Earn $67,200 with new salary hike in Singapore now

Highlights: Professionals and foreign workers will get a hike in their salary

• Singapore is going to set a raise in the salary criteria for foreign professionals from January next year onwards
• If the qualified professionals earn S$5,600 ($4,170) per month, they will get an increased salary of S$5,000.
•  Qualified Financial sector professionals' salary hike would be around S$6,200 from S$5,500.
• Singapore had 197,300 foreign workers on employment passes last year, in June 2023.

 

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Details of the salary hike in Singapore for foreign workers:

Foreigners seeking employment passes need to earn at least S$5,600 ($4,170) per month to get a hike in their salary of S$5,000 from January 2025 onwards.

 

Those from the financial sector will have a qualified salary hike of S$6,200.

 

The increasing salary criteria are to ensure that employment pass holders are high-quality foreign workers.

 

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Singapore Employment passes count in 2022:

Out of 1.5 million foreign workers, Singapore had 197,300 foreign workers on employment pass in June 2022. The country has a population of 5.9 million in total.

 

The salary requirement had increased significantly, from S$4,500 to S$5,000, initiated in September.

 

*Are you looking for step-by-step assistance for Singapore immigration? Talk to Y-Axis, the leading Overseas Immigration Company in Australia. 

 

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Web Story: Earn $67,200 with new salary hike in Singapore now