Average Salary in Singapore 2026: Latest Data, Trends & Insights TEST UPDATE 4:30 PM

The Singapore labour market is still one of the most competitive in Asia, with corresponding salaries. However, for businesses, being aware of the trends in salaries today is more than knowing what the competitors are paying; it involves complying with relevant laws, remaining competitive, and keeping realism in mind.

Wages will continue increasing in 2026 due to the excellent economic fundamentals in the country and initiatives such as the PWM. Furthermore, recruitment costs will continue rising due to the scarcity of skilled labour in certain industries.

This is why this guide was developed. To assist you with your knowledge of current salary trends.

What Is the Average Salary in Singapore in 2026?

In 2026, most people in Singapore will earn around S$5,700 to S$5,800 per month, including CPF. If you look at the take-home salary (without CPF), it’s about S$5,000.

The average salary is higher, around S$6,200, but that’s mainly because some people earn very high salaries.

So for employers, it’s better to look at the median salary, as it gives a more realistic idea of what most people actually earn.

Salary Trends: What’s Driving Wage Growth?

Salaries in Singapore have grown steadily during the last few years and tend to grow between 4 and 6 per cent yearly. 

In addition, this development is accompanied by a rise in productivity, which is why the improvements are felt in terms of actual income and not simply increased figures on the paychecks.

While the labor market remains tight and there is a shortage of skilled workers, what makes the situation even more complex is the move of businesses toward skill-based remuneration systems.

As for your business, what this all implies for you as an employer is clear enough – salaries should correspond to skills rather than job titles.

Average Salary by Industry and Job Level

Salaries vary widely depending on industry and experience. The most competitive hiring segment in 2026 is mid-level talent (S$5K–S$10K), where retention is becoming a major challenge.

Here’s a clear breakdown:

Industry Salary Benchmarks (Monthly, 2026)

Industry	Entry Level	Mid Level	Senior Level
Technology / IT	S$3,500–5,000	S$5,500–9,000	S$9,000–18,000
Financial Services	S$3,800–5,500	S$5,500–10,000	S$10,000–25,000
Healthcare	S$3,000–4,500	S$4,500–7,000	S$7,000–15,000
Manufacturing	S$2,800–4,000	S$4,000–6,500	S$6,500–12,000
Logistics	S$2,500–3,800	S$3,800–6,000	S$6,000–10,000

Progressive Wage Model (PWM): Minimum Salary Requirements

Singapore does not follow a universal minimum wage system. Instead, it uses the Progressive Wage Model (PWM), which sets minimum salaries for specific sectors.

PWM Minimum Salaries by Sector (2025–2026)

Sector	Monthly Minimum Range
Cleaning	S$1,910 – S$2,830
Security	S$2,315 – S$3,770
Landscaping	S$1,950 – S$2,900
Retail	S$2,305 – S$2,435
Food Services	S$2,080 – S$2,730
Waste Management	S$2,530 – S$3,330
Administrative Support	S$1,980 – S$3,160

What this means for employers:

• PWM wages are mandatory in regulated sectors
• Wage floors are increasing every year
• Entry-level hiring costs are steadily rising

Foreign Workforce Salary Thresholds

When it comes to hiring foreign professionals, finding the right person is very important and so is the salary requirements. For a successful hiring, you have to meet certain salary requirements.

• Employment Pass (EP) minimum salary: around S$5,600/month
• Higher thresholds apply in sectors like finance and for more senior roles

This is mainly to keep things fair and protect local wages.

So as an employer, you are balancing two things here which is getting the talent you need, while also staying fully compliant with the regulations.

Understanding Total Employment Cost

Salary is only one part of the equation. Understanding the total employment cost is the main thing.

In Singapore, on top of the base salary, employers also contribute about 17% to CPF. And when you add bonuses and other benefits, the total cost goes up even more.

For example:

• S$5,000 salary: the actual cost is quite a bit higher once CPF is added

So when you are planning compensation, you can’t just look at the salary alone. Especially in 2026, it’s important to think in terms of total cost and not just what you are paying on paper.

Key Factors Affecting Salaries in 2026

Several trends are shaping salaries right now and you can see how they are all connected:

• Strong demand in areas like tech, finance, and healthcare
• Expansion of PWM, which is pushing wages up across more industries
• Skills shortages, especially in specialised roles
• Global competition, where companies are competing beyond just local talent
• Productivity-linked wage growth, meaning better performance is driving higher pay

Future Outlook: What Employers Can Expect

Looking ahead, salary growth is likely to stay stable around 4-6% annually.

At the same time, a few things will continue shaping the market:

• PWM will keep pushing minimum wages up across more sectors
• Demand for specialised talent will stay high, so competition isn’t easing anytime soon
• Companies will focus more on efficient workforce planning, trying to balance costs with productivity
• So, things won’t slow down. You will just need to be a bit more strategic with how you plan and manage salaries going forward.

Conclusion

Summing up, it can be said that in 2026, salaries in Singapore are going up, but things are also getting stricter and more structured.

For employers, it’s pretty simple but not easy. You need to pay well to attract people, but at the same time, you have to manage higher costs and follow all the rules.

And now, salary is no longer just about giving money. It’s about having a proper plan that follows the law and makes sense for the future.