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Virtually every business is now utilizing blockchain technology, which forms the basis for most cryptocurrencies. Public ledgers, real estate, airlines, and cloud storage providers are just some of the industries adopting the blockchain for its security and openness.
According to PWC, 82% of Singaporean executives polled are already working on blockchain projects. In addition, one-fifth of them have launched their projects into the market.
This article explores the intriguing topic of “Blockchain Developers Get Paid in Singapore,” providing insight into the reality of blockchain developers’ pay in this dynamic state.
Is blockchain in demand in Singapore?
Yes, blockchain is in high demand in Singapore. For the past decade or so, blockchain has been attracting worldwide attention for its potential to revolutionize established markets like the financial and healthcare sectors.
Those with the necessary expertise can choose from a wide variety of rewarding careers in this sector. As more businesses implement blockchain technology, the need for skilled blockchain developers will increase.
There is a massive demand for blockchain expertise because so many people are looking for assistance with their businesses. Some of Asia’s largest corporations are opening research and development centers to investigate how they might best utilize blockchain technology.
The only way to achieve success in this industry is to stay informed of changes and refine your expertise accordingly.
What Is Blockchain Development?
The process of building and managing a blockchain platform is called blockchain development. In order to develop and maintain blockchain-based applications and services like digital currencies, smart contracts, and distributed apps, the necessary infrastructure must first be established. The process also includes making the supplementary software and hardware for the platform.
A blockchain application is any software or platform that takes advantage of a blockchain’s properties, such as immutability, decentralization, and security. A solid understanding of the underlying technology is essential for the development of a blockchain. It also needs a severe dedication to safety and scalability. Building a blockchain platform is a complex process that calls for a lot of time, energy, and knowledge.
Average salary for blockchain developers in Singapore
The average annual pay for a Blockchain Developer in Singapore is around 83,400 SGD, ranging from an annual average wage of about 42,960 SGD to an average yearly salary of about 124,400 SGD.
|Average Annual Salary||83,400 SGD|
|Average Monthly Salary||6,950 SGD|
|Lowest Annual Salary||42,960 SGD|
|Lowest Monthly Salary||3,580 SGD|
|Highest Annual Salary||124,400 SGD|
|Highest Monthly Salary||10,366 SGD|
These are typical wages for a Blockchain Developer in Singapore, and they come with benefits like free housing and public transportation. The average earnings shown above are only a guideline, and a Blockchain Developer may make more or less than this.
Blockchain Developer salaries vary greatly depending on your experience, region, skills, and gender. If you want to learn more about these topics, keep reading!
Distribution of Blockchain Developer Salaries in Singapore
We looked at Singapore’s average Blockchain Developer salary. Another critical data point is salary distribution.
Typical salaries for Blockchain Developers in Singapore range from $42,960 to $124,400 annually. In statistics, we call this the “range.”
Both employers and employees can use the difference between the maximum and minimum pay to establish fair compensation expectations.
The median salary
In Singapore, a Blockchain Developer can expect a median annual income of SGD 74,300. The median salary falls just in the middle of the range. This means that around half of the population earns less than SGD 74,300 per year, while the other half earns more.
You are probably doing well if you make more than the median salary. Your goal is to earn as much as the median wage (which you can do by asking for a raise, looking for a better-paying job, etc.) if you’re not already doing so.
Percentiles are comparable to the median pay, but they focus on the top and bottom quartiles of the distribution rather than the middle quartile. In Singapore, 25% of Blockchain Developers make less than 53,160 SGD annually, while 75% make more annually.
Seventy-five percent make less than 91,520 SGD yearly, while twenty-five percent make more. If you want to know where your salary stands with the 25th and 75th percentiles and the median, you can use these numbers to calculate which quartile you’re in and, thus, whether or not your compensation is competitive.
Singapore Blockchain Developer Salary by Experience Level
After your job title, the number of years of experience you have is the most important thing that determines your pay. One would expect a more significant salary due to increased years of experience.
We looked into how blockchain developers’ median salary changed after working there for a few years to give you an idea of what to expect.
- 0 – 2 years of experience: With less than two years of experience, a Blockchain Developer in Singapore can expect to make around 50,560 SGD annually.
- 2 to 5 years of experience: The average compensation for a Blockchain Developer with two to five years of experience is 66,940 SGD.
- 5 to 10 years of experience: The median compensation for a Blockchain Developer with 5–10 years of experience is 87,000 SGD.
- 10 to 15 years of experience: With more than ten years in the field, the average compensation rises to about 102,460 Singapore dollars per year.
- 15 to 20 years of experience: With 15–20 years of experience, a Blockchain Developer can expect an average salary of 112,660 SGD a year.
- Over 20 years of experience: With more than 20 years of experience, a Blockchain Developer can expect an average salary of 119,860 SGD per year.
Blockchain Developer Salary by Education Level in Singapore
Your education level and work experience heavily influence your potential salary. Many high-paying jobs now necessitate advanced degrees, but how much does that increase wages, on average?
The money you can make with your degree depends on factors like where you live and what you do for a living.
We examined the average wage for a Blockchain Developer in Singapore depending on employee education to determine if a higher education level would improve pay.
- Diploma or Certificate: With a diploma or certificate in hand, a Blockchain Developer in Singapore can expect an average salary of 66,940 SGD annually.
- Bachelor’s Degree: With a bachelor’s degree, a Blockchain Developer in Singapore can expect an average annual salary of 87,000 SGD.
- Master’s Degree: With a master’s degree, a Blockchain Developer in Singapore can expect an average salary of 118,060 SGD per year.
Blockchain Developer Salary Compared by Gender
In this day and age, we are all aware that there must never be a difference in wages between men and women. There is still a large pay gap between men and women who do the same work in many fields.
A male blockchain developer in Singapore earns an average of 85,020 SGD, while a female blockchain developer earns roughly 80,840 SGD.
Blockchain Developer Average Pay Raise in Singapore
Employees are often rewarded with a salary boost once a year in numerous countries as a gesture of appreciation for their dedication and hard work.
Every 15 months, workers in Singapore receive a salary increase that averages about 9 percent.
We can observe that the period between average salary raises is longer than the standard 12 months in this scenario.
For better context, we may use a straightforward method to estimate the potential yearly salary increase:
Annual Increase = ( Increase Rate ÷ Months ) × 12
So, in this case, it would look like this:
Annual Increase = ( 12 ÷ 17 ) × 12 = 8%
Therefore, a Blockchain Developer in Singapore may anticipate an annual salary increase of almost 8%.
1. How much does a Web3 Developer make in Singapore?
A web3 developer in Singapore can expect to make anywhere from SGD$8,000 to SGD$15,000. However, this number can change from $6,000 to $20,000 based on the developer’s expertise and experience.
2. Does blockchain pay well?
3. Is blockchain developer a safe career?
Given the great demand for blockchain developers, the rich compensation, the chances for ongoing education, and the possibility of making meaningful contributions to technological progress, becoming a blockchain developer can be a highly satisfying career path.
4. What is the basic salary of web developer in Singapore?
Web Developers in Singapore earn $8,300 a month on average. A Singapore Web Developer’s average additional cash compensation is $4,800, ranging from $3,250 to $9,000. The estimates are based on 205 anonymous Glassdoor Web Developer salaries in Singapore.
5. Which country is best in Blockchain?
Singapore leads blockchain adoption, with the government spending extensively on blockchain research and development. Many blockchain companies have incorporated in Singapore due to its favourable regulatory atmosphere for initial coin offers (ICOs).