Singapore Median Income: What Today’s Numbers Really Mean for Singapore’s Workforce 

Introduction: Why Understanding Singapore’s Median Income Is Crucial for Today’s Employers 

In a rapidly shifting economy — one shaped by inflation, industry restructuring, and rising expectations from younger workers — understanding the Singapore median income is no longer just a labour statistic. It has become a crucial decision-making tool for HR leaders, finance managers, and business owners trying to maintain fair compensation without compromising sustainability. 

This is where the conversation begins. 

What Exactly Is Singapore’s Median Income — And Why Is It the Most Reliable Benchmark? 

The term “median income” is often misunderstood. Many people relate it to “average salary,” but the two aren’t interchangeable. 

The median represents the midpoint of all full-time employed residents — where half earn more and the other half earn less. Because it isn’t pushed upward by high-earning outliers, it offers a realistic picture of what the majority of workers bring home each month. 

According to the Ministry of Manpower (MOM), the median gross monthly income for full-time employed residents — including employer CPF contributions — reached S$5,500 in 2024. 

This number has become a useful anchor for companies trying to keep their compensation policies fair, competitive, and in line with real economic conditions. 

Singapore’s Latest Median Income Figures (2024–2025) 

The recent numbers reveal a clear upward trend: 

• S$5,500 median gross monthly income in 2024 

• A 5.8% increase from 2023’s S$5,197 

• Over the last decade, a 45.9% increase in median income 

• Real (inflation-adjusted) annualised growth of ~2.2% from 2014 to 2024 

On the household level: 

• Median monthly household income from work rose to S$11,297 in 2024 

• Real household income rose 1.4% after inflation in 2024 

Altogether, these numbers paint a picture of a workforce whose earning power has grown — but not at the same pace as cost-of-living pressures. 

Who Earns What: Median Income by Age & Life Stage 

Digging deeper, MOM data shows that median gross incomes vary across age groups, reflecting career progression, experience and sector mobility.  

From the table, it’s clear that median earnings tend to peak around age 45–49, before tapering off as workers approach retirement — a pattern common in mature labour markets.  

For businesses: this insight can guide compensation strategies across different employee lifecycle stages — from younger hires to senior professionals — and help set realistic salary bands. 

Why Employers Should Care: What Median Income Means for HR, Payroll & Retention 

Understanding median income is not an academic exercise. For organisations, it directly impacts: 

1. Salary Benchmarking 

Median income gives employers a grounded starting point. 
For example: 

• Fresh graduates and early-career hires expect around S$3,000–S$4,000 (varies according to industries) 

• Mid-career professionals fall between S$6,000–S$7,500 

• Senior workers in their peak-earning age expect S$7,000+ (varies according to industries) 

Companies that benchmark too far below these medians risk losing talent — especially in a tight labour market.  

2. Compensation and Pay Raises 

A decade of rising wages shows that Singapore employees expect incremental growth. Even modest increases signal appreciation and competitiveness. 

But inflation must be considered. Because median income grew only 2.2% per year in real terms between 2014–2024, pay raises that don’t meet inflation effectively reduce an employee’s real buying power. 

3. Fair Pay Practices 

With increasing attention on workplace transparency, employees want to know if their compensation is fair. 
Using median income as a reference helps employers justify salary bands, retain trust, and prevent wage compression. 

4. Multi-Earner Households 

With median household income above S$11,000, benefits like dependent support, flexible work arrangements, or parental perks play a bigger role in retention — especially for dual-income families navigating childcare and eldercare. 

Beyond the Numbers: What Median Income Doesn’t Reveal 

While median income is helpful, employers shouldn’t rely on it blindly. 

Here’s what the median figure doesn’t show: 

• Industry Differences – Tech, finance, and engineering sectors typically outpace national medians. 
  Retail and hospitality may fall below them. 

• Role-specific Skills – Niche or technical jobs can far exceed median ranges. 

• Take-home Pay vs. Gross Pay – Median figures include employer CPF contributions, so real disposable income can appear lower than the headline figure. 

• Cost of Living Pressure – Even with income growth, housing, childcare, and transportation costs influence real financial well-being. 

Employers who plan compensation must consider the median as a starting point — not the final word. 

How Info-Tech HRMS Helps Companies Make Sense of Salary Benchmarks 

Many HR teams struggle to translate data into action. That’s where Info-Tech HRMS makes a practical difference. 

With Info-Tech HRMS, organisations can: 

• Build salary bands aligned with Singapore median income data 

• Analyse pay gaps against national benchmarks 

• Automatically calculate CPF contributions (a major factor in gross income) 

• Generate payroll reports that capture both gross and take-home pay 

• Maintain compliance with MOM standards and salary-related guidelines 

For companies growing quickly — or those unsure how their internal pay scales compare with national medians — these tools provide clarity, structure, and confidence. 

Conclusion:  

The Singapore median income is more than a figure published by MOM each year. It reflects the pulse of the workforce — how people are progressing, what they expect, and where employers stand competitively. 

For HR managers, business owners, and payroll teams, it’s a compass. It guides salary structures, talent strategies, and long-term workforce planning. 

When paired with a data-driven solution like Info-Tech payroll software, organisations can turn these insights into meaningful action — from transparent pay structures to accurate payroll and informed budgeting. 

Fair pay is not just good HR practice. In today’s labour market, it’s a competitive advantage. 

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