Average Salary in Singapore 2022

How much does a Singaporean worker earn?

The average monthly salary for a Singaporean worker is 8,450 SGD. Between 2,140 SGD and 37,700, salaries are offered.

It includes accommodation, transportation, and other perks in the monthly wage. There is a huge disparity in pay across various professions. Remember that the cost of living in Singapore is high, so your salary must be able to cover your basic needs.

In general, the highest-paying jobs are in the financial sector, while the lowest-paying ones are in the retail and food & beverage industry. The average starting salary for a fresh graduate is about 3,600 SGD per month.

The median salary is defined as the salary at which 50% of workers earn more than that amount and 50% earn less. Based on this definition, the median monthly salary in Singapore is 7,000 SGD.

Singapore’s Salary Structure

Salary Level

Between 2,140 to 37,700 SGD a month is the range of salaries in Singapore. The median salary is approximately SGD 4,437 a month. The starting salaries for fresh graduates in Singapore are lower, at an average of SGD 2,769 a month.

The lowest 10% earn less than SGD 1,950 and the highest 10% earn more than SGD 8,750 a month.

Median Income

SGD 8,790 is the median monthly pay, meaning that half of the population earns less than SGD 8,790, while the other 50% earns more. The lowest-paying jobs are in the retail and food & beverage industry, while the highest-paying ones are in the financial sector.

Percentiles

75% of the population gains more than 4,920 SGD, while 25% of the population earns less than this amount. The top 10% earn more than 8,750 SGD, while the bottom 10% earn less than 1,950 SGD.

How does the median pay vary from the average wage?

Both the median salary and average wage are indicators of how much workers earn in a certain country or region.

The main difference between these two measures is that the median salary represents the salary in the middle of the workers’ earnings distribution, while the average wage represents the sum of all workers’ salaries divided by the total number of workers.

In general, the median pay is lower than the average wage because there are always a few workers who earn very high salaries (known as “outliers”) that skew the average upwards. However, in some cases, the median pay may be higher than the average wage, such as in countries with high levels of income inequality.

Comparing Singaporean Salaries Based on Years of Experience

How does an individual’s pay develop over time?

A worker may start at a lower salary when they first join the workforce. With time, they may receive annual increments and promotions that lead to an increase in pay.

Average salary in Europe

The following table shows how salaries develop over time for employees in Singapore.

  • 0-2 years – 3,000 – 4,500 SGD
  • 3-5 years – 4,500 – 6,000 SGD
  • 6-8 years – 6,000 – 9,000 SGD
  • 9-11 years – 9,000 – 12,000 SGD
  • 12 years and above – 12,000 and above

As you can see, salaries tend to increase with years of experience. An individual’s starting salary may be low, but their salary will gradually increase as they gain more experience.

It is important to note that these are just averages. Some individuals may start at a higher salary than others, and some may receive promotions more quickly. There are many factors that can affect an individual’s pay, including their qualifications, skills, and the industry they work in.

Comparison of Salaries by Education in Singapore

How does your education level affect your salary?

In Singapore, those with higher educational levels tend to earn more. The average salary for a worker with a secondary school education is about 2,500 SGD, while the average salary for a worker with a university degree is about 4,000 SGD.

However, there is considerable variation in salaries within each educational group. For example, among workers with secondary school education, some may earn as little as 1,500 SGD per month while others may earn as much as 3,500 SGD per month.

The following table shows the average salaries of workers in Singapore by education level in 2022:

  • Secondary school – 2,500
  • University degree – 4,000

Is it really worth it to get a Master’s or an MBA?

Obtaining a Ph.D. or other professional degree can help you earn a higher salary, but it is important to consider the cost of obtaining these degrees. For example, a Master’s degree may cost you around 30,000 SGD, while an MBA can cost upwards of 100,000 SGD.

Thus, you need to weigh the costs and benefits of furthering your education before making a decision.

If you are already earning a good salary, you may not need to obtain a higher degree in order to earn more money. However, if you are not earning as much as you would like, furthering your education may be a good investment.

