Switching jobs is a common strategy for professionals in Singapore to get a salary increment and advance their careers. On average, professionals can expect a 12% to 25% salary increment by changing jobs, especially in the case of high-demand roles.
If you are seeking a salary increment through a job change, understanding what constitutes a fair increment would be helpful to negotiate better and make an informed decision. The article discusses how much increment in salary professionals can expect by switching jobs in Singapore.
Also Read: How to Start a Career in Data Science in Singapore
Factors Influencing Salary Increment in Singapore
Below are the key factors influencing an increment in salary for professionals in Singapore:
Industry and Sector Variations
Salary increments vary significantly across sectors. High-growth industries like technology, finance, and healthcare often offer higher increments due to talent shortages and evolving market needs.
Experience and Seniority Levels
Mid-level and senior professionals tend to receive higher increments compared to entry-level workers. Greater responsibilities and proven track records often translate into stronger negotiation power.
Skills and Specialisations
In-demand skills in data analytics, AI, cybersecurity, and cloud computing can command premium salary hikes. Employers are willing to pay more for niche expertise and certifications that align with business goals.
Certifications to Boost Salary
Credentials like certifications can enhance your earning potential and validate your expertise, making your CV more attractive to employers seeking specialised skills. Certifications also enhance your credibility and give you a competitive edge during salary negotiations.
Power of Negotiation
Knowing your worth and positioning yourself well can drive better offers. Market Knowledge and personal branding can also help here. Effective negotiation is a key to unlocking a significantly higher salary during a job switch.
Also Read: Salary Secrets of Singapore Marketing Stars Revealed
Average Salary Increment Statistics in Singapore
General Overview
In 2024, Singapore’s median salary increment was 4.2%, slightly up from 4.1% in 2023. It reflects the country’s economic growth and efforts to remain competitive amid inflationary pressures. Looking ahead to 2025, salary increments are expected to range between 2% and 5%, with variations across different sectors. Companies are looking at targeted salary increases, and salary increments are likely to rise in 2025 compared to 2024.
Comparison Across Job Roles
Salary increments vary significantly across industries and job roles:
- The Technology and Manufacturing industry is anticipated to lead with salary increases, driven by high demand in cybersecurity, AI, and machine learning areas.
- Professionals in the retail, consulting, and life sciences sectors are expected to see varying percentages of salary increments, depending on their roles and experiences.
- Transportation and financial services sectors are projected to see modest yet steady salary increments, reflecting stable growth and evolving talent needs.
Furthermore, professionals in strategic or niche roles, such as those in sales and marketing or accounting and finance, as well as emerging technologies like artificial intelligence, cloud computing, and cybersecurity, are likely to experience higher salary increments, ranging from 10% to 15%, especially when changing jobs.
Also Read: Average MBA Salaries In Singapore: What To Expect In 2025 And Beyond
Strategies for Maximising Salary Increment
Negotiation Tips
Research market salaries and present your value confidently while negotiating your salary. Clear communication and showing how to impact business goals often leads to better outcomes.
Professional Development
Upskilling through certifications in data science, AI, cloud, and leadership can significantly enhance your resume. Continuous learning indicates your high ambition and lets you seek higher compensation.
Build a Strong Personal Brand Online
Use platforms like LinkedIn to optimise your profile and showcase your talent, industry contributions, etc., to increase visibility and attract higher-paying offers.
Target High-Growth Companies and Sectors
Apply in industries like technology, biotech, and green energy, which are expanding rapidly and pay above-average hikes.
Also Read: Top Industries in Singapore Looking for DBA Graduates
Conclusion
Securing a salary increment through a job change in Singapore demands the right skills, market awareness, confidence, and the right timing. Upskilling is one of the most effective ways to boost your earning potential.
With upGrad’s industry-aligned online programs and certifications in data science, AI, project management, business analytics, PMP, CBAP, online MBA, and more, professionals can stay competitive and command higher salaries in today’s dynamic job market. Take the next step in your career growth with upGrad by exploring the relevant certifications below:
Take a look at a few relevant certification courses and programs to choose from:
- Post Graduate Diploma in Management (E-Learning)
- Advanced Certificate in Digital Marketing and Communication
- Post Graduate Certificate in Product Management
- Professional Certificate Programme in HR Management and Analytics
- Master of Science in International Accounting and Finance (Accredited by ACCA, UK)
- Master of Business Administration (Edgewood College)
- Master of Business Administration from Liverpool Business School
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FAQs on Salary Increment Can You Expect for a Job Change in Singapore
Q: What is the average salary increment when switching jobs in Singapore?
Ans: Professionals in Singapore can expect a 12% to 15% salary increment when switching jobs. In high-demand roles or with niche skills, this can go up to 20-25% or more.
Q: Which industries in Singapore offer the highest salary increments for job changers?
Ans: The technology sector, legal, sales, and marketing are among the top industries in Singapore that pay high salary increments for a career switch.
Q: Is it better to switch jobs frequently for higher salary growth?
Ans: Switching jobs frequently can potentially lead to higher salary growth, however, it is not a guaranteed strategy and comes with its own drawbacks, as it can signal a lack of commitment to employers.
Q: How can I negotiate a better salary during a job change?
Ans: Know your value and explore the standard pay offered to someone with your educational qualification, experience, and skills. Research how much other companies in the industry are paying before you negotiate for a mid-career switch.
Q: Do certifications and professional courses impact salary increments in Singapore?
Ans: According to a report from the International Labour Organisation (ILO), certified professionals can expect up to 30% more salary than others. Hence, certifications and professional courses do impact salary increments in Singapore.
Q: What should I consider beyond salary when changing jobs?
Ans: The total compensation package, work-life balance, career advancement opportunities, company culture, and growth potential are some other crucial factors to consider beyond salary when considering a mid-career change.
