Singapore Salary Guide (2025): What is the Average Salary?

Do you know whether you are earning an above- or below-average salary in Singapore? Consulting a Singapore salary guide will help you know if you’re drawing a fair salary, as well as guide you in taking useful steps to advance your career. Find out how you compare with your peers, and what salary benchmarks to expect in 2025.

On a nominal level, the median salary in Singapore has grown significantly over the past 10 years. Data from the Ministry of Manpower (MOM) places the median gross monthly income at S$3,770 in 2013. In 2024, the figure had grown to S$5,500 – an increase of approximately 48%. 

Having said that, nominal increases in income does not always translate to the same level of improvements in lifestyle, or even spending power. This is because like all other economies, Singapore is affected by inflation, which erodes the beneficial effects of nominal wage increases. 

Therefore, it is important to consider the real rate of wage increase, which is a metric that takes inflation into account. Have a look at these figures, taken from MOM’s website.

Total wage change (including employer CPF contributions) from 2013 to 2023

Zooming into 2023, we see that even though employers provided one of the largest wage increases in the decade at 5.2%, the benefits were mostly erased by inflation; wages grew only by 0.4% in real terms, making it one of the lowest years on record.

The median gross monthly salary in Singapore, including employer CPF contributions, stood at S$5,500 in 2024. This is for all full-time workers in Singapore. 

While median salaries may be good for comparing standards of living among different countries, it is quite meaningless when dialled down to a personal level. This is because salaries are impacted by different factors, including age, gender and industry, so knowing the national median salary doesn’t allow for any useful comparisons. 

For instance, a salary of S$5,000 might be considered high among restaurant managers, but to C-suite executives or neurosurgeons, it’s a different story. 

Just so that we can have a more nuanced understanding, let’s take a closer look at median salaries broken down by age and gender. 

Median salary by age (data set for 2024)

As expected, median salaries grew sharply from age 20s to mid-30s, but started to plateau for the next decade or so. Median salaries actually dropped off from age 50 onwards – perhaps due to retrenchments as companies attempt to rein in rising manpower costs?

But then again, these are median salaries across several different industries. By no way are these numbers prescriptive, and there is absolutely no need for your individual career to follow the course these numbers suggest.

Unfortunately, there is a gender pay gap in Singapore, and a closer look at the data suggests that gender norms still hold sway. 

Let’s take a look at the numbers below:

Although the general trend seems to be improving, with the 7.7% gap in 2023 being the lowest recorded, there is still some way to go towards narrowing the gap. Again, keep in mind that these are median incomes across various industries, and not an accurate indicator of individual earning potential.

Now that we’ve discussed Singapore’s salary landscape and recent trends let’s take a look at some salary benchmarks to get an idea of how much you should be getting paid.

The following salary benchmarks are taken from the 2025 Singapore Salary Guide by Morgan McKinley. Salaries are expressed on a per annum basis.

No matter how much you are earning, you may be looking for a way to get more out of your savings. You can do this by opening a high-yield savings account (HYSA) or if you are looking to go one step further, to start investing. There are plenty of brokerage accounts in Singapore even complete beginners can get started with – take a look at some of our best recommendations below.

SingSaver’s take

If you are taking your first step into the world of investing, consider Syfe’s user-friendly, all-in-one platform  that offers a strong mix of portfolio options. There is no minimum investment required and alongside low management fees and automated portfolio rebalancing, it's a great choice for young professionals and passive investors.

Read full review

SingSaver’s take

uSMART is a great choice for investors looking to diversify their portfolios with a wide range of products, from stocks, fractions, futures, and ETFs. With no commission fees on US stocks and low fees on options, uSMART presents a relatively low barrier to entry. However, one limitation of the platform is that available stocks are limited to the US, SG and HK markets.

SingSaver’s take

With Tiger Brokers, investors only need to pay a commission fee on every trade they make. There are no custody, deposit, withdrawal, account maintenance or inactivity fees.

Read full review

After looking at the salary charts above, you’ll probably find the question as helpful as asking ‘How much should I save?” or “How much do 30 year olds earn in Singapore?”

Apart from getting a promotion, one of the best times to increase your salary is when you have a job offer. On average, jobseekers reported a 20% increase in their salary when they change jobs, with some receiving as much as 38%.

Why are we shining the spotlight on the median salary trend? To encourage you to start thinking about retirement, of course! 

Like it or not, it is crucial that we plan ahead for retirement and commit to putting money aside regularly when we have the means to hustle and earn more money. The hard truth is that our earning ability dips when we’re old. 

You don’t want to wait till it’s too late before regrets become a thing you have to deal with on the daily with little to no extra money to spare. Case in point, retirees who didn’t plan for their retirement only have an average of S$1/day to spend on things they like! Have a look at these shocking statistics — they will push you to get started on your retirement planning.  

While you’re at it, start investing early to take advantage of the magic of compound interest! 

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