Singapore Ranks First in Asia for Average Annual Salary

Singapore Ranks First in Asia for Average Annual Salary

A report by the financial website Insider Monkey shows that Singapore has the highest annual salary in Asia, beating other rich countries like the UAE and Qatar. 

Based on information from Morgan McKinley, the average full-time worker in Singapore earns about S$5,783 per month, or S$69,396 per year.

Despite technology salaries set to decline in 2023, some roles in Singapore saw significant increases, according to Insider Monkey. For example, data scientists will see their salaries increase by 11.3 percent, followed by systems analysts (8.27 percent), cybersecurity engineers (8.24 percent), and quality assurance professionals (8.01 percent).

The increase in data scientist salaries is tied to the growing interest in generative AI, according to a Nodeflair report that analyzed more than 422,000 data points.

The report also attributes the increase in salaries for cybersecurity engineers to the growing cyber threats in the Asia-Pacific region.

Other Asian countries with the highest average annual salaries include the United Arab Emirates ($51,390), Qatar ($50,868), Kuwait ($49,640) and Taiwan ($48,309).

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