Jobstreet by SEEK has released its Salary Pulse: Singapore 2026 report, revealing a striking disconnect in how workers feel about their pay: nearly three quarters say they are compensated fairly, but only 37% say they are genuinely happy with their salary — placing Singapore among the least satisfied markets surveyed across Asia Pacific.

The findings, drawn from a survey of 1,008 employed respondents in Singapore aged 18 to 64, suggest that workers are evaluating their compensation through a broader lens than pay alone. Among those who say their salary feels “about right”, seven in ten still report not feeling satisfied with their remuneration — a gap the report attributes to concerns over career progression, recognition and a sense of meaningful movement within their organisations.

A “Loyalty Tax” and Generational Divide

The report identifies a growing “loyalty tax” in Singapore’s labour market. Most workers — 87% — received their last pay increase from their current employer. However, those who switched employers were five times more likely to receive a pay rise of more than 10%, compared with employees who stayed put.

Younger workers are the most likely to act on salary dissatisfaction. If an increment fell short of expectations, 29% of Gen Z respondents and 25% of millennials said they would look for a new role — compared with 20% of Gen X and 13% of baby boomers. Sixty percent of Gen Z workers also said they were at least somewhat likely to pursue a side hustle in the next 12 months to supplement their income.

Low Confidence, High Success Rate in Pay Conversations

One in two workers have asked for a pay raise at least once, and 73% of those who did received an increase — either in full or in part. Yet confidence remains low: only 7% of workers describe themselves as “extremely comfortable” initiating a salary conversation, with women and entry-level employees the least likely to feel at ease doing so.

“Employees in Singapore do not necessarily feel underpaid in the strictest sense — they feel resigned and unmotivated,” said Jaslyn Koh, Head of Remuneration and Benefits, Asia, SEEK. “Many workers feel they are working harder, taking on more responsibilities and remaining loyal to their organisation, but they are not seeing meaningful movement in return — whether in pay, progression or recognition.”

The report also found that salary transparency is an emerging expectation: 77% of workers said they want salary ranges disclosed internally, and 57% said they are less likely to apply for a role if pay is not listed in the job advertisement. The Salary Pulse was conducted by research agency Nature on behalf of SEEK in February 2026.