Dear reader,
The 2024 Tech Salary Report by NodeFlair unveils intriguing insights into the evolving landscape of tech compensation in Asia. While overall tech salaries have seen a decline from the peaks of previous years, it’s crucial to contextualise this within the broader industry dynamics. The adjustments signify a shift towards a more balanced and realistic compensation structure rather than signalling a cause for alarm.
Noteworthy is the decline in salaries for software engineering roles, possibly influenced by reduced funding within the Southeast Asia tech ecosystem. The crypto winter, triggered by significant events in the blockchain industry, has impacted salaries for blockchain engineers, underlining the volatile nature of this sector.
Conversely, the notable increase in salaries for data scientists and cybersecurity engineers reflects the growing emphasis on data security and analytics capabilities.
Ethan Ang, CEO of NodeFlair, aptly highlights the industry’s talent challenges amidst the rise of generative AI and the importance of balancing financial prudence with innovation. The report’s findings also shed light on the evolving priorities of job seekers, with stability and competitive salaries taking precedence over other factors.
As the tech hiring landscape continues to evolve, the integration of AI tools in recruitment processes and the emphasis on remote hiring indicate a trajectory towards more efficient and inclusive talent acquisition practices. Overall, NodeFlair’s report underscores the multifaceted nature of tech compensation trends in Asia and the strategic imperatives guiding both employers and job seekers in this dynamic industry.
Sainul,
Editor.
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NEWS
Blockchain engineers’ salary in Asia sees 5.41% drop: report
On the other hand, data scientists are experiencing a significant 11.3 per cent increase in average salaries, indicating a deliberate investment by companies to attract and retain top talents.
SEA startups raised US$371M across 42 rounds in March: Tracxn report
With 22 deals, early-stage rounds formed the bulk of the investments in March; Indonesian insurtech startup Qoala (US$47M) raised the largest funding, followed by AwanTunai (US$27.5M) and Wagely (US$23M).
RedDoorz secures US$28.2M in funding
The investors include Asia Partners, Jungle Ventures and Mirae Asset Venture Investment; The hospitality firm claims to have achieved group cash flow positive; The company became break-even in Indonesia and the Philippines – two markets that contribute 95% to its business – in Q4 2022.
Indian audio giant boAt says it’s investigating suspected customer data breach
A sample of alleged customer data was uploaded on a known cybercrime forum, which includes full names, phone numbers, email addresses, mailing addresses and order numbers.
Byju’s-owned test prep firm AESL names ex-Pearson India head as CEO
The appointment of Deepak Mehrotra comes close on the heels of Byju’s and AESL withdrawing their merger petition in March on matters related to governance issues and share-swap arrangements; The former had acquired AESL for US$940M in 2021.
Japan’s space junk removal startup Astroscale aims for June listing
Founded by ex-government official Nobu Okada, Astroscale has won government backing in Japan, the U.S. and Britain as it develops technology to remove orbital junk such as disused satellites and spent rockets which are seen as a collision risk.
TerraPay receives licence for cross-border money transfers, e-money issuance in Singapore
The fintech firm enables payments to 144 receive countries, over 210 send countries, over 7.5B bank accounts and 2.1B mobile wallets.
B Capital onboards BCG, ex-Temasek execs to help hit net-zero goals
The investment firm, established by Facebook co-founder Eduardo Saverin, has named Rich Lesser as vice chair of climate and sustainability as well as senior advisor. It has also appointed Jeff Johnson as general partner.
FEATURES
Funding frenzy in SEA: Innovative solutions garner millions of dollars
From improving access to affordable surgeries in Thailand to harnessing biochar technology for farms in Singapore, the region’s startups are addressing critical challenges.
Fractional helps startups figure out marketing leadership with its fractional CMO service
Fractional was launched as a collective of CMOs to solve the marketing leadership gap in hypergrowth companies; The organisation curates the region’s top marketing leaders to work for companies on a fractional or part-time basis.
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Digitisation enhances operational efficiency in Food Services, nurturing stronger homegrown brands alongside a personalised human touch.
Building future sustainable business: The role of rural commerce platforms
Rural commerce platforms have emerged as transformative tools, unlocking the potential of rural economies and empowering local entrepreneurs in the process.
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Innovation hubs – the next craze for investment opportunities
Understanding the demand of the market is key for innovation hubs to attract talents and cultivate successful companies.
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How to split founder equity without splitting up
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Exit Strategies: Ways to get your money back besides IPOs and M&A
The pickup in IPOs and M&A deals in the region bodes well for the possibility of high-value exits for investors.
Understanding the traction metrics that investors are looking for in an early-stage startup
Different investors might consider different traction metrics, depending on the verticals that the startup is working on.
7 principles of intelligent personalisation
Basic personalisation is failing to engage; tactics that centre on relevance rather than demographics are much more effective.
The coworking experience is not just about space but more about community
Coworking spaces are pushing the boundaries of traditional office spaces, embodying the perfect representation of the modern world.
How to write a PR pitch for your white paper
Your pitch serves as a good, plainly-worded summary that makes your white paper’s news value crystal clear; Get it ready weeks before your white paper’s release date; Busy media people like advance notice.
4 key points to consider when scaling in Southeast Asia
Southeast Asia is not uniform but is a region with distinct user bases which imposes a challenge for tech companies who want to scale up.
5 ways to monetise social media technology for startup success
Startups launching into the digital landscape need to use social media to promote and grow their businesses passionately.
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The post Ecosystem Roundup: Blockchain engineers’ salaries decline in 2024 | RedDoorz raises US$28.2M | Customer data breach at Indian audio giant boAt appeared first on e27.