While recently published job market surveys generally project salaries in Singapore to go up by between 3 and 6%, as ever, it depends on the business you’re in and your role. Labour, after all, is subject to the same laws of supply and demand that determine the prices of the rest of goods and services. Workers in demand are not only paid more but can also expect higher annual increments to keep them from switching to competition.
Once again, we need to take a look into Michael Page’s Salary Guide for 2026, which specialises in recruitment of professionals and has shared its projections for pay raises you can expect this year.
Expected pay raises in Singapore by sector for 2026
Sector
Average expected range
Higher range
Roles in the higher range
Accounting & Finance
4 to 6%
up to 10%
Tax, Risk Management, Sustainability Finance
Banking & Financial Services
5 to 8%
12 to 15%
Compliance, Digital Transformation, Sustainability Finance
Digital
6 to 9%
up to 15%
E-Commerce, CRM, Digital Strategy
Engineering & Manufacturing
10 to 15%
up to 20%
Process Engineering, R&D, Quality Assurance
Healthcare & Life Sciences
10 to 15%
up to 25%
Regulatory, Clinical, and Commercial Leadership
Human Resources (HR)
4 to 7%
up to 12%
HR Business Partners, Total Rewards and L&D Leaders
Senior Executive Assistants and Operations Coordinators
Sustainability & ESG
7 to 10%
up to 15%
Reporting, Decarbonisation and Sustainable Finance
Technology
6 to 10%
up to 18%
AI, Cloud Engineering, and Cybersecurity
Source: Michael Page Salary Guide 2026
As you can see in most areas, the increments start at around what other sources estimated at 3 to 4%. But they vary between industries and specific roles.
Professionals employed in higher demand roles can expect a double-digit raise this year in nearly all cases, from around 10% to as high as 25% in Healthcare & Life Sciences, where high demand and shortage of expertise in critical areas force employers to offer competitive packages to both potential new hires as well as invaluable existing ones.
Skills in demand
The report also lists the Top 5 skills currently in demand in each sector, and even though it doesn’t attach a monetary value or a percentage to any of them, it’s an indication that if it’s something you’re good at, you’re likely to be able to ask for more money than the rest:
4. Digital procurement / planning & automation tools (SAP Ariba, Coupa, o9, Blue Yonder)
5. ESG & sustainable sourcing
Sales
1. Consultative & solution-based selling
2. Go-to-market strategy & pipeline management
3. Strategic account planning
4. Negotiation & stakeholder influence
5. Market mapping & lead generation
Secretarial & Business Support
1. Calendar & stakeholder management
2. Digital collaboration & scheduling tools
3. Communication & professional discretion
4. Event & project coordination
5. Multitasking & adaptability
Sustainability & ESG
1. ESG disclosure & reporting
2. Carbon accounting & reduction strategy
3. Stakeholder & regulatory engagement
4. Impact measurement & data analytics
5. Programme management & change leadership
Technology
1. AI & machine learning implementation
2. Cloud infrastructure (AWS, Azure, GCP)
3. Cybersecurity & threat management
4. Data governance & analytics
5. DevOps & automation frameworks
Source: Michael Page Salary Guide 2026
What you can see is how technology has begun creeping into every field—even those seemingly less technical. If you’re not required to know a specific tool or programming language, then you at least have to be competent in data analytics (which usually forces you to become even more technical with time).
AI may seem to be threatening human jobs, but as it stands, those humans who know how to use machines are still in the highest demand.
Read more stories we’ve written on the latest job trends here.
