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Average and Minimum Wages in Singapore: In this post, we will discuss wages in Singapore, also keeping in mind the economic outlook of this wealthy Asian nation
Are you considering moving, working or investing in Singapore? View our data on average and minimum wages in Singapore to understand the economy of this leading Asian nation.
Singapore scores high in ease of doing business as well as standard of living. Let's consider, using minimum and average salary data, why Singapore is one of the most attractive countries in the world for expats and foreign workers.
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Minimum salary in Singapore
Unlike many highly developed countries, Singapore does not have an official minimum wage. This is, in fact, one of the reasons why the country's economy is so dynamic. Its flexible economic policies help Singapore have a very low unemployment rate, just 2.3 percent as of March 2017. However, there are a few exceptions in Singapore where the minimum income applies. The minimum wage in Singapore for cleaners is currently SGD 1,000, or approximately US$750. This indicator is useful for understanding the low market salaries currently available in the Singapore workforce.
Jobs and salaries in Singapore
In terms of GDP per capita, Singapore ranks one of the first in the world. The country's economy is developing rapidly, and in different directions. All this creates enormous competition in the local labor market, especially among foreigners. Nevertheless, any foreign worker, including citizens of the post-Soviet space, can get a job in Singapore.
Jobs in Singapore for Russians and Ukrainians in 2021 are available in the IT sector, tourism, hotel and restaurant business; medical workers, pharmacists, engineers, builders, financiers, bankers, maritime specialists and some other workers are required. It is worth noting that there are not many unskilled jobs in Singapore that are popular among residents of the CIS countries.
Let’s say that finding a job as a nanny on the Singapore labor market is almost impossible; such vacancies are mainly given to Malaysian citizens. Work in Singapore for girls is available in the modeling business, as well as in entertainment venues, bars, nightclubs, for example, dancers are needed. Moreover, the work is quite decent and with decent wages. There is a demand among Russian men for experienced programmers.
The average salary in Singapore in 2021 is about $4 thousand per month. There is no official minimum wage in the country; everything is specified individually in employment contracts. Foreigners can easily count on 2-3 thousand dollars or more, depending on their profession. It's fair to say that day-to-day costs in Singapore are very high.
Average salary in Singapore
The average salary in Singapore is one of the highest in Asia. This fact is easy to understand as Singapore attracts new startups every year and many multinational corporations also have their headquarters in the city. The average salary in Singapore is currently around S$4,500 or approximately US$3,100. If you live in Singapore, this may seem like a pretty high rate, but the cost of living in Singapore is also one of the highest in the world.
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Work in Singapore for Russians in 2021: what do you need to know?
If you want to work in Singapore, then you should apply for a work visa. This is done in your state of residence. To complete the document, you must find an employer in advance, sign an employment contract, and also obtain work permits. There are different types of employment permits depending on your qualifications.
Types of permits for work in Singapore:
- A work visa to Singapore is opened for highly qualified specialists if they have a higher education diploma and work experience in the same field of activity. The salary of such employees is at least $3,600 monthly. Job openings in this industry may include managers, senior managers, and entrepreneurs starting their own businesses in Singapore;
- People with work experience and average qualifications. The salary in this segment is at least $2,200. Employees can find jobs in construction, services and entertainment. It is also not uncommon for people with such qualifications to be employed as domestic staff;
- Trainees and students. In this case, Ukrainians are provided with internship or temporary employment. The average contract term is six months. The salary level is at least $3,000, but there are exceptions. It all depends on the specifics of the job, knowledge and other aspects that are discussed directly with the potential employer.
In addition to the above work permits, there are other grounds for work. These are relatives of migrant workers. These include husbands, children, parents. Foreign students who are officially studying in Singapore can work. The first work permit is issued to those wishing to do so for 1 year with the possibility of extension. Some vacancies have quotas. Working as a programmer and doctor is highly paid.
The most in-demand jobs in Singapore:
- Programmers;
- Medical personnel;
- Engineers;
- Teachers;
- Managers and senior managers;
- Developers;
- Designers;
- Pilots;
- Mechanics;
- Biochemists.
