Career & Education
Increasing the Foreigners Minimum Salary: How Will This Help Singaporeans?
By Seedly  •  September 5, 2020

Foreign Workforce in Singapore

Ever wondered how many Employment Passes (EP) and S Passes are there in Singapore?
Pass Type 2014 2015 2016 2017 2018 2019
Employment Pass (EP) 178,900 187,900 192,300 187,700 185,800 193,700
S Pass 170,100 178,600 179,700 184,400 195,500 200,000
Total Foreign Workforce (excluding FDWs and construction) 764,200 780,000 787,500 788,300 804,600 824,200
Change - 2.07% 0.96% 0.1% 2.07% 2.44%
To visualise it,

Employment Pass (EP) and S Pass Changes

In an attempt to encourage employment opportunities for Singaporeans, the minimum monthly salary of Employment Passes (EPs) for foreign professionals will be increased. This will lead to an increment in the cost required for companies to hire foreign professionals, increasing the incentive of hiring a local.
Type of Pass Minimum Qualifying Salary
  From 1 May 2020 From 1 September 2020
Employment Pass $3,900 $4,500
Employment Pass (Financial Services) $5,000
Employment Pass (Candidates in their 40s) About double the minimum qualifying salary for the youngest applicants
S Pass $2,400 $2,500
 ...
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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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