How is Singapore Job Market in 2023?
Singapore is considered as one of the top hubs for digital and technology. Companies in Singapore are facing the problem of shortage of workers and it needs international workers for the jobs listed below:
- Scientists
- Engineers
- Technologists
According to some reports, employees can get a high salary than the usual. The local unemployment rate is increasing in the country so there is a high demand for workers in STEM. There is also a requirement of professionals in IT and engineering roles. The country is looking for highly-educated women and old employees to join the jobs back.
The salaries for different job roles in 2022 can be found in the table below:
| Sector | Salary |
| Information technology | 8,480 Singapore dollars |
| Banking | 9,190 Singapore dollars |
| Telecommunications | 7,450 Singapore dollars |
| Human resources | 7,990 Singapore dollars |
| Engineering | 7,130 Singapore dollars |
| Marketing, advertising, PR | 9,470 Singapore dollars |
| Construction, real estate | 4,970 Singapore dollars |
Global uncertainties may affect the expansion of Singapore economy but it is not expected that the economy will go into recession.
Number of job vacancies in Singapore
Job vacancies in Singapore have grown up to 126,600 in the second quarter of 2022.
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Top 3 states in Singapore with job vacancies
The states of Singapore which have a large number of job vacancies are available in the table below:
| City | State |
| Yishun | Northern Region |
| Tampines | East Region |
| Punggol | North-Eastern Region |
GDP growth
The economy of Singapore has arisen by 4.4 percent in the third quarter of 2022. Construction services have contributed to the growth of the economy. Growth in construction services went up to 3.9 percent. The services sector also shows a growth of 6.1 percent as the economy has boosted in different sub-sectors like:
- Wholesale and retail trade
- Information and communication
- Finance
- Accommodation and food services
Unemployment rate
The unemployment rate in Singapore dropped to 1.90 percent in August 2022 while in September 2022, it was 1.7 percent as per the reports provided by CEIC data. The unemployment rate of Singapore in Q2 was 2.1 percent which came down to 2.0 percent in Q3. Total employment in the country grew by 75,600.in comparison to Q2 which was 66,500.
Job outlook in Singapore, 2023
Jobs in Singapore are available in many sectors and we will discuss some of them in detail.
IT jobs in Singapore
There are many IT and software jobs available in Singapore. It is so because Singapore has become a leading tech hub in Asia. Continuous investment is being made by venture capitalists in technology start-ups and global tech companies which led to increase in the number of jobs in this sector.
The salary of a software engineer is increased by 22 percent for entry-level and 32 percent for experienced professionals. The salary has been increased due to the difference between the demand and supply of skilled professionals.
The in-demand career path for a software engineer in Singapore is listed below:
- Data Scientist
- Machine Learning
- Cloud engineer
- DevOps Engineer
- Full-stack developer
- Java Developer
- Python Developer
- Cybersecurity Engineer
The average salary for a software engineer in Singapore is 5,500 Singapore dollars. The salary for entry-level positions is 4,250 while for experienced professionals, it is 7,959 Singapore dollars.
| Job role | Salary in Singaporean dollars |
| Solution Architect | S$8,000 |
| Java Developer | S$6,500 |
| IT Manager | S$6,500 |
| Business Analyst | S$6,000 |
| Network Engineer | S$5,500 |
| IT Analyst | S$5,250 |
| Systems Engineer | S$5,000 |
| Process Engineer | S$4,500 |
| Programmer | S$4,163 |
Need guidance to get IT and Software jobs in Singapore? Avail the Y-Axis job search services.
Sales and Marketing
The average salary for a sales and marketing professional in Singapore is 3,485 Singapore dollars per annum. The salary for entry-level positions starts at 2,650 per annum while experience professionals get S$5,733 per annum. The related salaries for other positions can be found in the table below:
| Job role | Salary in Singaporean dollars |
| Director | S$7,184 |
| Regional Manager | S$6,925 |
| Market Manager | S$6,000 |
| Marketing Manager | S$5,000 |
| Sales Manager | S$5,000 |
| Manager | S$5,000 |
| Account Executive | S$3,150 |
| Sales | S$3,000 |
| Sales Executive | S$3,000 |
| Supervisor | S$2,900 |
Need guidance to get Sales and Marketing jobs in Singapore? Avail the Y-Axis job search services.
