Software Engineer Average Salary in Singapore 2023 – The Complete Guide
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How much money does a person working as Software Engineer make in Singapore?
Average Monthly Salary
7,760
SGD
( 93,100
SGD
yearly)
LOW
4,110
SGD
AVERAGE
7,760
SGD
HIGH
11,800
SGD
A person working as Software Engineer in Singapore typically earns around 7,760 SGD per month. Salaries range from 4,110 SGD (lowest) to 11,800 SGD (highest).
This is the average monthly salary including housing, transport, and other benefits. Software Engineer salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Software Engineer Pay Scale and Salaries in Singapore
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Salary Structure and Pay Scale Comparison
5% of people earn
6,970 SGD or more
10% of people earn
6,220 to 6,970 SGD
20% of people earn
4,590 SGD or less
65% of people earn
4,590 to 6,220 SGD
Minimum Salary
4,110 SGD
Median
7,000 SGD
Maximum
11,800 SGD
Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range
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Salary Range, Minimum Wage, and Starting Salary
Software Engineer salaries in Singapore range from 4,110 SGD per month (starting salary) to 11,800 SGD per month (maximum salary). This is not the minimum wage as per the law, only the lowest reported number in the salary survey that had thousands of participants and professionals from all over the country.
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Median Salary
The median salary is 7,000 SGD per month, which means that half (50%) of people working as Software Engineer(s) are earning less than 7,000 SGD while the other half are earning more than 7,000 SGD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
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Percentiles and Salary Scale
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Software Engineer(s) are earning less than 5,830 SGD while 75% of them are earning more than 5,830 SGD. Also from the diagram, 75% of Software Engineer(s) are earning less than 7,920 SGD while 25% are earning more than 7,920 SGD.
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Pay Scale Structure
We grouped the most common and recurring salaries into brackets to give more insight into what salary to expect. This method is more accurate than just the average salary and gives more insights on how salaries are actually distributed. Around 65% of all reported figures are in the range 4,590 SGD to 6,220 SGD. Approximatly 20% fall under the 4,590 SGD cap. Ten percent of wages are from 6,220 SGD to 6,970 SGD. Only 5% of people grossed 6,970 SGD or more.
Software Engineer Salary Comparison by Years of Experience
How does experience and age affect your pay?
Software Engineer average salary change by experience in Singapore
0 – 2 Years
4,730 SGD
2 – 5 Years+23%
5,800 SGD
5 – 10 Years+42%
8,220 SGD
10 – 15 Years+17%
9,600 SGD
15 – 20 Years+10%
10,600 SGD
20+ Years+6%
11,200 SGD
Percentage increase and decrease are relative to the previous value
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The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Software Engineer salaries by experience level and this is what we found.
Employees with less than two years of experience makes approximately 4,730 SGD per month.
While someone with an experience level between two and five years is expected to earn 5,800 SGD per month, 23% more than someone with less than two year’s experience.
Moving forward, an experience level between five and ten years lands a salary of 8,220 SGD per month, 42% more than someone with two to five years of experience.
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On average, a person’s salary doubles their starting salary by the time they cross the 10 years* experience mark.
”
* Based on the average change in salary over time. Salary variations differ from person to person.
On average, a person’s salary doubles their starting salary by the time they cross the 10 years* experience mark.
Additionally, Software Engineer whose expertise span anywhere between ten and fifteen years get a salary equivalent to 9,600 SGD per month, 17% more than someone with five to ten years of experience.
If the experience level is between fifteen and twenty years, then the expected wage is 10,600 SGD per month, 10% more than someone with ten to fifteen years of experience.
Lastly, employees with more than twenty years of professional experience get a salary of 11,200 SGD per month, 6% more than people with fifteen to twenty years of experience.
Typical Salary Progress for Most Careers
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Software Engineer Salary Comparison By Education
How do education levels affect salaries?
Displayed below is the average salary difference between different Software Engineer(s) who have the same experience but different education levels.
Software Engineer average salary difference by education level in Singapore
Certificate or Diploma
5,800 SGD
Bachelor’s Degree+29%
7,490 SGD
Master’s Degree+43%
10,700 SGD
Percentage increase and decrease are relative to the previous value
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down Software Engineer salaries by education level in order to make a comparison.
When the education level is Certificate or Diploma, the average salary is 5,800 SGD per month.
While someone with a Bachelor’s Degree gets a salary of 7,490 SGD per month, 29% more than someone having a Certificate or Diploma degree.
People with Master’s Degree have an average salary of 10,700 SGD per month, 43% more than someone with a Bachelor’s Degree.
Is a Master’s degree or an MBA worth it? Should you pursue higher education?
A Master’s degree program or any post-graduate program in Singapore costs anywhere from 42,200 Singapore Dollar(s) to 127,000 Singapore Dollar(s) and lasts approximately two years. That is quite an investment.
You can’t really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.
Many people pursue higher education as a tactic to switch into a higher paying job. The numbers seem to support the thoery. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.
If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.
Typical Salary Difference by Education for Most Careers
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Software Engineer Average Annual Salary Increment Percentage in Singapore
How much are annual salary increments in Singapore for Software Engineer(s)? How often do employees get salary raises?
Software Engineer
Software Engineer(s) in Singapore are likely to observe a salary increase of approximately 13% every 15 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.
Singapore / All Professions
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The term ‘Annual Salary Increase’ usually refers to the increase in 12 calendar month period, but because it is rarely that people get their salaries reviewed exactly on the one year mark, it is more meaningful to know the frequency and the rate at the time of the increase.
