{"id":5559,"date":"2020-11-25T08:00:41","date_gmt":"2020-11-25T00:00:41","guid":{"rendered":"https:\/\/dollarsandsense.sg\/business\/?p=5559"},"modified":"2021-03-16T16:39:48","modified_gmt":"2021-03-16T08:39:48","slug":"5-things-singapores-tech-sector-mom-jobs-situation-report-14th-edition","status":"publish","type":"post","link":"https:\/\/dollarsandsense.sg\/business\/5-things-singapores-tech-sector-mom-jobs-situation-report-14th-edition\/","title":{"rendered":"5 Things To Know About Singapore\u2019s Tech Sector: MOM\u2019s Jobs Situation Report 14th Edition"},"content":{"rendered":"\n<p>It\u2019s no surprise that the tech sector has managed to gain a stronger foothold in a world plagued by stringent lockdowns globally, social distancing requirements and restricted travel.<\/p>\n\n\n\n<p>Everything has been forced to go online in 2020, from work meetings and networking events to buying groceries, educating our children and even visiting the doctor. While most businesses adjust to the new norms in the working world or struggle to survive, the tech sector has experienced a boom.<\/p>\n\n\n\n<p><strong><em>Read Also:&nbsp;<\/em><\/strong><strong><em><a href=\"https:\/\/dollarsandsense.sg\/business\/5-business-sectors-offering-the-most-job-openings-in-singapore-during-covid-19-period\/\">5 Business Sectors Offering The Most Job Openings In Singapore During COVID-19 Period<\/a><\/em><\/strong><strong><em><\/em><\/strong><\/p>\n\n\n\n<p>Against this backdrop, the Ministry of Manpower (MOM) featured the tech sector in its 14<sup>th<\/sup>&nbsp;Jobs Situation Report \u2013 reporting that it is \u201cby far, the sector with the highest placements under the SGUnited Jobs &amp; Skills Package\u201d. Given the tailwinds for the sector, companies are also more likely to be in the hiring than retrenching.<\/p>\n\n\n\n<p>Here are 5 things we should know about Singapore\u2019s tech sector.<\/p>\n\n\n\n<h3 id=\"1-71-of-190200-employed-in-singapores-tech-sector-are-locals\"><strong>#1 71% of 190,200 Employed In Singapore\u2019s Tech Sector Are Locals<\/strong><\/h3>\n\n\n\n<p>Since 2015, local employment in Singapore\u2019s tech sector has expanded by 17,000 roles or an average of 3,400 roles a year.<\/p>\n\n\n\n<p>According to MOM\u2019s 14<sup>th<\/sup>&nbsp;Jobs Situation Report, a total of 190,200 people are employed in Singapore\u2019s infocomm technology sector. Locals are hired in 71% of these roles. This does not include tech roles in other sectors.<\/p>\n\n\n\n<p>With a healthy number of locals, complemented by skillful foreigners, Singapore\u2019s tech sector is poised for better growth.<\/p>\n\n\n\n<p><strong><em>Read Also:&nbsp;<\/em><\/strong><strong><em><a href=\"https:\/\/dollarsandsense.sg\/business\/tech-pass-top-global-tech-talent-differs-from-entrepass-employment-pass\/\">Tech.Pass For Top Global Tech Talent: How It Differs From EntrePass And Employment Pass<\/a><\/em><\/strong><strong><em><\/em><\/strong><\/p>\n\n\n\n<h3 id=\"2-7000-jobseekers-placed-into-roles-in-tech-sector-since-april\"><strong>#2 7,000 Jobseekers Placed Into roles In Tech Sector Since April&nbsp;<\/strong><\/h3>\n\n\n\n<p>Between April to early November, 7,000 jobseekers have been placed into jobs, company-hosted traineeships and attachments and training places in the tech sector.<\/p>\n\n\n\n<p>While it\u2019s no surprise that there is demand to fill job roles in the tech sector, even as other sectors struggle, the tech sector has filled the most number of roles under the SGUnited Jobs &amp; Skills Package.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img loading=\"lazy\" width=\"1024\" height=\"583\" src=\"https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/SGUnited-jobs-skills-package-tech-sector-1024x583.png\" alt=\"\" class=\"wp-image-5562\" srcset=\"https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/SGUnited-jobs-skills-package-tech-sector-1024x583.png 1024w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/SGUnited-jobs-skills-package-tech-sector-300x171.png 300w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/SGUnited-jobs-skills-package-tech-sector-768x437.png 768w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/SGUnited-jobs-skills-package-tech-sector-380x216.png 380w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/SGUnited-jobs-skills-package-tech-sector-800x456.png 800w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/SGUnited-jobs-skills-package-tech-sector-1160x661.png 1160w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/SGUnited-jobs-skills-package-tech-sector.png 2588w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Source: MOM\u2019s Jobs Situation Report 14<sup>th\u00a0<\/sup>Edition<\/figcaption><\/figure><\/div>\n\n\n\n<p>As you can also see from the chart above, a vast majority were for PMET roles.