Tech employees expect 20% salary hike when switching jobs: report
On average, they can earn as much as $22,000 monthly.
Employees in technology-related roles expect a salary increase of up to 20% when switching jobs in similar industries, a report by recruitment company Michael Page revealed. Meanwhile, employees in digital-related roles expect an increase of between 10 to 15% when switching jobs.
The report noted that there is a huge demand for IT security roles, as well as digital transformation-led technical roles. “Digital transformation is the ongoing focus, but cybersecurity prefaces many organisations’ ability to improve operational technology,” the release read.
Similarly, companies seek local talents who can fill roles related to specialised ecommerce, digital marketing and data science, but face a shortage of supply.
Companies are also reportedly seeking leaders who can drive digital strategy while anticipating technology disruptors.
“Brands don’t expect that new hires will have all the right skill sets on day one – but they look for those willing and able to adapt and learn,” says Shinjika Shukla, associate director for Technology Practice at Michael Page Singapore. “This means a learning-based mindset, and overarching logic-based and problem solving skills. In a fast-changing market, those with the passion and curiosity to evolve will be those who land the best roles.”
IT security leads, data scientists, digital transformation-led roles, and software developers and lead automation experts were the most in-demand roles in the technology industry. Michael Page found that on average tech employees earn between $10,000 monthly (senior engineer, development, and architecture) up to $22,000 monthly (chief technological officer).
In the digital industry, the most in-demand roles include digital marketing manager, performance marketing manager, digital content manager, digital analytics manager, and CRM manager. On average, digital roles earn between $9,600 monthly (user experience web analytics) up to $23,000 monthly (ecommerce director).
The report also identified security, data and decision science, and cloud specialists and developers were identified as “trending” skills amongst the technology sector; whilst digital trending and innovation, digital marketing, and ecommerce-related skills as “trending” skills in digital.