Salary hike to stay modest in 2025 for S’porean workers: Aon

The attrition rate rose to 16.7% YoY this year.

Singapore's salary growth is expected to stay modest at 4.4% in 2025, marking the lowest increase in Southeast Asia.

Aon’s 2024 Salary Increase and Turnover Study showed that Singapore and Thailand (4.7%) have the lowest budgeted salary increases in 2025

Meanwhile, salary increases in other parts of the region are projected at 6.7% for Vietnam, 6.3% for Indonesia, and 5.8% for the Philippines.

In Singapore, the consulting, business, and community services sector leads with a projected 5.7% increase, while other industries are more restrained.

The study also shows an increase in attrition rates in Singapore, rising slightly to 16.7% YoY in 2024, as companies grapple with talent retention challenges. 

The consulting and business services sector sees the highest attrition, while technology maintains a steady rate of 15.1%.