More to read:
What vacancies are there for Russians in Singapore?
What salary do you get in South Korea?
Singapore: economic development prospects
Singapore has a very developed economy and society, often found in the best countries in terms of living standards. The country is also one of the easiest places to do business in the world. Opening a company in Singapore is a fairly quick process. Its high ranking, coupled with a flexible and low tax system, allows Singapore to attract top talent from virtually every work sector. There is also a huge demand for low-skilled workers in Singapore. These jobs are primarily filled by ASEAN nationals and play an important role in the development of Singapore's economy. The country is known as one of the world's largest financial centers and the sector has great opportunities for expats. Other important sectors with good opportunities for foreign workers are: biotechnology and international trade. Since English is one of the country's languages, most of these jobs do not require speaking Chinese or Malay.
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Reviews from immigrants about life in Singapore
On websites, many people leave different reviews about life in the country. Some immigrants are impressed by the cleanliness of the streets and the low crime rate. They say that if you suddenly forget your phone or bag on a bench, no one will take it.
Others cannot get used to the fine system. Administrative offenses are also severely punished here. A person who chews gum, smokes in the wrong place, eats or drinks on public transport will have to pay a high fine. But almost everyone speaks positively about local products and the opportunity to always buy fresh fruit at low prices.
The dream of living in a prosperous and highly developed Asian country can become a reality. This requires good reasons, but nothing is impossible. You can always learn a language, improve your professional skills, or get into a happy marriage. It does take some effort to become a Singaporean with a record standard of living, but it is worth it.
Transport
Driving in Singapore is on the left, public transport runs on schedule and is very well developed. Cleanliness and order are guaranteed by numerous prohibitions and high fines. The entire island is conveniently connected by more than 130 metro stations and buses. The ticket price depends on the distance, usually it does not exceed 2.50 SGD.
A car in Singapore is a real luxury: to purchase it you need a special license valid for 10 years. Licenses are sold at an auction, which is held twice a month, the cost depends on the category of the car and demand. In December 2021, you had to pay 45,000 SGD for the right to drive a category B car.
The cars themselves are subject to a number of registration fees, including a flat 220 SGD, a varying tax from 100 to 180% of the base value of the car at the time of import, 20% excise taxes, several thousand SGD road taxes depending on engine size, etc.
A liter of AI-95 gasoline in December 2021 cost about 2 SGD. The cost of parking as of October 2021 depended on many factors: time of day, day of week, area of the city, type of building to which the territory belongs (public housing, shopping center, hotel, etc.). Billing can be per minute, but more often you pay for every half hour. Thus, in the city center the average cost of parking starts from 2 to 7 SGD for the first hour.
For this reason, people with average incomes actively use taxis, which are called using the Grab and ComfortDelGro applications. For the convenience of residents and tourists, parking lots are organized near popular attractions. The price for the trip is regulated by laws, as indicated by stickers on car windows, and evasion of payment is punishable by a fine of up to 2000 SGD and 6 months in prison. The amount consists of the base fare, mileage and additional fees for baggage, time of day, traffic congestion, boarding and disembarking zones. The cost of a trip for an average distance is about 9 SGD, and from the center to the airport - 21 SGD.
Work in Singapore. Trends in candidate selection by companies
Due to the increase in the number of start-ups in 2021, a large number of jobs will be created for junior professionals who are ambitious and want to work in start-up companies. Technology companies will hire professionals in digital marketing, data analytics, financial software and payment software.
A number of leading insurers in Singapore intend to spend more time in 2021 analyzing candidate data to determine their ability to interpret customer insights through data analytics. Candidates who demonstrate their creative thinking will earn a much higher salary as they will be able to help companies develop better marketing and sales strategies. In addition, experts predict further consolidation in the insurance sector. In 2021, insurance companies will look to expand their presence in Southeast Asia, hence the demand for insurance specialists in all segments will increase. After consolidation, some insurance firms become more powerful and dominant players in the region's market, which, due to rapid expansion, will create new jobs for many young professionals.
