New work policy: Singapore sets new salary benchmarks for foreign talents
Candidates need to pass the points-based Complementarity Assessment Framework system in addition to meeting the qualifying salary to obtain an Employment Pass in Singapore
 "New work policy: Singapore sets new salary benchmarks for foreign talents")
Singapore’s Ministry of Manpower (MOM) has announced a new salary structure for its foreign worker policy, which applies to all Employment Pass applications. These changes aim to enhance the quality of foreign talent in the country while ensuring that local workers are not disadvantaged.
The new salary benchmark table released on August 2024 to Employment Pass applications is derived from MOM’s Manpower Research and Statistics Department’s (MRSD) annual Comprehensive Labour Force Survey.
New salary requirements for employment pass holders
The salary requirements for Employment Pass qualification, both for new applications and renewals, are as follows:
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For all sectors except financial services: A minimum salary of S$5,000 is required, with the amount progressively increasing based on age, starting from age 23, and reaching up to S$10,500 for those aged 45 and above.
For the financial services sector: A minimum salary of S$5,500 is required, with the amount progressively increasing based on age, starting from age 23, and reaching up to S$11,500 for those aged 45 and above.
When the new salary benchmarking will apply
The recently-released salary benchmarking table will apply to initial Employment Pass applications from January 1, 2025, and Employment Pass renewal applications of passes expiring from July 1, 2025.
The current salary benchmarks table (which was released in May 2023) applies to initial Employment Pass applications filed until December 31, 2024, and Employment Pass renewal applications of passes expiring from September 1, 2024 until June 30, 2025.
To earn points under the Complementarity Assessment Framework (COMPASS) salary criterion (category C1), employers must ensure that their foreign employees meet the minimum salary requirements outlined in the COMPASS benchmarking table. If the applicant’s salary falls short of these requirements, no points will be awarded in COMPASS category C1, meaning the applicant will have to earn points through other COMPASS criteria to qualify for an EP or its renewal.
Analysts suggest that to earn points under the C1 salary criterion, employers must ensure that their foreign employees meet the minimum salary requirements outlined in the COMPASS benchmarking table. If these salary thresholds are not met, the foreign national will not qualify for points under category C1. This could hinder their ability to contribute to the 40 points needed to obtain or renew an Employment Pass.