Employment Pass Salary Requirement to See 2025 Increase for New Applicants
Starting in 2025, the minimum qualifying salary for new Employment Pass (EP) applicants in Singapore will rise from S$5,000 to S$5,600 (US$4,200). For those in the financial services sector, where wage standards are typically higher, the threshold will increase to S$6,200, up from the current S$5,500.
This change will apply only to new EP applicants in 2025. For existing EP holders seeking renewal, the new salary requirements will come into effect a year later, starting on January 1, 2026. Manpower Minister Tan See Leng announced this adjustment during a parliamentary session on March 4, 2024.
This is not the first time Singapore has revised its EP qualifying salaries. In September 2022, the threshold for new EP applicants was raised by S$500, alongside an increase in the minimum salary for S Pass applicants. Dr Tan emphasized that these regular updates ensure fair competition for local professionals by aligning qualifying salaries with prevailing wage benchmarks.
The Ministry of Manpower (MOM) clarified that the EP salary benchmarks are aligned with the top one-third of salaries for local professionals, managers, executives, and technicians (PMETs). The adjustments reflect current market wage norms, ensuring that the EP salary requirements do not lead the market but keep pace with broader wage trends.
It’s important to note that the majority of current EP holders already meet the new salary requirements, so this change is not expected to significantly impact existing employees. This increase reaffirms Singapore’s commitment to maintaining competitive and fair employment standards for both local and foreign talent.
