As of 1 January 2012, the minimum for a new applicant EP (Q1) is $3000/mo.
For renewals after 1 Jan but before 1 July they will renew at the 2800/mo rate for an additional 12 months only, but then all will have to fall under the new criteria. Additionally, they have tightened up on the criteria considerably so even renewal after 30 June will have to fall under the new criteria guidelines as well. I foresee a considerable number of new S pass holders......
http://www.mom.gov.sg/foreign-manpower/ ... fault.aspx
Enhanced Employment Pass Framework
From 1 January 2012, the qualifying salary for the Q1 Pass will be increased from $2,800 to at least $3,000 for young graduates, while older applicants would have to command a higher salary to qualify, commensurate with the work experience and quality they are expected to bring. The qualifying salary for the P2 Pass will be raised from $4,000 to $4,500. There will be no change in the qualifying salary for P1 Pass which remains at $8,000. Concurrently, educational qualifications requirements will be tightened. For more information, please refer to our press release.