Breakdown of New Employment Pass Applications in Financial Services Sector and Non-financial Services Sectors in Last Five Years

Mr Chua Kheng Wee Louis asked the Minister for Manpower (a) for each year over the last five years, what is the 10th percentile, 25th percentile, median, 75th percentile and 90th percentile salary for new Employment Pass (EP) applications for (i) the financial services sector and (ii) sectors outside financial services; and (b) whether EPs have been granted to persons who did not meet the minimum qualifying salary for their relevant application periods.

Dr Tan See Leng: The Ministry of Manpower (MOM) regularly reviews the Employment Pass (EP) qualifying salary to keep pace with local PMET 1 wages and ensure that EP holders are of good calibre. From 2021 to 2025, the EP minimum qualifying salary increased from $5,000 to $6,200 for the financial services sector and from $4,500 to $5,600 for all sectors other than financial services.

Over the same period, the median fixed monthly salary of new EP applications 2 increased from $13,300 to $15,000 for those in the financial services sector and from $8,000 to $9,200 for those in all sectors excluding financial services. Tables 1 and 2 provide the values for different quartiles.

The EP qualifying salary applies to the vast majority of EP holders. MOM works with sector agencies to provide targeted flexibilities in areas that support our economic priorities. Any such flexibility is granted carefully, taking into account a range of factors.

Note(s) to Question No(s) 52:

1 Refers to Professionals, Managers, Executives and Technicians.

2 All applications submitted to MOM between 2021 to 2025, regardless of application outcome.