The rapid adoption and advancement of technology have accelerated the growth of the information technology industry, particularly in cybersecurity, payments, deep tech, data science, e-commerce and Service-as-a-Solution (SaaS). Microsoft estimates that there will be 149 million new technology-oriented jobs globally by 2025 across privacy and trust, cybersecurity, data analytics, cloud and software development.
The investments and growth in technology will drive further talent demand in Singapore, a highly ambitious country where there is already a scarcity of tech talent. The technology trends for 2021 includes a heightened job demand for developers (software developers, engineers, mobile, UX/UI), digital transformation, data scientists, cloud architects and cybersecurity experts.
However, the global demand for tech talent far exceeds the supply, and the small talent pool poses a challenge. These technology professionals are not only actively sought-after by global firms to drive innovations, but also by small-and-medium-sized enterprises and start-ups to increase their competitiveness and level the playing field.
2021 labour and salary trends for tech professionals
The job market in Singapore in the IT industry is expected to be more active in 2021, as more technologists will be looking for new career opportunities and exposure to build upon their existing skills and become better at what they do. Employees will also be more motivated to switch employers if they do not feel that they have made any progress in their existing job role.
On average and across the board, the salary increment for tech talent looking to switch employers ranges between 8% and 12%. Due to the scarcity and strong demand for tech talent, local tech professionals may receive a 20% to 30% salary increment when they switch employers in 2021.
download the digital copy of the singapore 2021 market outlook
key highlights in the information technology industry outlook in 2021
- evolution of job responsibilities and required skills for information technology in 2021.
- anticipated job mobility of professionals across industries and different levels of seniority.
- evolving job search behaviours and expectations to address in 2021.
read more on 2021 talent trends in Singapore in other industries:
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