In the last decade, major international corporations such as Microsoft, IBM, Intel & Nokia have established large operations in Vietnam to outsource their software development. Vietnam’s young workforce – 70% of its population are under 35 – are increasingly the ones writing the code, developing the apps, or designing the websites and graphics companies around the world rely on. And it’s not just major companies that are benefiting from the talent in Vietnam. Many smaller companies are finding Vietnam is right location to find the right staff for them, whether they need a team to work temporarily on one specific project, or as a long term remote part of their day to day operations. Working with a team in Vietnam allows you the flexibility to have the tech staff you need, when you need it, from a large team to just one dedicated developer.
Let’s get real here: if you’re looking to Vietnam as location for your software development or graphic design needs, it’s not because you want a chance to explore our stunning beaches or world class cuisine. It’s not because our technical talent is better. It’s because you need customized software and a work force that can give you that at the best price possible. It’s because Vietnam can offer dedicated, flexible remote teams staffed with highly qualified, experienced developers and designers, with the same high standards of professionalism as in Singapore, but at a fraction of the cost. It’s because you want something better than you could find in Singapore – a remote team that is tailored to meet your individual needs in a way that would be cost prohibitive in a Singapore based operation.
Singapore is a global hub for the tech industry. With a culture that emphasizes the importance of education and hard work, the talent of the workforce on offer in Singapore has drawn major companies like Amazon and Facebook to establish operations there. Yet even so increasingly companies in Singapore are moving their customized software needs to Vietnam, and it’s all about the bottom line.
While the hard work and dedication of the Singaporeans has made them rich and successful, with that success Singapore has become a more expensive option for companies wanting to build a remote team.
For the last five years in a row, Singapore has consistently been ranked by Forbes magazine as the most expensive city in the world. (source: businessinsider.com), with housing costs on average the second highest in the world after Hong Kong. This high cost of living means salaries for software developers in Singapore are high, comparable with those in western countries. A software engineer in Singapore typically earns on average around SGD 7,760 per month (source: salaryexplorer.com). The average monthly wage for a software developer in Vietnam is just SGD 1,040 (source: salaryexplorer.com).
The 25th and 75th percentiles give us an idea of how salaries compare between the two. 75% of software engineers in Singapore earn more than SGD 5,130 monthly, and 25% earn over SGD 8,970, whereas in Vietnam 75% of software engineers earn more than SGD 711 monthly, yet just 25% earn over SGD 1,420.
The average monthly salary for a senior software engineer in Singapore is SGD 6,233, compared to an average of SGD 1,528 for a senior software engineer in Vietnam (source: VnExpress.net).
How is that possible?
The figures are startling. GDP per capita in Singapore is USD 64,579, in Vietnam GDP per capita is USD 2,525. Rentals in Singapore are 352% higher than in Vietnam. Groceries are 79.5% higher in Singapore than in Vietnam. Consumer prices are 52% lower in Vietnam than in Singapore. (source: numeo.com)
Why add those costs to yours? Working with a team in Vietnam will allow you to hire great staff, at a fraction of the cost.
Remote Resources company, registered in Singapore, is operating from Ho Chi Minh City, and delivering overseas staffing solutions to their clients worldwide since 2012.
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