With an intense focus on profitability, there has been a rise in salaries for sales and business development roles in Southeast Asia, according to a report.
The report by Singapore’s staffing firm Glints and venture capital Monk's Hill Ventures says that average salaries for business development and sales positions grew by 2 per cent in 2023 from the previous year.
With an intense focus on profitability, there has been a rise in salaries for sales and business development roles in Southeast Asia, according to a report.
The report by Singapore’s staffing firm Glints and venture capital Monk's Hill Ventures says that average salaries for business development and sales positions grew by 2 per cent in 2023 from the previous year, higher than the average salary for four other critical roles: engineering, marketing, data, and product development.
The role of sales and business development are “critical for generating revenue and building key partnerships,” says the report. This becomes important for start-ups that are navigating the financial pressures.
Interestingly, the salary for engineering saw a 2 per cent decline last year. Cost cutting measures and tech layoffs severely impacted junior tech roles across the region, says the report titled “SouthEast Asia Startup Talent Trends Report 2024.”
However, demand for senior tech roles saw a 2-3 per cent YoY increase. This is because currently, companies are more focused on refining a few offerings, than expanding the product line.
The dominance of AI
Artificial Intelligence has become an integral part of most start-ups. Although still in early ages, “AI adoption is poised to transform the industry,” says the report. With the emergence of an AI-driven landscape, start-up founders prefer employees proficient in AI tools.
The report analysed more than 10,000 data points for non-tech and tech start up roles. It followed a qualitative survey with 72 start-ups based out of Singapore, Taiwan, Vietnam and Indonesia.