Singapore’s Gender-Based Pay Scale

Generally speaking, men workers in Singapore earn 5% more than their female colleagues. Moreover, the gender pay gap is particularly high in seniority roles, with men earning almost 15% more than women in such positions.

This significant discrepancy between the sexes can partly be attributed to the prevalence of women taking on lower-paying jobs and sectors. For instance, women make up a large majority of employees in the healthcare and social assistance industry (77%), as well as in the education sector (69%).

Conversely, men are overrepresented in higher-earning industries such as information and communication (68%), and professional services (58%).

However, even when holding similar positions and working in the same industry, women still earn less than men.

Annual Salary Increase Percentage Average in Singapore

What are the average yearly pay increases in Singapore? How frequently do workers get an increase in their base salary?

In Singapore, the average annual income rise for workers is roughly 9%. This includes cost-of-living adjustments and merit-based raises. Workers can expect to receive an average salary increase of 3% to 5% each year, depending on their company’s profitability and budget circumstances.

However, it is not uncommon for employees to receive no salary increase at all in certain years. Remember that an annual salary increase is not guaranteed, and it is always best to be prepared for the possibility of no raise at all.

If you are planning to ask for a salary increase, it is important to do your research beforehand. Make sure you know what the average salary increase percentage is in Singapore, as well as the range that your company usually offers.

This will give you a better idea of what to expect and help you negotiate for a fair salary.

Rate of Annual Growth by Sector in 2022

  • Travel – 8%
  • Education – 5%
  • Banking – 7%
  • Energy – 8%
  • Business and professional services – 9%
  • Information technology – 10%
  • Telecommunications – 11%
  • Life sciences and healthcare – 12%

Singapore’s manufacturing sector is projected to grow by 3.5% in 2022, while the construction and retail sectors are expected to see slower growth of 1.5% and 2.0%, respectively.

The average salary in Singapore is expected to increase by 5.0% in 2022, after taking into account inflation. This is higher than the projected global average salary increase of 3.9%.

Salary Increase Rates in Singapore based on Experience Level

Junior-level workers may have been given about a 3-5% income increase, whereas senior-level executives could be given up to an 8-10% of income increase.

This salary increase may also come with a promotion or a title change, as your organization wants to show its commitment to your professional development.

As an experienced professional, you should aim for at least a 5-10% salary increase when switching jobs.

For those who are looking to move into management positions, a 10-15% increase in pay is not uncommon.

If you are offered a job that is significantly lower than your current salary, do not be afraid to negotiate for a higher salary. Employers expect that you will do this and it shows that you are confident in your abilities.

Promotional Payouts in Singapore

How frequently are bonuses given?

Moreover half (56%) of Singaporean employees claimed they got some type of monetary bonus in the last year, while 44% stated they didn’t get any.

Bonuses received by employees ranged from 3% to 6% of their yearly salaries. The average bonus payout was 4.5% of the annual salary.

When it comes to frequency, 1 in 10 (11%) said they receive bonuses every month, while the rest get theirs quarterly (17%), half-yearly (24%), or yearly (48%).

Varieties of Bonuses

Individual Success Bonuses

This kind of bonus is given to a worker that exceeded the company’s expectations. It is usually a percentage of the worker’s salary and it is given at the end of the year.

Individual-based bonuses are great because they give employees extra motivation to do their best and produce great results.

This type of bonus is also given to workers that have increased the company’s productivity. It is usually a percentage of the worker’s salary and it is given at the end of the year. Productivity bonuses are great because they give employees extra motivation to do their best and produce great results.

Performance-Based Company Bonuses

This type of bonus is usually given to the entire company or a department that has met or exceeded its goals. Performance-based bonuses are great because they give employees extra motivation to do their best and produce great results.

This type of bonus is usually given to the entire company or a department that has generated profits for the company. Company performance-based bonuses are great because they give employees extra motivation to do their best and produce great results.

Goal-based Rewards

Employees that have met their objectives are often awarded this sort of bonus. Goal-based incentives are a terrific way to motivate staff to achieve their best and create the greatest outcomes possible.

Employees that have contributed to the company’s success are often awarded this sort of incentive. If you’re looking for ways to boost staff productivity and morale, then goal-based incentives are a terrific option.

