The Pulse of Recruitment report: Fewer salary raises in Singapore compared to initial projections

  • Only 62 per cent of professionals across Asia have received or still expect a pay raise in 2025. 

  • 69 per cent of professionals in Singapore have already received or are still expecting an increment, falling short of 2025 projections. 

  • Good team-fit remains top priority among professionals in Singapore who stayed with their employers. 

Singapore, 30 September 2025 - Hays Asia has released its latest Pulse of Recruitment report, offering fresh insights into salary expectations and workforce sentiment across six key Asian markets: China, Hong Kong SAR, Japan, Singapore, Malaysia, and Thailand. The findings reveal a growing sense of caution among both employers and professionals, with salary optimism notably declining across the region. 

Across Asia: Salary expectations have dipped

Expectations around salary increments from employees have declined compared to projections made in late 2024. At that time, 75 per cent of professionals were confident they would receive a raise. However, by June 2025, only 40 per cent had seen an increase in their salary, and just 22 per cent still expect one before the year ends.  

At the same time, salary reductions are becoming more common. Six per cent of respondents in Asia reported experiencing a pay cut in 2025, double the rate anticipated last year. This trend may continue, with 12 per cent of organisations indicating plans to reduce salaries in the second half of the year.  

Projections for raises among professionals in Singapore currently fall slightly behind 2024 numbers, with 69 per cent of professionals having already received a raise or still expecting to receive one this year compared to 72 per cent who received a raise in 2024. These also fall short of initial projections in late 2024, where 83 per cent of professionals we surveyed for the 2025 Hays Asia Salary Guide expected to receive a raise this year. 

Conversely, ten per cent of organisations in Singapore expected to decrease salaries for the remainder of 2025, lower than China (18 per cent) and Malaysia (11 per cent) but ahead of Hong Kong (seven per cent) and Thailand (five per cent). Organisations in Japan were least likely to implement salary reductions, at four per cent. 

“These findings reflect a shift in professional priorities as Singapore continues to recover from volatility earlier in the year,” said John Borneman, Regional Director of Hays Singapore. “Rather than pursuing aggressive growth, many are now focused on maintaining stability as employers adopt more measured approaches to salary planning.” 

Singapore: Good team-fit first, salary second for those who stayed

While salary continues to be a key consideration, work-life balance remains the leading reason professionals across Asia choose to stay with their current employers. Among those not planning to change jobs, 41 per cent cited work-life balance as their primary motivator, an increase from 36 per cent in late 2024. Salary followed closely at 36 per cent. 

In Singapore, the retention landscape is more nuanced. A majority of professionals (53 per cent) cited a strong fit with managers and colleagues as their top reason for staying, followed by salary packages and flexible working arrangements, both at 42 per cent. Only 33 per cent prioritised work-life balance, a decline from 39 per cent in late 2024. 

Interestingly, among professionals in Singapore who changed jobs this year, 28 per cent did so due to poor work-life balance, up significantly from 18 per cent in 2024. This factor was surpassed only by a lack of career progression (35 per cent) and limited learning and development opportunities (37 per cent).  

“While competitive pay remains important, fostering strong interpersonal dynamics within teams is one of the most effective ways to support employee retention,” John added. 

“At the same time, employers may wish to be more strategic in workforce planning. With more professionals citing poor work-life balance as a reason for changing jobs this year, it would be wise for organisations to evaluate whether current staffing levels are sufficient to sustainably meet operational demands.”  

“For professionals exploring new opportunities, it’s essential to identify what truly matters, be it work-life balance, salary, or a good team-fit. Having clarity on these priorities will empower more informed and confident career decisions.” 

 
A copy of the Pulse of Recruitment report now available -
 

For more information contact:

Sonel Singh, Head of Marketing, Hays Southeast Asia
T: +60 3 7890 6351
E: sonel.singh@hays.com.my

 

About Hays Singapore  

Hays Specialist Recruitment Pte Ltd, Singapore ("Hays Singapore") is one of Singapore's leading recruitment companies in recruiting qualified, professional, and skilled people across a wide range of industries and professions.  

Hays has been in Singapore for over a decade and boasts a track record of success and growth. We operate across the private and public sector, dealing in permanent and contract positions, and workforce solutions such as recruitment process outsourcing (RPO) in the following specialisms: Accountancy & Finance, Banking & Financial Services, Engineering, Human Resources, Legal, Life Sciences, Marketing & Digital, Office Professionals, Procurement, Supply Chain, Sales and Technology. We continue to strengthen our position in Asia with the world-leading ISO 9001:2015 certification in all our operational markets including Singapore, China, Hong Kong SAR, Japan, Malaysia, and Thailand. 

About Hays 

Hays plc (the "Group") is the world’s leading specialist in workforce solutions and recruitment, such as RPO and MSP. The Group is the expert at recruiting qualified, professional, and skilled people worldwide, being the market leader in the UK, Germany, and Australia and one of the market leaders in Continental Europe, Latin America, and Asia. The Group operates across the private and public sectors, dealing in permanent positions, contract roles and temporary assignments. As of 31 December 2024, the Group employed over 10,300 staff operating from 225 offices in 33 countries. For the year ended 30 June 2024: 

  • The Group reported net fees of £1,113.6 million and operating profit of £105.1 million. 

  • The Group placed around 57,700 candidates into permanent jobs and around 225,000 people into temporary roles. 

  • 13% of Group net fees were generated in Australia & New Zealand, 32% in Germany, 20% in United Kingdom & Ireland and 35% in Rest of World (RoW). 

  • The temporary placement business represented 59% of net fees and the permanent placement business represented 41% of net fees. 

  • Technology is the Group’s largest division, with 25% of net fees, while Accountancy & Finance (15%) and Engineering (11%), are the next largest. 

  • Hays operates in the following countries: Australia, Austria, Belgium, Brazil, Canada, Chile, China, Colombia, the Czech Republic, Denmark, France, Germany, Hungary, India, Ireland, Italy, Japan, Luxembourg, Malaysia, Mexico, the Netherlands, New Zealand, Poland, Portugal, Romania, Singapore, Spain, Sweden, Switzerland, Thailand, UAE, the UK, and the USA.