Indonesia will experience a sizable increase in growth of the digital and technology sectors next year, particularly in financial technology, potentially raising professionals’ salaries by up to 50 percent in the sectors, a new report has shown.
The Michael Page Indonesia Salary Benchmark 2020 report has found that professionals who switch jobs within the digital and technology sectors in 2020 are expected to enjoy a 15 to 50 percent increase in salaries.
This increase is largely fueled by the higher demand of various positions in the sectors, such as engineering heads, digital leads, data analysts, digital marketing managers and product managers.
Segments in financial technology, such as digital payments, have been widely utilized by Indonesian consumers and a handful of companies with e-wallet features have become very popular, such as Gopay, Ovo and Dana. The growth of the digital wallet industry will result in more job opportunities and salary increases in the future, according to the report.
“Throughout 2019, we have seen the technology industry generate a rise in demand for Big Data scientists and cybersecurity experts,” Michael Page Indonesia associate director Imeiniar Chandra said as quoted from a press statement.
Following the Indonesian general election and President Joko "Jokowi" Widodo's second Cabinet formation, business growth and investments will grow at a higher rate in 2020 compared to the previous years, according to the report.
“While the three most active hiring functions are engineering, sales and marketing, the digital and technology industries are always in search for strong engineers and product managers. This is something that all of the candidates must anticipate too," Imeiniar said.
Imeiniar also underlined the importance for Indonesian professionals to understand business dynamics and reminded the country's labor force to learn soft skills such as communication, conflict management, change management and relationship building.
"Next year, we will also witness the rise of new sectors such as agricultural technology, logistics, education and health care," Michael Page Indonesia president director Olly Riches said as quoted from the press statement.
Meanwhile, the report also shows that professionals in business and financial services as well as the retail industry are expected to enjoy a 25 percent salary increase next year.
In addition, employees in the property and construction segments are expected to experience a 20 to 35 percent salary increase next year, particularly for jobseekers with mixed civil and design experience, commercial real estate sales and Project Management Professional (PMP) certification.
Furthermore, recent European investments in renewable energy and drilling operations in Indonesia have driven up demand for fresh talents in the renewable, oil and gas sectors. Professionals working in the aforementioned segments are expected to enjoy a 10 to 15 percent salary increase in 2020.
The report also surveyed respondents on their optimism for their career prospects next year. Based on the results, 73 percent of respondents believe they will find a new job within three months, while 61 percent of respondents view themselves as enjoying better career progress next year.
“The good news is in terms of macroeconomic stability, market size and demographic profile. Indonesia is rightly embracing a wave of optimism and investment that should propel the country to new heights in the new decade," Olly said.