Economic situation and incomes of the population
In the rating of the development of the world economy in terms of GDP, the state took 40th place in 2017. Average monthly salary in Singapore is 4,000 dollars (250,000 rubles). The unemployment rate is insignificant and equal to 2,2%.
Monthly earnings by occupation in 2021
It is not difficult to deduce the minimum and maximum wages per month in the country. Income in the labor market for a number of professions looks like this:
| Profession | Minimum salary, in Singapore dollars | Minimum salary, in rubles | Maximum salary, in Singapore dollars | Maximum salary, in rubles |
| Doctor | 3700 | 175 000 | 6000 | 280 000 |
| Graphic Designer | 2300 | 110 000 | 5000 | 231 000 |
| Accountant | 3600 | 170 000 | 5300 | 244 000 |
| Digital marketer | 4100 | 190 000 | 7000 | 323 000 |
| Service manager | 6000 | 280 000 | 8000 | 370 000 |
| Driver | 1700 | 80 000 | 3000 | 138 000 |
| Engineer | 2700 | 125 000 | 4000 | 184 000 |
Minimum
Singapore law does not officially provide for a minimum monthly wage. Apart from the employment contract, wages are not regulated by anything. S $ 1,500 (RUB 70,000) mostly received by people with low work qualifications.
Average
To prevent corruption in the state, it is customary for all citizens to pay decent salaries. In 2021, the average income of the population is equal to 4,000 Singapore dollars (250,000 rubles). Typically, this money is earned by middle managers, marketers and many categories of doctors. Finding such vacancies on job search sites is easy.
Medium starting patch (for foreigners)
An important principle of the personnel policy of Singapore is the desire of employers to hire only those foreigners who have a high level of education and qualifications.
The salary for Russians and Ukrainians is difficult to generalize, since it depends on:
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- what field the specialist works in;
- how highly the director of the company values him.
Most often, the average monthly income is 6,000 Singapore dollars (280,000 rubles)... This amount is provided for advanced programmers and employees in the banking industry.
Maximum
There is no maximum wage cap in Singapore. To make big money, the citizens of a country must have a truly prestigious education and essential skills. For example, in a month a real estate agent can earn the maximum 15,000 (690,000 rubles), lawyer - 10,000 (462,000 rubles), and the executive branch - 17,000 Singapore dollars (785,000 rubles).
Labor remuneration by city and region
Singapore is a city-state. It is divided into several districts, but this does not affect the size of wages. Basically, all companies and organizations are concentrated in the business district of the state.
Payroll taxes
Every citizen pays taxes on wages in the country depending on how much he earns. The state tax system attracts migrants to start a business, as Singapore has low tax rates. In total, after the payment of all contributions, an individual will have 73% from the total income.
Income tax
Income tax is paid once a year. It is calculated on a progressive scale (for the local population) with taxes within from 0% to 20% since 2007. The tax year in the country coincides with the calendar year from January 1st to December 31st. Payment is based on the calculation for the previous year.
For legal entities and companies, income tax is from 8.5% to 17%.
Social contributions and other taxes. What is tax free
Citizens pay the following taxes:
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- on property - 4% from the cost of housing, 5% - on land plots, 10% - on the market price of real estate;
- for goods and services - 7%;
- for the purchase of vehicles - 10%;
- withholding tax - from 10 to 15%.
The following are not taxed:
- profits earned outside Singapore;
- capital gains.
The ratio of salary and living expenses
Food prices in the country are as follows:
- milk 1 l - 3 Singapore dollars (138 p.);
- rice 1 kg - 3.5 Singapore dollars (185 rubles);
- chicken eggs 12 pcs. - 2.5 Singapore dollars (115 rubles);
- White bread - 2 Singapore dollars (92 rubles).
Public transport in Singapore is well developed. Locals and tourists travel to:
- taxi - city trips cost on average 15 Singapore dollars (690 rubles);
- metro - the cost of one trip - from 0.8 Singapore dollars (36 rubles);
- bus - the ticket price in the city is 1.5 Singapore dollars (70 rubles);
- river taxi - you can use this type of transport for 6 Singapore dollars (277 rubles).
Housing rent is different. To understand the cost, you need to look at the table.
Prices are in Singapore dollars.
| Accommodation type | Rent price | District |
| State 3-room apartment HDB | 3000 | In the town |
| State 3-room apartment HDB | 2200 | In the suburbs |
| Condominium, 3-room apartment | 7000 | Prestigious |
| Condominium, 3-room apartment | 4500 | Usual |
| Condominium, 3-room apartment | 3300 | In the suburbs |
| Cottage | 6000 | Usual |
| Cottage | 8000 | Prestigious |
| Room in a condominium | 800 | Usual |
| Room in apartment HDB | 500 | Usual |
| 2-bedroom apartments | 8000 | Prestigious |
Medicine in Singapore works flawlessly. All medical personnel have a high level of training. Pharmacies are found on every corner, and medicines are mainly sold by prescription. Healthy vitamins cost on average 1,500 rubles.
In Singapore, people distribute the budget from the total salary as follows:
- rental of property - 30%;
- education - 10%;
- medical service - 10%;
- Food - 10%;
- entertainment - 15%;
- buying household goods - 5%;
- expenses on transport and clothing - 3% each;
- other - 10%.
Unemployment Rate and Prospects for Migrants
In Singapore, unemployment is 2,2%... In 2019, it decreased from 3%... And this does not surprise anyone, as the country continues to grow rapidly.
This situation has become possible thanks to the involvement of highly qualified foreign specialists. Migrants have prospects, but this requires useful skills and a decent education.
It makes no sense to work in low positions, as Singapore has high prices for rental housing and other services.
The average income in Singapore attracts many people, including Russians and Ukrainians. It is difficult to get a job in the state, for this you need to be a high-profile specialist. But even this goal can be realized by receiving an education and learning important skills. In addition, work experience would be desirable.
