Grab, Revolut, Wise: big fintechs compete for talent in Singapore

Posted by PSR_AXP 2 mths ago
Large fintech companies are ramping up their Singapore expansion plans, adding to the arms race to hire technologists and other roles relating to the digital economy. Recruitment experts say the growth adds more fuel to Singapore’s already heated tech scene and may lead to a shortage of staff needed to fulfil the development of mobile banking, insurance and trading services.
“There is an extreme shortage of candidates and we are seeing higher salary increases than what we would have seen pre-pandemic,” says Michael Nette, managing director of recruitment firm Ambition in Singapore.
Underscoring the competitive environment, Nette says tech workers jumping ship to join rival fintech firms are able to negotiate salary increases of 30% to 40%, compared to around 15% to 20% in 2020. “There is not enough talent to go around,” Nette says, adding that blockchain developers with expertise in smart contracts are highly sought after.

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