As tech giants from the U.S. and China are expanding in Southeast Asia, best compensation levels are increasing. What’s more, regional and local startups face an even tighter tech talent crunch. Yet, the regional market remains attractive for securing diverse, experienced talent in building quality teams.
Glints and Monk’s Hills Ventures (MHV) have partnered to launch The Southeast Asia Tech Talent Compensation report. It’s a report that covers more than 1,000 data points tailored to tech startup talent. It talks to more than 20 founders across Singapore, Indonesia and Vietnam, including Marcus Tan (CEO of Carousell), Lai Chang Wen (CEO of NinjaVan), Dorothea Koh (CEO and co-founder of BotMD) and more.
There is a talent crunch in the regional area, particularly in Singapore. US and China companies are more likely to give higher compensation to tech roles, with companies entering the region, like TikTok, Tencent, and Zoom more likely to shell out above-market rates for tech talent and in particular, high performers. Moreover, roles such as product managers, engineers, data scientists earned more than those in non-technical roles.
Less than 32% of participants said they were compensated in equity. Yet, founders are spending more time to educate teams on the benefits of equity. Besides big tech companies, some startups are now offering annual wage supplements (AWS), bonuses, restricted stock units (RSU), or employee stock ownership plans (ESOP).
Most founders have adjusted to the new normal, implementing staggered work schedules in the office or 100% work from home policies. The report revealed the emergence of founders building completely remote teams and being more flexible on where to source the best talent.
Get the report for free HERE.
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