Overview
Singapore’s labor market features a high median income with notable variation across industries and worker segments. As of 2024, the median gross monthly income for full-time employed residents was S$5,500 (including employer CPF contributions) . This marks a 5.8% increase from 2023’s median of S$5,197 . However, salaries differ widely by sector – finance and tech workers earn well above the national average, while industries like food services and admin support pay significantly less. Generally, local and expatriate employees in similar high-skilled roles now receive comparable base salaries, though traditional expatriate benefit packages (housing, schooling, etc.) can boost total compensation for foreign hires . It’s also important to distinguish gross vs. net pay: mandatory CPF pension contributions and Singapore’s low income taxes mean take-home pay is somewhat lower than gross figures. Below, we present detailed data on national averages, sectoral breakdowns, local-vs-foreigner pay, and recent salary trends.
National Average Salaries
Median vs. Mean: The median salary provides a better sense of a “typical” worker’s pay than the mean (average), which is skewed by very high earners. In mid-2024 the median gross monthly income (for full-time Singapore citizens and PRs, including employer CPF) was S$5,500 . By comparison, the mean gross monthly income was around S$6,100–6,200 in 2024 , reflecting higher-income outliers. In other words, half of full-time resident workers earned about S$5.5k or less, while the average was lifted above S$6k by top earners. On an annualized basis, that median corresponds to roughly S$66,000/year (gross). For context, nominal wages grew about 5.2% in 2023 , although high inflation meant real purchasing power barely rose (real wage growth ~0.4% in 2023) .
National Distribution: Singapore’s income distribution is relatively broad. About 8,900 residents reported earning over S$1 million annually (in YA2023), whereas over 61,000 taxpayers earned S$25k or less . The bulk of workers fall in the middle-income range (e.g. S$30k–$100k annual) . The official Gini coefficient stood at 0.433 before taxes/transfers (0.371 after government redistributive policies), indicating a moderately high inequality that is tempered by taxes and social support .
Salary Breakdown by Industry
Salaries vary substantially across different sectors of the economy. The table below shows median monthly salaries (gross, before deductions) for full-time resident workers in major industries (2024 data, in SGD):
| Industry | Median Monthly Salary (SGD, 2024) |
| Financial & Insurance Services (Finance) | $8,736 |
| Information & Communications (Tech) | $7,605 |
| Public Administration & Education (Govt/Education) | $7,032 |
| Professional Services (e.g. legal, consulting) | $6,900 |
| Manufacturing | $5,860 |
| Wholesale & Retail Trade | $5,070 |
| Health & Social Services (Healthcare) | $5,070 |
| Construction | $4,914 |
| Real Estate Services | $4,908 |
| Arts, Entertainment & Recreation | $4,777 |
| Transportation & Storage (Logistics) | $3,900 |
| Administrative & Support Services | $3,296 |
| Accommodation & Food Services (Hospitality/F&B) | $2,974 |
Source: Median gross monthly income of full-time employed residents by industry, 2024 (MOM Labour Force Survey) .
As shown above, financial services is the top-paying sector with a median of $8.7k, followed by information & communications (tech) at $7.6k and public sector/education roles at $7.0k. Other professional industries (e.g. legal, consulting, scientific) also pay well above the national median ($6.9k). In contrast, labor-intensive service sectors tend to offer lower pay – the median in food/accommodation services is under $3k, and administrative/support services (e.g. cleaning, security, clerical support) around $3.3k. Mid-range sectors include manufacturing ($5.9k) and healthcare ($5.1k for health & social services). Notably, construction, a sector heavily reliant on manual labor and migrant workers, shows a median of about $4.9k , which is slightly below the overall median. Sectors like wholesale/retail trade ($5.1k) and real estate services ($4.9k) hover near the middle of the range.
