhaps one of the most notable things about working during the
pandemic is the the adoption of video conferencing. With the
potential to break down physical barriers and foster the ability to
collaborate, demand for conferencing tools such as Zoom, Skype,
Google Meet, Microsoft Teams and Cisco WebEx will not slow down,
even in the post-Covid-19 world.
According to a new study commissioned by Zoom, four in five
Singaporeans believe that everything will have a virtual component,
with video conferencing taking on a huge role in the future of
business.40
The study also revealed that the most common uses of video
conferencing by respondents in Singapore were for business (60%),
education (58%) and events (53%). Other areas which saw
significant growth include telemedicine (20%), which shot to
prominence in recent years, fitness (24%) and financial services
(22%).41
41
Singapore Salary Guide 2022
51. 2021 saw an estimated $1.2 billion spent on ad-media in
Singapore.42
In 2020, 72% of marketing was done through
mobile advertising.43
Moreover, 25-43% of digital marketers in
the country spend their budget on content, whether through
external or internal creation.44
To find the right method of advertising, it has become even
more important to understand what consumers are looking for
and how best to reach them through social media.
As a result, much of marketing and advertising has turned
digital to align with the shift in consumer behaviour. Ads in
YouTube videos and Instagram stories have become some of
the easiest ways to get a product or service noticed. Adding in
the rise of influencers on social media who receive
sponsorships and do product reviews, the world of marketing
and advertising has become a different world than what it was
two decades ago.
Data analysts are highly valued in digital marketing and
advertising. Being able to determine how well an advertising
campaign has done across a variety of platforms and through
different influencers. These are the talent responsible for
compiling and making sense of the numbers that come in,
ranging from Instagram saves to TikTok views.
50
Singapore Salary Guide 2022
Digital marketers with a deep understanding of SEO (search
engine optimization) are also greatly needed. Without SEO, online
ads would not reach the right audiences or show up in online
searches. Though basic SEO can work for personal branding, deeper
understanding is required for companies and businesses to appear
in the first page of search engines.
Finally, digital leaders are a huge necessity. Someone with vision
and understanding of digital marketing and social media is crucial
to the success of a company and its advertising plans. Without the
experience and foresight, it would be hard to set yourself apart from
other companies doing the same thing.
Digital Marketing Data Analytics SEO
Cloud Computing Coding
Most Necessary Skills
52. Social media
Undoubtedly, social media has become the new playground for products and services to
reach consumers. With it comes a different set of guidelines and methods for attracting
target consumer ranges. A skill set in digital marketing is the versatility needed for a
campaign to work across multiple platforms.
As more companies focus on digital advertising, innovation and eye-catching content
becomes the forefront of what goes into creative planning. If the first seven seconds of a
YouTube video determines whether viewers will continue, digital advertising has even less
time to capture the attention of online consumers.
Though it blurs the line between social media and entertainment streaming, YouTube is
the most used platform for Singaporeans. It has 4.4 million users in Singapore alone45
-
an impressive feat for a country with 5.45 million citizens. However, it’s hard to determine
how much video content consumed is made by local creators.
Facebook and its subsidiaries come next in terms of daily users. Whatsapp, a messaging
app owned by Facebook has a daily user base of 4.32 million, while Facebook itself sees
4.06 million users each day. Instagram comes in 4th place with 3.2 million users each
day.46
Each of these platforms has its own demographic that affect how a digital marketing
plan would unfold. Facebook users tend to be older, with much of the younger generation
leaning towards YouTube and TikTok as their primary social media outlets. The age gap
changes how an ad might be perceived and what the click-through rate is.
Instagram has a steady demographic of users between 25-34 years old, making it a
great place to market to young adults and professionals.47
51
Singapore Salary Guide 2022
59. SALARY BENCHMARK | Digital Marketing
Singapore Salary Guide 2022
58
Job Function Job Title Salary (SGD)
Marketing Public Relations Executive 2,000 - 3,000
Public Relations Manager 4,000 - 5,000
Social Media Content Strategist 3,000 - 5,500
Video Editor 2,000 - 3,000
Video Specialist 2,200 - 2,300
User Acquisition Manager 3,000 - 4,500
Social Media Manager 4,000 - 6,000
Web Analytics Specialist 1,500 - 6,000
65. The key to
attraction &
retention:
Are you investing in
human capital?
