Why are younger Singaporeans less likely to see social status rise?

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Younger Singaporeans Experience Slower Social Status Advancement

Younger Singaporeans, aged 21 to 34, are less likely to have witnessed an increase in their social status compared to older generations. A study by the Institute of Policy Studies (IPS) released in January 2023 revealed that only 52% of this younger demographic reported a rise in social status, in contrast to 61% of those aged 35-54 and 70% of those aged 55 and above. This trend suggests a potential slowing of upward social mobility for the younger cohort.
Limited Time for Wealth Accumulation

One primary factor contributing to the lower likelihood of social status advancement among younger Singaporeans is the limited time they have had to accumulate wealth. Older respondents, particularly those aged 55 and above, have had significantly more years to build their assets and achieve financial stability. This extended period allows for greater opportunities to enhance their standing on measures such as wealth, education, and job prestige, as defined by the MacArthur's Social Status Scale used in the study.
Impact of Past Decades of Improvement

The significant improvements in social mobility observed in Singapore over the past 50 years predominantly benefited earlier generations. While the nation has seen substantial progress, the current younger generation is entering a societal landscape that has already undergone much of this upward mobility. Consequently, the opportunities for dramatic shifts in social standing may be comparatively fewer or require different strategies for achievement, as suggested by the study's findings that overall, six in 10 respondents reported an increase in their social status scores from childhood to their current circumstances.
Widening Gap and Entrenched Advantages

The observation that social mobility is slowing, with those who have achieved success pulling further ahead, also plays a role in the challenges faced by younger Singaporeans. Entrenched advantages held by those who have already attained higher social status can create a more competitive and potentially less accessible environment for those starting their careers. This dynamic means that the pathway to upward mobility for younger individuals may be steeper, requiring them to navigate existing structures that benefit those already established, a point acknowledged by Deputy Prime Minister Lawrence Wong.

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Why are younger Singaporeans less likely to see social status rise?

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