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Professor - Economics Average Salary in Singapore 2024

How much money does a person working as Professor - Economics make in Singapore?


Average Monthly Salary
12,200 SGD
( 146,000 SGD yearly)

LOW
5,980
SGD
AVERAGE
12,200
SGD
HIGH
19,000
SGD
All salary figures displayed here are per month except when noted otherwise.
All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

A person working as Professor - Economics in Singapore typically earns around 12,200 SGD. Salaries range from 5,980 SGD (lowest) to 19,000 SGD (highest).


Salary Variance

This is the average salary including housing, transport, and other benefits. Professor - Economics salaries in Singapore vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.



Professor - Economics Pay Scale and Salaries in Singapore

Median and salary distribution Singapore Professor - Economics monthly
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Salary Structure and Pay Scale Comparison

5% of people earn
11,300 SGD or more
10% of people earn
9,990 to 11,300 SGD
20% of people earn
7,090 SGD or less
65% of people earn
7,090 to 9,990 SGD
Minimum Salary
5,980 SGD
Median
11,400 SGD
Maximum
19,000 SGD




Median Salary, maximum and minimum salary, minimum wage, starting salary, and the salary range

All salary figures displayed here are per month except when noted otherwise.
  • Salary Range, Minimum Wage, and Starting Salary

    Salaries for the position Professor - Economics in Singapore range from 5,980 SGD (starting salary) to 19,000 SGD (maximum salary). It should be noted that the given figure is not the legally mandated minimum wage; rather, it represents the lowest figure reported in a salary survey that included thousands of participants and professionals from all regions of the country.

  • Median Salary

    With a median salary of 11,400 SGD, half of the professionals who work as Professor - Economics in Singapore earn less than this amount, and the other half earn more. The median salary denotes the middle value of salaries. Ideally, you would want to belong to the group earning more than the median salary, located on the right side of the salary distribution graph.

  • Percentiles and Salary Scale

    The median is closely associated with two other values known as the 25th and 75th percentiles. By examining the salary distribution chart, it can be determined that 25% of professionals employed as Professor - Economics in Singapore earn less than 9,300 SGD, while 75% earn more. Similarly, the chart shows that 75% earn less than 13,000 SGD while 25% earn more.

  • Pay Scale Structure

    To provide a better understanding of expected salaries, we categorized the frequently occurring salaries into different ranges. This approach provides a more precise representation of salary distribution for the job title Professor - Economics in Singapore compared to simply calculating the average. The majority of reported salaries, approximately 65%, fall within the range of 7,090 SGD to 9,990 SGD. About 20% of salaries are below the 7,090 SGD mark, while 10% fall within the range of 9,990 SGD to 11,300 SGD. Only 5% of individuals have salaries exceeding 11,300 SGD.

Salary Comparison by Years of Experience / Professor - Economics / Singapore

How do experience and age affect pay?

0 - 2 Years
7,090 SGD
2 - 5 Years+29%
9,110 SGD
5 - 10 Years+38%
12,600 SGD
10 - 15 Years+24%
15,600 SGD
15 - 20 Years+7%
16,700 SGD
20+ Years+7%
17,800 SGD
Percentage increase and decrease are relative to the previous value
Salary comparison by years of experience monthly Singapore Professor - Economics
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The experience level is the most important factor in determining the salary. Naturally, the more years of experience the higher the wage. We broke down salaries by experience level for people working as Professor - Economics and this is what we found.


All salary figures displayed here are per month except when noted otherwise.

Employees with less than two years of experience earn approximately 7,090 SGD.

While someone with an experience level between two and five years is expected to earn 9,110 SGD, 29% more than someone with less than two year's experience.

Moving forward, an experience level between five and ten years lands a salary of 12,600 SGD, 38% more than someone with two to five years of experience.

Additionally, professionals whose expertise span anywhere between ten and fifteen years get a salary equivalent to 15,600 SGD, 24% more than someone with five to ten years of experience.

If the experience level is between fifteen and twenty years, then the expected wage is 16,700 SGD, 7% more than someone with ten to fifteen years of experience.

Lastly, employees with more than twenty years of professional experience get a salary of 17,800 SGD, 7% more than people with fifteen to twenty years of experience.

On average, a person's salary doubles their starting salary by the time they cross the 10 years* experience mark.
* Based on the average change in salary over time. Salary variations differ from person to person.

Typical Salary Progress for Most Careers

Salary Comparison By Experience Level
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Salary Comparison By Education / Professor - Economics / Singapore

How do education levels affect salaries?