Due to the slowdown in Singapore's economy, foreign logistics firms will be looking for employees who have experience in improving the efficiency of the entire supply chain and logistics flows. According to the heads of large companies, this will stimulate economic development by the end of 2021.
Companies will be more careful when choosing a candidate for a management position, as well as when hiring employees of retirement age. Consequently, the period for reviewing applications for vacancies will increase.
In addition, in 2021 the trend remains for an equal ratio of employees of both sexes in the company.
To cut costs, many Singapore firms will increase the number of freelance and part-time workers. Hiring the services of such employees in the long term is more effective in certain situations in terms of economic costs. Firms are looking to complete projects that require a more specialized skill set without setting up a new department within the company, by using the services of qualified freelancers. Also, the growth of this indicator will be influenced by the tendency for specialists in the field of information technology and creative industries to seek a flexible schedule, since financial rewards are no longer the main motivating factor for them to continue cooperation with a particular company. They need space for development and time for personal life. Thanks to online resources such as Upwork and Toptal, freelance work has become much more accessible and attractive, since starting a freelance career requires a computer and access to the Internet.
Apartment and rent
There are three main types of housing in Singapore: HDB, condominiums and mansions. Foreigners can purchase condominiums, but not HDB flats. Purchasing landed properties such as mansions will require government permission.
HDB is public housing in which the apartment consists of 3-5 bedrooms (kitchen, living room and storage room are not considered separate rooms). Rental price for a three-room apartment with an area of 65 sq. m starts from 1700 SGD on the outskirts and from 2200 SGD in the center.
A condominium, or condo, is an apartment complex owned by a private company, with its own protected territory. There is usually a swimming pool, gym, barbecue area, meeting rooms and parking. There may also be tennis courts, golf courses, bowling alleys, a sauna and a jacuzzi. The minimum rental price for a one-bedroom apartment is 1200 SGD on the outskirts and 4000 SGD in the business center, with three - from 2400 to 9000 SGD. In Sentosa, the cost of renting an apartment starts from 6,000 SGD per 100 sq. m. m.
A house, mansion, bungalow is a separate building with its own garage, garden and even a swimming pool. Mostly they offer houses from 500 sq. m. m and more together with the adjacent territory. Depending on the location and newness of the property, mansions cost from 15,000 to 30,000 SGD.
Additionally, when renting, you must pay a deposit - one month's cost of living for each year of the contract.
Housing and communal services costs for an apartment of 85 square meters. m are 150 SGD per month.
Those who are planning to purchase an apartment in a condominium need to know that for 1 sq. m. in the center you will have to pay 21,500–32,300 SGD, and on the outskirts - 8,500–17,200 SGD. The average condo price as of June 2021 was SGD 1,780,050. A one-bedroom apartment costs SGD 1,025,386, while a two-bedroom apartment costs 42% more.
Why go to Singapore
Singapore is attractive for IT specialists due to its technological focus.
The government stimulates the development of new technologies - the number of IT companies here amounts to tens of thousands: from tiny startups to technology giants like Google and Facebook. Companies from Russia also open their offices here. The country's growth is pushing the market to search for specialists day and night. But there are rumors that the policy for expats is changing and the government will reduce the visa quota to improve conditions for Singapore citizens.
Good infrastructure
. The country is a “remake”, there are almost no old buildings, a lot of greenery and shade. Excellent roads, well-developed public transport. At the same time, there are few traffic jams, because a car is a luxury in the country. Owning a car means taxes, fees, contributions, toll roads - very expensive.
High quality of life
. 13th place in the ranking of the most expensive cities. The average salary is 3,000 SGD, but since, due to government policy, almost all indigenous residents have their own housing, people are not homeless, but live well. Most apartments have a swimming pool and gym, good transport system, air conditioning and rain protection systems. Moreover, there are several tens of thousands of millionaires in the city.
Everyone is equal before the law
. Whether a tramp or a billionaire, everyone is responsible according to the law. If only because there are security cameras everywhere in the country, so the likelihood of committing a crime is minimal. This allows you to achieve a high level of security. Visitors don’t commit crimes because they are afraid, but Singaporeans don’t need to - they already live well.
