In 2025, Singapore’s recruitment and salary trends reflect a dynamic job market influenced by technological advancements and strategic economic initiatives.

Recruitment Trends

Employers are actively seeking professionals in sales, business development, technology, and digital transformation. A survey revealed that 45% of employers anticipate increased demand for revenue-generating roles, while 23% focus on technology talent. Additionally, 13% are targeting experts in digital transformation and AI.

The technology sector, in particular, is experiencing significant growth. There’s a high demand for roles in AI, cloud computing, cybersecurity, and database management. This competitive market has led to a shift towards contract positions, offering flexibility for both employers and professionals.

Notably, the financial sector is undergoing transformations. DBS Bank is expanding its wealth management division to attract affluent clients, adding 80 relationship managers in 2024 and planning to recruit at least 30 more in 2025.

However, challenges persist, as evidenced by the exodus of ANZ’s credit trading team in Singapore to Standard Chartered, following a lackluster bonus season.

Salary Trends

Salary increments in Singapore for 2025 are projected to range between 2% and 5%, according to HR firms. This range indicates a moderate increase, with variations across different sectors.

The average annual salary for full-time workers in Singapore is approximately S$70,000, equating to a monthly salary of about S$5,783.

However, salary expectations vary by industry and experience level, making it essential for professionals to stay informed about current market rates.

Economic Outlook

Singapore’s economy is influenced by global dynamics. The nation is expected to feel the impact of rising global tensions, particularly the competition between the United States and China. These geopolitical factors may affect Singapore’s growth prospects, prompting the government to implement measures supporting workers and businesses

Technology Sector

In 2025, the technology sector remains a powerhouse for recruitment in Singapore, with high demand for roles in fields such as Artificial Intelligence (AI), Cybersecurity, Cloud Computing, and Data Science. These roles are particularly sought after by both multinational corporations and tech startups.

• Salary Trends:

  • Professionals in software development, AI engineering, and cybersecurity are seeing salary increases of 5-10% compared to previous years.
  • The demand for data scientists and AI specialists has pushed salaries to an average of S$80,000-S$120,000 annually, depending on experience and expertise.
  • Companies are also offering attractive perks, including remote work options, flexible hours, and bonuses tied to performance.

• Recruitment Trends:

  • There is a noticeable shift towards contract and freelance roles, with tech professionals preferring more flexibility in their work arrangements.
  • Many organizations are hiring for digital transformation specialists, as industries across Singapore continue to upgrade their systems and leverage new technologies.

Financial Services

The financial services sector in Singapore has witnessed both growth and challenges in recent years. While there’s continued demand for wealth managers and relationship managers, the market is also seeing shifts in job roles due to the rise of digital banking and fintech innovations.

• Salary Trends:

  • Wealth management professionals, especially relationship managers, are in high demand due to Singapore’s status as a global wealth hub. Annual salaries for senior relationship managers can exceed S$200,000, including bonuses and commissions.
  • Salaries for roles in risk management, compliance, and data analytics within banks are also rising as financial institutions emphasize operational transparency and regulatory compliance.
  • Bonuses remain a key aspect of compensation in the finance sector, but have faced pressure, as seen with the credit trading team’s exit from ANZ.

• Recruitment Trends:

  • As seen with DBS Bank’s expansion of its wealth management team, there’s a major push to recruit professionals who can cater to high-net-worth individuals.
  • The rise of digital banking platforms is also increasing demand for tech-savvy finance professionals who can bridge the gap between traditional banking services and new, tech-driven offerings.

Healthcare and Life Sciences

The healthcare and life sciences sectors in Singapore continue to expand, driven by the country’s aging population and advancements in medical research and biotechnology.

• Salary Trends:

  • Roles in healthcare management, clinical research, and biomedical engineering have seen competitive salary packages, especially for senior professionals with niche expertise.
  • Medical doctors and specialists can earn anywhere from S$120,000 to S$200,000, depending on their field and seniority. Surgeons and anesthesiologists, in particular, are at the higher end of the pay spectrum.
  • Biotech professionals, such as researchers and laboratory managers, are commanding salaries in the range of S$60,000 to S$90,000 annually.