Bonuses for the Holidays / Year’s End

All workers or a department that has done well over the course of the year often get this sort of incentive. Employees who get holiday bonuses are more likely to strive for excellence and achieve their goals.

Workers who have met their goals for the year are often awarded this sort of bonus. Employees are more likely to strive for excellence when they are rewarded at the end of the year.

Comparison of Bonuses in Singapore by Career Field

What makes a job worth the high pay and generous bonuses?

In Singapore, the average person spends 13% of their salary on bonuses. That’s not to say that every job in Singapore pays well, but many do.

The highest-paid jobs in Singapore are in the banking and finance sector, where the average salary is a whopping 238,000 SGD per year. Not far behind are jobs in the information technology sector, which pay an average of 231,000 SGD per year.

Comparison of Bonuses in Singapore based on Seniority Level

This kind of bonus is given to workers who have been with the company for a long time. It is usually a percentage of the worker’s salary and it is given at the end of the year.

Loyalty bonuses are great because they give employees extra motivation to stay with the company for a longer period of time. In order to get a bonus in Singapore, it is important to be aware of the different types of bonuses that are available.

There are three main types of bonuses: annual bonuses, performance-based bonuses, and sign-on bonuses. Each type of bonus has its own set of requirements that must be met in order for the employee to receive the bonus.

Annual bonuses are the most common type of bonus in Singapore. This type of bonus is given to employees based on their length of service with the company.

The longer an employee has been with the company, the higher the annual bonus will be. In order to receive an annual bonus, employees must usually have been with the company for at least one year.

Pay for High-Quality Positions

Engineering

  • Civil Engineer – 7,520 SGD
  • Electrical Engineer – 7,920 SGD
  • Engineer – 7,560 SGD
  • Electronics Engineer – 7,960 SGD
  • Industrial Engineer – 7,520 SGD
  • Mechanical Engineer – 7,560 SGD
  • Technical Manager – 8,840 SGD
  • Project Manager – 8,280 SGD

Information Technology (IT)

  • Computer Hardware Engineer – 7,920 SGD
  • Computer Network Architect – 7,880 SGD
  • Computer Programmer – 6,760 SGD
  • Database Administrator – 6,520 SGD
  • Network and Systems Administrator – 6,780 SGD
  • Web Developer – 6,440 SGD

Healthcare Professionals

  • Anesthesiologist – 11,880 SGD
  • Cardiologist- 12,040SGD
  • Dermatologist- 10,560SGD
  • Gastroenterologist- 10,920SGD
  • Obstetrician/Gynecologist- 11,160SGD
  • Ophthalmologist- 11,560SGD
  • Orthopedic Surgeon- 12,520SGD
  • Pediatrician- 10,880SGD
  • Psychiatrist- 9,760SGD
  • Surgeon- 12,120SGD

Legal Professionals

  • Judges and Magistrates – 13,440 SGD
  • Lawyers – 11,320 SGD
  • Paralegals and Legal Assistants – 4,560 SGD

Management Positions

  • CEOs and General Managers – 16,520 SGD
  • Finance Manager – 10,840 SGD
  • Human Resources Manager – 9,760 SGD
  • Marketing Manager – 9,600 SGD
  • Operations Manager – 9,960 SGD

Singapore’s Standard Hourly Wage

Singapore’s hourly salary is 49 SGD. The average monthly salary in Singapore is 4,125 SGD. The average salary for full-time employees working in Singapore was 6,673 SGD per month. The median monthly salary for full-time employees was 5,000 SGD.

Comparison of Earnings in the Public and Private Sectors

Employees in Singapore’s public sector typically earn 5% more than their private-sector counterparts. The average salary in the public sector is 70,526 SGD, while the average salary in the private sector is 67,152 SGD.

The highest salaries in Singapore are earned by those working in the banking and finance sector, where the average salary is 122,525 SGD. This is followed by those working in the information technology sector, where the average salary is 101,624 SGD.

The lowest salaries are earned by those working in the hospitality and tourism sector, where the average salary is 45,247 SGD.

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