Disclaimer: Unless otherwise stated, any opinions expressed below are solely the author’s. All data taken from Labor Force in Singapore 2025, released last month by Singapore’s Ministry of Labour.
According to the latest data from the Ministry of Manpower, the number of Singaporean workers (citizens and permanent residents) who are employed full-time and earn an average of S$10,000 per month. (in this case, figures provided by MOM outside employers’ CPF contributions) increased by 31,200 people, reaching 404,900 in just one year.
That’s an impressive jump of 8.3%, after strong GDP growth, reaching 5% by 2025.
This means that 19.3% (about one in five) of the employed residents in the area earn at least S$120,000 a year.
More than a quarter earn six figures a year.
An average of 26%, or just over a quarter of Singapore’s full-time workers, earn S$100,000 or more (about S$8,350 per month).
Who are they? What are they doing?
Now, you must want to know what most people do for a good living, so let’s start by counting by industry—a list, unsurprisingly, led by financial services.
Classification by industry
| Industry | Number of workers earning more than S$10,000 per month | National quota | Industry share |
|---|---|---|---|
| Financial Services and Insurance | 90,600 | 22.4% | 38.5% |
| Public Administration and Education | 56,400 | 13.9% | 20.6% |
| Wholesale & Retail Trade | 53,800 | 13.3% | 16.0% |
| Professional Services | 49,700 | 12.3% | 25.8% |
| Information and Communication | 39,400 | 9.7% | 30.4% |
| Production | 36,000 | 8.9% | 17.1% |
| Health and Social Services | 22,300 | 5.5% | 12.2% |
| Transportation and Storage | 17,200 | 4.2% | 8.2% |
| Building | 11,300 | 2.8% | 10.9% |
| Property Services | 8,400 | 2.1% | 14.3% |
| Management and Support Services | 6,600 | 1.6% | 5.2% |
| Other Public, Community & Personal Services | 4,500 | 1.1% | 5.8% |
| Arts, Entertainment and Entertainment | 3,100 | 0.8% | 8.3% |
| Others | 3,100 | 0.8% | 15.9% |
| Accommodation & Food Services | 3,000 | 0.7% | 2.1% |
The second largest, most generous employer is Public Administrationwhere 20% of workers collect S$10,000 a month or more from work, followed Trade, Professional Services again IT.
The technology sector is also second when it comes to the share of all workers making five figures a month, at about 30%, trailing only behind. Financial Services and Insurancewhere nearly 40% are paid that much.
Classification by age
Naturally, your chances of higher earnings increase with age, with the peak falling in your 40s, although there are still around 100,000 30-year-olds in this category.
Segregation by education
As I reported two weeks ago, university graduates significantly out-earn all other education groups, and it’s evident here as well, with over 85% of top earners having a higher education degree.
That said, not everyone is lost if you are not among them, as there are even a few thousand people who have completed their studies below the secondary level but still have good paying jobs. Statistically, the odds are slim, of course, but depending on your situation, an academic education may not be a requirement for a successful career.
Gender segregation
What is surprising is that men far outnumber women in the number of high earners, comprising more than 60% of the total. However, before you conclude that this is evidence of a gendered pay gap, it remains true that fewer women climb the ladder than men, and fewer still choose to put family life first.
Given that there are more men than women working at any level, we must address this disparity. In their respective groups, 23% of men and about 15% of women are at S$10,000 per month of income, which means that there is still a small gap, but it is not big enough considering the different choices about jobs to suggest systematic discrimination.
Either way, as you can see, attractive pay is very rare in Singapore, and with the right education and the right platform, it attracts more than a small elite.
Furthermore, with a positive GDP forecast for 2026 following a strong 2025, we can expect these numbers to continue to rise, with tens of thousands of Singaporeans joining the S$10,000 club each year.
- Read other articles we have written about the Singapore work environment here.
Featured Image Credit: tang90246/ depositphotos
