How to Know if You’re Paid Enough in Singapore

With the tough economic times in Singapore and beyond, it is common for employees to ask for a pay rise to help mitigate the strain. And there is nothing wrong with that considering we work to help change our lives for the better. Well, that will always remain a dream if you’re underpaid by your current employers.


Rather than turning a blind eye as this happens, be sure to acquaint yourself with the set salaries across different industries. Equipped with this information, you will no longer have to worry about being paid peanuts. This salary guide Singapore across industries 2023 will certainly help you know what is expected in your current job position.


A Look Into Singapore’s Job Market

Before delving deeper into our discussion topic today, it is vital that you grasp the overall job market in these parts of the world. As one of the most vibrant and dynamic economies in the world, Singapore provides a wide range of jobs and opportunities across diverse sectors worth leveraging.


The city-state has built a reputation for her as a global financial hub, a booming tech center, and a melting pot of innovation. Actually, this is among the main reasons why you should consider seeking employment in Singapore.


It is worth noting that the state’s workforce is made up of highly-skilled professionals from varying backgrounds. This makes it a competitive environment for job seekers and employers alike. The demand for talent is at an all time high, but so are the expectations from employers when it comes to skills, experienced, and qualifications.


Before applying for a vacant position in any industry, it is in your best interest to factor in the average salary in that job opening. Let’s take the finance and banking sector as an example- the backbone of Singapore’s bustling economy.


If you find yourself in this sector, then you’re in luck. On average, professionals in this industry can expect salaries ranging from SGD 80,000 to SGD 150,000 per year. However, senior executives and those in specialized roles might be earning even more.


It is worth noting that the average salary in Singapore in 2023 is around SGD 70,0000. Full-time workers in Singapore on average make SGD 5, 783 a month, translating to SGD 69. 396 a year. Be sure to have a look at the salary guide Singapore industries 2023 to know where your job currently lies.