Singapore firms to keep 2026 salary growth steady despite high staff turnover: Survey

Singapore companies are keeping a tight rein on salary hikes in 2026, even as their turnover levels remain among the highest in Southeast Asia, according to a new survey.

- Sharon Salim

Professional services firm Aon found that companies here are budgeting a 4.3 per cent salary increase in 2026 — the same as the actual growth in 2025.

Conducted from July to September, Aon’s latest Salary Increase and Turnover Survey covered over 700 companies and their regional offices across more than 15 industries in Singapore, Indonesia, Malaysia, Thailand, Vietnam and the Philippines.

Across sectors, life sciences and medical devices firms in Singapore are expected to offer the largest pay bump at 4.6 per cent.

Mr Rahul Chawla, Aon’s partner and head of talent solutions in Southeast Asia, said life sciences as a sector tends to be a “good paymaster”. These companies also appeal to talent who are driven by purpose, like those who want to contribute to improving lives.