SG-based startup CEOs earn more than SEA counterparts: report

Singaporean CEOs of startups in the $11m-$50m funding stage earn 3.1x more.

Startup CEOs based in Singapore earn more than their counterparts in Southeast Asia, data from  Glints and Monk’s Hill Ventures (MHV) revealed.

In their “Southeast Asia Startup Talent Trends Report 2024,” Glints and MHV reported that there had been a significant increase in the compensation gap between Singapore-based and non-Singapore-based CEOs of startups at the $11m-$50m funding stage.

Singaporean CEOs of startups in the $11m-$50m funding stage now earn 3.1x more, up from the 2.1x gap in the last analysis.

The base monthly salary of Singapore-based CEOs of startups at the $11m-$50m funding stage ranges from US$19,000-US$20,000, whilst non-SG-based CEOs earn US$5,700-US$6,700.

At the $0m-$5m funding stage, Singapore-based CEOs earn approximately 1.7x more than their counterparts outside Singapore. The base monthly salary for SG and non-SG-based CEOs for startups at the $0m-$5m funding stage ranges from US$6,300-US$7,500 and US$3,500-US$4,500, respectively.

Meanwhile, Singaporean CEOs of startups at the $6M-10M funding stage earn 1.4x more.
For comparison, the base monthly salary of SG CEOs ranges from US$7,300-US$8,300, whilst non-SG-based CEOs earn US$5,000-US$6,300.

Generally, startup salaries dampened in 2023. In Singapore, whilst market salaries are growing, it is moving slower due to greater demand for mid and senior talent than supply available.

Overall, startup salaries increased by 5% in Singapore. 

For senior roles, salaries increased 5%. Meanwhile, junior and mid-level salaries rose 3% and 8%, respectively.