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Why is there a higher S Pass qualifying salary for the Financial Services sector?
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Source: https://www.mom.gov.sgMOM 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 provided here is sourced from the MOM website.
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