Singapore Salary Guide 2022
64
66. The key to finding suitable talent has more to do with
understanding their wants and needs than simply paying them
well. While good salaries are necessary and should match industry
rates, it is equally important to show them that they are cared for by
the company and encouraged to improve themselves.
In this post-pandemic world, talent want healthy work spaces with
boundaries that do not bleed over into their personal lives. Being
able to leave work at work is important to the mental and physical
wellbeing of employees. A good culture is instrumental to keeping
talent happy and making them feel like they’re part of something
they can take pride in.
Whether it be fully remote work, flexible working hours or a
compressed work week, it’s clear that there need to be more
options than the traditional 9-5. Talent with families could use a
different scheduling method to spend time with their family and still
get work done. No longer is it about fulfilling a strict 8-hour work
day, now it’s important to be flexible and trust that talent will still get
their work done on time.
4
Singapore Salary Guide 2022
65
67. As the world and digital space continue to change, it’s necessary to
change with it. What worked a decade ago might not work now, but
there could be something better instead. In order to attract the kind
of talent that can advance a company, you first have to show that
you’re the kind of company that already thinks ahead of the others,
and like-minded talent will be drawn to you.
The companies that will struggle during this time are the ones who
cannot change with the times. Rather than being one of them, aim
to be a company that remains a step ahead of everyone else in the
way you approach hiring, projects and industry advancement.
4
Singapore Salary Guide 2022
66
68. About
Glints for Employers is the trusted partner of
global startups and enterprises for talent
recruitment and management in Southeast Asia
and Taiwan. Half the time, half the cost - our
expert, tech-enabled team of recruiters will help
match you with skilled candidates locally and
across the region, and onboard new remote talent
to your business quickly and affordably.
Discover our full range of hiring services and start
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Singapore Salary Guide 2022
69. Glints is Southeast Asia and Taiwan’s largest talent platform for
career development and recruitment. Founded in 2013 in Singapore,
Glints has empowered more than 2 million professionals and 40,000+
organisations to realise their human potential. Every day, we are
helping organisations build great teams and pairing talent up with
great opportunities, one match at a time.
SINGAPORE
SALARY
GUIDE 2022
The content in this report is for general information purposes only, and should not be used as a substitute for consultation with professional advisors. This document
was produced by Glints as of the date of writing and are subject to change. Glints makes no representation or warranty, either expressed or implied, as to the
accuracy for completeness of the information in the report and shall not be liable for any loss arising from the use hereof.
71. 1. “48% of Singaporeans plan to switch jobs in 2022: study”. 21 November 2021
https://www.msn.com/en-sg/money/topstories/48-of-singaporeans-plan-to-swit
ch-jobs-in-2022-study/ar-AAQYheR?li=BBr8YXL
2. Arianna Danganan, “Why do Singapore firms still struggle to retain talent?”.
https://sbr.com.sg/hr-education/in-focus/why-do-singapore-firms-still-struggle-
retain-talent
3. Mimi Wong, “Compensation matters, but may not solve talent troubles of
Singapore companies, says Mercer”.
https://www.mercer.com.sg/newsroom/hiring-and-retention-trends.html
4. “Talent Market Drivers Since the Start of COVID: Singapore Report”.
https://business.linkedin.com/talent-solutions/resources/talent-strategy/talent-tr
ends-covid-report/singapore#talent
5. Dion Thai, et., al. “Driving productivity using remote working“. 2 February 2021.
https://www.businesstimes.com.sg/opinion/driving-productivity-using-remote-wo
rking
6. “Article: Impact of COVID-19: Remote Working in Singapore”. 12 November 2021
https://stats.mom.gov.sg/Pages/Impact-of-COVID-19-Remote-Working-in-Singap
ore.aspx
7. Janice Lim, “More than 40% of Singapore workers quit job due to lack of skills
training: Survey”. 30 September 2019
https://www.todayonline.com/singapore/more-40-singapore-workers-quit-job-d
ue-lack-skills-training-survey
8. Avik Das, “Singapore’s tech is booming, but it does not have enough talent”. 18
June 2021
https://timesofindia.indiatimes.com/business/international-business/singapores-t
ech-is-booming-but-it-does-not-have-enough-talent/articleshow/83560826.cm
s
9. “Recruiting Talent Remains Top Concern for Singapore’s ICM Industry”
https://sgtech.org.sg/SGTECH/Web/SiTF_News_2017/Recruiting_Talent_Rem
ains_Top_Concern_for_Singapore_ICM_Industry.aspx
10. Chen Lin, et., al. ”Singapore faces talent crunch as tech giants scale up.” 27
January 2021
https://www.reuters.com/article/us-singapore-technology-hiring-idUSKBN29
W0GR
11. Janice Lim, “6,500 new financial sector jobs in 2021 amid shortage of
S'poreans to fill rising number of tech roles: MAS”. 4 May 2021
https://www.todayonline.com/singapore/6500-new-financial-sector-jobs-2
021-amid-shortage-sporeans-fill-rising-number-tech-roles
12. “Tech In Asia Conference 2020 Report”.
