Singapore raises Employment Pass salary threshold again – effective January 2025
The Ministry of Manpower (MOM) has announced another increase in the wage threshold for Employment Pass (EP) applications:
▪️ General Sector: from S$5,000 to S$5,600
▪️ Financial Sector: from S$5,500 to S$6,200
via: Singapore MOM
This is not the first adjustment and certainly not the last. Here are the dramatic changes over the past decade:
▪️ 2014: Raised from S$3,000 to S$3,300
▪️ 2017 : Raised from S$3,300 to S$3,600
▪️ 2020 (May): Raised from S$3,600 to S$3,900
▪️ 2020 (September): Raised from S$3,900 to S$4,500 (S$5,000 for finance roles – marking the first industry-specific salary threshold)
▪️ 2023 : Raised from S$4,500 to S$5,000 (S$5,500 for Finance)
▪️ 2025（Jan） : Raised from S$5,000 to S$5,600 (Finance: S$6,200)
🤨 Decade of growth: the EP salary threshold has almost doubled! The most significant surge has occurred in the last four years, and adjustments have even been made during the pandemic – twice in 2020 alone.
😮What does this mean for you?
Current EP holders: If you are eligible, applying for Permanent Residency (PR) now may be your best option.
Those interested in applying for permanent resident status: This may be your last chance before the new thresholds come into effect. Don’t have a sponsoring employer? Explore innovative options such as the Acquisition Equity Scheme!
Singapore remains competitive, but staying ahead of policy changes is key to securing your career future. Get in touch with us to explore customised solutions that suit your needs.
📞 Office: +6569505018
📲 WhatsApp: +6597653987
📧 Email: consultant@adepture.com.sg
