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For 2026, the Monetary Authority of Singapore is forecasting a somewhat softer 1 to 3% in GDP growth, but incomes usually outpace it a bit and have, over the past decade, averaged 3.9% per year.
What’s more, due to turbulences caused by the pandemic, salaries for many in the local economy have yet to catch up to where they should be, which should boost the averages.
Source: Own computations based on figures published by the Singapore Ministry of Manpower
At this pace (3.9%), the median gross monthly income from employment in Singapore would hit exactly S$6000 in 2026. This would mean that half of Singaporeans (citizens and PRs) would earn at least that much, or more.
It’s also a jump of about 50% since 2015/16, when it was just around S$4,000, and just four years after crossing the S$5,000 mark in 2022.
Of course, these are gross figures, not take-home pay, to arrive at which you have to make relevant deductions accordingly. The reason salaries are usually reported this way (not only in Singapore but worldwide) is to capture all the benefits an employee is receiving. After all, CPF contributions are diverted to your pension, housing, or healthcare bills, saving you out-of-pocket expenses in a slightly roundabout way.
They are still your earnings, just dedicated to specific purposes by law.
S$7,000 by 2030
Barring extraordinary circumstances, like a global economic crisis (which isn’t unlikely given the record bull run in the stock markets, unpredictable impact of Trump tariffs and China’s own economic problems), salaries in Singapore should continue growing at about 3 to 4% per year, which would put them on a trajectory to reach a median of S$7,000 by 2030 and roughly another S$1,000 every four years or so.
If the trends hold, by 2040, half of Singapore would make S$10,000 or more. Let’s hope inflation doesn’t erode the real value of these gains too much
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Yesterday
11:14 PM (23 hours ago)
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They say salary increasing lah