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What Is The Average Cost Of Hiring A Software Developer Team?

Renting a software developer team in Vietnam and building up your own abroad tech team has currently developed a solution for Singapore companies to move ahead in the pricey marketplace. From that, we might take various approaches and evaluate the renting cost of offshore developers from the perspective of a specialist Vietnamese recruiter. 

What Is The Average Cost Of Hiring A Software Developer Team?

What Is The Average Cost Of Hiring A Software Developer Team?

1. The hiring cost of a software developer team

It is time to take into consideration the software developer team structure or technology staffing that you need to move with. Based on experience, small software development groups are quite productive since it is simple to collaborate their efforts and realize the personal contributions of their members. Thus, the perfect size might be from three to five people.  

The hiring cost of a software developer team

Figure 1. Hiring cost of a software developer

Let’s claim you just need to enlarge at the smaller scale to optimize the spending, the team structure might be something like that

– One senior backend engineer (between 4 and 6 years of exp) as the team leader. 

– One junior front-end engineer (double years of exp)

– One junior mobile developer (double years of exp)

The hiring cost of a software developer team

Figure 2. Annual hiring cost of offshore developers

On top of it, you are paying a sum of $60,000 annually for a software development team of three persons across Vietnam. However, that is only the hiring cost and we still need to take care of their welfare and various advantages to enhance staff retention. 

In reality, the software field comes with the highest turnover ratio of any industry at more than 13% because of big constantly developing needs, leaving a lot of devs feeling undervalued when their staff fails to chase up with the market and their boosting skills. Therefore, the fancy staff benefits and compensation are a must. 

2. Welfare and staff benefits

Fortunately for us, Vietnam is well-known for its affordable IT talents so that your budget could manage these pretty bonuses to attract them. Through the Vietnamese culture, having gifts, bonuses, and incentives is a huge thing as it proves that the organization cares about its staff. 

On the other hand, with the extra $24,660 from welfare and staff benefit, your software development team of three persons might cost around $83,940 per year to establish and operate. Next, the number could not seem better at first glance, but they are:

– 40% cheaper than renting local devs in Singapore.

– 15% cheaper than work pass renting

– Higher-quality management than outsourcing.

That offers you ample resources to spend on the core business, interact with potential customers, and develop your business without getting to worry about not being able to accommodate them. 

Welfare and staff benefits

Figure 3. Employee benefits and perks

Wrapping It Up

There is no doubt that the IT scenario has become particularly saturated with tech start-ups mushrooming like never before. Competition is at an all-time high, and operational expenses are often increasing. Talent is getting scarcer from time to time. 

It is important to establish your software developer team across Vietnam precisely to make the most of the expense difference. For startups that are strange to the local market, we highly suggest you can look for professional assistance from IT staffing agencies in Vietnam that are focused on offshore venture and HR services in Vietnam startup landscapes.

Read more: What Are Permanent Staffing Solutions?

Source: Internet


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