Tech wage growth in the APAC region is mixed

Tech wage growth in the APAC region is mixed

The Covid-19 pandemic has increased the overall demand for IT talent in the Asia-Pacific region as organizations double their digital transformation to exploit new business opportunities.

That pushed IT salaries up to $ 300,000 a year last year for people in managerial positions, including IT directors and chief technology officers, while median salaries across all functions and levels. seniority amounted to $ 46,750.

These are some of the key findings from the latest Computer Weekly / TechTarget IT salary survey, where 40% of APAC respondents said they got a raise while 27.4% received a bonus last year. About 13% received a larger compensation package that included stock options, while 9.1% suffered a pay cut.

Given the tight IT job market, around four in ten IT professionals were open to new job opportunities even if they were not actively looking for a new position. The good employment outlook is reflected in the optimism of wage increases this year.

According to the survey, nearly half (48.9%) of APAC respondents expected their wages to increase this year, with 25.2% who would most likely receive a bonus.

However, around 40% of respondents expected their salaries to stay the same. They came from organizations hardest hit by the pandemic, where one in four people said the pay freeze was still in place, along with reduced working hours. About one in 10 IT workers has also been laid off.

Of those who were still employed, about one in five worked longer hours to meet business demands. One in five companies also hired additional IT staff to handle the higher workloads, and 8% have increased their use of contractors.

The IT industry has improved the diversity of its workforce in recent years, and these efforts are still ongoing. According to the survey, almost 60% of those surveyed said their organizations addressed gender equality and around 42% addressed age-related hiring issues.

According to Korn Ferry’s Global Talent Crunch study, the Asia-Pacific region could face a severe talent shortage of two million tech, media and telecommunications workers by 2030. The data analysis, cybersecurity and cloud computing are areas where talent is still lacking. organizations invest more in these technologies to gain a competitive advantage.

To fill the talent gap, companies like Singapore’s DBS Bank have even launched an in-house digital training institute to keep its nearly 5,000 tech employees up to date with cutting-edge skills for the future.

Dubbed the future DBS Tech Academy, the institute will focus on three technological disciplines to begin with – site reliability engineering, data processing and analysis, as well as application security. DBS will be evaluating more programs to cover other key technology areas later this year.

In India, Amazon Web Services improved the skills of local developers, students, and the next generation of IT managers, while the Royal Melbourne Institute of Technology has also partnered with AWS to help IT and business professionals learn about cloud computing.

Patrick Cher, an IT project manager who expects an increase this year, said there is also a growing demand for user experience experts, especially as organizations embark on engagement initiatives. digital technology, as well as project managers in the field of financial technologies (fintech).

“Fintech companies will need more project managers and developers to deploy new services in markets with digital banking regimes,” he said.

Via: www.computerweekly.com

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