Finance and Accounting
Organizations in Singapore are looking out for accounting and finance professionals as their business activities are growing. Candidates having experience in both financial analysis and accounting are in high demand in the country. The accounting and finance sector in the country is also focusing on automation technologies like machine learning and artificial intelligence as it will provide fiscal advantages.
The average salary for an accountant in Singapore is S$4,319 per year. The salary for entry-level positions is S$3,464 and the maximum is S$6,000 per year. Related salaries can be found in the table below:
| Job role | Salary in Singaporean dollars |
| Finance Director | S$7,250 |
| Tax Manager | S$7,000 |
| Business Analyst | S$6,000 |
| Financial Analyst | S$5,500 |
| Office Manager | S$5,000 |
| Auditor | S$4,908 |
| Controller | S$3,500 |
| Finance Assistant | S$3,200 |
Need guidance to get Finance and Accounting jobs in Singapore? Avail the Y-Axis job search services.
Healthcare
Healthcare professional demand in Singapore has increased in the past three months. The demand for physicians and surgeons has increased by 52.6 percent since May 2022. Opportunities for nurses have also increased by 11.7 percent. Healthcare industry is growing and facing the issue of shortage of workers.
The average salary for a healthcare professional in Singapore is S$1,700. The salary of entry-level positions is S$1,600 while experienced professionals get S$2,051. Other related salaries can be found in the table below:
| Job role | Salary in Singaporean dollars |
| Finance Assistant | S$3,200 |
| Teacher | S$2,800 |
| Service Assistant | S$2,400 |
| Assistant | S$2,400 |
| Operator | S$2,000 |
| Attendant | S$1,769 |
Need guidance to get Healthcare jobs in Singapore? Avail the Y-Axis job search services.
Hospitality
Singapore has reopened the international borders which were closed due to the pandemic. This reopening has boosted the food services industry. From January 2022 to June 2022, the number of visitors who visited the country was 12 percent more than the same period in 2021. This boosting has increased the demand for hospitality professionals. The average salary for a hotel manager in Singapore is S$3,650. The lowest average salary is 3,075 and highest is 6,000. The related salaries in this industry are as follows:
| Job role | Salary in Singaporean dollars |
| Director | S$7,184 |
| Regional Manager | S$6,925 |
| Market Manager | S$6,000 |
| Manager | S$5,001 |
| Service Manager | S$5,000 |
| Account Manager | S$5,000 |
| Sales Manager | S$5,000 |
| Assistant Manager | S$4,500 |
| Account Executive | S$3,150 |
| Supervisor | S$2,900 |
Need guidance to get Hospitality jobs in Singapore? Avail the Y-Axis job search services.
Apply for Singapore work visa
Step 1: Check your eligibility
The eligibility criteria to work in Singapore are as follows:
- A valid job offer in Singapore is required
- Experience in working as a manager, executive, or specialized job
- Have a university degree, specialized skills, or professional; qualifications
Step 2: Choose your work visa
Work visa in Singapore is also known as work pass which international workers can apply for to work in Singapore. The types of work visas available are:
- Entre Pass
- Employment Pass
- Personalized Employment Pass
- S Pass
- Miscellaneous Pass
Also read…
Singapore launches ONE pass, a 5 year visa to hire global talent
Step 3: Get your qualifications recognized
Step 4: Arrange checklist of requirements
The requirements needed for a Singapore work visa are as follows:
- A valid passport with at least validity of six months
- Age of applicants should be at least 18 years
- Applicants have to work only in the scope mentioned in the work permit
- Foreign workers are not eligible to start their own business or work in any other business
- Foreign workers cannot marry a citizen or a permanent resident of Singapore without getting permission from Ministry of Manpower
- Candidates have to reside at a place allocated by the employer
- Original work permit should always be carried as any officer can ask for inspection any time
Step 5: Apply for Singapore Work Visa
How can Y-Axis assist you?
Y-Axis will provide the services listed below to get a Canada work visa:
- Counseling: Y-Axis provides free counseling services.
- Job services: Avail job search services to find jobs in Singapore related to architects
- Reviewing requirements: Your requirements will be reviewed by our experts for your visa
- Application process: Help in completion of the application process
- Requirements checklist: Help you in arranging the requirements for a Singapore work visa
Are you looking to work in Singapore? Talk to Y-Axis, the world’s no. 1 overseas immigration consultant.
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