Vietnam startup CEOs earn less than Indonesian, Singaporean peers

1 min readApr 5, 20216:38 AM

In this article (5)

The CEOs of early startups earn a median salary of $1,000 per month, lower than those in Indonesia and Singapore, a recent report says.

A startup in the $0–5 million funding stage pays its CEO $2,000 a month in Indonesia and $4,000 in Singapore, according to a recent report by Southeast Asia-focused venture capital firm Monk’s Hill Ventures and Asia-Pacific jobs site Glints.

For startups in the $10-50 million funding stage, CEOs in Vietnam get paid $6,000, compared to $11,500 in Singapore.

But vice presidents engineering in Vietnam startups in the Series B stage earn up to $10,000 a month, same as in Singapore, while the monthly remuneration in Indonesia is $7,100.

Due to an oversupply of fresh graduate junior engineers in markets such as Indonesia and Vietnam, starting salaries can be low; however, they quickly grow with a few years of experience to the $700–1,200 range.

Engineers in Vietnam typically earn higher salaries than those in Indonesia but lower than their Singapore peers, the report says.

A senior frontend developer, for example, earns up to $2,800 in Indonesia, $3,500 in Vietnam and $9,500 in Singapore.

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What this means

The disparity in CEO salaries positions Vietnam as a cost-effective market for early-stage startup investment, potentially drawing capital away from higher-paying markets like Singapore and Indonesia. This could pressure regional venture capital firms to reassess their investment allocation strategies, especially for seed and Series A rounds. However, the rapidly appreciating engineering salaries, particularly for senior roles matching Singaporean levels, suggests that this cost advantage may be fleeting. Unlike Panpuri's Asian expansion or Tiffany's new store, this is a talent and cost play. The risk lies in overlooking escalating talent costs that could quickly negate initial savings. Monitor the next salary report to gauge engineering remuneration growth rates.

Rajiv Menon

Questions & Answers

How much less do Vietnamese startup CEOs earn compared to their counterparts in Indonesia and Singapore for similar funding stages?

For startups with $0-5 million in funding, Vietnamese CEOs earn $1,000 per month, which is $1,000 less than Indonesian CEOs and $3,000 less than Singaporean CEOs. At the $10-50 million funding stage, Vietnamese CEOs earn $5,500 less than those in Singapore.

Do all roles in Vietnamese startups show a significant salary gap compared to Singapore?

No, not all roles show a significant gap. Vice presidents of engineering in Series B Vietnamese startups earn up to $10,000 a month, which is the same as their peers in Singapore.

What is the salary range for junior engineers in Indonesia and Vietnam after a few years of experience?

After a few years of experience, junior engineers in markets such as Indonesia and Vietnam can quickly see their starting salaries grow to the $700-1,200 range. Initial starting salaries for fresh graduates can be low due to oversupply.

How do a senior frontend developer's earnings in Vietnam compare to those in Indonesia and Singapore?

A senior frontend developer in Vietnam earns up to $3,500. This is higher than the $2,800 earned in Indonesia but significantly lower than the $9,500 earned by their counterparts in Singapore.

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