“Despite a sluggish job market, tech talent in the financial industry is in such demand that many candidates receive multiple job offers and are offered salary increments… Demand surged with COVID-19 and various technology transformation projects, but tech was already an area of supply-demand mismatch before the pandemic.
Not only are banks digitalising many of their functions, the fintech sector is also rapidly expanding with the launch of virtual banks, scaling up of e-commerce platforms and the rise of cryptocurrency platforms… And firms are not just looking for developers or engineers, they are increasingly sourcing for people with a combination of skills.
With a shortage of workers who have both technical and functional business knowledge, firms are competing for the same talent and driving up salaries.
A quarter of the jobs on offer are in technology roles, and many of the tech skills required are in short supply in Singapore.”
