Whether you’re fresh out of school, climbing the corporate ladder, or mid-career and planning your next move, knowing the average and median salary in Singapore can help you benchmark your pay and plan ahead.

But here’s the bigger truth: while how much you earn matters, what really counts is what you do with what you earn. In a high-cost city like Singapore, making your money work harder is key to staying ahead. This is where smart investing comes in.

Table of Contents

• What Is the Median Salary in Singapore?
• What Is the Average Salary in Singapore?
• Average vs. Median Salary: Which Should You Use?
• Median Salaries by Industry in Singapore
• Difference Between Gross Salary and Take-Home Salary
• Why Just Earning More Isn’t Enough
• How to Grow Your Wealth in Singapore, Whatever Your Salary

What Is the Median Salary in Singapore?

Let’s start with the basics. The median salary represents the point where half of the individuals earn more and half earn less.

Say we have 5 employees with the following monthly gross income:

Employee 1: S$2,500

Employee 2: S$3,800

Employee 3: S$4,400

Employee 4: S$5,200

Employee 5: S$8,000

To calculate the median, you would first have to arrange the figures in ascending order, and take the one in the middle. This is also known as the 50th percentile. In the case of the example above, the median income would be S$4,400.

According to the Ministry of Manpower (MOM), the median gross monthly salary for full-time employed residents was S$5,500 in 2024 (including employer CPF contributions). That’s up from S$5,197 in 2023, an increase of about 6% in a year.

Over the last decade, the median income has grown at an average of 3.8% per year in nominal terms, or 2.2% per year after adjusting for inflation. This means pay is slowly rising, but so is the cost of living.

Source: Manpower Research & Statistics Department, as of 28 February 2025

What Is the Average Salary in Singapore?

To calculate the average salary, given the example above with the five employees, you would add up all five of the figures and divide it by the number of employees to get S$4,780. 

The average gross monthly salary in Singapore stood at S$6,282 in Q1 2025, also including employer CPF. Naturally, this is higher than the median because a small group of high-income earners (think C-suites, top bankers, and tech leads) pull the average up.

So if you’re comparing offers or negotiating a raise, the median is often the more realistic benchmark.

Average vs. Median Salary: Which Should You Use?

When it comes to benchmarking your own pay or negotiating, the median salary is usually more practical as it is less affected by extreme outliers, thus providing a more accurate representation of the typical salary.

Median Salaries by Industry in Singapore

In Singapore, salaries generally rise with experience, but only up to a certain point. Data shows that income typically peaks around the age of 45 before levelling off, as people shift roles or plan for retirement.

Industry also plays a big role. Here’s a snapshot of median monthly salaries by industry and occupation in 2024:

Industry	2024 Median Monthly Salary
Financial & Insurance Services	S$8,736
Information & Communications	S$7,605
Professional Services	S$6,900
Public Administration & Education	S$7,032
Manufacturing	S$5,850
Wholesale & Retail Trade	S$5,070
Health & Social Services	S$5,070
Transportation & Storage	S$3,900
Accommodation & Food Services	S$2,974

Occupation	2024 Median Monthly Salary (Including Employer CPF Contributions)
Managers & Administrators	$10,820
Professionals	$8,363
Associate Professionals & Technicians	$4,735
Clerical Support Workers	$3,510
Service & Sales Workers	$3,107
Craftsmen & Related Trades Workers	$3,072
Plant & Machine Operators & Assemblers	$2,683
Cleaners, Labourers, & Related Workers	$2,070

Source: Manpower Research & Statistics Department, as of 28 February 2025

If you’re in finance, tech, or professional services, your earning potential is generally higher. But even if you’re in a sector with lower median pay, what you do with your money can level the playing field over time.

Difference Between Gross Salary and Take-Home Salary

Your gross salary is your pay before deductions. It includes your basic wage, CPF contributions, bonuses, overtime, and allowances. For most Singaporeans, about 20% of your salary goes to CPF, which builds up your retirement nest egg and covers housing and healthcare.

However, CPF alone might not be enough for long-term goals like retirement, your kids’ education, or financial independence. That’s where investing helps you grow your money above what savings and CPF alone can do.

Why Just Earning More Isn’t Enough

Singapore consistently ranks among the world’s most expensive cities. Between housing, kids’ education, caring for aging parents, and inflation, relying only on a paycheck can sometimes feel like running on a never-ending treadmill.

The good news is, with the right plan, you can make your salary work harder, whether you earn S$3,000 or S$10,000 a month.

How to Grow Your Wealth in Singapore, Whatever Your Salary

Here’s how Singaporeans can turn their salary into long-term wealth:

1. Build a Safety Net

Before investing, build an emergency fund covering at least 3–6 months of expenses. This is your buffer against sudden setbacks like job loss or medical bills.

2. Start Small, Start Investing

Once your basics are covered, the next step is to invest consistently. A good rule of thumb? Allocate 10–20% of your monthly income towards investments.

With Syfe, you don’t need a huge starting sum. Here’s how Syfe’s portfolios can help:

• Syfe Income+: For steady passive income through high-quality bonds. Offers a reliable stream of payouts to supplement your salary.
  
• Syfe Core Equity100: 100% equities, globally diversified. Designed for long-term growth. If your goal is to beat inflation and grow wealth over decades, this can be a strong foundation.
  
• Syfe REIT+: Invests in Singapore REITs. Offers local exposure and regular dividends from real estate.
  

3. Stay Consistent and Let Time Do the Work

In investing, time in the market beats timing the market. By investing regularly (even S$200 or S$500 a month), you harness the power of dollar-cost averaging. Syfe’s portfolios handle rebalancing for you, so you don’t have to time the market or pick individual stocks.

Let’s say you earn S$4,500 a month and invest S$500 monthly in Syfe Core Equity100. Assuming an average annual return of 6% (after fees), you could grow your investments to about S$69,000 in 10 years and over S$200,000 in 20 years, just by staying consistent.

Final Thoughts

Knowing the average and median salary in Singapore is useful for career planning. But what you do with your income makes the real difference.

Whether you’re above, below, or right at the median, there’s always a way to make your salary work harder — through disciplined saving and smart, diversified investing.

Ready to make your money work for you? Start with what you can, and build towards the future you want. 

[Start investing with Syfe today]

Read More:

• How Much Do You Need to Retire in Singapore?
• CPF Special Account Closure—What’s Next? 
• Top SRS Investment Options to Grow Your Retirement Savings
• Guide to Supplementary Retirement Scheme (SRS) in Singapore: What It Is and How to Maximise It
• 5 Things Singaporeans In Their 50s Should Be Doing For A More Secure Retirement
• CPF vs SRS Top-Ups: Which to Choose and What’s the Difference?