In its second iteration, the report provides an in-depth analysis of hiring trends, salaries and equity data for founders, C-suite executives and startup talent from 10,000 data points and through 30 interviews with startup founders in Indonesia, Singapore and Vietnam.

The report found that Indonesian startups prefer to invest in revenue-generating roles such as sales, business development, marketing and PR divisions as companies set the main focus on achieving profitability in 2023. In addition, salaries continue to increase, though the growth rate will be much lower than in previous years, from 30 percent to 5 to 7 percent per year.

The core findings of the report include a number of highlights:

1. The tech talent crisis continues in Indonesia, where demand for tech talent remains strong. Earnings on average are 38 percent higher than other non-tech positions.
2. The top three functions prioritized by Indonesian companies for recruitment in 2023 are software engineering, business development, as well as sales and marketing & PR.
3. Mobile developer remains the most sought-after position.
4. Specific skills such as product and data are also of great interest to employers.
5. Apart from mobile developers, engineering and backend developer positions also receive the highest income.
6. The average salary for data positions has increased by 22 percent over the past year.
7. Basic salary in cash is still more desirable than equity in Asia. While 86 percent of companies surveyed offer ESOPs (employee share ownership plans), the average ESOP is only available to a third of their talents.
8. More CEOs are taking greater equity dilution, most likely due to the current economic uncertainty. The report sees a 5 percent decline in equity for CEOs at the US$ 5 to $10 million funding stage compared to 2021.
9. Product manager is the position with the biggest salary increase, which is 27 percent higher than in 2021.
10. Hybrid work systems are becoming the status quo, with 59 percent of startups offering hybrid work and 8 percent offering remote work options to employees in Indonesia.
11. The salary range for VP of data or head of data in Indonesia may be 11 percent higher than for other technology roles, with monthly salaries ranging from $ 2,500 to $ 6,100.

Glints and Monk's Hill Ventures utilized the 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 benchmark for professionals to see their position in the market.

“Despite the recent tech layoffs, there are still opportunities for more traditional industry players as they have a thirst 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 Sutanto, cofounder and country manager of Glints Indonesia.

Susli Lie, partner at Monk's Hill Ventures, believes that the potential for technology-based businesses in Indonesia remains high despite the current economic situation facing global challenges. 

“However, 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 talent, Indonesia is ready to play a bigger role in developing talent in the technology industry," she said. 

The Southeast Asia Startup Talent Report 2023 is expected to guide industry players and job seekers in determining the right career and income. Glints and Monk's Hill Ventures are committed to supporting professionals in their career development and helping early-stage technology companies improve the standard and quality of life for millions of people in the Asian region.

To download a copy of the report, click here.

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