SEAToday.com, Singapore-On March 4, the Singaporean government announced that they will raise the minimum salary requirements for companies that hire foreign professionals and executives, starting in 2025. Foreign professionals working in the financial sector must earn a minimum of 6,200 Singapore dollars or about 72 million rupiahs per month. Before, the number was from 5,500 Singapore dollars or about 62 million rupiahs per month.

Any other foreign professionals must earn a minimum of 5,600 Singapore dollars or about 65 million rupiahs per month. Before, the number was 5,000 Singapore dollars or about 58 million rupiahs per month.

Singapore’s Minister of Manpower, Tan See Leng, said that by regularly updating the minimum salary requirements, the Singaporean government wants to ensure that there are employment opportunities for locals.

By regularly updating the minimum salary requirements the Singaporean government also wants to ensure the quality of foreign hires. It last raised in September 2022 to 5,000 Singapore dollars per month from 4,500 Singapore dollars per month.

The minimum salary requirement is based on the top one-third of salaries for local professionals, managers, executives, and technicians which increased progressively with age.

According to the State Manpower Ministry, around 1.48 million foreign workers are currently residing in Singapore on June 2023, including 197,300 foreign professionals and executives. (AKBAR/ALVIN)