As technology continues to shape and revolutionize various industries, the demand for skilled software engineers only continues to grow. But what kind of salary can one expect as a software engineer?
This blog post will provide key information about the software engineer salary that you can own based on different factors. Let’s discover now!
Table of Contents
Software Engineer Salary
Depending on the region, career level, specialty, and experience, software engineers can average up to 2 million PHP a year. Additionally, many experts receive benefits such as bonuses and perks that further add to their total salary. To learn more, please scroll down!
Base Salary
Software engineers in the Philippines are highly valued and well-paid professionals. The base salary is around PHP 250,000 per year, depending on the company and the engineer’s experience. They are typically expected to have a degree in computer science or a related field and a minimum of one year of experience.
Some employers may also require a certification in a specific programming language or software development methodology. The base wage will likely increase as the need for these professionals continues to rise.
With the right qualifications and skills, they can look forward to a rewarding career.
Additional Benefits
In the Philippines, software engineers often receive various bonuses in addition to their base salary.
Company Performance Bonuses are becoming increasingly popular as businesses realize the need to incentivize, retain their top software talent, and encourage them to work more productively and creatively.
They are based on some criteria, including overall company performance, the individual engineer’s contributions, and even the engineer’s satisfaction with their job.
Individual Performance-Based Bonuses – These bonuses are awarded based on an individual’s job performance, skills, and productivity. The employees often go above and beyond their job responsibilities and significantly contribute to the company.
Holiday/End of Year Bonuses – These prizes are usually given to employees to show appreciation for their hard work and loyalty during the year. This type is generally given around Christmas time. Besides, the end-of-year bonus is given at the end of the year to coincide with the end of the company’s financial year.
Goal-Based Bonuses – This type of reward aims to appreciate employees who achieve specific goals and objectives the company or the employee’s supervisor sets. The objectives can range from individual projects to team goals and motivate employees to strive for excellence in their work.
See also: Employee Benefits Philippines Guide
Factors Affecting Software Engineer Salary
Education
A software engineer’s level of education is one factor that impacts their earnings. According to research, those with bachelor’s degrees earn an average of 18% more than those without.
Furthermore, holding a master’s degree can add an additional 10-15% bonus to your earnings. For example, a software engineer with a bachelor’s degree could earn around 39,200 PHP. In comparison, someone with a master’s degree could make approximately 65,800 PHP.
Experience
A software engineer’s salary is strongly related to the length of time they have been in the industry. Data shows that employees with 5-10 years of experience typically earn around PHP 52,700 per month, 22% more than those with less than that.
Those with 10-15 years of experience get paid PHP 57,500 per month on average, which is 9% more than before. And engineers who have been in the field for over 20 years can make PHP 62,200 each month, or 8% more than the previous level.
Location
Location can also impact the salary of a software engineer in the Philippines. Cities with a higher cost of living, such as Manila, typically offer higher wages to this role to compensate for the higher living expenses. On the other hand, smaller cities and rural areas may offer lower wages due to the lower need for this position.
Company Size
Company size refers to the number of employees that work for a particular company. Generally, larger companies tend to offer higher salaries and more benefits than smaller ones.
This is because larger firms have more resources and often have a higher demand for software engineers, allowing them to offer higher salaries to attract and retain talent.
Skills And Technologies
Skills and technologies refer to what a software engineer knows and can do with technology. This can include programming languages, software development methods, and newer technologies like cloud computing and artificial intelligence.
Industry And Demand
Generally, software engineers who work in high-demand industries, such as healthcare, finance, or IT, tend to command higher salaries than those in other fields.
Additionally, the employees specializing in software development technologies and programming languages may be able to negotiate greater salaries than their counterparts using less sought-after technologies or languages.
The Comparison To Other Countries’ Software Engineer Salary
Some factors impacting software engineer salaries in different countries include the cost of living, the demand for tech talent, and the availability of skilled workers.
For example, the average salary for a software engineer in the United States is around $90,000 per year, which is significantly higher than the average salary in the Philippines, which is around PHP 1000000 ($19,000) per year.
In countries like India, they can earn an average salary of around INR 600,000 ($8,000) per year, which is lower than in the United States and the Philippines. However, the cost of living is also lower, so the actual purchasing power of these salaries can also be quite different.
Conclusion
Software engineering is a highly demanded and lucrative career path. Companies are often willing to pay top software engineer salary for people who have the required skills, experience, and education.
By taking the time to research current trends, understand the job market, and build your skillset, you can ensure that you receive a salary commensurate with your ability and experience.
Salary in the Philippines by job:
Software Engineer | MedTech | Civil Engineer | Data Analyst | Accountant | Psychologist | Pharmacist | Doctor | Nurse | Pilot | Architect
