Disclaimer: Unless otherwise stated, any opinions expressed below belong solely to the author. Data sourced from Michael Page’s Salary Guide Singapore 2026.
While recently published job market surveys generally project salaries in Singapore to go up by between 3 and 6%, as ever, it depends on the business you’re in and your role. Labour, after all, is subject to the same laws of supply and demand that determine the prices of the rest of goods and services. Workers in demand are not only paid more but can also expect higher annual increments to keep them from switching to competition.
Once again, we need to take a look into Michael Page’s Salary Guide for 2026, which specialises in recruitment of professionals and has shared its projections for pay raises you can expect this year.
Expected pay raises in Singapore by sector for 2026
SectorAverage expected rangeHigher rangeRoles in the higher rangeAccounting & Finance4 to 6%up to 10%Tax, Risk Management, Sustainability FinanceBanking & Financial Services5 to 8%12 to 15%Compliance, Digital Transformation, Sustainability FinanceDigital6 to 9%up to 15%E-Commerce, CRM, Digital StrategyEngineering & Manufacturing10 to 15%up to 20%Process Engineering, R&D, Quality AssuranceHealthcare & Life Sciences10 to 15%up to 25%Regulatory, Clinical, and Commercial LeadershipHuman Resources (HR)4 to 7%up to 12%HR Business Partners, Total Rewards and L&D LeadersLegal5 to 8%12 to 15%Regulatory, Privacy, Technology CounselMarketing10 to 12%15 to 20%Growth Marketing, Brand Strategy, CRMProcurement & Supply Chain3 to 8%8 to 12%Strategic Sourcing, Supply Planning, SustainabilitySales12 to 15%up to 20%Enterprise, SaaS, Key Account SalesSecretarial & Business Support4 to 6%up to 10%Senior Executive Assistants and Operations CoordinatorsSustainability & ESG7 to 10%up to 15%Reporting, Decarbonisation and Sustainable FinanceTechnology6 to 10%up to 18%AI, Cloud Engineering, and CybersecuritySource: Michael Page Salary Guide 2026
As you can see in most areas, the increments start at around what other sources estimated at 3 to 4%. But they vary between industries and specific roles.
Professionals employed in higher demand roles can expect a double-digit raise this year in nearly all cases, from around 10% to as high as 25% in Healthcare & Life Sciences, where high demand and shortage of expertise in critical areas force employers to offer competitive packages to both potential new hires as well as invaluable existing ones.
Skills in demand
The report also lists the Top 5 skills currently in demand in each sector, and even though it doesn’t attach a monetary value or a percentage to any of them, it’s an indication that if it’s something you’re good at, you’re likely to be able to ask for more money than the rest:
What you can see is how technology has begun creeping into every field—even those seemingly less technical. If you’re not required to know a specific tool or programming language, then you at least have to be competent in data analytics (which usually forces you to become even more technical with time).
AI may seem to be threatening human jobs, but as it stands, those humans who know how to use machines are still in the highest demand.
Read more stories we’ve written on the latest job trends here.
Also Read: Job security in Singapore: Industries offering the most stable employment, rated by S’poreans
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