2026 Workforce Planning: Salary Benchmarks, Wage Guidelines & Top-Paying Jobs

ManagementOctober 01, 2025 09:00

2026 Workforce Planning

As Singapore employers prepare for 2026, one of the most critical questions is: how much should we pay to attract and retain talent? With inflationary pressures, sector-specific growth, and changing workforce expectations, salary planning is no longer a simple exercise.

The National Wages Council (NWC) is currently finalising its 2025/2026 guidelines, which will serve as a key benchmark for HR leaders. At the same time, the Ministry of Manpower (MOM) and Economic Development Board (EDB) have released fresh data on salary levels and industry forecasts. This article consolidates these insights to help companies plan effectively for 2026.

Why Salary Benchmarks Matter Now

  • Talent Shortages Remain: With over 80,000 job vacancies reported in late 2024 (MOM), demand still outstrips supply in key industries.
  • Generational Shifts: Gen Z professionals place greater value on career growth, flexibility, and mental health support, but competitive pay is still a deciding factor.
  • Economic Pressures: According to a 2025 WTW study, Asia-Pacific organisations are revising compensation structures to cope with rising costs and competition for skilled talent.

Insights from National Wages Council (NWC)

  • The NWC 2025/2026 recommendations are expected to encourage wage growth aligned with productivity gains, while supporting low-wage workers.
  • Past guidelines suggested 4.5–7% nominal wage increases in tight labour markets. If inflation remains stable, 2026 wage growth may normalise between 3–5% for most industries.
  • Employers should also prepare for new guidelines on variable bonuses and skills-based pay adjustments, reflecting Singapore’s emphasis on upskilling.

Salary Benchmarks: What MOM Data Shows

Based on MOM’s Occupational Wages Tables (2024):

  • Financial Analysts earned a median monthly wage of S$7,500.
  • Software Engineers saw salaries ranging from S$6,000–S$9,500 depending on seniority.
  • Healthcare Specialists (e.g., Nurses, Allied Health Professionals) averaged S$4,800–S$7,000.
  • Aviation Instructors topped the list, with MOM data confirming monthly wages of S$20,000+ — making it one of the highest-paid roles in Singapore.

EDB/DOS Forecast: Growth Industries for 2026

According to the Q3 2025 Singapore Jobs Forecast:

  • Advanced Manufacturing: Continued hiring in semiconductors and precision engineering.
  • Technology & AI: Sustained demand for AI engineers, cybersecurity experts, and data scientists.
  • Healthcare & Biotech: Ongoing expansion due to ageing demographics and R&D investments.
  • Green Economy: Rising demand for sustainability managers and ESG professionals.
  • Finance & Risk Management: Strong outlook in compliance, investment, and fintech.

Top-Paying Jobs in Singapore (2025 Data, 2026 Outlook)

1. Flying Instructors – S$20,000+ monthly (MOM).
2. Specialist Doctors – Median S$15,000+.
3. AI/ML Engineers – Salaries climbing above S$12,000 at senior levels.
4. Financial Risk Managers – S$10,000–12,000.
5. Advanced Manufacturing Engineers – S$8,000–10,000.

These benchmarks are expected to rise further in 2026 as competition for niche skills intensifies.

Practical Steps for Employers

1. Review Current Pay Structures
Benchmark against MOM tables and ensure competitiveness in high-demand roles.

2. Align with NWC Guidelines
Factor in recommended increases and adopt skills-based pay progression where possible.

3. Invest in Upskilling
Build internal pipelines for future growth sectors (AI, green economy).

4. Balance Pay with Non-Monetary Benefits
Flexible work, career development, and mental health support remain top retention drivers.

Data Snapshot

  • 80,000+ vacancies reported in late 2024 (MOM).
  • 3–5% wage growth forecast for 2026 (NWC guidance).
  • Flying instructors S$20,000+ monthly (MOM).
  • Strong hiring in advanced manufacturing, AI, and healthcare (EDB forecast).

Frequently Asked Questions (FAQ)

Q1: Will wages continue to rise in 2026?
Yes. While growth may stabilise, most sectors expect 3–5% increases, especially in high-demand industries like AI and finance.

Q2: Are wage guidelines mandatory?
NWC guidelines are recommendations, not laws, but most employers follow them as best practice.

Q3: What roles will see the fastest salary growth?
AI engineers, sustainability managers, and healthcare professionals are likely to experience the strongest wage gains.

Q4: How can SMEs stay competitive if they cannot match large MNC salaries?
By offering flexible work, strong culture, career growth opportunities, and skills-based pathways.

Conclusion

Salary planning for 2026 is not just about numbers — it’s about positioning your company as an employer of choice in a competitive market. By aligning with NWC guidelines, leveraging MOM data, and keeping an eye on industry forecasts, Singapore employers can balance fair pay, retention, and long-term workforce sustainability.

 

👉 For Employers: Need support in benchmarking and workforce planning for 2026? [Connect with Reeracoen’s client services here].

👉 For Candidates: Curious if your salary matches market benchmarks? [Explore opportunities with Reeracoen today].

 

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