405,000 Singaporeans earn S$10K per month or more—up by 31,000 in a year. Here’s how.

Disclaimer: Unless otherwise stated, any opinions expressed below belong solely to the author. All data sourced from Labour Force in Singapore 2025, released last month by the Singapore Ministry of Manpower.

According to the latest data from the Ministry of Manpower, the number of Singaporean workers (citizens and permanent residents) employed full-time and earning an average of S$10,000 per month (in this case, figures provided by MOM exclude employers’ CPF contributions) has gone up by 31,200 people, to 404,900 in just a year.

That’s an impressive jump of 8.3%, on the back of very strong GDP growth, which hit 5% in 2025.

This means that 19.3% (nearly one in five) of locally employed residents make at least S$120,000 annually.

More than a quarter earn six figures per year.

An estimated 26%, or a bit over a quarter of Singaporean workers employed full-time, make S$100,000 or more (around S$8,350 per month).

Who are they? What do they do?

Now, you must be curious what so many people do to earn a good living, so let’s start by counting them up by industry—a list, unsurprisingly, led by financial services.

Breakdown by industry

The second largest, generous employer is the Public Administration, where 20% of workers collect S$10,000 monthly or more from work, followed by Trade, Professional Services and IT.

The tech sector is also second when it comes to the share of all workers making five figures per month, at around 30%, trailing only Financial & Insurance Services, where close to 40% are paid that much.

Breakdown by age

Naturally, your odds of a higher pay increase with age, with the peak falling in your 40s, although there’s almost 100,000 30-year-olds in this category already.

Breakdown by education

As I reported about two weeks ago, university degree holders significantly out-earn all other educational groups, and it’s clearly visible here as well, with over 85% of high-earners having a tertiary degree.

That said, not all is lost if you’re not among them, as there are even a few thousand people who finished their education below secondary level and yet still have well-paying jobs. Statistically, chances are slim, of course, but depending on your situation, academic education might not be a requirement for a successful career.

Breakdown by gender

What is a surprise to nobody is that men significantly outnumber women among high-earners, comprising over 60% of the total. However, before you conclude that this is evidence of a sexist pay gap, it remains true that fewer women climb the career ladder as high as men, and quite a few still choose to put family life first.

Given that more men than women work at any level, we have to correct for this disparity. In their respective groups, 23% of men and around 15% of women are in the S$10,000 per month income bracket, which means there is still a bit of a gap, but not substantial enough considering different choices regarding careers to suggest systemic discrimination.

Either way, as you can see, attractive pay is not so rare in Singapore, and with the right education and the right field, it is drawn by more than just a tiny elite.

What’s more, with a good GDP forecast for 2026 following a strong 2025, we can expect these numbers to continue climbing, with tens of thousands of Singaporeans joining the S$10,000 club each year.

• Read other articles we’ve written on Singapore’s job landscape here.

Also Read: Singapore degree holders hit a median salary of S$9,000, 78% higher than those with diplomas

Featured Image Credit: tang90246/ depositphotos