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Singapore Salary Guide 2022
The Page Personnel Salary Report is published annually to provide business leaders, hiring managers and job seekers with salary references across various industries in Singapore. This comprehensive salary guide is categorised by job functions, including Banking, Financial Services, Technology, Healthcare, Human Resources, Sales and more.
In the past year, the hiring market has seen an impressive rebound, with companies competing against one another to attract and hire the best talent. Download this in-depth annual report to determine how much you should be paying your employees or how much you could be earning in your career. You may also explore our Salary Benchmark Tool to find out how your salary compares against the market average.
The figures presented in our salary report are derived from our proprietary data and network in Singapore. These include job advertisements and placements made in 2021, incorporating salary projections for 2022. This year, the salary figures are represented by the average in a set of data and are also categorised based on qualifications, experience and company type.
2021 Talent Trends & Salary Survey Recap
In light of the COVID-19 pandemic, we launched our first Talent Trends report to share insights into what organisations are doing for their employees and what employees are job seekers alike are seeking from their employers, how companies can stay competitive in the war for talent, regional and local hiring trends and sought-after skills sets in the job market.
Those results draw from a survey of 12 Asia-Pacific markets, with responses from over 5,500 businesses and 21,000 employees, of which over 3,500 replies are from directors or CXOs.
As we look forward to exciting, new data for our 2022 Talent Trends report, we look back on the highlights in 2021.
Singapore’s Key Statistics
|40%||of companies in Singapore are looking to increase their headcounts in 2021|
|56%||of those employed anticipate themselves looking for new job opportunities, while another 36% is passively open to new ones in 2021|
|1 in 10||expects zero increase from their current salary on a new job offer|
1. Future workplace trends
From our findings, learn about the top priorities for CXOs in 2021, key investment areas in technology and digital tools, employees’ preferences on workplace flexibility, and performance assessment.
2. People-first strategies
From leadership communication to mental health matters, the report highlights the best people strategies to engage your employees.
3. Salaries and bonuses
Find out how your company’s offer for new hires compare against competitors and expectations from job seekers.
4. Attracting and retaining top talent
Remuneration may be crucial, but it is not everything in talent attraction. Learn about the non-monetary aspects of attraction and retention strategy that job seekers value most.
Average salary increases in Singapore for potential new hires in 2021
|Banking & Financial Services||10 - 15|
|E-commerce / Internet||10 - 12|
|Fast Moving Consumer Goods (FMCG)||7 - 12|
|Healthcare & Life Sciences||9 - 14|
|Industrial & Manufacturing||10 - 15|
|Natural Resources & Energy||8 - 13|
|Professional Services||4 - 9|
|Property & Construction||3 - 8|
|Retail||5 - 10|
|Technology||15 - 20|
|Transport & Distribution||6 - 11|
Foreword from our Managing Director: Looking forward to the road to recovery
Managing Director, Singapore
Our Singapore Talent Trends 2021 report reflects vital market insights for the following 12 months. As the economy recovers, investment into the market will flourish, and that would drive the demand for talent amid the business recovery climate.
Businesses had to implement digital practices, such as work-from-home arrangements, to maintain operations during Singapore’s initial circuit breaker period, which has brought upon a surge of demand for technology professionals. This economic rebound has now extended across all crucial technology roles, as data engineers, cybersecurity and machine learning. There is also a rise in e-commerce roles.
Healthcare and life sciences have stood out as a recession-proof industry. We have seen a spike in value-add roles, such as regulatory affairs, quality assurance, scientists and, as of late, commercial roles. There is also a demand for cybersecurity roles, particularly for pharmaceutical companies, which certainly was not on the radar six months ago.
Contracting employment was not widespread and not seen as popular among job seekers before the COVID-19 outbreak, but it has now spiked, particularly across digital, procurement and technology, and is gradually becoming a regular hiring feature.
While companies want to hire the best talent, job seekers have also become more selective, looking for roles aligned with their values, despite the uncertainty in the job market. It is noteworthy that many businesses are thinking ahead. As the situation in Singapore improves steadily, some companies have a surge in opportunistic hires. Therefore, I remain cautiously optimistic – 2021 is looking promising.