Have you ever wondered how your salary compares to industry benchmarks as you gain experience? In Singapore, where the cost of living is high and competition is fierce, understanding salary progression is crucial for career planning and financial stability.
We break down the typical salary progression in Singapore based on years of experience, using data from a 2023 study.
We’ll explore how salaries increase over time, whether your current pay aligns with these benchmarks, and what steps you can take to ensure you’re on track for success.
Based on 2023 Fresh Grad Median Gross Salary (S$4,313)
Years of Experience | Salary Increase | Example Salary |
---|---|---|
Below 2 years | Starting salary | S$4,313 |
2 – 5 years | +32% more than <2 years of experience | S$5,693.16 |
5 – 10 years | +36% more than 2–5 years of experience | S$7,742.69 |
10 – 15 years | +21% more than 5–10 years of experience | S$9,368.65 |
15 – 20 years | +14% more than 10–15 years of experience | S$10,680.26 |
20+ years | +9% more than 15–20 years of experience | S$11,641.48 |
Source: The Straits Times Singapore
Now that we’ve reviewed the benchmarks, let’s assess whether your current salary aligns with these expectations:
Experience Level | Target Salary (SGD) | Action if Earning Less |
---|---|---|
Less than 2 years | S$4,313 | Negotiate or explore other opportunities |
2–5 years | S$5,693.16 | Revisit performance or seek new roles |
5–10 years | S$7,742.69 | Upskill or seek leadership roles |
10–15 years | S$9,368.65 | Expand responsibilities or move into management |
15–20 years | S$10,680.26 | Consider lateral moves or explore high-demand industries |
20+ years | S$11,641.48 | Consider consulting, freelancing, or entrepreneurship |
Salary progression in Singapore follows a predictable pattern, but staying on track requires proactive effort. Whether you’re a fresh graduate or a seasoned professional, understanding these benchmarks empowers you to make informed decisions about your career and finances.
Remember, salary growth isn’t just about time — it’s about continuous learning, taking on new challenges, and demonstrating value to your employer.
By staying curious, adaptable, and strategic, you can ensure your salary aligns with your experience and aspirations.
References
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