Industry Trends: Most industries saw wage growth from 2023 to 2024. For example, finance (+6.7%) and professional services (+7.2%) had healthy increases, while tech (Info-communications) rose ~3.9% . The fastest raises were in Arts/Entertainment (+16.7%) and “Others” (+13.9%) – likely a rebound as these segments recovered post-pandemic . A few sectors stagnated or declined: e.g. construction median fell slightly (–1.7%) amid an influx of workers and project delays , and the miscellaneous “Other services” category dropped –5.7% . Overall, the national median rose 5.8% in 2024, indicating broad-based wage growth .
Locals vs. Expatriates: Salary Comparisons
Local Residents vs Foreign Hires: Singapore’s workforce includes about 1.5 million non-residents (foreign workers) alongside 2.4 million residents . Pay differences between locals and expatriates can be complex, because “expatriates” range from top-paid professionals on expat packages to lower-wage migrant workers in sectors like construction and domestic work. Historically, foreign professionals were often lured with generous expat packages – including premiums for relocation, housing, schooling, etc. In 2022, the average expatriate compensation package in Singapore (for a mid-level manager, including salary, housing, and benefits) was about USD 258,762 annually (≈ S$350k) . This placed Singapore 16th globally for expat pay packages, on par with cities like Hong Kong. By comparison, a typical local manager might earn a base salary well below that, with the national median income equivalent to ~S$66k/yr.
However, the gap between local and expat pay has narrowed in recent years. Many multinational companies now “localize” expatriate salaries, offering foreign hires roughly the same base pay as local employees in similar roles . “Few expats today are on the inflated packages of the past… expatriates are paid the same as local workers, [with] skills and experience… decid[ing] their level of compensation,” according to Hays Asia’s Singapore Managing Director . In practice, this means a foreign engineer or banker is likely paid according to their job’s market rate, not an automatic premium for being an expat.
That said, expatriate pay still tends to be higher on average for senior skilled roles. Employment Pass (EP) holders (foreign professionals) must earn a minimum salary (rising to S$5,600/month by Sep 2025 for new EPs), and many earn far above that. Furthermore, some expats receive allowances or bonuses (housing, transport, etc.) that local hires might not. On the other end of the spectrum, Singapore relies on work permit holders (often from neighboring countries) for lower-skilled jobs. These workers – for example, in construction, cleaning, or domestic help – often earn significantly less than the median local salary, sometimes on the order of S$800–$2,000 per month (with housing often provided separately). For such roles, the government’s Progressive Wage Model sets baseline wage ladders for locals, but foreign work permit holders’ wages are usually determined by market and work pass regulations rather than an equal “local vs expat” comparison. In summary, for high-skilled jobs the local-expat salary gap has largely closed at the base salary level , whereas for lower-skilled jobs many foreign workers still earn low wages that bring down the overall average for “expatriates” as a broad group.
Gross vs. Net Salaries (CPF and Tax Deductions)
When discussing salaries in Singapore, it’s important to distinguish between gross pay and net take-home pay:
In summary, a 20% CPF contribution and low income taxes are the key differences between gross and net salaries for locals. Singapore’s CPF serves as forced savings for housing, healthcare and retirement, so part of one’s “salary” is automatically diverted into those accounts (not immediately spendable as take-home cash). It’s worth noting that expatriate employees (non-citizens/Permanent Residents) do not contribute to CPF – so foreign workers get their full agreed salary in cash, but also miss out on CPF employer contributions. On the other hand, they must budget for their own retirement savings, and they pay the same income tax rates as locals. Overall, Singapore’s net take-home pay as a percentage of gross is fairly high compared to many countries, since income tax rates are low (the first S$20k of annual income is tax-free, and the marginal rate even up to S$80k is 7% or below). A high-earning individual in Singapore will still take home ~80+% of their gross pay after CPF and tax – and for lower-income workers, disposable share is even higher because of tax exemptions and rebates.