• Recruitment Trends:

  • There is increasing demand for healthcare professionals who can adapt to the digitalization of healthcare, including telemedicine and AI-assisted diagnostics.
  • Singapore’s status as a hub for life sciences research is attracting global talent in biotech, pharmaceuticals, and clinical trials.

Retail and E-commerce

The retail and e-commerce industry in Singapore has seen rapid growth, largely driven by the rise in online shopping and changing consumer habits, further accelerated by the COVID-19 pandemic.

• Salary Trends:

  • Retail management salaries remain stable, with mid-level managers earning S$50,000 to S$80,000 annually, while e-commerce specialists, particularly in digital marketing and logistics, are seeing salaries ranging from S$60,000 to S$100,000.
  • Senior executives in e-commerce companies and large retail chains can earn upwards of S$150,000, particularly those in leadership roles overseeing strategy, digital transformation, and growth.

• Recruitment Trends:

  • E-commerce continues to lead the way in recruitment, with positions in digital marketing, supply chain management, and customer experience management in high demand.
  • Retailers are also hiring for positions in customer service, data analytics, and online sales platforms to meet the demands of an increasingly digital consumer base.

Construction and Engineering

The construction and engineering sectors in Singapore are seeing a boost, driven by the nation’s continuous development and infrastructural projects, particularly in the lead-up to 2030 as part of the Smart Nation initiative.

• Salary Trends:

  • Engineers, particularly civil and mechanical engineers, are in demand, with salaries ranging from S$70,000 to S$100,000 for mid-level roles.
  • Project managers in large construction firms can earn salaries up to S$120,000, with bonuses based on project completion and quality of work.
  • Highly specialized engineers or those in leadership roles can command salaries exceeding S$150,000, depending on experience and project scope.

• Recruitment Trends:

  • Singapore’s Smart Nation push is driving recruitment in construction-related technology, such as BIM (Building Information Modelling) and IoT (Internet of Things).
  • Companies are increasingly hiring for green building experts, energy consultants, and environmental engineers to meet the growing focus on sustainability in construction projects.

Hospitality and Tourism

With Singapore’s status as a global tourism and events hub, the hospitality and tourism industries are rebounding post-pandemic, especially with an uptick in international travel and major events like the Singapore Grand Prix and large-scale conventions.

• Salary Trends:

  • Roles in hotel management and tourism leadership can earn anywhere from S$70,000 to S$120,000 annually, depending on the establishment and level of responsibility.
  • Salaries for mid-level professionals in event planning, marketing, and guest services are typically in the range of S$50,000 to S$80,000.
  • There is also growing demand for professionals with expertise in customer service and guest experience management.

• Recruitment Trends:

  • Hospitality companies are increasingly seeking employees who can deliver exceptional digital experiences, whether through online bookings, mobile apps, or virtual tours.
  • There’s also a focus on sustainability and eco-tourism, leading to job openings for specialists in sustainable hospitality practices and green certifications.

Manufacturing

Manufacturing in Singapore, especially in electronics, precision engineering, and pharmaceuticals, continues to be a significant contributor to the country’s economy.

• Salary Trends:
  • Engineers in the manufacturing sector, particularly those specializing in automation and robotics, are seeing salary increases in the range of S$70,000 to S$100,000 annually.
  • Senior roles in operations, such as plant managers or supply chain managers, can command salaries of S$120,000 to S$150,000.
• Recruitment Trends:
  • As Singapore moves towards more automation and Industry 4.0 solutions, there is growing demand for roles in robotics, AI, and machine learning.
  • Companies are also seeking professionals skilled in digital manufacturing, predictive maintenance, and process optimization to maintain their competitive edge.

Conclusion

Recruitment and salary trends in 2025 across various industries in Singapore show a diversified landscape. While technology, finance, and healthcare continue to lead the charge in terms of demand and salaries, other sectors such as e-commerce, manufacturing, and hospitality are also seeing steady growth, with specific needs for specialized skills in areas like digital transformation, sustainability, and automation. As industries evolve, job seekers must stay agile, embracing upskilling and adapting to the changing needs of the market to stay competitive. Employers, on the other hand, must continue to offer attractive compensation packages and career development opportunities to retain top talent in a dynamic and competitive job market.

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