Displayed below is the average salary variance between different education levels of professionals working as Professor - Economics.

Master's Degree
7,670 SGD
PhD+85%
14,200 SGD
Percentage increase and decrease are relative to the previous value
Salary comparison by education level monthly Singapore Professor - Economics
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We all know that higher education equals a bigger salary, but how much more money can a degree add to your income? We broke down salaries by education level for the position Professor - Economics in order to make a comparison.


Level 1: Master's Degree

Employees at this education level have an average salary of 7,670 SGD.


Level 2: PhD

At this level, the average salary becomes 14,200 SGD, 85% more than the previous level.



Is a Master's degree or an MBA worth it? Should you pursue higher education?

A Master's degree program or any post-graduate program in Singapore costs anywhere from 42,400 SGD to 127,000 SGD and lasts approximately two years. That is quite an investment.

You can't really expect any salary increases during the study period, assuming you already have a job. In most cases, a salary review is conducted once education is completed and the degree has been attained.

Many people pursue higher education as a tactic to switch to a higher-paying job. The numbers seem to support the theory. The average increase in compensation while changing jobs is approximately 10% more than the customary salary increment.

If you can afford the costs of higher education, the return on investment is definitely worth it. You should be able to recover the costs in roughly a year or so.


Typical Salary Difference by Education for Most Careers

Salary Comparison By Education Level
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Salary and Compensation Comparison By Gender / Professor - Economics / Singapore

Salary comparison by gender Singapore Professor - Economics monthly
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Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? For the people who work as Professor - Economics in Singapore, the average difference between the salary of male and female employees is 5%.

Male
12,500 SGD
Female-5%
11,900 SGD
Percentage increase and decrease are relative to the previous value

Salary Comparison By Gender in Singapore for all Careers

Salary comparison by gender monthly Singapore
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Average Annual Salary Increment Percentage / Professor - Economics / Singapore

How much are annual salary increments in Singapore for individuals working as Professor - Economics? How often do employees get salary raises?

Individuals working as Professor - Economics in Singapore are likely to observe a salary increase of approximately 12% every 17 months. The national average annual increment for all professions combined is 9% granted to employees every 15 months.

Annual Salary Increment Rate Singapore Professor - Economics
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The figures provided here are averages of numbers. Those figures should be taken as general guidelines. Salary increments will vary from person to person and depend on many factors, but your performance and contribution to the success of the organization remain the most important factors in determining how much and how often you will be granted a raise.

Singapore / All Professions

Annual Salary Increment Rate Singapore
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The term Annual Salary Increase usually refers to the increase in 12 calendar month period, but because it is rare that people get their salaries reviewed exactly on the one-year mark, it is more meaningful to know the frequency and the rate at the time of the increase.

How to calculate the salary increment percentage?

The annual salary Increase in a calendar year (12 months) can be easily calculated as follows: Annual Salary Increase = Increase Rate x 12 / Increase Frequency

The average salary increase in one year (12 months) in Singapore is 7%.

Worldwide Salary Raises: All Countries and All Jobs

World Average Annual Salary Increment
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Salary Packages and Schemes

Not all compensation increases are reflected directly in the salary. Some companies offer upgraded packages to their staff instead of cash money. The figures displayed here account only for direct increments to the base salary.



Bonus and Incentive Rates / Professor - Economics / Singapore

How much and how often are bonuses being awarded?Annual Salary Bonus Rate Singapore Professor - Economics
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42% of surveyed staff reported that they haven't received any bonuses or incentives in the previous year while 58% said that they received at least one form of monetary bonus.

Those who got bonuses reported rates ranging from 3% to 6% of their annual salary.

Received Bonus
58%
No Bonus
42%

Types of Bonuses Considered

Individual Performance-Based Bonuses

The most standard form of bonus, where the employee is awarded based on their exceptional performance.

Company Performance Bonuses

Occasionally, some companies like to celebrate excess earnings and profits with their staff collectively in the form of bonuses that are granted to everyone. The amount of the bonus will probably be different from person to person depending on their role within the organization.

Goal-Based Bonuses

Granted upon achieving an important goal or milestone.

Holiday / End of Year Bonuses

These types of bonuses are given without a reason and usually resemble an appreciation token.

Bonuses Are Not Commissions!

People tend to confuse bonuses with commissions. A commission is a prefixed rate at which someone gets paid for items sold or deals completed while a bonus is in most cases arbitrary and unplanned.


What makes a position worthy of good bonuses and a high salary?

The main two types of jobs

Revenue GeneratorsSupporting Cast

Employees that are directly involved in generating revenue or profit for the organization. Their field of expertise usually matches the type of business.

