A person working as a Professor - Economics in Singapore typically earns around 12,200 SGD per month. Salaries range from 5,980 SGD (lowest) to 19,000 SGD (highest).
This is the average monthly salary including housing, transport, and other benefits. Professor - Economics salaries vary drastically based on experience, skills, gender, or location. Below you will find a detailed breakdown based on many different criteria.
Professor - Economics salaries in Singapore range from 5,980 SGD per month (minimum salary) to 19,000 SGD per month (maximum salary).
The median salary is 12,400 SGD per month, which means that half (50%) of people working as Professor - Economics(s) are earning less than 12,400 SGD while the other half are earning more than 12,400 SGD. The median represents the middle salary value. Generally speaking, you would want to be on the right side of the graph with the group earning more than the median salary.
Closely related to the median are two values: the 25th and the 75th percentiles. Reading from the salary distribution diagram, 25% of Professor - Economics(s) are earning less than 8,290 SGD while 75% of them are earning more than 8,290 SGD. Also from the diagram, 75% of Professor - Economics(s) are earning less than 16,000 SGD while 25% are earning more than 16,000 SGD.
Both are indicators. If your salary is higher than both of the average and the median then you are doing very well. If your salary is lower than both, then many people are earning 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
The experience level is the most important factor in determining the salary. Naturally the more years of experience the higher your wage. We broke down Professor - Economics salaries by experience level and this is what we found.
A Professor - Economics with less than two years of experience makes approximately 7,090 SGD per month.
While someone with an experience level between two and five years is expected to earn 9,110 SGD per month, 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 per month, 38% more than someone with two to five years of experience.
Additionally, Professor - Economics(s) whose expertise span anywhere between ten and fifteen years get a salary equivalent to 15,600 SGD per month, 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 per month, 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 per month, 7% more than people with fifteen to twenty years of experience.
|0 - 2 Years|
|2 - 5 Years||+29%|
|5 - 10 Years||+38%|
|10 - 15 Years||+24%|
|15 - 20 Years||+7%|
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 Professor - Economics salaries by education level in order to make a comparison.
When the education level is Master's Degree, the average salary of a Professor - Economics is 7,670 SGD per month.
While someone with a PhD gets a salary of 14,200 SGD per month, 85% more than someone having a Master's Degree degree.
A Master's degree program or any post-graduate program in Singapore costs anywhere from 42,200 Singapore Dollar(s) to 127,000 Singapore Dollar(s) 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 into a higher paying job. The numbers seem to support the thoery. 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.
Though gender should not have an effect on pay, in reality, it does. So who gets paid more: men or women? Male Professor - Economics employees in Singapore earn 5% more than their female counterparts on average.
Professor - Economics(s) 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.
The term 'Annual Salary Increase' usually refers to the increase in 12 calendar month period, but because it is rarely 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.
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
Listed above are the average annual increase rates for each industry in Singapore for the year 2019. Companies within thriving industries tend to provide higher and more frequent raises. Exceptions do exist, but generally speaking, the situation of any company is closely related to the economic situation in the country or region. These figures tend to change frequently.
A Professor - Economics is considered to be a moderate bonus-based job due to the generally limited involvement in direct revenue generation, with exceptions of course. The people who get the highest bonuses are usually somehow involved in the revenue generation cycle.
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.
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.
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.
The main two types of jobs
|Revenue Generators||Supporting 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.
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.
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.
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 fix 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.
The average salary for Professor - Economics is 36% more than that of Teaching / Education. Also, Teaching / Education salaries are 6% more than those of All Jobs.
