What are the average salaries you can expect in Singapore?
Singapore is one of the fastest growing city in the world. To be more accurate, Singapore is the 3rd richest country in the world according to the Gross Domestic Product per capita. Taking all these valid information on its development status, questions remain about how much one should make in a month on an average to survive in Singapore.
Well, the answer might differ a little depending on the number of people in a household as well as the non earning member’s dependency on the earning member. Some of the most important factors that have to be considered here are Singaporean wages that have been continuously steady over the years.
Monthly Wages In Singapore
On an average, based on the World Cost Of Living Calculator the average salary of a Singaporean is around $ 5,943. However, the median salary is SGD 3,770. This just means Singaporeans need to work more to meet their average salary earnings per month. Here’s an average salary guide for some of the most common job sectors of Singapore.
|Job Sector||Average Salary (SGD/Month)|
|Accounting & Finance||2,115-8,000|
|Health-care & Life Science||2,573-15,435|
|Procurement & Logistics||1,600-14,200|
Here is the simple assumption of how much you need on an average salary every month to lead a decent life.
Note: This calculation differs from individuals, a number of kids and non-earning members.
For Example, if the salary is around SGD 2,500 the basic expenditure on an average would be:
|Expenditure Every Month||SGD|
Expatriate Salary Packages In Singapore
Singapore has always had a good expatriate count over the years compared to other countries. The number of expatriates has been steadily increasing because of their salary packages.
According to a recent survey conducted in 2017, Singapore is the ninth highest expatriate paying country in Asia Pacific region. For example, for a middle-aged experienced expatriate, the average salary is around SGD 333,465.12
However before planning to move to a country, especially as an expatriate it is recommended to consider few main factors such as cash salary, accommodation, loan allowances, school facilities and tax. Taking all these to considerations Singapore has always offered the best expatriate salary package to the expatriates who have settled down over the years.
Other than this one of the outstanding aspects of Singapore’s financial growth is their Common Provident Fund. This has made them stronger competing for the other nations as most of the countries like the US, European countries struggle with their pension system. The country of self-reliance is expected to be the richest country in the world by 2050.Hope this post has given you an idea of average salary and expenditure of living in Singapore.
For your information, here’s a widget to help you get an idea of the conversion rates between your money of choice and Singaporean dollars :