Recruiters in Singapore, Hong Kong struggle to contain pay rises

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Recruiters in Singapore, Hong Kong struggle to contain pay rises

Cross-sector competition for tech professionals and restrictions on foreign talent have combined to generate astronomical pay rises for tech professionals in the Singapore and Hong Kong finance sectors, according to eight senior recruiters who attended a round table discussion organised by eFinancialCareers.

One recruiter said tech candidates in Singapore received 44% salary increases on average in Q3, with the outliers getting up to 82%. “Low-latency developers can literally pick and choose job offers. The days when us recruiters told them they can only get 20% increments are gone – they can ask for whatever they like,” said a Hong Kong headhunter. “We’ve also had people counter offered 60% – full stack developers and scrum masters in particular,” said another HK recruiter.

To find out more about compensation and other key issues in the Asian job market from a staffing agency perspective, download the full report of the round table.

Photo by Thomas Le on Unsplash

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