Singapore’s economy is heavily reliant on its services sector, with key industries like financial services, law, and hospitality forming its backbone. Within this services-driven landscape, the retail sector also plays a crucial role, reflecting Singapore’s reputation as a global shopping destination. Shopping is often considered a national pastime, thanks to the abundance of malls across the island, catering to both locals and tourists.
However, working in retail is no easy feat. Retail jobs often require long hours on one’s feet and can be physically demanding. Retail workers are critical to creating positive customer experiences, managing inventory, and ensuring operations run smoothly. Yet, despite their importance, the sector faces a persistent manpower shortage, with many individuals opting for other industries or roles over time.
So, how much can a retail worker in Singapore expect to earn each month?
Pay Depends On Experience
Naturally, retail workers in Singapore with more experience and skills are able to command higher wages. Based on data from Talent.com, which analysed over 5,700 retail sector salaries, the median monthly salary for a retail sales role is around $2,400.
For those starting out, entry-level retail workers can expect a monthly pay of around $2,200. However, with more experience or specialized skills, retail workers can see their salaries rise to as much as $3,600 per month. This demonstrates that there is room for upward mobility in the sector, particularly for those who invest time in building their expertise or take on supervisory roles.
Similarly, JobStreet.com data shows that the average retail sales associate earns between $2,200 and $2,800 per month, aligning closely with the figures from Talent.com. These salaries indicate that retail wages in Singapore are competitive within the wider services economy, especially for workers who develop their capabilities or move into niche areas within the industry.
For those considering a career in retail, the pay structure reflects opportunities to progress and earn more as they gain experience and take on greater responsibilities.
Attempts To Attract More Retail Staff
With the ongoing manpower crunch in the retail sector, largely driven by relatively low pay, steps have been taken to address this challenge. The Tripartite Cluster for Retail Industry (TCR)—a group comprising unions, retail firms, industry associations, and government agencies—has implemented a series of annual wage adjustments as part of broader industry reforms.
At the heart of these efforts is the Progressive Wage Model (PWM), introduced to boost salaries for retail workers and provide a clearer path for career advancement. Since 2022, the PWM has mandated baseline pay increases at a high single-digit compound annual growth rate (CAGR). This initiative aims to improve the financial well-being of retail employees while positioning the retail sector as a more attractive career choice.
By offering a structured wage progression and making pay more competitive, the PWM tackles two critical issues: the retention of existing workers and the recruitment of fresh talent into the industry. In short, it’s designed to make retail jobs not just a stepping stone, but a viable long-term career in Singapore.
PWM Recommended Annual Wage Increments
Source: MOM
The Progressive Wage Model (PWM) has set clear salary benchmarks for retail workers in Singapore, ensuring fair compensation and growth opportunities. As of 1 September 2024, the baseline monthly pay (excluding overtime) for an entry-level retail assistant or cashier is $2,175. For those in more senior roles, such as assistant retail managers or supervisors, the monthly gross wage rises to $2,635.
For retail managers, who typically oversee store operations and teams, the PWM does not impose fixed wage increments. Instead, pay for these roles is determined by market forces, reflecting the complexity and responsibilities involved. According to JobStreet.com, a Retail Store Manager can earn anywhere from $3,400 to $4,500 per month.
What does this mean for someone pursuing a career in retail? Starting out as a retail assistant offers a stable entry point with defined wage progression under the PWM. For those aiming higher, roles like retail manager not only bring greater responsibilities but also the opportunity to earn significantly more, driven by market demand. With competitive wages and a clear pathway for growth, retail remains a viable and rewarding career option in Singapore.
Top Image Credit: Soh Qi Hang, DollarsAndSense
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