https://nextbn.ggvc.com/wp-content/uploads/2020/10/Tech-in-Asia-Confer
ence-2020-Report.pdf
13. “Overcoming Singapore’s Talent Shortage: A Look at Top Talent Hubs”. 13
September 2021
https://www.hrtech.sg/blog/overcoming-singapores-talent-shortage-a-loo
k-at-top-talent-hubs/
14. Janice Lim, “Singapore needs another 1.2 million workers trained in digital
skills by 2025: Report”. 26 February 2021
https://www.todayonline.com/singapore/singapore-needs-another-12-millio
n-workers-trained-digital-skills-2025-report
15. “Singapore will require 1.2 million digitally skilled workers by 2025: survey”.
26 February 2021
https://www.livemint.com/industry/media/singapore-will-require-1-2-million
-digitally-skilled-workers-by-2025-survey-11614316320067.html
16. Jo-ann Huang, “Learn the ABCs of hiring remote talent [Ebook]”. 8
September 2021
https://employers.glints.com/sg/blog/2021/09/08/learn-the-abcs-of-hiring-
remote-talent-in-our-new-ebook/
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Singapore Salary Guide 2022
72. 17. Janice Heng, “Tech talent most in demand as Singapore hiring picks up in 2022:
Surveys”. 6 December 2021
https://www.straitstimes.com/singapore/jobs/tech-talent-most-in-demand-as-si
ngapore-hiring-picks-up-in-2022-surveys
18. Rachel Phua, “Singapore-based firms turn to remote hiring amid tech talent
crunch”. 22 May 2021
https://www.dealstreetasia.com/stories/startups-remote-tech-talent-240684/
19. Janice Tan, “76% of firms willing to give pay raise to sales and marketing teams.
But do they want it?”. 6 December 2021
https://www.marketing-interactive.com/study-76-of-firms-willing-to-giving-pay-
raise-to-sales-and-marketing
20. “Top 10 Fastest Growing Industries in 2022”.
https://www.mdis.edu.sg/blog/top-10-fastest-growing-industries-in-2022/
21. “94% of survey respondents agree Singapore is facing an acute fintech talent
shortage”. 24 September 2019
https://www.michaelpage.com.sg/about-us/media-releases/94-survey-responde
nts-agree-singapore-facing-acute-fintech-talent-shortage
22. Chew Hui Min, “Finance sector projected to create 6,500 jobs in 2021, building on
last year's expansion”. 4 May 2021
https://www.channelnewsasia.com/business/finance-sector-create-6500-jobs-2
021-tech-consumer-banking-1388041
23. ”The Covid-19 pandemic has made many Singaporeans adopt better financial
habits”. 2 November 2021
https://www.ocbc.com/group/media/release/2021/ocbc-fwi
24. Ann Williams, ”Nearly 16% of Singaporeans surveyed currently own
cryptocurrency”. 25 October 2021
https://www.straitstimes.com/business/banking/nearly-16-of-singaporeans-surve
yed-currently-own-cryptocurrency
25. Adam Hayes, “10 Important Cryptocurrencies Other Than Bitcoin”. 31 January
2022
https://www.investopedia.com/tech/most-important-cryptocurrencies-other-
than-bitcoin/
26-27. Aaron Raj, “Crypto payments becoming a trend among Singaporeans”. 1
November 2021
https://techwireasia.com/2021/11/crypto-payments-becoming-a-trend-amon
g-singaporeans/
28. “COVID-19 game changer: UOB survey shows 70 per cent of consumers
increased digital payment usage in Singapore”. 4 January 2021
https://www.uobgroup.com/uobgroup/newsroom/2021/uob-survey-shows-70
-per-cent-of-consumers-increased-digital-payment-usage-in-singapore.pa
ge?path=data/uobgroup/2021/141&cr=segment
29-30. Natalie Choy, ”Digital wallets to overtake credit cards by 2024 amid
e-commerce boom: Report”. 3 March 2021
