Glints and Monk’s Hill Ventures published the Southeast Asia Startup Talent Report 2023 to reveal hiring trends, salaries, and equity data for startup talents.
Heaptalk, Jakarta — A Singapore-based career development platform, Glints, partnered with a venture capital firm, Monk’s Hill Ventures (MHV), in releasing their second edition of the Southeast Asia Startup Talent Report. This publication contains in-depth analyzes of hiring trends, salaries, and equity data for founders, C-suite executives, and startup talents.
The Southeast Asia Startup Talent Report 2023 reveals that Indonesian startups prefer to invest in revenue-generating roles, spanning sales, business development, and marketing and PR. These findings can be attributed to the main focus of startups in 2023 to achieve profitability.
However, Indonesian companies tend to prioritize three functions when recruiting in 2023, including software engineering, business development, as well as sales and marketing & PR. Meanwhile, the mobile developer is still the most in-demand job.
Surprisingly, this report also unveils that the tech talent crisis will continue in Indonesia as demand remains strong with average earnings 38% higher than other non-tech positions. In addition, salaries continue to increase but the growth rate will be much lower than in previous years, from 30% to 5-7% per year. Mobile developer positions as well as backend engineers and developers earn the highest revenue.
Growing a business with a focus on profitability
According to Co-Founder and Country Manager of Glints Indonesia, Steve Susanto, traditional industry players still have opportunities to grow regardless of the recent technology layoffs. This is possible as they are hungry for talent.
“For startups, there may be some challenges, but now is the right time to start and grow a business with a focus on profitability,” said Steve.
Meanwhile, a Partner at Monk’s Hill Ventures, Susli Lie, is optimistic that the potential for technology-based businesses in Indonesia remains high despite the current economic situation facing global challenges.
“However, in essence, companies will still need experts to build technology products, as well as sales and marketing teams who can then market these products. Supported by increasingly skilled young talents, Indonesia is ready to play a bigger role in developing talent in the technology industry,” said Susli.
The Southeast Asia Startup Talent Report 2023 is the result of processing 10,000 data points for technology startup roles and 30 interviews with startup founders in three SEA countries namely Singapore, Indonesia, and Vietnam. This research also engaged founders in Thailand, Malaysia, and the Philippines to provide additional perspectives.
Glints and Monk’s Hill Ventures utilize this report to measure professional interest and average income level, which can serve as a reference for current job seekers. Likewise, income comparisons can be a useful yardstick for professionals to see their position in the market.