<\/p>\n\n\n\n<p><strong><em>Read Also:&nbsp;<\/em><\/strong><strong><em><a href=\"https:\/\/dollarsandsense.sg\/business\/10-editions-of-mom-jobs-situation-report-10-things-weve-learned\/\">10 Editions Of MOM\u2019s Jobs Situation Report: 10 Things We\u2019ve Learned<\/a><\/em><\/strong><strong><em><\/em><\/strong><\/p>\n\n\n\n<h3 id=\"3-a-further-12000-more-job-openings-still-open-in-the-tech-sector-offering-good-salary\"><strong>#3 A Further 12,000 More Job Openings Still Open In the Tech Sector, Offering Good Salary<\/strong><\/h3>\n\n\n\n<p>The tech sector also has a further 12,000 job openings on top of already placing the highest number of people into new roles. These are also for good jobs paying good salaries.<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img loading=\"lazy\" width=\"1024\" height=\"570\" src=\"https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Tech-sector-job-salary-1-1024x570.png\" alt=\"\" class=\"wp-image-5561\" srcset=\"https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Tech-sector-job-salary-1-1024x570.png 1024w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Tech-sector-job-salary-1-300x167.png 300w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Tech-sector-job-salary-1-768x428.png 768w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Tech-sector-job-salary-1-380x212.png 380w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Tech-sector-job-salary-1-800x446.png 800w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Tech-sector-job-salary-1-1160x646.png 1160w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Tech-sector-job-salary-1.png 2672w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Source: MOM\u2019s Jobs Situation Report 14<sup>th\u00a0<\/sup>Edition<\/figcaption><\/figure><\/div>\n\n\n\n<p>As you can see the salary range for the job openings range from $3,750 to $7,500. The 5<sup>th<\/sup>&nbsp;percentile pay is typically also above Singapore\u2019s median salary (of about $3,900) in 2019.<\/p>\n\n\n\n<h3 id=\"4-30-of-job-openings-in-tech-sector-are-for-tech-lite-roles\"><strong>#4 30% Of Job Openings In Tech Sector Are For \u201cTech-Lite\u201d Roles<\/strong><\/h3>\n\n\n\n<p>Sure, some of the better paid roles are in management and business consultant as well as software, web and multimedia development.&nbsp;<\/p>\n\n\n\n<p>But tech companies don\u2019t just require employees trained in tech, they need people in sales, marketing, business development to complement their tech-savvy talent. About 30% of the job openings are in these \u201ctech-lite\u201d roles.<\/p>\n\n\n\n<p>In addition to the \u201ctech-lite\u201d role, tech companies would require people in other functions that serve all other companies as well, including finance, HR, administrative roles and others.<\/p>\n\n\n\n<h3 id=\"5-skills-that-can-be-acquired-for-jobs-in-the-tech-sector\"><strong>#5 Skills That Can Be Acquired For Jobs In The Tech Sector<\/strong><\/h3>\n\n\n\n<p>To get those looking for jobs equipped to enter tech roles, there were also examples of skills that jobseekers can acquire to enhance their career prospects. We\u2019re assuming the transferrable skills are meant more for role that are \u201ctech-lite\u201d, with the more technical skills those in demand in the tech-centric roles.\u00a0<\/p>\n\n\n\n<div class=\"wp-block-image\"><figure class=\"aligncenter\"><img loading=\"lazy\" width=\"1024\" height=\"371\" src=\"https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Skills-required-for-tech-roles-in-Singapore-1024x371.png\" alt=\"\" class=\"wp-image-5563\" srcset=\"https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Skills-required-for-tech-roles-in-Singapore-1024x371.png 1024w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Skills-required-for-tech-roles-in-Singapore-300x109.png 300w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Skills-required-for-tech-roles-in-Singapore-768x278.png 768w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Skills-required-for-tech-roles-in-Singapore-380x138.png 380w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Skills-required-for-tech-roles-in-Singapore-800x290.png 800w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Skills-required-for-tech-roles-in-Singapore-1160x421.png 1160w, https:\/\/dollarsandsense.sg\/business\/wp-content\/uploads\/2020\/11\/Skills-required-for-tech-roles-in-Singapore.png 2102w\" sizes=\"(max-width: 1024px) 100vw, 1024px\" \/><figcaption>Source: MOM\u2019s Jobs Situation Report 14<sup>th\u00a0<\/sup>Edition<\/figcaption><\/figure><\/div>\n\n\n\n<p>Many of the skills listed under transferrable skills would also be similar skills that those working in other industries would have to be adept in. The column on the right is also important for those who are looking to fill \u201ctech-lite\u201d roles. Jobseekers who can equip themselves with those skills or have started some training in a skill would have an edge during interviews.