How to calculate the salary increment percentage?
The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 ÷ Increase Frequency
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The average salary increase in one year (12 months) in Singapore is 7%.
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Annual Increment Rate By Industry 2022
Banking
7%
Energy
5%
Information Technology
3%
Healthcare
1%
Travel
8%
Construction
6%
Education
4%
Listed above are the average annual increase rates for each industry in Singapore for the year 2022. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
Worldwide Salary Raises: All Countries and All Jobs
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Salary Packages and Schemes
Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.
Software Engineer Bonus and Incentive Rates in Singapore
How much and how often are bonuses being awarded?
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“Software Engineer” is considered to be a moderate bonus-based job. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
47% of surveyed staff reported that they haven’t received any bonuses or incentives in the previous year while 53% said that they received at least one form of monetary bonus.
Those who got bonuses reported rates ranging from 3% to 5% of their annual salary.
Received Bonus
53%
No Bonus
47%
Types of Bonuses Considered
Individual Performance-Based Bonuses
The most standard form of bonus where the employee is awarded based on their exceptional performance.
Company Performance Bonuses
Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.
Goal-Based Bonuses
Granted upon achieving an important goal or milestone.
Holiday / End of Year Bonuses
These types of bonuses are given without a reason and usually resemble an appreciation token.
Bonuses Are Not Commissions!
People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.
What makes a position worthy of good bonuses and a high salary?
The main two types of jobs
Revenue GeneratorsSupporting Cast
Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.
Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.
Example:
A graphics designer working for a graphics designing company.
Example:
A graphic designer in the marketing department of a hospital.
Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.
“
Try to work for companies where your skills can generate revenue. We can’t all generate revenue and that’s perfectly fine.
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Bonus Comparison by Seniority Level
Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.
Software Engineer Salary Trend and Forecast in Singapore
How are Software Engineer salaries changing over time? Listed below is a chart that shows the average salary in recent years.
Average Salary 2019
7,070 SGD
Average Salary 2020+3%
7,270 SGD
Average Salary 2021+3%
7,520 SGD
Average Salary 2022+1%
7,610 SGD
Percentage increase and decrease are relative to the previous value
Software Engineer salaries in Singapore are on the rise in the year 2023 based on recent submitted salaries and reports. As displayed in the chart, salaries in 2022 are 1% higher than those of 2021. The trend suggests a slow yet continuous increase in pay in 2024 and future years. These numbers may vary from industry to another.
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Software Engineer Average Hourly Wage in Singapore
45 SGD
per hour
SGD
The average hourly wage (pay per hour) in Singapore is 45 SGD. This means that the average Software Engineer in Singapore earns approximately 45 SGD for every worked hour.
Hourly Wage = Annual Salary ÷ ( 52 x 5 x 8 )
About The Hourly Pay Rate
The hourly wage is the salary paid in one worked hour. Usually jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fix amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.
What is the minimum hourly rate of pay?
The minimum pay rate per hour for ‘Software Engineer’ in Singapore is 24 SGD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.
Software Engineer VS Other Jobs
7,760 SGD
8,730 SGD
8,480 SGD
Average Salary
Software Engineer
Average Salary
Data Analysis
Average Salary
Information Technology
The average salary for Software Engineer is 11% less than that of Data Analysis. Also, Data Analysis salaries are 3% more than those of Information Technology.
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Salary comparison with similar jobs
Job TitleAverage SalaryBusiness Intelligence Analyst8,080 SGD
+4%
Business Systems Analyst7,300 SGD
-6%
Data Quality Analyst7,930 SGD
+2%
Director of Application Development11,900 SGD
+53%
Disaster Recovery Analyst7,580 SGD
-2%
Enterprise Infrastructure Architect10,200 SGD
+31%
ERP Analyst8,430 SGD
+9%
Functional Analyst7,870 SGD
+1%
Information Technology Training Analyst7,740 SGD
-0%
OPS Manager11,000 SGD
+42%
Reporting Analyst7,350 SGD
-5%
Salesforce Administrator7,370 SGD
-5%
SOA Analyst7,500 SGD
-3%
Software Analyst7,320 SGD
-6%
Software Architect7,690 SGD
-1%
Software Engineer7,760 SGD
+0%
Solutions Architect10,900 SGD
+40%
Systems Analyst7,530 SGD
-3%
Systems Architect7,700 SGD
-1%
Technical Analyst6,860 SGD
-12%
Technology Business Analyst8,150 SGD
+5%
Government vs Private Sector Salary Comparison
Where can you get paid more, working for a private company or for the government? Public sector employees in Singapore earn 5% more than their private sector counterparts on average across all sectors.
Private Sector
8,270 SGD
Public Sector+5%
8,670 SGD
Percentage increase and decrease are relative to the previous value
Salary Statistics and Calculation Guide
What is considered to be a good and competitive salary for Software Engineer in Singapore?
A good and competitive compensation would range anywhere between 7,000 SGD and 7,920 SGD. This is a very rough estimate and your experience and education will play a very huge part into your final earnings.
Gross Salary (before tax) and Net Salary (after tax)
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salart after tax for every career.
Base / Basic Salary
The base salary for Software Engineer in Singapore is ranges from 5,830 SGD to 7,920 SGD.
The base salary depends on many factors including experience and education.
It is not easy to provide a figure with very little information, so take this range in a grain of salt.
What is the difference between the median and the average salary?
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary
