Latest Salary Guide 2024: Banker Salary in Singapore

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banker salary in singapore

Singapore is one of the most thriving economies in the world. If you are looking for a job, joining the banking industry is one of the most rewarding decisions you can make. With a booming job market for banking professionals and most of the banks offering competitive salaries to bankers, this Asian country has emerged as a popular work destination among qualified banking professionals.  If you want to know what the basic salary of a banker in Singapore is before applying for a job in the country, this blog is especially for you.


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What is the Average Banker Salary in Singapore

The banking sector in Singapore offers a competitive salary range for professionals.  On average, bankers can expect a yearly salary of 70,700 SGD, which translates to a monthly income of 5,891 SGD.  It’s important to note that experience and other factors can significantly impact your compensation.  Entry-level bankers might start around 36,720 SGD annually (3,060 SGD monthly), while highly experienced individuals can reach 106,960 SGD a year (8,913 SGD monthly). This highlights the potential for significant salary growth within the banking profession in Singapore.

We divided the often occurring wages into various ranges to help provide a better picture of projected salaries. Using this method instead of just calculating the average gives a more accurate picture of the wage distribution for the job title “Banker” in Singapore.

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Experience Wise Banker Salary in Singapore 

Experience level is the most important factor in determining remuneration. Of course, salary rises as one’s years of experience do. In general, across all businesses and specialities, Singaporean banking professionals with two to five years of experience make, on average, 32% more than their freshmen and younger colleagues.

banker salary in singapore

Education Wise Banker Salary in Singapore

Higher education is generally associated with higher salaries, but to what extent can a degree increase one’s income? Below are the results of our comparison of professional salaries in Singaporean banking across a wide range of degree-granting positions.

Education Level Average Salary Per Year 
High School52,880 SGD
Certificate or Diploma60,840 SGD
Bachelor’s Degree80,060 SGD
Master’s Degree99,100 SGD

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Organisation Banker Salary in Singapore

We divided up the commonly occurring wages into several companies to give a clearer idea of expected pay in Singapore organizations. 

Organisation Average Salary Per Month
DBS Bank8,550 SGD
United Overseas Bank20,279 SGD
Citi12,779 SGD
HSBC12,167 SGD
Standard Chartered Bank10,775 SGD
Bank of China3,463 SGD
UBS5,500 SGD
Citicapital Commercial Corp7,800 SGD
J.P. Morgan5,000 SGD- 15,000 SGD
Maybank3,000 SGD- 7,000 SGD
Bank of America4,000 SGD- 7,000 SGD
Credit Suisse2,000 SGD-4,000 SGD
ABC9,000 SGD-11,000 SGD 

City Wise Banker Salary in Singapore

We divided the commonly occurring wages into various Singaporean cities in order to better illustrate the projected pay of bankers. 

banker salary in singapore

Highest Paying Banking Jobs in Singapore 

The anticipated salary for the most sought-after positions in the banking sector are shown below, starting with starting pay.

Job Positions Average Salary Per Month
Banker4,419 SGD
Customer Service Representative2,719 SGD
Branch Manager4,363 SGD
Vice President13,409 SGD
Financial Advisor4,737 SGD
Relationship Banker4,184 SGD
Licensed Personal Banker9,075 SGD
Investment-Banker6,000 SGD
Accountant 3,000 SGD
Business Banker5,420 SGD

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Q1: How much do Bankers in Singapore earn?

In Singapore, the average monthly pay for a banker is $34,800. In Singapore, a banker’s supplemental financial remuneration ranges from $6,000 to $105,000, with an average of $30,000. The salary estimates are based on 74 salaries that Singaporean Banker employees anonymously posted to Glassdoor.

Q2: How to become a banker in Singapore?

A diploma from the local polytechnic or a bachelor’s degree from an accredited university. a strong desire to work in wealth management. solid communication and interpersonal abilities.

Q3: Is Singapore good for banking?

Singapore is a well-known and thriving global financial hub that supports not only its own domestic economy but also the economies of the whole Asia Pacific region. The nation’s banking sector is a major factor in the financial market sector and is quickly becoming one of the greatest in the world.

This was all about Banker Salary in Singapore. If you want to know more about salary updates on different professions follow Leverage Edu and our main page Jobs Abroad

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