Employees that support and facilitate the work of revenue generators. Their expertise is usually different from that of the core business operations.

Example:
A graphics designer working for a graphics designing company.

Example:
A graphic designer in the marketing department of a hospital.


Revenue generators usually get more and higher bonuses, higher salaries, and more frequent salary increments. The reason is quite simple: it is easier to quantify your value to the company in monetary terms when you participate in revenue generation.

Try to work for companies where your skills can generate revenue. We can't all generate revenue and that's perfectly fine.

Bonus Comparison by Seniority Level

Top management personnel and senior employees naturally exhibit higher bonus rates and frequencies than juniors. This is very predictable due to the inherent responsibilities of being higher in the hierarchy. People in top positions can easily get double or triple bonus rates than employees down the pyramid.

Average Hourly Wage / Professor - Economics / Singapore


70 SGD per hour

The average hourly wage (pay per hour) for individuals working as Professor - Economics in Singapore is 70 SGD.This is the rate they get paid for every worked hour.


Hourly Wage = Annual Salary / ( 52 x 5 x 8 )

About The Hourly Pay Rate

The hourly wage is the salary paid in one worked hour. Usually, jobs are classified into two categories: salaried jobs and hourly jobs. Salaried jobs pay a fixed amount regardless of the hours worked. Hourly jobs pay per worked hour. To convert salary into hourly wage the above formula is used (assuming 5 working days in a week and 8 working hours per day which is the standard for most jobs). The hourly wage calculation may differ slightly depending on the worked hours per week and the annual vacation allowance. The figures mentioned above are good approximations and are considered to be the standard. One major difference between salaried employees and hourly paid employees is overtime eligibility. Salaried employees are usually exempt from overtime as opposed to hourly paid staff.

What is the minimum hourly rate of pay?

The minimum pay rate per hour for people working as Professor - Economics in Singapore is 34 SGD. This is the minimum as per the gathered data in the salary survey not the minimum hourly rate mandated by law.

