According to the latest data from the Ministry of Manpower (MOM) Singapore, the median gross monthly income from work plus Central Provident Fund (CPF) contributions went up by 3.2% to $4,680 in from 2020 to 2021.
FYI: MOM reports this income data at the mid-year mark. This is why we have the salary numbers for 2021, even though the year has not ended.
But here’s the thing, the Government only publishes historical data and does not concern itself with future income projections.
If you want to gaze into the crystal ball, you can look at this 2021 Salary Increase and Turnover Study (via VulcanPost) published by British American Multi-National Company (MNC) Aon.
The company provides financial risk-mitigation services like Commercial Risk Solutions, Reinsurance Solutions, Retirement Solutions, Health Solutions and Data and Analytic Services like salary and turnover data.
According to the Aon study, the median salary for workers in Singapore is projected to rise by 3.6%, from $4,680 to $4,850 in 2022....