When IT pays to grow old
The results are out! What results, you ask? Well, it's the answer that every working adult in Asia wants to know: Are they earning less than their peers?
That's the perennial question, isn't it? Just how much are IT professionals paid? More importantly, what is your market worth when you're stacked against your counterparts in the industry and other Asian countries?
The answers to some of those questions are unveiled this week in the latest installment of our yearly ZDNet Asia IT Salary Benchmark Survey. The response this year was overwhelming. In total, over 21,630 IT professionals across seven economies--Hong Kong, India, Indonesia, Malaysia, the Philippines, Singapore and Thailand--participated in the survey, compared to last year's 5,090.
The survey findings validated what I've always believed, that it pays to grow old! According to the poll, IT professionals who were backed by more years of experience received bigger paychecks than their younger counterparts.
In Singapore, for example, respondents with more than 10 years of experience in the industry pulled the highest overall average salary of S$96,430 (US$70,683). That's almost 40 percent more than those with between five and 10 years of experience who earned S$69,239 (US$50,752).
The survey also underscored some rationale behind why parents always tell their kids to study because respondents armed with PhDs and Master's degrees, on average, earned higher annual salaries.
Singapore respondents with PhDs pulled the highest average salary of S$96,958 (US$70,958) per annum, compared to those with Master's degrees who brought home S$79,653 (US$58,373).
While a sample size of over 21,630 respondents may not necessarily be a completely accurate reflection of Asia's workforce, which runs into the millions, I believe it serves well as an indication that the region's IT community is slowly maturing. It's also the platform that will help put emerging Asian economies on par with the rest of the world.
Check out the ZDNet Asia IT Salary Benchmark Survey and find out your market worth!