Salary comparison with similar jobs

Job TitleAverage Salary
Teaching / Education-100%
Academic Advisor8,390 SGD-31%
Academic Assistant5,900 SGD-52%
Academic Coach8,060 SGD-34%
Academic Librarian5,850 SGD-52%
Academic Manager9,330 SGD-23%
Academic Specialist7,750 SGD-36%
Academic Staff6,680 SGD-45%
Accompanist6,690 SGD-45%
Achievement Coach8,730 SGD-28%
Admissions Specialist7,310 SGD-40%
Agricultural Sciences Teacher6,780 SGD-44%
Anthropology Teacher6,740 SGD-45%
Arabic Language Teacher6,520 SGD-47%
Archeology Teacher6,730 SGD-45%
Architecture Teacher7,290 SGD-40%
Archivist5,810 SGD-52%
Art Teacher6,070 SGD-50%
Assistant School Principal8,450 SGD-31%
Assistant Teacher5,520 SGD-55%
Biochemistry Professor 11,300 SGD-7%
Biology Teacher6,580 SGD-46%
Blended Learning Specialist8,840 SGD-28%
Bursary Scheme Manager7,450 SGD-39%
Business Teacher7,140 SGD-41%
Careers Advisor8,600 SGD-29%
Careers Consultant7,990 SGD-34%
Chemistry Teacher6,260 SGD-49%
Chief Remote Learning Officer11,300 SGD-7%
Child Care Coordinator6,430 SGD-47%
Child Care Worker5,160 SGD-58%
Childcare Worker5,380 SGD-56%
Classroom Assistant5,290 SGD-57%
Clinical School Psychologist9,800 SGD-20%
Coding Coach7,490 SGD-39%
College Aide8,230 SGD-33%
College and Career Readiness Specialist8,680 SGD-29%
College Dean15,200 SGD+25%
College President14,800 SGD+21%
Communications Teacher6,550 SGD-46%
Community Education Officer5,520 SGD-55%
Computer Science Teacher6,580 SGD-46%
Computer Teacher6,700 SGD-45%
Creative Writing Trainer7,930 SGD-35%
Credit Counselor8,460 SGD-31%
Cultural Studies Teacher6,580 SGD-46%
Curriculum Coordinator7,550 SGD-38%
Curriculum Developer8,910 SGD-27%
Curriculum Specialist8,670 SGD-29%
Dean of Faculty15,200 SGD+25%
Demonstrator5,950 SGD-51%
Deputy Controller of Examinations7,680 SGD-37%
Digital Citizenship Educator6,450 SGD-47%
Digital Literacy Instructor7,010 SGD-43%
Director of Learning Technology8,850 SGD-27%
Distance Learning Coordinator7,310 SGD-40%
E-Learning Consultant9,130 SGD-25%
E-learning Content Developer8,740 SGD-28%
E-Learning Designer8,360 SGD-31%
Economics Lecturer11,800 SGD-3%
Economics Teacher6,860 SGD-44%
EdTech Compliance Manager7,380 SGD-39%
EdTech Consultant7,590 SGD-38%
EdTech Content Creator7,080 SGD-42%
Education Administrator7,630 SGD-37%
Education Assistant6,090 SGD-50%
Education Assistant Director8,490 SGD-30%
Education Assistant Librarian5,200 SGD-57%
Education Assistant Principal7,080 SGD-42%
Education Assistant Professor9,420 SGD-23%
Education Associate6,810 SGD-44%
Education Consultant9,620 SGD-21%
Education Coordinator7,210 SGD-41%
Education Counselor7,890 SGD-35%
Education Director11,900 SGD-2%
Education Policy Analyst9,320 SGD-24%
Education Program Specialist8,870 SGD-27%
Education Researcher9,980 SGD-18%
Education Resource Specialist7,560 SGD-38%
Education Services Facilitator7,940 SGD-35%
Education Technology Specialist7,500 SGD-39%
Educational Content Writer8,300 SGD-32%
Educational Data Privacy Officer7,910 SGD-35%
Educational Psychologist10,700 SGD-12%
EFL Teacher6,830 SGD-44%
eLearning Trainer5,930 SGD-51%
Elementary School Teacher5,520 SGD-55%
Engineering Lecturer11,000 SGD-10%
Engineering Teacher8,940 SGD-27%
English Teacher5,990 SGD-51%
ESL Teacher6,690 SGD-45%
Faculty Assistant8,330 SGD-32%
Foreign Language Teacher6,200 SGD-49%
GED Teacher6,210 SGD-49%
Geography Teacher6,680 SGD-45%
Head of Mathematics Department8,710 SGD-29%
Head of School11,400 SGD-7%
High School Teacher7,120 SGD-42%
History Teacher7,040 SGD-42%
Infant Teacher4,950 SGD-59%
Instructional Assistant6,740 SGD-45%
Instructional Coach8,020 SGD-34%
Instructor7,710 SGD-37%
Kindergarten Teacher5,140 SGD-58%
Language Instructor For Expatriate5,670 SGD-54%
Law Teacher9,650 SGD-21%
Learning Designer7,930 SGD-35%
Learning Experience Designer9,360 SGD-23%
Learning Management System Administrator7,320 SGD-40%
Lecturer11,600 SGD-5%
Librarian5,670 SGD-54%
Library Assistant4,410 SGD-64%
Library Director7,480 SGD-39%
Library Specialist5,800 SGD-52%
Library Technician5,080 SGD-58%
Life Sciences Teacher6,390 SGD-48%
Makerspace Coordinator and Facilitator5,920 SGD-51%
Math Lecturer11,700 SGD-4%
Math Teacher7,500 SGD-39%
Mathematics Teacher7,500 SGD-39%
Mentor7,100 SGD-42%
Middle School Teacher6,690 SGD-45%
Music Teacher6,450 SGD-47%
Nursery Manager9,500 SGD-22%
Nursery Worker3,920 SGD-68%
Online Course Developer8,020 SGD-34%
Online Course Instructor7,490 SGD-39%
Online Learning Facilitator6,770 SGD-44%
Online Tutor6,160 SGD-49%
Paraprofessional9,210 SGD-24%
Personalized Learning Specialist8,260 SGD-32%
Physical Education Specialist7,270 SGD-40%
Physical Education Teacher6,190 SGD-49%
Physics Teacher 6,700 SGD-45%
Political Science Teacher6,860 SGD-44%
Post Doctoral Researcher10,500 SGD-14%
Preschool Education Administrator7,830 SGD-36%
Preschool Teacher5,370 SGD-56%
Primary School Teacher6,050 SGD-50%
Principal9,210 SGD-24%
Product Specialist7,140 SGD-41%
Professor - Accounting12,300 SGD+1%
Professor - Architecture12,500 SGD+2%
Professor - Biology12,000 SGD-2%
Professor - Business Administration11,700 SGD-4%
Professor - Chemical Engineering12,700 SGD+4%
Professor - Chemistry12,500 SGD+2%
Professor - Civil Engineering11,500 SGD-6%
Professor - Communication11,400 SGD-7%
Professor - Computer Science11,900 SGD-2%
Professor - Dentistry12,400 SGD+2%
Professor - Drama11,400 SGD-7%
Professor - Economics12,200 SGD+0%
Professor - Education12,000 SGD-2%
Professor - Electrical Engineering12,400 SGD+2%
Professor - English11,200 SGD-8%
Professor - Environmental Engineering11,900 SGD-2%
Professor - Foreign Languages11,000 SGD-10%
Professor - Geological Sciences11,300 SGD-7%
Professor - History11,400 SGD-7%
Professor - Industrial Engineering11,200 SGD-8%
Professor - Law13,400 SGD+10%
Professor - Legal Support11,900 SGD-2%
Professor - Liberal Arts12,400 SGD+2%
Professor - Marketing12,100 SGD-1%
Professor - Mathematics13,500 SGD+11%
Professor - Mechanical Engineering13,100 SGD+7%
Professor - Medical Administration13,200 SGD+8%
Professor - Medicine14,700 SGD+21%
Professor - Music11,200 SGD-8%
Professor - Nursing11,500 SGD-6%
Professor - Pharmaceutical Sciences12,000 SGD-2%
Professor - Philosophy12,100 SGD-1%
Professor - Physical Therapy12,600 SGD+3%
Professor - Physics13,000 SGD+7%
Professor - Psychology11,700 SGD-4%
Professor - Rehabilitation10,900 SGD-11%
Professor - Social Work10,700 SGD-12%
Professor - Sociology11,600 SGD-5%
Professor - Special Education11,800 SGD-3%
Psychology Teacher9,440 SGD-23%
Public Management Assistant Professor10,200 SGD-16%
School Counselor8,730 SGD-28%
Science Educator6,660 SGD-45%
Science Laboratory Assistant6,290 SGD-48%
Science Teacher6,990 SGD-43%
Secondary Mathematics Teacher7,120 SGD-42%
Secondary School Teacher6,370 SGD-48%
Special Education Advocate8,810 SGD-28%
Special Education Teacher7,140 SGD-41%
Special Needs Assistant5,790 SGD-53%
Statistics Lecturer11,300 SGD-7%
STEAM Educator6,310 SGD-48%
STEM Educator6,160 SGD-49%
Student Accounts Coordinator6,530 SGD-46%
Student Development Specialist7,830 SGD-36%
Student Employment Specialist7,400 SGD-39%
Student Services6,050 SGD-50%
Student Services Coordinator6,090 SGD-50%
Student Support Manager8,090 SGD-34%
Substitute Teacher5,500 SGD-55%
Teacher5,760 SGD-53%
Teacher Aide5,070 SGD-58%
Teacher Trainer8,290 SGD-32%
Teaching Assistant5,360 SGD-56%
TEFL Teacher6,800 SGD-44%
Training and Development Specialist8,460 SGD-31%
Training Coordinator5,880 SGD-52%
Tutor6,680 SGD-45%
University Teacher11,900 SGD-2%
Virtual Teacher5,830 SGD-52%
Vocational Education Teacher6,320 SGD-48%

