Impressive infrastructure, an awe-inspiring city skyline, a multicultural environment, and low crime rates are just some of the things that draw expats towards life in Singapore. Backed by diverse employment opportunities with incredibly competitive salaries, professionals have been flocking to this cultural melting pot.
At Allied, our international movers Singapore team has helped countless professionals with their move, and can help you, too.
Before planning your leaving party and booking your flights, however, you may want to consider where your line of work falls in terms of expat salaries in Singapore. As these vary between industries and levels of seniority and experience, it’s important to start this journey with realistic expectations of your earning potential.
Singapore’s Booming Sectors
Singapore has always been a global hub for trade, with evidence of this dating back to the 12th century. It comes as no surprise that the country remains one of the leading global trade hubs today, which is just one of the many attractive reasons to move to Singapore. The employment opportunities here span industries, with manufacturing considered to be Singapore’s largest sector. Biotechnology and pharmaceuticals are also dominant areas, as well as logistics, transport engineering, and the service sector. Particularly pertinent for expats in Singapore, the banking, finance, and international trade industries commonly welcome newcomers to pursue their profession here.
Factors Affecting Pay
Your salary in Singapore will be dependent on a number of factors. These include your industry, the position you will be starting in, your experience and seniority coming into the role, and your level of education.
Here, Bachelor’s degree holders earn, on average, about 24% more than Diploma holders, while those with a Master’s degree can expect to pocket 29% more than their counterparts with a Bachelor's degree.
The Pay Scale
The average salary in Singapore is reported to be approximately S$70,000, with expats earning an average of closer to S$120,000. As in any country, this can vary largely on a case-by-case basis, but it’s safe to say that expats here can be quite high-earning. Professionals working high on the corporate ladder in financial roles tend to have the highest earning potential.
Cost of Living Comparison
When looking at expat salaries in Singapore, it’s a good idea to bear the cost of living in mind, too. Singapore is the most expensive country in Asia to live in, and many expat salary packages do not include living expenses or allowances. So if you’re thinking of relocating to Singapore for work, you should factor this into your salary negotiations. For the average single person, the monthly cost of living is estimated to be around S$7,000, with the average rent coming in at over S$3,500 for a one bedroom apartment. For more information on rent and accommodation in Singapore, check out our guide to renting in Singapore for expats.
Working as an Expat in Singapore
Singapore has a number of different work permits and passes for expat workers coming to pursue employment. For Specialist roles, the Employment Pass is usually the appropriate option, while mid-level professionals generally require an S-Pass. For some skilled workers, a Work Permit is the suitable choice. Be sure to research and apply for the correct work pass or permit in Singapore and get it approved before you finalise your travel plans.
If you want to take the move as an opportunity for a company or career change, the Singaporean government offers plenty of online jobs guidance resources, too.
Get in Touch with Allied
When it comes time to make the leap and relocate to Singapore, our Allied international experts can help to take some of the weight off. You can contact the Allied Singapore team today to begin planning your big move!