In Singapore monthly salary depends on experience level, occupation, Job title, and education level.
In addition, it varies dramatically by sectors, such as IT, banking, and healthcare, and work type (self employed persons, part-time, or full-time).
A Singaporean employee’s average gross monthly income is S$8,450 (considering all these points). Gross monthly income refers to a person’s basic monthly salary before deductions for employee CPF contributions, personal income taxes, overtime pay, commissions, and annual bonuses.
Furthermore, a Singaporean employee makes an hourly earnings average of 49 SGD. It is approximately 36 USD.
Here are a few other characteristics of average Singaporean salaries:Median Salary Overview The calculation of Singapore’s median salary involves dividing the workforce into two equal groups based on their salary. While a majority of employees earn salaries above the median, nearly half earn salaries below this point. An Overview of Median Monthly Salary Singapore boasts an average median monthly salary, inclusive of CPF employer contributions, amounting to $4,680 ($56,160 per year).
When excluding employer CPF contributions, the average median monthly salary stands at $4,000 (equivalent to $48,000 annually).
Over the period since 2011, Singapore has witnessed a growth of 44.0% in median salary income, representing an average annual increase of 3.7%.
Salary Range: Maximum and Minimum The salary range in Singapore spans from an average of $2,140 to $37,700 per month. These figures represent the maximum average salaries or median gross monthly income. It is worth noting that actual salaries may significantly surpass these amounts.
Increment Percentage for Average Annual Salaries According to Salary Explorer reports, Singapore expects an average salary increase of 9% every 15 months. In comparison, other similar countries typically witness an average salary increment of 3% every 16 months.