More working professionals in Singapore will receive raises according to new Hays salary guide

Singapore, 26 Feb 2025 – Insights from the 2025 Hays Asia Salary Guide reveal that 75 per cent of working professionals in Singapore would receive a raise in 2025, higher than the previous year. 

The survey conducted by Hays across six locations including Singapore, China, Hong Kong SAR, Japan, Malaysia and Thailand in late 2024 gathered insights from 3,670 hiring managers regarding expected changes in salaries or rates of pay within their organisations. Additionally, 8,790 skilled professionals were queried about their remuneration expectations for the year, including anticipated changes, satisfaction with pay, and whether they felt their salaries aligned with their responsibilities. 

In Asia: Modest raises amidst tough economic backdrop

Despite cautious pessimism about the broader economic climate, sentiments around salary are showing signs of improvement. Fewer professionals in Asia can expect to encounter no change in their salaries this year, down from 29 per cent in 2024 to 23 per cent. Professionals can also anticipate fewer pay cuts this year, down from seven per cent last year to six per cent in 2025. 

Conversely, most employers in Asia (34 per cent) expect to provide salary increments of between 2.5 per cent to five per cent, consistent with last year’s rate. Notably, organisations are increasingly committed to rewarding key talent on a higher scale, with 10% of hiring managers planning to offer raises between 6 per cent and 10 per cent, nearly double from last year (six per cent). 

More raises in Singapore this year

The outlook in Singapore has improved from 2024, with organisations looking to provide increments to more working professionals this year. 75 per cent of professionals in Singapore can expect to receive a raise this year, higher than 2024 (73 per cent) and ahead of organisations in Japan (70 per cent) and China (56 per cent) in 2025. 

Most professionals in Singapore can expect to receive increments between 2.5 per cent to five per cent (41 per cent), followed by increments up to 2.4 per cent (24 per cent). Seven per cent of professionals stand to enjoy pay raises between six to ten per cent, while 22 per cent of professionals will see no change to their salaries this year. 

Professionals are more optimistic regarding increments, with 83 per cent indicating they expect a raise. Most professionals expect to see increments between 2.5 per cent and five per cent (38 per cent), while 18 per cent predicted increments up to 2.4 per cent. 16 per cent expected no changes to their salaries this year. 

“When looking at an employer’s EVP, 59 per cent of working professionals in Singapore put the most value on compensation and benefits offered, followed closely by Flexible Work arrangements” said John Borneman, Regional Director at Hays Singapore. “Furthermore, 35 per cent of respondents indicated they would stay with their current employer because of the salary package offered.” 

More responsibilities for more pay

Salary increments in Singapore are also accompanied by increased expectations regarding work output. 53 per cent of professionals reported that their workload or scope of responsibilities had increased as a result of changes to their salary. While 39 per cent of respondents felt their pay was aligned with their responsibilities, 42 per cent disagreed. 

“41 per cent of working professionals in Singapore are dissatisfied with how much they are being paid. Additionally, 57 per cent of professionals plan to switch jobs this year, with lack of career progression and want of better remuneration being the top reasons identified” said John. 

Working professionals in neighbouring Malaysia expressed similar sentiments to their counterparts in Singapore. 56 per cent of professionals in Malaysia wishing to seek employment elsewhere this year were also doing so for higher pay. 47 per cent similarly felt that their pay did not align with their responsibilities, the highest percentage in Asia, while 45 per cent were dissatisfied with their salaries. 

“With 42 per cent of organisations in Singapore focusing on employee retention as a key HR priority this year, leaders should ensure that compensation levels remain competitive to secure critical talent within the organisation. Evaluate your salary structures and conduct benchmarking exercises to align remuneration with market standards,” said John.