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More jobs expected in Singapore in 2022

Posted on December 8, 2021
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Singapore Jobs Outlook for 2022

Increased hiring and more jobs expected in the labour market in Singapore. Many industries have fully recovered and are looking to expand their presence.

According to Randstad Singapore 2022 Market Outlook & Salary Snapshot Report, “Even though 2021 was not without its challenges, businesses and employees in Singapore remained steadfast and stayed the course throughout the year … starting Q1 of 2021, the labour market has shifted from being employer-led to candidate-driven, indicating a significant recovery in the business and recruitment markets in 2022, which we can all look forward to.”

Randstad, among the largest recruitment and HR service providers in the world, has operations located across various countries.

Sectors such as banking & financial services, information and communications technology (ICT) life sciences, as well as professional services have completely recovered from the COVID-19 pandemic and are currently thriving.

As companies leverage digital solutions to expand their presence and scale operations, many new opportunities have surfaced in these sectors as well.

With an increased focus on digitalisation, many top employers in Singapore are pushing for talent development and industrial growth.

As more businesses in Singapore “innovate, digitalise and restructure”, additional highly-skilled jobs are expected to be created in the coming future.

Digital Technology

Along with being an exacting year, 2021 was also an enriching year for the tech industry in Singapore.

The COVID-19 pandemic triggered a transition onto the digital platform, leading to a significant growth in areas such as data analytics, cloud computing, cybersecurity, e-commerce, and software-as-a-service (SaaS).

Manufacturing

A strong pillar of Singaporean economy, manufacturing grew by 10.3% between 2019 and 2020, contributing 21.5% to the Gross Domestic Product (GDP) of Singapore.

Banking & Financial Services

The financial services sector in Singapore proved to be resilient throughout the economic impact of the pandemic.

The Monetary Authority of Singapore (MAS) expects the banking sector to continue to do well in 2022.

Insurance

With the move to online customer portfolios, the digital transformation is revamping the insurance industry in Singapore.

New technologies are being explored to predict the demands of the customers and on developing processes and products accordingly.

Today, companies in the insurance industry are focusing on the creation of as many touchpoints as possible thereby increasing the possibilities for engagement.

Salary Snapshot – Jobs in Singapore in 2022
 Sector Job Expected monthly salary (in Singapore Dollars)
Information Technology Software engineer From SGD5,000 to SGD14,000
Blockchain developer From SGD7,000 to SGD15,000
Data scientist From SGD5,000 to SGD18,000
Cybersecurity From SGD6,000 to SGD18,000
Manufacturing Logistics operations manager / engineer From SGD5,420 to SGD9,120
Logistics & transportation analyst / lead From SGD4,260 to SGD8,020
IC layout design engineer From SGD2,720 to SGD4,770
Global category buyer From SGD4,150 to SGD7,020
Banking & Financial Services Digital marketing From SGD5,500 to SGD13,000
Investment analyst From SGD6,00 to SGD13,000
Digital product managers From SGD7,000 to SGD15,000
Compliance manager From SGD5,500 to SGD14,000
Insurance Digital sales manager From SGD6,000 to SGD12,000
IFRS actuarial manager From SGD8,300 to SGD12,700
Operational risk manager From SGD5,500 to SGD10,600
Financial reporting manager From SGD6,800 to SDG9,300

How can I work abroad in Singapore?

A foreigner that intends to work abroad in Singapore must have a valid pass before they begin work in the country. This is also known as the Singapore work visa.

Types of passes available for work in Singapore include, among others –

Employment Pass: For foreign professionals, executives and managers that intend to work overseas in Singapore.

S-Pass: For mid-skilled technical staff that meet the criteria for eligibility.

Work Permit for migrant worker: For workers from approved source countries in specific sectors.

High salaries, various opportunities, and being one of the most stable economies in the world are reasons enough to make Singapore a great place to work abroad.

Though small area-wise, Singapore does pack a punch economically-speaking.

Singapore is among the four economies – with Taiwan, Hong Kong, and South Korea – to be together referred to as the Asian Tiger Economies.

If you are looking to Study, Work, Visit, Invest or Migrate Overseas, talk to Y-Axis, the World’s No. 1 Immigration & Visa Company.

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Work permit for Singapore and the application process

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