Singapore has a very tight labour market when it comes to certain sectors. The Singapore government plays a significant role in determining the types of industries that will drive the Singapore economy and this, in turn, creates jobs in these growing industries. A few of the notable growth sectors are finance, healthcare and technology.
The reason for the high salaries that workers in these industries receive is due to the fact that there is a large number of companies vying for a limited number of skilled workers. It is important, especially if you are a foreigner, to obtain a decent salary in Singapore as Singapore has one of the highest costs of living in the world. A high salary will help mitigate this high cost and allow you to live a good lifestyle in one of the most cosmopolitan cities in the world.
However, just because the jobs market is tight, does not mean that Singapore’s labour market will accept any type of worker. The key to obtaining a well-paying job is to have the relevant specialised skills that are needed. For example, if you graduated from a very well known university with a degree in computer programming, your skills would be very well sought after and you should be able to secure a more than decent paying position in the relevant field. The reason for this is that individuals with such skills obtained from well-known universities are rare. This is in contrast to an individual who is applying for an administrative position. The administrative position, while still important to the company, can be filled by a large number of candidates from various fields of study. Therefore, the tight labour market applies to certain segments and certain types of jobs. If you are trained from a reputable university and have experience in those fields where demand is strong, then you should be able to secure employment in Singapore. Do take note that the minimum monthly salary to obtain an employment pass (EP) in Singapore is SGD$4,500. Moreover, the position should be open to Singaporeans and Singapore Permanent Residents before the position can be given to a foreigner. Therefore, the company would need to show that the position could not be filled by Singaporeans and Singapore PRs before giving the position to a foreigner.
Singapore’s labour market is always tight as the country is constantly close to full employment. However, the country is looking for highly skilled foreigners when employing from outside the country.
If you have any company-related queries, you may email us at [email protected]. When in doubt, seek legal advice or consult an experienced licensed Employment Agency with the Ministry of Manpower.
The editorial team at Singapore Employment Agency
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