Disclaimer: Unless otherwise stated, any opinions expressed below belong solely to the author. Data sourced from the Singapore Ministry of Manpower’s Report on Wage Practices 2025 released on May 28, 2026.
While the Ministry of Manpower (MOM) already provided details on average and median salaries in Singapore a few months ago, we have only just received a complete breakdown by industry.
While the median of S$5,775 represented a 5% increase over 2024, it is quite understandable that it doesn’t apply to every person or every business. It’s the nature of the economy that not all industries are doing equally well at all times.
So, where does it pay to work? Here’s what the data says about the past two years:
| Industry | Salary growth in 2024 (%) | Salary growth in 2025 (%) |
| Administrative & Support Services | 8.70% | 7.50% |
| Insurance Services | 4.90% | 6.60% |
| Financial Services | 6.70% | 5.90% |
| Real Estate Services | 5.30% | 5.30% |
| Professional Services | 5.30% | 5.10% |
| Community, Social & Personal Services | 5.70% | 5.00% |
| Transportation & Storage | 5.50% | 4.90% |
| Information & Communications | 5.10% | 4.70% |
| Retail Trade | 5.50% | 4.40% |
| Wholesale Trade | 4.20% | 4.40% |
| Manufacturing | 5.10% | 4.10% |
| Construction | 5.50% | 4.00% |
| Accommodation | 5.50% | 3.90% |
| Food & Beverage Services | 4.80% | 3.90% |
Administrative & Support Services are leading the rankings, having recorded an average of 7.5% raises in 2025—almost twice the rate of the slowest industries: Accommodation and F&B Services.
Those in the most lucrative industries, like Finance or Insurance, have reasons to be happy too, though that is hardly a surprise. But cumulatively, across two years, both have still been outperformed by support staff.
Between one and two months’ worth of raises
When cumulative salary growth across 2024 and 2025 is taken into account, the rankings shift slightly. The most notable change is in Wholesale Trade, which falls to the bottom of the table.
This could change in the near future, however. The ongoing electronics manufacturing boom has fuelled a surge in trading activity, making wholesale trade one of the fastest-growing and most optimistic industries heading into 2026.
With wages rising by close to 17% since 2023, workers in Administrative & Support Services have effectively gained the equivalent of two extra months of their 2023 salary.
Meanwhile, those at the bottom of the list, while not doing quite so well, have seen cumulative wage growth of around 8–9%, equivalent to roughly one additional month of 2023 income. Not great but not too bad.
What to expect in 2026?
As I reported here two weeks ago, Singapore’s economy is currently marred by pessimism resulting from the uncertainty caused by the war with Iran and the disruptions to global trade and energy sectors.
This is despite the fact that the economy is doing well, having jumped by 6% in Q1, and this growth wasn’t limited to AI-related sectors only.
However, because the economic fallout from the war is not yet known, employers are likely to be careful when it comes to offering salary increments.
The only workers who could reasonably expect wage growth are those in electronics manufacturing and, finally, wholesale trade. After a couple of thinner years, they should receive a boost in 2026, given the ongoing AI rally. They are also likely to see much more generous bonuses, especially after witnessing generous deals agreed in Taiwanese and Korean semiconductor companies (like Samsung).
It might not always translate into a permanent salary raise, but the windfall bonuses should be quite significant this year amid record profits.
Singaporeans employed in other industries, however, might have to wait for the fighting in the Middle East to stop before they get a pay bump.
- Read other articles we’ve written on Singaporean businesses here.
Featured Image Credit: rochu_2008/ depositphotos
