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7 Jul

Career, Jobs, Employment in Singapore

Singapore is an open economy with strong presence in the service and manufacturing sector. Manufacturing is the economy’s main engine of growth, with electronics accounting for nearly half of the sector. The chemical industry is the second largest manufacturing sector, and Singapore is also the third largest petroleum-refining center in the world. Singapore’s workers are among the world’s best for productivity, work attitude and technical skills. They speak English proficiently, and are dedicated, hardworking, and keen to upgrade their skills and knowledge.

The government is focusing its efforts on five industrial clusters: electronics, chemicals, engineering, IT, and biomedical sciences. Singapore relies on foreign workers and talents at both ends of the skills ladder. Singapore aims to continue to lure global talent and top management to its shores, most significantly in IT jobs and in the technology industry, and has introduced a new class of taxpayers, called “not ordinarily resident,” who will earn tax exemptions on income earned outside of the country.

Recent evidence has shown weaker economic performance with unemployment rates reaching the highest levels in many years. On the contrary, Singapore’s unemployment rate is still lower than that of other developed countries.

Foreign talents remain an important resource to Singapore as many companies face problems employing suitable employees to facilitate regionally and locally in the expansion of businesses or replacement requirements.

Some suitable career opportunities in the financial sector includes treasury and risk management, funds management, general debt issuance, investment analysis, corporate financial, venture capital, cross- border electronic banking, insurance, investment banking and tax planning. Other service industries include transport, logistics, media and advertising, F&B, wholesale and retail, healthcare, education, social/ community services. In a trying time in Singapore, it is relatively more difficult to find a suitable job, but like our prime minister always remind people to be more complacent and lower our expectations and after all, finding a job is all about managing our own expectations.

The management culture in Singapore is that the government financially supports many of the large corporations in Singapore, and the people generally work well under pressure as ‘time is money’ to many. Expatriates who live and work here can easily get adapted to the lifestyle and work-style in Singapore.

Average Wages in Singapore

You can find the average wages of specific occupations in Singapore HERE. The result will show the Median monthly gross wage which includes all remuneration received by an employee before deductions of the employee’s CPF contributions and personal income tax. It includes overtime payments, commissions, allowances (e.g. shift, food, housing and transport) and other regular cash payments; but excludes employer’s CPF contributions, bonuses, other lump sum payments and payments-in-kind.

Central Provident Fund (CPF)

CPF is a comprehensive social security savings scheme to which both employers and employees have to contribute. CPF takes care of members’ needs in retirement, healthcare, home ownership, family protection and asset enhancement.

Foreigners only need to begin their monthly contributions to the CPF after having assumed permanent resident status. During the first two years as a permanent resident, contribution rates to CPF are reduced. Permanent residents can withdraw their savings at age 55, after a Minimum Sum in their Retirement Account is set aside. Members can also withdraw their CPF savings if they are permanently incapacitated or will leave Singapore and West Malaysia permanently. If members do return to Singapore, they must reimburse the CPF Board for the amount they had withdrawn with interest.

If you have left Singapore and West Malaysia permanently and have no intention of returning for further employment or residence, you may apply for the withdrawal of your CPF savings

For more information on CPF contributions, kindly contact CPF Board at:

Main Office

Central Provident Fund Board
CPF Building
79 Robinson Road, Singapore 068897
Fax: (65) 6225 8732
Website: http://www.cpf.gov.sg

Call Centre
1800 227 1188 (local)
(65) 6227 1188 (overseas)

Service Centres

CPF Service Centre
CPF Building
79 Robinson Road
#02-00, Singapore 068897
Fax: (65) 6229 3177

CPF Bishan Service Centre
3 Bishan Place
#01-01, Singapore 579838
Fax: (65) 6253 3931

CPF Jurong Service Centre
21 Jurong East Street 13
#01-01, Singapore 609646
Fax: (65) 6561 4102

CPF Tampines Service Centre
1 Tampines Central 5
#01-01, Singapore 529508
Fax: (65) 6780 3700

CPF Woodlands Service Centre
900 South Woodlands Drive
#01-02 Woodlands Civic Centre,
Singapore 730900
Fax: (65) 6767 9250