Tech salaries in Singapore mostly jumped in 2022 despite a string of tech layoffs and a slowdown in hiring, reports CNBC, citing a report by tech salaries aggregator Nodeflair and venture capital firm, Iterative. The roles with the highest wage increases year-on-year are blockchain engineers (+15.62%), mobile engineers (+11.73%) and site reliability engineers (+10.63%). Salaries of software engineers in Singapore also hit a record high after increasing an average of 7.6% in 2022. Not all tech roles saw increases as systems engineering saw pay declines of 2.01% year-on-year, while salary for cybersecurity engineering positions slipped 1.67% year-on-year. Quality assurance salaries also fell 0.95% compared to a year ago.

“The outlook for 2023 in the tech talent and hiring market is expected to show a continued demand for tech talents, although at a slower rate compared to the past few years,” the report stated. “The growth in salaries is unlikely to reach double digits, reflecting a more stable and balanced market.”