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

Highlights: Salary hike in Singapore for foreign executives

• Singapore plans to raise the salary criteria for foreign executives and professionals starting in January '25.
• To qualify for the new salary hike, employees must earn a minimum salary of S$5,600 monthly.
• The qualifying salary for employees in the financial sector is to increase to S$6200 from S$5500.
• The new salary hike aims to promote high-quality recruitment.

 

*Willing to work in Singapore? Let Y-Axis help you with the steps.

 

New Salary Hike in Singapore

The Government of Singapore announced a raise in the salary criteria for foreign workers in Singapore. Companies hiring foreign executives starting January 2025 will experience a new salary hike.

The minimum qualifying salary to apply for employment passes increased to S$5600 from S$5000. Employees in the financial sector will need to earn at least S$6200 instead of the current requirement of S$5500.

 

*Looking for jobs in Singapore? Avail Y-Axis Job Search Services for personalised job support. 

 

Foreign workers in Singapore

According to recent data from June last year, Singapore reported 197,300 foreign employment pass holders among the total foreign workforce of about 1.5 million. The total population of Singapore is reported to be 5.9 million.

The salary threshold for foreign workers increased three times after the 2020 pandemic. The salary floor for hiring foreign workers has increased from S$4500 to S$5000 in September last year.

 

*Planning to migrate abroad? Y-Axis is here to help you with the complete immigration assistance. 

 

Singapore work visa

Singapore offers several work visas for trainees, students, and skilled and semi-skilled workers. 

You can follow the steps given below to apply for a Singapore work visa:

Step 1: Choose the type of work visa according to your preferences 

Step 2: Check your eligibility for the visa. 

Step 3: Look for jobs in Singapore

Step 4: Arrange the required set of documents as per the checklist provided

Step 5: Get an In-Principle Approval (IPA) letter and fly to Singapore

 

 

*Are you looking for step-by-step assistance for Singapore Immigration? Talk to Y-Axis, the leading visa and overseas immigration company in the UAE!

For recent immigration updates, do check out Y-Axis Immigration news!

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