Why is there a higher S Pass qualifying salary for the Financial Services sector?
MOM introduced a higher EP qualifying salary for the Financial Services sector in 2020, as salaries in the Financial Services sector have been consistently higher than in other sectors.
Similarly, a higher S Pass qualifying salary for the Financial Services sector was introduced on 1 September 2022, to take into account the higher wage norms in the sector.
You can find out if your company is in the Financial Services sector.
This information is sourced from MOM
Related questions
Are higher S Pass qualifying salaries for the Financial Sector applicable to all jobs (including non-Finance jobs like IT)?
What is the qualifying salary for hiring or renewing an EP holder if my company is in the Financial Services sector?
Why is MOM updating the S Pass qualifying salaries and levy?
When will the changes in S Pass qualifying salary apply to new applications and renewals?
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