Government vs Private Sector Salary Comparison

Where can you get paid more, working in a private company or the government? The difference between the public or government sector salaries and the private sector salaries in Singapore is 5% on average across all career fields.

Private Sector
8,300 SGD
Public Sector+5%
8,700 SGD
Percentage increase and decrease are relative to the previous value

Salary Statistics and Calculation Guide

What is considered to be a good and competitive salary for the job title Professor - Economics in Singapore?

A good and competitive compensation would range anywhere between 11,400 SGD and 13,000 SGD. This is a very rough estimate. Experience and education play a very huge part in the final earnings.

Gross Salary (before tax) and Net Salary (after tax)

All salary and compensation figures displayed here are gross salary figures, that is the salary before tax deductions. Because taxes may differ across sectors and locations, it is difficult to accurately calculate the net salary after tax for every career.

Base / Basic Salary

The base salary for a careers like Professor - Economics in Singapore ranges from 5,980 SGD to 9,300 SGD. The base salary depends on many factors including experience and education. It is not easy to provide a figure with very little information, so take this range with a grain of salt.


What is the difference between the median and the average salary?

Both are indicators. If your salary is higher than both the average and the median then you are doing very well. If your salary is lower than both, then many people earn more than you and there is plenty of room for improvement. If your wage is between the average and the median, then things can be a bit complicated. We wrote a guide to explain all about the different scenarios. How to compare your salary


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