Wage structures for expats in Singapore

One of the most important questions when considering a move to Singapore is ‘how much will I earn’.

The majority of expat professionals contemplating a new job consider the salary offered before any other aspects of the country and city. Wages compared with living costs are priorities, especially if the move includes dependents. Whilst it’s not always possible to gauge the exact amount, a rough guide is usually enough to influence a decision either way.

The city state of Singapore is the perfect example of salary versus expenses, as its cost of living is reckoned to be on the high side, as are expense relating to healthcare and education. Salaries vary according to age, profession, experience and qualifications, with certain industries paying more than the going rate to get the brightest and best under their wings rather than working for a competitor.

In Singapore, the average annual salary across the board is $43,645, and the most popular positions are in IT services, banking and education. Software engineers start at $35,376, with senior positions paying up to $68,236 and average wages at $49,824.. Jobs in this sector are fairly easily come by, even although the starting salaries might make living here somewhat of a challenge.

Marketing executive wage levels begin at around $26,000, rising to $48,000 and with an average of $35,000, and account executive positions follow the same trend. Operations managers average $70,231 and top-end executives are comfortably off at a maximum of $124,000, but admin assistants will have an even harder time making ends meet as the top salary is just $37,000 a year.

However, all industries’ pay structures work on a rising scale from junior to senior, dependent usually on years of experience as well as the industry’s pay structure itself. Most Singaporean employers offer a bonus scheme as well as the regular salary, with the overall average around S$ 6,000, although the bad news is that it’s taxable by law. Companies who pay the best wages include Nomura, Wells Fargo, ABC Associates, Goldman Sachs, ING and Mazars.