|Job Title||Average Salary|
|Academic Advisor||8,390 SGD||-31%|
|Academic Coach||8,060 SGD||-34%|
|Academic Manager||9,320 SGD||-24%|
|Academic Specialist||7,750 SGD||-36%|
|Academic Staff||6,680 SGD||-45%|
|Achievement Coach||8,730 SGD||-28%|
|Admissions Specialist||7,310 SGD||-40%|
|Agricultural Sciences Teacher||6,780 SGD||-44%|
|Anthropology Teacher||6,740 SGD||-45%|
|Arabic Language Teacher||6,520 SGD||-47%|
|Archeology Teacher||6,730 SGD||-45%|
|Architecture Teacher||7,290 SGD||-40%|
|Art Teacher||6,070 SGD||-50%|
|Assistant School Principal||8,450 SGD||-31%|
|Assistant Teacher||5,510 SGD||-55%|
|Biochemistry Professor||11,300 SGD||-7%|
|Biology Teacher||6,580 SGD||-46%|
|Bursary Scheme Manager||7,450 SGD||-39%|
|Business Teacher||7,140 SGD||-41%|
|Chemistry Teacher||6,260 SGD||-49%|
|Child Care Coordinator||6,430 SGD||-47%|
|Child Care Worker||5,160 SGD||-58%|
|Clinical School Psychologist||9,800 SGD||-20%|
|College Aide||8,230 SGD||-33%|
|College and Career Readiness Specialist||8,680 SGD||-29%|
|College President||14,800 SGD||+21%|
|Communications Teacher||6,550 SGD||-46%|
|Community Education Officer||5,510 SGD||-55%|
|Computer Science Teacher||6,580 SGD||-46%|
|Computer Teacher||6,700 SGD||-45%|
|Creative Writing Trainer||7,930 SGD||-35%|
|Credit Counselor||8,460 SGD||-31%|
|Cultural Studies Teacher||6,580 SGD||-46%|
|Curriculum Developer||8,910 SGD||-27%|
|Curriculum Specialist||8,670 SGD||-29%|
|Deputy Controller of Examinations||7,680 SGD||-37%|
|Director of Learning Technology||8,850 SGD||-27%|
|Distance Learning Coordinator||7,310 SGD||-40%|
|Economics Lecturer||11,800 SGD||-3%|
|Education Administrator||7,630 SGD||-37%|
|Education Assistant Director||8,490 SGD||-30%|
|Education Assistant Principal||7,080 SGD||-42%|
|Education Assistant Professor||9,420 SGD||-23%|
|Education Consultant||9,620 SGD||-21%|
|Education Coordinator||7,210 SGD||-41%|
|Education Counselor||7,890 SGD||-35%|
|Education Director||11,900 SGD||-2%|
|Education Program Specialist||8,870 SGD||-27%|
|Education Researcher||9,980 SGD||-18%|
|Education Resource Specialist||7,560 SGD||-38%|
|Education Services Facilitator||7,940 SGD||-35%|
|Educational Psychologist||10,700 SGD||-12%|
|EFL Teacher||6,820 SGD||-44%|
|eLearning Trainer||5,930 SGD||-51%|
|Elementary School Teacher||5,520 SGD||-55%|
|Engineering Lecturer||11,000 SGD||-10%|
|Engineering Teacher||8,940 SGD||-27%|
|English Teacher||5,990 SGD||-51%|
|ESL Teacher||6,690 SGD||-45%|
|Faculty Assistant||8,330 SGD||-32%|
|Foreign Language Teacher||6,190 SGD||-49%|
|GED Teacher||6,210 SGD||-49%|
|Geography Teacher||6,680 SGD||-45%|
|Head of Mathematics Department||8,710 SGD||-29%|
|Head of School||11,400 SGD||-7%|
|High School Teacher||7,120 SGD||-42%|
|History Teacher||7,040 SGD||-42%|
|Infant Teacher||4,950 SGD||-59%|
|Instructional Assistant||6,740 SGD||-45%|
|Kindergarten Teacher||5,140 SGD||-58%|
|Language Instructor For Expatriate||5,670 SGD||-54%|
|Law Teacher||9,650 SGD||-21%|
|Learning Designer||7,930 SGD||-35%|
|Library Assistant||4,410 SGD||-64%|
|Library Director||7,480 SGD||-39%|
|Library Specialist||5,800 SGD||-52%|
|Life Sciences Teacher||6,390 SGD||-48%|
|Math Lecturer||11,700 SGD||-4%|
|Mathematics Teacher||7,500 SGD||-39%|
|Middle School Teacher||6,690 SGD||-45%|
|Music Teacher||6,450 SGD||-47%|
|Nursery Manager||9,500 SGD||-22%|
