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AI engineers, data scientists, and cybersecurity managers are among the roles commanding premium salaries, while employers remain cautious on wider wage growth and hiring.
Singapore employers are becoming more selective about hiring and pay, but demand for professionals with AI, data, and specialised skills remains strong, according to the PERSOL Singapore Salary Guide 2026/2027.
Released on 2 October 2026, the guide provides salary benchmarks, hiring outlooks, and in-demand skills across 14 functions and industries, offering a snapshot of where employers continue to invest as they navigate rising costs, technology adoption and changing workforce needs.
While employers remain cautious about overall headcount and wage growth, demand continues for professionals with capabilities that can support business growth, technology adoption and productivity.
“In Singapore, the labour market has demonstrated resilience despite external headwinds. Employers are becoming more cautious in their hiring decisions, placing greater emphasis on skills and experience,” said Foo See Yang, Managing Director and Strategic Business Group Head, PERSOL APAC.
He added that professionals are increasingly expected to embrace lifelong learning to strengthen their capabilities amid a challenging economic environment.
AI and data skills in demand across sectors
AI and data capabilities are no longer limited to technology-focused roles, with AI or data analytics skills ranking among the top 10 in-demand skills across all 14 functions and industries covered in the guide.
Employers are particularly prioritising professionals who can support areas such as AI adoption, cloud optimisation, and cybersecurity resilience.
Monthly base salaries for selected roles include:
- AI engineers: S$6,000 to S$12,000
- Data scientists: S$7,500 to S$14,000
- Cybersecurity managers: S$7,000 to S$15,000
As organisations continue to manage workforce costs, the guide noted that employers are placing greater weight on specialised skills and hands-on experience, particularly for PMET roles.
Foo said AI and data skills are no longer confined to technology roles, while professionals who invest in upskilling can strengthen their ability to stand out in the labour market.
For employers, he pointed to clear development pathways and the smart use of technology as key considerations in building resilient, future-ready teams.
With specialist AI and data talent commanding premium salaries, the guide suggests that organisations may need to balance targeted external hiring with upskilling existing teams to build capabilities while keeping costs in check.
Specialised talent commands premium salaries
The guide also highlights demand for specialised talent across sectors where skills shortages and certification requirements can affect hiring and business growth.
In banking and finance, hiring remains active for revenue-generating roles across wealth management, corporate banking, treasury and insurance. Private banking relationship managers can earn between S$8,000 and S$20,000 a month, while senior relationship managers can earn up to S$30,000. Certifications such as CACS, CMFAS, CFA, and CAMS can also give candidates a competitive edge, according to the guide.
In healthcare, Singapore's healthcare workforce is projected to grow by 20%, from 129,000 in 2024 to about 156,000 by 2030, according to the Ministry of Health.
Demand remains robust for physiotherapists, occupational therapists, radiographers and pharmacists, driven by strict registration requirements and a limited local talent pipeline.
Meanwhile, demand for sustainability professionals is expected to grow as mandatory climate reporting extends to more listed companies from FY2028, according to the Accounting and Corporate Regulatory Authority (ACRA) and Singapore Exchange Regulation (SGX RegCo).
The guide also points to increasing demand for bilingual and cross-cultural talent as Singapore and Japan mark 60 years of diplomatic relations.
Shortages of specialised and certified talent can slow expansion plans and client delivery, particularly in highly regulated sectors.
Against this backdrop, employers may need to plan hiring earlier and look beyond salary when attracting and retaining scarce talent. Flexible work arrangements and structured career development are among the factors highlighted in the guide.
Hiring remains resilient as wage growth stays measured
While demand remains for specialised skills, broader wage growth is expected to be more measured.
Singapore's labour market recorded its 19th consecutive quarter of employment growth in Q2 2026, according to the Ministry of Manpower. Total employment rose by 11,400, while the retrenchment incidence remained low at 0.2%.
Wage growth, however, is expected to remain cautious.
According to the Singapore National Employers Federation's Wage and Employment Outlook 2026/2027 Survey, published last month, 51% of employers plan to implement wage moderation or a wage freeze in 2027, up from 48% in 2026.
Employers are also set to face higher payroll costs.
CPF contribution rates for employees aged 55 to 65 will rise in January 2027, according to the CPF Board. The Occupational Progressive Wage will also increase in July 2027 under the National Wages Council's 2025/2026 guidelines.
“Rising payroll costs will be felt most keenly in labour-intensive sectors, making it more expensive to attract, retain and grow talent,” Foo said.
He added that employers will need to review hiring budgets, strengthen workforce planning and adopt AI-enabled workflows to sustain productivity.
All salary figures are monthly base salaries in Singapore dollars and exclude benefits and bonuses.
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