In the latest Startup Cities Index by Nestpick, Singapore has been named the best city to work in a startup - thanks to the nation’s high-quality healthcare, safety and vibrant start-up ecosystem.
The city scored 4.79 on the startup ecosystem, which calculated the number of startups in each city, and on the availability of capital and funding. Singapore scored full marks on the scale of one to five for security, and a rating of 4.91 where healthcare is concerned.
The study also calculated the city’s average salaries for management, technology, and marketing positions. For project management, entry-level staff are earning about US$33,968; while experienced professionals are receiving $65,937. In the tech industry, the average income is $38,245 for entry-level staff, and $59,145 for experienced employees. As for marketing roles, the average salary is $43,714 ( entry-level) and $58,768 (experienced).
Even though the city does not offer the best salaries or the most vacation days, Singapore has managed to beat other cities with a more dynamic startup culture such as Helsinki (2nd), San Francisco (3rd), Berlin (4th), and Stockholm (5th).
Following that, here is the list of startup salaries for the top 10 cities:
Rank 6: Tel Aviv
Project Management Entry-level: $27,718 Experienced: $109,903
Tech Entry-level: $48,483 Experienced: $98,620
Marketing Entry-level: $30,930 Experienced: $56,620
Rank 7: Zurich
Project Management Entry-level: $40,045 Experienced: $107,703
Tech Entry-level: $48,580 Experienced: $110,815
Marketing Entry-level: $41,163 Experienced: $81,406
Rank 8: Seoul
Project Management Entry-level: $29,664 Experienced: $53,739
Tech Entry-level: $35,256 Experienced: $59,084
Marketing Entry-level: $25,090 Experienced: $51,743
Rank 9: Hamburg
Project Management Entry-level: $31,403 Experienced: $87,463
Tech Entry-level: $46,067 Experienced: $68,303
Marketing Entry-level: $33,629 Experienced: $64,806
Rank 10: Toronto
Project Management Entry-level: $34,198 Experienced: $92,663
Tech Entry-level: $67,158 Experienced: $69,830
Marketing Entry-level: $35,214 Experienced: $69,893
Scoring cities based on five main factors such as the startup ecosystem, pay, cost of living, quality of life, social security and benefits, the study examined 85 cities worldwide. Nigeria’s Lagos came in the 85th spot with a startup ecosystem score of 1.55.
Ömer Kücükdere, managing director of Nestpick, commented: “Certain cities may offer bigger paychecks, but after considering taxes and living expenses, the return may not be so high. Similarly, professionals should consider quality of life: will vacation days be adequate to visit home? Is healthcare as accessible as you would like it to be?”
“We believe that time taken researching potential employers should not overshadow understanding the best cities in which to work. We hope that our study helps those looking to work in startups identify the cities which may best suit their needs,” he added.
Lead Photo / 123RF
Table / Nestpick