Singapore base salaries are highest across Asia Pacific

Executives are paid 52% higher than China peers.

Singapore executives are better paid than their Greater China counterparts, according to professional services company Willis Towers Watson’s 2015/2016 Global 50 Remuneration Planning Report.

The report, which studied cross-country pay competitiveness comparisons across the Asia Pacific region, revealed that base salaries in Singapore are about 3-10% higher than those of Hong Kong, which is the highest paying economy in Greater China. This applies across the job grades, from professional level to top management.

Singapore also doles out a whopping 28-52% more than China at the middle management to senior and top management levels.

Further, largest gap sits at the professional level, where Singapore pays more than twice that of China.

“Singapore has always been a leading economy in the region. As it continues to enhance its competitiveness in the international arena, it wants to bring in top talent with knowledge of best practices from all over the world, so offering globally competitive salaries is an important part of that process,” said Sambhav Rakyan, Data Services Practice Leader, Asia Pacific at Willis Towers Watson.

Rakyan reasons, however, that in term of Greater China, Hong Kong has long been a hub for international talent. Hong Kong's gap with Singapore narrows considerably once Hong Kong's "more favourable tax rates" are considered.