Singapore takes the crown for offering the highest average annual salary in Asia

May 8, 2024 Vaseline stjohnson 0

SINGAPORE: When it comes to Asia’s highest annual salaries, Singapore takes the number one spot, according to finance website privileged monkey.

The Little Red Dot has outperformed other wealthy nations in the region, including the United Arab Emirates and Qatar.

A quick web search shows that the average salary for a full-time employee in Singapore is S$5,783 per month or S$69,396 per year, although other sites quote it a little more conservatively at S$5,197 (or $62,364 per year).

privileged monkeyHowever, he writes: “While Singapore is generally known for its high salaries, in 2023, the country saw a drop in technology salaries, but specific roles saw significant salary increases.

For example, data scientists saw an increase of 11.3 percent, followed by systems analysts at 8.27 percent, cybersecurity engineers at 8.24 percent, and quality assurance professionals at 8.24 percent. 8.01 percent.

The Nodeflair report, which analyzed more than 422,000 data points, attributed the rise in data scientist compensation to a growing interest in generative AI.

The report also linked rising salaries for cybersecurity engineers to rising cyber threats in the Asia-Pacific region.”

we will install listed the top five industries with the highest average annual salaries in Singapore, which are: software engineering, S$63,000; healthcare, S$63,003; information technology, S$60,432; Administration and Human Resources, S$60,000; and Banking and Finance, S$57,543.

Second on the list of highest annual salaries in Asia is the United Arab Emirates, where the average is S$69,282.

privileged monkey calls labor market growth in the UAE “prodigious,” noting that the country’s 4 percent rise in average wages outpaces the 2.3 percent rise in inflation.

Several sectors in the country are expected to see significant wage increases, including energy and consumer goods companies, which expect to see increases of 4.3 percent and 4.1 percent, respectively, and the life sciences and high-tech sectors , both of whom expect to see a 4 percent wage increase.

“Despite the rising cost of living, driven mainly by high rental prices, the UAE remains an attractive destination for opportunities in high-demand fields,” the article added.

In third place is Qatar, where the average annual salary is S$68,872, followed by Kuwait (S$67,205) and Taiwan (S$65,402) in fourth and fifth place, respectively.

Hong Kong (S$63,561), Japan (S$60,921), Israel (S$57,265), Oman (S$55,986), and South Korea (S$52,203), respectively, round out the top ten.

Verify privileged monkeyList of top 15 countries in Customs with the highest annual salaries here. /ITSG

Also Read: SG Salary Report 2024: Highest Salary Growth in Tech Seen for Data Scientists

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