2024 Singapore Salary Guide | RGF Professional Recruitment Singapore

About the Singapore Salary Watch Report

The RGF Singapore Salary Watch report has been conducted with the aim of better understanding the salary trends and data across all industries and job levels in Singapore. This report is based on the RGF-owned talent pool covering close to 10, 000 candidates. (collected from Nov 2022 to Dec 2023).

Key Salary Figures & Hot Jobs by Sector in Singapore

Learn about the average salaries received by talent and the increase employers are willing to give each of the different industries. The report also highlights "Hot jobs" with projected salary increments when switching jobs, along with the sought-after skills employers are looking for.

Projected Salary Increments for the hot jobs of 2024

Explore our Singapore salary guide, offering in-depth insights into salary trends and hiring strategies across key sectors including Consumer Goods, Industrial, Healthcare & Life Sciences, Financial Services, Corporate Services, and Technology & Digital.

Gain valuable information not only by industry, but also by function and specific roles, empowering you to make informed decisions in today's competitive job market.

Message from our Managing Director

Singapore's employment landscape for Q1 2024 is projected to be conservative due to economic uncertainties, leading to cautious hiring by clients. Job seekers are also hesitant to change jobs amidst market instability and would prioritse job securities. However, despite an overall conservative environment, some specific sectors such as Manufacturing, Electronics, Electronics, Research & Development (R&D) are expected to expand. Salary increments are expected to be stable. A gradual recovery in the job market is forecasted for the second half of 2024 as economic conditions stablise. With the insights provided into various sectors in Singapore's job market, we hope this report will be a useful resource.

As Managing Director of RGF Talent Solutions Singapore, I would like to take this opportunity to thank you for your continued support and look forward to your continuous cooperation and collaboration. At RGF Talent Solutions Singapore, we aim to be your trusted partner and are committed to helping you identify and recruit the best talent in the Singapore market. Please feel free to look for myself or any of our Recruitment Consultants to discuss the report's findings in detail and how we could further assist you.

Yours Sincerely,
Romikka Ganguly
Managing Director
RGF Talent Solutions Singapore

FAQ About Our 2024 Singapore Salary Guide

Where is RGF Singapore's salary data from?

Our salary data is obtained based on RGF-owned talent pool information across various industries and job levels in Singapore. The definition of annual basic salary has been used throughout the report and does not include allowances, stocks, bonuses or any other additional benefits.

Why should I use a salary guide?

For employers, a salary guide is a valuable tool for budget planning. It enables companies to forecast and allocate resources effectively to attract and retain top talent.

For job seekers, using a salary guide, you can have insights into the prevailing market rates for various job roles and industries in Singapore. This allows you to compare your current salary against industry averages.

With in-demand skills and the latest jobs also included in the report, these information can also help both employers and job seekers to stay updated on the latest evolving market trends in Singapore.

What does the in-demand skills mean?

These are the latest expertise that are highly sought after by employers within the job role indicated. Candidates who have these in-demand skills are likely to have a competitive advantage in the job market and may have more opportunities for career advancement and higher salaries.

What is salary benchmarking?

Salary benchmarking is the comparison of salaries offered by a company for specific job roles against similar positions in other companies. By benchmarking salaries in Singapore, it helps companies understand if their salaries are competitive enough to attract and retain skilled employees. It also provides valuable insights for budgeting and planning purposes