https://www.straitstimes.com/business/banking/digital-wallets-to-overtake-c
redit-cards-by-2024-amid-e-commerce-boom-report
31. Bridget Loudon, “Why the Skilled Talent Market Is So Tight”. 12 July 2021
https://expert360.com/articles/6-reasons-why-talent-market-so-tight
32. Prisca Ang, “E-commerce sales in Singapore forecast to hit $13.4 billion by
2026: Report”. 31 August 2021
https://www.straitstimes.com/business/economy/spore-e-commerce-sales-f
orecast-to-hit-134-billion-by-2026-report
33. “Statistics on E-Commerce Landscape in Singapore (Updated 2021)”. 21
June 2021
https://heysara.sg/statistics-on-e-commerce-landscape-in-singapore/
34. Amanda Silberling, “Facebook adds Shops to WhatsApp, among other
e-commerce updates”. 23 June 2021
https://techcrunch.com/2021/06/22/facebook-whatsapp-e-commerce-featur
es/?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce
_referrer_sig=AQAAALGLeddnCo_lCHaul3RRsnYuotyhLFA_itf-tYraZmYUvQE8Bs
eTXS00eDwbGxXNdg2IqiwAj5b29dddO5yBIwGuk7wps_Hq0b8GeD_dvlTBK_tF-8
sL4cgGrpnqac7ttTaANuxxBhM0KuaBNG-F3NQg0-aBy39rvkzQnYJai2uQ
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Singapore Salary Guide 2022
73. 34. Amanda Silberling, “Facebook adds Shops to WhatsApp, among other
e-commerce updates”. 23 June 2021
https://techcrunch.com/2021/06/22/facebook-whatsapp-e-commerce-features/
?guccounter=1&guce_referrer=aHR0cHM6Ly93d3cuZ29vZ2xlLmNvbS8&guce_referr
er_sig=AQAAALGLeddnCo_lCHaul3RRsnYuotyhLFA_itf-tYraZmYUvQE8BseTXS00eDw
bGxXNdg2IqiwAj5b29dddO5yBIwGuk7wps_Hq0b8GeD_dvlTBK_tF-8sL4cgGrpnqac7
ttTaANuxxBhM0KuaBNG-F3NQg0-aBy39rvkzQnYJai2uQ
35. Dean Takahashi, “Free Fire sets record with 80 million daily players for
free-to-play mobile battle royale”. 18 May 202
https://venturebeat.com/2020/05/18/free-fire-free-to-play-mobile-battle-royale-
hits-80-million-daily-users/
36. “Gaming Matters 2021 shone a light on why Singapore is so important to the
games industry”. 22 October 2021
https://www.nme.com/features/gaming-features/gaming-matters-2021-shone-a
-light-on-why-singapore-is-so-important-to-the-games-industry-3076225
37, 39. “Over 80% of Singapore SMEs embrace digital transformation; more than
half report slowdowns due to COVID-19: ASME-Microsoft study 2020”. 22 October
2020
https://news.microsoft.com/en-sg/2020/10/22/over-80-of-singapore-smes-embr
ace-digital-transformation-more-than-half-report-slowdowns-due-to-covid-19-
asme-microsoft-study-2020/
38. “How COVID-19 has pushed companies over the technology tipping point—and
transformed business forever”. 5 October 2020
https://www.mckinsey.com/business-functions/strategy-and-corporate-finance/
our-insights/how-covid-19-has-pushed-companies-over-the-technology-tipping
-point-and-transformed-business-forever
40-41. “Will video conferencing take over the future?”
https://sbr.com.sg/hr-education/news/will-video-conferencing-take-over-future
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Singapore Salary Guide 2022
42. “Buzzworthy Digital Marketing Trends in Singapore in 2021”, 23 June 2021
https://qrmart.com.sg/articles/buzzworthy-digital-marketing-trends-in-singapore
-in-2021-119.html
43-44. “Digital Marketing Statistics Singapore 2019, 2020, 2021”, 5 October 2020
https://mediaonemarketing.com.sg/digital-marketing-statistics-singapore/
45-47. Heng Wing Lee MICA, “The Complete Guide to Social Media Statistics in
Singapore”. 3 January 2022
https://www.bestinsingapore.co/singapore-social-media-statistics/