Historical Salary Trends (Past Few Years)
Singapore’s average salaries have shown robust growth over the past decade, despite short-term fluctuations. The table below highlights the median monthly income (full-time employed residents) in recent years and its growth:
| Year | Median Gross Monthly Income (Incl. Employer CPF) |
| 2019 | S$4,563 |
| 2020 | S$4,534 (–0.6% vs 2019) |
| 2021 | S$4,680 (+3.2%) |
| 2022 | S$5,070 (+8.3%) |
| 2023 | S$5,197 (+2.5%) |
| 2024 | S$5,500 (+5.8%) |
Source: Ministry of Manpower, Comprehensive Labour Force Survey (median gross monthly income of full-time residents) .
Overall, from 2019 to 2024 the median salary rose ~20.5% in nominal terms (about 3.8% per annum on average). This continued a longer trend – over the last 10 years, median income is up roughly 40% (it was S$3.7k in 2013) . The only recent dip was in 2020, when median pay slightly declined (–0.6%) amid the COVID-19 shock . This reflected wage freezes and job losses especially in hospitality and aviation that year. However, the rebound was swift: 2021 saw incomes recover by +3.2%, and 2022 saw an accelerated 8% jump as the job market tightened . By 2023–2024, wage growth normalized to around 5–6% annually in nominal terms .
It’s important to adjust for inflation to gauge real purchasing power. Singapore experienced high inflation (~4–6%) in 2022–2023, which outpaced some of the wage gains. In 2023, real median income actually fell ~2.2% even though nominal median rose, due to inflation eroding spending power . Preliminary data shows a recovery in 2024, with real income growth ~3.4% as inflation moderated . Over 2019–2024, real median income grew only ~0.7% per year on average, versus ~3.8% per year in nominal terms . This indicates that while workers are earning considerably more dollars than a few years ago, the cost of living has also risen, dampening the gains in real terms.
Historical context: Singapore’s wage growth has been driven by a tight labor market and shifts toward higher-skilled jobs. Policies like progressive wage models have lifted pay floors in lower-income sectors (cleaning, security, F&B) by a few percent annually , while demand in tech and finance has boosted salaries at the high end. The government also intervened during COVID-19 with job support schemes, which helped preserve jobs (and wage levels) through 2020, resulting in the very mild dip that year. By 2025, the average salary (across all workers) is projected to continue rising, with one estimate putting the overall average at ~S$7.3k per month in 2025 . Indeed, the Labour Market Advance Release for Q2 2025 reported ongoing wage growth alongside low unemployment (2.1%) . Barring major economic shocks, Singapore’s trend of steady salary growth – roughly 3–4% annually in nominal terms – is expected to sustain, underpinned by productivity improvements and efforts to upgrade jobs.
Conclusion
In summary, Singapore’s average monthly salaries are among the highest in Asia, with a 2024 national median of about S$5.5k and an even higher mean above S$6k. Pay is highly sector-dependent: industries like finance, tech, and professional services significantly outpace others such as hospitality or admin support. Local vs expatriate pay gaps have largely closed for equivalent jobs (most firms pay based on role rather than nationality), though expatriates on overseas assignment packages may have higher total compensation due to added benefits. When evaluating salaries, one should account for CPF contributions and taxes, which make the take-home pay lower than the gross figures – a median local employee keeps roughly S$0.70–$0.75 of each dollar earned after CPF and tax. Finally, trends over recent years show strong wage growth in nominal terms, though real gains were moderated by inflation. Keeping an eye on industry-specific trends and policy changes (like minimum EP salary or progressive wage mandates) is crucial for understanding how different segments of Singapore’s labor market are faring in terms of pay. Overall, the data up to 2024/2025 indicates a healthy growth trajectory for incomes, reinforcing Singapore’s status as a high-income economy while highlighting the continued importance of productivity and skills in securing wage increases.
Sources: Official statistics from the Ministry of Manpower (Comprehensive Labour Force Survey, Yearbook of Manpower Statistics) ; Singapore Department of Statistics releases; salary surveys (Hays Asia, Robert Walters); and news analyses from The Straits Times and industry reports. All monetary figures are in Singapore Dollars (SGD). Citations have been provided for key figures and statements for verification.