For the financial services sector, Wong announced that employers will have to pay EP holders $5,500, up from $5,000 currently, as it has higher salary norms.
Employers who hire Employment Pass (EP) and S Pass holders will need to pay them higher salaries from September 2022.
This was announced by Finance Minister Lawrence Wong at Budget 2022, saying the minimum qualifying salary for new EP applicants will be raised from $4,500 to $5,000.
