Employers eye 4.3% average pay rise in 2026

This amongst the lowest in Southeast Asia.

Employers in Singapore are budgeting for a 4.3% average salary increase in 2026, slightly up from 4.2% in 2024 and matching 2025 levels, according to a report from Aon.

The projected rise is amongst the lowest in Southeast Asia, placing Singapore alongside Thailand in terms of conservative wage growth expectations.

Whilst most industries are holding steady, the life sciences and medical devices sector is expected to see the highest salary increases locally, with projected growth of 4.6% in 2026.

At the same time, employee attrition in Singapore is climbing, with the turnover rate rising from 16.5% in 2023 to 16.7% in 2024, and projected to hit 19.3% in 2025, one of the highest attrition rates in the region.

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