High 10% salaries in Singapore by age and trade

Disclaimer: Except in any other case acknowledged, any opinions expressed under belong solely to the writer. Knowledge sourced from the Ministry of Manpower.

In Aug, Singapore’s Ministry of Manpower up to date its wage benchmarks used to attain Employment Cross functions for foreigners. However the additional benefit of those statistical tables is that they supply probably the most detailed perception into how a lot Singaporeans earn relying on age and trade (which then immigrant candidates are evaluated in opposition to).

The information under reveals benchmark ranges of native PMETs that foreigners should match or exceed so as to get the utmost 20 factors for the wage part beneath the COMPASS system launched final 12 months. They have to fall throughout the prime 10% of salaries earned by Singaporeans in every sector.

S$10,000 at age 25?

Elite performers can draw greater than S$10,000 even at a contemporary graduate age of 25, in eight industries: Administrative & Assist Companies, Air & Sea Transport, Banking & Finance, Fund Administration (even S$15k!), IT, Insurance coverage, Skilled Companies, and Actual Property.

However even in much less beneficiant industries, the salaries of the highest 10% of 25-year-olds begin at roughly S$6,200 per thirty days. Not dangerous.

By age 40, it’s attainable to make S$10k per thirty days in every one, although it’s already doubtless in most of them by your mid-30s. In different phrases, climbing the ladder can result in a reasonably snug life, it doesn’t matter what your enterprise is—there’s good cash to be made in every single place.

Notice: These quantities are inclusive of the essential wage in addition to mounted month-to-month allowances, which embrace contributions to any pension plans (i.e., CPF) by the employer.

Salaries on the ninetieth percentile of native PMETs

(Professionals, Managers, Executives, and Technicians)

By 45 years or extra (which is the place MOM stops its benchmarking for EP candidates), it’s clear that probably the most profitable professions are present in, unsurprisingly, monetary companies (with fund administration being a notable outlier, paying its prime 10% of middle-aged workers over S$40,000 per thirty days), IT, wholesale commerce, and logistics. You may hope to clear a couple of quarter of one million per 12 months in every of them.

However you gained’t be a beggar in another trade, on condition that at this age, every pays its prime performers nicely over S$100,000 per 12 months.

And as these figures represent the bar foreigners have to clear to attain prime factors of their EP software, it’s clear that Singaporeans in high-paying jobs are nicely shielded from exterior competitors.

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