The income scale in Singapore can be broadly categorized into different income groups, which reflect varying levels of earnings. While specific income ranges may change over time, I can provide a general overview of the income scale in Singapore based on common classifications:
- Low-Income: This group generally represents individuals or households with lower earnings. Low-income individuals typically earn salaries below the median income level in Singapore. They may be eligible for government assistance schemes and subsidies to support their basic needs.
- Middle-Income: The middle-income group comprises individuals and households with moderate earnings. They earn incomes around or slightly above the median income level. Middle-income individuals often have relatively stable employment and may have access to a range of social and financial resources.
- High-Income: The high-income group consists of individuals and households with higher earnings. They typically earn salaries significantly above the median income level. High-income individuals often hold senior or specialized positions in professions such as finance, law, medicine, or business.
It’s important to note that the income scale in Singapore is not rigidly defined, and there may be some overlap or variation in income categorizations based on different sources and studies. Income classifications can also be influenced by factors such as education, occupation, work experience, and industry.
Furthermore, Singapore’s government has implemented various measures to address income inequality and uplift the well-being of low-income households. These efforts include progressive taxation, targeted assistance schemes, and promoting skills upgrading and educational opportunities for individuals to enhance their earning potential.