<\/p>\n\n\n\n<p><strong><em>Read Also:&nbsp;<\/em><\/strong><strong><em><a href=\"https:\/\/dollarsandsense.sg\/business\/top-6-transferrable-skills-employers-are-looking-for-according-to-mom\/\">Top 6 Transferrable Skills Employers Are Looking For, According To MOM<\/a><\/em><\/strong><strong><em><\/em><\/strong><\/p>\n\n\n\n<h3 id=\"tapping-on-the-governments-3-pronged-approach-to-connect-businesses-to-employees\"><strong>Tapping On The Government\u2019s 3-pronged Approach To Connect Businesses To Employees<\/strong><\/h3>\n\n\n\n<p>The government isn\u2019t leaving it up to market forces to marry jobseekers to employers in the tech sector (or any other sectors). Their 3-pronged approach includes:<\/p>\n\n\n\n<h3 id=\"i-place-and-train-programmes\"><strong>#i Place-And-Train Programmes<\/strong><\/h3>\n\n\n\n<p><a href=\"https:\/\/www.imda.gov.sg\/imtalent\/about-us\/National-Talent-Development-Initiatives\/techskills-accelerator--tesa\">TechSkills Accelerator or TeSA<\/a>, co-led by the Infocomm Media Development Authority (IMDA), SkillsFutre Singapore (SSG) and Workforce Singapore (WSG), is an initiative to help Singaporeans gain employment and enhance employability in the tech sector through place-and-train programmes.<\/p>\n\n\n\n<p>Since 2016, TeSA has placed 6,600 locals into tech sector jobs through its placement programmes. Such programmes include 1) Company-Led Training (CLT), 2) TeSA Mid-Career Advance (TMCA), 3)&nbsp;<a href=\"https:\/\/dollarsandsense.sg\/business\/how-singapore-companies-tap-on-professional-conversion-programme-pcp-to-reskill-employees\/\">Professional Conversion Programme (PCP)<\/a>, and 4) Tech Immersion and Placement Programme (TIPP).<\/p>\n\n\n\n<p><strong><em>Read Also:&nbsp;<\/em><\/strong><strong><em><a href=\"https:\/\/dollarsandsense.sg\/business\/how-singapore-companies-tap-on-professional-conversion-programme-pcp-to-reskill-employees\/\">Here\u2019s How Singapore Companies Can Tap On The Professional Conversion Programme (PCP) To Reskill Your Employees<\/a><\/em><\/strong><strong><em><\/em><\/strong><\/p>\n\n\n\n<p>TeSA has already worked with IBM to train 300 Singaporeans over the next four years. More opportunities have been announced with Google and SEA as well. These are reportedly for roles in Digital Consultant, Cloud Architect, Data Scientist, UX Designer, Software Development, Cybersecurity and AI.<\/p>\n\n\n\n<h3 id=\"ii-sgunited-jobs-skills-package\"><strong>#ii SGUnited Jobs &amp; Skills Package<\/strong><\/h3>\n\n\n\n<p>Under the SGUnited Jobs &amp; Skills package, jobseekers can embark on SGUnited Traineeships (for those who graduated in 2019 and 2020) and SGUnited Mid-Career Pathways for other jobseekers.<\/p>\n\n\n\n<h3 id=\"iii-nurturing-talent-pipeline-in-institutes-of-higher-learning\"><strong>#iii Nurturing Talent Pipeline In Institutes of Higher Learning<\/strong><\/h3>\n\n\n\n<p>For Singapore\u2019s tech sector to remain competitive and reduce any over-reliance on foreigners to grow the sector, we need to train our own talent.&nbsp;<\/p>\n\n\n\n<p>Hearteningly, intake for courses related to tech sectors have grown 17% over the past 3 years, and future cohorts coming out of tertiary education should have increasingly relevant advanced skills to contribute to the tech sector.<\/p>\n\n\n\n<p>Existing curriculum is also being reviewed by TeSA to promote in-demand tech skills in software development, AI, data analytics, cybersecurity, IoT and cloud computing.<\/p>\n\n\n\n<p><strong><em>Read Also:&nbsp;<\/em><\/strong><strong><em><a href=\"https:\/\/dollarsandsense.sg\/business\/why-2020-good-year-expand-team-prepared-embrace-challenge\/\">Why 2020 Is A Good Year To Be Expanding Your Team, If You Are Prepared To Embrace The Challenge<\/a><\/em><\/strong><strong><em><\/em><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"One of the few sectors that has come out of COVID-19 stronger.\n","protected":false},"author":10,"featured_media":5566,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[364],"tags":[115,470,374,343,367,366,248,564],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v16.3 - 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