In 2025, Malaysia’s average monthly salary is RM2,745 (approximately SGD 850), while Singapore’s average monthly salary ranges from SGD 5,000 to SGD 6,000. This stark difference highlights the higher earning potential in Singapore, reflecting its status as a more developed economy compared to Malaysia.
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Economic Overview
- Malaysia: The average monthly salary is RM2,745 (approximately SGD 850), with a projected annual growth rate of 5.1% in 2024.
- Singapore: The average monthly salary ranges from SGD 5,000 to SGD 6,000, significantly higher than Malaysia’s average, indicating a more robust economy.
Salary Comparison by Sector
- Top Industries in Malaysia:
- Engineering: RM49,220 annually (approximately SGD 15,500)
- Banking, Finance & Insurance: RM46,262 annually (approximately SGD 14,500)
- Information Technology: RM45,508 annually (approximately SGD 14,300)
- Top Industries in Singapore:
- Financial Services: SGD 7,000 – SGD 10,000 monthly
- Technology: SGD 6,000 – SGD 9,000 monthly
- Healthcare: SGD 5,000 – SGD 8,000 monthly
Cost of Living
- Malaysia: The cost of living is generally lower, making it more affordable for residents despite lower salaries.
- Singapore: Higher living costs, particularly in housing and transportation, offset the higher salaries, making disposable income relatively similar when adjusted for living expenses.
Employment Rate
- Malaysia: The employment rate is anticipated to be 68.67% in 2024, with an unemployment rate of 3.7%.
- Singapore: The employment rate is consistently high, often above 90%, reflecting a strong job market and economic stability.
Educational Attainment
- Malaysia: A significant portion of the workforce holds only secondary education, with 31.3% having higher education qualifications.
- Singapore: A higher percentage of the workforce possesses tertiary education, contributing to the higher average salaries and skilled labor market.
Conclusion
The comparison between Malaysia and Singapore reveals significant disparities in average salaries, cost of living, and educational attainment. While Malaysia offers a lower cost of living and competitive salaries in certain sectors, Singapore’s higher average salaries and robust economy attract a skilled workforce, making it a more lucrative destination for job seekers.