Stagnant pay and slow raises frustrate Singapore’s workforce: report

Industry constraints and tech disruptions weigh on pay trends.

In Singapore, 35% of working professionals are dissatisfied with salary growth opportunities, foundit reported.

Notably, executive-level professionals show the highest dissatisfaction (39.4%) with salary growth.

Meanwhile, 37% remain neutral, indicating mixed perceptions about compensation structures, and 28% express satisfaction, but satisfaction levels decline as professionals advance in their careers.

According to foundit, industry constraints are seen as key influencers of pay by 18.8% of respondents, while 16.2% recognise tech-driven disruptions as significant factors affecting wages.

When it comes to salary perceptions, entry-level professionals are the most optimistic, with 46.9% reporting they earn above industry standards.
Mid-level professionals are the most dissatisfied, with 57.9% reporting their salary is below market standards.

Meanwhile, 53% see opportunities for higher compensation compared to industry peers and 36% feel their salary is above average, while 11% are unsure how their pay compares to market rates.

The report also found that nearly half (49.37%) of employees expect no growth or a maximum 10% salary hike in their next review, while 24.5% anticipate a 6–10% increment and 24.8% foresee just 0–5% growth.

While 16% of professionals aim for substantial increases exceeding 30%, 34.9% of entry-level professionals expect 6–10% hikes, and executives (25.7%) top the group anticipating raises of 30% or more.

In addition, while 30.1% of professionals believe in-demand skills significantly impact salaries, 24.9% see macroeconomic factors shaping pay scales.

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