|Nursery Worker||3,920 SGD||-68%|
|Physical Education Specialist||7,270 SGD||-40%|
|Physical Education Teacher||6,190 SGD||-49%|
|Physics Teacher||6,700 SGD||-45%|
|Political Science Teacher||6,860 SGD||-44%|
|Post Doctoral Researcher||10,500 SGD||-14%|
|Preschool Education Administrator||7,830 SGD||-36%|
|Preschool Teacher||5,370 SGD||-56%|
|Primary School Teacher||6,050 SGD||-50%|
|Product Specialist||7,140 SGD||-41%|
|Professor - Accounting||12,300 SGD||+1%|
|Professor - Architecture||12,500 SGD||+2%|
|Professor - Biology||12,000 SGD||-2%|
|Professor - Business Administration||11,700 SGD||-4%|
|Professor - Chemical Engineering||12,700 SGD||+4%|
|Professor - Chemistry||12,500 SGD||+2%|
|Professor - Civil Engineering||11,500 SGD||-6%|
|Professor - Communication||11,400 SGD||-7%|
|Professor - Computer Science||11,900 SGD||-2%|
|Professor - Dentistry||12,400 SGD||+2%|
|Professor - Drama||11,400 SGD||-7%|
|Professor - Economics||12,200 SGD||+0%|
|Professor - Education||12,000 SGD||-2%|
|Professor - Electrical Engineering||12,400 SGD||+2%|
|Professor - English||11,200 SGD||-8%|
|Professor - Environmental Engineering||11,900 SGD||-2%|
|Professor - Foreign Languages||11,000 SGD||-10%|
|Professor - Geological Sciences||11,300 SGD||-7%|
|Professor - History||11,400 SGD||-7%|
|Professor - Industrial Engineering||11,200 SGD||-8%|
|Professor - Law||13,400 SGD||+10%|
|Professor - Legal Support||11,900 SGD||-2%|
|Professor - Liberal Arts||12,400 SGD||+2%|
|Professor - Marketing||12,100 SGD||-1%|
|Professor - Mathematics||13,500 SGD||+11%|
|Professor - Mechanical Engineering||13,100 SGD||+7%|
|Professor - Medical Administration||13,200 SGD||+8%|
|Professor - Medicine||14,700 SGD||+21%|
|Professor - Music||11,200 SGD||-8%|
|Professor - Nursing||11,500 SGD||-6%|
|Professor - Pharmaceutical Sciences||12,000 SGD||-2%|
|Professor - Philosophy||12,100 SGD||-1%|
|Professor - Physical Therapy||12,600 SGD||+3%|
|Professor - Physics||13,000 SGD||+7%|
|Professor - Psychology||11,700 SGD||-4%|
|Professor - Rehabilitation||10,900 SGD||-11%|
|Professor - Social Work||10,700 SGD||-12%|
|Professor - Sociology||11,600 SGD||-5%|
|Professor - Special Education||11,800 SGD||-3%|
|Psychology Teacher||9,440 SGD||-23%|
|Public Management Assistant Professor||10,200 SGD||-16%|
|School Counselor||8,730 SGD||-28%|
|Science Educator||6,660 SGD||-45%|
|Science Laboratory Assistant||6,290 SGD||-48%|
|Science Teacher||6,990 SGD||-43%|
|Secondary Mathematics Teacher||7,120 SGD||-42%|
|Secondary School Teacher||6,370 SGD||-48%|
|Special Education Teacher||7,140 SGD||-41%|
|Special Needs Assistant||5,790 SGD||-53%|
|Statistics Lecturer||11,300 SGD||-7%|
|Student Accounts Coordinator||6,530 SGD||-46%|
|Student Development Specialist||7,830 SGD||-36%|
|Student Employment Specialist||7,400 SGD||-39%|
|Student Services||6,050 SGD||-50%|
|Student Support Manager||8,090 SGD||-34%|
|Substitute Teacher||5,500 SGD||-55%|
|Teacher Aide||5,070 SGD||-58%|
|Teacher Trainer||8,290 SGD||-32%|
|Training and Development Specialist||8,460 SGD||-31%|
|Training Coordinator||5,880 SGD||-52%|
|University Teacher||11,900 SGD||-2%|
|Vocational Education Teacher||6,320 SGD||-48%|
Where can you get paid more, working for a private company or for the government? Public sector employees in Singapore earn 5% more than their private sector counterparts on average across all sectors.